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    "unit": "iso4217:GBP"
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   "dimensions": {
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    "unit": "iso4217:GBP"
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  },
  "fact-551": {
   "value": "390000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:ProceedsFromNewShareholderBorrowingsNetOfAssociatedExpensesClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-552": {
   "value": "346000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:ProceedsFromNewShareholderBorrowingsNetOfAssociatedExpensesClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  },
  "fact-553": {
   "value": "85000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:ProceedsFromNewPolicyholderBorrowingsNetOfAssociatedExpensesClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-554": {
   "value": "64000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:ProceedsFromNewPolicyholderBorrowingsNetOfAssociatedExpensesClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  },
  "fact-555": {
   "value": "29000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:CouponPaidOnTier1NotesClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-556": {
   "value": "29000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:CouponPaidOnTier1NotesClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-557": {
   "value": "8000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:InterestPaidOnPolicyholderBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-558": {
   "value": "3000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:InterestPaidOnPolicyholderBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  },
  "fact-559": {
   "value": "210000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:InterestPaidOnShareholderBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  },
  "fact-560": {
   "value": "200000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:InterestPaidOnShareholderBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-561": {
   "value": "-1077000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-562": {
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   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-563": {
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   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-564": {
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   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-565": {
   "value": "7220000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:CashAndCashEquivalentsBeforeReclassificationOfCashAndCashEquivalentsToHeldForSale",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-566": {
   "value": "8872000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "pheonixgroupholdings:CashAndCashEquivalentsBeforeReclassificationOfCashAndCashEquivalentsToHeldForSale",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-567": {
   "value": "33000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  },
  "fact-568": {
   "value": "52000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  },
  "fact-569": {
   "value": "9453000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  },
  "fact-570": {
   "value": "7168000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
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  "fact-572": {
   "value": "<div class=\"t m0 h1a ff1 fse fc3 sc0 ls1 ws1 gs43\">A<span class=\"_ _0\"></span>. Signifi<span class=\"_ _0\"></span>cant acco<span class=\"_ _0\"></span>unting polic<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls8f ws206 gs44\">A<span class=\"_ _2\"></span>1. Basis of preparation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs45\">The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents for the yea<span class=\"_ _0\"></span>r ended 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2024 set out o<span class=\"_ _0\"></span>n pages 1<span class=\"_ _0\"></span>90 to 31<span class=\"_ _0\"></span>0 compris<span class=\"_ _0\"></span>e the financ<span class=\"_ _0\"></span>ial state<span class=\"_ _0\"></span>ments </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs46\">of<span class=\"_ gs47\"> </span>Phoe<span class=\"_ _0\"></span>nix Group Hol<span class=\"_ _0\"></span>dings plc (<span class=\"_ _0\"></span>\u2018the Co<span class=\"_ _0\"></span>mpany\u2019<span class=\"_ _0\"></span>) and its sub<span class=\"_ _0\"></span>sidiaries (tog<span class=\"_ _0\"></span>ether referre<span class=\"_ _0\"></span>d to as \u2018the Gro<span class=\"_ _0\"></span>up\u2019) and we<span class=\"_ _0\"></span>re authoris<span class=\"_ _0\"></span>ed by the Boa<span class=\"_ _0\"></span>rd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs48\">of<span class=\"_ gs47\"> </span>Direc<span class=\"_ _0\"></span>tors for iss<span class=\"_ _0\"></span>ue on 16<span class=\"_ gs47\"> </span>M<span class=\"_ _0\"></span>arch 2025<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs49\">The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>istorica<span class=\"_ _0\"></span>l cost c<span class=\"_ _0\"></span>onv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion except for inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, ow<span class=\"_ _0\"></span>ner-oc<span class=\"_ _0\"></span>cupied </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a\">prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and tho<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s and finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s (includin<span class=\"_ _0\"></span>g derivative ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) th<span class=\"_ _0\"></span>at have been m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at fair value.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b\">The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents are pre<span class=\"_ _0\"></span>sented in ste<span class=\"_ _0\"></span>rling (\u00a3) roun<span class=\"_ _0\"></span>ded to the ne<span class=\"_ _0\"></span>arest millio<span class=\"_ _0\"></span>n except where oth<span class=\"_ _0\"></span>erwi<span class=\"_ _0\"></span>se state<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c\">As<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities are of<span class=\"_ _0\"></span>fset an<span class=\"_ _0\"></span>d the net amo<span class=\"_ _0\"></span>unt repor<span class=\"_ _0\"></span>ted in the st<span class=\"_ _0\"></span>atement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>osition onl<span class=\"_ _0\"></span>y when there i<span class=\"_ _0\"></span>s a legally </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d\">enforce<span class=\"_ _0\"></span>able right to of<span class=\"_ _0\"></span>fset the re c<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d amounts a<span class=\"_ _0\"></span>nd there is an inte<span class=\"_ _0\"></span>ntion to set<span class=\"_ _0\"></span>tle on a net bas<span class=\"_ _0\"></span>is, or to rea<span class=\"_ _0\"></span>lise the as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d settl<span class=\"_ _0\"></span>e the liabilit<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws4b gs4e\">simult<span class=\"_ _0\"></span>aneou<span class=\"_ _0\"></span>sly<span class=\"_ _2\"></span>. In<span class=\"_ _0\"></span>come an<span class=\"_ _0\"></span>d expens<span class=\"_ _0\"></span>es are not off<span class=\"_ _0\"></span>set in the con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tatement un<span class=\"_ _0\"></span>less re<span class=\"_ _0\"></span>quired or pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by an Internation<span class=\"_ _0\"></span>al Financ<span class=\"_ _0\"></span>ial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f\">Repo<span class=\"_ _0\"></span>rting St<span class=\"_ _0\"></span>andard (<span class=\"_ _0\"></span>\u2018IFR<span class=\"_ _0\"></span>S\u2019<span class=\"_ _0\"></span>) or interpret<span class=\"_ _0\"></span>ation, as s<span class=\"_ _0\"></span>pecific<span class=\"_ _0\"></span>ally discl<span class=\"_ _0\"></span>osed in the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policies of th<span class=\"_ _0\"></span>e Group.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs50\">Statement<span class=\"_ _2\"></span> of compliance<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs51\">The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d in acco<span class=\"_ _0\"></span>rdance with U<span class=\"_ _0\"></span>K<span class=\"_ _4\"></span>-a<span class=\"_ _0\"></span>dopted intern<span class=\"_ _0\"></span>ational ac<span class=\"_ _0\"></span>counting s<span class=\"_ _0\"></span>tandard<span class=\"_ _0\"></span>s (\u2018IA<span class=\"_ _0\"></span>Ss\u2019) and t<span class=\"_ _0\"></span>he </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs52\">leg<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents of the C<span class=\"_ _0\"></span>ompanies Ac<span class=\"_ _0\"></span>t 200<span class=\"_ _0\"></span>6.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs53\">Basis of<span class=\"_ _2\"></span> cons<span class=\"_ _0\"></span>ol<span class=\"_ _2\"></span>idation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs54\">The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents incl<span class=\"_ _0\"></span>ude the finan<span class=\"_ _0\"></span>cial sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ments of the C<span class=\"_ _0\"></span>ompany and i<span class=\"_ _0\"></span>ts subsidia<span class=\"_ _0\"></span>ry und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>akings<span class=\"_ _0\"></span>, including c<span class=\"_ _0\"></span>ollec<span class=\"_ _0\"></span>tive </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs55\">investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes<span class=\"_ _0\"></span>, where the Gro<span class=\"_ _0\"></span>up exercises over<span class=\"_ _0\"></span>all control. In a<span class=\"_ _0\"></span>ccorda<span class=\"_ _0\"></span>nce with the p<span class=\"_ _0\"></span>rinciples s<span class=\"_ _0\"></span>et out in IFR<span class=\"_ _0\"></span>S 10 Con<span class=\"_ _0\"></span>solidated F<span class=\"_ _0\"></span>inancial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs56\">Statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, the Group c<span class=\"_ _0\"></span>ontrols an investe<span class=\"_ _0\"></span>e if and only if th<span class=\"_ _0\"></span>e Group has all of th<span class=\"_ _0\"></span>e following:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs57\">\u2022 <span class=\"_ _19\"> </span>powe<span class=\"_ _0\"></span>r ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the investee<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs58\">\u2022 <span class=\"_ _19\"> </span>exp<span class=\"_ _0\"></span>osure, or rig<span class=\"_ _0\"></span>hts, to vari<span class=\"_ _0\"></span>able returns f<span class=\"_ _0\"></span>rom its involveme<span class=\"_ _0\"></span>nt with the investe<span class=\"_ _0\"></span>e; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs59\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>bility to us<span class=\"_ _0\"></span>e its power over th<span class=\"_ _0\"></span>e investee to af<span class=\"_ _0\"></span>fect it<span class=\"_ _0\"></span>s returns<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a\">The Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>ers all releva<span class=\"_ _0\"></span>nt facts a<span class=\"_ _0\"></span>nd circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s in asse<span class=\"_ _0\"></span>ssing wh<span class=\"_ _0\"></span>ether it has p<span class=\"_ _0\"></span>ower over an investe<span class=\"_ _0\"></span>e, inclu<span class=\"_ _0\"></span>ding relevant ac<span class=\"_ _0\"></span>tivities<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b\">subs<span class=\"_ _0\"></span>tantive and<span class=\"_ gs47\"> </span>prote<span class=\"_ _0\"></span>ctive right<span class=\"_ _0\"></span>s, voting rig<span class=\"_ _0\"></span>hts and pur<span class=\"_ _0\"></span>pose and d<span class=\"_ _0\"></span>esign of an investe<span class=\"_ _0\"></span>e. The Gro<span class=\"_ _0\"></span>up reass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s whether or n<span class=\"_ _0\"></span>ot it controls an inves<span class=\"_ _0\"></span>tee if </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c\">fac<span class=\"_ _0\"></span>ts and circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces indic<span class=\"_ _0\"></span>ate that the<span class=\"_ _0\"></span>re are chang<span class=\"_ _0\"></span>es to one or more of th<span class=\"_ _0\"></span>e three ele<span class=\"_ _0\"></span>ments of cont<span class=\"_ _0\"></span>rol. Furthe<span class=\"_ _0\"></span>r details ab<span class=\"_ _0\"></span>out the con<span class=\"_ _0\"></span>solidation of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d\">subsi<span class=\"_ _0\"></span>diaries<span class=\"_ _0\"></span>, including c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment s<span class=\"_ _0\"></span>chemes<span class=\"_ _0\"></span>, are incl<span class=\"_ _0\"></span>uded in note H1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs5e\">Going<span class=\"_ _2\"></span> concern<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f\">The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d on a going c<span class=\"_ _0\"></span>oncern b<span class=\"_ _0\"></span>asis. T<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>tors have, at the tim<span class=\"_ _0\"></span>e of approving the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs60\">finan<span class=\"_ _0\"></span>cial state<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, a reaso<span class=\"_ _0\"></span>nable exp<span class=\"_ _0\"></span>ectat<span class=\"_ _0\"></span>ion that the C<span class=\"_ _0\"></span>ompany and th<span class=\"_ _0\"></span>e Group have ade<span class=\"_ _0\"></span>quate reso<span class=\"_ _0\"></span>urces to contin<span class=\"_ _0\"></span>ue in operati<span class=\"_ _0\"></span>onal exis<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nce for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs61\">the pe<span class=\"_ _0\"></span>riod covere<span class=\"_ _0\"></span>d by the ass<span class=\"_ _0\"></span>essme<span class=\"_ _0\"></span>nt having as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed the prin<span class=\"_ _0\"></span>cipal risks<span class=\"_ _0\"></span>, foreca<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, proje<span class=\"_ _0\"></span>ctions an<span class=\"_ _0\"></span>d other releva<span class=\"_ _0\"></span>nt evidence fo<span class=\"_ _0\"></span>r a period of at le<span class=\"_ _0\"></span>ast, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs62\">but n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t lim<span class=\"_ _0\"></span>ited to, 12 month<span class=\"_ _0\"></span>s from the date of approva<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s, usin<span class=\"_ _0\"></span>g the information ava<span class=\"_ _0\"></span>ilable up to the date of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs63\">iss<span class=\"_ _0\"></span>ue of this Annual Re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>t and Acco<span class=\"_ _0\"></span>unts. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails of the going c<span class=\"_ _0\"></span>oncern a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment are in<span class=\"_ _0\"></span>cluded in<span class=\"_ gs47\"> </span>t<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rs\u2019 Repor<span class=\"_ _0\"></span>t on pag<span class=\"_ _0\"></span>e 16<span class=\"_ _0\"></span>8.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs64\">A2<span class=\"_ _0\"></span>. Adoption of new acco<span class=\"_ _0\"></span>un<span class=\"_ _2\"></span>tin<span class=\"_ _0\"></span>g pronouncem<span class=\"_ _0\"></span>ents in 2024<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs65\">In prep<span class=\"_ _0\"></span>aring the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l stateme<span class=\"_ _0\"></span>nts, t<span class=\"_ _0\"></span>he Group has a<span class=\"_ _0\"></span>dopted the foll<span class=\"_ _0\"></span>owing amen<span class=\"_ _0\"></span>dments to s<span class=\"_ _0\"></span>tandard<span class=\"_ _0\"></span>s effec<span class=\"_ _0\"></span>tive from 1 Januar<span class=\"_ _0\"></span>y 2024 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs66\">and whi<span class=\"_ _0\"></span>ch have been e<span class=\"_ _0\"></span>ndors<span class=\"_ _0\"></span>ed by the UK En<span class=\"_ _0\"></span>dorse<span class=\"_ _0\"></span>ment Board (<span class=\"_ _0\"></span>\u2018U<span class=\"_ _0\"></span>KEB\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs67\">\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>upplier Fina<span class=\"_ _0\"></span>nce Arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s (Amen<span class=\"_ _0\"></span>dments to IA<span class=\"_ _0\"></span>S 7 &amp; IFRS 7<span class=\"_ _0\"></span>); </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs68\">\u2022 <span class=\"_ _19\"> </span>Lea<span class=\"_ _0\"></span>se Liabilit<span class=\"_ _0\"></span>y in a Sale an<span class=\"_ _0\"></span>d L<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>aseba<span class=\"_ _0\"></span>ck (Ame<span class=\"_ _0\"></span>ndments to I<span class=\"_ _0\"></span>FRS 16<span class=\"_ _0\"></span>);<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs69\">\u2022 <span class=\"_ _19\"> </span>Cla<span class=\"_ _0\"></span>ssificat<span class=\"_ _0\"></span>ion of Liabilities as C<span class=\"_ _0\"></span>urrent or Non-<span class=\"_ _0\"></span>Current (<span class=\"_ _0\"></span>Amendm<span class=\"_ _0\"></span>ents to IAS 1); a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a\">\u2022 <span class=\"_ _19\"> </span>No<span class=\"_ _0\"></span>n-current Liab<span class=\"_ _0\"></span>ilities with C<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>nants (Am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to IAS 1).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b\">Non<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e above amen<span class=\"_ _0\"></span>dments to s<span class=\"_ _0\"></span>tandards a<span class=\"_ _0\"></span>re conside<span class=\"_ _0\"></span>red to have a materia<span class=\"_ _0\"></span>l effec<span class=\"_ _0\"></span>t on these c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c\">not ea<span class=\"_ _0\"></span>rly adopted a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y oth<span class=\"_ _0\"></span>er stan<span class=\"_ _0\"></span>dard, interp<span class=\"_ _0\"></span>retation or am<span class=\"_ _0\"></span>endment th<span class=\"_ _0\"></span>at has be<span class=\"_ _0\"></span>en issu<span class=\"_ _0\"></span>ed but is not yet ef<span class=\"_ _0\"></span>fecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs6d\">A3. Res<span class=\"_ _0\"></span>tatement of prior year prima<span class=\"_ _0\"></span>ry st<span class=\"_ _0\"></span>atements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6e\">Following th<span class=\"_ _0\"></span>e introduc<span class=\"_ _0\"></span>tion of IFRS 17 Ins<span class=\"_ _0\"></span>urance C<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts and IFR<span class=\"_ _0\"></span>S 9 Financ<span class=\"_ _0\"></span>ial Instr<span class=\"_ _0\"></span>uments in th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s for the year en<span class=\"_ _0\"></span>ded </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6f\">31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023<span class=\"_ _0\"></span>, the Group ha<span class=\"_ _0\"></span>s continue<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>mbed it<span class=\"_ _0\"></span>s proces<span class=\"_ _0\"></span>ses an<span class=\"_ _0\"></span>d controls as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with this sign<span class=\"_ _0\"></span>ificant cha<span class=\"_ _0\"></span>nge. In doin<span class=\"_ _0\"></span>g so, the G<span class=\"_ _0\"></span>roup </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs70\">has id<span class=\"_ _0\"></span>entified ma<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rial corre<span class=\"_ _0\"></span>ctions to prev<span class=\"_ _0\"></span>iously rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d results<span class=\"_ _0\"></span>, resultin<span class=\"_ _0\"></span>g in the rest<span class=\"_ _0\"></span>atement of comp<span class=\"_ _0\"></span>arative informatio<span class=\"_ _0\"></span>n include<span class=\"_ _0\"></span>d in these </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs71\">con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s. In ad<span class=\"_ _0\"></span>dition, it h<span class=\"_ _0\"></span>as made an a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy ch<span class=\"_ _0\"></span>ange as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with IFRS 17<span class=\"_ _2\"></span>. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails on thes<span class=\"_ _0\"></span>e items and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs72\">their im<span class=\"_ _0\"></span>pact on th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated financ<span class=\"_ _0\"></span>ial state<span class=\"_ _0\"></span>ments are s<span class=\"_ _0\"></span>et out bel<span class=\"_ _0\"></span>ow<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs73\">A third bal<span class=\"_ _0\"></span>ance she<span class=\"_ _0\"></span>et, as at 1 J<span class=\"_ _0\"></span>anuar<span class=\"_ _0\"></span>y 2023<span class=\"_ _0\"></span>, has not be<span class=\"_ _0\"></span>en provide<span class=\"_ _0\"></span>d within the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fi<span class=\"_ _0\"></span>nancial p<span class=\"_ _0\"></span>osition as th<span class=\"_ _0\"></span>e restate<span class=\"_ _0\"></span>ment to the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs74\">ope<span class=\"_ _0\"></span>ning positio<span class=\"_ _0\"></span>n has be<span class=\"_ _0\"></span>en asse<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d as immateria<span class=\"_ _0\"></span>l in the contex<span class=\"_ _0\"></span>t of the statem<span class=\"_ _0\"></span>ent of cons<span class=\"_ _0\"></span>olidated finan<span class=\"_ _0\"></span>cial pos<span class=\"_ _0\"></span>ition as at that da<span class=\"_ _0\"></span>te. T<span class=\"_ _4\"></span>otal a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs75\">repo<span class=\"_ _0\"></span>rted of \u00a32<span class=\"_ _0\"></span>81,0<span class=\"_ _0\"></span>40 million in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d by \u00a375 million to \u00a328<span class=\"_ _0\"></span>1,115 millio<span class=\"_ _0\"></span>n, total liabilit<span class=\"_ _0\"></span>ies repor<span class=\"_ _0\"></span>ted of \u00a3276<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>03 million redu<span class=\"_ _0\"></span>ced by \u00a320 m<span class=\"_ _0\"></span>illion to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs76\">\u00a3276<span class=\"_ _0\"></span>,783 million an<span class=\"_ _0\"></span>d total equit<span class=\"_ _0\"></span>y repor<span class=\"_ _0\"></span>ted of \u00a34,<span class=\"_ _0\"></span>237 million incre<span class=\"_ _0\"></span>ased by \u00a3<span class=\"_ _0\"></span>95 million to \u00a34,<span class=\"_ _0\"></span>332 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs77\">The follow<span class=\"_ _0\"></span>ing table s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e impact of the re<span class=\"_ _0\"></span>statem<span class=\"_ _0\"></span>ents on op<span class=\"_ _0\"></span>ening retain<span class=\"_ _0\"></span>ed earnin<span class=\"_ _0\"></span>gs and th<span class=\"_ _0\"></span>e results as a<span class=\"_ _0\"></span>t 31 Dece<span class=\"_ _0\"></span>mber 2023<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w1f6 h208\" id=\"_82438556-a56f-4ae6-99d1-b2c1bac98c7c\"><tr><td></td><td></td><td></td><td class=\"t m0 x48b ha y5acc ff2 fs5 fc3 sc0 ls22 ws24\">Correctio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span> of errors<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x48c ha y5acd ff2 fs5 fc3 sc0 ls1 ws1\">Valuat<span class=\"_ _0\"></span>ion of IF<span class=\"_ _0\"></span>RS </td><td class=\"t m0 x2ec ha y5acd ff2 fs5 fc3 sc0 ls1 ws1\">Def<span class=\"_ _0\"></span>erred </td><td class=\"t m0 x48d ha y5acd ff2 fs5 fc3 sc0 ls11 ws11\">V<span class=\"_ _2\"></span>aluation of<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48e ha y5acd ff2 fs5 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nge in </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x48f ha y5ace ff2 fs5 fc3 sc0 ls1 ws1\">17 an<span class=\"_ _0\"></span>d IFRS 9 </td><td class=\"t m0 x490 ha y5ace ff2 fs5 fc3 sc0 ls22 ws24\">acquisition cost<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> </td><td class=\"t m0 x491 ha y5ace ff2 fs5 fc3 sc0 ls21 ws23\">reimbur<span class=\"_ _0\"></span>sement </td><td class=\"t m0 x492 ha y5ace ff2 fs5 fc3 sc0 ls21 ws23\">acco<span class=\"_ _0\"></span>unting </td><td></td></tr><tr><td></td><td class=\"t m0 x493 ha y5acf ff2 fs5 fc3 sc0 ls1 ws1\">As re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x494 ha y5acf ff2 fs5 fc3 sc0 ls21 ws23\">liabilities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x495 ha y5acf ff2 fs5 fc3 sc0 ls60 ws5b\">('<span class=\"_ _0\"></span>DAC<span class=\"_ _0\"></span>')<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x496 ha y5acf ff2 fs5 fc3 sc0 ls36 ws33\">right<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x497 ha y5acf ff2 fs5 fc3 sc0 ls21 ws23\">policy<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x498 ha y5acf ff2 fs5 fc3 sc0 ls1be ws1d2\">Rest<span class=\"_ _0\"></span>ated<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x499 ha y5ad0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a ha y5ad0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y5ad0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 ha y5ad0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c ha y5ad0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5ad0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5ad1 ff3 fs6 fc3 sc0 ls10 ws10\">Consolid<span class=\"_ _2\"></span>ated income<span class=\"_ _2\"></span> statement:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ad2 w41 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance service e<span class=\"_ _2\"></span>xpenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x49d y5ad2 w1f7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4,<span class=\"_ _0\"></span>35<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x49e y5ad2 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x49f y5ad2 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a0 y5ad2 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a1 y5ad2 w1f8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a2 y5ad2 w1f9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(4,<span class=\"_ _0\"></span>335)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ad3 w52 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net inves<span class=\"_ _0\"></span>tment inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a3 y5ad3 w1fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>0,840<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a4 y5ad3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a5 y5ad3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a6 y5ad3 w1fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a7 y5ad3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a8 y5ad3 w1fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">20<span class=\"_ _0\"></span>,838<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ad4 w60 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net fin<span class=\"_ _0\"></span>ance exp<span class=\"_ _0\"></span>ense from ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a9 y5ad4 w1fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(6,<span class=\"_ _0\"></span>982)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4aa y5ad4 w1fe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>76<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ab y5ad4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ac y5ad4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ad y5ad4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ae y5ad4 w1ff h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad5 w6b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4af y5ad5 w200 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(13,<span class=\"_ _0\"></span>89<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b0 y5ad5 w201 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">289<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b1 y5ad5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b2 y5ad5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b3 y5ad5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b4 y5ad5 w6d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(13,6<span class=\"_ _0\"></span>05<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad6 w79 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b5 y5ad6 w202 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b6 y5ad6 w203 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b7 y5ad6 w204 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b8 y5ad6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b9 y5ad6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ba y5ad6 w205 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,66<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad7 w206 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls143 ws14f\">Ta<span class=\"_ _0\"></span>x<span class=\"_ _0\"></span> c<span class=\"_ _1\"></span>h<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>g<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4bb y5ad7 w207 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(108)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4bc y5ad7 w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(66<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4bd y5ad7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4be y5ad7 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4bf y5ad7 w209 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c0 y5ad7 w20a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>178<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad8 w97 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit for the yea<span class=\"_ _0\"></span>r attri<span class=\"_ _0\"></span>butab<span class=\"_ _0\"></span>le to owner<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c1 y5ad8 w20b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c2 y5ad8 w20c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c3 y5ad8 w1b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c4 y5ad8 w20d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c5 y5ad8 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c6 y5ad8 w98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5ad9 ff3 fs6 fc3 sc0 ls12 ws13\">Statement o<span class=\"_ _2\"></span>f comprehensive income:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ada wb6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nts of net define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t asset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c7 y5ada w1aa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(66)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c8 y5ada w203 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c9 y5ada wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ca y5ada w20f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4cb y5ada wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4cc y5ada wb9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>94)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adb w210 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax cre<span class=\"_ _0\"></span>dit relating to othe<span class=\"_ _0\"></span>r compreh<span class=\"_ _0\"></span>ensive inc<span class=\"_ _0\"></span>ome items<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4cd y5adb wac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4c8 y5adb w203 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ce y5adb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4cf y5adb w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d0 y5adb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d1 y5adb w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adc w211 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls11 ws11\">T<span class=\"_ _4\"></span>otal other comprehensi<span class=\"_ _2\"></span>ve expense f<span class=\"_ _2\"></span>or the y<span class=\"_ _2\"></span>ear<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d2 y5adc w212 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>71<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d3 y5adc w213 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d4 y5adc wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d5 y5adc w214 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d6 y5adc wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d7 y5adc wbe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(92)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5add ff3 fs6 fc3 sc0 lsb6 wsb4\">Statement of consolidate<span class=\"_ _0\"></span>d financial position:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ade wc8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right ass<span class=\"_ _0\"></span>ets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d8 y5ade w215 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d9 y5ade wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4da y5ade wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4db y5ade wb2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4dc y5ade wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4dd y5ade wca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adf w104 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er rece<span class=\"_ _0\"></span>ivables<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4de y5adf w216 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">2,5<span class=\"_ _0\"></span>78<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4df y5adf w203 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e0 y5adf w217 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e1 y5adf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4dc y5adf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e2 y5adf w218 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">2,<span class=\"_ _0\"></span>652<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae0 w110 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e3 y5ae0 w219 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">299<span class=\"_ _2\"></span>,308<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e4 y5ae0 w213 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e5 y5ae0 w155 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e6 y5ae0 wb2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e7 y5ae0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e8 y5ae0 w163 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">299,<span class=\"_ _0\"></span>393<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae1 w133 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e9 y5ae1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ea y5ae1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4eb y5ae1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ec y5ae1 w136 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ed y5ae1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ee y5ae1 w136 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae2 w137 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ef y5ae2 w21a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">1<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,741<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f0 y5ae2 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f1 y5ae2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f2 y5ae2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f3 y5ae2 w1ae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(19<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f4 y5ae2 w21b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae3 w13f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Inves<span class=\"_ _0\"></span>tment cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f5 y5ae3 w21c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">158,00<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f6 y5ae3 w21d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>289<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f7 y5ae3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f8 y5ae3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f9 y5ae3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4fa y5ae3 w21e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">157<span class=\"_ _3\"></span>,7<span class=\"_ _2\"></span>15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae4 w150 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4fb y5ae4 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4fc y5ae4 wb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4fd y5ae4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4fe y5ae4 w220 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ff y5ae4 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x500 y5ae4 w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae5 w222 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">T<span class=\"_ _4\"></span>ot<span class=\"_ _0\"></span>al Liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x501 y5ae5 w223 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x502 y5ae5 w224 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(20<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x503 y5ae5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x504 y5ae5 w225 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">62<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x505 y5ae5 wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x506 y5ae5 w226 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">295<span class=\"_ _0\"></span>,60<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 w227 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retain<span class=\"_ _0\"></span>ed earnin<span class=\"_ _0\"></span>gs as at 1 Jan<span class=\"_ _0\"></span>uary 2<span class=\"_ _0\"></span>023<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x507 y5ae6 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,162<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x508 y5ae6 w225 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">62<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x509 y5ae6 w225 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">62<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x50a y5ae6 w228 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x50b y5ae6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x50c y5ae6 w229 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">1<span class=\"_ _1\"></span>,25<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w22a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retain<span class=\"_ _0\"></span>ed earnin<span class=\"_ _0\"></span>gs as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x50d y5a15 w22b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">469<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x50e y5a15 w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x50f y5a15 w217 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x510 y5a15 w22c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x511 y5a15 w22d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x512 y5a15 w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">715<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w12d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x513 y5a16 w22f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,539<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x514 y5a16 w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x515 y5a16 w155 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x516 y5a16 w230 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x517 y5a16 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x518 y5a16 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a\">\u2022 <span class=\"_ _19\"> </span>V<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span>uation of IFRS 17 an<span class=\"_ _0\"></span>d IFRS 9 liabili<span class=\"_ _0\"></span>ties \u2013 As a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e continue<span class=\"_ _0\"></span>d embed<span class=\"_ _0\"></span>ding of proce<span class=\"_ _0\"></span>sses an<span class=\"_ _0\"></span>d controls followin<span class=\"_ _0\"></span>g the implem<span class=\"_ _0\"></span>entation of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7b\">IFR<span class=\"_ _0\"></span>S 17 the Group ha<span class=\"_ _0\"></span>s identified a n<span class=\"_ _0\"></span>umber of corre<span class=\"_ _0\"></span>ctions to p<span class=\"_ _0\"></span>reviously rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d IFRS 17 ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract lia<span class=\"_ _0\"></span>bilities<span class=\"_ _0\"></span>, IFRS 9 investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c\">liabilitie<span class=\"_ _0\"></span>s and as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d deferred ta<span class=\"_ _0\"></span>x. This in<span class=\"_ _0\"></span>cluded e<span class=\"_ _0\"></span>rrors identifi<span class=\"_ _0\"></span>ed in the ca<span class=\"_ _0\"></span>lculation of inpu<span class=\"_ _0\"></span>ts to the IFR<span class=\"_ _0\"></span>S 17 liabilit<span class=\"_ _0\"></span>y calculat<span class=\"_ _0\"></span>ion, and an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d\">overs<span class=\"_ _0\"></span>tatement of lia<span class=\"_ _0\"></span>bilities arisin<span class=\"_ _0\"></span>g from the inclu<span class=\"_ _0\"></span>sion of the liabilit<span class=\"_ _0\"></span>y for a group of co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s erroneo<span class=\"_ _0\"></span>usly in both I<span class=\"_ _0\"></span>FRS 17 and IFR<span class=\"_ _0\"></span>S 9 liabilities<span class=\"_ _0\"></span>. As at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e\">1 Janu<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>23 insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t liabilities we<span class=\"_ _0\"></span>re ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rstate<span class=\"_ _0\"></span>d by \u00a371 million<span class=\"_ _0\"></span>, deferred ta<span class=\"_ _0\"></span>x liabilities un<span class=\"_ _0\"></span>ders<span class=\"_ _0\"></span>tated by \u00a39 millio<span class=\"_ _0\"></span>n, and co<span class=\"_ _0\"></span>nsequ<span class=\"_ _0\"></span>ently </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f\">ope<span class=\"_ _0\"></span>ning retaine<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s were under<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d by \u00a362 million. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs80\">\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred acq<span class=\"_ _0\"></span>uisition cos<span class=\"_ _0\"></span>ts (\u2018<span class=\"_ _0\"></span>DA<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>\u2019) \u2013 On t<span class=\"_ _0\"></span>ransition to I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, DAC reco<span class=\"_ _0\"></span>gnised in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts was de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nised. I<span class=\"_ _0\"></span>t was </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs81\">identifi<span class=\"_ _0\"></span>ed that the DAC on a por<span class=\"_ _0\"></span>tfolio of I<span class=\"_ _0\"></span>FRS 9 contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, which sho<span class=\"_ _0\"></span>uld remain<span class=\"_ _0\"></span>, was derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in error and a<span class=\"_ _0\"></span>cquisition c<span class=\"_ _0\"></span>osts o<span class=\"_ _0\"></span>n new busine<span class=\"_ _0\"></span>ss </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs82\">to this po<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio were not deferre<span class=\"_ _0\"></span>d in line with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s acc<span class=\"_ _0\"></span>ounting po<span class=\"_ _0\"></span>licy<span class=\"_ _2\"></span>. D<span class=\"_ _0\"></span>uring 2023 inc<span class=\"_ _0\"></span>urred DA<span class=\"_ _2\"></span>C on t<span class=\"_ _0\"></span>he por<span class=\"_ _0\"></span>tfolio of IFR<span class=\"_ _0\"></span>S9 contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs83\">not deferre<span class=\"_ _0\"></span>d but was ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>d in error<span class=\"_ _2\"></span>. At 1 Jan<span class=\"_ _0\"></span>uary 2<span class=\"_ _0\"></span>023 other rec<span class=\"_ _0\"></span>eivables w<span class=\"_ _0\"></span>as unders<span class=\"_ _0\"></span>tated by \u00a36<span class=\"_ _0\"></span>2 million and co<span class=\"_ _0\"></span>nsequ<span class=\"_ _0\"></span>ently open<span class=\"_ _0\"></span>ing retaine<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs84\">earnin<span class=\"_ _0\"></span>gs were unde<span class=\"_ _0\"></span>rsta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d by \u00a362 million<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs85\">\u2022 <span class=\"_ _19\"> </span>V<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span>uation of reimbur<span class=\"_ _0\"></span>sement ri<span class=\"_ _0\"></span>ghts \u2013 It ha<span class=\"_ _0\"></span>s been ide<span class=\"_ _0\"></span>ntified that th<span class=\"_ _0\"></span>e calcul<span class=\"_ _0\"></span>ation of reimburs<span class=\"_ _0\"></span>ement rig<span class=\"_ _0\"></span>hts use<span class=\"_ _0\"></span>d an out-of-date input re<span class=\"_ _0\"></span>sulting in an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs86\">under<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment of net reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt rights at 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2023 of \u00a338 m<span class=\"_ _0\"></span>illion and an as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d overst<span class=\"_ _0\"></span>atement of deferre<span class=\"_ _0\"></span>d tax liabiliti<span class=\"_ _0\"></span>es of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs87\">\u00a39 millio<span class=\"_ _0\"></span>n conse<span class=\"_ _0\"></span>quently over<span class=\"_ _0\"></span>stating o<span class=\"_ _0\"></span>pening ret<span class=\"_ _0\"></span>ained ea<span class=\"_ _0\"></span>rnings by \u00a32<span class=\"_ _0\"></span>9 million. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs88\">\u2022 <span class=\"_ _19\"> </span>T<span class=\"_ _2\"></span>ax-fre<span class=\"_ _0\"></span>e cash met<span class=\"_ _0\"></span>hodolo<span class=\"_ _0\"></span>gy \u2013 The Gro<span class=\"_ _0\"></span>up has mad<span class=\"_ _0\"></span>e a change to it<span class=\"_ _0\"></span>s acco<span class=\"_ _0\"></span>unting polic<span class=\"_ _0\"></span>ies such tha<span class=\"_ _0\"></span>t it now treat<span class=\"_ _0\"></span>s tax-free c<span class=\"_ _0\"></span>ash payment<span class=\"_ _0\"></span>s on deferre<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs89\">annuit<span class=\"_ _0\"></span>ies as a set<span class=\"_ _0\"></span>tleme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f a n<span class=\"_ _0\"></span>on-dist<span class=\"_ _0\"></span>inct invest<span class=\"_ _0\"></span>ment comp<span class=\"_ _0\"></span>onent (if a gua<span class=\"_ _0\"></span>ranteed a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y exists) an<span class=\"_ _0\"></span>d a premium refund w<span class=\"_ _0\"></span>here a non-<span class=\"_ _0\"></span>distinc<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8a\">investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>onent doe<span class=\"_ _0\"></span>s not exist or to th<span class=\"_ _0\"></span>e extent th<span class=\"_ _0\"></span>at the tax-fre<span class=\"_ _0\"></span>e cash am<span class=\"_ _0\"></span>ount excee<span class=\"_ _0\"></span>ds the value of the n<span class=\"_ _0\"></span>on-dis<span class=\"_ _0\"></span>tinct inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8b\">This ap<span class=\"_ _0\"></span>proach alig<span class=\"_ _0\"></span>ns with the req<span class=\"_ _0\"></span>uirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f I<span class=\"_ _0\"></span>FRS 17 and the<span class=\"_ _0\"></span>refore is no les<span class=\"_ _0\"></span>s relevant or relia<span class=\"_ _0\"></span>ble and simplifi<span class=\"_ _0\"></span>es internal pro<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>es. Th<span class=\"_ _0\"></span>e impact i<span class=\"_ _0\"></span>s a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c\">dec<span class=\"_ _0\"></span>rease in ins<span class=\"_ _0\"></span>urance s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es of \u00a319 m<span class=\"_ _0\"></span>illion and an incre<span class=\"_ _0\"></span>ase in the t<span class=\"_ _0\"></span>ax charg<span class=\"_ _0\"></span>e of \u00a35 million for the year e<span class=\"_ _0\"></span>nded 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023 (year </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d\">ende<span class=\"_ _0\"></span>d 31 De<span class=\"_ _0\"></span>cember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4: \u00a347 million dec<span class=\"_ _0\"></span>rease in ins<span class=\"_ _0\"></span>urance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es and \u00a312 m<span class=\"_ _0\"></span>illion increa<span class=\"_ _0\"></span>se in tax ch<span class=\"_ _0\"></span>arge), and a cor<span class=\"_ _0\"></span>respondin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8e\">dec<span class=\"_ _0\"></span>rease in the C<span class=\"_ _0\"></span>SM within in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t liabilities an<span class=\"_ _0\"></span>d increas<span class=\"_ _0\"></span>e in deferred ta<span class=\"_ _0\"></span>x liabilities by th<span class=\"_ _0\"></span>e same amo<span class=\"_ _0\"></span>unts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f\">The imp<span class=\"_ _0\"></span>act on ea<span class=\"_ _0\"></span>rnings pe<span class=\"_ _0\"></span>r share of the ta<span class=\"_ _0\"></span>x-free cas<span class=\"_ _0\"></span>h method<span class=\"_ _0\"></span>ology ch<span class=\"_ _0\"></span>ange in the ye<span class=\"_ _0\"></span>ar to 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is an inc<span class=\"_ _0\"></span>rease in ba<span class=\"_ _0\"></span>sic earning<span class=\"_ _0\"></span>s per </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs90\">share a<span class=\"_ _0\"></span>nd an increa<span class=\"_ _0\"></span>se in diluted e<span class=\"_ _0\"></span>arnings p<span class=\"_ _0\"></span>er share of 3<span class=\"_ _0\"></span>.5 pe<span class=\"_ _0\"></span>nce per s<span class=\"_ _0\"></span>hare (year ende<span class=\"_ _0\"></span>d 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>23: increa<span class=\"_ _0\"></span>se in basic e<span class=\"_ _0\"></span>arnings p<span class=\"_ _0\"></span>er share an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs91\">an incre<span class=\"_ _0\"></span>ase in dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per share of 1<span class=\"_ _0\"></span>.4 pen<span class=\"_ _0\"></span>ce per sh<span class=\"_ _0\"></span>are)<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>ere was no imp<span class=\"_ _0\"></span>act on eith<span class=\"_ _0\"></span>er basic op<span class=\"_ _0\"></span>erating e<span class=\"_ _0\"></span>arnings n<span class=\"_ _0\"></span>et of financing c<span class=\"_ _0\"></span>osts p<span class=\"_ _0\"></span>er </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs92\">share o<span class=\"_ _0\"></span>r diluted ope<span class=\"_ _0\"></span>rating earn<span class=\"_ _0\"></span>ings net of fina<span class=\"_ _0\"></span>ncing cos<span class=\"_ _0\"></span>ts pe<span class=\"_ _0\"></span>r share in eithe<span class=\"_ _0\"></span>r period<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div>Disclosur<span class=\"_ _2\"></span>es<span class=\"_ _3bd\"> </span>In add<span class=\"_ _0\"></span>ition, cor<span class=\"_ _0\"></span>rection<span class=\"_ _0\"></span>s have been m<span class=\"_ _0\"></span>ade to the disc<span class=\"_ _0\"></span>losures in res<span class=\"_ _0\"></span>pect of fa<span class=\"_ _0\"></span>ir value hiera<span class=\"_ _0\"></span>rchy o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>orporate b<span class=\"_ _0\"></span>onds in note E2.<span class=\"_ _0\"></span>2, the all<span class=\"_ _0\"></span>ocation of B<span class=\"_ _0\"></span>EL bet<span class=\"_ _0\"></span>ween dis<span class=\"_ _0\"></span>closure gro<span class=\"_ _0\"></span>ups in note F1, t<span class=\"_ _0\"></span>he illiquidit<span class=\"_ _0\"></span>y premiums a<span class=\"_ _0\"></span>nd future co<span class=\"_ _0\"></span>sts of gu<span class=\"_ _0\"></span>aranteed a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y options in note F11<span class=\"_ _0\"></span>.2, t<span class=\"_ _0\"></span>he sensit<span class=\"_ _0\"></span>ivities in notes E6.<span class=\"_ _0\"></span>2 and F11<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 th<span class=\"_ _0\"></span>e analysi<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value of unde<span class=\"_ _0\"></span>rlying items in n<span class=\"_ _0\"></span>ote F9 and deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets not re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in note G8<span class=\"_ _0\"></span>. Furth<span class=\"_ _0\"></span>er details of the<span class=\"_ _0\"></span>se corre<span class=\"_ _0\"></span>ctions a<span class=\"_ _0\"></span>re set out in the re<span class=\"_ _0\"></span>levant note. A4. Acc<span class=\"_ _0\"></span>ounting policie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicies have be<span class=\"_ _0\"></span>en cons<span class=\"_ _0\"></span>istently app<span class=\"_ _0\"></span>lied in thes<span class=\"_ _0\"></span>e conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial sta<span class=\"_ _0\"></span>tements<span class=\"_ _0\"></span>. Where an a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy c<span class=\"_ _0\"></span>an be direc<span class=\"_ _0\"></span>tly attr<span class=\"_ _0\"></span>ibuted to a spe<span class=\"_ _0\"></span>cific note to the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, the policy i<span class=\"_ _0\"></span>s presente<span class=\"_ _0\"></span>d within that note<span class=\"_ _0\"></span>, with a view to enab<span class=\"_ _0\"></span>ling greate<span class=\"_ _0\"></span>r unders<span class=\"_ _0\"></span>tanding of th<span class=\"_ _0\"></span>e results an<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position of the G<span class=\"_ _0\"></span>roup. All other s<span class=\"_ _0\"></span>ignificant a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policies are di<span class=\"_ _0\"></span>sclose<span class=\"_ _0\"></span>d below.<span class=\"_ _3bd\"> </span>A4.1<span class=\"_ _2\"></span> Foreign cur<span class=\"_ _2\"></span>rency transac<span class=\"_ _0\"></span>tio<span class=\"_ _2\"></span>ns<span class=\"_ _3bd\"> </span>Items in<span class=\"_ _0\"></span>cluded in t<span class=\"_ _0\"></span>he financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents of eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s entities are me<span class=\"_ _0\"></span>asured us<span class=\"_ _0\"></span>ing the curre<span class=\"_ _0\"></span>ncy of the prim<span class=\"_ _0\"></span>ary e<span class=\"_ _0\"></span>conomic e<span class=\"_ _0\"></span>nvironment in which th<span class=\"_ _0\"></span>e entit<span class=\"_ _0\"></span>y operates (the \u2018<span class=\"_ _0\"></span>fun<span class=\"_ _0\"></span>ctional c<span class=\"_ _0\"></span>urrency<span class=\"_ _0\"></span>\u2019). The co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts are pres<span class=\"_ _0\"></span>ented in ste<span class=\"_ _0\"></span>rling, whic<span class=\"_ _0\"></span>h is the Group\u2019s pres<span class=\"_ _0\"></span>entation cur<span class=\"_ _0\"></span>rency.<span class=\"_ _3bd\"> </span>The re<span class=\"_ _0\"></span>sults and fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition of all Group c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s that have a func<span class=\"_ _0\"></span>tional curre<span class=\"_ _0\"></span>ncy dif<span class=\"_ _0\"></span>ferent from the pre<span class=\"_ _0\"></span>sentatio<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y are translate<span class=\"_ _0\"></span>d into the pre<span class=\"_ _0\"></span>sentation c<span class=\"_ _0\"></span>urrency a<span class=\"_ _0\"></span>s follows:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities are tr<span class=\"_ _0\"></span>anslate<span class=\"_ _0\"></span>d at the closin<span class=\"_ _0\"></span>g rate at the per<span class=\"_ _0\"></span>iod end;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>ome, exp<span class=\"_ _0\"></span>enses an<span class=\"_ _0\"></span>d cash fl<span class=\"_ _0\"></span>ows denomin<span class=\"_ _0\"></span>ated in foreign c<span class=\"_ _0\"></span>urrencies a<span class=\"_ _0\"></span>re translate<span class=\"_ _0\"></span>d at average exc<span class=\"_ _0\"></span>hange ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>all res<span class=\"_ _0\"></span>ulting exchan<span class=\"_ _0\"></span>ge diffe<span class=\"_ _0\"></span>rences a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised thro<span class=\"_ _0\"></span>ugh the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated c<span class=\"_ _0\"></span>omprehe<span class=\"_ _0\"></span>nsive incom<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>Foreign c<span class=\"_ _0\"></span>urrency tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions are tra<span class=\"_ _0\"></span>nslated into the f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>al currenc<span class=\"_ _0\"></span>y of the trans<span class=\"_ _0\"></span>acting G<span class=\"_ _0\"></span>roup entit<span class=\"_ _0\"></span>y using excha<span class=\"_ _0\"></span>nge rates p<span class=\"_ _0\"></span>revailing at the date of the tran<span class=\"_ _0\"></span>sacti<span class=\"_ _0\"></span>on. Foreign exc<span class=\"_ _0\"></span>hange g<span class=\"_ _0\"></span>ains and los<span class=\"_ _0\"></span>ses res<span class=\"_ _0\"></span>ulting from the s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of such tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions and fro<span class=\"_ _0\"></span>m the transl<span class=\"_ _0\"></span>ation of monet<span class=\"_ _0\"></span>ary as<span class=\"_ _0\"></span>sets and lia<span class=\"_ _0\"></span>bilities den<span class=\"_ _0\"></span>ominated in foreig<span class=\"_ _0\"></span>n currenci<span class=\"_ _0\"></span>es are reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment. T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>slation dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on non-mon<span class=\"_ _0\"></span>etar<span class=\"_ _0\"></span>y items at f<span class=\"_ _0\"></span>air value throu<span class=\"_ _0\"></span>gh profit or los<span class=\"_ _0\"></span>s are repor<span class=\"_ _0\"></span>ted as pa<span class=\"_ _0\"></span>rt of the fair va<span class=\"_ _0\"></span>lue gain or los<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>A4.2 Other operati<span class=\"_ _2\"></span>ng income<span class=\"_ _3bd\"> </span>Oth<span class=\"_ _0\"></span>er oper<span class=\"_ _0\"></span>ating incom<span class=\"_ _0\"></span>e include<span class=\"_ _0\"></span>s income fro<span class=\"_ _0\"></span>m all other ope<span class=\"_ _0\"></span>rating ac<span class=\"_ _0\"></span>tivities whic<span class=\"_ _0\"></span>h are incident<span class=\"_ _0\"></span>al to the princip<span class=\"_ _0\"></span>al activi<span class=\"_ _0\"></span>ties of the Group.<span class=\"_ _3bd\"> </span>A5. Critic<span class=\"_ _0\"></span>al accountin<span class=\"_ _0\"></span>g estimates an<span class=\"_ _0\"></span>d judge<span class=\"_ _0\"></span>ments<span class=\"_ _3bd\"> </span>The pre<span class=\"_ _0\"></span>paration of fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s requires ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent to make judge<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, estim<span class=\"_ _0\"></span>ates and as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>hat affec<span class=\"_ _0\"></span>t the applic<span class=\"_ _0\"></span>ation of polic<span class=\"_ _0\"></span>ies and rep<span class=\"_ _0\"></span>orted a<span class=\"_ _0\"></span>mounts of as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>, incom<span class=\"_ _0\"></span>e and expe<span class=\"_ _0\"></span>nses<span class=\"_ _0\"></span>. Disclos<span class=\"_ _0\"></span>ures of judge<span class=\"_ _0\"></span>ments m<span class=\"_ _0\"></span>ade by mana<span class=\"_ _0\"></span>gement in a<span class=\"_ _0\"></span>pplying th<span class=\"_ _0\"></span>e Group\u2019s acc<span class=\"_ _0\"></span>ounting polic<span class=\"_ _0\"></span>ies includ<span class=\"_ _0\"></span>e those tha<span class=\"_ _0\"></span>t have the most s<span class=\"_ _0\"></span>ignificant ef<span class=\"_ _0\"></span>fect o<span class=\"_ _0\"></span>n the amount<span class=\"_ _0\"></span>s that are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated fin<span class=\"_ _0\"></span>ancial st<span class=\"_ _0\"></span>atements<span class=\"_ _0\"></span>. Disc<span class=\"_ _0\"></span>losures of es<span class=\"_ _0\"></span>timates and a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated ass<span class=\"_ _0\"></span>umptions inc<span class=\"_ _0\"></span>lude thos<span class=\"_ _0\"></span>e that have a signific<span class=\"_ _0\"></span>ant risk of result<span class=\"_ _0\"></span>ing in a material c<span class=\"_ _0\"></span>hange to th<span class=\"_ _0\"></span>e car<span class=\"_ _0\"></span>rying va<span class=\"_ _0\"></span>lue of asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies within the n<span class=\"_ _0\"></span>ext year. The est<span class=\"_ _0\"></span>imates and as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated ass<span class=\"_ _0\"></span>umptions are ba<span class=\"_ _0\"></span>sed on his<span class=\"_ _0\"></span>torical ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>e and variou<span class=\"_ _0\"></span>s other f<span class=\"_ _0\"></span>actors th<span class=\"_ _0\"></span>at are believe<span class=\"_ _0\"></span>d to be reason<span class=\"_ _0\"></span>able unde<span class=\"_ _0\"></span>r the circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s, the re<span class=\"_ _0\"></span>sults of which for<span class=\"_ _0\"></span>m the basis of the j<span class=\"_ _0\"></span>udgem<span class=\"_ _0\"></span>ents as to the c<span class=\"_ _0\"></span>arr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and liabilitie<span class=\"_ _0\"></span>s that are not rea<span class=\"_ _0\"></span>dily apparent f<span class=\"_ _0\"></span>rom other so<span class=\"_ _0\"></span>urces. Ac<span class=\"_ _0\"></span>tual res<span class=\"_ _0\"></span>ults may dif<span class=\"_ _0\"></span>fer from thes<span class=\"_ _0\"></span>e estimate<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Critic<span class=\"_ _0\"></span>al acco<span class=\"_ _0\"></span>unting est<span class=\"_ _0\"></span>imates are thos<span class=\"_ _0\"></span>e which involve the m<span class=\"_ _0\"></span>ost comp<span class=\"_ _0\"></span>lex or subje<span class=\"_ _0\"></span>ctive jud<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s or ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ents. T<span class=\"_ _0\"></span>he areas of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s bu<span class=\"_ _0\"></span>siness that t<span class=\"_ _0\"></span>ypica<span class=\"_ _0\"></span>lly require suc<span class=\"_ _0\"></span>h estimate<span class=\"_ _0\"></span>s are the mea<span class=\"_ _0\"></span>surement of ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities wit<span class=\"_ _0\"></span>h discretion<span class=\"_ _0\"></span>ary pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>tion features (\u2018<span class=\"_ _0\"></span>DPF\u2019<span class=\"_ _0\"></span>), determin<span class=\"_ _0\"></span>ation of the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es, an<span class=\"_ _0\"></span>d valuation of pe<span class=\"_ _0\"></span>nsion sch<span class=\"_ _0\"></span>eme ass<span class=\"_ _0\"></span>ets and li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The ap<span class=\"_ _0\"></span>plication of cri<span class=\"_ _0\"></span>tical ac<span class=\"_ _0\"></span>counting ju<span class=\"_ _0\"></span>dgeme<span class=\"_ _0\"></span>nts that co<span class=\"_ _0\"></span>uld have the mos<span class=\"_ _0\"></span>t signific<span class=\"_ _0\"></span>ant effec<span class=\"_ _0\"></span>t on the rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d amount<span class=\"_ _0\"></span>s include cl<span class=\"_ _0\"></span>assific<span class=\"_ _0\"></span>ation of contr<span class=\"_ _0\"></span>acts to b<span class=\"_ _0\"></span>e accounte<span class=\"_ _0\"></span>d for as insura<span class=\"_ _0\"></span>nce or inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts an<span class=\"_ _0\"></span>d amor<span class=\"_ _0\"></span>tisation of th<span class=\"_ _0\"></span>ose contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, the determ<span class=\"_ _0\"></span>ination of adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating profit an<span class=\"_ _0\"></span>d determinatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontrol with reg<span class=\"_ _0\"></span>ard to underly<span class=\"_ _0\"></span>ing entities<span class=\"_ _0\"></span>. Det<span class=\"_ _0\"></span>ails of all critic<span class=\"_ _0\"></span>al acco<span class=\"_ _0\"></span>unting estim<span class=\"_ _0\"></span>ates and jud<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s are includ<span class=\"_ _0\"></span>ed below a<span class=\"_ _0\"></span>nd fur<span class=\"_ _0\"></span>ther cons<span class=\"_ _0\"></span>ideration is a<span class=\"_ _0\"></span>lso given to how c<span class=\"_ _0\"></span>limate risk af<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>cts o<span class=\"_ _0\"></span>ur account<span class=\"_ _2\"></span> judgements and esti<span class=\"_ _2\"></span>mates.<span class=\"_ _3bd\"> </span>A5.1 In<span class=\"_ _0\"></span>suran<span class=\"_ _0\"></span>ce con<span class=\"_ _0\"></span>trac<span class=\"_ _0\"></span>t and inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>t contr<span class=\"_ _0\"></span>act wit<span class=\"_ _0\"></span>h DPF lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up applies si<span class=\"_ _0\"></span>gnificant j<span class=\"_ _0\"></span>udgeme<span class=\"_ _0\"></span>nt and est<span class=\"_ _0\"></span>imation when c<span class=\"_ _0\"></span>lassif<span class=\"_ _0\"></span>ying an<span class=\"_ _0\"></span>d measurin<span class=\"_ _0\"></span>g insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g determinatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e input<span class=\"_ _0\"></span>s, as<span class=\"_ _0\"></span>sumptions a<span class=\"_ _0\"></span>nd techniq<span class=\"_ _0\"></span>ues it use<span class=\"_ _0\"></span>s to determine the B<span class=\"_ _0\"></span>EL, risk ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent and CS<span class=\"_ _0\"></span>M at each re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing perio<span class=\"_ _0\"></span>d to measure th<span class=\"_ _0\"></span>e insuranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>act and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>/<span class=\"_ _4\"></span>as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>. The main are<span class=\"_ _0\"></span>as where sig<span class=\"_ _0\"></span>nificant ju<span class=\"_ _0\"></span>dgeme<span class=\"_ _0\"></span>nt and est<span class=\"_ _0\"></span>imation were re<span class=\"_ _0\"></span>quired are:<span class=\"_ _3bd\"> </span>Contract classification Clas<span class=\"_ _0\"></span>sificatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s as insura<span class=\"_ _0\"></span>nce (or reinsur<span class=\"_ _0\"></span>ance) is bas<span class=\"_ _0\"></span>ed upon an a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the si<span class=\"_ _0\"></span>gnifican<span class=\"_ _0\"></span>ce of insuran<span class=\"_ _0\"></span>ce risk tran<span class=\"_ _0\"></span>sferred to the G<span class=\"_ _0\"></span>roup. Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are defined by I<span class=\"_ _0\"></span>FRS 17 as thos<span class=\"_ _0\"></span>e containin<span class=\"_ _0\"></span>g significa<span class=\"_ _0\"></span>nt insuranc<span class=\"_ _0\"></span>e risk if, and only if, an insure<span class=\"_ _0\"></span>d event could c<span class=\"_ _0\"></span>ause an in<span class=\"_ _0\"></span>surer to make signific<span class=\"_ _0\"></span>ant additio<span class=\"_ _0\"></span>nal payment<span class=\"_ _0\"></span>s in any scen<span class=\"_ _0\"></span>ario, excludin<span class=\"_ _0\"></span>g scen<span class=\"_ _0\"></span>arios that la<span class=\"_ _0\"></span>ck comme<span class=\"_ _0\"></span>rcial subs<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>, at the incept<span class=\"_ _0\"></span>ion of the contra<span class=\"_ _0\"></span>ct.<span class=\"_ _3bd\"> </span>Clas<span class=\"_ _0\"></span>sificatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s as investm<span class=\"_ _0\"></span>ent with DPF is b<span class=\"_ _0\"></span>ased up<span class=\"_ _0\"></span>on an ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of whether th<span class=\"_ _0\"></span>e discretion<span class=\"_ _0\"></span>ary am<span class=\"_ _0\"></span>ount of benefit<span class=\"_ _0\"></span>s is expe<span class=\"_ _0\"></span>cted to be a<span class=\"_ gs47\"> </span>signifi<span class=\"_ _0\"></span>cant amount of th<span class=\"_ _0\"></span>e total bene<span class=\"_ _0\"></span>fits. Measuremen<span class=\"_ _2\"></span>t of i<span class=\"_ _2\"></span>nsurance cont<span class=\"_ _2\"></span>ract liabili<span class=\"_ _2\"></span>ties<span class=\"_ _3bd\"> </span>In appl<span class=\"_ _0\"></span>ying IFRS 17 re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s for the me<span class=\"_ _0\"></span>asurement of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>, the following inp<span class=\"_ _0\"></span>uts and m<span class=\"_ _0\"></span>ethods we<span class=\"_ _0\"></span>re used tha<span class=\"_ _0\"></span>t include signi<span class=\"_ _2\"></span>ficant estima<span class=\"_ _2\"></span>tes:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>resent valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>uture cas<span class=\"_ _0\"></span>h flows is est<span class=\"_ _0\"></span>imated using d<span class=\"_ _0\"></span>eterministi<span class=\"_ _0\"></span>c scena<span class=\"_ _0\"></span>rios, exce<span class=\"_ _0\"></span>pt where sto<span class=\"_ _0\"></span>chas<span class=\"_ _0\"></span>tic modellin<span class=\"_ _0\"></span>g inv<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lves proje<span class=\"_ _0\"></span>cting fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh flows under a l<span class=\"_ _0\"></span>arge numbe<span class=\"_ _0\"></span>r of possib<span class=\"_ _0\"></span>le econo<span class=\"_ _0\"></span>mic scen<span class=\"_ _0\"></span>arios for market varia<span class=\"_ _0\"></span>bles such a<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span>s and equit<span class=\"_ _0\"></span>y return<span class=\"_ _0\"></span>s and where th<span class=\"_ _0\"></span>e cash flows refl<span class=\"_ _0\"></span>ect a se<span class=\"_ _0\"></span>ries of interrelate<span class=\"_ _0\"></span>d options that a<span class=\"_ _0\"></span>re implicit or expli<span class=\"_ _0\"></span>cit;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>pproach an<span class=\"_ _0\"></span>d assumpt<span class=\"_ _0\"></span>ions use<span class=\"_ _0\"></span>d to derive disco<span class=\"_ _0\"></span>unt rates, in<span class=\"_ _0\"></span>cluding any illiq<span class=\"_ _0\"></span>uid premiums (se<span class=\"_ _0\"></span>e note F11.<span class=\"_ _0\"></span>2.1);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>pproach an<span class=\"_ _0\"></span>d confiden<span class=\"_ _0\"></span>ce level for es<span class=\"_ _0\"></span>timating ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tments for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk (se<span class=\"_ _0\"></span>e note F11.<span class=\"_ _0\"></span>2.2)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s about f<span class=\"_ _0\"></span>uture cash fl<span class=\"_ _0\"></span>ows relating to m<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>lity, morbidit<span class=\"_ _0\"></span>y, policyh<span class=\"_ _0\"></span>older beh<span class=\"_ _0\"></span>aviour<span class=\"_ _2\"></span>, an<span class=\"_ _0\"></span>d expens<span class=\"_ _0\"></span>e inflation (see n<span class=\"_ _0\"></span>ote F11.<span class=\"_ _0\"></span>2.3). Det<span class=\"_ _0\"></span>ails of how insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es are acc<span class=\"_ _0\"></span>ounted for are inc<span class=\"_ _0\"></span>luded within t<span class=\"_ _0\"></span>he acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s in note F1.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsd0\">Amo<span class=\"_ _0\"></span>rtis<span class=\"_ _0\"></span>ation o<span class=\"_ _0\"></span>f the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd1\">The Gro<span class=\"_ _0\"></span>up applies j<span class=\"_ _0\"></span>udgeme<span class=\"_ _0\"></span>nts when d<span class=\"_ _0\"></span>etermining the a<span class=\"_ _0\"></span>mount of CS<span class=\"_ _0\"></span>M for a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts to b<span class=\"_ _0\"></span>e recogn<span class=\"_ _0\"></span>ised in profit or l<span class=\"_ _0\"></span>oss as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd2\">insur<span class=\"_ _0\"></span>ance revenu<span class=\"_ _0\"></span>e in each pe<span class=\"_ _0\"></span>riod to reflec<span class=\"_ _0\"></span>t the insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s provided in th<span class=\"_ _0\"></span>at period<span class=\"_ _0\"></span>. The amount i<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d by conside<span class=\"_ _0\"></span>ring for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd3\">eac<span class=\"_ _0\"></span>h group of contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e quantit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>enefits p<span class=\"_ _0\"></span>rovided and t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted covera<span class=\"_ _0\"></span>ge perio<span class=\"_ _0\"></span>d. Determ<span class=\"_ _0\"></span>ining the cover<span class=\"_ _0\"></span>age unit req<span class=\"_ _0\"></span>uires signific<span class=\"_ _0\"></span>ant </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd4\">judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, taking into co<span class=\"_ _0\"></span>nsiderati<span class=\"_ _0\"></span>on a number of are<span class=\"_ _0\"></span>as, in<span class=\"_ _0\"></span>cluding: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd5\">\u2022 <span class=\"_ _19\"> </span>ide<span class=\"_ _0\"></span>ntification of a cover<span class=\"_ _0\"></span>age unit th<span class=\"_ _0\"></span>at is deem<span class=\"_ _0\"></span>ed to be a suit<span class=\"_ _0\"></span>able prox<span class=\"_ _0\"></span>y f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the ser<span class=\"_ _0\"></span>vice provide<span class=\"_ _0\"></span>d. This is pa<span class=\"_ _0\"></span>rticul<span class=\"_ _0\"></span>arly relevant for p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s that </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd6\">provide a c<span class=\"_ _0\"></span>ombination of dif<span class=\"_ _0\"></span>ferent t<span class=\"_ _0\"></span>ypes of insur<span class=\"_ _0\"></span>ance cover<span class=\"_ _0\"></span>age, inves<span class=\"_ _0\"></span>tment-relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vice and inves<span class=\"_ _0\"></span>tment-return s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd7\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>llowance for tim<span class=\"_ _0\"></span>e value of money in th<span class=\"_ _0\"></span>e releas<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e unit (i.e. wheth<span class=\"_ _0\"></span>er or not the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage unit<span class=\"_ _0\"></span>s should b<span class=\"_ _0\"></span>e discounte<span class=\"_ _0\"></span>d).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd8\">For deferre<span class=\"_ _0\"></span>d annuities t<span class=\"_ _0\"></span>he weighting b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the deferral p<span class=\"_ _0\"></span>hase an<span class=\"_ _0\"></span>d the payment p<span class=\"_ _0\"></span>hase cover<span class=\"_ _0\"></span>age unit<span class=\"_ _0\"></span>s is calcula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d so that th<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices provide<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsd9\">in the defer<span class=\"_ _0\"></span>ral phas<span class=\"_ _0\"></span>e reflect th<span class=\"_ _0\"></span>e investment re<span class=\"_ _0\"></span>turn and tho<span class=\"_ _0\"></span>se in the payme<span class=\"_ _0\"></span>nt phase refl<span class=\"_ _0\"></span>ect the a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y payment with th<span class=\"_ _0\"></span>e total ser<span class=\"_ _0\"></span>vices a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsda\">provide a c<span class=\"_ _0\"></span>onsistent l<span class=\"_ _0\"></span>evel of ser<span class=\"_ _0\"></span>vice when tr<span class=\"_ _0\"></span>ansitionin<span class=\"_ _0\"></span>g betwe<span class=\"_ _0\"></span>en the deferr<span class=\"_ _0\"></span>al phase a<span class=\"_ _0\"></span>nd the payme<span class=\"_ _0\"></span>nt phase<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsdb\">Following a<span class=\"_ _0\"></span>n asses<span class=\"_ _0\"></span>sment<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as determine<span class=\"_ _0\"></span>d the quantit<span class=\"_ _0\"></span>y of the be<span class=\"_ _0\"></span>nefits provid<span class=\"_ _0\"></span>ed under e<span class=\"_ _0\"></span>ach contr<span class=\"_ _0\"></span>act to be a sui<span class=\"_ _0\"></span>table prox<span class=\"_ _0\"></span>y for the ser<span class=\"_ _0\"></span>vice </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsdc\">provide<span class=\"_ _0\"></span>d as follows:<span class=\"_ _3bd\"> </span></div><div class=\"gsdd\"><table class=\"s w231 h209\" id=\"_a810fe43-e88e-4d4a-9cf7-52df29f06fc9\"><tr><td class=\"c n x1d4 y5ae8 w232 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">T<span class=\"_ _2\"></span>ype of business/<span class=\"_ _2\"></span>products<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x519 y5ae8 w233 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">C<span class=\"_ _0\"></span>overa<span class=\"_ _0\"></span>ge uni<span class=\"_ _0\"></span>t (quan<span class=\"_ _0\"></span>tity o<span class=\"_ _0\"></span>f bene<span class=\"_ _0\"></span>fits)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5ae9 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rm life assur<span class=\"_ _0\"></span>ance<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x51a hc y5aea ff2 fs6 fc3 sc0 ls1 ws1\">Sum a<span class=\"_ _0\"></span>ssured in forc<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5aeb ff2 fs6 fc3 sc0 ls17 ws18\">Endowm<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y5aec ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>partic<span class=\"_ _0\"></span>ipating who<span class=\"_ _0\"></span>le-life<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y5aed ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er protec<span class=\"_ _0\"></span>tion produc<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"c n x1d4 y5a13 w234 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">Imme<span class=\"_ _0\"></span>diate annuit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51b y5a13 w235 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Annuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>yme<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 w236 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d annuit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51c y5ae6 w237 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fund size during defe<span class=\"_ _0\"></span>rred perio<span class=\"_ _0\"></span>d and annuit<span class=\"_ _0\"></span>y paym<span class=\"_ _0\"></span>ents for the pay<span class=\"_ _0\"></span>ment perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w238 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unit linked<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51d y5a15 w239 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Annual management<span class=\"_ _2\"></span> charge and<span class=\"_ _2\"></span> insurance char<span class=\"_ _2\"></span>ges<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w23a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Conventional with-profits (<span class=\"_ _0\"></span>\u2018CWP\u2019<span class=\"_ _0\"></span>) &amp; Unitised with-profits (\u2018<span class=\"_ _0\"></span>UWP<span class=\"_ _0\"></span>\u2019)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51e y5a16 w23b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ma<span class=\"_ _0\"></span>ximum of the gu<span class=\"_ _0\"></span>aranteed b<span class=\"_ _0\"></span>enefit an<span class=\"_ _0\"></span>d asset s<span class=\"_ _0\"></span>hare<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsde\">In relat<span class=\"_ _0\"></span>ion to the applic<span class=\"_ _0\"></span>ation of disco<span class=\"_ _0\"></span>unt rate in determinin<span class=\"_ _0\"></span>g the coverag<span class=\"_ _0\"></span>e units<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as elec<span class=\"_ _0\"></span>ted to apply dis<span class=\"_ _0\"></span>counting a<span class=\"_ _0\"></span>s this gives a more </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsdf\">even allo<span class=\"_ _0\"></span>cation of profit as s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces are provide<span class=\"_ _0\"></span>d over the life of a group of contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. The dis<span class=\"_ _0\"></span>count rate is the l<span class=\"_ _0\"></span>ocked-in rate for ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse0\">mea<span class=\"_ _0\"></span>sured unde<span class=\"_ _0\"></span>r the gen<span class=\"_ _0\"></span>eral mod<span class=\"_ _0\"></span>el (\u2018GM<span class=\"_ _0\"></span>\u2019) a<span class=\"_ _0\"></span>nd current rate<span class=\"_ _0\"></span>s for insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts me<span class=\"_ _0\"></span>asured un<span class=\"_ _0\"></span>der the variab<span class=\"_ _0\"></span>le fee appro<span class=\"_ _0\"></span>ach (\u2018<span class=\"_ _0\"></span>VF<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>). </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gse1\">A5.<span class=\"_ _0\"></span>2 Fair val<span class=\"_ _0\"></span>ue of fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse2\">A signifi<span class=\"_ _0\"></span>cant por<span class=\"_ _0\"></span>tion of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities are me<span class=\"_ _0\"></span>asured at fa<span class=\"_ _0\"></span>ir value and ac<span class=\"_ _0\"></span>counted for a<span class=\"_ _0\"></span>s set out in the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policies </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse3\">in note E1<span class=\"_ _0\"></span>. Financia<span class=\"_ _0\"></span>l instrum<span class=\"_ _0\"></span>ents value<span class=\"_ _0\"></span>d where valu<span class=\"_ _0\"></span>ation techni<span class=\"_ _0\"></span>ques are bas<span class=\"_ _0\"></span>ed on obs<span class=\"_ _0\"></span>ervab<span class=\"_ _0\"></span>le market data at th<span class=\"_ _0\"></span>e period en<span class=\"_ _0\"></span>d are categ<span class=\"_ _0\"></span>orise<span class=\"_ _0\"></span>d as Level </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse4\">2 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>. Financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments val<span class=\"_ _0\"></span>ued where va<span class=\"_ _0\"></span>luation tech<span class=\"_ _0\"></span>niques are b<span class=\"_ _0\"></span>ased on n<span class=\"_ _0\"></span>on-obse<span class=\"_ _0\"></span>rvabl<span class=\"_ _0\"></span>e inputs are c<span class=\"_ _0\"></span>ategori<span class=\"_ _0\"></span>sed as Level 3 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse5\">finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>. Level 2 and Level 3 fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s therefore involve the us<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>stimates<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse6\">Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e estimate<span class=\"_ _0\"></span>s made are inc<span class=\"_ _0\"></span>luded in note E<span class=\"_ _0\"></span>2. In relation to th<span class=\"_ _0\"></span>e Level 3 financia<span class=\"_ _0\"></span>l instrum<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, sensitiv<span class=\"_ _0\"></span>ity an<span class=\"_ _0\"></span>alysis is pe<span class=\"_ _0\"></span>rforme<span class=\"_ _0\"></span>d in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse7\">resp<span class=\"_ _0\"></span>ect of<span class=\"_ gs47\"> </span>the key as<span class=\"_ _0\"></span>sumptions us<span class=\"_ _0\"></span>ed in the valu<span class=\"_ _0\"></span>ation of these fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s. The d<span class=\"_ _0\"></span>etails of this se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y analys<span class=\"_ _0\"></span>is are include<span class=\"_ _0\"></span>d in note E2.4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gse8\">A5.3 Pension scheme obligati<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gse9\">The val<span class=\"_ _0\"></span>uation of pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>e obligatio<span class=\"_ _0\"></span>ns is determin<span class=\"_ _0\"></span>ed using ac<span class=\"_ _0\"></span>tuarial v<span class=\"_ _0\"></span>aluations th<span class=\"_ _0\"></span>at depen<span class=\"_ _0\"></span>d upon a numbe<span class=\"_ _0\"></span>r of assumptio<span class=\"_ _0\"></span>ns, inc<span class=\"_ _0\"></span>luding </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsea\">disc<span class=\"_ _0\"></span>ount rate, inflati<span class=\"_ _0\"></span>on and long<span class=\"_ _0\"></span>evity. Ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l actuar<span class=\"_ _0\"></span>ial advice is t<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n with rega<span class=\"_ _0\"></span>rd to settin<span class=\"_ _0\"></span>g the financ<span class=\"_ _0\"></span>ial assum<span class=\"_ _0\"></span>ptions to be us<span class=\"_ _0\"></span>ed in the valua<span class=\"_ _0\"></span>tion. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gseb\">As defin<span class=\"_ _0\"></span>ed bene<span class=\"_ _0\"></span>fit pensio<span class=\"_ _0\"></span>n scheme<span class=\"_ _0\"></span>s are long-te<span class=\"_ _0\"></span>rm in nature, su<span class=\"_ _0\"></span>ch assum<span class=\"_ _0\"></span>ptions can b<span class=\"_ _0\"></span>e subje<span class=\"_ _0\"></span>ct to signific<span class=\"_ _0\"></span>ant uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsec\">Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>ese es<span class=\"_ _0\"></span>timates and th<span class=\"_ _0\"></span>e sensitiv<span class=\"_ _0\"></span>ity of the de<span class=\"_ _0\"></span>fined ben<span class=\"_ _0\"></span>efit obligat<span class=\"_ _0\"></span>ion to k<span class=\"_ _2\"></span>ey as<span class=\"_ _0\"></span>sumptions a<span class=\"_ _0\"></span>re provided in note G1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsed\">A5.<span class=\"_ _0\"></span>4 Adju<span class=\"_ _0\"></span>sted o<span class=\"_ _0\"></span>perat<span class=\"_ _0\"></span>ing pro<span class=\"_ _0\"></span>fit<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsee\">Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit is t<span class=\"_ _0\"></span>he Group\u2019s non-<span class=\"_ _0\"></span>G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP meas<span class=\"_ _0\"></span>ure of perfor<span class=\"_ _0\"></span>mance an<span class=\"_ _0\"></span>d provides s<span class=\"_ _0\"></span>tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s with a compa<span class=\"_ _0\"></span>rable me<span class=\"_ _0\"></span>asure of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsef\">under<span class=\"_ _0\"></span>lying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the Group. T<span class=\"_ _0\"></span>he Group is req<span class=\"_ _0\"></span>uired to make judg<span class=\"_ _0\"></span>ements a<span class=\"_ _0\"></span>s to the appropr<span class=\"_ _0\"></span>iate longer<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>rm rates of investm<span class=\"_ _0\"></span>ent return for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf0\">the dete<span class=\"_ _0\"></span>rmination of ad<span class=\"_ _0\"></span>justed o<span class=\"_ _0\"></span>perating p<span class=\"_ _0\"></span>rofit base<span class=\"_ _0\"></span>d on yields at th<span class=\"_ _0\"></span>e star<span class=\"_ _0\"></span>t of the financ<span class=\"_ _0\"></span>ial year<span class=\"_ _2\"></span>, a<span class=\"_ _0\"></span>s detailed in n<span class=\"_ _0\"></span>ote B2, and as to wh<span class=\"_ _0\"></span>ether items a<span class=\"_ _0\"></span>re </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf1\">inclu<span class=\"_ _0\"></span>ded within a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit or exclud<span class=\"_ _0\"></span>ed as an ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt to adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating profit in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with the ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf2\">deta<span class=\"_ _0\"></span>iled in note B1. I<span class=\"_ _0\"></span>tems exclude<span class=\"_ _0\"></span>d from adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating profi<span class=\"_ _0\"></span>t are referred to as \u2018non-<span class=\"_ _0\"></span>operatin<span class=\"_ _0\"></span>g items\u2019<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gsf3\">A5.5 Control and consolidation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf4\">The Gro<span class=\"_ _0\"></span>up has investe<span class=\"_ _0\"></span>d in a number of c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes a<span class=\"_ _0\"></span>nd other t<span class=\"_ _0\"></span>ypes of inves<span class=\"_ _0\"></span>tment where j<span class=\"_ _0\"></span>udgem<span class=\"_ _0\"></span>ent is applie<span class=\"_ _0\"></span>d in determining </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf5\">wheth<span class=\"_ _0\"></span>er the Group c<span class=\"_ _0\"></span>ontrols the ac<span class=\"_ _0\"></span>tivities of the<span class=\"_ _0\"></span>se entitie<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se entities are t<span class=\"_ _0\"></span>ypic<span class=\"_ _0\"></span>ally stru<span class=\"_ _0\"></span>ctured in s<span class=\"_ _0\"></span>uch a way that ownin<span class=\"_ _0\"></span>g the maj<span class=\"_ _0\"></span>ority of th<span class=\"_ _0\"></span>e v<span class=\"_ _2\"></span>otin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf6\">right<span class=\"_ _0\"></span>s is not the con<span class=\"_ _0\"></span>clusive fac<span class=\"_ _0\"></span>tor in the determ<span class=\"_ _0\"></span>ination of control in lin<span class=\"_ _0\"></span>e with the require<span class=\"_ _0\"></span>ments of I<span class=\"_ _0\"></span>FRS 10 Co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d Financi<span class=\"_ _0\"></span>al Stateme<span class=\"_ _0\"></span>nts. Th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf7\">control a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment th<span class=\"_ _0\"></span>erefore involves a numb<span class=\"_ _0\"></span>er of furth<span class=\"_ _0\"></span>er consid<span class=\"_ _0\"></span>erations s<span class=\"_ _0\"></span>uch as wheth<span class=\"_ _0\"></span>er the Group h<span class=\"_ _0\"></span>as a unilateral p<span class=\"_ _0\"></span>ower of veto in gene<span class=\"_ _0\"></span>ral </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf8\">me<span class=\"_ _0\"></span>etings and w<span class=\"_ _0\"></span>hether th<span class=\"_ _0\"></span>e existenc<span class=\"_ _0\"></span>e of other agre<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s restric<span class=\"_ _0\"></span>t the Group from b<span class=\"_ _0\"></span>eing able to influ<span class=\"_ _0\"></span>ence the a<span class=\"_ _0\"></span>ctivitie<span class=\"_ _0\"></span>s. Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>ese </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsf9\">judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s are given in note H1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsfa\">A5.<span class=\"_ _0\"></span>6 How cli<span class=\"_ _0\"></span>mate ris<span class=\"_ _0\"></span>k affe<span class=\"_ _0\"></span>cts ou<span class=\"_ _0\"></span>r acco<span class=\"_ _0\"></span>unting j<span class=\"_ _0\"></span>udgm<span class=\"_ _0\"></span>ents a<span class=\"_ _0\"></span>nd est<span class=\"_ _0\"></span>imates </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsfb\">In prep<span class=\"_ _0\"></span>aration of the<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, the Group ha<span class=\"_ _0\"></span>s conside<span class=\"_ _0\"></span>red the impa<span class=\"_ _0\"></span>ct of climate ch<span class=\"_ _0\"></span>ange ac<span class=\"_ _0\"></span>ross a numb<span class=\"_ _0\"></span>er of areas<span class=\"_ _0\"></span>, predomin<span class=\"_ _0\"></span>antly </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsfc\">in<span class=\"_ gs47\"> </span>resp<span class=\"_ _0\"></span>ect of<span class=\"_ gs47\"> </span>the val<span class=\"_ _0\"></span>uation of financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es and go<span class=\"_ _0\"></span>odwill and oth<span class=\"_ _0\"></span>er intangib<span class=\"_ _0\"></span>le asset<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsfd\">Many of the ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s arising fro<span class=\"_ _0\"></span>m climate chan<span class=\"_ _0\"></span>ge will be lon<span class=\"_ _0\"></span>ger-term in nat<span class=\"_ _0\"></span>ure, with an inhe<span class=\"_ _0\"></span>rent level of unce<span class=\"_ _0\"></span>rtaint<span class=\"_ _0\"></span>y, and have bee<span class=\"_ _0\"></span>n asse<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsfe\">having a<span class=\"_ gs47\"> </span>lim<span class=\"_ _0\"></span>ited effe<span class=\"_ _0\"></span>ct on acc<span class=\"_ _0\"></span>ounting jud<span class=\"_ _0\"></span>gments a<span class=\"_ _0\"></span>nd estim<span class=\"_ _0\"></span>ates for the curre<span class=\"_ _0\"></span>nt period<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsff\">The m<span class=\"_ _0\"></span>ajorit<span class=\"_ _0\"></span>y of the Group\u2019s financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts are held a<span class=\"_ _0\"></span>t fair value and u<span class=\"_ _0\"></span>se quoted ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et pri<span class=\"_ _0\"></span>ces or obs<span class=\"_ _0\"></span>ervab<span class=\"_ _0\"></span>le market inputs in t<span class=\"_ _0\"></span>heir valuatio<span class=\"_ _0\"></span>n. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs100\">use of quote<span class=\"_ _0\"></span>d market prices a<span class=\"_ _0\"></span>nd market input<span class=\"_ _0\"></span>s to determine fair va<span class=\"_ _0\"></span>lue reflec<span class=\"_ _0\"></span>ts current inform<span class=\"_ _0\"></span>ation and ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et s<span class=\"_ _0\"></span>entiment reg<span class=\"_ _0\"></span>arding the ef<span class=\"_ _0\"></span>fect of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs101\">climate ri<span class=\"_ _0\"></span>sk. For the val<span class=\"_ _0\"></span>uation of level 3 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, there are n<span class=\"_ _0\"></span>o material un<span class=\"_ _0\"></span>obser<span class=\"_ _0\"></span>vable inpu<span class=\"_ _0\"></span>ts in relation to c<span class=\"_ _0\"></span>limate risk. N<span class=\"_ _0\"></span>ote E6 provides<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs103\">fur<span class=\"_ _0\"></span>ther risk m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment disc<span class=\"_ _0\"></span>losures in rela<span class=\"_ _0\"></span>tion to financia<span class=\"_ _0\"></span>l risks includin<span class=\"_ _0\"></span>g sensiti<span class=\"_ _0\"></span>vities in relati<span class=\"_ _0\"></span>on to credit and m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et r<span class=\"_ _0\"></span>isk. In ad<span class=\"_ _0\"></span>dition, fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etails </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs104\">on man<span class=\"_ _0\"></span>aging the re<span class=\"_ _0\"></span>lated clima<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e c<span class=\"_ _0\"></span>hange ri<span class=\"_ _0\"></span>sks are provided in th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>ask Forc<span class=\"_ _0\"></span>e for Climate-re<span class=\"_ _0\"></span>lated Fina<span class=\"_ _0\"></span>ncial Dis<span class=\"_ _0\"></span>closures (<span class=\"_ _0\"></span>\u2018TCFD\u2019<span class=\"_ _0\"></span>) on pag<span class=\"_ _0\"></span>e 54 of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs105\">Annua<span class=\"_ _0\"></span>l Repor<span class=\"_ _0\"></span>t and Acc<span class=\"_ _0\"></span>ounts<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs106\">Insur<span class=\"_ _0\"></span>ance an<span class=\"_ _0\"></span>d in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities with D<span class=\"_ _0\"></span>PF use ec<span class=\"_ _0\"></span>onomic as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>aking into acc<span class=\"_ _0\"></span>ount market cond<span class=\"_ _0\"></span>itions at the val<span class=\"_ _0\"></span>uation date as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs107\">well<span class=\"_ gs47\"> </span>as n<span class=\"_ _0\"></span>on-eco<span class=\"_ _0\"></span>nomic as<span class=\"_ _0\"></span>sumptions su<span class=\"_ _0\"></span>ch as future ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s, lon<span class=\"_ _0\"></span>gevit<span class=\"_ _0\"></span>y and mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, whi<span class=\"_ _0\"></span>ch are set bas<span class=\"_ _0\"></span>ed on pas<span class=\"_ _0\"></span>t experi<span class=\"_ _0\"></span>ence, m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs108\">reg<span class=\"_ _0\"></span>ulations and e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>tations ab<span class=\"_ _0\"></span>out future tre<span class=\"_ _0\"></span>nds. D<span class=\"_ _0\"></span>ue to the level of ann<span class=\"_ _0\"></span>uities writ<span class=\"_ _0\"></span>ten by the Group, i<span class=\"_ _0\"></span>t is parti<span class=\"_ _0\"></span>cularly exp<span class=\"_ _0\"></span>osed to lon<span class=\"_ _0\"></span>gevit<span class=\"_ _0\"></span>y risk. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs109\">While<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e impact of clim<span class=\"_ _0\"></span>ate chang<span class=\"_ _0\"></span>e on longevi<span class=\"_ _0\"></span>ty as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>as been c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d, as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 there<span class=\"_ gs47\"> </span>are no a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ments ma<span class=\"_ _0\"></span>de to the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs10a\">long<span class=\"_ _0\"></span>evity a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>ns to speci<span class=\"_ _0\"></span>fically allow for th<span class=\"_ _0\"></span>e impact of c<span class=\"_ _0\"></span>limate chang<span class=\"_ _0\"></span>e on annuit<span class=\"_ _0\"></span>ant mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Furth<span class=\"_ _0\"></span>er details a<span class=\"_ _0\"></span>s<span class=\"_ gs47\"> </span>to how ass<span class=\"_ _0\"></span>umptions are set a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs10b\">of the se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y of the Group\u2019s result<span class=\"_ _0\"></span>s to annuitant lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y and othe<span class=\"_ _0\"></span>r k<span class=\"_ _2\"></span>ey ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>ks are set out in note F1<span class=\"_ _0\"></span>1. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs10c\">The as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of impairm<span class=\"_ _0\"></span>ent for goo<span class=\"_ _0\"></span>dwill and inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets is b<span class=\"_ _0\"></span>ased on va<span class=\"_ _0\"></span>lue in use ca<span class=\"_ _0\"></span>lculations<span class=\"_ _0\"></span>. V<span class=\"_ _2\"></span>alue in us<span class=\"_ _0\"></span>e represe<span class=\"_ _0\"></span>nts the value of f<span class=\"_ _0\"></span>uture </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs10d\">ca<span class=\"_ _0\"></span>sh flows and us<span class=\"_ _0\"></span>es the Group\u2019s three<span class=\"_ _0\"></span>-year ann<span class=\"_ _0\"></span>ual oper<span class=\"_ _0\"></span>ating plan an<span class=\"_ _0\"></span>d the expe<span class=\"_ _0\"></span>ctation of lon<span class=\"_ _0\"></span>g-term ec<span class=\"_ _0\"></span>onomic grow<span class=\"_ _0\"></span>th beyon<span class=\"_ _0\"></span>d this perio<span class=\"_ _0\"></span>d. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs10e\">three<span class=\"_ _0\"></span>-year an<span class=\"_ _0\"></span>nual oper<span class=\"_ _0\"></span>ating plan refl<span class=\"_ _0\"></span>ects m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s curre<span class=\"_ _0\"></span>nt expec<span class=\"_ _0\"></span>tations on c<span class=\"_ _0\"></span>ompetitive<span class=\"_ _0\"></span>ness an<span class=\"_ _0\"></span>d profitabilit<span class=\"_ _0\"></span>y and refle<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs10f\">impac<span class=\"_ _0\"></span>ts of the pro<span class=\"_ _0\"></span>cess of m<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>vin<span class=\"_ _0\"></span>g towards a low ca<span class=\"_ _0\"></span>rbon ec<span class=\"_ _0\"></span>onomy<span class=\"_ _2\"></span>. N<span class=\"_ _0\"></span>ote G2 provides fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails on go<span class=\"_ _0\"></span>odwill and oth<span class=\"_ _0\"></span>er intangib<span class=\"_ _0\"></span>le asse<span class=\"_ _0\"></span>ts and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs110\">on<span class=\"_ gs47\"> </span>impair<span class=\"_ _0\"></span>ment test<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formed.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls6b ws169 gs111\">A6. New a<span class=\"_ _0\"></span>ccounting pr<span class=\"_ _0\"></span>onouncem<span class=\"_ _0\"></span>ents not yet ef<span class=\"_ _0\"></span>fective<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs112\">The IAS<span class=\"_ _0\"></span>B has is<span class=\"_ _0\"></span>sued th<span class=\"_ _0\"></span>e f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>llowing sta<span class=\"_ _0\"></span>ndards or am<span class=\"_ _0\"></span>ended s<span class=\"_ _0\"></span>tanda<span class=\"_ _0\"></span>rds and interpret<span class=\"_ _0\"></span>ations whic<span class=\"_ _0\"></span>h apply from the d<span class=\"_ _0\"></span>ates shown<span class=\"_ _0\"></span>. The Group ha<span class=\"_ _0\"></span>s decide<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs113\">not to ear<span class=\"_ _0\"></span>ly adopt any of thes<span class=\"_ _0\"></span>e stan<span class=\"_ _0\"></span>dards, a<span class=\"_ _0\"></span>mendme<span class=\"_ _0\"></span>nts or interpret<span class=\"_ _0\"></span>ations whe<span class=\"_ _0\"></span>re this is permi<span class=\"_ _0\"></span>tted<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs114\">Lac<span class=\"_ _0\"></span>k of Exc<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>eabili<span class=\"_ _0\"></span>ty (Am<span class=\"_ _0\"></span>endm<span class=\"_ _0\"></span>ents to IA<span class=\"_ _0\"></span>S 21 The Ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of Chan<span class=\"_ _0\"></span>ges in Fore<span class=\"_ _0\"></span>ign Exc<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>e Rates) (1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2025<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs115\">The am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s clarif<span class=\"_ _0\"></span>y how an entit<span class=\"_ _0\"></span>y sho<span class=\"_ _0\"></span>uld asse<span class=\"_ _0\"></span>ss wheth<span class=\"_ _0\"></span>er a curren<span class=\"_ _0\"></span>cy is exchan<span class=\"_ _0\"></span>geable an<span class=\"_ _0\"></span>d how it sho<span class=\"_ _0\"></span>uld determine a s<span class=\"_ _0\"></span>pot exchang<span class=\"_ _0\"></span>e rate when </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs116\">exchan<span class=\"_ _0\"></span>geabilit<span class=\"_ _0\"></span>y is lac<span class=\"_ _0\"></span>king, a<span class=\"_ _0\"></span>s well as require th<span class=\"_ _0\"></span>e disclosure of inform<span class=\"_ _0\"></span>ation that en<span class=\"_ _0\"></span>ables use<span class=\"_ _0\"></span>rs of financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents to unde<span class=\"_ _0\"></span>rsta<span class=\"_ _0\"></span>nd the impac<span class=\"_ _0\"></span>t of a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs117\">curren<span class=\"_ _0\"></span>cy not be<span class=\"_ _0\"></span>ing exchang<span class=\"_ _0\"></span>eable. T<span class=\"_ _0\"></span>hese ame<span class=\"_ _0\"></span>ndment<span class=\"_ _0\"></span>s are not expe<span class=\"_ _0\"></span>cted to have any impa<span class=\"_ _0\"></span>ct on the G<span class=\"_ _0\"></span>roup.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs118\">Ame<span class=\"_ _0\"></span>ndme<span class=\"_ _0\"></span>nts to th<span class=\"_ _0\"></span>e Class<span class=\"_ _0\"></span>ificat<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d Measu<span class=\"_ _0\"></span>reme<span class=\"_ _0\"></span>nt of Finan<span class=\"_ _0\"></span>cial I<span class=\"_ _0\"></span>nstr<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s \u2013 Amend<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s to IFRS 9 an<span class=\"_ _0\"></span>d IFRS 7 (1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y 2026<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs119\">The IAS<span class=\"_ _0\"></span>B issu<span class=\"_ _0\"></span>ed targ<span class=\"_ _0\"></span>eted amen<span class=\"_ _0\"></span>dments to I<span class=\"_ _0\"></span>FRS 9 and IFR<span class=\"_ _0\"></span>S 7 to respond to re<span class=\"_ _0\"></span>cent que<span class=\"_ _0\"></span>stions ari<span class=\"_ _0\"></span>sing in prac<span class=\"_ _0\"></span>tice. Th<span class=\"_ _0\"></span>ese amen<span class=\"_ _0\"></span>dments<span class=\"_ _0\"></span>: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs11a\">\u2022 <span class=\"_ _19\"> </span>cla<span class=\"_ _0\"></span>rify the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion and dere<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion of some finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, with a new exce<span class=\"_ _0\"></span>ption for some fin<span class=\"_ _0\"></span>ancial liab<span class=\"_ _0\"></span>ilities set<span class=\"_ _0\"></span>tled </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs11b\">throu<span class=\"_ _0\"></span>gh an elec<span class=\"_ _0\"></span>tronic ca<span class=\"_ _0\"></span>sh transfe<span class=\"_ _0\"></span>r system; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs11c\">\u2022 <span class=\"_ _19\"> </span>cla<span class=\"_ _0\"></span>rify an<span class=\"_ _0\"></span>d add fur<span class=\"_ _0\"></span>ther guid<span class=\"_ _0\"></span>ance for as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sing whethe<span class=\"_ _0\"></span>r a financial a<span class=\"_ _0\"></span>sset m<span class=\"_ _0\"></span>eets th<span class=\"_ _0\"></span>e solely paym<span class=\"_ _0\"></span>ents of princ<span class=\"_ _0\"></span>ipal and intere<span class=\"_ _0\"></span>st (\u2018<span class=\"_ _0\"></span>SPPI<span class=\"_ _0\"></span>\u2019) cri<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rion; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs11d\">\u2022 <span class=\"_ _19\"> </span>ad<span class=\"_ _0\"></span>d new disclo<span class=\"_ _0\"></span>sures for cer<span class=\"_ _0\"></span>tain ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s with contr<span class=\"_ _0\"></span>actual te<span class=\"_ _0\"></span>rms that c<span class=\"_ _0\"></span>an chang<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>uch as som<span class=\"_ _0\"></span>e financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts with feat<span class=\"_ _0\"></span>ures </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs11e\">linked to the ac<span class=\"_ _0\"></span>hievement of environ<span class=\"_ _0\"></span>ment, so<span class=\"_ _0\"></span>cial and g<span class=\"_ _0\"></span>overnanc<span class=\"_ _0\"></span>e target<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>); a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs11f\">\u2022 <span class=\"_ _19\"> </span>upd<span class=\"_ _0\"></span>ate the disclo<span class=\"_ _0\"></span>sures for equi<span class=\"_ _0\"></span>ty ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d at fair value th<span class=\"_ _0\"></span>rough other c<span class=\"_ _0\"></span>omprehe<span class=\"_ _0\"></span>nsive incom<span class=\"_ _0\"></span>e (\u2018F<span class=\"_ _0\"></span>V<span class=\"_ _2\"></span>O<span class=\"_ _0\"></span>CI\u2019<span class=\"_ _0\"></span>). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs120\">The Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect t<span class=\"_ _0\"></span>hese am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to have a material imp<span class=\"_ _0\"></span>act on it<span class=\"_ _0\"></span>s operatio<span class=\"_ _0\"></span>ns or cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs121\">Annual Impro<span class=\"_ _2\"></span>vements to IF<span class=\"_ _2\"></span>RS Accounting S<span class=\"_ _2\"></span>tandards \u2014 V<span class=\"_ _2\"></span>olume 11<span class=\"_ _2\"></span> (1 January 2026)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs122\">As par<span class=\"_ _0\"></span>t of the IAS<span class=\"_ _0\"></span>B\u2019s Annual Im<span class=\"_ _0\"></span>provements p<span class=\"_ _0\"></span>roces<span class=\"_ _0\"></span>s it has is<span class=\"_ _0\"></span>sued mino<span class=\"_ _0\"></span>r amendme<span class=\"_ _0\"></span>nts to addre<span class=\"_ _0\"></span>ss potential a<span class=\"_ _0\"></span>reas of confus<span class=\"_ _0\"></span>ion within the followin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs123\">st<span class=\"_ _0\"></span>andards: I<span class=\"_ _0\"></span>FRS 1 Firs<span class=\"_ _0\"></span>t-<span class=\"_ _2\"></span>tim<span class=\"_ _0\"></span>e Adoption of Intern<span class=\"_ _0\"></span>ational Fin<span class=\"_ _0\"></span>ancial Rep<span class=\"_ _0\"></span>ortin<span class=\"_ _0\"></span>g Standa<span class=\"_ _0\"></span>rds \u2013 hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing by a first-time a<span class=\"_ _0\"></span>dopter); IFRS 7 F<span class=\"_ _0\"></span>inancial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs124\">Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s: Discl<span class=\"_ _0\"></span>osures \u2013 gain o<span class=\"_ _0\"></span>r loss on de<span class=\"_ _0\"></span>recogn<span class=\"_ _0\"></span>ition and cla<span class=\"_ _0\"></span>rification<span class=\"_ _0\"></span>s within implem<span class=\"_ _0\"></span>entation g<span class=\"_ _0\"></span>uidance; I<span class=\"_ _0\"></span>FRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s \u2013 lesse<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs125\">dere<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f l<span class=\"_ _0\"></span>ease liabili<span class=\"_ _0\"></span>ties and tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ion price; I<span class=\"_ _0\"></span>FRS 10 Co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d Financi<span class=\"_ _0\"></span>al Stateme<span class=\"_ _0\"></span>nts \u2013 determin<span class=\"_ _0\"></span>ation of a \u2019d<span class=\"_ _0\"></span>e facto ag<span class=\"_ _0\"></span>ent\u2019; and IAS 7 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs126\">Statem<span class=\"_ _0\"></span>ent of Cash Flow<span class=\"_ _0\"></span>s \u2013 cost me<span class=\"_ _0\"></span>thod. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs127\">The Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect t<span class=\"_ _0\"></span>hese am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to have a material imp<span class=\"_ _0\"></span>act on it<span class=\"_ _0\"></span>s operatio<span class=\"_ _0\"></span>ns or cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs128\">IFRS 18 P<span class=\"_ _2\"></span>resentation and Disclosur<span class=\"_ _2\"></span>e in Financial S<span class=\"_ _2\"></span>tatements (1 J<span class=\"_ _2\"></span>anuar<span class=\"_ _0\"></span>y 20<span class=\"_ _2\"></span>27)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs129\">The n<span class=\"_ _0\"></span>ew stand<span class=\"_ _0\"></span>ard will replac<span class=\"_ _0\"></span>e IAS 1 Present<span class=\"_ _0\"></span>ation of financ<span class=\"_ _0\"></span>ial statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, introducin<span class=\"_ _0\"></span>g new requirem<span class=\"_ _0\"></span>ents tha<span class=\"_ _0\"></span>t will help to achieve c<span class=\"_ _0\"></span>omparabili<span class=\"_ _0\"></span>ty of<span class=\"_ gs47\"> </span>the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs12a\">finan<span class=\"_ _0\"></span>cial per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e of similar entitie<span class=\"_ _0\"></span>s and provide mo<span class=\"_ _0\"></span>re relevant informatio<span class=\"_ _0\"></span>n and trans<span class=\"_ _0\"></span>parency to u<span class=\"_ _0\"></span>sers<span class=\"_ _0\"></span>. Ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n though I<span class=\"_ _0\"></span>FRS 18 will not im<span class=\"_ _0\"></span>pact th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs12b\">rec<span class=\"_ _0\"></span>ognition or m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of items in the fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s, it<span class=\"_ _0\"></span>s impact<span class=\"_ _0\"></span>s on prese<span class=\"_ _0\"></span>ntation and dis<span class=\"_ _0\"></span>closure are ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d to be per<span class=\"_ _0\"></span>vasive, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs12c\">par<span class=\"_ _0\"></span>ticularl<span class=\"_ _0\"></span>y those rel<span class=\"_ _0\"></span>ated to the st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce and the ide<span class=\"_ _0\"></span>ntification a<span class=\"_ _0\"></span>nd disclo<span class=\"_ _0\"></span>sure of manag<span class=\"_ _0\"></span>ement-defin<span class=\"_ _0\"></span>ed per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs12d\">mea<span class=\"_ _0\"></span>sures within th<span class=\"_ _0\"></span>e financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment is curre<span class=\"_ _0\"></span>ntly asse<span class=\"_ _0\"></span>ssing th<span class=\"_ _0\"></span>e detaile<span class=\"_ _0\"></span>d implication<span class=\"_ _0\"></span>s of applying th<span class=\"_ _0\"></span>e new sta<span class=\"_ _0\"></span>ndard on the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs12e\">con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s. From the high<span class=\"_ _0\"></span>-level prelimin<span class=\"_ _0\"></span>ary as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d, the followin<span class=\"_ _0\"></span>g potential impa<span class=\"_ _0\"></span>cts have b<span class=\"_ _0\"></span>een identi<span class=\"_ _0\"></span>fied: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs12f\">\u2022 <span class=\"_ _19\"> </span>Alth<span class=\"_ _0\"></span>ough the a<span class=\"_ _0\"></span>doption of IFRS 1<span class=\"_ _0\"></span>8 will have no impa<span class=\"_ _0\"></span>ct on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s net p<span class=\"_ _0\"></span>rofit, the Gro<span class=\"_ _0\"></span>up expec<span class=\"_ _0\"></span>ts that gro<span class=\"_ _0\"></span>uping items of inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs130\">the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt int<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e new cate<span class=\"_ _0\"></span>gories will im<span class=\"_ _0\"></span>pact how o<span class=\"_ _0\"></span>perating p<span class=\"_ _0\"></span>rofit is calc<span class=\"_ _0\"></span>ulated and rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d. For example<span class=\"_ _0\"></span>, the Group </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs131\">is likely to spe<span class=\"_ _0\"></span>cify inves<span class=\"_ _0\"></span>ting ac<span class=\"_ _0\"></span>tivities as a m<span class=\"_ _0\"></span>ain busines<span class=\"_ _0\"></span>s activ<span class=\"_ _0\"></span>ity whic<span class=\"_ _0\"></span>h will result in inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>enses f<span class=\"_ _0\"></span>rom inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting ac<span class=\"_ _0\"></span>tivities b<span class=\"_ _0\"></span>eing group<span class=\"_ _0\"></span>ed </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs132\">within th<span class=\"_ _0\"></span>e operatin<span class=\"_ _0\"></span>g catego<span class=\"_ _0\"></span>ry of the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt, rathe<span class=\"_ _0\"></span>r than in the inves<span class=\"_ _0\"></span>ting cate<span class=\"_ _0\"></span>gor<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Furth<span class=\"_ _0\"></span>ermore, t<span class=\"_ _0\"></span>he line items in th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs133\">prima<span class=\"_ _0\"></span>ry finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements m<span class=\"_ _0\"></span>ight chang<span class=\"_ _0\"></span>e to achieve the o<span class=\"_ _0\"></span>bjec<span class=\"_ _0\"></span>tive of a \u2018<span class=\"_ _2\"></span>us<span class=\"_ _0\"></span>eful struc<span class=\"_ _0\"></span>tured s<span class=\"_ _0\"></span>ummar<span class=\"_ _0\"></span>y\u2019 as<span class=\"_ gs47\"> </span>define<span class=\"_ _0\"></span>d in IFRS 18<span class=\"_ _0\"></span>, and th<span class=\"_ _0\"></span>e Group may </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs134\">cho<span class=\"_ _0\"></span>ose to inclu<span class=\"_ _0\"></span>de addition<span class=\"_ _0\"></span>al sub-totals<span class=\"_ _0\"></span>, where p<span class=\"_ _0\"></span>ermit<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d, in order to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>de more unde<span class=\"_ _0\"></span>rstan<span class=\"_ _0\"></span>dable informati<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs135\">\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Alte<span class=\"_ _0\"></span>rnative Perfor<span class=\"_ _0\"></span>mance M<span class=\"_ _0\"></span>easure (<span class=\"_ _0\"></span>\u2018<span class=\"_ _4\"></span>APM<span class=\"_ _0\"></span>\u2019) of a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is cons<span class=\"_ _0\"></span>idered to me<span class=\"_ _0\"></span>et the definit<span class=\"_ _0\"></span>ion in IFRS 1<span class=\"_ _0\"></span>8 o<span class=\"_ _2\"></span>f a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs136\">man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt -defined p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance me<span class=\"_ _0\"></span>asure and wh<span class=\"_ _0\"></span>ilst the Gro<span class=\"_ _0\"></span>up currently provi<span class=\"_ _0\"></span>des subst<span class=\"_ _0\"></span>antial informati<span class=\"_ _0\"></span>on about ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs137\">inclu<span class=\"_ _0\"></span>ding a recon<span class=\"_ _0\"></span>ciliation to the m<span class=\"_ _0\"></span>ost direc<span class=\"_ _0\"></span>tly comp<span class=\"_ _0\"></span>arable total in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment, I<span class=\"_ _0\"></span>FRS 18 co<span class=\"_ _0\"></span>ntains more pre<span class=\"_ _0\"></span>scriptive </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs138\">discl<span class=\"_ _0\"></span>osure require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs139\">\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>ere will be t<span class=\"_ _0\"></span>wo new define<span class=\"_ _0\"></span>d sub-totals in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent; ope<span class=\"_ _0\"></span>rating profit an<span class=\"_ _0\"></span>d profit before fina<span class=\"_ _0\"></span>ncing and in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs13a\">\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Group does n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>t there to be a sig<span class=\"_ _0\"></span>nificant ch<span class=\"_ _0\"></span>ange in the inform<span class=\"_ _0\"></span>ation that is c<span class=\"_ _0\"></span>urrently disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e notes bec<span class=\"_ _0\"></span>ause th<span class=\"_ _0\"></span>e requireme<span class=\"_ _0\"></span>nt to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs13b\">discl<span class=\"_ _0\"></span>ose materia<span class=\"_ _0\"></span>l inf<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rmation rema<span class=\"_ _0\"></span>ins unchan<span class=\"_ _0\"></span>ged; howeve<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, the way in whic<span class=\"_ _0\"></span>h the information is g<span class=\"_ _0\"></span>rouped mi<span class=\"_ _0\"></span>ght chang<span class=\"_ _0\"></span>e as a result of the e<span class=\"_ _0\"></span>nhance<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs13c\">agg<span class=\"_ _0\"></span>regatio<span class=\"_ _0\"></span>n/<span class=\"_ _4\"></span>dis<span class=\"_ _0\"></span>aggre<span class=\"_ _0\"></span>gation prin<span class=\"_ _0\"></span>ciples<span class=\"_ _0\"></span>, part<span class=\"_ _0\"></span>icularly for ite<span class=\"_ _0\"></span>ms currently la<span class=\"_ _0\"></span>belled a<span class=\"_ _0\"></span>s \u2018<span class=\"_ _2\"></span>othe<span class=\"_ _0\"></span>r\u2019<span class=\"_ _4\"></span>. For th<span class=\"_ _0\"></span>e first an<span class=\"_ _0\"></span>nual perio<span class=\"_ _0\"></span>d of applicati<span class=\"_ _0\"></span>on of IFRS 18<span class=\"_ _0\"></span>, a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs13d\">rec<span class=\"_ _0\"></span>onciliation for e<span class=\"_ _0\"></span>ach line item in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e restate<span class=\"_ _0\"></span>d amounts p<span class=\"_ _0\"></span>resented by a<span class=\"_ _0\"></span>pplying I<span class=\"_ _0\"></span>FRS 18 and t<span class=\"_ _0\"></span>he </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs13e\">amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly prese<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d applyin<span class=\"_ _0\"></span>g IAS 1. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs13f\">\u2022 <span class=\"_ _19\"> </span>From a cas<span class=\"_ _0\"></span>h flow state<span class=\"_ _0\"></span>ment per<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive, the Gro<span class=\"_ _0\"></span>up is required to us<span class=\"_ _0\"></span>e the oper<span class=\"_ _0\"></span>ating profit sub<span class=\"_ _0\"></span>-t<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al as a sta<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>oint for the st<span class=\"_ _0\"></span>atement of ca<span class=\"_ _0\"></span>sh </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs140\">flows wh<span class=\"_ _0\"></span>en prese<span class=\"_ _0\"></span>nting opera<span class=\"_ _0\"></span>ting cash fl<span class=\"_ _0\"></span>ows under th<span class=\"_ _0\"></span>e indirect m<span class=\"_ _0\"></span>ethod.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs142\">The Gro<span class=\"_ _0\"></span>up will apply th<span class=\"_ _0\"></span>e new stan<span class=\"_ _0\"></span>dard from it<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>y effe<span class=\"_ _0\"></span>ctive date of 1 Janu<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>27<span class=\"_ _4\"></span>. Retro<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive applicati<span class=\"_ _0\"></span>on is required<span class=\"_ _0\"></span>, and so th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs143\">comp<span class=\"_ _0\"></span>arative informatio<span class=\"_ _0\"></span>n f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the financi<span class=\"_ _0\"></span>al year endin<span class=\"_ _0\"></span>g 31 Dece<span class=\"_ _0\"></span>mber 202<span class=\"_ _0\"></span>6 will be rest<span class=\"_ _0\"></span>ated in acc<span class=\"_ _0\"></span>ordanc<span class=\"_ _0\"></span>e with IFRS 1<span class=\"_ _0\"></span>8, inc<span class=\"_ _0\"></span>luding a rec<span class=\"_ _0\"></span>onciliation for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs144\">eac<span class=\"_ _0\"></span>h line item in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt betwe<span class=\"_ _0\"></span>en the res<span class=\"_ _0\"></span>tated am<span class=\"_ _0\"></span>ounts appl<span class=\"_ _0\"></span>ying IFRS 1<span class=\"_ _0\"></span>8 and the am<span class=\"_ _0\"></span>ounts previo<span class=\"_ _0\"></span>usly pres<span class=\"_ _0\"></span>ented </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs145\">appl<span class=\"_ _0\"></span>ying IAS 1.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs146\">Durin<span class=\"_ _0\"></span>g 2025 the Gro<span class=\"_ _0\"></span>up will carr<span class=\"_ _0\"></span>y out a det<span class=\"_ _0\"></span>ailed impa<span class=\"_ _0\"></span>ct ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent to identif<span class=\"_ _0\"></span>y the act<span class=\"_ _0\"></span>ions require<span class=\"_ _0\"></span>d and set mil<span class=\"_ _0\"></span>estone<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r implement<span class=\"_ _0\"></span>ation act<span class=\"_ _0\"></span>ivities.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs147\">IFRS 19 Subsidiar<span class=\"_ _2\"></span>ies without<span class=\"_ _2\"></span> Public Accountabil<span class=\"_ _2\"></span>it<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> (1 January 2027)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs148\">IFR<span class=\"_ _0\"></span>S 19 allows for c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain eligible sub<span class=\"_ _0\"></span>sidiaries of pare<span class=\"_ _0\"></span>nt entities th<span class=\"_ _0\"></span>at repor<span class=\"_ _0\"></span>t under IFR<span class=\"_ _0\"></span>S Accountin<span class=\"_ _0\"></span>g Standa<span class=\"_ _0\"></span>rds to apply re<span class=\"_ _0\"></span>duced dis<span class=\"_ _0\"></span>closure </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs149\">require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not exp<span class=\"_ _0\"></span>ect this s<span class=\"_ _0\"></span>tanda<span class=\"_ _0\"></span>rd to have an impac<span class=\"_ _0\"></span>t on its ope<span class=\"_ _0\"></span>rations or c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs14a\">Sa<span class=\"_ _0\"></span>le or Co<span class=\"_ _0\"></span>ntribut<span class=\"_ _0\"></span>ion of As<span class=\"_ _0\"></span>sets b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en an Inves<span class=\"_ _0\"></span>tor an<span class=\"_ _0\"></span>d its As<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ate or Joi<span class=\"_ _0\"></span>nt V<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>nture (A<span class=\"_ _0\"></span>mend<span class=\"_ _0\"></span>ments t<span class=\"_ _0\"></span>o IFRS 10 a<span class=\"_ _0\"></span>nd IAS 28<span class=\"_ _0\"></span>)  </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs14b\">(Ef<span class=\"_ _0\"></span>fecti<span class=\"_ _0\"></span>ve date defe<span class=\"_ _0\"></span>rred)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs14c\">The am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s addres<span class=\"_ _0\"></span>s the conflic<span class=\"_ _0\"></span>t bet<span class=\"_ _0\"></span>ween IFR<span class=\"_ _0\"></span>S 10 and IAS 2<span class=\"_ _0\"></span>8 in dealing with t<span class=\"_ _0\"></span>he loss of cont<span class=\"_ _0\"></span>rol of a subsidiar<span class=\"_ _0\"></span>y that is s<span class=\"_ _0\"></span>old or contrib<span class=\"_ _0\"></span>uted to<span class=\"_ gs47\"> </span>an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs14d\">as<span class=\"_ _0\"></span>sociate or j<span class=\"_ _0\"></span>oint venture. The<span class=\"_ _0\"></span>se amen<span class=\"_ _0\"></span>dments are n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>ted to have any impac<span class=\"_ _0\"></span>t on the Group.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs14e\">The follow<span class=\"_ _0\"></span>ing amendm<span class=\"_ _0\"></span>ents to st<span class=\"_ _0\"></span>andards lis<span class=\"_ _0\"></span>ted above h<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ve b<span class=\"_ _0\"></span>een end<span class=\"_ _0\"></span>orsed fo<span class=\"_ _0\"></span>r use in the UK by th<span class=\"_ _0\"></span>e UK Endor<span class=\"_ _0\"></span>sement B<span class=\"_ _0\"></span>oard:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs14f\">\u2022 <span class=\"_ _19\"> </span>La<span class=\"_ _0\"></span>ck of Excha<span class=\"_ _0\"></span>ngeabili<span class=\"_ _0\"></span>ty (Am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to IAS 21 The Ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of Change<span class=\"_ _0\"></span>s in Foreign E<span class=\"_ _0\"></span>xchang<span class=\"_ _0\"></span>e Rates); and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs150\">\u2022 <span class=\"_ _19\"> </span>Ann<span class=\"_ _0\"></span>ual Improveme<span class=\"_ _0\"></span>nts to IFRS Ac<span class=\"_ _0\"></span>counting St<span class=\"_ _0\"></span>andards \u2014 Volume 11<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs152\">The Gro<span class=\"_ _0\"></span>up defines an<span class=\"_ _0\"></span>d present<span class=\"_ _0\"></span>s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with IFRS 8 </div><div class=\"t m13d h17d ff2 fseb fc3 sc0 ls1 ws1 gs153\">Ope<span class=\"_ _0\"></span>rating S<span class=\"_ _0\"></span>egment<span class=\"_ _0\"></span>s</div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs154\"> which re<span class=\"_ _0\"></span>quires such s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts to be bas<span class=\"_ _0\"></span>ed </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs155\">on the<span class=\"_ gs47\"> </span>inform<span class=\"_ _0\"></span>ation which is provi<span class=\"_ _0\"></span>ded to the Bo<span class=\"_ _0\"></span>ard, and th<span class=\"_ _0\"></span>erefore segm<span class=\"_ _0\"></span>ental informa<span class=\"_ _0\"></span>tion in this note is pre<span class=\"_ _0\"></span>sented on a dif<span class=\"_ _0\"></span>ferent bas<span class=\"_ _0\"></span>is from profit or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs156\">los<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs157\">An ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment is a c<span class=\"_ _0\"></span>omponent of th<span class=\"_ _0\"></span>e Group that en<span class=\"_ _0\"></span>gage<span class=\"_ _0\"></span>s in busines<span class=\"_ _0\"></span>s activ<span class=\"_ _0\"></span>ities from whic<span class=\"_ _0\"></span>h it may earn reven<span class=\"_ _0\"></span>ues and inc<span class=\"_ _0\"></span>ur expens<span class=\"_ _0\"></span>es, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs158\">inclu<span class=\"_ _0\"></span>ding revenues a<span class=\"_ _0\"></span>nd expen<span class=\"_ _0\"></span>ses relatin<span class=\"_ _0\"></span>g to transa<span class=\"_ _0\"></span>ctions wit<span class=\"_ _0\"></span>h other comp<span class=\"_ _0\"></span>onents of th<span class=\"_ _0\"></span>e Group. For man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt purpos<span class=\"_ _0\"></span>es the Group is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs159\">organ<span class=\"_ _0\"></span>ised into value c<span class=\"_ _0\"></span>entres and h<span class=\"_ _0\"></span>as five oper<span class=\"_ _0\"></span>ating seg<span class=\"_ _0\"></span>ments c<span class=\"_ _0\"></span>omprising Re<span class=\"_ _0\"></span>tirement So<span class=\"_ _0\"></span>lutions<span class=\"_ _0\"></span>, Pensions &amp; S<span class=\"_ _0\"></span>avings<span class=\"_ _0\"></span>, With-Profit<span class=\"_ _0\"></span>s, S<span class=\"_ _0\"></span>unLife &amp; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs15a\">Protec<span class=\"_ _0\"></span>tion, and Euro<span class=\"_ _0\"></span>pe &amp; Othe<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. For re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting purpos<span class=\"_ _0\"></span>es, o<span class=\"_ _0\"></span>perating s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts are agg<span class=\"_ _0\"></span>regate<span class=\"_ _0\"></span>d where they sh<span class=\"_ _0\"></span>are similar e<span class=\"_ _0\"></span>conomic ch<span class=\"_ _0\"></span>aracte<span class=\"_ _0\"></span>ristic<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs15b\">inclu<span class=\"_ _0\"></span>ding the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s and ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>, t<span class=\"_ _0\"></span>ypes of cus<span class=\"_ _0\"></span>tomers an<span class=\"_ _0\"></span>d the nature of th<span class=\"_ _0\"></span>e regulator<span class=\"_ _0\"></span>y environm<span class=\"_ _0\"></span>ent. The S<span class=\"_ _0\"></span>unLife &amp; Protecti<span class=\"_ _0\"></span>on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs15c\">ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment ha<span class=\"_ _0\"></span>s been ag<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ated with the Europ<span class=\"_ _0\"></span>e operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ent into the Europe &amp; O<span class=\"_ _0\"></span>ther rep<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>ble segm<span class=\"_ _0\"></span>ent. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs15d\">The Ret<span class=\"_ _0\"></span>irement So<span class=\"_ _0\"></span>lutions se<span class=\"_ _0\"></span>gment inc<span class=\"_ _0\"></span>ludes new a<span class=\"_ _0\"></span>nd in-force individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y and Bulk P<span class=\"_ _0\"></span>urchase An<span class=\"_ _0\"></span>nuity c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts writ<span class=\"_ _0\"></span>ten within share<span class=\"_ _0\"></span>holder </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs15e\">fund<span class=\"_ _0\"></span>s, with the e<span class=\"_ _0\"></span>xception of individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y contra<span class=\"_ _0\"></span>cts wri<span class=\"_ _0\"></span>tten as a re<span class=\"_ _0\"></span>sult of Guara<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ed Annui<span class=\"_ _0\"></span>ty Optio<span class=\"_ _0\"></span>ns on with-profit c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts. S<span class=\"_ _0\"></span>uch contra<span class=\"_ _0\"></span>cts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs15f\">remain in t<span class=\"_ _0\"></span>he With-Profit<span class=\"_ _0\"></span>s seg<span class=\"_ _0\"></span>ment following th<span class=\"_ _0\"></span>e transitio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>, as they f<span class=\"_ _0\"></span>all within the cont<span class=\"_ _0\"></span>ract bo<span class=\"_ _0\"></span>undar<span class=\"_ _0\"></span>y of the origin<span class=\"_ _0\"></span>al savings or p<span class=\"_ _0\"></span>ension </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs160\">contr<span class=\"_ _0\"></span>act.<span class=\"_ gs47\"> </span>T<span class=\"_ _0\"></span>he Retirement S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s segme<span class=\"_ _0\"></span>nt also incl<span class=\"_ _0\"></span>udes UK in<span class=\"_ _0\"></span>dividual ann<span class=\"_ _0\"></span>uity bu<span class=\"_ _0\"></span>siness wr<span class=\"_ _0\"></span>itten wit<span class=\"_ _0\"></span>hin the Stand<span class=\"_ _0\"></span>ard Life Herita<span class=\"_ _0\"></span>ge With-<span class=\"_ _0\"></span>Profits </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs161\">Fund as the p<span class=\"_ _0\"></span>rofits are prim<span class=\"_ _0\"></span>arily attr<span class=\"_ _0\"></span>ibutable to th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder throu<span class=\"_ _0\"></span>gh the Rec<span class=\"_ _0\"></span>ourse Ca<span class=\"_ _0\"></span>sh Flow mec<span class=\"_ _0\"></span>hanism es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed on dem<span class=\"_ _0\"></span>utualisat<span class=\"_ _0\"></span>ion. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs162\">The Pens<span class=\"_ _0\"></span>ions &amp; Savin<span class=\"_ _0\"></span>gs segm<span class=\"_ _0\"></span>ent includ<span class=\"_ _0\"></span>es new and in-forc<span class=\"_ _0\"></span>e life insuranc<span class=\"_ _0\"></span>e and investm<span class=\"_ _0\"></span>ent unit-linked policie<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of pensi<span class=\"_ _0\"></span>ons and savin<span class=\"_ _0\"></span>gs </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs163\">produ<span class=\"_ _0\"></span>cts tha<span class=\"_ _0\"></span>t the Group co<span class=\"_ _0\"></span>ntinues to ac<span class=\"_ _0\"></span>tively market to new an<span class=\"_ _0\"></span>d existing p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders<span class=\"_ _0\"></span>.<span class=\"_ gs47\"> </span> This includ<span class=\"_ _0\"></span>es produc<span class=\"_ _0\"></span>ts such a<span class=\"_ _0\"></span>s workplac<span class=\"_ _0\"></span>e pension<span class=\"_ _0\"></span>s and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs164\">Se<span class=\"_ _0\"></span>lf<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>Invested Per<span class=\"_ _0\"></span>sonal Pens<span class=\"_ _0\"></span>ion (\u2018<span class=\"_ _0\"></span>SIPPs\u2019<span class=\"_ _0\"></span>) distribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d through th<span class=\"_ _0\"></span>e Group\u2019s strateg<span class=\"_ _0\"></span>ic part<span class=\"_ _0\"></span>nership wi<span class=\"_ _0\"></span>th Aberde<span class=\"_ _0\"></span>en Group plc (forme<span class=\"_ _0\"></span>rly abrdn plc) now </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs165\">tradin<span class=\"_ _0\"></span>g as Aberd<span class=\"_ _0\"></span>een.<span class=\"_ gs47\"> </span>In a<span class=\"_ _0\"></span>ddition, i<span class=\"_ _0\"></span>t includes in<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>forc<span class=\"_ _0\"></span>e insuran<span class=\"_ _0\"></span>ce and invest<span class=\"_ _0\"></span>ment unit-linked produ<span class=\"_ _0\"></span>cts from le<span class=\"_ _0\"></span>gac<span class=\"_ _0\"></span>y busines<span class=\"_ _0\"></span>ses whic<span class=\"_ _0\"></span>h no longe<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs166\">ac<span class=\"_ _0\"></span>tively sell pro<span class=\"_ _0\"></span>duct<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and w<span class=\"_ _0\"></span>hich therefore r<span class=\"_ _0\"></span>un-off gr<span class=\"_ _0\"></span>adually over tim<span class=\"_ _0\"></span>e. The Pension<span class=\"_ _0\"></span>s &amp; Savings s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt also inclu<span class=\"_ _0\"></span>des UK uniti<span class=\"_ _0\"></span>sed </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs167\">busin<span class=\"_ _0\"></span>ess writ<span class=\"_ _0\"></span>ten in<span class=\"_ gs47\"> </span>the St<span class=\"_ _0\"></span>andard Life He<span class=\"_ _0\"></span>ritage W<span class=\"_ _0\"></span>ith-Profits f<span class=\"_ _0\"></span>unds<span class=\"_ _0\"></span>, as profits are pr<span class=\"_ _0\"></span>imarily at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to the share<span class=\"_ _0\"></span>holder thro<span class=\"_ _0\"></span>ugh the Re<span class=\"_ _0\"></span>course </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs168\">Cas<span class=\"_ _0\"></span>h Flow mech<span class=\"_ _0\"></span>anism.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs169\">The Wi<span class=\"_ _0\"></span>th-Profits s<span class=\"_ _0\"></span>egment in<span class=\"_ _0\"></span>cludes a<span class=\"_ _0\"></span>ll policies wri<span class=\"_ _0\"></span>tten by the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds, with th<span class=\"_ _0\"></span>e exception of Sta<span class=\"_ _0\"></span>ndard Life Heri<span class=\"_ _0\"></span>tage Wit<span class=\"_ _0\"></span>h-Profits </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs16a\">Fund contr<span class=\"_ _0\"></span>acts refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in other seg<span class=\"_ _0\"></span>ments a<span class=\"_ _0\"></span>s noted above for Retire<span class=\"_ _0\"></span>ment Sol<span class=\"_ _0\"></span>utions and Pen<span class=\"_ _0\"></span>sions &amp; Savin<span class=\"_ _0\"></span>gs where profit<span class=\"_ _0\"></span>s are primar<span class=\"_ _0\"></span>ily </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs16b\">at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the shareh<span class=\"_ _0\"></span>older thro<span class=\"_ _0\"></span>ugh the Rec<span class=\"_ _0\"></span>ourse C<span class=\"_ _0\"></span>ash Flow me<span class=\"_ _0\"></span>chanism<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs16c\">The Europ<span class=\"_ _0\"></span>e &amp; Other s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt includes b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s writte<span class=\"_ _0\"></span>n in Ireland an<span class=\"_ _0\"></span>d Germany. This inc<span class=\"_ _0\"></span>ludes prod<span class=\"_ _0\"></span>ucts th<span class=\"_ _0\"></span>at are activel<span class=\"_ _0\"></span>y being ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>ete<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o n<span class=\"_ _0\"></span>ew </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs16d\">polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s and leg<span class=\"_ _0\"></span>acy in-force p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s that are no lon<span class=\"_ _0\"></span>ger be<span class=\"_ _0\"></span>ing sold to new c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs.<span class=\"_ gs47\"> </span> Th<span class=\"_ _0\"></span>e segm<span class=\"_ _0\"></span>ent also inc<span class=\"_ _0\"></span>ludes protec<span class=\"_ _0\"></span>tion produ<span class=\"_ _0\"></span>cts an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs16e\">produ<span class=\"_ _0\"></span>cts so<span class=\"_ _0\"></span>ld under the S<span class=\"_ _0\"></span>unLife bran<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs16f\">The C<span class=\"_ _0\"></span>orporate C<span class=\"_ _0\"></span>entre seg<span class=\"_ _0\"></span>ment, whi<span class=\"_ _0\"></span>ch is not a repor<span class=\"_ _0\"></span>tab<span class=\"_ _0\"></span>le segm<span class=\"_ _0\"></span>ent, princ<span class=\"_ _0\"></span>ipally comp<span class=\"_ _0\"></span>rises ce<span class=\"_ _0\"></span>ntral hea<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>fice co<span class=\"_ _0\"></span>sts tha<span class=\"_ _0\"></span>t are not direct<span class=\"_ _0\"></span>ly </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs170\">at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the Group\u2019s insuran<span class=\"_ _0\"></span>ce or investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>ts.<span class=\"_ gs47\"> </span>M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s are alloc<span class=\"_ _0\"></span>ated to the four rep<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>able seg<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs171\">Inter-s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt transa<span class=\"_ _0\"></span>ctions are s<span class=\"_ _0\"></span>et on an arm\u2019s length b<span class=\"_ _0\"></span>asis in a manne<span class=\"_ _0\"></span>r similar to tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns with third par<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>. Seg<span class=\"_ _0\"></span>mental re<span class=\"_ _0\"></span>sults incl<span class=\"_ _0\"></span>ude those </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs172\">tran<span class=\"_ _0\"></span>sfers bet<span class=\"_ _0\"></span>ween b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s segm<span class=\"_ _0\"></span>ents which a<span class=\"_ _0\"></span>re then elimina<span class=\"_ _0\"></span>ted on cons<span class=\"_ _0\"></span>olidation<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs173\">Segmental measu<span class=\"_ _2\"></span>re of perfo<span class=\"_ _2\"></span>rmance: Adjusted<span class=\"_ _2\"></span> operating pr<span class=\"_ _2\"></span>ofit<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs174\">The Gro<span class=\"_ _0\"></span>up uses a no<span class=\"_ _0\"></span>n-GAA<span class=\"_ _0\"></span>P measure of pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce, be<span class=\"_ _0\"></span>ing adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit<span class=\"_ _0\"></span>, to evaluate se<span class=\"_ _0\"></span>gmenta<span class=\"_ _0\"></span>l perfor<span class=\"_ _0\"></span>mance. A<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs175\">profit is c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to provide a comp<span class=\"_ _0\"></span>arable me<span class=\"_ _0\"></span>asure of the unde<span class=\"_ _0\"></span>rlying pe<span class=\"_ _0\"></span>rforman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>act of<span class=\"_ gs47\"> </span>sho<span class=\"_ _0\"></span>rt-term </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs176\">ec<span class=\"_ _0\"></span>onomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other item<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs177\">The follow<span class=\"_ _0\"></span>ing sets o<span class=\"_ _0\"></span>ut the adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating profi<span class=\"_ _0\"></span>t methodo<span class=\"_ _0\"></span>logy<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs178\">For unit-linked bus<span class=\"_ _0\"></span>iness ac<span class=\"_ _0\"></span>counted for un<span class=\"_ _0\"></span>der IFRS 9<span class=\"_ _0\"></span>, adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the fe<span class=\"_ _0\"></span>es colle<span class=\"_ _0\"></span>cted from c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs less o<span class=\"_ _0\"></span>perating </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs179\">expe<span class=\"_ _0\"></span>nses inc<span class=\"_ _0\"></span>luding overhe<span class=\"_ _0\"></span>ads. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs17a\">For unit-linked and wi<span class=\"_ _0\"></span>th-profits b<span class=\"_ _0\"></span>usiness a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for under IFR<span class=\"_ _0\"></span>S 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit inclu<span class=\"_ _0\"></span>des the rele<span class=\"_ _0\"></span>ase of the risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs17b\">amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion of CSM<span class=\"_ _0\"></span>, and dem<span class=\"_ _0\"></span>ographi<span class=\"_ _0\"></span>c experien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es in the pe<span class=\"_ _0\"></span>riod.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs17d\">For share<span class=\"_ _0\"></span>holder a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, other n<span class=\"_ _0\"></span>on-profit busin<span class=\"_ _0\"></span>ess an<span class=\"_ _0\"></span>d with-profits f<span class=\"_ _0\"></span>unds rec<span class=\"_ _0\"></span>eiving share<span class=\"_ _0\"></span>holder s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t acco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs17e\">ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the re<span class=\"_ _0\"></span>lease of the r<span class=\"_ _0\"></span>isk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>, amor<span class=\"_ _0\"></span>tisation of CS<span class=\"_ _0\"></span>M, an<span class=\"_ _0\"></span>d demog<span class=\"_ _0\"></span>raphic exp<span class=\"_ _0\"></span>erience v<span class=\"_ _0\"></span>ariance<span class=\"_ _0\"></span>s in the perio<span class=\"_ _0\"></span>d. Adjus<span class=\"_ _0\"></span>ted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs17f\">ope<span class=\"_ _0\"></span>rating profit als<span class=\"_ _0\"></span>o incorp<span class=\"_ _0\"></span>orates an exp<span class=\"_ _0\"></span>ected re<span class=\"_ _0\"></span>turn on the fina<span class=\"_ _0\"></span>ncial invest<span class=\"_ _0\"></span>ments ba<span class=\"_ _0\"></span>cking this bu<span class=\"_ _0\"></span>siness a<span class=\"_ _0\"></span>nd any surplus a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, with allow<span class=\"_ _0\"></span>ance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs180\">for the c<span class=\"_ _0\"></span>orrespon<span class=\"_ _0\"></span>ding moveme<span class=\"_ _0\"></span>nt i<span class=\"_ _2\"></span>n li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs181\">Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the ab<span class=\"_ _0\"></span>ove items for non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss writ<span class=\"_ _0\"></span>ten in a with-profit<span class=\"_ _0\"></span>s fund whe<span class=\"_ _0\"></span>re these am<span class=\"_ _0\"></span>ounts do not a<span class=\"_ _0\"></span>ccrue </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs182\">direc<span class=\"_ _0\"></span>tly to the share<span class=\"_ _0\"></span>holder. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs183\">Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit in<span class=\"_ _0\"></span>cludes th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f ex<span class=\"_ _0\"></span>perien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es relating to th<span class=\"_ _0\"></span>e current pe<span class=\"_ _0\"></span>riod for non-<span class=\"_ _0\"></span>econo<span class=\"_ _0\"></span>mic items<span class=\"_ _0\"></span>, such as mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs184\">and exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s. It als<span class=\"_ _0\"></span>o incorpor<span class=\"_ _0\"></span>ates the impa<span class=\"_ _0\"></span>cts of as<span class=\"_ _0\"></span>set tradin<span class=\"_ _0\"></span>g and por<span class=\"_ _0\"></span>tfolio re<span class=\"_ _0\"></span>balanc<span class=\"_ _0\"></span>ing where not refl<span class=\"_ _0\"></span>ected in t<span class=\"_ _0\"></span>he discount r<span class=\"_ _0\"></span>ate used in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs185\">cal<span class=\"_ _0\"></span>culating exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d return.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs186\">Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit is re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted net of polic<span class=\"_ _0\"></span>yholder fin<span class=\"_ _0\"></span>ance ch<span class=\"_ _0\"></span>arges and p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder tax<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs187\">Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>acts of th<span class=\"_ _0\"></span>e following items<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs188\">Economic var<span class=\"_ _2\"></span>iances </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs189\">\u2022 <span class=\"_ _19\"> </span>the dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>en act<span class=\"_ _0\"></span>ual and exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d experien<span class=\"_ _0\"></span>ce for eco<span class=\"_ _0\"></span>nomic items re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt, impac<span class=\"_ _0\"></span>ts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs18a\">of<span class=\"_ gs47\"> </span>eco<span class=\"_ _0\"></span>nomic as<span class=\"_ _0\"></span>sumptions on th<span class=\"_ _0\"></span>e valuation of liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured under t<span class=\"_ _0\"></span>he Gener<span class=\"_ _0\"></span>al Mode<span class=\"_ _0\"></span>l and the ch<span class=\"_ _0\"></span>ange in value of lo<span class=\"_ _0\"></span>ss comp<span class=\"_ _0\"></span>onents </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs18b\">on<span class=\"_ gs47\"> </span>V<span class=\"_ _2\"></span>ari<span class=\"_ _0\"></span>able Fee Appro<span class=\"_ _0\"></span>ach busin<span class=\"_ _0\"></span>ess res<span class=\"_ _0\"></span>ulting from market movem<span class=\"_ _0\"></span>ents on und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs18c\">\u2022 <span class=\"_ _19\"> </span>ec<span class=\"_ _0\"></span>onomic vola<span class=\"_ _0\"></span>tility ari<span class=\"_ _0\"></span>sing from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s he<span class=\"_ _0\"></span>dging str<span class=\"_ _0\"></span>ategy whi<span class=\"_ _0\"></span>ch is calibra<span class=\"_ _0\"></span>ted to protect th<span class=\"_ _0\"></span>e Solven<span class=\"_ _0\"></span>cy II ca<span class=\"_ _0\"></span>pital posi<span class=\"_ _0\"></span>tion and ca<span class=\"_ _0\"></span>sh </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs18d\">gen<span class=\"_ _0\"></span>eration c<span class=\"_ _0\"></span>apabilit<span class=\"_ _0\"></span>y of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls6d ws202 gs18e\">\u2022 <span class=\"_ _19\"> </span><span class=\"ws1\">th<span class=\"_ _0\"></span>e acco<span class=\"_ _0\"></span>unting mismatc<span class=\"_ _0\"></span>h resulting from th<span class=\"_ _0\"></span>e applica<span class=\"_ _0\"></span>tion of IFRS 17 bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement of non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss in a with-profit<span class=\"_ _0\"></span>s fund (noted<span class=\"_ _0\"></span> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls6d ws1 gs18f\">above) and th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in fair value of this bu<span class=\"_ _0\"></span>siness in<span class=\"_ _0\"></span>cluded w<span class=\"_ _0\"></span>ithin the mea<span class=\"_ _0\"></span>surement of the w<span class=\"_ _0\"></span>ith-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s under th<span class=\"_ _0\"></span>e V<span class=\"_ _4\"></span>ari<span class=\"_ _0\"></span>able </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls6d ws1 gs190\">Fee App<span class=\"_ _0\"></span>roach;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs191\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g mismatch re<span class=\"_ _0\"></span>sulting from bu<span class=\"_ _0\"></span>y-in contra<span class=\"_ _0\"></span>cts bet<span class=\"_ _0\"></span>wee<span class=\"_ _0\"></span>n the Group\u2019s pension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s and Phoe<span class=\"_ _0\"></span>nix Life Limited, th<span class=\"_ _0\"></span>e Group\u2019s main </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs192\">insur<span class=\"_ _0\"></span>ance subs<span class=\"_ _0\"></span>idiary. The mis<span class=\"_ _0\"></span>match repre<span class=\"_ _0\"></span>sents the d<span class=\"_ _0\"></span>ifferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>ween the unwin<span class=\"_ _0\"></span>d of the IAS 19 dis<span class=\"_ _0\"></span>count rate c<span class=\"_ _0\"></span>alculated w<span class=\"_ _0\"></span>ith reference to a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs193\">A<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>-ra<span class=\"_ _0\"></span>ted corpo<span class=\"_ _0\"></span>rate bond an<span class=\"_ _0\"></span>d the expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s on the back<span class=\"_ _0\"></span>ing ass<span class=\"_ _0\"></span>ets; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs194\">\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of th<span class=\"_ _0\"></span>e mismatch b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n chang<span class=\"_ _0\"></span>es in estim<span class=\"_ _0\"></span>ates of future c<span class=\"_ _0\"></span>ash flows on G<span class=\"_ _0\"></span>eneral M<span class=\"_ _0\"></span>odel co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d at current dis<span class=\"_ _0\"></span>count rates </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs195\">and th<span class=\"_ _0\"></span>e corresp<span class=\"_ _0\"></span>onding ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt to the CSM m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at the disco<span class=\"_ _0\"></span>unt rate locked-in at in<span class=\"_ _0\"></span>ception<span class=\"_ _0\"></span>. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs196\">Other<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs197\">\u2022 <span class=\"_ _19\"> </span>am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and impa<span class=\"_ _0\"></span>irment of A<span class=\"_ _2\"></span>VIF an<span class=\"_ _0\"></span>d brand inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets (net of po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er tax)<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs198\">\u2022 <span class=\"_ _19\"> </span>fina<span class=\"_ _0\"></span>nce cos<span class=\"_ _0\"></span>ts at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to owners;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs199\">\u2022 <span class=\"_ _19\"> </span>ga<span class=\"_ _0\"></span>ins or loss<span class=\"_ _0\"></span>es on the ac<span class=\"_ _0\"></span>quisition or dis<span class=\"_ _0\"></span>posal of sub<span class=\"_ _0\"></span>sidiaries (net of rel<span class=\"_ _0\"></span>ated cos<span class=\"_ _0\"></span>ts);<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs19a\">\u2022 <span class=\"_ _19\"> </span>the fin<span class=\"_ _0\"></span>ancial imp<span class=\"_ _0\"></span>acts of m<span class=\"_ _0\"></span>andator<span class=\"_ _0\"></span>y regulato<span class=\"_ _0\"></span>ry ch<span class=\"_ _0\"></span>ange;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs19b\">\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>rofit or loss at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs19c\">\u2022 <span class=\"_ _19\"> </span>integ<span class=\"_ _0\"></span>ration, re<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>turing or othe<span class=\"_ _0\"></span>r significa<span class=\"_ _0\"></span>nt one-of<span class=\"_ _0\"></span>f proje<span class=\"_ _0\"></span>cts imp<span class=\"_ _0\"></span>acting th<span class=\"_ _0\"></span>e income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs19d\">\u2022 <span class=\"_ _19\"> </span>any othe<span class=\"_ _0\"></span>r items which<span class=\"_ _0\"></span>, in the Direc<span class=\"_ _0\"></span>tor\u2019s view, should be di<span class=\"_ _0\"></span>sclose<span class=\"_ _0\"></span>d separ<span class=\"_ _0\"></span>ately by virt<span class=\"_ _0\"></span>ue of their nat<span class=\"_ _0\"></span>ure or inciden<span class=\"_ _0\"></span>ce to enable a f<span class=\"_ _0\"></span>ull </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs19e\">under<span class=\"_ _0\"></span>stan<span class=\"_ _0\"></span>ding of the Group\u2019s financ<span class=\"_ _0\"></span>ial per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. This is t<span class=\"_ _0\"></span>ypically th<span class=\"_ _0\"></span>e case wh<span class=\"_ _0\"></span>ere the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e item is not refle<span class=\"_ _0\"></span>ctive of the unde<span class=\"_ _0\"></span>rlying </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs19f\">per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lscd ws1 gs1a0\">The ite<span class=\"_ _0\"></span>ms exclude<span class=\"_ _0\"></span>d from adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit are refer<span class=\"_ _0\"></span>red to as \u2018non-op<span class=\"_ _0\"></span>erating ite<span class=\"_ _0\"></span>ms\u2019<span class=\"_ _4\"></span>. Whil<span class=\"_ _0\"></span>st the exclu<span class=\"_ _0\"></span>ded items are im<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ant to an ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lscd ws1 gs1a1\">of the con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance of the Gro<span class=\"_ _0\"></span>up, manag<span class=\"_ _0\"></span>ement co<span class=\"_ _0\"></span>nsider<span class=\"_ _0\"></span>s that the pres<span class=\"_ _0\"></span>entation of ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit provides a g<span class=\"_ _0\"></span>ood </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lscd ws1 gs1a2\">indic<span class=\"_ _0\"></span>ator of the underl<span class=\"_ _0\"></span>ying per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e of the Group\u2019s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents and th<span class=\"_ _0\"></span>e Group use<span class=\"_ _0\"></span>s this, as p<span class=\"_ _0\"></span>art of a suite of me<span class=\"_ _0\"></span>asures<span class=\"_ _0\"></span>, for decis<span class=\"_ _0\"></span>ion-<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lscd ws1 gs1a3\">makin<span class=\"_ _0\"></span>g and monitor<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. The Group\u2019s adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit s<span class=\"_ _0\"></span>hould be re<span class=\"_ _0\"></span>ad in conj<span class=\"_ _0\"></span>unction wi<span class=\"_ _0\"></span>th the IFRS profi<span class=\"_ _0\"></span>t before tax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d4\">The lo<span class=\"_ _0\"></span>ng-term nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f m<span class=\"_ _0\"></span>uch of the Group\u2019s oper<span class=\"_ _0\"></span>ations mea<span class=\"_ _0\"></span>ns that, for inte<span class=\"_ _0\"></span>rnal per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce manag<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>cts of sho<span class=\"_ _0\"></span>rt-term ec<span class=\"_ _0\"></span>onomic </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d5\">volatilit<span class=\"_ _0\"></span>y are treate<span class=\"_ _0\"></span>d as non-o<span class=\"_ _0\"></span>peratin<span class=\"_ _0\"></span>g items. Th<span class=\"_ _0\"></span>e Group focu<span class=\"_ _0\"></span>ses inste<span class=\"_ _0\"></span>ad on an ad<span class=\"_ _0\"></span>justed o<span class=\"_ _0\"></span>perating p<span class=\"_ _0\"></span>rofit meas<span class=\"_ _0\"></span>ure that incorp<span class=\"_ _0\"></span>orates an exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d6\">return on inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ting its l<span class=\"_ _0\"></span>ong-term b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>. The ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy adopte<span class=\"_ _0\"></span>d in the cal<span class=\"_ _0\"></span>culation of adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t is detaile<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d7\">in note B1<span class=\"_ _0\"></span>. The metho<span class=\"_ _0\"></span>dolog<span class=\"_ _0\"></span>y for the determin<span class=\"_ _0\"></span>ation of the expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment retur<span class=\"_ _0\"></span>n is explaine<span class=\"_ _0\"></span>d below tog<span class=\"_ _0\"></span>ether with an a<span class=\"_ _0\"></span>nalysis of inves<span class=\"_ _0\"></span>tment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d8\">return var<span class=\"_ _0\"></span>iances a<span class=\"_ _0\"></span>nd econ<span class=\"_ _0\"></span>omic ass<span class=\"_ _0\"></span>umption chan<span class=\"_ _0\"></span>ges rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d outsi<span class=\"_ _0\"></span>de of adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating profit.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ef\">The Gro<span class=\"_ _0\"></span>up calcul<span class=\"_ _0\"></span>ates its ba<span class=\"_ _0\"></span>sic earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re based o<span class=\"_ _0\"></span>n the prese<span class=\"_ _0\"></span>nt shares in is<span class=\"_ _0\"></span>sue using th<span class=\"_ _0\"></span>e earning<span class=\"_ _0\"></span>s attrib<span class=\"_ _0\"></span>utable to ordin<span class=\"_ _0\"></span>ary e<span class=\"_ _0\"></span>quity h<span class=\"_ _0\"></span>olders </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1f0\">of the pare<span class=\"_ _0\"></span>nt, divide<span class=\"_ _0\"></span>d by the weighted aver<span class=\"_ _0\"></span>age numb<span class=\"_ _0\"></span>er of ordinar<span class=\"_ _0\"></span>y shares in i<span class=\"_ _0\"></span>ssue durin<span class=\"_ _0\"></span>g the year<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1f1\">Dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per share a<span class=\"_ _0\"></span>re calcula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d base<span class=\"_ _0\"></span>d on the potenti<span class=\"_ _0\"></span>al future sha<span class=\"_ _0\"></span>res in issue a<span class=\"_ _0\"></span>ssumin<span class=\"_ _0\"></span>g the conversi<span class=\"_ _0\"></span>on of all potentially dilu<span class=\"_ _0\"></span>tive ordinar<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1f2\">share<span class=\"_ _0\"></span>s. The we<span class=\"_ _0\"></span>ighted averag<span class=\"_ _0\"></span>e number of ordin<span class=\"_ _0\"></span>ary s<span class=\"_ _0\"></span>hares in iss<span class=\"_ _0\"></span>ue is adju<span class=\"_ _0\"></span>sted to as<span class=\"_ _0\"></span>sume conver<span class=\"_ _0\"></span>sion of dilutive sha<span class=\"_ _0\"></span>re awards grante<span class=\"_ _0\"></span>d to employee<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1f3\">The b<span class=\"_ _0\"></span>asic and dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re calculati<span class=\"_ _0\"></span>ons are also p<span class=\"_ _0\"></span>resented b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e Group\u2019s adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1f4\">cos<span class=\"_ _0\"></span>ts. Ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is a non-<span class=\"_ _0\"></span>GAAP pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce mea<span class=\"_ _0\"></span>sure that is con<span class=\"_ _0\"></span>sidered to p<span class=\"_ _0\"></span>rovide a compa<span class=\"_ _0\"></span>rable mea<span class=\"_ _0\"></span>sure of the under<span class=\"_ _0\"></span>lying </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1f5\">per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it excl<span class=\"_ _0\"></span>udes the imp<span class=\"_ _0\"></span>act of shor<span class=\"_ _0\"></span>t-term eco<span class=\"_ _0\"></span>nomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other items<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs202\">Final di<span class=\"_ _0\"></span>vidends on o<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y shares are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a liabilit<span class=\"_ _0\"></span>y and d<span class=\"_ _0\"></span>educte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are approved by th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s own<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs203\">Interim<span class=\"_ gs47\"> </span>divi<span class=\"_ _0\"></span>dends are de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are paid. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs204\">Divid<span class=\"_ _0\"></span>ends for the yea<span class=\"_ _0\"></span>r that are approve<span class=\"_ _0\"></span>d after the re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting perio<span class=\"_ _0\"></span>d are dealt with a<span class=\"_ _0\"></span>s an event afte<span class=\"_ _0\"></span>r the repor<span class=\"_ _0\"></span>ting pe<span class=\"_ _0\"></span>riod. De<span class=\"_ _0\"></span>clared div<span class=\"_ _0\"></span>idends are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs205\">thos<span class=\"_ _0\"></span>e that are appro<span class=\"_ _0\"></span>priately aut<span class=\"_ _0\"></span>horise<span class=\"_ _0\"></span>d and are no lon<span class=\"_ _0\"></span>ger at the dis<span class=\"_ _0\"></span>cretion of the enti<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs207\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ins<span class=\"_ _0\"></span>urance reven<span class=\"_ _0\"></span>ue reflec<span class=\"_ _0\"></span>ts the provisio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es arising f<span class=\"_ _0\"></span>rom a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts at a<span class=\"_ _0\"></span>n amount that refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs208\">con<span class=\"_ _0\"></span>sideration to wh<span class=\"_ _0\"></span>ich the Group ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>s to be entitle<span class=\"_ _0\"></span>d in exchang<span class=\"_ _0\"></span>e for those s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es. In<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue from a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs209\">therefore t<span class=\"_ _0\"></span>he relevant po<span class=\"_ _0\"></span>rtion for th<span class=\"_ _0\"></span>e period of th<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al consid<span class=\"_ _0\"></span>eration for the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts, (i.<span class=\"_ _0\"></span>e. the amount of pre<span class=\"_ _0\"></span>miums paid to th<span class=\"_ _0\"></span>e Group adj<span class=\"_ _0\"></span>usted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs20a\">for finan<span class=\"_ _0\"></span>cing effe<span class=\"_ _0\"></span>ct (the time val<span class=\"_ _0\"></span>ue of money) and exclu<span class=\"_ _0\"></span>ding any investme<span class=\"_ _0\"></span>nt compon<span class=\"_ _0\"></span>ents). The total c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation for a group of contr<span class=\"_ _0\"></span>acts c<span class=\"_ _0\"></span>overs </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs20b\">amo<span class=\"_ _0\"></span>unts related to th<span class=\"_ _0\"></span>e provision of ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and is comp<span class=\"_ _0\"></span>rised of: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs20c\">\u2022 <span class=\"_ _19\"> </span>the re<span class=\"_ _0\"></span>lease of the C<span class=\"_ _0\"></span>SM;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs20d\">\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk rela<span class=\"_ _0\"></span>ting to current se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws192 gs20e\">\u2022 <span class=\"_ _19\"> </span><span class=\"ws1\">cl<span class=\"_ _0\"></span>aims and othe<span class=\"_ _0\"></span>r insuranc<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vice expe<span class=\"_ _0\"></span>nses inc<span class=\"_ _0\"></span>urred in the pe<span class=\"_ _0\"></span>riod, g<span class=\"_ _0\"></span>enerally m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at the amount<span class=\"_ _0\"></span>s expe<span class=\"_ _0\"></span>cted at the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e period;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs20f\">\u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows re<span class=\"_ _0\"></span>covery w<span class=\"_ _0\"></span>hich is determin<span class=\"_ _0\"></span>ed by alloc<span class=\"_ _0\"></span>ating the po<span class=\"_ _0\"></span>rtion of pre<span class=\"_ _0\"></span>miums relate<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o t<span class=\"_ _0\"></span>he recover<span class=\"_ _0\"></span>y of those c<span class=\"_ _0\"></span>ash </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs210\">flows on th<span class=\"_ _0\"></span>e basis of the p<span class=\"_ _0\"></span>assa<span class=\"_ _0\"></span>ge of time over the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d coverage of a gro<span class=\"_ _0\"></span>up of contrac<span class=\"_ _0\"></span>ts; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs211\">\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r amounts<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding any other pre<span class=\"_ _0\"></span>-recog<span class=\"_ _0\"></span>nition ca<span class=\"_ _0\"></span>sh flow ass<span class=\"_ _0\"></span>ets dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed at the date of initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs212\">The am<span class=\"_ _0\"></span>ount of the CS<span class=\"_ _0\"></span>M of a group of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at is recog<span class=\"_ _0\"></span>nised as in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue in eac<span class=\"_ _0\"></span>h year is determin<span class=\"_ _0\"></span>ed by identif<span class=\"_ _0\"></span>ying the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs213\">covera<span class=\"_ _0\"></span>ge units in th<span class=\"_ _0\"></span>e group, alloc<span class=\"_ _0\"></span>ating the C<span class=\"_ _0\"></span>SM remain<span class=\"_ _0\"></span>ing at the end of th<span class=\"_ _0\"></span>e year equa<span class=\"_ _0\"></span>lly to each cover<span class=\"_ _0\"></span>age unit provid<span class=\"_ _0\"></span>ed in the year a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs214\">expe<span class=\"_ _0\"></span>cted to be p<span class=\"_ _0\"></span>rovided in fut<span class=\"_ _0\"></span>ure years<span class=\"_ _0\"></span>, and rec<span class=\"_ _0\"></span>ognising in p<span class=\"_ _0\"></span>rofit or loss th<span class=\"_ _0\"></span>e amount of the CS<span class=\"_ _0\"></span>M alloc<span class=\"_ _0\"></span>ated to covera<span class=\"_ _0\"></span>ge units provi<span class=\"_ _0\"></span>ded in the year. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs215\">The n<span class=\"_ _0\"></span>umber of covera<span class=\"_ _0\"></span>ge units in a gro<span class=\"_ _0\"></span>up is the quantit<span class=\"_ _0\"></span>y of ser<span class=\"_ _0\"></span>vice provi<span class=\"_ _0\"></span>ded by the cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s in the group, dete<span class=\"_ _0\"></span>rmined by con<span class=\"_ _0\"></span>sidering for e<span class=\"_ _0\"></span>ach </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs216\">contr<span class=\"_ _0\"></span>act the qu<span class=\"_ _0\"></span>antity of b<span class=\"_ _0\"></span>enefits provi<span class=\"_ _0\"></span>ded unde<span class=\"_ _0\"></span>r a contrac<span class=\"_ _0\"></span>t and its exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period. T<span class=\"_ _0\"></span>he coverag<span class=\"_ _0\"></span>e units are revie<span class=\"_ _0\"></span>wed and upd<span class=\"_ _0\"></span>ated at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs217\">eac<span class=\"_ _0\"></span>h repor<span class=\"_ _0\"></span>ting date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs218\">The Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>er the following wh<span class=\"_ _0\"></span>en determinin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e units: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs219\">\u2022 <span class=\"_ _19\"> </span>the q<span class=\"_ _0\"></span>uantit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>enefits p<span class=\"_ _0\"></span>rovided by contr<span class=\"_ _0\"></span>acts in th<span class=\"_ _0\"></span>e group; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21a\">\u2022 <span class=\"_ _19\"> </span>the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s in the group; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21b\">\u2022 <span class=\"_ _19\"> </span>the likeliho<span class=\"_ _0\"></span>od of insured e<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nts occ<span class=\"_ _0\"></span>urring, o<span class=\"_ _0\"></span>nly to the ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nt that they af<span class=\"_ _0\"></span>fect the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s in the group;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21c\">\u2022 <span class=\"_ _19\"> </span>for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipati<span class=\"_ _0\"></span>on features<span class=\"_ _0\"></span>, the gen<span class=\"_ _0\"></span>eration of an inves<span class=\"_ _0\"></span>tment return fo<span class=\"_ _0\"></span>r the policy<span class=\"_ _0\"></span>holder, if applicab<span class=\"_ _0\"></span>le </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21d\">(investm<span class=\"_ _0\"></span>ent-return ser<span class=\"_ _0\"></span>vice); an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21e\">\u2022 <span class=\"_ _19\"> </span>for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s with direc<span class=\"_ _0\"></span>t parti<span class=\"_ _0\"></span>cipation feat<span class=\"_ _0\"></span>ures, the m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment of under<span class=\"_ _0\"></span>lying items on b<span class=\"_ _0\"></span>ehalf of the p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>er (investme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>-<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21f\">relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vice).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs220\">The c<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rage unit<span class=\"_ _0\"></span>s for groups of reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are de<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rmined ba<span class=\"_ _0\"></span>sed on th<span class=\"_ _0\"></span>e quantit<span class=\"_ _0\"></span>y of coverage p<span class=\"_ _0\"></span>rovided by the rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs221\">contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld in the gro<span class=\"_ _0\"></span>up but not the cover<span class=\"_ _0\"></span>age provide<span class=\"_ _0\"></span>d by the insure<span class=\"_ _0\"></span>r to its polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s through th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs222\">However, where the re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e held is a 1<span class=\"_ _0\"></span>00% quot<span class=\"_ _0\"></span>a share arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nt, it is exp<span class=\"_ _0\"></span>ected t<span class=\"_ _0\"></span>hat the covera<span class=\"_ _0\"></span>ge units wo<span class=\"_ _0\"></span>uld be con<span class=\"_ _0\"></span>sistent with th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs223\">under<span class=\"_ _0\"></span>lying insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. Where th<span class=\"_ _0\"></span>ere is a chan<span class=\"_ _0\"></span>ge to the fulfilm<span class=\"_ _0\"></span>ent cash flo<span class=\"_ _0\"></span>ws of the group of unde<span class=\"_ _0\"></span>rlying polic<span class=\"_ _0\"></span>ies that do<span class=\"_ _0\"></span>es not adj<span class=\"_ _0\"></span>ust the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs224\">CS<span class=\"_ _0\"></span>M, it als<span class=\"_ _0\"></span>o would not ad<span class=\"_ _0\"></span>just th<span class=\"_ _0\"></span>e CSM of the gro<span class=\"_ _0\"></span>up of reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs226\">Fees re<span class=\"_ _0\"></span>lated to the provis<span class=\"_ _0\"></span>ion of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and adminis<span class=\"_ _0\"></span>tration se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s ser<span class=\"_ _0\"></span>vices are provid<span class=\"_ _0\"></span>ed. Front<span class=\"_ gs47\"> </span>end </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs227\">fees<span class=\"_ _0\"></span>, which are c<span class=\"_ _0\"></span>harged a<span class=\"_ _0\"></span>t the incepti<span class=\"_ _0\"></span>on of serv<span class=\"_ _0\"></span>ice contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, are deferred a<span class=\"_ _0\"></span>s a liabilit<span class=\"_ _0\"></span>y and reco<span class=\"_ _0\"></span>gnised ove<span class=\"_ _0\"></span>r the life of the contra<span class=\"_ _0\"></span>ct. No s<span class=\"_ _0\"></span>ignificant </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs228\">judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s are require<span class=\"_ _0\"></span>d in determining th<span class=\"_ _0\"></span>e timing or amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f fe<span class=\"_ _0\"></span>e income o<span class=\"_ _0\"></span>r the cost<span class=\"_ _0\"></span>s incurre<span class=\"_ _0\"></span>d to obtain or fulfil a c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs229\">Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F does not in<span class=\"_ _0\"></span>clude amo<span class=\"_ _0\"></span>unts related to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der tax<span class=\"_ _0\"></span>.  Policyhol<span class=\"_ _0\"></span>der tax is c<span class=\"_ _0\"></span>ollecte<span class=\"_ _0\"></span>d through </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs22a\">adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts to unit price<span class=\"_ _0\"></span>s and is therefore re<span class=\"_ _0\"></span>flecte<span class=\"_ _0\"></span>d in chang<span class=\"_ _0\"></span>e in in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs22b\">The t<span class=\"_ _0\"></span>able below di<span class=\"_ _0\"></span>saggre<span class=\"_ _0\"></span>gates fe<span class=\"_ _0\"></span>es and comm<span class=\"_ _0\"></span>issions by s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs22d\">Net inves<span class=\"_ _0\"></span>tment inc<span class=\"_ _0\"></span>ome comp<span class=\"_ _0\"></span>rises interes<span class=\"_ _0\"></span>t, divide<span class=\"_ _0\"></span>nds, re<span class=\"_ _0\"></span>nts rece<span class=\"_ _0\"></span>ivable, ne<span class=\"_ _0\"></span>t interest inc<span class=\"_ _0\"></span>ome/(<span class=\"_ _2\"></span>exp<span class=\"_ _0\"></span>ense) on the G<span class=\"_ _0\"></span>roup define<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ension </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs22e\">sch<span class=\"_ _0\"></span>eme ass<span class=\"_ _0\"></span>et/(liabilit<span class=\"_ _0\"></span>y), fair value ga<span class=\"_ _0\"></span>ins and los<span class=\"_ _0\"></span>ses on finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets (except for re<span class=\"_ _0\"></span>insurers\u2019 sh<span class=\"_ _0\"></span>are of in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities with<span class=\"_ _0\"></span>out DPF<span class=\"_ _2\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs22f\">se<span class=\"_ _0\"></span>e note E1), financi<span class=\"_ _0\"></span>al liabilities an<span class=\"_ _0\"></span>d investment p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty at fa<span class=\"_ _0\"></span>ir value and imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses on loa<span class=\"_ _0\"></span>ns and rec<span class=\"_ _0\"></span>eivables<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs230\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent as it acc<span class=\"_ _0\"></span>rues usin<span class=\"_ _0\"></span>g the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs231\">Divid<span class=\"_ _0\"></span>end incom<span class=\"_ _0\"></span>e is reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment on the date th<span class=\"_ _0\"></span>e right to rece<span class=\"_ _0\"></span>ive payment is es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed, whic<span class=\"_ _0\"></span>h in the cas<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs232\">of<span class=\"_ gs47\"> </span>liste<span class=\"_ _0\"></span>d securit<span class=\"_ _0\"></span>ies is the ex-divi<span class=\"_ _0\"></span>dend date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs233\">Renta<span class=\"_ _0\"></span>l income fro<span class=\"_ _0\"></span>m in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement on a s<span class=\"_ _0\"></span>traight-line b<span class=\"_ _0\"></span>asis over the term of th<span class=\"_ _0\"></span>e lease. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs234\">Leas<span class=\"_ _0\"></span>e incentives g<span class=\"_ _0\"></span>ranted are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as an integ<span class=\"_ _0\"></span>ral par<span class=\"_ _0\"></span>t of the total renta<span class=\"_ _0\"></span>l income.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs235\">Fair value g<span class=\"_ _0\"></span>ains and lo<span class=\"_ _0\"></span>sses on fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd financi<span class=\"_ _0\"></span>al liabilities de<span class=\"_ _0\"></span>signated a<span class=\"_ _0\"></span>t fair value<span class=\"_ gs47\"> </span>thro<span class=\"_ _0\"></span>ugh profit or los<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs236\">con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>. Fair value gain<span class=\"_ _0\"></span>s and loss<span class=\"_ _0\"></span>es inclu<span class=\"_ _0\"></span>des both reali<span class=\"_ _0\"></span>sed and unre<span class=\"_ _0\"></span>alised g<span class=\"_ _0\"></span>ains and lo<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs238\">Insur<span class=\"_ _0\"></span>ance fina<span class=\"_ _0\"></span>nce inco<span class=\"_ _0\"></span>me and expe<span class=\"_ _0\"></span>nses c<span class=\"_ _0\"></span>omprise ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s arising from t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>ts of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs239\">the tim<span class=\"_ _0\"></span>e value of money, financ<span class=\"_ _0\"></span>ial risk and ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>s therein, un<span class=\"_ _0\"></span>less any su<span class=\"_ _0\"></span>ch chang<span class=\"_ _0\"></span>es for groups of dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts are alloc<span class=\"_ _0\"></span>ated to a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs23a\">los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent and incl<span class=\"_ _0\"></span>uded in insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s. They in<span class=\"_ _0\"></span>clude ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment of groups of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s caus<span class=\"_ _0\"></span>ed by </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs23b\">chan<span class=\"_ _0\"></span>ges in the va<span class=\"_ _0\"></span>lue of underlyin<span class=\"_ _0\"></span>g items. T<span class=\"_ _0\"></span>he Group pre<span class=\"_ _0\"></span>sents ins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance inc<span class=\"_ _0\"></span>ome or expe<span class=\"_ _0\"></span>nses in profit or l<span class=\"_ _0\"></span>oss.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs262\">Insuranc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> se<span class=\"_ _0\"></span>rvice expenses<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs263\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es arising from in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in profit or los<span class=\"_ _0\"></span>s gener<span class=\"_ _0\"></span>ally as they are in<span class=\"_ _0\"></span>curred. T<span class=\"_ _0\"></span>hey exclude </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs264\">repaym<span class=\"_ _0\"></span>ents of investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>onents an<span class=\"_ _0\"></span>d compris<span class=\"_ _0\"></span>e the following item<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs265\">\u2022 <span class=\"_ _19\"> </span>ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent to liabilities for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims and ben<span class=\"_ _0\"></span>efits<span class=\"_ _0\"></span>, excluding inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>ponent<span class=\"_ _0\"></span>s reduce<span class=\"_ _0\"></span>d by loss co<span class=\"_ _0\"></span>mponent all<span class=\"_ _0\"></span>ocation<span class=\"_ _0\"></span>s; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs266\">\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r incurred dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able expen<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, including am<span class=\"_ _0\"></span>ounts of any othe<span class=\"_ _0\"></span>r pre-rec<span class=\"_ _0\"></span>ognition c<span class=\"_ _0\"></span>ash flows a<span class=\"_ _0\"></span>ssets (othe<span class=\"_ _0\"></span>r than insur<span class=\"_ _0\"></span>ance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs267\">acq<span class=\"_ _0\"></span>uisition ca<span class=\"_ _0\"></span>sh flows) derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at the date of initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs268\">\u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs269\">\u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows as<span class=\"_ _0\"></span>sets im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs26a\">\u2022 <span class=\"_ _19\"> </span>rever<span class=\"_ _0\"></span>sal of impairm<span class=\"_ _0\"></span>ent of asset<span class=\"_ _0\"></span>s for insuran<span class=\"_ _0\"></span>ce acqui<span class=\"_ _0\"></span>sition cas<span class=\"_ _0\"></span>h flows.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs26b\">Net income or e<span class=\"_ _2\"></span>xpense from reinsurance contracts held<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs26c\">Inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>enses f<span class=\"_ _0\"></span>rom reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts are pre<span class=\"_ _0\"></span>sented s<span class=\"_ _0\"></span>eparatel<span class=\"_ _0\"></span>y from income a<span class=\"_ _0\"></span>nd expen<span class=\"_ _0\"></span>ses from ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. Inc<span class=\"_ _0\"></span>ome and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs26d\">expe<span class=\"_ _0\"></span>nses from re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, o<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>er than ins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance inc<span class=\"_ _0\"></span>ome or expe<span class=\"_ _0\"></span>nses<span class=\"_ _0\"></span>, are prese<span class=\"_ _0\"></span>nted on a net ba<span class=\"_ _0\"></span>sis as \u2018net expen<span class=\"_ _0\"></span>ses from </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs26e\">reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 in th<span class=\"_ _0\"></span>e insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice resul<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs26f\">Net ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s from reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts c<span class=\"_ _0\"></span>omprise an a<span class=\"_ _0\"></span>llocation of re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e premiums pa<span class=\"_ _0\"></span>id less am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>overed from rein<span class=\"_ _0\"></span>surers<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs270\">The Gro<span class=\"_ _0\"></span>up recog<span class=\"_ _0\"></span>nises an all<span class=\"_ _0\"></span>ocation of rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e premiums pai<span class=\"_ _0\"></span>d in profit or loss a<span class=\"_ _0\"></span>s it receive<span class=\"_ _0\"></span>s ser<span class=\"_ _0\"></span>vices unde<span class=\"_ _0\"></span>r groups of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs271\">The all<span class=\"_ _0\"></span>ocation of rein<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>remiums pai<span class=\"_ _0\"></span>d relating to se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d for each p<span class=\"_ _0\"></span>eriod repre<span class=\"_ _0\"></span>sents th<span class=\"_ _0\"></span>e to<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>al of the chan<span class=\"_ _0\"></span>ges in the as<span class=\"_ _0\"></span>set for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs272\">remain<span class=\"_ _0\"></span>ing coverag<span class=\"_ _0\"></span>e that relate<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces for which th<span class=\"_ _0\"></span>e Group expe<span class=\"_ _0\"></span>cts to pay c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gs273\">Administr<span class=\"_ _0\"></span>ativ<span class=\"_ _2\"></span>e expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs274\">Adminis<span class=\"_ _0\"></span>trative expe<span class=\"_ _0\"></span>nses are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tatement a<span class=\"_ _0\"></span>s incurred<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div>nteres<span class=\"_ _0\"></span>t payable is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt as it accr<span class=\"_ _0\"></span>ues and is c<span class=\"_ _0\"></span>alculated u<span class=\"_ _0\"></span>sing the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs294\">Inc<span class=\"_ _0\"></span>ome tax c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s current and defe<span class=\"_ _0\"></span>rred tax<span class=\"_ _0\"></span>. Inco<span class=\"_ _0\"></span>me tax is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt except to the ex<span class=\"_ _0\"></span>tent that it rel<span class=\"_ _0\"></span>ates </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs295\">to items re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the s<span class=\"_ _0\"></span>tatement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d compreh<span class=\"_ _0\"></span>ensive inco<span class=\"_ _0\"></span>me or the st<span class=\"_ _0\"></span>atement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, in whi<span class=\"_ _0\"></span>ch case i<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs296\">is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in these s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs297\">Current t<span class=\"_ _0\"></span>ax is the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d tax payabl<span class=\"_ _0\"></span>e on the taxa<span class=\"_ _0\"></span>ble incom<span class=\"_ _0\"></span>e for the year, using tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e date </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs298\">of the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>osition tog<span class=\"_ _0\"></span>ether with a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ments to ta<span class=\"_ _0\"></span>x payable in res<span class=\"_ _0\"></span>pect of prev<span class=\"_ _0\"></span>ious years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs299\">The t<span class=\"_ _0\"></span>ax charg<span class=\"_ _0\"></span>e is analyse<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e in respec<span class=\"_ _0\"></span>t of policyh<span class=\"_ _0\"></span>olders\u2019 ret<span class=\"_ _0\"></span>urns and ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e on owners\u2019 retur<span class=\"_ _0\"></span>ns. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs29b\">The Gro<span class=\"_ _0\"></span>up has is<span class=\"_ _0\"></span>sued ordina<span class=\"_ _0\"></span>ry sh<span class=\"_ _0\"></span>ares which are c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d as equit<span class=\"_ _0\"></span>y. Increme<span class=\"_ _0\"></span>ntal ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal cos<span class=\"_ _0\"></span>ts that are dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to the iss<span class=\"_ _0\"></span>ue of<span class=\"_ gs47\"> </span>these </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs29c\">share<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised in e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, net of ta<span class=\"_ _0\"></span>x.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a7\">Where t<span class=\"_ _0\"></span>he Phoeni<span class=\"_ _0\"></span>x Group Employee B<span class=\"_ _0\"></span>enefit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t (\u2018<span class=\"_ _0\"></span>EBT\u2019) a<span class=\"_ _0\"></span>cquires sh<span class=\"_ _0\"></span>ares in the Co<span class=\"_ _0\"></span>mpany or obtain<span class=\"_ _0\"></span>s rights to purch<span class=\"_ _0\"></span>ase its s<span class=\"_ _0\"></span>hares<span class=\"_ _0\"></span>, the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a8\">con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>aid (includin<span class=\"_ _0\"></span>g any attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s, ne<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f t<span class=\"_ _0\"></span>ax) is sh<span class=\"_ _0\"></span>own as a dedu<span class=\"_ _0\"></span>ction from own<span class=\"_ _0\"></span>ers\u2019 equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. G<span class=\"_ _0\"></span>ains and los<span class=\"_ _0\"></span>ses on<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ales </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a9\">of share<span class=\"_ _0\"></span>s held by the EBT are c<span class=\"_ _0\"></span>harged o<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>credited to th<span class=\"_ _0\"></span>e own shares a<span class=\"_ _0\"></span>ccount in eq<span class=\"_ _0\"></span>uity.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ab\">The oth<span class=\"_ _0\"></span>er reser<span class=\"_ _0\"></span>ves comp<span class=\"_ _0\"></span>rise the own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y revaluati<span class=\"_ _0\"></span>on reser<span class=\"_ _0\"></span>ve and the c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs2ac\">Owner-occupied property revaluation<span class=\"_ _2\"></span> reser<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ad\">This res<span class=\"_ _0\"></span>erve c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the revaluation s<span class=\"_ _0\"></span>urplus arisin<span class=\"_ _0\"></span>g on revaluation of own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. When a revalua<span class=\"_ _0\"></span>tion loss ar<span class=\"_ _0\"></span>ises on a previo<span class=\"_ _0\"></span>usly </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ae\">revalue<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>t it should b<span class=\"_ _0\"></span>e deduc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d first a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he previous reva<span class=\"_ _0\"></span>luation gain<span class=\"_ _0\"></span>. Any excess im<span class=\"_ _0\"></span>pairment will th<span class=\"_ _0\"></span>en be rec<span class=\"_ _0\"></span>orded as an im<span class=\"_ _0\"></span>pairment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2af\">expe<span class=\"_ _0\"></span>nse in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs2b0\">Cas<span class=\"_ _0\"></span>h flow hed<span class=\"_ _0\"></span>ging re<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b1\">Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b2\">ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b3\">los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement, a<span class=\"_ _0\"></span>nd is repor<span class=\"_ _0\"></span>ted in net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b4\">Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b5\">the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b6\">He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d when the Gro<span class=\"_ _0\"></span>up revok<span class=\"_ _2\"></span>es t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing relations<span class=\"_ _0\"></span>hip, when the h<span class=\"_ _0\"></span>edging in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nt expires or is so<span class=\"_ _0\"></span>ld, termina<span class=\"_ _0\"></span>ted, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b7\">or exercis<span class=\"_ _0\"></span>ed, or wh<span class=\"_ _0\"></span>en it no long<span class=\"_ _0\"></span>er qualifie<span class=\"_ _0\"></span>s for hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing. Any gain o<span class=\"_ _0\"></span>r loss rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income an<span class=\"_ _0\"></span>d accum<span class=\"_ _0\"></span>ulated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b8\">in equi<span class=\"_ _0\"></span>ty at that t<span class=\"_ _0\"></span>ime is recycl<span class=\"_ _0\"></span>ed to profit or los<span class=\"_ _0\"></span>s over the per<span class=\"_ _0\"></span>iod the he<span class=\"_ _0\"></span>dged item im<span class=\"_ _0\"></span>pact<span class=\"_ _0\"></span>s profit or los<span class=\"_ _0\"></span>s<span class=\"fc7\">.<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2b9\">Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edge ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy are inc<span class=\"_ _0\"></span>luded in note E1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2bb\">An eq<span class=\"_ _0\"></span>uity ins<span class=\"_ _0\"></span>trument is a c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t that eviden<span class=\"_ _0\"></span>ces a resid<span class=\"_ _0\"></span>ual interest in th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s of an entit<span class=\"_ _0\"></span>y after de<span class=\"_ _0\"></span>ductin<span class=\"_ _0\"></span>g all its liabiliti<span class=\"_ _0\"></span>es. Acc<span class=\"_ _0\"></span>ordingly, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2bc\">a<span class=\"_ gs47\"> </span>finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>ument is treate<span class=\"_ _0\"></span>d as equit<span class=\"_ _0\"></span>y if:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2bd\">\u2022 <span class=\"_ _19\"> </span>the<span class=\"_ _0\"></span>re is no contra<span class=\"_ _0\"></span>ctual o<span class=\"_ _0\"></span>bligation to de<span class=\"_ _0\"></span>liver cash or oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts or to exchan<span class=\"_ _0\"></span>ge financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets or liabilitie<span class=\"_ _0\"></span>s on terms tha<span class=\"_ _0\"></span>t may be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2be\">unfavourab<span class=\"_ _0\"></span>le; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2bf\">\u2022 <span class=\"_ _19\"> </span>the in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nt is a non-de<span class=\"_ _0\"></span>rivative that co<span class=\"_ _0\"></span>ntains no co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>ual obligati<span class=\"_ _0\"></span>on to deliver a variab<span class=\"_ _0\"></span>le number of sh<span class=\"_ _0\"></span>ares or is a der<span class=\"_ _0\"></span>ivative that will be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2c0\">set<span class=\"_ _0\"></span>tled on<span class=\"_ _0\"></span>ly by the Group exch<span class=\"_ _0\"></span>anging a fixe<span class=\"_ _0\"></span>d amount of ca<span class=\"_ _0\"></span>sh or other as<span class=\"_ _0\"></span>sets for a fi<span class=\"_ _0\"></span>xed numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s own equit<span class=\"_ _0\"></span>y instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2c1\">The Fi<span class=\"_ _0\"></span>xed Rate Rese<span class=\"_ _0\"></span>t P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual Re<span class=\"_ _0\"></span>stricte<span class=\"_ _0\"></span>d Tier 1 C<span class=\"_ _0\"></span>ontingent C<span class=\"_ _0\"></span>onvertib<span class=\"_ _0\"></span>le Notes (\u2018<span class=\"_ _0\"></span>Tier 1 N<span class=\"_ _0\"></span>otes\u2019) me<span class=\"_ _0\"></span>et the definitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>quity a<span class=\"_ _0\"></span>nd acco<span class=\"_ _0\"></span>rdingly are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2c2\">shown a<span class=\"_ _0\"></span>s a separa<span class=\"_ _0\"></span>te catego<span class=\"_ _0\"></span>ry within e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y at the proce<span class=\"_ _0\"></span>eds of iss<span class=\"_ _0\"></span>ue. The co<span class=\"_ _0\"></span>upons on th<span class=\"_ _0\"></span>e instrum<span class=\"_ _0\"></span>ents are rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed as distr<span class=\"_ _0\"></span>ibutions on th<span class=\"_ _0\"></span>e date </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2c3\">of payment a<span class=\"_ _0\"></span>nd are charg<span class=\"_ _0\"></span>ed direc<span class=\"_ _0\"></span>tly to the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2c5\">Non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts are s<span class=\"_ _0\"></span>tated at th<span class=\"_ _0\"></span>e share of net as<span class=\"_ _0\"></span>sets at<span class=\"_ _0\"></span>tribute<span class=\"_ _0\"></span>d to the non-c<span class=\"_ _0\"></span>ontrolling intere<span class=\"_ _0\"></span>st holde<span class=\"_ _0\"></span>r at the time of ac<span class=\"_ _0\"></span>quisition, a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2c6\">for the rel<span class=\"_ _0\"></span>evant share of subs<span class=\"_ _0\"></span>equent c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gs2cc\">Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2cd\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are to be c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d into one of the followin<span class=\"_ _0\"></span>g measure<span class=\"_ _0\"></span>ment cate<span class=\"_ _0\"></span>gories<span class=\"_ _0\"></span>: Fair value throug<span class=\"_ _0\"></span>h profit or los<span class=\"_ _0\"></span>s (\u2018F<span class=\"_ _0\"></span>VT<span class=\"_ _0\"></span>PL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>), fair value </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ce\">throu<span class=\"_ _0\"></span>gh other com<span class=\"_ _0\"></span>prehensi<span class=\"_ _0\"></span>ve i<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>come (\u2018<span class=\"_ _0\"></span>FVOC<span class=\"_ _0\"></span>I\u2019<span class=\"_ _0\"></span>) and amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. Classific<span class=\"_ _0\"></span>ation is ma<span class=\"_ _0\"></span>de base<span class=\"_ _0\"></span>d on the obj<span class=\"_ _0\"></span>ectives of th<span class=\"_ _0\"></span>e entity<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s bus<span class=\"_ _0\"></span>iness m<span class=\"_ _0\"></span>odel </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2cf\">for man<span class=\"_ _0\"></span>aging it<span class=\"_ _0\"></span>s financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and the cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al cash flow c<span class=\"_ _0\"></span>harac<span class=\"_ _0\"></span>teristic<span class=\"_ _0\"></span>s of the instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d0\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are me<span class=\"_ _0\"></span>asured at a<span class=\"_ _0\"></span>mort<span class=\"_ _0\"></span>ised co<span class=\"_ _0\"></span>st where th<span class=\"_ _0\"></span>ey have:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d1\">\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al terms that g<span class=\"_ _0\"></span>ive rise to cas<span class=\"_ _0\"></span>h flows on spe<span class=\"_ _0\"></span>cified date<span class=\"_ _0\"></span>s, that re<span class=\"_ _0\"></span>present s<span class=\"_ _0\"></span>olely paym<span class=\"_ _0\"></span>ents of princip<span class=\"_ _0\"></span>al and interes<span class=\"_ _0\"></span>t on the princ<span class=\"_ _0\"></span>ipal </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d2\">amo<span class=\"_ _0\"></span>unt outst<span class=\"_ _0\"></span>anding; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d3\">\u2022 <span class=\"_ _19\"> </span>are he<span class=\"_ _0\"></span>ld within a busin<span class=\"_ _0\"></span>ess mo<span class=\"_ _0\"></span>del whos<span class=\"_ _0\"></span>e obje<span class=\"_ _0\"></span>ctive is achieve<span class=\"_ _0\"></span>d by holding to c<span class=\"_ _0\"></span>ollect c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual cas<span class=\"_ _0\"></span>h flows.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d4\">The<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s are initially re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at cos<span class=\"_ _0\"></span>t, be<span class=\"_ _0\"></span>ing the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration paid for t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d5\">All<span class=\"_ gs47\"> </span>tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s directly a<span class=\"_ _0\"></span>ttribut<span class=\"_ _0\"></span>able to the ac<span class=\"_ _0\"></span>quisition are a<span class=\"_ _0\"></span>lso includ<span class=\"_ _0\"></span>ed in the cos<span class=\"_ _0\"></span>t of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d6\">thes<span class=\"_ _0\"></span>e financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>, using the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d7\">Equities<span class=\"_ _0\"></span>, debt se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s, colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes<span class=\"_ _0\"></span>, derivatives a<span class=\"_ _0\"></span>nd cer<span class=\"_ _0\"></span>tain loan<span class=\"_ _0\"></span>s and depo<span class=\"_ _0\"></span>sits are me<span class=\"_ _0\"></span>asured at F<span class=\"_ _0\"></span>VTP<span class=\"_ _0\"></span>L as they are man<span class=\"_ _0\"></span>aged </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs2d8\">and evaluated on a fair<span class=\"_ _2\"></span> value basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2d9\">Purcha<span class=\"_ _0\"></span>ses and s<span class=\"_ _0\"></span>ales of finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d on the tra<span class=\"_ _0\"></span>de date, which is t<span class=\"_ _0\"></span>he date that the G<span class=\"_ _0\"></span>roup commit<span class=\"_ _0\"></span>s to purchas<span class=\"_ _0\"></span>e or sell the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2da\">Where d<span class=\"_ _0\"></span>erivative finan<span class=\"_ _0\"></span>cial inst<span class=\"_ _0\"></span>ruments a<span class=\"_ _0\"></span>re held to hed<span class=\"_ _0\"></span>ge the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, a<span class=\"_ _0\"></span>nd are desig<span class=\"_ _0\"></span>nated as c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2db\">the ef<span class=\"_ _0\"></span>fective p<span class=\"_ _0\"></span>ortion of any g<span class=\"_ _0\"></span>ain or loss th<span class=\"_ _0\"></span>at arises o<span class=\"_ _0\"></span>n remeas<span class=\"_ _0\"></span>urement to fair val<span class=\"_ _0\"></span>ue is initially re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other co<span class=\"_ _0\"></span>mprehen<span class=\"_ _0\"></span>sive income a<span class=\"_ _0\"></span>nd is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2dc\">rec<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>led to profit or los<span class=\"_ _0\"></span>s as the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>tem impact<span class=\"_ _0\"></span>s the profit or lo<span class=\"_ _0\"></span>ss. For s<span class=\"_ _0\"></span>uch instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, the timing of th<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nition of any gain or lo<span class=\"_ _0\"></span>ss that </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2dd\">arise<span class=\"_ _0\"></span>s on remea<span class=\"_ _0\"></span>surement to fa<span class=\"_ _0\"></span>ir value in profit or los<span class=\"_ _0\"></span>s depe<span class=\"_ _0\"></span>nds on the nat<span class=\"_ _0\"></span>ure of the hedg<span class=\"_ _0\"></span>e relations<span class=\"_ _0\"></span>hip.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2de\">The Gro<span class=\"_ _0\"></span>up has treat<span class=\"_ _0\"></span>ies in place w<span class=\"_ _0\"></span>ith third par<span class=\"_ _0\"></span>ty ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ompanies to p<span class=\"_ _0\"></span>rovide reinsura<span class=\"_ _0\"></span>nce in resp<span class=\"_ _0\"></span>ect of liabilit<span class=\"_ _0\"></span>ies that are linked to the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2df\">per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of funds maint<span class=\"_ _0\"></span>ained by th<span class=\"_ _0\"></span>ose comp<span class=\"_ _0\"></span>anies. T<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>ts in que<span class=\"_ _0\"></span>stion do not tr<span class=\"_ _0\"></span>ansfer sig<span class=\"_ _0\"></span>nificant ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k and therefore a<span class=\"_ _0\"></span>re </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e0\">clas<span class=\"_ _0\"></span>sified as fin<span class=\"_ _0\"></span>ancial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts and are val<span class=\"_ _0\"></span>ued at fair valu<span class=\"_ _0\"></span>e through profit a<span class=\"_ _0\"></span>nd loss<span class=\"_ _0\"></span>. Thes<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are disc<span class=\"_ _0\"></span>losed un<span class=\"_ _0\"></span>der Reinsure<span class=\"_ _0\"></span>rs\u2019 share of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e1\">investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial po<span class=\"_ _0\"></span>sition.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs2e2\">Imp<span class=\"_ _0\"></span>airme<span class=\"_ _0\"></span>nt of finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e3\">The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with it<span class=\"_ _0\"></span>s loans an<span class=\"_ _0\"></span>d deposit<span class=\"_ _0\"></span>s, re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s, ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts and othe<span class=\"_ _0\"></span>r financia<span class=\"_ _0\"></span>l </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e4\">as<span class=\"_ _0\"></span>sets ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cos<span class=\"_ _0\"></span>t. The me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit impairm<span class=\"_ _0\"></span>ent is base<span class=\"_ _0\"></span>d on an E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Credit Los<span class=\"_ _0\"></span>s (\u2018EC<span class=\"_ _0\"></span>L<span class=\"_ _3\"></span>\u2019) m<span class=\"_ _0\"></span>odel an<span class=\"_ _0\"></span>d depend<span class=\"_ _0\"></span>s upon </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e5\">wheth<span class=\"_ _0\"></span>er there ha<span class=\"_ _0\"></span>s been a sig<span class=\"_ _0\"></span>nificant inc<span class=\"_ _0\"></span>rease in cre<span class=\"_ _0\"></span>dit risk.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e6\">For thos<span class=\"_ _0\"></span>e credit exp<span class=\"_ _0\"></span>osures for whic<span class=\"_ _0\"></span>h credit risk h<span class=\"_ _0\"></span>as not incre<span class=\"_ _0\"></span>ased sig<span class=\"_ _0\"></span>nificantly s<span class=\"_ _0\"></span>ince initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion, the G<span class=\"_ _0\"></span>roup meas<span class=\"_ _0\"></span>ures loss all<span class=\"_ _0\"></span>owances at a<span class=\"_ _0\"></span>n </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e7\">amo<span class=\"_ _0\"></span>unt equal to the tot<span class=\"_ _0\"></span>al expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s resulting from d<span class=\"_ _0\"></span>efault events th<span class=\"_ _0\"></span>at are pos<span class=\"_ _0\"></span>sible within 12 mo<span class=\"_ _0\"></span>nths after t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting date </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e8\">(\u2018<span class=\"_ _0\"></span>12-month ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). For those cre<span class=\"_ _0\"></span>dit expos<span class=\"_ _0\"></span>ures for which the<span class=\"_ _0\"></span>re has be<span class=\"_ _0\"></span>en a signific<span class=\"_ _0\"></span>ant increas<span class=\"_ _0\"></span>e in credit ris<span class=\"_ _0\"></span>k since initial re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ition, the G<span class=\"_ _0\"></span>roup </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2e9\">mea<span class=\"_ _0\"></span>sures and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es an allowan<span class=\"_ _0\"></span>ce at an amo<span class=\"_ _0\"></span>unt equal to the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>ses over th<span class=\"_ _0\"></span>e remaining life of the ex<span class=\"_ _0\"></span>posure, irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ea\">the timin<span class=\"_ _0\"></span>g of the default (<span class=\"_ _0\"></span>\u2018Lifetime ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). If the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t becom<span class=\"_ _0\"></span>es \u2018credit-impaire<span class=\"_ _0\"></span>d\u2019 (following signifi<span class=\"_ _0\"></span>cant finan<span class=\"_ _0\"></span>cial diffi<span class=\"_ _0\"></span>culty of is<span class=\"_ _0\"></span>suer<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2eb\">borrowe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, or a defaul<span class=\"_ _0\"></span>t/brea<span class=\"_ _0\"></span>ch of a covenant), th<span class=\"_ _0\"></span>e Group will rec<span class=\"_ _0\"></span>ognise a Lifetim<span class=\"_ _0\"></span>e ECL. ECLs a<span class=\"_ _0\"></span>re derived from un<span class=\"_ _0\"></span>biased a<span class=\"_ _0\"></span>nd probabilit<span class=\"_ _0\"></span>y-we<span class=\"_ _0\"></span>ighted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ec\">es<span class=\"_ _0\"></span>timates of expe<span class=\"_ _0\"></span>cted los<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ed\">The lo<span class=\"_ _0\"></span>ss allowan<span class=\"_ _0\"></span>ce reduce<span class=\"_ _0\"></span>s the carr<span class=\"_ _0\"></span>ying va<span class=\"_ _0\"></span>lue of the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t and is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date. ECL<span class=\"_ _0\"></span>s and subs<span class=\"_ _0\"></span>equent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ee\">reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nts of the ECL, a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls12 ws13 gs2ef\">Fair<span class=\"_ _2\"></span> value estimation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f0\">The fa<span class=\"_ _0\"></span>ir values of finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets su<span class=\"_ _0\"></span>ch as publicl<span class=\"_ _0\"></span>y traded s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and deriva<span class=\"_ _0\"></span>tives are base<span class=\"_ _0\"></span>d on quoted m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f1\">price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end. Th<span class=\"_ _0\"></span>e quoted mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et pric<span class=\"_ _0\"></span>e used for fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets is t<span class=\"_ _0\"></span>he applica<span class=\"_ _0\"></span>ble bid price o<span class=\"_ _0\"></span>n the perio<span class=\"_ _0\"></span>d end date. Th<span class=\"_ _0\"></span>e fair value of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f2\">investm<span class=\"_ _0\"></span>ents that a<span class=\"_ _0\"></span>re not trade<span class=\"_ _0\"></span>d in an active m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et is d<span class=\"_ _0\"></span>etermined u<span class=\"_ _0\"></span>sing valuatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnique<span class=\"_ _0\"></span>s such as broker quote<span class=\"_ _0\"></span>s, pric<span class=\"_ _0\"></span>ing model<span class=\"_ _0\"></span>s or discounte<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f3\">ca<span class=\"_ _0\"></span>sh flow techni<span class=\"_ _0\"></span>ques. Wh<span class=\"_ _0\"></span>ere pricing m<span class=\"_ _0\"></span>odels are u<span class=\"_ _0\"></span>sed, inp<span class=\"_ _0\"></span>uts are ba<span class=\"_ _0\"></span>sed on ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et rel<span class=\"_ _0\"></span>ated data at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd. Where dis<span class=\"_ _0\"></span>counted c<span class=\"_ _0\"></span>ash flow<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f5\">tech<span class=\"_ _0\"></span>niques are us<span class=\"_ _0\"></span>ed, es<span class=\"_ _0\"></span>timated fu<span class=\"_ _0\"></span>ture cash fl<span class=\"_ _0\"></span>ows are base<span class=\"_ _0\"></span>d on contra<span class=\"_ _0\"></span>ctual c<span class=\"_ _0\"></span>ash flows us<span class=\"_ _0\"></span>ing current ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions an<span class=\"_ _0\"></span>d market calibra<span class=\"_ _0\"></span>ted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f6\">disc<span class=\"_ _0\"></span>ount rates and inte<span class=\"_ _0\"></span>rest rate as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s for similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f7\">For units in un<span class=\"_ _0\"></span>it trust<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>s in open-e<span class=\"_ _0\"></span>nded inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>panies<span class=\"_ _0\"></span>, fair value is de<span class=\"_ _0\"></span>termined by refere<span class=\"_ _0\"></span>nce to publis<span class=\"_ _0\"></span>hed bid val<span class=\"_ _0\"></span>ues. Th<span class=\"_ _0\"></span>e fair </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f8\">value of re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s and floatin<span class=\"_ _0\"></span>g rate and overnight d<span class=\"_ _0\"></span>eposit<span class=\"_ _0\"></span>s with credit in<span class=\"_ _0\"></span>stitutio<span class=\"_ _0\"></span>ns is their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value. The f<span class=\"_ _0\"></span>air value of fixed intere<span class=\"_ _0\"></span>st-bearin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2f9\">dep<span class=\"_ _0\"></span>osits is es<span class=\"_ _0\"></span>timated us<span class=\"_ _0\"></span>ing disco<span class=\"_ _0\"></span>unted cash fl<span class=\"_ _0\"></span>ow techniqu<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs2fa\">Assoc<span class=\"_ _0\"></span>iates<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2fb\">Inves<span class=\"_ _0\"></span>tments in as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>tes that are he<span class=\"_ _0\"></span>ld for investme<span class=\"_ _0\"></span>nt purpose<span class=\"_ _0\"></span>s are acco<span class=\"_ _0\"></span>unted for under I<span class=\"_ _0\"></span>FRS 9 </div><div class=\"t m13d h17d ff2 fseb fc3 sc0 ls1 ws1 gs2fc\">Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s</div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2fd\"> as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 </div><div class=\"t m13d h17d ff2 fseb fc3 sc0 ls1 ws1 gs2fe\">Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2ff\">. The<span class=\"_ _0\"></span>se are mea<span class=\"_ _0\"></span>sured at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs300\">Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l assets<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs301\">A finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>et (<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r part of a gro<span class=\"_ _0\"></span>up of similar financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets) is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d where:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs302\">\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts to rec<span class=\"_ _0\"></span>eive cash flow<span class=\"_ _0\"></span>s from the as<span class=\"_ _0\"></span>set have expired; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs303\">\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup retains th<span class=\"_ _0\"></span>e right to rece<span class=\"_ _0\"></span>ive cash flow<span class=\"_ _0\"></span>s from the ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>, but has as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d an obligation to p<span class=\"_ _0\"></span>ay them in full with<span class=\"_ _0\"></span>out materia<span class=\"_ _0\"></span>l delay </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs304\">to<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y under a \u2018pass<span class=\"_ _0\"></span>-through<span class=\"_ _0\"></span>\u2019 arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>; or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs305\">\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has tra<span class=\"_ _0\"></span>nsferred i<span class=\"_ _0\"></span>ts rights to re<span class=\"_ _0\"></span>ceive ca<span class=\"_ _0\"></span>sh flows from the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d has eithe<span class=\"_ _0\"></span>r transfe<span class=\"_ _0\"></span>rred subs<span class=\"_ _0\"></span>tantially all th<span class=\"_ _0\"></span>e risks and rewa<span class=\"_ _0\"></span>rds of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs306\">as<span class=\"_ _0\"></span>set, or ha<span class=\"_ _0\"></span>s neither t<span class=\"_ _0\"></span>ransferre<span class=\"_ _0\"></span>d nor retain<span class=\"_ _0\"></span>ed subs<span class=\"_ _0\"></span>tantially all t<span class=\"_ _0\"></span>he risks and rewa<span class=\"_ _0\"></span>rds of the ass<span class=\"_ _0\"></span>et, but h<span class=\"_ _0\"></span>as transfe<span class=\"_ _0\"></span>rred control of th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gs307\">Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> liab<span class=\"_ _0\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs308\">On initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition, fin<span class=\"_ _0\"></span>ancial liabili<span class=\"_ _0\"></span>ties are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d when due an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at the fair val<span class=\"_ _0\"></span>ue of the consid<span class=\"_ _0\"></span>eration re<span class=\"_ _0\"></span>ceived le<span class=\"_ _0\"></span>ss direc<span class=\"_ _0\"></span>tly </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs309\">at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le transa<span class=\"_ _0\"></span>ction cos<span class=\"_ _0\"></span>ts (with the exc<span class=\"_ _0\"></span>eption of liabilitie<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL for which all tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion cos<span class=\"_ _0\"></span>ts are expe<span class=\"_ _0\"></span>nsed).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs30a\">Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, fin<span class=\"_ _0\"></span>ancial lia<span class=\"_ _0\"></span>bilities (except for liab<span class=\"_ _0\"></span>ilities under inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF and othe<span class=\"_ _0\"></span>r liabilities de<span class=\"_ _0\"></span>signated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs30b\">at FV<span class=\"_ _0\"></span>TPL) are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost using t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive interest m<span class=\"_ _0\"></span>ethod. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs30c\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s are design<span class=\"_ _0\"></span>ated upon init<span class=\"_ _0\"></span>ial reco<span class=\"_ _0\"></span>gnition at F<span class=\"_ _0\"></span>VTPL wh<span class=\"_ _0\"></span>ere doing so re<span class=\"_ _0\"></span>sults in mo<span class=\"_ _0\"></span>re meaning<span class=\"_ _0\"></span>ful information b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e either<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs30d\">\u2022 <span class=\"_ _19\"> </span>it elim<span class=\"_ _0\"></span>inates or signifi<span class=\"_ _0\"></span>cantly re<span class=\"_ _0\"></span>duces ac<span class=\"_ _0\"></span>counting mi<span class=\"_ _0\"></span>smatches t<span class=\"_ _0\"></span>hat would othe<span class=\"_ _0\"></span>rwise a<span class=\"_ _0\"></span>rise from me<span class=\"_ _0\"></span>asuring as<span class=\"_ _0\"></span>sets or li<span class=\"_ _0\"></span>abilities or re<span class=\"_ _0\"></span>cognisin<span class=\"_ _0\"></span>g the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs30e\">gain<span class=\"_ _0\"></span>s and loss<span class=\"_ _0\"></span>es on them o<span class=\"_ _0\"></span>n different b<span class=\"_ _0\"></span>ases; or<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs30f\">\u2022 <span class=\"_ _19\"> </span>a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, financ<span class=\"_ _0\"></span>ial liabilities o<span class=\"_ _0\"></span>r both is mana<span class=\"_ _0\"></span>ged an<span class=\"_ _0\"></span>d its per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce is evaluate<span class=\"_ _0\"></span>d and mana<span class=\"_ _0\"></span>ged on a fa<span class=\"_ _0\"></span>ir value basis<span class=\"_ _0\"></span>, in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs310\">acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith a docum<span class=\"_ _0\"></span>ented risk ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent or investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy<span class=\"_ _2\"></span>, a<span class=\"_ _0\"></span>nd information ab<span class=\"_ _0\"></span>out the inves<span class=\"_ _0\"></span>tments is p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span>ided interna<span class=\"_ _0\"></span>lly on that </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs311\">basi<span class=\"_ _0\"></span>s to the Group\u2019s k<span class=\"_ _2\"></span>ey ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent per<span class=\"_ _0\"></span>sonnel.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs312\">Inv<span class=\"_ _2\"></span>estment contracts w<span class=\"_ _2\"></span>ithout DPF<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs313\">Contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der which th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance ri<span class=\"_ _0\"></span>sk to the Group from t<span class=\"_ _0\"></span>he policyh<span class=\"_ _0\"></span>older is not s<span class=\"_ _0\"></span>ignificant a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs314\">and a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r as financia<span class=\"_ _0\"></span>l liabilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs315\">Rec<span class=\"_ _0\"></span>eipts and p<span class=\"_ _0\"></span>ayments on inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF are acc<span class=\"_ _0\"></span>ounted for using d<span class=\"_ _0\"></span>eposit a<span class=\"_ _0\"></span>ccounting<span class=\"_ _0\"></span>, under w<span class=\"_ _0\"></span>hich the amo<span class=\"_ _0\"></span>unts colle<span class=\"_ _0\"></span>cted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs316\">and pa<span class=\"_ _0\"></span>id out are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the st<span class=\"_ _0\"></span>atement of<span class=\"_ gs47\"> </span>cons<span class=\"_ _0\"></span>olidated fin<span class=\"_ _0\"></span>ancial po<span class=\"_ _0\"></span>sition as an a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent to the liabilit<span class=\"_ _0\"></span>y to<span class=\"_ gs47\"> </span>the po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs317\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at fair value wh<span class=\"_ _0\"></span>ich is determine<span class=\"_ _0\"></span>d using a valu<span class=\"_ _0\"></span>ation techni<span class=\"_ _0\"></span>que to provide a reliab<span class=\"_ _0\"></span>le estim<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs318\">amo<span class=\"_ _0\"></span>unt f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r which the liabili<span class=\"_ _0\"></span>ty co<span class=\"_ _0\"></span>uld be trans<span class=\"_ _0\"></span>ferred in an ord<span class=\"_ _0\"></span>erly trans<span class=\"_ _0\"></span>action b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en market par<span class=\"_ _0\"></span>ticipant<span class=\"_ _0\"></span>s at the mea<span class=\"_ _0\"></span>surement date<span class=\"_ _0\"></span>, subje<span class=\"_ _0\"></span>ct to a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs319\">minimum e<span class=\"_ _0\"></span>qual to the sur<span class=\"_ _0\"></span>render valu<span class=\"_ _0\"></span>e. The valuat<span class=\"_ _0\"></span>ion of liabilities on unit-linked c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s are held at t<span class=\"_ _0\"></span>he fair value of the re<span class=\"_ _0\"></span>lated as<span class=\"_ _0\"></span>sets and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs31a\">liabilitie<span class=\"_ _0\"></span>s. The lia<span class=\"_ _0\"></span>bility is th<span class=\"_ _0\"></span>e sum of the unit-linked liabiliti<span class=\"_ _0\"></span>es plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exc<span class=\"_ _0\"></span>ess of fut<span class=\"_ _0\"></span>ure policy </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs31b\">cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs31c\">Movem<span class=\"_ _0\"></span>ents in the fair v<span class=\"_ _0\"></span>alue of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts witho<span class=\"_ _0\"></span>ut DPF and re<span class=\"_ _0\"></span>insurers\u2019 sh<span class=\"_ _0\"></span>are of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities are inc<span class=\"_ _0\"></span>luded in Ch<span class=\"_ _0\"></span>ange in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs31d\">investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs31e\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs are charg<span class=\"_ _0\"></span>ed for polic<span class=\"_ _0\"></span>y administ<span class=\"_ _0\"></span>ration ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces, s<span class=\"_ _0\"></span>urrender<span class=\"_ _0\"></span>s and other </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs31f\">contr<span class=\"_ _0\"></span>act fee<span class=\"_ _0\"></span>s. Thes<span class=\"_ _0\"></span>e fees are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as revenu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d in which the rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed. If the fe<span class=\"_ _0\"></span>es are for ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs320\">provide<span class=\"_ _0\"></span>d in future pe<span class=\"_ _0\"></span>riods<span class=\"_ _0\"></span>, they are deferre<span class=\"_ _0\"></span>d and reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r those pe<span class=\"_ _0\"></span>riods. \u2018<span class=\"_ _0\"></span>Front end<span class=\"_ _0\"></span>\u2019 f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es are cha<span class=\"_ _0\"></span>rged on so<span class=\"_ _0\"></span>me non-pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>ting </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs321\">investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. Where the n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract is m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at fair value, s<span class=\"_ _0\"></span>uch fees whi<span class=\"_ _0\"></span>ch relate to the provisi<span class=\"_ _0\"></span>on of future </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs322\">investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es are deferre<span class=\"_ _0\"></span>d and rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as the ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s are provided.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs323\">Net a<span class=\"_ _0\"></span>sset va<span class=\"_ _0\"></span>lue at<span class=\"_ _0\"></span>tribu<span class=\"_ _0\"></span>table t<span class=\"_ _0\"></span>o unitho<span class=\"_ _0\"></span>lders<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs324\">The n<span class=\"_ _0\"></span>et asset va<span class=\"_ _0\"></span>lue attr<span class=\"_ _0\"></span>ibutable to unit<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s represent<span class=\"_ _0\"></span>s the non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>st in colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes which a<span class=\"_ _0\"></span>re<span class=\"_ gs47\"> </span>consoli<span class=\"_ _0\"></span>dated by </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs325\">the Gro<span class=\"_ _0\"></span>up. This interes<span class=\"_ _0\"></span>t is clas<span class=\"_ _0\"></span>sified at F<span class=\"_ _0\"></span>VTPL an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at fair value<span class=\"_ _0\"></span>, which is eq<span class=\"_ _0\"></span>ual to the bid value of th<span class=\"_ _0\"></span>e number of unit<span class=\"_ _0\"></span>s of the colle<span class=\"_ _0\"></span>ctive </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs326\">investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>me not owne<span class=\"_ _0\"></span>d by the Group.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs327\">Obligations for<span class=\"_ _2\"></span> repayment of<span class=\"_ _2\"></span> collateral received<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs328\">It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al in stock l<span class=\"_ _0\"></span>ending and d<span class=\"_ _0\"></span>erivative tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns, us<span class=\"_ _0\"></span>ually in the form of ca<span class=\"_ _0\"></span>sh or marketabl<span class=\"_ _0\"></span>e securit<span class=\"_ _0\"></span>ies. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs329\">Where c<span class=\"_ _0\"></span>ash coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived is availab<span class=\"_ _0\"></span>le to the Group for inves<span class=\"_ _0\"></span>tment purp<span class=\"_ _0\"></span>oses<span class=\"_ _0\"></span>, it is reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s a \u2018financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>\u2019 and the c<span class=\"_ _0\"></span>ollateral rep<span class=\"_ _0\"></span>ayable </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs32a\">is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as \u2018obligation<span class=\"_ _0\"></span>s for repayment of c<span class=\"_ _0\"></span>ollateral re<span class=\"_ _0\"></span>ceived<span class=\"_ _0\"></span>\u2019 in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition. Th<span class=\"_ _0\"></span>e \u2018<span class=\"_ _2\"></span>oblig<span class=\"_ _0\"></span>ations for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs32b\">repaym<span class=\"_ _0\"></span>ent of collatera<span class=\"_ _0\"></span>l receive<span class=\"_ _0\"></span>d\u2019 are mea<span class=\"_ _0\"></span>sured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t, which in th<span class=\"_ _0\"></span>e case of ca<span class=\"_ _0\"></span>sh is equiva<span class=\"_ _0\"></span>lent to the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs32c\">rec<span class=\"_ _0\"></span>eived. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s collateral a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>ote E<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs32d\">Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l liabili<span class=\"_ _2\"></span>ties<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs32e\">A finan<span class=\"_ _0\"></span>cial liabilit<span class=\"_ _0\"></span>y is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when th<span class=\"_ _0\"></span>e obligation un<span class=\"_ _0\"></span>der the liabilit<span class=\"_ _0\"></span>y is dis<span class=\"_ _0\"></span>charge<span class=\"_ _0\"></span>d, canc<span class=\"_ _0\"></span>elled or ex<span class=\"_ _0\"></span>pires.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs32f\">Offset<span class=\"_ _0\"></span>ting<span class=\"_ _2\"></span> financial assets and financial li<span class=\"_ _2\"></span>abilities<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs330\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities are of<span class=\"_ _0\"></span>fset and t<span class=\"_ _0\"></span>he net amo<span class=\"_ _0\"></span>unt repor<span class=\"_ _0\"></span>ted in the st<span class=\"_ _0\"></span>atement of fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition only whe<span class=\"_ _0\"></span>n there is a le<span class=\"_ _0\"></span>gally </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs331\">enforce<span class=\"_ _0\"></span>able right to of<span class=\"_ _0\"></span>fset the re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed amount<span class=\"_ _0\"></span>s and the<span class=\"_ _0\"></span>re is an intention to set<span class=\"_ _0\"></span>tle on a net b<span class=\"_ _0\"></span>asis, o<span class=\"_ _0\"></span>r to realise the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d settl<span class=\"_ _0\"></span>e the liabilit<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs332\">simult<span class=\"_ _0\"></span>aneou<span class=\"_ _0\"></span>sly<span class=\"_ _2\"></span>. Wh<span class=\"_ _0\"></span>en financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies are off<span class=\"_ _0\"></span>set any related inte<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense is of<span class=\"_ _0\"></span>fset in the in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs334\">Hedge accoun<span class=\"_ _2\"></span>ting<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs335\">The Gro<span class=\"_ _0\"></span>up design<span class=\"_ _0\"></span>ates cer<span class=\"_ _0\"></span>tain deriv<span class=\"_ _0\"></span>atives as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to effe<span class=\"_ _0\"></span>ct cas<span class=\"_ _0\"></span>h flow hedg<span class=\"_ _0\"></span>es. At the in<span class=\"_ _0\"></span>ception of the h<span class=\"_ _0\"></span>edge rel<span class=\"_ _0\"></span>ationship, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs336\">the Gro<span class=\"_ _0\"></span>up docume<span class=\"_ _0\"></span>nts the rela<span class=\"_ _0\"></span>tionship bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing instr<span class=\"_ _0\"></span>ument and the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item, alo<span class=\"_ _0\"></span>ng with its ri<span class=\"_ _0\"></span>sk manag<span class=\"_ _0\"></span>ement ob<span class=\"_ _0\"></span>jecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s and its </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs337\">str<span class=\"_ _0\"></span>ategy for und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>aking variou<span class=\"_ _0\"></span>s hedge tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>therm<span class=\"_ _0\"></span>ore, at the inc<span class=\"_ _0\"></span>eption of the he<span class=\"_ _0\"></span>dge and o<span class=\"_ _0\"></span>n an ongoin<span class=\"_ _0\"></span>g basis<span class=\"_ _0\"></span>, the Group do<span class=\"_ _0\"></span>cuments </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs338\">wheth<span class=\"_ _0\"></span>er the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument is hig<span class=\"_ _0\"></span>hly effe<span class=\"_ _0\"></span>ctive in off<span class=\"_ _0\"></span>settin<span class=\"_ _0\"></span>g chang<span class=\"_ _0\"></span>es in fair value<span class=\"_ _0\"></span>s or cash flo<span class=\"_ _0\"></span>ws of the hedg<span class=\"_ _0\"></span>ed item at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs339\">hed<span class=\"_ _0\"></span>ged risk<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs33a\">Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs33b\">ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs33c\">los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in profit or loss<span class=\"_ _0\"></span>, and is in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs33d\">Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs33e\">the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs33f\">He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d if: the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s hed<span class=\"_ _0\"></span>ging obj<span class=\"_ _0\"></span>ective ha<span class=\"_ _0\"></span>s chang<span class=\"_ _0\"></span>ed (can resul<span class=\"_ _0\"></span>t in a partia<span class=\"_ _0\"></span>l discontinu<span class=\"_ _0\"></span>ance); the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs340\">hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument no lo<span class=\"_ _0\"></span>nger exi<span class=\"_ _0\"></span>sts or is s<span class=\"_ _0\"></span>old; there is n<span class=\"_ _0\"></span>o longer an e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic relations<span class=\"_ _0\"></span>hip betwe<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged ite<span class=\"_ _0\"></span>m and the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs341\">or the ef<span class=\"_ _0\"></span>fect of cre<span class=\"_ _0\"></span>dit risk st<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>s to dominate the va<span class=\"_ _0\"></span>lue chang<span class=\"_ _0\"></span>es that res<span class=\"_ _0\"></span>ult from the ec<span class=\"_ _0\"></span>onomic rel<span class=\"_ _0\"></span>ationship. Any g<span class=\"_ _0\"></span>ain or loss re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs342\">comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y at that tim<span class=\"_ _0\"></span>e is recycle<span class=\"_ _0\"></span>d to profit or loss ove<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d the hedg<span class=\"_ _0\"></span>ed item imp<span class=\"_ _0\"></span>acts p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs36b\">Level 1<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs36c\">The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents tra<span class=\"_ _0\"></span>ded in ac<span class=\"_ _0\"></span>tive markets (such as e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>hange tr<span class=\"_ _0\"></span>aded se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s and derivative<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) is b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n quoted market </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs36d\">price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end provid<span class=\"_ _0\"></span>ed by reco<span class=\"_ _0\"></span>gnised p<span class=\"_ _0\"></span>ricing ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. Market depth a<span class=\"_ _0\"></span>nd bid-as<span class=\"_ _0\"></span>k spreads a<span class=\"_ _0\"></span>re used to cor<span class=\"_ _0\"></span>roborate whe<span class=\"_ _0\"></span>ther an ac<span class=\"_ _0\"></span>tive </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs36e\">market exis<span class=\"_ _0\"></span>ts for an ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. Greater dept<span class=\"_ _0\"></span>h and narrower b<span class=\"_ _0\"></span>id-ask spre<span class=\"_ _0\"></span>ad indic<span class=\"_ _0\"></span>ate higher liqui<span class=\"_ _0\"></span>dity in th<span class=\"_ _0\"></span>e instrum<span class=\"_ _0\"></span>ent and are cla<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 1 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs36f\">input<span class=\"_ _0\"></span>s. For coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes an<span class=\"_ _0\"></span>d reinsurer<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 s<span class=\"_ _0\"></span>hare of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>, fair value is by refe<span class=\"_ _0\"></span>rence to publi<span class=\"_ _0\"></span>shed bid pr<span class=\"_ _0\"></span>ices.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs370\">Level 2<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs371\">Finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s traded in a<span class=\"_ _0\"></span>ctive markets wi<span class=\"_ _0\"></span>th less de<span class=\"_ _0\"></span>pth, or wide<span class=\"_ _0\"></span>r bid-ask sp<span class=\"_ _0\"></span>reads<span class=\"_ _0\"></span>, which do not m<span class=\"_ _0\"></span>eet the cla<span class=\"_ _0\"></span>ssific<span class=\"_ _0\"></span>ation as Level 1 input<span class=\"_ _0\"></span>s, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs372\">are<span class=\"_ gs47\"> </span>cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 2. The fair val<span class=\"_ _0\"></span>ues of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents not tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets are dete<span class=\"_ _0\"></span>rmined usin<span class=\"_ _0\"></span>g broker quotes or valu<span class=\"_ _0\"></span>ation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs373\">tech<span class=\"_ _0\"></span>niques with ob<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>vable market input<span class=\"_ _0\"></span>s. Fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s valued us<span class=\"_ _0\"></span>ing broker quotes are cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as Level 2, only wh<span class=\"_ _0\"></span>ere there is a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs374\">suf<span class=\"_ _0\"></span>ficient ran<span class=\"_ _0\"></span>ge of available qu<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s. The fa<span class=\"_ _0\"></span>ir value of over-the-<span class=\"_ _0\"></span>counter deri<span class=\"_ _0\"></span>vatives is es<span class=\"_ _0\"></span>timated usin<span class=\"_ _0\"></span>g pricing mo<span class=\"_ _0\"></span>dels or disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flow </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs375\">tech<span class=\"_ _0\"></span>niques<span class=\"_ _0\"></span>. Collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es where the un<span class=\"_ _0\"></span>derlying a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are not price<span class=\"_ _0\"></span>d using ac<span class=\"_ _0\"></span>tive market prices a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d to be Level 2 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs376\">ins<span class=\"_ _0\"></span>truments a<span class=\"_ _0\"></span>nd will includ<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s which have a mate<span class=\"_ _0\"></span>rial underl<span class=\"_ _0\"></span>ying holding<span class=\"_ _0\"></span>s within real e<span class=\"_ _0\"></span>state/<span class=\"_ _2\"></span>pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty. Where pric<span class=\"_ _0\"></span>ing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs377\">mod<span class=\"_ _0\"></span>els are use<span class=\"_ _0\"></span>d, input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on market related d<span class=\"_ _0\"></span>ata at the pe<span class=\"_ _0\"></span>riod end. W<span class=\"_ _0\"></span>here disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flows are<span class=\"_ gs47\"> </span>use<span class=\"_ _0\"></span>d, es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs378\">are bas<span class=\"_ _0\"></span>ed on man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent\u2019s bes<span class=\"_ _0\"></span>t estimate<span class=\"_ _0\"></span>s and the disc<span class=\"_ _0\"></span>ount rate use<span class=\"_ _0\"></span>d is a market relate<span class=\"_ _0\"></span>d rate for<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f inves<span class=\"_ _0\"></span>tment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs379\">contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es reflec<span class=\"_ _0\"></span>ts the fair va<span class=\"_ _0\"></span>lue of the underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities in the fun<span class=\"_ _0\"></span>ds plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs37a\">the exce<span class=\"_ _0\"></span>ss of future p<span class=\"_ _0\"></span>olicy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charge<span class=\"_ _0\"></span>s. The liab<span class=\"_ _0\"></span>ilities are con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>ntly determine<span class=\"_ _0\"></span>d to be Level 2 inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs37b\">Level 3<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs219\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y va<span class=\"_ _0\"></span>luation tec<span class=\"_ _0\"></span>hniques usin<span class=\"_ _0\"></span>g non-ob<span class=\"_ _0\"></span>serv<span class=\"_ _0\"></span>able market input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on a combin<span class=\"_ _0\"></span>ation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21a\">of<span class=\"_ gs47\"> </span>indep<span class=\"_ _0\"></span>endent third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce and intern<span class=\"_ _0\"></span>ally develope<span class=\"_ _0\"></span>d mode<span class=\"_ _0\"></span>ls. In rela<span class=\"_ _0\"></span>tion to investme<span class=\"_ _0\"></span>nts in hed<span class=\"_ _0\"></span>ge funds an<span class=\"_ _0\"></span>d private equit<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs37c\">non-<span class=\"_ _0\"></span>obser<span class=\"_ _0\"></span>vable third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce in the form of net as<span class=\"_ _0\"></span>set valua<span class=\"_ _0\"></span>tion state<span class=\"_ _0\"></span>ments is us<span class=\"_ _0\"></span>ed as the b<span class=\"_ _0\"></span>asis for the valu<span class=\"_ _0\"></span>ation. Adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts may be ma<span class=\"_ _0\"></span>de </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs37d\">to the net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>uation where oth<span class=\"_ _0\"></span>er eviden<span class=\"_ _0\"></span>ce, for exampl<span class=\"_ _0\"></span>e recent s<span class=\"_ _0\"></span>ales of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments in the<span class=\"_ gs47\"> </span>f<span class=\"_ _0\"></span>und, indic<span class=\"_ _0\"></span>ates this is re<span class=\"_ _0\"></span>quired. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs37e\">Se<span class=\"_ _0\"></span>curities th<span class=\"_ _0\"></span>at are valued u<span class=\"_ _0\"></span>sing broker quotes whic<span class=\"_ _0\"></span>h could not b<span class=\"_ _0\"></span>e corrobor<span class=\"_ _0\"></span>ated acros<span class=\"_ _0\"></span>s a suf<span class=\"_ _0\"></span>ficient rang<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>of quotes are con<span class=\"_ _0\"></span>sidered a<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>eve<span class=\"_ _0\"></span>l 3. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs21e\">For<span class=\"_ gs47\"> </span>a small n<span class=\"_ _0\"></span>umber of invest<span class=\"_ _0\"></span>ment vehicle<span class=\"_ _0\"></span>s and debt se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, st<span class=\"_ _0\"></span>andard valu<span class=\"_ _0\"></span>ation mode<span class=\"_ _0\"></span>ls are used<span class=\"_ _0\"></span>, as due to their n<span class=\"_ _0\"></span>ature and co<span class=\"_ _0\"></span>mplexit<span class=\"_ _0\"></span>y they </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs37f\">have no ex<span class=\"_ _0\"></span>ternal m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>. Input<span class=\"_ _0\"></span>s into such mod<span class=\"_ _0\"></span>els are bas<span class=\"_ _0\"></span>ed on obse<span class=\"_ _0\"></span>rvabl<span class=\"_ _0\"></span>e market data where p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f lo<span class=\"_ _0\"></span>ans, d<span class=\"_ _0\"></span>erivatives an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs380\">som<span class=\"_ _0\"></span>e borrowing<span class=\"_ _0\"></span>s with no ex<span class=\"_ _0\"></span>ternal market is dete<span class=\"_ _0\"></span>rmined by intern<span class=\"_ _0\"></span>ally develop<span class=\"_ _0\"></span>ed disco<span class=\"_ _0\"></span>unted cas<span class=\"_ _0\"></span>h flow model<span class=\"_ _0\"></span>s using approp<span class=\"_ _0\"></span>riate assum<span class=\"_ _0\"></span>ptions </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs381\">corro<span class=\"_ _0\"></span>borated wi<span class=\"_ _0\"></span>th extern<span class=\"_ _0\"></span>al market data whe<span class=\"_ _0\"></span>re possib<span class=\"_ _0\"></span>le.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs222\">For finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments th<span class=\"_ _0\"></span>at are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t fair value on a re<span class=\"_ _0\"></span>curring bas<span class=\"_ _0\"></span>is, the G<span class=\"_ _0\"></span>roup determine<span class=\"_ _0\"></span>s whether t<span class=\"_ _0\"></span>ransfer<span class=\"_ _0\"></span>s have occurre<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs382\">levels in th<span class=\"_ _0\"></span>e hierarchy by rea<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing cate<span class=\"_ _0\"></span>gorisa<span class=\"_ _0\"></span>tion (base<span class=\"_ _0\"></span>d on the lowes<span class=\"_ _0\"></span>t level input th<span class=\"_ _0\"></span>at is signific<span class=\"_ _0\"></span>ant to the fair valu<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment as a who<span class=\"_ _0\"></span>le<span class=\"_ _2\"></span>) </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs224\">during e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>eriod.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3bc\">The Gro<span class=\"_ _0\"></span>up purchas<span class=\"_ _0\"></span>es derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s princip<span class=\"_ _0\"></span>ally in conne<span class=\"_ _0\"></span>ction with t<span class=\"_ _0\"></span>he manag<span class=\"_ _0\"></span>ement of it<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t and investm<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3bd\">contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of reduc<span class=\"_ _0\"></span>tion of risk and ef<span class=\"_ _0\"></span>ficient p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y hold deriv<span class=\"_ _0\"></span>atives </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3be\">for the p<span class=\"_ _0\"></span>urpose of sellin<span class=\"_ _0\"></span>g and repurc<span class=\"_ _0\"></span>hasing in the n<span class=\"_ _0\"></span>ear term or wit<span class=\"_ _0\"></span>h the obje<span class=\"_ _0\"></span>ctive of gen<span class=\"_ _0\"></span>erating a profit f<span class=\"_ _0\"></span>rom shor<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-ter<span class=\"_ _0\"></span>m fluctua<span class=\"_ _0\"></span>tions in price o<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3bf\">margin<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up also holds d<span class=\"_ _0\"></span>erivatives whic<span class=\"_ _0\"></span>h are design<span class=\"_ _0\"></span>ated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to he<span class=\"_ _0\"></span>dge the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Euro and US D<span class=\"_ _0\"></span>ollar </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3c0\">borrow<span class=\"_ _0\"></span>ings. T<span class=\"_ _0\"></span>hese he<span class=\"_ _0\"></span>dging rela<span class=\"_ _0\"></span>tionships qu<span class=\"_ _0\"></span>alify for he<span class=\"_ _0\"></span>dge ac<span class=\"_ _0\"></span>counting un<span class=\"_ _0\"></span>der IFRS 9 a<span class=\"_ _0\"></span>nd are design<span class=\"_ _0\"></span>ated as ca<span class=\"_ _0\"></span>sh flow hed<span class=\"_ _0\"></span>ges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3c1\">Der<span class=\"_ _0\"></span>ivative financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed initially at f<span class=\"_ _0\"></span>air value and are s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ently reme<span class=\"_ _0\"></span>asured to fair va<span class=\"_ _0\"></span>lue. The ga<span class=\"_ _0\"></span>in or loss on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3c2\">reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement wh<span class=\"_ _0\"></span>ere the deriv<span class=\"_ _0\"></span>atives are held for t<span class=\"_ _0\"></span>rading<span class=\"_ _0\"></span>. Where deriva<span class=\"_ _0\"></span>tive </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3c3\">finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are h<span class=\"_ _0\"></span>eld to hed<span class=\"_ _0\"></span>ge the Group\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion of any gain or lo<span class=\"_ _0\"></span>ss that aris<span class=\"_ _0\"></span>es on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3c4\">reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is initia<span class=\"_ _0\"></span>lly recog<span class=\"_ _0\"></span>nised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and is re<span class=\"_ _0\"></span>cycled to profi<span class=\"_ _0\"></span>t or loss as th<span class=\"_ _0\"></span>e hedg<span class=\"_ _0\"></span>ed item impa<span class=\"_ _0\"></span>cts the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3c5\">profit or lo<span class=\"_ _0\"></span>ss. S<span class=\"_ _0\"></span>ee notes E1 an<span class=\"_ _0\"></span>d D3 for furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edging a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy.<span class=\"_ _3bd\"> </span></div>The Gro<span class=\"_ _0\"></span>up receive<span class=\"_ _0\"></span>s and pled<span class=\"_ _0\"></span>ges coll<span class=\"_ _0\"></span>ateral in the form of c<span class=\"_ _0\"></span>ash or non-<span class=\"_ _0\"></span>cash as<span class=\"_ _0\"></span>sets in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of stock len<span class=\"_ _0\"></span>ding trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s, deri<span class=\"_ _0\"></span>vative contrac<span class=\"_ _0\"></span>ts and reins<span class=\"_ _0\"></span>urance arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents in orde<span class=\"_ _0\"></span>r t<span class=\"_ _2\"></span>o re<span class=\"_ _0\"></span>duce the c<span class=\"_ _0\"></span>redit risk of the<span class=\"_ _0\"></span>se trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s. The am<span class=\"_ _0\"></span>ount and t<span class=\"_ _0\"></span>ype of collate<span class=\"_ _0\"></span>ral require<span class=\"_ _0\"></span>d where the Gro<span class=\"_ _0\"></span>up rec<span class=\"_ _0\"></span>eives collater<span class=\"_ _0\"></span>al depen<span class=\"_ _0\"></span>ds on an as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of<span class=\"_ gs47\"> </span>the credi<span class=\"_ _0\"></span>t risk of the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y, but is usuall<span class=\"_ _0\"></span>y in the form of cash a<span class=\"_ _0\"></span>nd marketable s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived in the form of c<span class=\"_ _0\"></span>ash, wh<span class=\"_ _0\"></span>ere the Group h<span class=\"_ _0\"></span>as contrac<span class=\"_ _0\"></span>tual rig<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s to receive th<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s gener<span class=\"_ _0\"></span>ated and is availa<span class=\"_ _0\"></span>ble to the Group for investm<span class=\"_ _0\"></span>ent purpo<span class=\"_ _0\"></span>ses, i<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised as a fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>set in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al position wi<span class=\"_ _0\"></span>th a corresp<span class=\"_ _0\"></span>onding fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>y for its re<span class=\"_ _0\"></span>payment. N<span class=\"_ _0\"></span>on-ca<span class=\"_ _0\"></span>sh collater<span class=\"_ _0\"></span>al receive<span class=\"_ _0\"></span>d is not reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition, unle<span class=\"_ _0\"></span>ss the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y defaul<span class=\"_ _0\"></span>ts on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the<span class=\"_ gs47\"> </span>relev<span class=\"_ _0\"></span>ant agreem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>Non-<span class=\"_ _0\"></span>cash c<span class=\"_ _0\"></span>ollateral ple<span class=\"_ _0\"></span>dged w<span class=\"_ _0\"></span>here the Gro<span class=\"_ _0\"></span>up retains the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual rights to re<span class=\"_ _0\"></span>ceive the c<span class=\"_ _0\"></span>ash flows g<span class=\"_ _0\"></span>enerate<span class=\"_ _0\"></span>d is not dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed from the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition, un<span class=\"_ _0\"></span>less the G<span class=\"_ _0\"></span>roup default<span class=\"_ _0\"></span>s on its oblig<span class=\"_ _0\"></span>ations unde<span class=\"_ _0\"></span>r the relevant a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nt. Cash c<span class=\"_ _0\"></span>ollateral pl<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d, where t<span class=\"_ _0\"></span>he counterpa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y has cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al rights to re<span class=\"_ _0\"></span>ceive the ca<span class=\"_ _0\"></span>sh flows ge<span class=\"_ _0\"></span>nerated<span class=\"_ _0\"></span>, is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d from the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fi<span class=\"_ _0\"></span>nancial posi<span class=\"_ _0\"></span>tion and a corre<span class=\"_ _0\"></span>spondin<span class=\"_ _0\"></span>g receiva<span class=\"_ _0\"></span>ble is reco<span class=\"_ _0\"></span>gnised fo<span class=\"_ _0\"></span>r its return<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is also par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y to reverse rep<span class=\"_ _0\"></span>urchase a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nts under w<span class=\"_ _0\"></span>hich sec<span class=\"_ _0\"></span>urities are purc<span class=\"_ _0\"></span>hased f<span class=\"_ _0\"></span>rom third par<span class=\"_ _0\"></span>ties with an ob<span class=\"_ _0\"></span>ligation to res<span class=\"_ _0\"></span>ell the se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>. The se<span class=\"_ _0\"></span>curities are n<span class=\"_ _0\"></span>ot recogn<span class=\"_ _0\"></span>ised as fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets on th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posi<span class=\"_ _0\"></span>tion, unle<span class=\"_ _0\"></span>ss the co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ty default<span class=\"_ _0\"></span>s on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the releva<span class=\"_ _0\"></span>nt agreem<span class=\"_ _0\"></span>ent. The r<span class=\"_ _0\"></span>ight to receive th<span class=\"_ _0\"></span>e return of any cash p<span class=\"_ _0\"></span>aid as purch<span class=\"_ _0\"></span>ase con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>lus interest is<span class=\"_ gs47\"> </span>rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as a financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t on the st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs416\">The Gro<span class=\"_ _0\"></span>up class<span class=\"_ _0\"></span>ifies the ma<span class=\"_ _0\"></span>jorit<span class=\"_ _0\"></span>y of its interes<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>earing b<span class=\"_ _0\"></span>orrowings a<span class=\"_ _0\"></span>s financial lia<span class=\"_ _0\"></span>bilities ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cost a<span class=\"_ _0\"></span>nd these a<span class=\"_ _0\"></span>re recog<span class=\"_ _0\"></span>nised </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs417\">initiall<span class=\"_ _0\"></span>y at fair value les<span class=\"_ _0\"></span>s any direct<span class=\"_ _0\"></span>ly attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s. Th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween initial c<span class=\"_ _0\"></span>ost an<span class=\"_ _0\"></span>d the redempt<span class=\"_ _0\"></span>ion value is amo<span class=\"_ _0\"></span>rtis<span class=\"_ _0\"></span>ed </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs418\">throu<span class=\"_ _0\"></span>gh the cons<span class=\"_ _0\"></span>olidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement over th<span class=\"_ _0\"></span>e period of the b<span class=\"_ _0\"></span>orrowing usin<span class=\"_ _0\"></span>g the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs419\">Ce<span class=\"_ _0\"></span>rtain b<span class=\"_ _0\"></span>orrowings are d<span class=\"_ _0\"></span>esignate<span class=\"_ _0\"></span>d upon initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion at fair value th<span class=\"_ _0\"></span>rough profit or lo<span class=\"_ _0\"></span>ss and me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value where d<span class=\"_ _0\"></span>oing so provide<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs41a\">more m<span class=\"_ _0\"></span>eaningf<span class=\"_ _0\"></span>ul in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation due to the re<span class=\"_ _0\"></span>asons s<span class=\"_ _0\"></span>tated in th<span class=\"_ _0\"></span>e financial li<span class=\"_ _0\"></span>abilities ac<span class=\"_ _0\"></span>counting po<span class=\"_ _0\"></span>licy (see n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te E1<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s relating to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs41b\">borrow<span class=\"_ _0\"></span>ings desig<span class=\"_ _0\"></span>nated upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition at fa<span class=\"_ _0\"></span>ir value throug<span class=\"_ _0\"></span>h profit or loss a<span class=\"_ _0\"></span>re expens<span class=\"_ _0\"></span>ed as incur<span class=\"_ _0\"></span>red. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs41c\">Borrow<span class=\"_ _0\"></span>ings are cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s either po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er or shareh<span class=\"_ _0\"></span>older bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _0\"></span>. P<span class=\"_ _2\"></span>oli<span class=\"_ _0\"></span>cyholde<span class=\"_ _0\"></span>r borrowing<span class=\"_ _0\"></span>s are those b<span class=\"_ _0\"></span>orrowings wh<span class=\"_ _0\"></span>ere there is ei<span class=\"_ _0\"></span>ther </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs41d\">no or limite<span class=\"_ _0\"></span>d shareh<span class=\"_ _0\"></span>older exp<span class=\"_ _0\"></span>osure, for examp<span class=\"_ _0\"></span>le, borrowin<span class=\"_ _0\"></span>gs at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e Group\u2019s with-profits o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs5bb\">Classification </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5bc\">Contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der which th<span class=\"_ _0\"></span>e Group acc<span class=\"_ _0\"></span>epts sign<span class=\"_ _0\"></span>ificant insur<span class=\"_ _0\"></span>ance risk a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s. Contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld by the Gro<span class=\"_ _0\"></span>up under </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5bd\">which it tr<span class=\"_ _0\"></span>ansfer<span class=\"_ _0\"></span>s significa<span class=\"_ _0\"></span>nt insuranc<span class=\"_ _0\"></span>e risk relate<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>derlying in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are clas<span class=\"_ _0\"></span>sified a<span class=\"_ _0\"></span>s reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. Some co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5be\">entere<span class=\"_ _0\"></span>d into by the Group have the l<span class=\"_ _0\"></span>egal form of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s but do not tr<span class=\"_ _0\"></span>ansfer sig<span class=\"_ _0\"></span>nificant ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k and expos<span class=\"_ _0\"></span>e the Group to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5bf\">finan<span class=\"_ _0\"></span>cial risk. T<span class=\"_ _0\"></span>hese co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are clas<span class=\"_ _0\"></span>sified as fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies and are referre<span class=\"_ _0\"></span>d to as investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c0\">All referen<span class=\"_ _0\"></span>ces in thes<span class=\"_ _0\"></span>e acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s to insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts incl<span class=\"_ _0\"></span>ude contra<span class=\"_ _0\"></span>cts is<span class=\"_ _0\"></span>sued, in<span class=\"_ _0\"></span>itiated or ac<span class=\"_ _0\"></span>quired by the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c1\">Group, unl<span class=\"_ _0\"></span>ess othe<span class=\"_ _0\"></span>rwise s<span class=\"_ _0\"></span>tated<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c2\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are class<span class=\"_ _0\"></span>ified as dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts or contra<span class=\"_ _0\"></span>cts wit<span class=\"_ _0\"></span>hout direc<span class=\"_ _0\"></span>t par<span class=\"_ _0\"></span>ticipation feat<span class=\"_ _0\"></span>ures. Dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c3\">contr<span class=\"_ _0\"></span>acts are c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts for which<span class=\"_ _0\"></span>, at inceptio<span class=\"_ _0\"></span>n:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c4\">\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>tual terms sp<span class=\"_ _0\"></span>ecif<span class=\"_ _0\"></span>y that the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der par<span class=\"_ _0\"></span>ticipates in a sh<span class=\"_ _0\"></span>are of a clearly id<span class=\"_ _0\"></span>entified p<span class=\"_ _0\"></span>ool of underly<span class=\"_ _0\"></span>ing items;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c5\">\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup expe<span class=\"_ _0\"></span>cts to pay to the p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder an amo<span class=\"_ _0\"></span>unt equal to a sub<span class=\"_ _0\"></span>stantial s<span class=\"_ _0\"></span>hare of the fair val<span class=\"_ _0\"></span>ue returns on th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g items; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c6\">\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup expe<span class=\"_ _0\"></span>cts a subs<span class=\"_ _0\"></span>tantial p<span class=\"_ _0\"></span>ropor<span class=\"_ _0\"></span>tion of any chang<span class=\"_ _0\"></span>e in the amount<span class=\"_ _0\"></span>s to be paid to the p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder to var<span class=\"_ _0\"></span>y with the ch<span class=\"_ _0\"></span>ange in fair val<span class=\"_ _0\"></span>ue of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c7\">the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5c8\">All other in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts and all rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s contrac<span class=\"_ _0\"></span>ts witho<span class=\"_ _0\"></span>ut direct p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ation feature<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ca\">Som<span class=\"_ _0\"></span>e investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts iss<span class=\"_ _0\"></span>ued by the Gro<span class=\"_ _0\"></span>up contain dis<span class=\"_ _0\"></span>cretionar<span class=\"_ _0\"></span>y par<span class=\"_ _0\"></span>ticipation fe<span class=\"_ _0\"></span>atures (\u2018<span class=\"_ _0\"></span>DPF<span class=\"_ _0\"></span>\u2019), where<span class=\"_ _0\"></span>by the investor h<span class=\"_ _0\"></span>as the right an<span class=\"_ _0\"></span>d is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5cb\">expe<span class=\"_ _0\"></span>cted to re<span class=\"_ _0\"></span>ceive, as a s<span class=\"_ _0\"></span>upplement to th<span class=\"_ _0\"></span>e amount not s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the Group\u2019s discretion<span class=\"_ _0\"></span>, potentiall<span class=\"_ _0\"></span>y significant a<span class=\"_ _0\"></span>dditional b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s based o<span class=\"_ _0\"></span>n the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5cc\">return of sp<span class=\"_ _0\"></span>ecified p<span class=\"_ _0\"></span>ools of invest<span class=\"_ _0\"></span>ment ass<span class=\"_ _0\"></span>ets. T<span class=\"_ _0\"></span>he Group ac<span class=\"_ _0\"></span>counts for th<span class=\"_ _0\"></span>ese contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der IFRS 17 c<span class=\"_ _0\"></span>onsis<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nt with insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5cd\">The cl<span class=\"_ _0\"></span>assific<span class=\"_ _0\"></span>ation ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent is made at t<span class=\"_ _0\"></span>he date of inceptio<span class=\"_ _0\"></span>n or for busine<span class=\"_ _0\"></span>ss combin<span class=\"_ _0\"></span>ations or po<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>folio transfe<span class=\"_ _0\"></span>rs, as a<span class=\"_ _0\"></span>t the date of acquis<span class=\"_ _0\"></span>ition. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ce\">Onc<span class=\"_ _0\"></span>e a contrac<span class=\"_ _0\"></span>t is ass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce, inves<span class=\"_ _0\"></span>tment with D<span class=\"_ _0\"></span>PF or reinsuran<span class=\"_ _0\"></span>ce, the c<span class=\"_ _0\"></span>lassific<span class=\"_ _0\"></span>ation contin<span class=\"_ _0\"></span>ues until the co<span class=\"_ _0\"></span>ntract is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5cf\">dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed or mod<span class=\"_ _0\"></span>ified.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d0\">When c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ing clas<span class=\"_ _0\"></span>sification<span class=\"_ _0\"></span>, and appl<span class=\"_ _0\"></span>ying the provisio<span class=\"_ _0\"></span>ns of IFRS 17<span class=\"_ _2\"></span>, the G<span class=\"_ _0\"></span>roup identifie<span class=\"_ _0\"></span>s a contrac<span class=\"_ _0\"></span>t as the sma<span class=\"_ _0\"></span>llest unit of ac<span class=\"_ _0\"></span>count. Th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>Group </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d1\">also m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s an evaluation of whe<span class=\"_ _0\"></span>ther a seri<span class=\"_ _0\"></span>es of contrac<span class=\"_ _0\"></span>ts can b<span class=\"_ _0\"></span>e treated to<span class=\"_ _0\"></span>gether in ap<span class=\"_ _0\"></span>plying IFR<span class=\"_ _0\"></span>S 17 base<span class=\"_ _0\"></span>d on reason<span class=\"_ _0\"></span>able and sup<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>table </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d2\">informatio<span class=\"_ _0\"></span>n, or wheth<span class=\"_ _0\"></span>er a single c<span class=\"_ _0\"></span>ontract c<span class=\"_ _0\"></span>ontains co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>s that ne<span class=\"_ _0\"></span>ed to be sep<span class=\"_ _0\"></span>arated an<span class=\"_ _0\"></span>d treated as if th<span class=\"_ _0\"></span>ey were stan<span class=\"_ _0\"></span>d-alone c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1a ws1b gs5d3\">Accou<span class=\"_ _0\"></span>nting treatm<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs5d4\">Separating components from insurance and re<span class=\"_ _2\"></span>insuranc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d5\">The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses i<span class=\"_ _0\"></span>ts insuran<span class=\"_ _0\"></span>ce produ<span class=\"_ _0\"></span>cts to deter<span class=\"_ _0\"></span>mine whethe<span class=\"_ _0\"></span>r they conta<span class=\"_ _0\"></span>in compon<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, which mus<span class=\"_ _0\"></span>t be acco<span class=\"_ _0\"></span>unted for under a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d6\">st<span class=\"_ _0\"></span>andards othe<span class=\"_ _0\"></span>r than IFR<span class=\"_ _0\"></span>S 17 (<span class=\"_ _2\"></span>dis<span class=\"_ _0\"></span>tinct n<span class=\"_ _0\"></span>on-insuran<span class=\"_ _0\"></span>ce comp<span class=\"_ _0\"></span>onents).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d7\">Where a<span class=\"_ _0\"></span>n insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t has a dis<span class=\"_ _0\"></span>tinct inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent and m<span class=\"_ _0\"></span>eets th<span class=\"_ _0\"></span>e separ<span class=\"_ _0\"></span>ation criteria e<span class=\"_ _0\"></span>stablis<span class=\"_ _0\"></span>hed unde<span class=\"_ _0\"></span>r IFRS 17<span class=\"_ _2\"></span>, the inves<span class=\"_ _0\"></span>tment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d8\">comp<span class=\"_ _0\"></span>onent is se<span class=\"_ _0\"></span>parated fro<span class=\"_ _0\"></span>m the hos<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>t and acc<span class=\"_ _0\"></span>ounted for unde<span class=\"_ _0\"></span>r IFRS 9. Th<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ssment of wh<span class=\"_ _0\"></span>ether a contr<span class=\"_ _0\"></span>act ha<span class=\"_ _0\"></span>s a distinc<span class=\"_ _0\"></span>t inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5d9\">comp<span class=\"_ _0\"></span>onent is c<span class=\"_ _0\"></span>arried out a<span class=\"_ _0\"></span>t inception of th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t, or the date of a<span class=\"_ _0\"></span>cquisition in th<span class=\"_ _0\"></span>e case of a bu<span class=\"_ _0\"></span>siness c<span class=\"_ _0\"></span>ombination<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5da\">When a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing whet<span class=\"_ _0\"></span>her the inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent is dis<span class=\"_ _0\"></span>tinct<span class=\"_ _0\"></span>, the Group co<span class=\"_ _0\"></span>nsiders t<span class=\"_ _0\"></span>he following<span class=\"_ _0\"></span>, which may indic<span class=\"_ _0\"></span>ate that the in<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5db\">investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>onent are high<span class=\"_ _0\"></span>ly interrelated:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5dc\">\u2022 <span class=\"_ _19\"> </span>the va<span class=\"_ _0\"></span>lue of one comp<span class=\"_ _0\"></span>onent varie<span class=\"_ _0\"></span>s with the other c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5dd\">\u2022 <span class=\"_ _19\"> </span>exis<span class=\"_ _0\"></span>tence of an opti<span class=\"_ _0\"></span>on to switch bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he different c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nts;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5de\">\u2022 <span class=\"_ _19\"> </span>dis<span class=\"_ _0\"></span>counts th<span class=\"_ _0\"></span>at span both el<span class=\"_ _0\"></span>ements e<span class=\"_ _0\"></span>.g. a redu<span class=\"_ _0\"></span>ced as<span class=\"_ _0\"></span>set mana<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nt charge ba<span class=\"_ _0\"></span>sed on tota<span class=\"_ _0\"></span>l si<span class=\"_ _2\"></span>ze of contr<span class=\"_ _0\"></span>act; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5df\">\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r interactin<span class=\"_ _0\"></span>g features e.<span class=\"_ _0\"></span>g. insura<span class=\"_ _0\"></span>nce risk from p<span class=\"_ _0\"></span>remium waiver<span class=\"_ _0\"></span>s and return of prem<span class=\"_ _0\"></span>ium covering both e<span class=\"_ _0\"></span>lement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e policy.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e0\">Afte<span class=\"_ _0\"></span>r separatin<span class=\"_ _0\"></span>g any distinc<span class=\"_ _0\"></span>t compo<span class=\"_ _0\"></span>nents<span class=\"_ _0\"></span>, the Group ap<span class=\"_ _0\"></span>plies the re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f I<span class=\"_ _0\"></span>FRS 17 to all remain<span class=\"_ _0\"></span>ing compo<span class=\"_ _0\"></span>nents of the in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e1\">or whe<span class=\"_ _0\"></span>re distinc<span class=\"_ _0\"></span>t criteria are not m<span class=\"_ _0\"></span>et, the wh<span class=\"_ _0\"></span>ole contra<span class=\"_ _0\"></span>ct is acc<span class=\"_ _0\"></span>ounted for within I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs5e2\">Level of a<span class=\"_ _0\"></span>ggre<span class=\"_ _0\"></span>gatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e3\">The Gro<span class=\"_ _0\"></span>up is require<span class=\"_ _0\"></span>d to divide its bu<span class=\"_ _0\"></span>siness into g<span class=\"_ _0\"></span>roups for the purp<span class=\"_ _0\"></span>oses of rec<span class=\"_ _0\"></span>ognition a<span class=\"_ _0\"></span>nd meas<span class=\"_ _0\"></span>urement<span class=\"_ _0\"></span>. The Group\u2019s busine<span class=\"_ _0\"></span>ss is firs<span class=\"_ _0\"></span>tly split into </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e4\">por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s. Port<span class=\"_ _0\"></span>folios co<span class=\"_ _0\"></span>ntain groups of co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s with similar ris<span class=\"_ _0\"></span>ks, which a<span class=\"_ _0\"></span>re manag<span class=\"_ _0\"></span>ed togeth<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>. Por<span class=\"_ _0\"></span>tfolios are f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r divided ba<span class=\"_ _0\"></span>sed on exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e5\">profita<span class=\"_ _0\"></span>bility at in<span class=\"_ _0\"></span>ception into thre<span class=\"_ _0\"></span>e categ<span class=\"_ _0\"></span>ories: one<span class=\"_ _0\"></span>rous contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at are profitable a<span class=\"_ _0\"></span>t initial reco<span class=\"_ _0\"></span>gnition an<span class=\"_ _0\"></span>d have no signific<span class=\"_ _0\"></span>ant risk of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e6\">be<span class=\"_ _0\"></span>coming one<span class=\"_ _0\"></span>rous<span class=\"_ _0\"></span>, and the rema<span class=\"_ _0\"></span>ining profitab<span class=\"_ _0\"></span>le contrac<span class=\"_ _0\"></span>ts. For re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts the s<span class=\"_ _0\"></span>ame three g<span class=\"_ _0\"></span>roups would b<span class=\"_ _0\"></span>e identified w<span class=\"_ _0\"></span>ith \u2018<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>erous\u2019 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e7\">bein<span class=\"_ _0\"></span>g replace<span class=\"_ _0\"></span>d with \u2018net gain\u2019 an<span class=\"_ _0\"></span>d \u2018<span class=\"_ _2\"></span>profit<span class=\"_ _0\"></span>able\u2019 bein<span class=\"_ _0\"></span>g replace<span class=\"_ _0\"></span>d with \u2018net cos<span class=\"_ _0\"></span>t\u2019<span class=\"_ _2\"></span>. Co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s which are is<span class=\"_ _0\"></span>sued more t<span class=\"_ _0\"></span>han one year ap<span class=\"_ _0\"></span>art are n<span class=\"_ _0\"></span>ot </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5e8\">perm<span class=\"_ _0\"></span>itted to b<span class=\"_ _0\"></span>e include<span class=\"_ _0\"></span>d within the s<span class=\"_ _0\"></span>ame group. H<span class=\"_ _0\"></span>owever as perm<span class=\"_ _0\"></span>itted by I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, t<span class=\"_ _0\"></span>he groups of cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r which the<span class=\"_ gs47\"> </span>F<span class=\"_ _0\"></span>V<span class=\"_ _4\"></span>A ha<span class=\"_ _0\"></span>s been a<span class=\"_ _0\"></span>dopted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs5e9\">on transition include contracts iss<span class=\"_ _0\"></span>ued more t<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span> one year apar<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ea\">The Gro<span class=\"_ _0\"></span>up has define<span class=\"_ _0\"></span>d por<span class=\"_ _0\"></span>tfolios of ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts is<span class=\"_ _0\"></span>sued bro<span class=\"_ _0\"></span>adly bas<span class=\"_ _0\"></span>ed on the pre<span class=\"_ _0\"></span>dominant ris<span class=\"_ _0\"></span>ks inherent in th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5eb\">produ<span class=\"_ _0\"></span>cts/<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, for exam<span class=\"_ _0\"></span>ple, long<span class=\"_ _0\"></span>evity, per<span class=\"_ _0\"></span>sisten<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty, and by cons<span class=\"_ _0\"></span>idering whe<span class=\"_ _0\"></span>ther group<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s are manag<span class=\"_ _0\"></span>ed toge<span class=\"_ _0\"></span>ther<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>ese </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ec\">por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s are furt<span class=\"_ _0\"></span>her split by le<span class=\"_ _0\"></span>gal entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, wi<span class=\"_ _0\"></span>th-profits f<span class=\"_ _0\"></span>und and contr<span class=\"_ _0\"></span>acts s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to different I<span class=\"_ _0\"></span>FRS 17 mea<span class=\"_ _0\"></span>surement m<span class=\"_ _0\"></span>odels are gro<span class=\"_ _0\"></span>uped </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ed\">sep<span class=\"_ _0\"></span>arately. The por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s are alloc<span class=\"_ _0\"></span>ated to cohor<span class=\"_ _0\"></span>ts b<span class=\"_ _0\"></span>ased on wh<span class=\"_ _0\"></span>ether they a<span class=\"_ _0\"></span>re onerous at in<span class=\"_ _0\"></span>ception or b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>eir expe<span class=\"_ _0\"></span>cted level of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ee\">profita<span class=\"_ _0\"></span>bility us<span class=\"_ _0\"></span>ing information availa<span class=\"_ _0\"></span>ble at incepti<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ef\">For reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held, p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folios are bas<span class=\"_ _0\"></span>ed upon sim<span class=\"_ _0\"></span>ilar risks to thos<span class=\"_ _0\"></span>e of the underl<span class=\"_ _0\"></span>ying contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. The reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f0\">as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed for agg<span class=\"_ _0\"></span>regation re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s on an individ<span class=\"_ _0\"></span>ual contra<span class=\"_ _0\"></span>ct basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f1\">The gro<span class=\"_ _0\"></span>uping of the insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s is determine<span class=\"_ _0\"></span>d at initial rec<span class=\"_ _0\"></span>ognition a<span class=\"_ _0\"></span>nd is not subs<span class=\"_ _0\"></span>equently re<span class=\"_ _0\"></span>asse<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d. Therefore<span class=\"_ _0\"></span>, a contrac<span class=\"_ _0\"></span>t will remain </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f2\">within th<span class=\"_ _0\"></span>e assign<span class=\"_ _0\"></span>ed agg<span class=\"_ _0\"></span>regation g<span class=\"_ _0\"></span>roup until it is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed, eith<span class=\"_ _0\"></span>er by expir<span class=\"_ _0\"></span>y or modific<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs5f3\">Recognitio<span class=\"_ _2\"></span>n<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f4\">The Gro<span class=\"_ _0\"></span>up recog<span class=\"_ _0\"></span>nises gro<span class=\"_ _0\"></span>ups of insuran<span class=\"_ _0\"></span>ce contrac<span class=\"_ _0\"></span>ts that i<span class=\"_ _0\"></span>t issues f<span class=\"_ _0\"></span>rom the earlie<span class=\"_ _0\"></span>st of the following<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f5\">\u2022 <span class=\"_ _19\"> </span>the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e period of the g<span class=\"_ _0\"></span>roup of contra<span class=\"_ _0\"></span>cts; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f6\">\u2022 <span class=\"_ _19\"> </span>the d<span class=\"_ _0\"></span>ate when the fir<span class=\"_ _0\"></span>st payment f<span class=\"_ _0\"></span>rom the polic<span class=\"_ _0\"></span>yholder in th<span class=\"_ _0\"></span>e group is due or a<span class=\"_ _0\"></span>ctually re<span class=\"_ _0\"></span>ceived if t<span class=\"_ _0\"></span>here is no due d<span class=\"_ _0\"></span>ate; or<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f7\">\u2022 <span class=\"_ _19\"> </span>for a gro<span class=\"_ _0\"></span>up of onerous c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, as s<span class=\"_ _0\"></span>oon as fac<span class=\"_ _0\"></span>ts and c<span class=\"_ _0\"></span>ircumsta<span class=\"_ _0\"></span>nces indi<span class=\"_ _0\"></span>cate that the g<span class=\"_ _0\"></span>roup is onero<span class=\"_ _0\"></span>us.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f8\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>th DPF are initiall<span class=\"_ _0\"></span>y recog<span class=\"_ _0\"></span>nised at th<span class=\"_ _0\"></span>e date when the G<span class=\"_ _0\"></span>roup bec<span class=\"_ _0\"></span>omes a par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5f9\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combinat<span class=\"_ _0\"></span>ion within the sc<span class=\"_ _0\"></span>ope of IFRS 3 B<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s Combina<span class=\"_ _0\"></span>tions or a por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer a<span class=\"_ _0\"></span>re accounte<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5fa\">for as if the<span class=\"_ _0\"></span>y w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>re entered into at the d<span class=\"_ _0\"></span>ate of acquisitio<span class=\"_ _0\"></span>n or transfe<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5fb\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed from the e<span class=\"_ _0\"></span>arliest of the fo<span class=\"_ _0\"></span>llowing:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5fc\">\u2022 <span class=\"_ _19\"> </span>the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e period of the g<span class=\"_ _0\"></span>roup of reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld. However, the Group d<span class=\"_ _0\"></span>elays the rec<span class=\"_ _0\"></span>ognition of a g<span class=\"_ _0\"></span>roup of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5fd\">reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held that p<span class=\"_ _0\"></span>rovide propor<span class=\"_ _0\"></span>tionate c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage (for exampl<span class=\"_ _0\"></span>e, through a q<span class=\"_ _0\"></span>uota share arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent) until the da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e w<span class=\"_ _0\"></span>hen any </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5fe\">under<span class=\"_ _0\"></span>lying insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act is initi<span class=\"_ _0\"></span>ally reco<span class=\"_ _0\"></span>gnised<span class=\"_ _0\"></span>, if that date is later t<span class=\"_ _0\"></span>han the be<span class=\"_ _0\"></span>ginning of the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage pe<span class=\"_ _0\"></span>riod of the gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17 ws18 gs5ff\">contr<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s held; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs600\">\u2022 <span class=\"_ _19\"> </span>the d<span class=\"_ _0\"></span>ate the Group rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>es an onero<span class=\"_ _0\"></span>us group of underl<span class=\"_ _0\"></span>ying insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts if th<span class=\"_ _0\"></span>e Group entere<span class=\"_ _0\"></span>d into the related re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs601\">held in t<span class=\"_ _0\"></span>he group of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held at or b<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>re that date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs602\">The Gro<span class=\"_ _0\"></span>up adds new c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts to the group in t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting per<span class=\"_ _0\"></span>iod in which tha<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>t meet<span class=\"_ _0\"></span>s one of the criteri<span class=\"_ _0\"></span>a set out ab<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs604\">Contract bound<span class=\"_ _2\"></span>aries<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs605\">The Gro<span class=\"_ _0\"></span>up include<span class=\"_ _0\"></span>s in the mea<span class=\"_ _0\"></span>surement of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts all the fut<span class=\"_ _0\"></span>ure cash fl<span class=\"_ _0\"></span>ows within the bo<span class=\"_ _0\"></span>undar<span class=\"_ _0\"></span>y of each co<span class=\"_ _0\"></span>ntract in th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs606\">group. C<span class=\"_ _0\"></span>ash flows are w<span class=\"_ _0\"></span>ithin the boun<span class=\"_ _0\"></span>dary of an in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t if they arise fro<span class=\"_ _0\"></span>m the rights a<span class=\"_ _0\"></span>nd obligati<span class=\"_ _0\"></span>ons that exis<span class=\"_ _0\"></span>t during the p<span class=\"_ _0\"></span>eriod in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs607\">which th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older is oblig<span class=\"_ _0\"></span>ated to pay prem<span class=\"_ _0\"></span>iums or the Gro<span class=\"_ _0\"></span>up has a subs<span class=\"_ _0\"></span>tantive oblig<span class=\"_ _0\"></span>ation to provide the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der with insur<span class=\"_ _0\"></span>ance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs608\">contr<span class=\"_ _0\"></span>act ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. A subs<span class=\"_ _0\"></span>tantive oblig<span class=\"_ _0\"></span>ation to provide ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es ends wh<span class=\"_ _0\"></span>en:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs609\">\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has the p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>al abilit<span class=\"_ _0\"></span>y to reprice th<span class=\"_ _0\"></span>e risks of the par<span class=\"_ _0\"></span>ticular p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der or chan<span class=\"_ _0\"></span>ge the level of be<span class=\"_ _0\"></span>nefits s<span class=\"_ _0\"></span>o that the pric<span class=\"_ _0\"></span>e fully </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs60a\">refle<span class=\"_ _0\"></span>cts tho<span class=\"_ _0\"></span>se risks; or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs60b\">\u2022 <span class=\"_ _19\"> </span>both of th<span class=\"_ _0\"></span>e following criter<span class=\"_ _0\"></span>ia are satisfi<span class=\"_ _0\"></span>ed:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs60c\">\u2013 <span class=\"_ _29\"> </span>the Gro<span class=\"_ _0\"></span>up has the pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>al ability to re<span class=\"_ _0\"></span>price the c<span class=\"_ _0\"></span>ontract o<span class=\"_ _0\"></span>r a port<span class=\"_ _0\"></span>folio of contra<span class=\"_ _0\"></span>cts s<span class=\"_ _0\"></span>o that the pric<span class=\"_ _0\"></span>e fully reflec<span class=\"_ _0\"></span>ts the re<span class=\"_ _0\"></span>asses<span class=\"_ _0\"></span>sed ri<span class=\"_ _0\"></span>sk of<span class=\"_ gs47\"> </span>that </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs60d\">por<span class=\"_ _0\"></span>tfolio; a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs60e\">\u2013 <span class=\"_ _29\"> </span>the pric<span class=\"_ _0\"></span>ing of premiums up to th<span class=\"_ _0\"></span>e date when risks a<span class=\"_ _0\"></span>re reass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d does not refl<span class=\"_ _0\"></span>ect the r<span class=\"_ _0\"></span>isks related to p<span class=\"_ _0\"></span>eriods beyo<span class=\"_ _0\"></span>nd the reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs60f\">Where a<span class=\"_ _0\"></span>n expec<span class=\"_ _0\"></span>ted premium or e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted claim is not w<span class=\"_ _0\"></span>ithin the contr<span class=\"_ _0\"></span>act boun<span class=\"_ _0\"></span>dar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, it is not re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a ca<span class=\"_ _0\"></span>sh flow of the contr<span class=\"_ _0\"></span>act an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs610\">is<span class=\"_ gs47\"> </span>ins<span class=\"_ _0\"></span>tead con<span class=\"_ _0\"></span>sidered to rel<span class=\"_ _0\"></span>ate to a future insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act and re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised whe<span class=\"_ _0\"></span>n those co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s meet the re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion criteria<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs611\">The c<span class=\"_ _0\"></span>ontract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date to inc<span class=\"_ _0\"></span>lude the ef<span class=\"_ _0\"></span>fect of cha<span class=\"_ _0\"></span>nges in circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces on the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s sub<span class=\"_ _0\"></span>stantive rig<span class=\"_ _0\"></span>hts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs612\">and ob<span class=\"_ _0\"></span>ligations an<span class=\"_ _0\"></span>d, therefore<span class=\"_ _0\"></span>, may chang<span class=\"_ _0\"></span>e over time.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs613\">The c<span class=\"_ _0\"></span>ontract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y for a reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract is de<span class=\"_ _0\"></span>pende<span class=\"_ _0\"></span>nt on the terms an<span class=\"_ _0\"></span>d condition<span class=\"_ _0\"></span>s of the reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act and t<span class=\"_ _0\"></span>herefore may not </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs614\">nec<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>arily be the s<span class=\"_ _0\"></span>ame as for the un<span class=\"_ _0\"></span>derlying c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. Wh<span class=\"_ _0\"></span>ere the reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract is op<span class=\"_ _0\"></span>en to new bus<span class=\"_ _0\"></span>iness on a<span class=\"_ _0\"></span>greed te<span class=\"_ _0\"></span>rms for a perio<span class=\"_ _0\"></span>d of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs615\">time, t<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>t bound<span class=\"_ _0\"></span>ary m<span class=\"_ _0\"></span>ay include es<span class=\"_ _0\"></span>timates of reins<span class=\"_ _0\"></span>urance on in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts that h<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ve n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t yet b<span class=\"_ _0\"></span>een is<span class=\"_ _0\"></span>sued or rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs616\">Measuremen<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs617\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d without dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatio<span class=\"_ _0\"></span>n features are gro<span class=\"_ _0\"></span>uped tog<span class=\"_ _0\"></span>ether und<span class=\"_ _0\"></span>er annuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, prote<span class=\"_ _0\"></span>ction an<span class=\"_ _0\"></span>d other </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs618\">non-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>enera<span class=\"_ _0\"></span>l Model (<span class=\"_ _0\"></span>\u2018GM<span class=\"_ _0\"></span>\u2019). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs619\">Direc<span class=\"_ _0\"></span>t par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s issu<span class=\"_ _0\"></span>ed by the Group a<span class=\"_ _0\"></span>re contrac<span class=\"_ _0\"></span>ts with DP<span class=\"_ _0\"></span>F where the Gro<span class=\"_ _0\"></span>up holds the p<span class=\"_ _0\"></span>ool of underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets. D<span class=\"_ _0\"></span>irect </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs61a\">par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are gro<span class=\"_ _0\"></span>uped tog<span class=\"_ _0\"></span>ether and re<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d primarily a<span class=\"_ _0\"></span>s either unit-linked or w<span class=\"_ _0\"></span>ith-profits b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s althoug<span class=\"_ _0\"></span>h some </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs61b\">protec<span class=\"_ _0\"></span>tion contra<span class=\"_ _0\"></span>cts are c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to have direct p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ation feature<span class=\"_ _0\"></span>s. Thes<span class=\"_ _0\"></span>e groups of contr<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d using the va<span class=\"_ _0\"></span>riable fee </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs61c\">appro<span class=\"_ _0\"></span>ach (\u2018<span class=\"_ _0\"></span>VF<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>), unles<span class=\"_ _0\"></span>s they fail the eli<span class=\"_ _0\"></span>gibility te<span class=\"_ _0\"></span>st to be trea<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under this a<span class=\"_ _0\"></span>pproach<span class=\"_ _0\"></span>, in such circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces they are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>M. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs61d\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der the GM irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the mea<span class=\"_ _0\"></span>surement m<span class=\"_ _0\"></span>odel use<span class=\"_ _0\"></span>d for the under<span class=\"_ _0\"></span>lying contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. Cer<span class=\"_ _0\"></span>tain </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs61e\">with-p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>ts funds wi<span class=\"_ _0\"></span>thin the Group h<span class=\"_ _0\"></span>old non-profit in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s such as an<span class=\"_ _0\"></span>nuities<span class=\"_ _0\"></span>. This busine<span class=\"_ _0\"></span>ss will als<span class=\"_ _0\"></span>o be meas<span class=\"_ _0\"></span>ured under th<span class=\"_ _0\"></span>e GM.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs61f\">Initial measurement<span class=\"_ _2\"></span> \u2013 Insurance contracts<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs620\">On initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition, th<span class=\"_ _0\"></span>e Group mea<span class=\"_ _0\"></span>sures a group of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s as the total of (a) the ful<span class=\"_ _0\"></span>filment cas<span class=\"_ _0\"></span>h flows and a risk a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tment for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs621\">non-<span class=\"_ _0\"></span>financial r<span class=\"_ _0\"></span>isk; and (<span class=\"_ _0\"></span>b<span class=\"_ _2\"></span>) th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>tual ser<span class=\"_ _0\"></span>vice m<span class=\"_ _0\"></span>argin (\u2018C<span class=\"_ _0\"></span>SM\u2019<span class=\"_ _0\"></span>). The fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows of a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts do n<span class=\"_ _0\"></span>ot reflec<span class=\"_ _0\"></span>t the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs622\">Group\u2019s non-p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance risk<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs623\">The f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows comp<span class=\"_ _0\"></span>rise:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs624\">\u2022 <span class=\"_ _19\"> </span>unbia<span class=\"_ _0\"></span>sed and p<span class=\"_ _0\"></span>robabilit<span class=\"_ _0\"></span>y-weig<span class=\"_ _0\"></span>hted estim<span class=\"_ _0\"></span>ates of future c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t are within the co<span class=\"_ _0\"></span>ntract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y plus an ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent to reflec<span class=\"_ _0\"></span>t the time </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs625\">value of mo<span class=\"_ _0\"></span>ney and the fin<span class=\"_ _0\"></span>ancial ris<span class=\"_ _0\"></span>ks related to fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s, to the ex<span class=\"_ _0\"></span>tent that th<span class=\"_ _0\"></span>e financial ri<span class=\"_ _0\"></span>sks are not inclu<span class=\"_ _0\"></span>ded in the es<span class=\"_ _0\"></span>timates of fut<span class=\"_ _0\"></span>ure </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs626\">ca<span class=\"_ _0\"></span>sh flows (\u2018<span class=\"_ _0\"></span>BEL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>); and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs627\">\u2022 <span class=\"_ _19\"> </span>a risk a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tment for non-<span class=\"_ _0\"></span>financial r<span class=\"_ _0\"></span>isk.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs628\">The m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of fulfilment c<span class=\"_ _0\"></span>ash flows inc<span class=\"_ _0\"></span>ludes insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows whic<span class=\"_ _0\"></span>h are alloca<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d as a por<span class=\"_ _0\"></span>tion of premium to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs629\">(through in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue) over the pe<span class=\"_ _0\"></span>riod of the contr<span class=\"_ _0\"></span>act in a sys<span class=\"_ _0\"></span>tematic an<span class=\"_ _0\"></span>d rational way b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e pass<span class=\"_ _0\"></span>age of time.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs62a\">The ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for non<span class=\"_ _0\"></span>-financi<span class=\"_ _0\"></span>al risk for a group of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, dete<span class=\"_ _0\"></span>rmined se<span class=\"_ _0\"></span>parately fro<span class=\"_ _0\"></span>m the other es<span class=\"_ _0\"></span>timates<span class=\"_ _0\"></span>, is the com<span class=\"_ _0\"></span>pensat<span class=\"_ _0\"></span>ion </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs62b\">require<span class=\"_ _0\"></span>d for bearin<span class=\"_ _0\"></span>g uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y about th<span class=\"_ _0\"></span>e amount an<span class=\"_ _0\"></span>d timing of the ca<span class=\"_ _0\"></span>sh flows that ar<span class=\"_ _0\"></span>ises from no<span class=\"_ _0\"></span>n-financi<span class=\"_ _0\"></span>al risk. Th<span class=\"_ _0\"></span>e Group applie<span class=\"_ _0\"></span>s a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs62c\">confid<span class=\"_ _0\"></span>ence level te<span class=\"_ _0\"></span>chnique. T<span class=\"_ _0\"></span>he risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt is alloca<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to groups of contr<span class=\"_ _0\"></span>acts b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n an analysis of th<span class=\"_ _0\"></span>e risk profiles of the g<span class=\"_ _0\"></span>roups, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs62d\">refle<span class=\"_ _0\"></span>cting the ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of the diversific<span class=\"_ _0\"></span>ation be<span class=\"_ _0\"></span>nefits be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n Group entitie<span class=\"_ _0\"></span>s to the extent t<span class=\"_ _0\"></span>hat the Group in<span class=\"_ _0\"></span>cludes it w<span class=\"_ _0\"></span>hen determinin<span class=\"_ _0\"></span>g the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs62e\">comp<span class=\"_ _0\"></span>ensatio<span class=\"_ _0\"></span>n required to b<span class=\"_ _0\"></span>ear that ris<span class=\"_ _0\"></span>k. The Gro<span class=\"_ _0\"></span>up includes d<span class=\"_ _0\"></span>iversifica<span class=\"_ _0\"></span>tion bet<span class=\"_ _0\"></span>ween Gro<span class=\"_ _0\"></span>up entities whic<span class=\"_ _0\"></span>h use the Group I<span class=\"_ _0\"></span>nternal Mo<span class=\"_ _0\"></span>del for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs62f\">man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt decision<span class=\"_ _0\"></span>-making<span class=\"_ _0\"></span>. Where a Stan<span class=\"_ _0\"></span>dard Formula a<span class=\"_ _0\"></span>pproach is us<span class=\"_ _0\"></span>ed, no d<span class=\"_ _0\"></span>iversific<span class=\"_ _0\"></span>ation with other e<span class=\"_ _0\"></span>ntities within th<span class=\"_ _0\"></span>e Group is allowe<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs630\">The Gro<span class=\"_ _0\"></span>up determine<span class=\"_ _0\"></span>s the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt using a one<span class=\"_ _0\"></span>-year time h<span class=\"_ _0\"></span>oriz<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>n, consi<span class=\"_ _0\"></span>stent with the t<span class=\"_ _0\"></span>ime horizon use<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r Solvenc<span class=\"_ _0\"></span>y II, a<span class=\"_ gs47\"> </span>key metr<span class=\"_ _0\"></span>ic </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs631\">under<span class=\"_ _0\"></span>lying how the G<span class=\"_ _0\"></span>roup is mana<span class=\"_ _0\"></span>ged.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs632\">The C<span class=\"_ _0\"></span>SM of a group of insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s represe<span class=\"_ _0\"></span>nts the une<span class=\"_ _0\"></span>arned profit th<span class=\"_ _0\"></span>at the Group will re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>se over the life of the contr<span class=\"_ _0\"></span>act as in<span class=\"_ _0\"></span>surance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs633\">and inves<span class=\"_ _0\"></span>tment-relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are provi<span class=\"_ _0\"></span>ded. For profit<span class=\"_ _0\"></span>able groups of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts the CS<span class=\"_ _0\"></span>M is est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>nsure that n<span class=\"_ _0\"></span>o profit or loss </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs634\">is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at inceptio<span class=\"_ _0\"></span>n and cons<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y it offse<span class=\"_ _0\"></span>ts the net p<span class=\"_ _0\"></span>resent value of th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted cas<span class=\"_ _0\"></span>h flows (includin<span class=\"_ _0\"></span>g initial prem<span class=\"_ _0\"></span>ium and insura<span class=\"_ _0\"></span>nce </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs635\">acq<span class=\"_ _0\"></span>uisition ca<span class=\"_ _0\"></span>sh flows) and the ri<span class=\"_ _0\"></span>sk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r a group of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at are onerou<span class=\"_ _0\"></span>s, the CS<span class=\"_ _0\"></span>M is set to nil an<span class=\"_ _0\"></span>d a loss is imm<span class=\"_ _0\"></span>ediately </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs636\">rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in profit or los<span class=\"_ _0\"></span>s. A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent of the liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e (\u2018LRC<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) is esta<span class=\"_ _0\"></span>blished for th<span class=\"_ _0\"></span>e amount of<span class=\"_ gs47\"> </span>los<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs637\">The init<span class=\"_ _0\"></span>ial reco<span class=\"_ _0\"></span>gnition of the CS<span class=\"_ _0\"></span>M is cons<span class=\"_ _0\"></span>istent for insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s applying th<span class=\"_ _0\"></span>e GM and VF<span class=\"_ _2\"></span>A m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent approa<span class=\"_ _0\"></span>ches<span class=\"_ _0\"></span>, however there a<span class=\"_ _0\"></span>re </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs638\">key differen<span class=\"_ _0\"></span>ces for subs<span class=\"_ _0\"></span>equent m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of the CS<span class=\"_ _0\"></span>M under the<span class=\"_ _0\"></span>se meas<span class=\"_ _0\"></span>urement mo<span class=\"_ _0\"></span>dels. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs639\">For group<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d in a transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s or a busin<span class=\"_ _0\"></span>ess com<span class=\"_ _0\"></span>bination, t<span class=\"_ _0\"></span>he consid<span class=\"_ _0\"></span>eration rec<span class=\"_ _0\"></span>eived for the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts is inclu<span class=\"_ _0\"></span>ded in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs63a\">the fulfi<span class=\"_ _0\"></span>lment cas<span class=\"_ _0\"></span>h flows as a prox<span class=\"_ _0\"></span>y for the premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d at the date of acq<span class=\"_ _0\"></span>uisition. In a b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinati<span class=\"_ _0\"></span>on, the co<span class=\"_ _0\"></span>nsiderat<span class=\"_ _0\"></span>ion receive<span class=\"_ _0\"></span>d is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs63b\">the fair va<span class=\"_ _0\"></span>lue of the contra<span class=\"_ _0\"></span>cts at th<span class=\"_ _0\"></span>at date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs63d\">With-profits es<span class=\"_ _0\"></span>tate<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs63e\">The Gro<span class=\"_ _0\"></span>up has a numb<span class=\"_ _0\"></span>er of with-profit<span class=\"_ _0\"></span>s funds whe<span class=\"_ _0\"></span>re surpluse<span class=\"_ _0\"></span>s are share<span class=\"_ _0\"></span>d betwe<span class=\"_ _0\"></span>en polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. All such f<span class=\"_ _0\"></span>unds are clo<span class=\"_ _0\"></span>sed to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs63f\">new bu<span class=\"_ _0\"></span>siness<span class=\"_ _0\"></span>. Thes<span class=\"_ _0\"></span>e funds t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y have an esta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>, being a sur<span class=\"_ _0\"></span>plus of asse<span class=\"_ _0\"></span>ts over thos<span class=\"_ _0\"></span>e neede<span class=\"_ _0\"></span>d to meet th<span class=\"_ _0\"></span>e liabilities of curre<span class=\"_ _0\"></span>nt policyh<span class=\"_ _0\"></span>olders<span class=\"_ _0\"></span>. As </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs640\">thes<span class=\"_ _0\"></span>e funds are cl<span class=\"_ _0\"></span>osed to new b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus is expe<span class=\"_ _0\"></span>cted to b<span class=\"_ _0\"></span>e distribute<span class=\"_ _0\"></span>d to existin<span class=\"_ _0\"></span>g policyho<span class=\"_ _0\"></span>lders over tim<span class=\"_ _0\"></span>e and the Gro<span class=\"_ _0\"></span>up has </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs641\">determin<span class=\"_ _0\"></span>ed it appro<span class=\"_ _0\"></span>priate to alloc<span class=\"_ _0\"></span>ate the expe<span class=\"_ _0\"></span>cted fut<span class=\"_ _0\"></span>ure policyh<span class=\"_ _0\"></span>older paym<span class=\"_ _0\"></span>ents from the e<span class=\"_ _0\"></span>state to sp<span class=\"_ _0\"></span>ecific gro<span class=\"_ _0\"></span>ups of contrac<span class=\"_ _0\"></span>ts within the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs642\">mea<span class=\"_ _0\"></span>surement of th<span class=\"_ _0\"></span>e best e<span class=\"_ _0\"></span>stimate ca<span class=\"_ _0\"></span>sh flows.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs643\">Subsequent measurement \u2013 Insurance con<span class=\"_ _2\"></span>tra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs644\">The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts at eac<span class=\"_ _0\"></span>h repor<span class=\"_ _0\"></span>ting date is the s<span class=\"_ _0\"></span>um o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e LRC and the lia<span class=\"_ _0\"></span>bility for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims (\u2018<span class=\"_ _0\"></span>LIC\u2019<span class=\"_ _0\"></span>). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs645\">The LRC c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the BEL, r<span class=\"_ _0\"></span>isk adjus<span class=\"_ _0\"></span>tment an<span class=\"_ _0\"></span>d any remaining C<span class=\"_ _0\"></span>SM at that d<span class=\"_ _0\"></span>ate. The LIC inc<span class=\"_ _0\"></span>ludes the B<span class=\"_ _0\"></span>EL and risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent (the fulfilment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs646\">ca<span class=\"_ _0\"></span>sh flows for incur<span class=\"_ _0\"></span>red claims an<span class=\"_ _0\"></span>d expens<span class=\"_ _0\"></span>es that have not yet b<span class=\"_ _0\"></span>een pai<span class=\"_ _0\"></span>d, includin<span class=\"_ _0\"></span>g claims tha<span class=\"_ _0\"></span>t have been in<span class=\"_ _0\"></span>curred but n<span class=\"_ _0\"></span>ot yet repor<span class=\"_ _0\"></span>ted). There is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs647\">no CS<span class=\"_ _0\"></span>M ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th the LIC, a<span class=\"_ _0\"></span>nd as a result<span class=\"_ _0\"></span>, any chang<span class=\"_ _0\"></span>es in the LIC a<span class=\"_ _0\"></span>re tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n directly to p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws34 gs648\">The f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows of groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at the rep<span class=\"_ _0\"></span>ortin<span class=\"_ _0\"></span>g date using curre<span class=\"_ _0\"></span>nt estimate<span class=\"_ _0\"></span>s of future ca<span class=\"_ _0\"></span>sh flows, c<span class=\"_ _0\"></span>urrent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs649\">disc<span class=\"_ _0\"></span>ount rates and c<span class=\"_ _0\"></span>urrent est<span class=\"_ _0\"></span>imates of the risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment for non-<span class=\"_ _0\"></span>financial ri<span class=\"_ _0\"></span>sk. Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s follows.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff3 fs6 fc3 sc0 ls1 ws1 gs64a\">Cha<span class=\"_ _0\"></span>nges re<span class=\"_ _0\"></span>lating to f<span class=\"_ _0\"></span>uture ins<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices<span class=\"_ _1a6\"> </span><span class=\"ff2\">Adj<span class=\"_ _0\"></span>usted a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he CSM (or re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs64b\">in profit or lo<span class=\"_ _0\"></span>ss if the gro<span class=\"_ _0\"></span>up is onerous)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff3 fs6 fc3 sc0 ls1 ws1 gs64c\">Cha<span class=\"_ _0\"></span>nges re<span class=\"_ _0\"></span>lating to c<span class=\"_ _0\"></span>urrent or p<span class=\"_ _0\"></span>ast se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es<span class=\"_ _188\"> </span><span class=\"ff2\">Reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice res<span class=\"_ _0\"></span>ult in profit or los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff3 fs6 fc3 sc0 ls1 ws1 gs64d\">Effe<span class=\"_ _0\"></span>cts of th<span class=\"_ _0\"></span>e time valu<span class=\"_ _0\"></span>e of money, finan<span class=\"_ _0\"></span>cial ris<span class=\"_ _0\"></span>k and ch<span class=\"_ _0\"></span>anges<span class=\"_ _159\"> </span><span class=\"ff2\">Re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in insura<span class=\"_ _0\"></span>nce finan<span class=\"_ _0\"></span>ce incom<span class=\"_ _0\"></span>e or expens<span class=\"_ _0\"></span>es therein o<span class=\"_ _0\"></span>n </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs64e\">es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs64f\">Where<span class=\"_ _0\"></span>, during the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage pe<span class=\"_ _0\"></span>riod, a gro<span class=\"_ _0\"></span>up of insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts be<span class=\"_ _0\"></span>comes on<span class=\"_ _0\"></span>erous<span class=\"_ _0\"></span>, the Group re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es a loss in profi<span class=\"_ _0\"></span>t or loss for th<span class=\"_ _0\"></span>e net </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs650\">out<span class=\"_ _0\"></span>flow, resultin<span class=\"_ _0\"></span>g in the carr<span class=\"_ _0\"></span>ying am<span class=\"_ _0\"></span>ount of the liabilit<span class=\"_ _0\"></span>y for the group b<span class=\"_ _0\"></span>eing eq<span class=\"_ _0\"></span>ual to the fulfilme<span class=\"_ _0\"></span>nt cash flow<span class=\"_ _0\"></span>s. A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d by </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs651\">the Gro<span class=\"_ _0\"></span>up for the liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e for such gro<span class=\"_ _0\"></span>ups of onerous c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s represe<span class=\"_ _0\"></span>nting the los<span class=\"_ _0\"></span>ses re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs652\">The b<span class=\"_ _0\"></span>alance on th<span class=\"_ _0\"></span>e CSM at th<span class=\"_ _0\"></span>e end of the pe<span class=\"_ _0\"></span>riod is available fo<span class=\"_ _0\"></span>r release to p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>. The amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>SM rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in insuran<span class=\"_ _0\"></span>ce revenue </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs653\">eac<span class=\"_ _0\"></span>h period (the C<span class=\"_ _0\"></span>SM amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion) is determine<span class=\"_ _0\"></span>d by conside<span class=\"_ _0\"></span>ring, for e<span class=\"_ _0\"></span>ach group of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, cover<span class=\"_ _0\"></span>age unit<span class=\"_ _0\"></span>s that reflec<span class=\"_ _0\"></span>t the quantit<span class=\"_ _0\"></span>y of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs654\">ben<span class=\"_ _0\"></span>efits provide<span class=\"_ _0\"></span>d in each p<span class=\"_ _0\"></span>eriod and th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted covera<span class=\"_ _0\"></span>ge perio<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs655\">Ben<span class=\"_ _0\"></span>efits provide<span class=\"_ _0\"></span>d include<span class=\"_ _0\"></span>d those ar<span class=\"_ _0\"></span>ising from both in<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>nd investme<span class=\"_ _0\"></span>nt related se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es. Inves<span class=\"_ _0\"></span>tment rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are on<span class=\"_ _0\"></span>ly include<span class=\"_ _0\"></span>d if </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs656\">the Gro<span class=\"_ _0\"></span>up is deem<span class=\"_ _0\"></span>ed to be providin<span class=\"_ _0\"></span>g a significant inve<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e when providin<span class=\"_ _0\"></span>g an inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt, or polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s right to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs657\">withdr<span class=\"_ _0\"></span>aw<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>at is expe<span class=\"_ _0\"></span>cted to incl<span class=\"_ _0\"></span>ude an investm<span class=\"_ _0\"></span>ent return ge<span class=\"_ _0\"></span>nerated by inves<span class=\"_ _0\"></span>tment ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y perfo<span class=\"_ _0\"></span>rmed by the G<span class=\"_ _0\"></span>roup. This incl<span class=\"_ _0\"></span>udes contr<span class=\"_ _0\"></span>acts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs658\">where t<span class=\"_ _0\"></span>he value of the inves<span class=\"_ _0\"></span>tment return th<span class=\"_ _0\"></span>at the polic<span class=\"_ _0\"></span>yholder b<span class=\"_ _0\"></span>enefits f<span class=\"_ _0\"></span>rom is not direc<span class=\"_ _0\"></span>tly related to th<span class=\"_ _0\"></span>e value of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs659\">Cover<span class=\"_ _0\"></span>age units a<span class=\"_ _0\"></span>re discounte<span class=\"_ _0\"></span>d and are update<span class=\"_ _0\"></span>d at each re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing date to reflec<span class=\"_ _0\"></span>t the current b<span class=\"_ _0\"></span>est es<span class=\"_ _0\"></span>timate of ser<span class=\"_ _0\"></span>vice exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>e provided in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs65a\">future p<span class=\"_ _0\"></span>eriods<span class=\"_ _0\"></span>. Covera<span class=\"_ _0\"></span>ge units for rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts held a<span class=\"_ _0\"></span>re typic<span class=\"_ _0\"></span>ally cons<span class=\"_ _0\"></span>istent with th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g gross co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, adj<span class=\"_ _0\"></span>usted for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs65b\">diffe<span class=\"_ _0\"></span>rences in th<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices provid<span class=\"_ _0\"></span>ed.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs65c\">The C<span class=\"_ _0\"></span>SM of each g<span class=\"_ _0\"></span>roup of contrac<span class=\"_ _0\"></span>ts is c<span class=\"_ _0\"></span>alculated at e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting d<span class=\"_ _0\"></span>ate as follows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs65d\">Insurance contracts measured under GM<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs65e\">For insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>M approac<span class=\"_ _0\"></span>h, the CS<span class=\"_ _0\"></span>M is adj<span class=\"_ _0\"></span>usted by app<span class=\"_ _0\"></span>lying locked-in di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>s, while th<span class=\"_ _0\"></span>e BEL and risk </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs65f\">adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nt are adjus<span class=\"_ _0\"></span>ted using c<span class=\"_ _0\"></span>urrent disco<span class=\"_ _0\"></span>unt rates.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs660\">The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of the C<span class=\"_ _0\"></span>SM at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amount a<span class=\"_ _0\"></span>t the star<span class=\"_ _0\"></span>t of the year, adjus<span class=\"_ _0\"></span>ted for<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs661\">\u2022 <span class=\"_ _19\"> </span>the C<span class=\"_ _0\"></span>SM of any new co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s that are add<span class=\"_ _0\"></span>ed to the group in t<span class=\"_ _0\"></span>he year;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs662\">\u2022 <span class=\"_ _19\"> </span>intere<span class=\"_ _0\"></span>st accre<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d on the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g amount of the CS<span class=\"_ _0\"></span>M during the ye<span class=\"_ _0\"></span>ar;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs663\">\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows that rel<span class=\"_ _0\"></span>ate to future ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, except to th<span class=\"_ _0\"></span>e extent th<span class=\"_ _0\"></span>at:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs664\">\u2013 <span class=\"_ _29\"> </span>any incre<span class=\"_ _0\"></span>ases in the f<span class=\"_ _0\"></span>ulfilment ca<span class=\"_ _0\"></span>sh flows exce<span class=\"_ _0\"></span>ed the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g amount of the CS<span class=\"_ _0\"></span>M, in w<span class=\"_ _0\"></span>hich cas<span class=\"_ _0\"></span>e the exces<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised as a l<span class=\"_ _0\"></span>oss in profit or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs665\">los<span class=\"_ _0\"></span>s and create<span class=\"_ _0\"></span>s a loss com<span class=\"_ _0\"></span>ponent<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs666\">\u2013 <span class=\"_ _29\"> </span>any dec<span class=\"_ _0\"></span>reases in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows are all<span class=\"_ _0\"></span>ocated to th<span class=\"_ _0\"></span>e loss co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>, reversing l<span class=\"_ _0\"></span>osses p<span class=\"_ _0\"></span>reviously re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in profit or lo<span class=\"_ _0\"></span>ss;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs667\">\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of any c<span class=\"_ _0\"></span>urrency exch<span class=\"_ _0\"></span>ange dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on the CS<span class=\"_ _0\"></span>M; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs668\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce revenue b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e of the ser<span class=\"_ _0\"></span>vices p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ded in the year (s<span class=\"_ _0\"></span>ee the \u2018<span class=\"_ _0\"></span>Insuran<span class=\"_ _0\"></span>ce revenue\u2019 a<span class=\"_ _0\"></span>ccounting p<span class=\"_ _0\"></span>olicy in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs669\">note C1 for f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r details).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs66a\">Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows relating to fu<span class=\"_ _0\"></span>ture ser<span class=\"_ _0\"></span>vice that a<span class=\"_ _0\"></span>djust t<span class=\"_ _0\"></span>he CSM c<span class=\"_ _0\"></span>omprise:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs66b\">\u2022 <span class=\"_ _19\"> </span>exp<span class=\"_ _0\"></span>erienc<span class=\"_ _0\"></span>e adjus<span class=\"_ _0\"></span>tments ar<span class=\"_ _0\"></span>ising from the dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d and the exp<span class=\"_ _0\"></span>ected a<span class=\"_ _0\"></span>mounts e<span class=\"_ _0\"></span>stimated at t<span class=\"_ _0\"></span>he begin<span class=\"_ _0\"></span>ning of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs66c\">peri<span class=\"_ _0\"></span>od, that re<span class=\"_ _0\"></span>late to future se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>, along with any a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ated acqui<span class=\"_ _0\"></span>sition cos<span class=\"_ _0\"></span>ts;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs66d\">\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in e<span class=\"_ _0\"></span>stimates of th<span class=\"_ _0\"></span>e present val<span class=\"_ _0\"></span>ue of future ca<span class=\"_ _0\"></span>sh flows in the BEL a<span class=\"_ _0\"></span>nd risk adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs66e\">\u2022 <span class=\"_ _19\"> </span>dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s betwe<span class=\"_ _0\"></span>en any investm<span class=\"_ _0\"></span>ent compo<span class=\"_ _0\"></span>nent expe<span class=\"_ _0\"></span>cted to be<span class=\"_ _0\"></span>come p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ya<span class=\"_ _0\"></span>ble in the per<span class=\"_ _0\"></span>iod and the a<span class=\"_ _0\"></span>ctual inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mponent th<span class=\"_ _0\"></span>at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs66f\">becom<span class=\"_ _0\"></span>es pay<span class=\"_ _2\"></span>able; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs670\">\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk tha<span class=\"_ _0\"></span>t relate to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs671\">The imp<span class=\"_ _0\"></span>act of disc<span class=\"_ _0\"></span>ounting the ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for bus<span class=\"_ _0\"></span>iness m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der GM is dis<span class=\"_ _0\"></span>aggre<span class=\"_ _0\"></span>gated an<span class=\"_ _0\"></span>d recogn<span class=\"_ _0\"></span>ised within N<span class=\"_ _0\"></span>et financ<span class=\"_ _0\"></span>e income or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs672\">expe<span class=\"_ _0\"></span>nses from in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts within the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs674\">Insurance contracts measured under VF<span class=\"_ _4\"></span>A model<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs675\">Life busine<span class=\"_ _0\"></span>ss is con<span class=\"_ _0\"></span>sidered to h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g features<span class=\"_ _0\"></span>, and is req<span class=\"_ _0\"></span>uired to be me<span class=\"_ _0\"></span>asured und<span class=\"_ _0\"></span>er the VF<span class=\"_ _2\"></span>A mo<span class=\"_ _0\"></span>del where<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs676\">\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al terms evide<span class=\"_ _0\"></span>nce that p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders par<span class=\"_ _0\"></span>ticipate in a p<span class=\"_ _0\"></span>ool of clearl<span class=\"_ _0\"></span>y identified un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>tems, for ex<span class=\"_ _0\"></span>ample unit-linked or with-<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs677\">profit<span class=\"_ _0\"></span>s funds;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs678\">\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders exp<span class=\"_ _0\"></span>ect to rec<span class=\"_ _0\"></span>eive a subs<span class=\"_ _0\"></span>tantial sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e returns on und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span>efined by the Gro<span class=\"_ _0\"></span>up as greater t<span class=\"_ _0\"></span>han 50% an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs679\">fur<span class=\"_ _0\"></span>ther qua<span class=\"_ _0\"></span>litative fac<span class=\"_ _0\"></span>tors are con<span class=\"_ _0\"></span>sidered wh<span class=\"_ _0\"></span>ere share of return<span class=\"_ _0\"></span>s is less th<span class=\"_ _0\"></span>an 50%); and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs67a\">\u2022 <span class=\"_ _19\"> </span>a sub<span class=\"_ _0\"></span>stantial p<span class=\"_ _0\"></span>ropor<span class=\"_ _0\"></span>tion of chang<span class=\"_ _0\"></span>es in amount<span class=\"_ _0\"></span>s payable to po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>rs varies wi<span class=\"_ _0\"></span>th returns on the un<span class=\"_ _0\"></span>derlyin<span class=\"_ _0\"></span>g items (where subs<span class=\"_ _0\"></span>tantial is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs67b\">define<span class=\"_ _0\"></span>d consis<span class=\"_ _0\"></span>tently with the p<span class=\"_ _0\"></span>oint above).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs67c\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s unit-linked an<span class=\"_ _0\"></span>d with-profits b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s that mee<span class=\"_ _0\"></span>ts the VF<span class=\"_ _2\"></span>A e<span class=\"_ _0\"></span>ligibilit<span class=\"_ _0\"></span>y criteria are dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts under whi<span class=\"_ _0\"></span>ch the Group\u2019s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs67d\">oblig<span class=\"_ _0\"></span>ation to the polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>r is the net of:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs67e\">\u2022 <span class=\"_ _19\"> </span>the o<span class=\"_ _0\"></span>bligation to pay th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older an am<span class=\"_ _0\"></span>ount equal to th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs67f\">\u2022 <span class=\"_ _19\"> </span>a varia<span class=\"_ _0\"></span>ble fee in excha<span class=\"_ _0\"></span>nge for fut<span class=\"_ _0\"></span>ure ser<span class=\"_ _0\"></span>vices provide<span class=\"_ _0\"></span>d by the contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, being t<span class=\"_ _0\"></span>he amount of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s sh<span class=\"_ _0\"></span>are of the fair value of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs680\">under<span class=\"_ _0\"></span>lying items le<span class=\"_ _0\"></span>ss fulfilm<span class=\"_ _0\"></span>ent cash flo<span class=\"_ _0\"></span>ws that do not var<span class=\"_ _0\"></span>y bas<span class=\"_ _0\"></span>ed on the ret<span class=\"_ _0\"></span>urns on under<span class=\"_ _0\"></span>lying items<span class=\"_ _0\"></span>. The Group p<span class=\"_ _0\"></span>rovides investm<span class=\"_ _0\"></span>ent ser<span class=\"_ _0\"></span>vices </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs681\">under t<span class=\"_ _0\"></span>hese co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s by giving a return b<span class=\"_ _0\"></span>ased on un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms, in a<span class=\"_ _0\"></span>ddition to insura<span class=\"_ _0\"></span>nce covera<span class=\"_ _0\"></span>ge.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs682\">For unit-linked and wi<span class=\"_ _0\"></span>th-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s that are me<span class=\"_ _0\"></span>asured und<span class=\"_ _0\"></span>er the VF<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>, interes<span class=\"_ _0\"></span>t is not acc<span class=\"_ _0\"></span>reted on the C<span class=\"_ _0\"></span>SM using a lo<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d-in disco<span class=\"_ _0\"></span>unt rate, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs683\">ins<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ad it is determ<span class=\"_ _0\"></span>ined with refere<span class=\"_ _0\"></span>nce to the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, refle<span class=\"_ _0\"></span>cting tha<span class=\"_ _0\"></span>t on these t<span class=\"_ _0\"></span>ypes of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts the Group fe<span class=\"_ _0\"></span>es for providing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs684\">investm<span class=\"_ _0\"></span>ent-related s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es are determin<span class=\"_ _0\"></span>ed with referen<span class=\"_ _0\"></span>ce to the value of th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with t<span class=\"_ _0\"></span>he policyh<span class=\"_ _0\"></span>older\u2019s polic<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. For examp<span class=\"_ _0\"></span>le, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs685\">annu<span class=\"_ _0\"></span>al manag<span class=\"_ _0\"></span>ement ch<span class=\"_ _0\"></span>arges (\u2018AMC<span class=\"_ _0\"></span>\u2019) are dete<span class=\"_ _0\"></span>rmined by referen<span class=\"_ _0\"></span>ce to the value of th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older\u2019s fund valu<span class=\"_ _0\"></span>e and the sha<span class=\"_ _0\"></span>reholder<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs686\">bon<span class=\"_ _0\"></span>uses on a with-<span class=\"_ _0\"></span>profits polic<span class=\"_ _0\"></span>y in a 90<span class=\"_ _0\"></span>:<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>0 fund is deter<span class=\"_ _0\"></span>mined ba<span class=\"_ _0\"></span>sed on the p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance of the wit<span class=\"_ _0\"></span>h-profits fun<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs687\">The var<span class=\"_ _0\"></span>iable fee ea<span class=\"_ _0\"></span>rned by the G<span class=\"_ _0\"></span>roup is cons<span class=\"_ _0\"></span>equently t<span class=\"_ _0\"></span>he Group\u2019s share of the fair va<span class=\"_ _0\"></span>lue of underlyin<span class=\"_ _0\"></span>g items les<span class=\"_ _0\"></span>s fulfilment c<span class=\"_ _0\"></span>ash flows th<span class=\"_ _0\"></span>at do not </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs688\">var<span class=\"_ _0\"></span>y base<span class=\"_ _0\"></span>d on returns of the un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs689\">For unit-linked contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s are funds th<span class=\"_ _0\"></span>at the unit price of th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>hosen by th<span class=\"_ _0\"></span>e policyho<span class=\"_ _0\"></span>lder varies w<span class=\"_ _0\"></span>ith.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs68a\">For with-p<span class=\"_ _0\"></span>rofits contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, the unde<span class=\"_ _0\"></span>rlying items a<span class=\"_ _0\"></span>re typic<span class=\"_ _0\"></span>ally the net a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s of the relevant with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>d, includin<span class=\"_ _0\"></span>g the est<span class=\"_ _0\"></span>ate and the fair </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs68b\">value<span class=\"_ gs47\"> </span>of no<span class=\"_ _0\"></span>n-profit contra<span class=\"_ _0\"></span>cts wit<span class=\"_ _0\"></span>hin the fund. W<span class=\"_ _0\"></span>ith-profit fun<span class=\"_ _0\"></span>ds can var<span class=\"_ _0\"></span>y in their na<span class=\"_ _0\"></span>ture and ope<span class=\"_ _0\"></span>ration, th<span class=\"_ _0\"></span>erefore will be dep<span class=\"_ _0\"></span>endent on f<span class=\"_ _0\"></span>acts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs68c\">and<span class=\"_ gs47\"> </span>circ<span class=\"_ _0\"></span>umsta<span class=\"_ _0\"></span>nces<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs68d\">When m<span class=\"_ _0\"></span>easurin<span class=\"_ _0\"></span>g a group of unit-linked and with<span class=\"_ _0\"></span>-profits cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s using the VFA, th<span class=\"_ _0\"></span>e Group adj<span class=\"_ _0\"></span>usts th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows for the w<span class=\"_ _0\"></span>hole of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs68e\">chan<span class=\"_ _0\"></span>ges in the o<span class=\"_ _0\"></span>bligation to pay p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders an am<span class=\"_ _0\"></span>ount equal to th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms. The<span class=\"_ _0\"></span>se chan<span class=\"_ _0\"></span>ges do not re<span class=\"_ _0\"></span>late to future </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs68f\">ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and are reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in profit or loss<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up then adj<span class=\"_ _0\"></span>usts any C<span class=\"_ _0\"></span>SM for cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e amount of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s share of th<span class=\"_ _0\"></span>e fair value of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs690\">the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, which re<span class=\"_ _0\"></span>late to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es, as ex<span class=\"_ _0\"></span>plained b<span class=\"_ _0\"></span>elow.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs691\">The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of the C<span class=\"_ _0\"></span>SM at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amount a<span class=\"_ _0\"></span>t the star<span class=\"_ _0\"></span>t of the year, adjus<span class=\"_ _0\"></span>ted for<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs692\">\u2022 <span class=\"_ _19\"> </span>the C<span class=\"_ _0\"></span>SM of any new co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s that are add<span class=\"_ _0\"></span>ed to the group in t<span class=\"_ _0\"></span>he year;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs693\">\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>hange in th<span class=\"_ _0\"></span>e amount of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms and cha<span class=\"_ _0\"></span>nges in fulfilm<span class=\"_ _0\"></span>ent cas<span class=\"_ _0\"></span>h flows that rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e to f<span class=\"_ _0\"></span>uture </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs694\">ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, except to th<span class=\"_ _0\"></span>e extent th<span class=\"_ _0\"></span>at:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs695\">\u2013 <span class=\"_ _29\"> </span>the Gro<span class=\"_ _0\"></span>up has applie<span class=\"_ _0\"></span>d the risk miti<span class=\"_ _0\"></span>gation option to exc<span class=\"_ _0\"></span>lude from the C<span class=\"_ _0\"></span>SM chan<span class=\"_ _0\"></span>ges in the ef<span class=\"_ _0\"></span>fect of fin<span class=\"_ _0\"></span>ancial risk o<span class=\"_ _0\"></span>n the amount of it<span class=\"_ _0\"></span>s share of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs696\">the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s or fulfilment c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs697\">\u2013 <span class=\"_ _29\"> </span>a dec<span class=\"_ _0\"></span>rease in the a<span class=\"_ _0\"></span>mount of the Group\u2019s share of th<span class=\"_ _0\"></span>e fair value of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, or an in<span class=\"_ _0\"></span>crease in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t relate to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs698\">future s<span class=\"_ _0\"></span>erv<span class=\"_ _0\"></span>ices<span class=\"_ _0\"></span>, exceeds t<span class=\"_ _0\"></span>he carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unt of the CSM<span class=\"_ _0\"></span>, givin<span class=\"_ _0\"></span>g rise to a loss in p<span class=\"_ _0\"></span>rofit or loss (in<span class=\"_ _0\"></span>cluded in in<span class=\"_ _0\"></span>surance s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce expen<span class=\"_ _0\"></span>ses) and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs699\">creat<span class=\"_ _0\"></span>ing a loss c<span class=\"_ _0\"></span>omponent<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs69a\">\u2013 <span class=\"_ _29\"> </span>an incre<span class=\"_ _0\"></span>ase in the am<span class=\"_ _0\"></span>ount of the Group\u2019s share of the f<span class=\"_ _0\"></span>air value of the unde<span class=\"_ _0\"></span>rlying item<span class=\"_ _0\"></span>s, or a de<span class=\"_ _0\"></span>crease in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t relate to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs69b\">future s<span class=\"_ _0\"></span>erv<span class=\"_ _0\"></span>ices<span class=\"_ _0\"></span>, is allocate<span class=\"_ _0\"></span>d to the loss c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt, reversin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s previousl<span class=\"_ _0\"></span>y recog<span class=\"_ _0\"></span>nised in profit o<span class=\"_ _0\"></span>r loss (incl<span class=\"_ _0\"></span>uded in ins<span class=\"_ _0\"></span>urance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls12 ws13 gs69c\">service expenses);<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs69d\">\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of any c<span class=\"_ _0\"></span>urrency exch<span class=\"_ _0\"></span>ange dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on the CS<span class=\"_ _0\"></span>M; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs69e\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce revenue b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e of the ser<span class=\"_ _0\"></span>vices p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ded in the year (s<span class=\"_ _0\"></span>ee the \u2018<span class=\"_ _0\"></span>Insuran<span class=\"_ _0\"></span>ce revenue\u2019 a<span class=\"_ _0\"></span>ccounting p<span class=\"_ _0\"></span>olicy in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs69f\">note C1 for f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r details).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a0\">Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows that relate to fu<span class=\"_ _0\"></span>ture ser<span class=\"_ _0\"></span>vice incl<span class=\"_ _0\"></span>ude the chan<span class=\"_ _0\"></span>ges rela<span class=\"_ _0\"></span>ting to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es spec<span class=\"_ _0\"></span>ified above for c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a1\">direc<span class=\"_ _0\"></span>t part<span class=\"_ _0\"></span>icipation feat<span class=\"_ _0\"></span>ures (measure<span class=\"_ _0\"></span>d at current dis<span class=\"_ _0\"></span>count rates) an<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es in the effe<span class=\"_ _0\"></span>ct of the time va<span class=\"_ _0\"></span>lue of money an<span class=\"_ _0\"></span>d financial ri<span class=\"_ _0\"></span>sks that do </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a2\">not aris<span class=\"_ _0\"></span>e from underl<span class=\"_ _0\"></span>ying items<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a3\">The Gro<span class=\"_ _0\"></span>up does not c<span class=\"_ _0\"></span>urrently appl<span class=\"_ _0\"></span>y the risk mitig<span class=\"_ _0\"></span>ation option to any m<span class=\"_ _0\"></span>aterial ex<span class=\"_ _0\"></span>tent. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs6a4\">Loss component<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a5\">A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent represe<span class=\"_ _0\"></span>nts a notion<span class=\"_ _0\"></span>al record of th<span class=\"_ _0\"></span>e losse<span class=\"_ _0\"></span>s attribu<span class=\"_ _0\"></span>table to ea<span class=\"_ _0\"></span>ch group of onero<span class=\"_ _0\"></span>us insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. The los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a6\">rele<span class=\"_ _0\"></span>ased ba<span class=\"_ _0\"></span>sed on a sy<span class=\"_ _0\"></span>stematic a<span class=\"_ _0\"></span>llocation of th<span class=\"_ _0\"></span>e subseq<span class=\"_ _0\"></span>uent chan<span class=\"_ _0\"></span>ges relatin<span class=\"_ _0\"></span>g to future se<span class=\"_ _0\"></span>rvice in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows to (i) the l<span class=\"_ _0\"></span>oss </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a7\">comp<span class=\"_ _0\"></span>onent<span class=\"_ _0\"></span>; and (ii) the liabilit<span class=\"_ _0\"></span>y for rema<span class=\"_ _0\"></span>ining covera<span class=\"_ _0\"></span>ge excluding th<span class=\"_ _0\"></span>e loss co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>. The los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is also up<span class=\"_ _0\"></span>dated for subs<span class=\"_ _0\"></span>equent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a8\">chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates of the f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows and th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment rel<span class=\"_ _0\"></span>ating to future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e. The sys<span class=\"_ _0\"></span>tematic all<span class=\"_ _0\"></span>ocation of sub<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nt </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6a9\">chan<span class=\"_ _0\"></span>ges to the lo<span class=\"_ _0\"></span>ss comp<span class=\"_ _0\"></span>onent res<span class=\"_ _0\"></span>ults in the total a<span class=\"_ _0\"></span>mounts allo<span class=\"_ _0\"></span>cated to th<span class=\"_ _0\"></span>e loss com<span class=\"_ _0\"></span>ponent b<span class=\"_ _0\"></span>eing equa<span class=\"_ _0\"></span>l to z<span class=\"_ _2\"></span>ero by th<span class=\"_ _0\"></span>e end of the cover<span class=\"_ _0\"></span>age </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6aa\">peri<span class=\"_ _0\"></span>od of a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up uses cover<span class=\"_ _0\"></span>age units a<span class=\"_ _0\"></span>s the metho<span class=\"_ _0\"></span>d of system<span class=\"_ _0\"></span>atic alloc<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs6ac\">Reinsu<span class=\"_ _2\"></span>rance contracts h<span class=\"_ _2\"></span>eld \u2013 measu<span class=\"_ _2\"></span>rement<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6ad\">The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is the s<span class=\"_ _0\"></span>um of the ass<span class=\"_ _0\"></span>et/liabilit<span class=\"_ _0\"></span>y for rem<span class=\"_ _0\"></span>aining covera<span class=\"_ _0\"></span>ge and the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6ae\">as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility for in<span class=\"_ _0\"></span>curred claim<span class=\"_ _0\"></span>s. The a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverage c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>a) th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows that re<span class=\"_ _0\"></span>late to ser<span class=\"_ _0\"></span>vices th<span class=\"_ _0\"></span>at will </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6af\">be re<span class=\"_ _0\"></span>ceived und<span class=\"_ _0\"></span>er the contr<span class=\"_ _0\"></span>acts in f<span class=\"_ _0\"></span>uture perio<span class=\"_ _0\"></span>ds and (b) any remain<span class=\"_ _0\"></span>ing CSM at t<span class=\"_ _0\"></span>hat date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b0\">The m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts he<span class=\"_ _0\"></span>ld at initial rec<span class=\"_ _0\"></span>ognition fo<span class=\"_ _0\"></span>llows the sam<span class=\"_ _0\"></span>e principle<span class=\"_ _0\"></span>s as those for in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts iss<span class=\"_ _0\"></span>ued, with t<span class=\"_ _0\"></span>he </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b1\">excepti<span class=\"_ _0\"></span>on of the following:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b2\">\u2022 <span class=\"_ _19\"> </span>me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>s an allowance o<span class=\"_ _0\"></span>n a probabilit<span class=\"_ _0\"></span>y-wei<span class=\"_ _0\"></span>ghted basis fo<span class=\"_ _0\"></span>r the effec<span class=\"_ _0\"></span>t of any non-pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce by the reins<span class=\"_ _0\"></span>urers<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b3\">inclu<span class=\"_ _0\"></span>ding the ef<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>cts of co<span class=\"_ _0\"></span>llateral.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b4\">\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>sk adjus<span class=\"_ _0\"></span>tment for no<span class=\"_ _0\"></span>n-financ<span class=\"_ _0\"></span>ial risk is determ<span class=\"_ _0\"></span>ined so th<span class=\"_ _0\"></span>at it represe<span class=\"_ _0\"></span>nts the am<span class=\"_ _0\"></span>ount of risk bein<span class=\"_ _0\"></span>g transferre<span class=\"_ _0\"></span>d to the reins<span class=\"_ _0\"></span>urer and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b5\">\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup reco<span class=\"_ _0\"></span>gnises b<span class=\"_ _0\"></span>oth gains and l<span class=\"_ _0\"></span>osse<span class=\"_ _0\"></span>s at initial rec<span class=\"_ _0\"></span>ognition in th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated financ<span class=\"_ _0\"></span>ial positi<span class=\"_ _0\"></span>on as CSM a<span class=\"_ _0\"></span>nd releas<span class=\"_ _0\"></span>es this to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b6\">profit or lo<span class=\"_ _0\"></span>ss as the rein<span class=\"_ _0\"></span>surer rend<span class=\"_ _0\"></span>ers ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>, except for a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y p<span class=\"_ _0\"></span>ortio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f a lo<span class=\"_ _0\"></span>ss that rel<span class=\"_ _0\"></span>ates to events before in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>. Where the Gro<span class=\"_ _0\"></span>up </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b7\">rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s a loss on initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition of an onero<span class=\"_ _0\"></span>us group of unde<span class=\"_ _0\"></span>rlying contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, it es<span class=\"_ _0\"></span>tablishe<span class=\"_ _0\"></span>s a loss-<span class=\"_ _0\"></span>recover<span class=\"_ _0\"></span>y compo<span class=\"_ _0\"></span>nent of the as<span class=\"_ _0\"></span>set for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b8\">remain<span class=\"_ _0\"></span>ing coverag<span class=\"_ _0\"></span>e depictin<span class=\"_ _0\"></span>g the recove<span class=\"_ _0\"></span>ry of los<span class=\"_ _0\"></span>ses rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6b9\">\u2022 <span class=\"_ _19\"> </span>rein<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are n<span class=\"_ _0\"></span>ot eligible to app<span class=\"_ _0\"></span>ly the VF<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6ba\">T<span class=\"_ _2\"></span>o determin<span class=\"_ _0\"></span>e the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt for reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts h<span class=\"_ _0\"></span>eld, the Gro<span class=\"_ _0\"></span>up will apply th<span class=\"_ _0\"></span>e approach s<span class=\"_ _0\"></span>et out above for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s both </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6bb\">gros<span class=\"_ _0\"></span>s and net of reins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d determine th<span class=\"_ _0\"></span>e amount of risk b<span class=\"_ _0\"></span>eing trans<span class=\"_ _0\"></span>ferred to the re<span class=\"_ _0\"></span>insurer as th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween the t<span class=\"_ _0\"></span>wo result<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6bc\">The lo<span class=\"_ _0\"></span>ss-re<span class=\"_ _0\"></span>covery c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt determines t<span class=\"_ _0\"></span>he amount<span class=\"_ _0\"></span>s that are subs<span class=\"_ _0\"></span>equently p<span class=\"_ _0\"></span>resente<span class=\"_ _0\"></span>d in profit or loss a<span class=\"_ _0\"></span>s reversals of re<span class=\"_ _0\"></span>coveries of los<span class=\"_ _0\"></span>ses from </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6bd\">reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s and are exclud<span class=\"_ _0\"></span>ed from the allo<span class=\"_ _0\"></span>cation of rein<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>remiums paid<span class=\"_ _0\"></span>. It is adj<span class=\"_ _0\"></span>usted to refle<span class=\"_ _0\"></span>ct chan<span class=\"_ _0\"></span>ges in the l<span class=\"_ _0\"></span>oss comp<span class=\"_ _0\"></span>onent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6be\">of the one<span class=\"_ _0\"></span>rous group of und<span class=\"_ _0\"></span>erlying co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, but it c<span class=\"_ _0\"></span>annot exce<span class=\"_ _0\"></span>ed the p<span class=\"_ _0\"></span>ortion of th<span class=\"_ _0\"></span>e loss com<span class=\"_ _0\"></span>ponent of the o<span class=\"_ _0\"></span>nerous gro<span class=\"_ _0\"></span>up of underlying </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6bf\">contr<span class=\"_ _0\"></span>acts th<span class=\"_ _0\"></span>at the Group ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>s to recover from th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c0\">The Gro<span class=\"_ _0\"></span>up adjus<span class=\"_ _0\"></span>ts the C<span class=\"_ _0\"></span>SM of the group to w<span class=\"_ _0\"></span>hich a reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act be<span class=\"_ _0\"></span>longs an<span class=\"_ _0\"></span>d as a result re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es incom<span class=\"_ _0\"></span>e when it rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s a loss on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c1\">initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion of onerous un<span class=\"_ _0\"></span>derlying c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, if th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct is entere<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>efore or at the sa<span class=\"_ _0\"></span>me time as the o<span class=\"_ _0\"></span>nerous </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c2\">under<span class=\"_ _0\"></span>lying contr<span class=\"_ _0\"></span>acts are re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised. Th<span class=\"_ _0\"></span>e adjus<span class=\"_ _0\"></span>tment to the C<span class=\"_ _0\"></span>SM is determ<span class=\"_ _0\"></span>ined by multip<span class=\"_ _0\"></span>lying:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c3\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount of the los<span class=\"_ _0\"></span>s that relate<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c4\">\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>ercenta<span class=\"_ _0\"></span>ge of claims on t<span class=\"_ _0\"></span>he underly<span class=\"_ _0\"></span>ing contra<span class=\"_ _0\"></span>cts that t<span class=\"_ _0\"></span>he Group exp<span class=\"_ _0\"></span>ects to re<span class=\"_ _0\"></span>cover from the re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c5\">The s<span class=\"_ _0\"></span>ubseque<span class=\"_ _0\"></span>nt measure<span class=\"_ _0\"></span>ment of reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld follows th<span class=\"_ _0\"></span>e same prin<span class=\"_ _0\"></span>ciples as th<span class=\"_ _0\"></span>ose for insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts i<span class=\"_ _0\"></span>ssued<span class=\"_ _0\"></span>, with the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c6\">excepti<span class=\"_ _0\"></span>on of the following:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c7\">\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in profit or los<span class=\"_ _0\"></span>s if the relate<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es arising fro<span class=\"_ _0\"></span>m the underl<span class=\"_ _0\"></span>ying cede<span class=\"_ _0\"></span>d contra<span class=\"_ _0\"></span>cts have </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c8\">be<span class=\"_ _0\"></span>en reco<span class=\"_ _0\"></span>gnised in profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>. Alternative<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>, cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows ad<span class=\"_ _0\"></span>just the C<span class=\"_ _0\"></span>SM; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6c9\">\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t result from ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk of non-pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce by the is<span class=\"_ _0\"></span>suer of a reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract he<span class=\"_ _0\"></span>ld do not </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6ca\">adj<span class=\"_ _0\"></span>ust the C<span class=\"_ _0\"></span>SM as they d<span class=\"_ _0\"></span>o not relate to future s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce. The ef<span class=\"_ _0\"></span>fect of the n<span class=\"_ _0\"></span>on-per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e risk of the reins<span class=\"_ _0\"></span>urer is ass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d at each re<span class=\"_ _0\"></span>portin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6cb\">date and t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>t of chang<span class=\"_ _0\"></span>es in the non-p<span class=\"_ _0\"></span>erfor<span class=\"_ _0\"></span>mance ris<span class=\"_ _0\"></span>k is recog<span class=\"_ _0\"></span>nised in profit o<span class=\"_ _0\"></span>r loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs6cc\">Modificati<span class=\"_ _2\"></span>on and derecogni<span class=\"_ _2\"></span>tion<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6cd\">The Gro<span class=\"_ _0\"></span>up derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e and reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s when: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6ce\">\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts and ob<span class=\"_ _0\"></span>ligations re<span class=\"_ _0\"></span>lating to the co<span class=\"_ _0\"></span>ntract are ex<span class=\"_ _0\"></span>ting<span class=\"_ _0\"></span>uished (i.e<span class=\"_ _0\"></span>. discharg<span class=\"_ _0\"></span>ed, c<span class=\"_ _0\"></span>ancelle<span class=\"_ _0\"></span>d or expired)<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6cf\">\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t is modified s<span class=\"_ _0\"></span>uch that th<span class=\"_ _0\"></span>e modificat<span class=\"_ _0\"></span>ion result<span class=\"_ _0\"></span>s in a change in t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement mo<span class=\"_ _0\"></span>del, or the a<span class=\"_ _0\"></span>pplicabl<span class=\"_ _0\"></span>e stand<span class=\"_ _0\"></span>ard for meas<span class=\"_ _0\"></span>uring a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d0\">comp<span class=\"_ _0\"></span>onent of the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>. In such c<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>, the Group de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nises the ini<span class=\"_ _0\"></span>tial contra<span class=\"_ _0\"></span>ct and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es the modifi<span class=\"_ _0\"></span>ed contra<span class=\"_ _0\"></span>ct as a new c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs6d1\">Disclosur<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> gro<span class=\"_ _0\"></span>ups<span class=\"_ _2\"></span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d2\">The Gro<span class=\"_ _0\"></span>up disag<span class=\"_ _0\"></span>gregate<span class=\"_ _0\"></span>s in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation for the p<span class=\"_ _0\"></span>urposes of m<span class=\"_ _0\"></span>aking the disc<span class=\"_ _0\"></span>losures re<span class=\"_ _0\"></span>quired by IFR<span class=\"_ _0\"></span>S 17 int<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e following disc<span class=\"_ _0\"></span>losure group<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d3\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Retir<span class=\"_ _2\"></span>ement Solutions;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d4\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ns &amp; Savings;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d5\">\u2022 <span class=\"_ _19\"> </span>With<span class=\"_ _0\"></span>-Profits; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d6\">\u2022 <span class=\"_ _19\"> </span>Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d7\">The dis<span class=\"_ _0\"></span>closure gro<span class=\"_ _0\"></span>ups are aligne<span class=\"_ _0\"></span>d to the seg<span class=\"_ _0\"></span>ments us<span class=\"_ _0\"></span>ed for se<span class=\"_ _0\"></span>gmental re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting in note B1.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs7e8\">Defined<span class=\"_ _2\"></span> contributi<span class=\"_ _2\"></span>on pension<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e9\">Oblig<span class=\"_ _0\"></span>ations for co<span class=\"_ _0\"></span>ntributions to de<span class=\"_ _0\"></span>fined contrib<span class=\"_ _0\"></span>ution pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes are rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed as an exp<span class=\"_ _0\"></span>ense in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ea\">st<span class=\"_ _0\"></span>atement as in<span class=\"_ _0\"></span>curred.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs7eb\">Defined benefit<span class=\"_ _2\"></span> pension schemes<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ec\">The n<span class=\"_ _0\"></span>et surplus or defi<span class=\"_ _0\"></span>cit (the econ<span class=\"_ _0\"></span>omic surplus o<span class=\"_ _0\"></span>r deficit) in res<span class=\"_ _0\"></span>pect of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes is c<span class=\"_ _0\"></span>alculated by e<span class=\"_ _0\"></span>stimating t<span class=\"_ _0\"></span>he<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ed\">amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>uture bene<span class=\"_ _0\"></span>fit that employe<span class=\"_ _0\"></span>es have earn<span class=\"_ _0\"></span>ed in return for the<span class=\"_ _0\"></span>ir ser<span class=\"_ _0\"></span>vice in the curre<span class=\"_ _0\"></span>nt and prior yea<span class=\"_ _0\"></span>rs; that b<span class=\"_ _0\"></span>enefit is dis<span class=\"_ _0\"></span>counted to<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ee\">determin<span class=\"_ _0\"></span>e its pres<span class=\"_ _0\"></span>ent value and t<span class=\"_ _0\"></span>he fair value of any sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>sets is de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d. The Gro<span class=\"_ _0\"></span>up recogn<span class=\"_ _0\"></span>ises a pen<span class=\"_ _0\"></span>sion surplu<span class=\"_ _0\"></span>s on the basis th<span class=\"_ _0\"></span>at it is<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ef\">entitle<span class=\"_ _0\"></span>d to the surplu<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>ach sch<span class=\"_ _0\"></span>eme in the event of a gr<span class=\"_ _0\"></span>adual set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent of the liabilitie<span class=\"_ _0\"></span>s, due to it<span class=\"_ _0\"></span>s ability to o<span class=\"_ _0\"></span>rder a winding up of th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f0\">The e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus or defic<span class=\"_ _0\"></span>it is subse<span class=\"_ _0\"></span>quently ad<span class=\"_ _0\"></span>justed to e<span class=\"_ _0\"></span>liminate on con<span class=\"_ _0\"></span>solidation th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of ins<span class=\"_ _0\"></span>urance p<span class=\"_ _0\"></span>olicies is<span class=\"_ _0\"></span>sued by Gro<span class=\"_ _0\"></span>up<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a8\">entitie<span class=\"_ _0\"></span>s to the define<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes (the re<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d surplus or d<span class=\"_ _0\"></span>eficit). A corres<span class=\"_ _0\"></span>ponding a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment is mad<span class=\"_ _0\"></span>e to the carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>es of<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f1\">insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act liabili<span class=\"_ _0\"></span>ties and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f3\">The Gro<span class=\"_ _0\"></span>up determine<span class=\"_ _0\"></span>s the net interes<span class=\"_ _0\"></span>t expen<span class=\"_ _0\"></span>se or incom<span class=\"_ _0\"></span>e on the net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability for t<span class=\"_ _0\"></span>he period by a<span class=\"_ _0\"></span>pplying the d<span class=\"_ _0\"></span>iscount rate </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f4\">use<span class=\"_ _0\"></span>d to measure th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation at the b<span class=\"_ _0\"></span>eginning of th<span class=\"_ _0\"></span>e annual pe<span class=\"_ _0\"></span>riod to the op<span class=\"_ _0\"></span>ening net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f5\">disc<span class=\"_ _0\"></span>ount rate is the yie<span class=\"_ _0\"></span>ld at the peri<span class=\"_ _0\"></span>od end on A<span class=\"_ _0\"></span>A credit r<span class=\"_ _0\"></span>ated bond<span class=\"_ _0\"></span>s that have maturi<span class=\"_ _0\"></span>ty dates a<span class=\"_ _0\"></span>pproximating to th<span class=\"_ _0\"></span>e terms of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f6\">oblig<span class=\"_ _0\"></span>ations. T<span class=\"_ _0\"></span>he calc<span class=\"_ _0\"></span>ulation is per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d by a qualified a<span class=\"_ _0\"></span>ctuar<span class=\"_ _0\"></span>y using th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>ted unit cre<span class=\"_ _0\"></span>dit metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f7\">The m<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>ment in the net p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y is analys<span class=\"_ _0\"></span>ed bet<span class=\"_ _0\"></span>ween the s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>, past s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce cost<span class=\"_ _0\"></span>, cur<span class=\"_ _0\"></span>tailment<span class=\"_ _0\"></span>s and set<span class=\"_ _0\"></span>tlement<span class=\"_ _0\"></span>s (all </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f8\">rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>trative exp<span class=\"_ _0\"></span>enses in th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent), the ne<span class=\"_ _0\"></span>t interest co<span class=\"_ _0\"></span>st on the ne<span class=\"_ _0\"></span>t pension s<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7f9\">inclu<span class=\"_ _0\"></span>ding any reimbur<span class=\"_ _0\"></span>sement a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt), remea<span class=\"_ _0\"></span>surement<span class=\"_ _0\"></span>s of the net </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7fa\">pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>et/liabili<span class=\"_ _0\"></span>ty (reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in o<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome) and emp<span class=\"_ _0\"></span>loyer contribu<span class=\"_ _0\"></span>tions.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7fb\">The lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y swaps an<span class=\"_ _0\"></span>d quota sha<span class=\"_ _0\"></span>re reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me buy-in<span class=\"_ _0\"></span>s are treated as re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7fc\">and are re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at fair val<span class=\"_ _0\"></span>ue.<span class=\"_ _3bd\"> </span></div>Goodwill<span class=\"_ _3bd\"> </span>Busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbinations are a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for by applying t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion metho<span class=\"_ _0\"></span>d. Good<span class=\"_ _0\"></span>will represe<span class=\"_ _0\"></span>nts the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the cos<span class=\"_ _0\"></span>t of the<span class=\"_ _3bd\"> </span> acq<span class=\"_ _0\"></span>uisition and th<span class=\"_ _0\"></span>e fair value of the ne<span class=\"_ _0\"></span>t identifiabl<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at cos<span class=\"_ _0\"></span>t. Following ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, g<span class=\"_ _0\"></span>oodwill is s<span class=\"_ _0\"></span>tated at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s any accum<span class=\"_ _0\"></span>ulated impair<span class=\"_ _0\"></span>ment loss<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span> Goo<span class=\"_ _0\"></span>dwill is not amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d but is tes<span class=\"_ _0\"></span>ted for impairm<span class=\"_ _0\"></span>ent annuall<span class=\"_ _0\"></span>y or when the<span class=\"_ _0\"></span>re is evidenc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ossible im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>. For impairme<span class=\"_ _0\"></span>nt t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>,<span class=\"_ _3bd\"> </span> go<span class=\"_ _0\"></span>odwill is alloc<span class=\"_ _0\"></span>ated to relevant c<span class=\"_ _0\"></span>ash ge<span class=\"_ _0\"></span>nerating un<span class=\"_ _0\"></span>its. G<span class=\"_ _0\"></span>oodwill is imp<span class=\"_ _0\"></span>aired when th<span class=\"_ _0\"></span>e recovera<span class=\"_ _0\"></span>ble amount is le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In ce<span class=\"_ _0\"></span>rtain a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s an exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e acquirer<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in the net fair va<span class=\"_ _0\"></span>lue of the acquire<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s ide<span class=\"_ _0\"></span>ntifiable as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, liabilitie<span class=\"_ _0\"></span>s, contin<span class=\"_ _0\"></span>gent liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span> and n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r cost m<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>rise. Whe<span class=\"_ _0\"></span>re this occur<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus of the fair va<span class=\"_ _0\"></span>lue of net ass<span class=\"_ _0\"></span>ets ac<span class=\"_ _0\"></span>quired over the fair v<span class=\"_ _0\"></span>alue of the<span class=\"_ _3bd\"> </span> con<span class=\"_ _0\"></span>sideration i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Acquir<span class=\"_ _2\"></span>ed in-force<span class=\"_ _2\"></span> business (<span class=\"_ _2\"></span>\u2018<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>VIF\u2019)<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>cquired in b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinatio<span class=\"_ _0\"></span>ns and por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e at the time of acq<span class=\"_ _0\"></span>uisition.<span class=\"_ _3bd\"> </span> At initial re<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n the A<span class=\"_ _4\"></span>V<span class=\"_ _0\"></span>IF repres<span class=\"_ _0\"></span>ents the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the fair val<span class=\"_ _0\"></span>ue of the contra<span class=\"_ _0\"></span>ctual rig<span class=\"_ _0\"></span>hts acquire<span class=\"_ _0\"></span>d and oblig<span class=\"_ _0\"></span>ations as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span> the liab<span class=\"_ _0\"></span>ility me<span class=\"_ _0\"></span>asured in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicies. T<span class=\"_ _0\"></span>he liabilit<span class=\"_ _0\"></span>y meas<span class=\"_ _0\"></span>ured in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th the Group\u2019s acco<span class=\"_ _0\"></span>unting<span class=\"_ _3bd\"> </span> polic<span class=\"_ _0\"></span>ies is determin<span class=\"_ _0\"></span>ed using a val<span class=\"_ _0\"></span>uation techn<span class=\"_ _0\"></span>ique to provide a relia<span class=\"_ _0\"></span>ble estim<span class=\"_ _0\"></span>ate of the amount for whi<span class=\"_ _0\"></span>ch the liabilit<span class=\"_ _0\"></span>y could b<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>rred in an<span class=\"_ _3bd\"> </span> order<span class=\"_ _0\"></span>ly transa<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n market part<span class=\"_ _0\"></span>icipants at th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment date, s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a minimum equa<span class=\"_ _0\"></span>l to the surrend<span class=\"_ _0\"></span>er value. This a<span class=\"_ _0\"></span>cquired<span class=\"_ _3bd\"> </span> in-force bu<span class=\"_ _0\"></span>siness is a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed on a diminis<span class=\"_ _0\"></span>hing balan<span class=\"_ _0\"></span>ce basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> An impair<span class=\"_ _0\"></span>ment review is p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is an indic<span class=\"_ _0\"></span>ation of impairm<span class=\"_ _0\"></span>ent. Whe<span class=\"_ _0\"></span>n the recover<span class=\"_ _0\"></span>able amount i<span class=\"_ _0\"></span>s less tha<span class=\"_ _0\"></span>n the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue,<span class=\"_ _3bd\"> </span> an impair<span class=\"_ _0\"></span>ment los<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span> The a<span class=\"_ _0\"></span>cquired in-force b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s is allocate<span class=\"_ _0\"></span>d to relevant ca<span class=\"_ _0\"></span>sh gene<span class=\"_ _0\"></span>rating unit<span class=\"_ _0\"></span>s for the purpo<span class=\"_ _0\"></span>ses of impairm<span class=\"_ _0\"></span>ent testin<span class=\"_ _0\"></span>g.<span class=\"_ _3bd\"> </span>Brands<span class=\"_ _3bd\"> </span> Bran<span class=\"_ _0\"></span>ds are mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition at cos<span class=\"_ _0\"></span>t. The co<span class=\"_ _0\"></span>st of an intang<span class=\"_ _0\"></span>ible ass<span class=\"_ _0\"></span>et acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combin<span class=\"_ _0\"></span>ation is the fair val<span class=\"_ _0\"></span>ue as at the<span class=\"_ _3bd\"> </span> date of the ac<span class=\"_ _0\"></span>quisition<span class=\"_ _0\"></span>. The cos<span class=\"_ _0\"></span>t of an intangibl<span class=\"_ _0\"></span>e asset a<span class=\"_ _0\"></span>cquired in exch<span class=\"_ _0\"></span>ange for a n<span class=\"_ _0\"></span>on-monet<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>sset is me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value as at the d<span class=\"_ _0\"></span>ate of<span class=\"_ _3bd\"> </span> the tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion. Followin<span class=\"_ _0\"></span>g initial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>, the brand a<span class=\"_ _0\"></span>nd other co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets are c<span class=\"_ _0\"></span>arried at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s accum<span class=\"_ _0\"></span>ulated<span class=\"_ _3bd\"> </span> amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion and any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs94f\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of bran<span class=\"_ _0\"></span>ds ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated usef<span class=\"_ _0\"></span>ul lives. Th<span class=\"_ _0\"></span>ey are teste<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs950\">impairm<span class=\"_ _0\"></span>ent whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is evide<span class=\"_ _0\"></span>nce of pos<span class=\"_ _0\"></span>sible impairm<span class=\"_ _0\"></span>ent. For impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing, the<span class=\"_ _0\"></span>y are allocate<span class=\"_ _0\"></span>d to the relevant c<span class=\"_ _0\"></span>ash gen<span class=\"_ _0\"></span>erating unit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs951\">Bran<span class=\"_ _0\"></span>ds are impaire<span class=\"_ _0\"></span>d when the re<span class=\"_ _0\"></span>coverable am<span class=\"_ _0\"></span>ount is les<span class=\"_ _0\"></span>s than the c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs952\">Internall<span class=\"_ _2\"></span>y generated software assets<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs953\">Intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>sets aris<span class=\"_ _0\"></span>ing from develop<span class=\"_ _0\"></span>ment cos<span class=\"_ _0\"></span>ts are ca<span class=\"_ _0\"></span>pitalise<span class=\"_ _0\"></span>d when it ha<span class=\"_ _0\"></span>s been es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed that th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>t is technic<span class=\"_ _0\"></span>ally and fin<span class=\"_ _0\"></span>ancially<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs954\">feasib<span class=\"_ _0\"></span>le and the Gro<span class=\"_ _0\"></span>up has both th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion and the ab<span class=\"_ _0\"></span>ility to us<span class=\"_ _0\"></span>e the comple<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>et. Interna<span class=\"_ _0\"></span>lly gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are measure<span class=\"_ _0\"></span>d on<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs955\">initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion at cost w<span class=\"_ _0\"></span>hich compr<span class=\"_ _0\"></span>ises all direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y to create, p<span class=\"_ _0\"></span>roduce an<span class=\"_ _0\"></span>d prepare the a<span class=\"_ _0\"></span>sset to be c<span class=\"_ _0\"></span>apable of<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs956\">ope<span class=\"_ _0\"></span>rating in the ma<span class=\"_ _0\"></span>nner intend<span class=\"_ _0\"></span>ed by mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. Following initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition, the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at cost le<span class=\"_ _0\"></span>ss ac<span class=\"_ _0\"></span>cumulated am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs957\">any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs958\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of the intern<span class=\"_ _0\"></span>ally gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs959\">usef<span class=\"_ _0\"></span>ul lives which is es<span class=\"_ _0\"></span>timated to b<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en 3 and 1<span class=\"_ _0\"></span>0 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars. T<span class=\"_ _0\"></span>hey are teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt whenever th<span class=\"_ _0\"></span>ere is eviden<span class=\"_ _0\"></span>ce of possib<span class=\"_ _0\"></span>le impairme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs97e\">Own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y is st<span class=\"_ _0\"></span>ated at its reva<span class=\"_ _0\"></span>lued amo<span class=\"_ _0\"></span>unt, bein<span class=\"_ _0\"></span>g its fair valu<span class=\"_ _0\"></span>e at the date of the revalu<span class=\"_ _0\"></span>ation less a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ent accum<span class=\"_ _0\"></span>ulated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs97f\">depre<span class=\"_ _0\"></span>ciation an<span class=\"_ _0\"></span>d impairment<span class=\"_ _0\"></span>. Owne<span class=\"_ _0\"></span>r-occup<span class=\"_ _0\"></span>ied prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y is depre<span class=\"_ _0\"></span>ciated over it<span class=\"_ _0\"></span>s estimate<span class=\"_ _0\"></span>d useful life, whi<span class=\"_ _0\"></span>ch is taken as 20<span class=\"_ _0\"></span>-50 yea<span class=\"_ _0\"></span>rs. Lan<span class=\"_ _0\"></span>d is not </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs980\">depre<span class=\"_ _0\"></span>ciated. A<span class=\"_ _0\"></span>ccumulate<span class=\"_ _0\"></span>d depreci<span class=\"_ _0\"></span>ation as at the reva<span class=\"_ _0\"></span>luation date is elim<span class=\"_ _0\"></span>inated ag<span class=\"_ _0\"></span>ainst the g<span class=\"_ _0\"></span>ross car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of the owne<span class=\"_ _0\"></span>r-occ<span class=\"_ _0\"></span>upied </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs981\">prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and the n<span class=\"_ _0\"></span>et amount is res<span class=\"_ _0\"></span>tated to th<span class=\"_ _0\"></span>e revalued am<span class=\"_ _0\"></span>ount of the ass<span class=\"_ _0\"></span>et. Gain<span class=\"_ _0\"></span>s in owner-oc<span class=\"_ _0\"></span>cupied p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs982\">comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come. Wh<span class=\"_ _0\"></span>en a revaluation l<span class=\"_ _0\"></span>oss aris<span class=\"_ _0\"></span>es on a previou<span class=\"_ _0\"></span>sly revalue<span class=\"_ _0\"></span>d asset it is fi<span class=\"_ _0\"></span>rst de<span class=\"_ _0\"></span>ducted a<span class=\"_ _0\"></span>gainst a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y p<span class=\"_ _0\"></span>revious revaluat<span class=\"_ _0\"></span>ion gain. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs983\">Any exces<span class=\"_ _0\"></span>s impairme<span class=\"_ _0\"></span>nt is then rec<span class=\"_ _0\"></span>orded as a<span class=\"_ _0\"></span>n impairment ex<span class=\"_ _0\"></span>pense in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs984\">The rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>f-u<span class=\"_ _0\"></span>se ass<span class=\"_ _0\"></span>ets are initiall<span class=\"_ _0\"></span>y measure<span class=\"_ _0\"></span>d at cost<span class=\"_ _0\"></span>, and subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y at cost le<span class=\"_ _0\"></span>ss any acc<span class=\"_ _0\"></span>umulated de<span class=\"_ _0\"></span>preciatio<span class=\"_ _0\"></span>n and impairm<span class=\"_ _0\"></span>ents, a<span class=\"_ _0\"></span>nd adju<span class=\"_ _0\"></span>sted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs985\">for cer<span class=\"_ _0\"></span>tain re<span class=\"_ _0\"></span>measure<span class=\"_ _0\"></span>ments of the le<span class=\"_ _0\"></span>ase liabilit<span class=\"_ _0\"></span>y. The right-of-use a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are deprec<span class=\"_ _0\"></span>iated over the rem<span class=\"_ _0\"></span>aining lea<span class=\"_ _0\"></span>se term which is b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en 1 and 8 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs986\">year<span class=\"_ _0\"></span>s (2023: 1 and 11 ye<span class=\"_ _0\"></span>ars).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs988\">Equipme<span class=\"_ _0\"></span>nt consis<span class=\"_ _0\"></span>ts primar<span class=\"_ _0\"></span>ily of computer e<span class=\"_ _0\"></span>quipment a<span class=\"_ _0\"></span>nd fittin<span class=\"_ _0\"></span>gs. Equip<span class=\"_ _0\"></span>ment is st<span class=\"_ _0\"></span>ated at histo<span class=\"_ _0\"></span>rical cos<span class=\"_ _0\"></span>t less d<span class=\"_ _0\"></span>eprec<span class=\"_ _0\"></span>ation. Whe<span class=\"_ _0\"></span>re acquired in a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs989\">busin<span class=\"_ _0\"></span>ess com<span class=\"_ _0\"></span>bination<span class=\"_ _0\"></span>, historic<span class=\"_ _0\"></span>al cost e<span class=\"_ _0\"></span>quates to the fa<span class=\"_ _0\"></span>ir value at the ac<span class=\"_ _0\"></span>quisition date<span class=\"_ _0\"></span>. Deprec<span class=\"_ _0\"></span>iation on equ<span class=\"_ _0\"></span>ipment is cha<span class=\"_ _0\"></span>rged to the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs98a\">inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment over its e<span class=\"_ _0\"></span>stimated u<span class=\"_ _0\"></span>seful life of bet<span class=\"_ _0\"></span>ween 2 and 1<span class=\"_ _0\"></span>5 years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div>Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, inc<span class=\"_ _0\"></span>luding right of us<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s, is initi<span class=\"_ _0\"></span>ally reco<span class=\"_ _0\"></span>gnised at c<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>, including any dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble trans<span class=\"_ _0\"></span>action c<span class=\"_ _0\"></span>osts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty is m<span class=\"_ _0\"></span>easured a<span class=\"_ _0\"></span>t fair value. Fair val<span class=\"_ _0\"></span>ue is the price th<span class=\"_ _0\"></span>at would be re<span class=\"_ _0\"></span>ceived to s<span class=\"_ _0\"></span>ell a proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y in an orderly<span class=\"_ _3bd\"> </span>tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n betwe<span class=\"_ _0\"></span>en market par<span class=\"_ _0\"></span>ticipant<span class=\"_ _0\"></span>s at the mea<span class=\"_ _0\"></span>surement da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>. Fair value is determ<span class=\"_ _0\"></span>ined witho<span class=\"_ _0\"></span>ut any deduc<span class=\"_ _0\"></span>tion for tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s that may<span class=\"_ _3bd\"> </span>be inc<span class=\"_ _0\"></span>urred on sa<span class=\"_ _0\"></span>le or dispos<span class=\"_ _0\"></span>al. Gains an<span class=\"_ _0\"></span>d losse<span class=\"_ _0\"></span>s arising from t<span class=\"_ _0\"></span>he chang<span class=\"_ _0\"></span>e in fair value are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as inc<span class=\"_ _0\"></span>ome or an exp<span class=\"_ _0\"></span>ense in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f<span class=\"_ _3bd\"> </span>comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y include<span class=\"_ _0\"></span>s right-of-use as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, where th<span class=\"_ _0\"></span>e Group act<span class=\"_ _0\"></span>s as les<span class=\"_ _0\"></span>see. Lea<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, where a signifi<span class=\"_ _0\"></span>cant por<span class=\"_ _0\"></span>tion of the ris<span class=\"_ _0\"></span>ks and rewards of<span class=\"_ _3bd\"> </span>owner<span class=\"_ _0\"></span>ship are retain<span class=\"_ _0\"></span>ed by the les<span class=\"_ _0\"></span>sor, are class<span class=\"_ _0\"></span>ified as ope<span class=\"_ _0\"></span>rating le<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>. Where investm<span class=\"_ _0\"></span>ent prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y is lease<span class=\"_ _0\"></span>d out by the Gro<span class=\"_ _0\"></span>up, rental inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span>from the<span class=\"_ _0\"></span>se oper<span class=\"_ _0\"></span>ating leas<span class=\"_ _0\"></span>es is reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d as income in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment on a st<span class=\"_ _0\"></span>raight-line bas<span class=\"_ _0\"></span>is ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d of the lease<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9da\">Oth<span class=\"_ _0\"></span>er rece<span class=\"_ _0\"></span>ivables are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when du<span class=\"_ _0\"></span>e and mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at the fair va<span class=\"_ _0\"></span>lue of the amount re<span class=\"_ _0\"></span>ceivabl<span class=\"_ _0\"></span>e. Subse<span class=\"_ _0\"></span>quent to initia<span class=\"_ _0\"></span>l </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9db\">rec<span class=\"_ _0\"></span>ognition<span class=\"_ _0\"></span>, these re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost us<span class=\"_ _0\"></span>ing the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t rate meth<span class=\"_ _0\"></span>od.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9dd\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s compris<span class=\"_ _0\"></span>e cash b<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>s and shor<span class=\"_ _0\"></span>t-term depos<span class=\"_ _0\"></span>its with an ori<span class=\"_ _0\"></span>ginal matur<span class=\"_ _0\"></span>ity term of thre<span class=\"_ _0\"></span>e months or l<span class=\"_ _0\"></span>ess at the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9de\">plac<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>. Bank overdraf<span class=\"_ _0\"></span>ts that a<span class=\"_ _0\"></span>re repayable on de<span class=\"_ _0\"></span>mand and for<span class=\"_ _0\"></span>m an integral p<span class=\"_ _0\"></span>art of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ca<span class=\"_ _0\"></span>sh mana<span class=\"_ _0\"></span>gement are d<span class=\"_ _0\"></span>educte<span class=\"_ _0\"></span>d from cas<span class=\"_ _0\"></span>h </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9df\">and c<span class=\"_ _0\"></span>ash equiv<span class=\"_ _0\"></span>alents for th<span class=\"_ _0\"></span>e purpose of th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated cas<span class=\"_ _0\"></span>h flows. B<span class=\"_ _0\"></span>alances h<span class=\"_ _0\"></span>eld within c<span class=\"_ _0\"></span>ollective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes to m<span class=\"_ _0\"></span>eet </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e0\">both sh<span class=\"_ _0\"></span>ort an<span class=\"_ _0\"></span>d long term liqui<span class=\"_ _0\"></span>dity re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group are exclu<span class=\"_ _0\"></span>ded from ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equival<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e2\">A provision i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised whe<span class=\"_ _0\"></span>n the Group ha<span class=\"_ _0\"></span>s a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion, as a re<span class=\"_ _0\"></span>sult of a past event<span class=\"_ _0\"></span>, which is likely to res<span class=\"_ _0\"></span>ult in an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e3\">out<span class=\"_ _0\"></span>flow of reso<span class=\"_ _0\"></span>urces and wh<span class=\"_ _0\"></span>ere a reliable e<span class=\"_ _0\"></span>stimate of the am<span class=\"_ _0\"></span>ount of the oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e made. If th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t is material<span class=\"_ _0\"></span>, the provision is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e4\">determin<span class=\"_ _0\"></span>ed by disc<span class=\"_ _0\"></span>ounting the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d future ca<span class=\"_ _0\"></span>sh flows at a pre<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ax rate that refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s current market as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ments of the tim<span class=\"_ _0\"></span>e value of money </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e5\">and<span class=\"_ _0\"></span>, where appro<span class=\"_ _0\"></span>priate, the ris<span class=\"_ _0\"></span>ks specific to th<span class=\"_ _0\"></span>e liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e6\">A provision i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised for on<span class=\"_ _0\"></span>erous contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>hen the exp<span class=\"_ _0\"></span>ected b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>e derived from t<span class=\"_ _0\"></span>he contra<span class=\"_ _0\"></span>cts are le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e related </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e7\">unavoidab<span class=\"_ _0\"></span>le cost<span class=\"_ _0\"></span>s. The un<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>idable cos<span class=\"_ _0\"></span>ts refle<span class=\"_ _0\"></span>ct the net c<span class=\"_ _0\"></span>ost of exitin<span class=\"_ _0\"></span>g the contra<span class=\"_ _0\"></span>ct, whic<span class=\"_ _0\"></span>h is the lower of the co<span class=\"_ _0\"></span>st of fulfilling it an<span class=\"_ _0\"></span>d any </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e8\">comp<span class=\"_ _0\"></span>ensatio<span class=\"_ _0\"></span>n or penal<span class=\"_ _0\"></span>ties arising fro<span class=\"_ _0\"></span>m failure to fulfil it<span class=\"_ _0\"></span>. Cost<span class=\"_ _0\"></span>s that mee<span class=\"_ _0\"></span>t the requirem<span class=\"_ _0\"></span>ents to be cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as a provision b<span class=\"_ _0\"></span>ut are determine<span class=\"_ _0\"></span>d to be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e9\">direc<span class=\"_ _0\"></span>tly attr<span class=\"_ _0\"></span>ibutable to in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ith DPF are cla<span class=\"_ _0\"></span>ssified w<span class=\"_ _0\"></span>ithin the insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ea\">Addition<span class=\"_ _0\"></span>s and redu<span class=\"_ _0\"></span>ctions to provis<span class=\"_ _0\"></span>ions are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>trative exp<span class=\"_ _0\"></span>enses wit<span class=\"_ _0\"></span>hin the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9eb\">Where i<span class=\"_ _0\"></span>t is expec<span class=\"_ _0\"></span>ted that a pa<span class=\"_ _0\"></span>rt of the exp<span class=\"_ _0\"></span>enditure re<span class=\"_ _0\"></span>quired to set<span class=\"_ _0\"></span>tle a provisio<span class=\"_ _0\"></span>n will be reimbur<span class=\"_ _0\"></span>sed by a third pa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y the reimbur<span class=\"_ _0\"></span>seme<span class=\"_ _0\"></span>nt is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ec\">rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d when, a<span class=\"_ _0\"></span>nd only whe<span class=\"_ _0\"></span>n, it is vir<span class=\"_ _0\"></span>tually ce<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>in that the reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt will be rec<span class=\"_ _0\"></span>eived. This re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as a sepa<span class=\"_ _0\"></span>rate </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ed\">as<span class=\"_ _0\"></span>set within othe<span class=\"_ _0\"></span>r receivab<span class=\"_ _0\"></span>les and will not exc<span class=\"_ _0\"></span>eed th<span class=\"_ _0\"></span>e amount of the provis<span class=\"_ _0\"></span>ion.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa16\">Deferre<span class=\"_ _0\"></span>d tax is provi<span class=\"_ _0\"></span>ded for on temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities for finan<span class=\"_ _0\"></span>cial repor<span class=\"_ _0\"></span>ting pur<span class=\"_ _0\"></span>poses an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa17\">the am<span class=\"_ _0\"></span>ounts use<span class=\"_ _0\"></span>d for taxati<span class=\"_ _0\"></span>on purpos<span class=\"_ _0\"></span>es. Defe<span class=\"_ _0\"></span>rred tax i<span class=\"_ _0\"></span>s not provided in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e initial rec<span class=\"_ _0\"></span>ognition of g<span class=\"_ _0\"></span>oodwill and t<span class=\"_ _0\"></span>he initial rec<span class=\"_ _0\"></span>ognition of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa18\">as<span class=\"_ _0\"></span>sets or liab<span class=\"_ _0\"></span>ilities in a trans<span class=\"_ _0\"></span>action t<span class=\"_ _0\"></span>hat is not a busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbination an<span class=\"_ _0\"></span>d that, at th<span class=\"_ _0\"></span>e time of the trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>, affe<span class=\"_ _0\"></span>cts nei<span class=\"_ _0\"></span>ther acc<span class=\"_ _0\"></span>ounting nor </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa19\">tax<span class=\"_ _0\"></span>able profit. T<span class=\"_ _0\"></span>he amount of deferre<span class=\"_ _0\"></span>d tax provid<span class=\"_ _0\"></span>ed is bas<span class=\"_ _0\"></span>ed on the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d manner of re<span class=\"_ _0\"></span>alisation or s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of the ca<span class=\"_ _0\"></span>rrying a<span class=\"_ _0\"></span>mount of ass<span class=\"_ _0\"></span>ets </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa1a\">and lia<span class=\"_ _0\"></span>bilities, u<span class=\"_ _0\"></span>sing tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa1b\">A deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d only to the ex<span class=\"_ _0\"></span>tent that it is pro<span class=\"_ _0\"></span>bable that f<span class=\"_ _0\"></span>uture tax<span class=\"_ _0\"></span>able profits will b<span class=\"_ _0\"></span>e available ag<span class=\"_ _0\"></span>ainst whi<span class=\"_ _0\"></span>ch the ass<span class=\"_ _0\"></span>et can be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa1c\">utilise<span class=\"_ _0\"></span>d. Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d to the extent t<span class=\"_ _0\"></span>hat it is no lon<span class=\"_ _0\"></span>ger proba<span class=\"_ _0\"></span>ble that the re<span class=\"_ _0\"></span>lated tax b<span class=\"_ _0\"></span>enefit will b<span class=\"_ _0\"></span>e realised<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa53\">The le<span class=\"_ _0\"></span>ase liabilit<span class=\"_ _0\"></span>y is initiall<span class=\"_ _0\"></span>y measure<span class=\"_ _0\"></span>d at the pres<span class=\"_ _0\"></span>ent value of the le<span class=\"_ _0\"></span>ase payme<span class=\"_ _0\"></span>nts that are n<span class=\"_ _0\"></span>ot paid at the co<span class=\"_ _0\"></span>mmenc<span class=\"_ _0\"></span>ement date, di<span class=\"_ _0\"></span>scounted u<span class=\"_ _0\"></span>sing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa54\">the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s incre<span class=\"_ _0\"></span>mental b<span class=\"_ _0\"></span>orrowing rate as th<span class=\"_ _0\"></span>e interest r<span class=\"_ _0\"></span>ate implicit in the le<span class=\"_ _0\"></span>ase can<span class=\"_ _0\"></span>not be readil<span class=\"_ _0\"></span>y determine<span class=\"_ _0\"></span>d. For ground re<span class=\"_ _0\"></span>nt lease<span class=\"_ _0\"></span>s, the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa55\">incre<span class=\"_ _0\"></span>mental b<span class=\"_ _0\"></span>orrowing rate of invest<span class=\"_ _0\"></span>ment funds h<span class=\"_ _0\"></span>olding the a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ated investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>ties is us<span class=\"_ _0\"></span>ed as the di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>. The leas<span class=\"_ _0\"></span>e liabilit<span class=\"_ _0\"></span>y is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa56\">subs<span class=\"_ _0\"></span>equently in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d by the interes<span class=\"_ _0\"></span>t cost on t<span class=\"_ _0\"></span>he lease li<span class=\"_ _0\"></span>ability a<span class=\"_ _0\"></span>nd decre<span class=\"_ _0\"></span>ased by le<span class=\"_ _0\"></span>ase payme<span class=\"_ _0\"></span>nts made<span class=\"_ _0\"></span>. It is remea<span class=\"_ _0\"></span>sured whe<span class=\"_ _0\"></span>n there is a cha<span class=\"_ _0\"></span>nge </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa57\">in future l<span class=\"_ _0\"></span>ease paym<span class=\"_ _0\"></span>ents arisin<span class=\"_ _0\"></span>g from, for exa<span class=\"_ _0\"></span>mple, rent revie<span class=\"_ _0\"></span>ws or from chan<span class=\"_ _0\"></span>ges in the a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of whet<span class=\"_ _0\"></span>her a terminat<span class=\"_ _0\"></span>ion option is reas<span class=\"_ _0\"></span>onably </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa58\">cer<span class=\"_ _0\"></span>tain not to b<span class=\"_ _0\"></span>e exercise<span class=\"_ _0\"></span>d. The Group h<span class=\"_ _0\"></span>as applie<span class=\"_ _0\"></span>d judgem<span class=\"_ _0\"></span>ent to determin<span class=\"_ _0\"></span>e the lease te<span class=\"_ _0\"></span>rm for some le<span class=\"_ _0\"></span>ase contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ith break cla<span class=\"_ _0\"></span>uses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa5a\">This note a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>s the Group\u2019s accru<span class=\"_ _0\"></span>als and deferre<span class=\"_ _0\"></span>d income a<span class=\"_ _0\"></span>t the end of the yea<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div>Oth<span class=\"_ _0\"></span>er payable<span class=\"_ _0\"></span>s are recog<span class=\"_ _0\"></span>nised wh<span class=\"_ _0\"></span>en due and are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d on initial rec<span class=\"_ _0\"></span>ognition at th<span class=\"_ _0\"></span>e fair value of the c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation payable. S<span class=\"_ _0\"></span>ubseq<span class=\"_ _0\"></span>uent to<span class=\"_ gs47\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion, thes<span class=\"_ _0\"></span>e payables a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost usin<span class=\"_ _0\"></span>g the effec<span class=\"_ _0\"></span>tive interes<span class=\"_ _0\"></span>t rate metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Subs<span class=\"_ _0\"></span>idiaries are c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d from the date th<span class=\"_ _0\"></span>at effec<span class=\"_ _0\"></span>tive control is obt<span class=\"_ _0\"></span>ained by the G<span class=\"_ _0\"></span>roup (see Ba<span class=\"_ _0\"></span>sis of consoli<span class=\"_ _0\"></span>dation in note A<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>) and are exclude<span class=\"_ _0\"></span>d from con<span class=\"_ _0\"></span>solidation fro<span class=\"_ _0\"></span>m the date they ce<span class=\"_ _0\"></span>ase to be sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s. For subsi<span class=\"_ _0\"></span>diaries disp<span class=\"_ _0\"></span>osed of durin<span class=\"_ _0\"></span>g the year<span class=\"_ _2\"></span>, any dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e arisin<span class=\"_ _0\"></span>g from the rec<span class=\"_ _0\"></span>ognition of the n<span class=\"_ _0\"></span>et proce<span class=\"_ _0\"></span>eds<span class=\"_ _0\"></span>, recogn<span class=\"_ _0\"></span>ition of the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f any ret<span class=\"_ _0\"></span>ained intere<span class=\"_ _0\"></span>st and de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nition of the car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of the subs<span class=\"_ _0\"></span>idiary in<span class=\"_ _0\"></span>cluding n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s, is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up uses the a<span class=\"_ _0\"></span>cquisitio<span class=\"_ _0\"></span>n method to a<span class=\"_ _0\"></span>ccount for th<span class=\"_ _0\"></span>e acquisitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>ubsidiaries<span class=\"_ _0\"></span>. The co<span class=\"_ _0\"></span>st of an acqui<span class=\"_ _0\"></span>sition is mea<span class=\"_ _0\"></span>sured at the f<span class=\"_ _0\"></span>air value of the con<span class=\"_ _0\"></span>sideration<span class=\"_ _0\"></span>. Any exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e cost of ac<span class=\"_ _0\"></span>quisition over th<span class=\"_ _0\"></span>e fair value of the net a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d is recog<span class=\"_ _0\"></span>nised as g<span class=\"_ _0\"></span>oodwill. I<span class=\"_ _0\"></span>n cer<span class=\"_ _0\"></span>tain acqui<span class=\"_ _0\"></span>sitions an exce<span class=\"_ _0\"></span>ss of the acq<span class=\"_ _0\"></span>uirer\u2019<span class=\"_ _2\"></span>s inte<span class=\"_ _0\"></span>rest in the n<span class=\"_ _0\"></span>et fair value of the ac<span class=\"_ _0\"></span>quiree\u2019s identifiab<span class=\"_ _0\"></span>le asset<span class=\"_ _0\"></span>s, lia<span class=\"_ _0\"></span>bilities, c<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt liabilities an<span class=\"_ _0\"></span>d non-cont<span class=\"_ _0\"></span>rolling interes<span class=\"_ _0\"></span>ts over cos<span class=\"_ _0\"></span>t may arise<span class=\"_ _0\"></span>. Where this oc<span class=\"_ _0\"></span>curs<span class=\"_ _0\"></span>, the surplu<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value of net a<span class=\"_ _0\"></span>ssets a<span class=\"_ _0\"></span>cquired over th<span class=\"_ _0\"></span>e fair value of the c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span>Direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le acquisit<span class=\"_ _0\"></span>ion cost<span class=\"_ _0\"></span>s are include<span class=\"_ _0\"></span>d within admin<span class=\"_ _0\"></span>istrative exp<span class=\"_ _0\"></span>enses<span class=\"_ _0\"></span>, except for a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s under<span class=\"_ _0\"></span>taken prior to 201<span class=\"_ _0\"></span>0 when the<span class=\"_ _0\"></span>y are incl<span class=\"_ _0\"></span>uded within th<span class=\"_ _0\"></span>e cost of the a<span class=\"_ _0\"></span>cquisitio<span class=\"_ _0\"></span>n. Cos<span class=\"_ _0\"></span>ts direc<span class=\"_ _0\"></span>tly related to th<span class=\"_ _0\"></span>e issuing of de<span class=\"_ _0\"></span>bt or equit<span class=\"_ _0\"></span>y sec<span class=\"_ _0\"></span>urities are inc<span class=\"_ _0\"></span>luded with<span class=\"_ _0\"></span>in the initial car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of debt or e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s where the<span class=\"_ _0\"></span>se are not car<span class=\"_ _0\"></span>ried at fair valu<span class=\"_ _0\"></span>e. Intra-g<span class=\"_ _0\"></span>roup balan<span class=\"_ _0\"></span>ces and in<span class=\"_ _0\"></span>come and ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s arising from intra-<span class=\"_ _0\"></span>group trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s are eliminate<span class=\"_ _0\"></span>d in preparing t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has investe<span class=\"_ _0\"></span>d in a number of c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes s<span class=\"_ _0\"></span>uch as Op<span class=\"_ _0\"></span>en-end<span class=\"_ _0\"></span>ed Investm<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>anies (\u2018O<span class=\"_ _0\"></span>EICs\u2019), uni<span class=\"_ _0\"></span>t trust<span class=\"_ _0\"></span>s, So<span class=\"_ _0\"></span>ci\u00e9t\u00e9 d\u2019<span class=\"_ _0\"></span>Investis<span class=\"_ _0\"></span>seme<span class=\"_ _0\"></span>nt \u00e0 Capital Variable (<span class=\"_ _0\"></span>\u2018SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>Vs<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>), investm<span class=\"_ _0\"></span>ent trust<span class=\"_ _0\"></span>s and private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds. T<span class=\"_ _0\"></span>hese inves<span class=\"_ _0\"></span>t mainly in eq<span class=\"_ _0\"></span>uities, b<span class=\"_ _0\"></span>onds<span class=\"_ _0\"></span>, proper<span class=\"_ _0\"></span>ty a<span class=\"_ _0\"></span>nd ca<span class=\"_ _0\"></span>sh and cas<span class=\"_ _0\"></span>h equivale<span class=\"_ _0\"></span>nts. Th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>ercenta<span class=\"_ _0\"></span>ge owner<span class=\"_ _0\"></span>ship in thes<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s can fluc<span class=\"_ _0\"></span>tuate acc<span class=\"_ _0\"></span>ording to the leve<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f Group an<span class=\"_ _0\"></span>d third par<span class=\"_ _0\"></span>ty pa<span class=\"_ _0\"></span>rticip<span class=\"_ _0\"></span>ation in the str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>When a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing contro<span class=\"_ _0\"></span>l ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s, the G<span class=\"_ _0\"></span>roup consi<span class=\"_ _0\"></span>ders tho<span class=\"_ _0\"></span>se factor<span class=\"_ _0\"></span>s describ<span class=\"_ _0\"></span>ed unde<span class=\"_ _0\"></span>r the Basis of co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n in note A1. In par<span class=\"_ _0\"></span>ticular, the Group c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>s the sco<span class=\"_ _0\"></span>pe of its dec<span class=\"_ _0\"></span>ision-makin<span class=\"_ _0\"></span>g authori<span class=\"_ _0\"></span>ty, including t<span class=\"_ _0\"></span>he existen<span class=\"_ _0\"></span>ce of subst<span class=\"_ _0\"></span>antive rights (su<span class=\"_ _0\"></span>ch as power of veto, liquida<span class=\"_ _0\"></span>tion rights an<span class=\"_ _0\"></span>d the right to rem<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve th<span class=\"_ _0\"></span>e fund man<span class=\"_ _0\"></span>ager) that give it t<span class=\"_ _0\"></span>he abilit<span class=\"_ _0\"></span>y to direct the re<span class=\"_ _0\"></span>levant acti<span class=\"_ _0\"></span>vities of the inves<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e. The as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of whether r<span class=\"_ _0\"></span>ights are sub<span class=\"_ _0\"></span>stantive rig<span class=\"_ _0\"></span>hts, an<span class=\"_ _0\"></span>d the circums<span class=\"_ _0\"></span>tanc<span class=\"_ _0\"></span>es under whic<span class=\"_ _0\"></span>h the Group ha<span class=\"_ _0\"></span>s the prac<span class=\"_ _0\"></span>tical abili<span class=\"_ _0\"></span>ty to exercis<span class=\"_ _0\"></span>e them, require<span class=\"_ _0\"></span>s the exercise of j<span class=\"_ _0\"></span>udgeme<span class=\"_ _0\"></span>nt. This as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment incl<span class=\"_ _0\"></span>udes a qualit<span class=\"_ _0\"></span>ative consid<span class=\"_ _0\"></span>eration of the rig<span class=\"_ _0\"></span>hts held by th<span class=\"_ _0\"></span>e Group that are a<span class=\"_ _0\"></span>tta<span class=\"_ _0\"></span>ched to its holdin<span class=\"_ _0\"></span>gs in the co<span class=\"_ _0\"></span>llective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes<span class=\"_ _0\"></span>, rights th<span class=\"_ _0\"></span>at arise from c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween the Gro<span class=\"_ _0\"></span>up and the enti<span class=\"_ _0\"></span>ty or fun<span class=\"_ _0\"></span>d man<span class=\"_ _0\"></span>ager an<span class=\"_ _0\"></span>d the rights h<span class=\"_ _0\"></span>eld by third par<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>. In addition<span class=\"_ _0\"></span>, consid<span class=\"_ _0\"></span>eration is ma<span class=\"_ _0\"></span>de of whether t<span class=\"_ _0\"></span>he Group has d<span class=\"_ _0\"></span>e facto powe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, for exampl<span class=\"_ _0\"></span>e, where third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s in the colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes are wide<span class=\"_ _0\"></span>ly disper<span class=\"_ _0\"></span>sed. Where G<span class=\"_ _0\"></span>roup compa<span class=\"_ _0\"></span>nies are dee<span class=\"_ _0\"></span>med to cont<span class=\"_ _0\"></span>rol such coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes the<span class=\"_ _0\"></span>y are consoli<span class=\"_ _0\"></span>dated in the Gro<span class=\"_ _0\"></span>up financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents, with the inte<span class=\"_ _0\"></span>rests of ex<span class=\"_ _0\"></span>ternal th<span class=\"_ _0\"></span>ird parti<span class=\"_ _0\"></span>es reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s<span class=\"_ gs47\"> </span>a liabilit<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ee the ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy for \u2018N<span class=\"_ _0\"></span>et ass<span class=\"_ _0\"></span>et value at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to unitholde<span class=\"_ _0\"></span>rs in note E1 for fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails).<span class=\"_ _3bd\"> </span>Ce<span class=\"_ _0\"></span>rtain of th<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s have non-cote<span class=\"_ _0\"></span>rminous p<span class=\"_ _0\"></span>eriod end<span class=\"_ _0\"></span>s and are con<span class=\"_ _0\"></span>solidated o<span class=\"_ _0\"></span>n the basis of ad<span class=\"_ _0\"></span>ditional fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atements p<span class=\"_ _0\"></span>repared to th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span>Portfolio transfers<span class=\"_ _3bd\"> </span>When c<span class=\"_ _0\"></span>ompletin<span class=\"_ _0\"></span>g an acquisit<span class=\"_ _0\"></span>ion, the Gro<span class=\"_ _0\"></span>up first c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>s whether th<span class=\"_ _0\"></span>e acquisiti<span class=\"_ _0\"></span>on meet<span class=\"_ _0\"></span>s the definition of a bu<span class=\"_ _0\"></span>siness c<span class=\"_ _0\"></span>ombination un<span class=\"_ _0\"></span>der IFRS 3 Busin<span class=\"_ _0\"></span>ess C<span class=\"_ _0\"></span>ombinations<span class=\"_ _0\"></span>. IFRS 3<span class=\"_ _0\"></span>, and th<span class=\"_ _0\"></span>e use of acquis<span class=\"_ _0\"></span>ition acco<span class=\"_ _0\"></span>unting, d<span class=\"_ _0\"></span>oes not app<span class=\"_ _0\"></span>ly in circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s where the ac<span class=\"_ _0\"></span>quisition of an as<span class=\"_ _0\"></span>set or a group of as<span class=\"_ _0\"></span>sets d<span class=\"_ _0\"></span>oes not con<span class=\"_ _0\"></span>stitute a b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, and is in<span class=\"_ _0\"></span>stead a p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio of asse<span class=\"_ _0\"></span>ts and liabili<span class=\"_ _0\"></span>ties. In s<span class=\"_ _0\"></span>uch cas<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>olicy is to rec<span class=\"_ _0\"></span>ognise and m<span class=\"_ _0\"></span>easure the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s acquired a<span class=\"_ _0\"></span>nd liabilities a<span class=\"_ _0\"></span>ssume<span class=\"_ _0\"></span>d in accord<span class=\"_ _0\"></span>ance with th<span class=\"_ _0\"></span>e Group\u2019s accountin<span class=\"_ _0\"></span>g policies fo<span class=\"_ _0\"></span>r those as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>. The diffe<span class=\"_ _0\"></span>rence be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n the consid<span class=\"_ _0\"></span>eration an<span class=\"_ _0\"></span>d the net as<span class=\"_ _0\"></span>sets or lia<span class=\"_ _0\"></span>bilities acq<span class=\"_ _0\"></span>uired is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa8e\">The Gro<span class=\"_ _0\"></span>up class<span class=\"_ _0\"></span>ifies dispo<span class=\"_ _0\"></span>sal groups a<span class=\"_ _0\"></span>s held for sa<span class=\"_ _0\"></span>le if their car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mounts will b<span class=\"_ _0\"></span>e recovered p<span class=\"_ _0\"></span>rincipally th<span class=\"_ _0\"></span>rough a sal<span class=\"_ _0\"></span>e transa<span class=\"_ _0\"></span>ction rath<span class=\"_ _0\"></span>er than </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa8f\">throu<span class=\"_ _0\"></span>gh continuing u<span class=\"_ _0\"></span>se. Disp<span class=\"_ _0\"></span>osal gro<span class=\"_ _0\"></span>ups class<span class=\"_ _0\"></span>ified as hel<span class=\"_ _0\"></span>d for sale are me<span class=\"_ _0\"></span>asured at th<span class=\"_ _0\"></span>e lower of their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g amount an<span class=\"_ _0\"></span>d fair value les<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa90\">sell<span class=\"_ _0\"></span>. Cost<span class=\"_ _0\"></span>s to sell are the in<span class=\"_ _0\"></span>crement<span class=\"_ _0\"></span>al cost<span class=\"_ _0\"></span>s directl<span class=\"_ _0\"></span>y attribu<span class=\"_ _0\"></span>table to the dis<span class=\"_ _0\"></span>posal of the di<span class=\"_ _0\"></span>sposal g<span class=\"_ _0\"></span>roup, excluding fin<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>sts an<span class=\"_ _0\"></span>d income t<span class=\"_ _0\"></span>ax </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa91\">expe<span class=\"_ _0\"></span>nse. As<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale are prese<span class=\"_ _0\"></span>nted sep<span class=\"_ _0\"></span>arately in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al position<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa93\">As<span class=\"_ _0\"></span>sociates a<span class=\"_ _0\"></span>re entities over whic<span class=\"_ _0\"></span>h the Group ha<span class=\"_ _0\"></span>s significa<span class=\"_ _0\"></span>nt influenc<span class=\"_ _0\"></span>e, but which it d<span class=\"_ _0\"></span>oes not co<span class=\"_ _0\"></span>ntrol. Gene<span class=\"_ _0\"></span>rally it is pre<span class=\"_ _0\"></span>sumed th<span class=\"_ _0\"></span>at the Group ha<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa94\">signifi<span class=\"_ _0\"></span>cant influen<span class=\"_ _0\"></span>ce if it holds b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en 20% and 5<span class=\"_ _0\"></span>0% of the voting right<span class=\"_ _0\"></span>s of the entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in asso<span class=\"_ _0\"></span>ciates that are h<span class=\"_ _0\"></span>eld for investm<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa95\">purp<span class=\"_ _0\"></span>oses are ac<span class=\"_ _0\"></span>counted for un<span class=\"_ _0\"></span>der IFRS 9 </div><div class=\"t m13d h17d ff2 fseb fc3 sc0 ls1 ws1 gsa96\">Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s</div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa97\"> as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 </div><div class=\"t m13d h17d ff2 fseb fc3 sc0 ls1 ws1 gsa98\">Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures</div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa99\">. The<span class=\"_ _0\"></span>se are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa9a\">mea<span class=\"_ _0\"></span>sured at fair va<span class=\"_ _0\"></span>lue through p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>. Those h<span class=\"_ _0\"></span>eld for str<span class=\"_ _0\"></span>ategic purp<span class=\"_ _0\"></span>oses are a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r using the e<span class=\"_ _0\"></span>quity m<span class=\"_ _0\"></span>ethod of acc<span class=\"_ _0\"></span>ounting<span class=\"_ _0\"></span>. Under </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa9b\">the e<span class=\"_ _0\"></span>quity m<span class=\"_ _0\"></span>ethod, o<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition th<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment in an a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iate is recog<span class=\"_ _0\"></span>nised at c<span class=\"_ _0\"></span>ost. T<span class=\"_ _0\"></span>he carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>e is then update<span class=\"_ _0\"></span>d to reflec<span class=\"_ _0\"></span>t the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa9c\">Group\u2019s share of profit o<span class=\"_ _0\"></span>r loss of its a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ate and that sh<span class=\"_ _0\"></span>are is reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span></div>Equit<span class=\"_ _0\"></span>y-set<span class=\"_ _0\"></span>tled s<span class=\"_ _0\"></span>hare-b<span class=\"_ _0\"></span>ased paym<span class=\"_ _0\"></span>ents to emp<span class=\"_ _0\"></span>loyees are me<span class=\"_ _0\"></span>asured at th<span class=\"_ _0\"></span>e fair value of the e<span class=\"_ _0\"></span>quity in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts at the gr<span class=\"_ _0\"></span>ant date. The fair va<span class=\"_ _0\"></span>lue exclude<span class=\"_ _0\"></span>s the effe<span class=\"_ _0\"></span>ct of non-m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et-ba<span class=\"_ _0\"></span>sed ves<span class=\"_ _0\"></span>ting condi<span class=\"_ _0\"></span>tions. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails rega<span class=\"_ _0\"></span>rding the determ<span class=\"_ _0\"></span>ination of the fair va<span class=\"_ _0\"></span>lue of equit<span class=\"_ _0\"></span>y-set<span class=\"_ _0\"></span>tled share<span class=\"_ _0\"></span>-base<span class=\"_ _0\"></span>d trans<span class=\"_ _0\"></span>actions a<span class=\"_ _0\"></span>re set out be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value determin<span class=\"_ _0\"></span>ed at the gr<span class=\"_ _0\"></span>ant date of the equit<span class=\"_ _0\"></span>y-s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>d share<span class=\"_ _0\"></span>-based p<span class=\"_ _0\"></span>ayments is e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>d on a stra<span class=\"_ _0\"></span>ight-line basis over th<span class=\"_ _0\"></span>e vesting peri<span class=\"_ _0\"></span>od, bas<span class=\"_ _0\"></span>ed on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s es<span class=\"_ _0\"></span>timate of equit<span class=\"_ _0\"></span>y inst<span class=\"_ _0\"></span>ruments t<span class=\"_ _0\"></span>hat will eventuall<span class=\"_ _0\"></span>y v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st. At ea<span class=\"_ _0\"></span>ch perio<span class=\"_ _0\"></span>d end, the G<span class=\"_ _0\"></span>roup revises it<span class=\"_ _0\"></span>s estim<span class=\"_ _0\"></span>ate of the numb<span class=\"_ _0\"></span>er of equit<span class=\"_ _0\"></span>y instr<span class=\"_ _0\"></span>uments exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t of non-market-bas<span class=\"_ _0\"></span>ed vestin<span class=\"_ _0\"></span>g conditio<span class=\"_ _0\"></span>ns. The im<span class=\"_ _0\"></span>pact of the revi<span class=\"_ _0\"></span>sion of the origin<span class=\"_ _0\"></span>al estim<span class=\"_ _0\"></span>ates, if any, is reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment such t<span class=\"_ _0\"></span>hat the cumul<span class=\"_ _0\"></span>ative expens<span class=\"_ _0\"></span>e reflec<span class=\"_ _0\"></span>ts the revise<span class=\"_ _0\"></span>d estim<span class=\"_ _0\"></span>ate with a corre<span class=\"_ _0\"></span>spondin<span class=\"_ _0\"></span>g adjus<span class=\"_ _0\"></span>tment to equi<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span>Ope<span class=\"_ _0\"></span>rating c<span class=\"_ _0\"></span>ash flows incl<span class=\"_ _0\"></span>ude purcha<span class=\"_ _0\"></span>ses and s<span class=\"_ _0\"></span>ales of investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y and financ<span class=\"_ _0\"></span>ial investme<span class=\"_ _0\"></span>nts as the p<span class=\"_ _0\"></span>urchase<span class=\"_ _0\"></span>s are funde<span class=\"_ _0\"></span>d from cash fl<span class=\"_ _0\"></span>ows as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the origin<span class=\"_ _0\"></span>ation of insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, net of paym<span class=\"_ _0\"></span>ents of related b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s and claims<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing analys<span class=\"_ _0\"></span>is gives fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ail behind th<span class=\"_ _0\"></span>e \u2018<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ash (utilised<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ge<span class=\"_ _0\"></span>nerate<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 fig<span class=\"_ _0\"></span>ure in the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsba7\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt is base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of Solve<span class=\"_ _0\"></span>ncy II<span class=\"_ _0\"></span>, as modifi<span class=\"_ _0\"></span>ed by the PR<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _2\"></span>s 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 reforms (<span class=\"_ _0\"></span>\u2018So<span class=\"_ _0\"></span>lvency U<span class=\"_ _0\"></span>K\u2019). This involve<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsba8\">a<span class=\"_ gs47\"> </span>valuati<span class=\"_ _0\"></span>on of the Group\u2019s Own Funds an<span class=\"_ _0\"></span>d a risk<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ased a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s S<span class=\"_ _0\"></span>olvency Ca<span class=\"_ _0\"></span>pital Req<span class=\"_ _0\"></span>uirement (\u2018<span class=\"_ _0\"></span>SCR<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) in line with </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsba9\">Sol<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ncy UK r<span class=\"_ _0\"></span>ules.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbaa\">This note s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>pproach to ma<span class=\"_ _0\"></span>naging c<span class=\"_ _0\"></span>apital an<span class=\"_ _0\"></span>d provides an an<span class=\"_ _0\"></span>alysis of Own Fun<span class=\"_ _0\"></span>ds and SC<span class=\"_ _0\"></span>R.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc8\">This note a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>s the Group\u2019s other comm<span class=\"_ _0\"></span>itments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbca\">Where t<span class=\"_ _0\"></span>he Group has a p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e future oblig<span class=\"_ _0\"></span>ation as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a p<span class=\"_ _0\"></span>ast event<span class=\"_ _0\"></span>, or a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion but it is not p<span class=\"_ _0\"></span>robable that<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbcb\">there w<span class=\"_ _0\"></span>ill be an out<span class=\"_ _0\"></span>flow of resourc<span class=\"_ _0\"></span>es to set<span class=\"_ _0\"></span>tle the oblig<span class=\"_ _0\"></span>ation or the am<span class=\"_ _0\"></span>ount cann<span class=\"_ _0\"></span>ot be reliably e<span class=\"_ _0\"></span>stimate<span class=\"_ _0\"></span>d, this is disc<span class=\"_ _0\"></span>losed a<span class=\"_ _0\"></span>s a continge<span class=\"_ _0\"></span>nt liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbcd\">The fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are adjus<span class=\"_ _0\"></span>ted to refle<span class=\"_ _0\"></span>ct signific<span class=\"_ _0\"></span>ant events th<span class=\"_ _0\"></span>at have a material ef<span class=\"_ _0\"></span>fect on t<span class=\"_ _0\"></span>he financia<span class=\"_ _0\"></span>l results an<span class=\"_ _0\"></span>d that have oc<span class=\"_ _0\"></span>curred </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbce\">bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd and the da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e w<span class=\"_ _0\"></span>hen the finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements a<span class=\"_ _0\"></span>re authoris<span class=\"_ _0\"></span>ed for iss<span class=\"_ _0\"></span>ue, provide<span class=\"_ _0\"></span>d they give evide<span class=\"_ _0\"></span>nce of condit<span class=\"_ _0\"></span>ions that </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbcf\">exis<span class=\"_ _0\"></span>ted at the pe<span class=\"_ _0\"></span>riod end<span class=\"_ _0\"></span>. E<span class=\"_ _2\"></span>vent<span class=\"_ _0\"></span>s that are indic<span class=\"_ _0\"></span>ative of conditi<span class=\"_ _0\"></span>ons that aris<span class=\"_ _0\"></span>e after the p<span class=\"_ _0\"></span>eriod en<span class=\"_ _0\"></span>d that do not re<span class=\"_ _0\"></span>sult in an adju<span class=\"_ _0\"></span>stment to<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e financial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbd0\">st<span class=\"_ _0\"></span>atements a<span class=\"_ _0\"></span>re disclose<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-573": {
   "value": "A<span class=\"_ _2\"></span>1. Basis of preparation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents for the yea<span class=\"_ _0\"></span>r ended 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2024 set out o<span class=\"_ _0\"></span>n pages 1<span class=\"_ _0\"></span>90 to 31<span class=\"_ _0\"></span>0 compris<span class=\"_ _0\"></span>e the financ<span class=\"_ _0\"></span>ial state<span class=\"_ _0\"></span>ments of<span class=\"_ gs47\"> </span>Phoe<span class=\"_ _0\"></span>nix Group Hol<span class=\"_ _0\"></span>dings plc (<span class=\"_ _0\"></span>\u2018the Co<span class=\"_ _0\"></span>mpany\u2019<span class=\"_ _0\"></span>) and its sub<span class=\"_ _0\"></span>sidiaries (tog<span class=\"_ _0\"></span>ether referre<span class=\"_ _0\"></span>d to as \u2018the Gro<span class=\"_ _0\"></span>up\u2019) and we<span class=\"_ _0\"></span>re authoris<span class=\"_ _0\"></span>ed by the Boa<span class=\"_ _0\"></span>rd of<span class=\"_ gs47\"> </span>Direc<span class=\"_ _0\"></span>tors for iss<span class=\"_ _0\"></span>ue on 16<span class=\"_ gs47\"> </span>M<span class=\"_ _0\"></span>arch 2025<span class=\"_ _0\"></span>. The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>istorica<span class=\"_ _0\"></span>l cost c<span class=\"_ _0\"></span>onv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion except for inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, ow<span class=\"_ _0\"></span>ner-oc<span class=\"_ _0\"></span>cupied prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and tho<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s and finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s (includin<span class=\"_ _0\"></span>g derivative ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) th<span class=\"_ _0\"></span>at have been m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at fair value.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents are pre<span class=\"_ _0\"></span>sented in ste<span class=\"_ _0\"></span>rling (\u00a3) roun<span class=\"_ _0\"></span>ded to the ne<span class=\"_ _0\"></span>arest millio<span class=\"_ _0\"></span>n except where oth<span class=\"_ _0\"></span>erwi<span class=\"_ _0\"></span>se state<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>As<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities are of<span class=\"_ _0\"></span>fset an<span class=\"_ _0\"></span>d the net amo<span class=\"_ _0\"></span>unt repor<span class=\"_ _0\"></span>ted in the st<span class=\"_ _0\"></span>atement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>osition onl<span class=\"_ _0\"></span>y when there i<span class=\"_ _0\"></span>s a legally enforce<span class=\"_ _0\"></span>able right to of<span class=\"_ _0\"></span>fset the re c<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d amounts a<span class=\"_ _0\"></span>nd there is an inte<span class=\"_ _0\"></span>ntion to set<span class=\"_ _0\"></span>tle on a net bas<span class=\"_ _0\"></span>is, or to rea<span class=\"_ _0\"></span>lise the as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d settl<span class=\"_ _0\"></span>e the liabilit<span class=\"_ _0\"></span>y simult<span class=\"_ _0\"></span>aneou<span class=\"_ _0\"></span>sly<span class=\"_ _2\"></span>. In<span class=\"_ _0\"></span>come an<span class=\"_ _0\"></span>d expens<span class=\"_ _0\"></span>es are not off<span class=\"_ _0\"></span>set in the con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tatement un<span class=\"_ _0\"></span>less re<span class=\"_ _0\"></span>quired or pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by an Internation<span class=\"_ _0\"></span>al Financ<span class=\"_ _0\"></span>ial Repo<span class=\"_ _0\"></span>rting St<span class=\"_ _0\"></span>andard (<span class=\"_ _0\"></span>\u2018IFR<span class=\"_ _0\"></span>S\u2019<span class=\"_ _0\"></span>) or interpret<span class=\"_ _0\"></span>ation, as s<span class=\"_ _0\"></span>pecific<span class=\"_ _0\"></span>ally discl<span class=\"_ _0\"></span>osed in the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policies of th<span class=\"_ _0\"></span>e Group.<span class=\"_ _3bd\"> </span>Statement<span class=\"_ _2\"></span> of compliance<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d in acco<span class=\"_ _0\"></span>rdance with U<span class=\"_ _0\"></span>K<span class=\"_ _4\"></span>-a<span class=\"_ _0\"></span>dopted intern<span class=\"_ _0\"></span>ational ac<span class=\"_ _0\"></span>counting s<span class=\"_ _0\"></span>tandard<span class=\"_ _0\"></span>s (\u2018IA<span class=\"_ _0\"></span>Ss\u2019) and t<span class=\"_ _0\"></span>he leg<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents of the C<span class=\"_ _0\"></span>ompanies Ac<span class=\"_ _0\"></span>t 200<span class=\"_ _0\"></span>6.<span class=\"_ _3bd\"> </span>Basis of<span class=\"_ _2\"></span> cons<span class=\"_ _0\"></span>ol<span class=\"_ _2\"></span>idation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents incl<span class=\"_ _0\"></span>ude the finan<span class=\"_ _0\"></span>cial sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ments of the C<span class=\"_ _0\"></span>ompany and i<span class=\"_ _0\"></span>ts subsidia<span class=\"_ _0\"></span>ry und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>akings<span class=\"_ _0\"></span>, including c<span class=\"_ _0\"></span>ollec<span class=\"_ _0\"></span>tive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes<span class=\"_ _0\"></span>, where the Gro<span class=\"_ _0\"></span>up exercises over<span class=\"_ _0\"></span>all control. In a<span class=\"_ _0\"></span>ccorda<span class=\"_ _0\"></span>nce with the p<span class=\"_ _0\"></span>rinciples s<span class=\"_ _0\"></span>et out in IFR<span class=\"_ _0\"></span>S 10 Con<span class=\"_ _0\"></span>solidated F<span class=\"_ _0\"></span>inancial Statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, the Group c<span class=\"_ _0\"></span>ontrols an investe<span class=\"_ _0\"></span>e if and only if th<span class=\"_ _0\"></span>e Group has all of th<span class=\"_ _0\"></span>e following:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>powe<span class=\"_ _0\"></span>r ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the investee<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>exp<span class=\"_ _0\"></span>osure, or rig<span class=\"_ _0\"></span>hts, to vari<span class=\"_ _0\"></span>able returns f<span class=\"_ _0\"></span>rom its involveme<span class=\"_ _0\"></span>nt with the investe<span class=\"_ _0\"></span>e; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>bility to us<span class=\"_ _0\"></span>e its power over th<span class=\"_ _0\"></span>e investee to af<span class=\"_ _0\"></span>fect it<span class=\"_ _0\"></span>s returns<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>ers all releva<span class=\"_ _0\"></span>nt facts a<span class=\"_ _0\"></span>nd circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s in asse<span class=\"_ _0\"></span>ssing wh<span class=\"_ _0\"></span>ether it has p<span class=\"_ _0\"></span>ower over an investe<span class=\"_ _0\"></span>e, inclu<span class=\"_ _0\"></span>ding relevant ac<span class=\"_ _0\"></span>tivities<span class=\"_ _0\"></span>, subs<span class=\"_ _0\"></span>tantive and<span class=\"_ gs47\"> </span>prote<span class=\"_ _0\"></span>ctive right<span class=\"_ _0\"></span>s, voting rig<span class=\"_ _0\"></span>hts and pur<span class=\"_ _0\"></span>pose and d<span class=\"_ _0\"></span>esign of an investe<span class=\"_ _0\"></span>e. The Gro<span class=\"_ _0\"></span>up reass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s whether or n<span class=\"_ _0\"></span>ot it controls an inves<span class=\"_ _0\"></span>tee if fac<span class=\"_ _0\"></span>ts and circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces indic<span class=\"_ _0\"></span>ate that the<span class=\"_ _0\"></span>re are chang<span class=\"_ _0\"></span>es to one or more of th<span class=\"_ _0\"></span>e three ele<span class=\"_ _0\"></span>ments of cont<span class=\"_ _0\"></span>rol. Furthe<span class=\"_ _0\"></span>r details ab<span class=\"_ _0\"></span>out the con<span class=\"_ _0\"></span>solidation of subsi<span class=\"_ _0\"></span>diaries<span class=\"_ _0\"></span>, including c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment s<span class=\"_ _0\"></span>chemes<span class=\"_ _0\"></span>, are incl<span class=\"_ _0\"></span>uded in note H1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Going<span class=\"_ _2\"></span> concern<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d on a going c<span class=\"_ _0\"></span>oncern b<span class=\"_ _0\"></span>asis. T<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>tors have, at the tim<span class=\"_ _0\"></span>e of approving the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated finan<span class=\"_ _0\"></span>cial state<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, a reaso<span class=\"_ _0\"></span>nable exp<span class=\"_ _0\"></span>ectat<span class=\"_ _0\"></span>ion that the C<span class=\"_ _0\"></span>ompany and th<span class=\"_ _0\"></span>e Group have ade<span class=\"_ _0\"></span>quate reso<span class=\"_ _0\"></span>urces to contin<span class=\"_ _0\"></span>ue in operati<span class=\"_ _0\"></span>onal exis<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nce for the pe<span class=\"_ _0\"></span>riod covere<span class=\"_ _0\"></span>d by the ass<span class=\"_ _0\"></span>essme<span class=\"_ _0\"></span>nt having as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed the prin<span class=\"_ _0\"></span>cipal risks<span class=\"_ _0\"></span>, foreca<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, proje<span class=\"_ _0\"></span>ctions an<span class=\"_ _0\"></span>d other releva<span class=\"_ _0\"></span>nt evidence fo<span class=\"_ _0\"></span>r a period of at le<span class=\"_ _0\"></span>ast, but n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t lim<span class=\"_ _0\"></span>ited to, 12 month<span class=\"_ _0\"></span>s from the date of approva<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s, usin<span class=\"_ _0\"></span>g the information ava<span class=\"_ _0\"></span>ilable up to the date of iss<span class=\"_ _0\"></span>ue of this Annual Re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>t and Acco<span class=\"_ _0\"></span>unts. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails of the going c<span class=\"_ _0\"></span>oncern a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment are in<span class=\"_ _0\"></span>cluded in<span class=\"_ gs47\"> </span>t<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rs\u2019 Repor<span class=\"_ _0\"></span>t on pag<span class=\"_ _0\"></span>e 16<span class=\"_ _0\"></span>8.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-2": {
   "value": "Phoenix Group Holdings plc",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-613": {
   "value": "The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents are pre<span class=\"_ _0\"></span>sented in ste<span class=\"_ _0\"></span>rling (\u00a3) roun<span class=\"_ _0\"></span>ded to the ne<span class=\"_ _0\"></span>arest millio<span class=\"_ _0\"></span>n except where oth<span class=\"_ _0\"></span>erwi<span class=\"_ _0\"></span>se state<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-614": {
   "value": "Statement<span class=\"_ _2\"></span> of compliance<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d in acco<span class=\"_ _0\"></span>rdance with U<span class=\"_ _0\"></span>K<span class=\"_ _4\"></span>-a<span class=\"_ _0\"></span>dopted intern<span class=\"_ _0\"></span>ational ac<span class=\"_ _0\"></span>counting s<span class=\"_ _0\"></span>tandard<span class=\"_ _0\"></span>s (\u2018IA<span class=\"_ _0\"></span>Ss\u2019) and t<span class=\"_ _0\"></span>he leg<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents of the C<span class=\"_ _0\"></span>ompanies Ac<span class=\"_ _0\"></span>t 200<span class=\"_ _0\"></span>6.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-615": {
   "value": "Basis of<span class=\"_ _2\"></span> cons<span class=\"_ _0\"></span>ol<span class=\"_ _2\"></span>idation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents incl<span class=\"_ _0\"></span>ude the finan<span class=\"_ _0\"></span>cial sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ments of the C<span class=\"_ _0\"></span>ompany and i<span class=\"_ _0\"></span>ts subsidia<span class=\"_ _0\"></span>ry und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>akings<span class=\"_ _0\"></span>, including c<span class=\"_ _0\"></span>ollec<span class=\"_ _0\"></span>tive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes<span class=\"_ _0\"></span>, where the Gro<span class=\"_ _0\"></span>up exercises over<span class=\"_ _0\"></span>all control. In a<span class=\"_ _0\"></span>ccorda<span class=\"_ _0\"></span>nce with the p<span class=\"_ _0\"></span>rinciples s<span class=\"_ _0\"></span>et out in IFR<span class=\"_ _0\"></span>S 10 Con<span class=\"_ _0\"></span>solidated F<span class=\"_ _0\"></span>inancial Statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, the Group c<span class=\"_ _0\"></span>ontrols an investe<span class=\"_ _0\"></span>e if and only if th<span class=\"_ _0\"></span>e Group has all of th<span class=\"_ _0\"></span>e following:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>powe<span class=\"_ _0\"></span>r ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the investee<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>exp<span class=\"_ _0\"></span>osure, or rig<span class=\"_ _0\"></span>hts, to vari<span class=\"_ _0\"></span>able returns f<span class=\"_ _0\"></span>rom its involveme<span class=\"_ _0\"></span>nt with the investe<span class=\"_ _0\"></span>e; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>bility to us<span class=\"_ _0\"></span>e its power over th<span class=\"_ _0\"></span>e investee to af<span class=\"_ _0\"></span>fect it<span class=\"_ _0\"></span>s returns<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>ers all releva<span class=\"_ _0\"></span>nt facts a<span class=\"_ _0\"></span>nd circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s in asse<span class=\"_ _0\"></span>ssing wh<span class=\"_ _0\"></span>ether it has p<span class=\"_ _0\"></span>ower over an investe<span class=\"_ _0\"></span>e, inclu<span class=\"_ _0\"></span>ding relevant ac<span class=\"_ _0\"></span>tivities<span class=\"_ _0\"></span>, subs<span class=\"_ _0\"></span>tantive and<span class=\"_ gs47\"> </span>prote<span class=\"_ _0\"></span>ctive right<span class=\"_ _0\"></span>s, voting rig<span class=\"_ _0\"></span>hts and pur<span class=\"_ _0\"></span>pose and d<span class=\"_ _0\"></span>esign of an investe<span class=\"_ _0\"></span>e. The Gro<span class=\"_ _0\"></span>up reass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s whether or n<span class=\"_ _0\"></span>ot it controls an inves<span class=\"_ _0\"></span>tee if fac<span class=\"_ _0\"></span>ts and circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces indic<span class=\"_ _0\"></span>ate that the<span class=\"_ _0\"></span>re are chang<span class=\"_ _0\"></span>es to one or more of th<span class=\"_ _0\"></span>e three ele<span class=\"_ _0\"></span>ments of cont<span class=\"_ _0\"></span>rol. Furthe<span class=\"_ _0\"></span>r details ab<span class=\"_ _0\"></span>out the con<span class=\"_ _0\"></span>solidation of subsi<span class=\"_ _0\"></span>diaries<span class=\"_ _0\"></span>, including c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment s<span class=\"_ _0\"></span>chemes<span class=\"_ _0\"></span>, are incl<span class=\"_ _0\"></span>uded in note H1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-616": {
   "value": "Going<span class=\"_ _2\"></span> concern<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents have be<span class=\"_ _0\"></span>en prepare<span class=\"_ _0\"></span>d on a going c<span class=\"_ _0\"></span>oncern b<span class=\"_ _0\"></span>asis. T<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>tors have, at the tim<span class=\"_ _0\"></span>e of approving the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated finan<span class=\"_ _0\"></span>cial state<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, a reaso<span class=\"_ _0\"></span>nable exp<span class=\"_ _0\"></span>ectat<span class=\"_ _0\"></span>ion that the C<span class=\"_ _0\"></span>ompany and th<span class=\"_ _0\"></span>e Group have ade<span class=\"_ _0\"></span>quate reso<span class=\"_ _0\"></span>urces to contin<span class=\"_ _0\"></span>ue in operati<span class=\"_ _0\"></span>onal exis<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nce for the pe<span class=\"_ _0\"></span>riod covere<span class=\"_ _0\"></span>d by the ass<span class=\"_ _0\"></span>essme<span class=\"_ _0\"></span>nt having as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed the prin<span class=\"_ _0\"></span>cipal risks<span class=\"_ _0\"></span>, foreca<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, proje<span class=\"_ _0\"></span>ctions an<span class=\"_ _0\"></span>d other releva<span class=\"_ _0\"></span>nt evidence fo<span class=\"_ _0\"></span>r a period of at le<span class=\"_ _0\"></span>ast, but n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t lim<span class=\"_ _0\"></span>ited to, 12 month<span class=\"_ _0\"></span>s from the date of approva<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s, usin<span class=\"_ _0\"></span>g the information ava<span class=\"_ _0\"></span>ilable up to the date of iss<span class=\"_ _0\"></span>ue of this Annual Re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>t and Acco<span class=\"_ _0\"></span>unts. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails of the going c<span class=\"_ _0\"></span>oncern a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment are in<span class=\"_ _0\"></span>cluded in<span class=\"_ gs47\"> </span>t<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rs\u2019 Repor<span class=\"_ _0\"></span>t on pag<span class=\"_ _0\"></span>e 16<span class=\"_ _0\"></span>8.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-617": {
   "value": "A2<span class=\"_ _0\"></span>. Adoption of new acco<span class=\"_ _0\"></span>un<span class=\"_ _2\"></span>tin<span class=\"_ _0\"></span>g pronouncem<span class=\"_ _0\"></span>ents in 2024<span class=\"_ _3bd\"> </span>In prep<span class=\"_ _0\"></span>aring the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l stateme<span class=\"_ _0\"></span>nts, t<span class=\"_ _0\"></span>he Group has a<span class=\"_ _0\"></span>dopted the foll<span class=\"_ _0\"></span>owing amen<span class=\"_ _0\"></span>dments to s<span class=\"_ _0\"></span>tandard<span class=\"_ _0\"></span>s effec<span class=\"_ _0\"></span>tive from 1 Januar<span class=\"_ _0\"></span>y 2024 and whi<span class=\"_ _0\"></span>ch have been e<span class=\"_ _0\"></span>ndors<span class=\"_ _0\"></span>ed by the UK En<span class=\"_ _0\"></span>dorse<span class=\"_ _0\"></span>ment Board (<span class=\"_ _0\"></span>\u2018U<span class=\"_ _0\"></span>KEB\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>upplier Fina<span class=\"_ _0\"></span>nce Arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s (Amen<span class=\"_ _0\"></span>dments to IA<span class=\"_ _0\"></span>S 7 &amp; IFRS 7<span class=\"_ _0\"></span>); \u2022 <span class=\"_ _19\"> </span>Lea<span class=\"_ _0\"></span>se Liabilit<span class=\"_ _0\"></span>y in a Sale an<span class=\"_ _0\"></span>d L<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>aseba<span class=\"_ _0\"></span>ck (Ame<span class=\"_ _0\"></span>ndments to I<span class=\"_ _0\"></span>FRS 16<span class=\"_ _0\"></span>);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Cla<span class=\"_ _0\"></span>ssificat<span class=\"_ _0\"></span>ion of Liabilities as C<span class=\"_ _0\"></span>urrent or Non-<span class=\"_ _0\"></span>Current (<span class=\"_ _0\"></span>Amendm<span class=\"_ _0\"></span>ents to IAS 1); a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>No<span class=\"_ _0\"></span>n-current Liab<span class=\"_ _0\"></span>ilities with C<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>nants (Am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to IAS 1).<span class=\"_ _3bd\"> </span>Non<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e above amen<span class=\"_ _0\"></span>dments to s<span class=\"_ _0\"></span>tandards a<span class=\"_ _0\"></span>re conside<span class=\"_ _0\"></span>red to have a materia<span class=\"_ _0\"></span>l effec<span class=\"_ _0\"></span>t on these c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s not ea<span class=\"_ _0\"></span>rly adopted a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y oth<span class=\"_ _0\"></span>er stan<span class=\"_ _0\"></span>dard, interp<span class=\"_ _0\"></span>retation or am<span class=\"_ _0\"></span>endment th<span class=\"_ _0\"></span>at has be<span class=\"_ _0\"></span>en issu<span class=\"_ _0\"></span>ed but is not yet ef<span class=\"_ _0\"></span>fecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-574": {
   "value": "A2<span class=\"_ _0\"></span>. Adoption of new acco<span class=\"_ _0\"></span>un<span class=\"_ _2\"></span>tin<span class=\"_ _0\"></span>g pronouncem<span class=\"_ _0\"></span>ents in 2024<span class=\"_ _3bd\"> </span>In prep<span class=\"_ _0\"></span>aring the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l stateme<span class=\"_ _0\"></span>nts, t<span class=\"_ _0\"></span>he Group has a<span class=\"_ _0\"></span>dopted the foll<span class=\"_ _0\"></span>owing amen<span class=\"_ _0\"></span>dments to s<span class=\"_ _0\"></span>tandard<span class=\"_ _0\"></span>s effec<span class=\"_ _0\"></span>tive from 1 Januar<span class=\"_ _0\"></span>y 2024 and whi<span class=\"_ _0\"></span>ch have been e<span class=\"_ _0\"></span>ndors<span class=\"_ _0\"></span>ed by the UK En<span class=\"_ _0\"></span>dorse<span class=\"_ _0\"></span>ment Board (<span class=\"_ _0\"></span>\u2018U<span class=\"_ _0\"></span>KEB\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>upplier Fina<span class=\"_ _0\"></span>nce Arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s (Amen<span class=\"_ _0\"></span>dments to IA<span class=\"_ _0\"></span>S 7 &amp; IFRS 7<span class=\"_ _0\"></span>); \u2022 <span class=\"_ _19\"> </span>Lea<span class=\"_ _0\"></span>se Liabilit<span class=\"_ _0\"></span>y in a Sale an<span class=\"_ _0\"></span>d L<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>aseba<span class=\"_ _0\"></span>ck (Ame<span class=\"_ _0\"></span>ndments to I<span class=\"_ _0\"></span>FRS 16<span class=\"_ _0\"></span>);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Cla<span class=\"_ _0\"></span>ssificat<span class=\"_ _0\"></span>ion of Liabilities as C<span class=\"_ _0\"></span>urrent or Non-<span class=\"_ _0\"></span>Current (<span class=\"_ _0\"></span>Amendm<span class=\"_ _0\"></span>ents to IAS 1); a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>No<span class=\"_ _0\"></span>n-current Liab<span class=\"_ _0\"></span>ilities with C<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>nants (Am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to IAS 1).<span class=\"_ _3bd\"> </span>Non<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e above amen<span class=\"_ _0\"></span>dments to s<span class=\"_ _0\"></span>tandards a<span class=\"_ _0\"></span>re conside<span class=\"_ _0\"></span>red to have a materia<span class=\"_ _0\"></span>l effec<span class=\"_ _0\"></span>t on these c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s not ea<span class=\"_ _0\"></span>rly adopted a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y oth<span class=\"_ _0\"></span>er stan<span class=\"_ _0\"></span>dard, interp<span class=\"_ _0\"></span>retation or am<span class=\"_ _0\"></span>endment th<span class=\"_ _0\"></span>at has be<span class=\"_ _0\"></span>en issu<span class=\"_ _0\"></span>ed but is not yet ef<span class=\"_ _0\"></span>fecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A6. New a<span class=\"_ _0\"></span>ccounting pr<span class=\"_ _0\"></span>onouncem<span class=\"_ _0\"></span>ents not yet ef<span class=\"_ _0\"></span>fective<span class=\"_ _3bd\"> </span>The IAS<span class=\"_ _0\"></span>B has is<span class=\"_ _0\"></span>sued th<span class=\"_ _0\"></span>e f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>llowing sta<span class=\"_ _0\"></span>ndards or am<span class=\"_ _0\"></span>ended s<span class=\"_ _0\"></span>tanda<span class=\"_ _0\"></span>rds and interpret<span class=\"_ _0\"></span>ations whic<span class=\"_ _0\"></span>h apply from the d<span class=\"_ _0\"></span>ates shown<span class=\"_ _0\"></span>. The Group ha<span class=\"_ _0\"></span>s decide<span class=\"_ _0\"></span>d not to ear<span class=\"_ _0\"></span>ly adopt any of thes<span class=\"_ _0\"></span>e stan<span class=\"_ _0\"></span>dards, a<span class=\"_ _0\"></span>mendme<span class=\"_ _0\"></span>nts or interpret<span class=\"_ _0\"></span>ations whe<span class=\"_ _0\"></span>re this is permi<span class=\"_ _0\"></span>tted<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Lac<span class=\"_ _0\"></span>k of Exc<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>eabili<span class=\"_ _0\"></span>ty (Am<span class=\"_ _0\"></span>endm<span class=\"_ _0\"></span>ents to IA<span class=\"_ _0\"></span>S 21 The Ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of Chan<span class=\"_ _0\"></span>ges in Fore<span class=\"_ _0\"></span>ign Exc<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>e Rates) (1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2025<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s clarif<span class=\"_ _0\"></span>y how an entit<span class=\"_ _0\"></span>y sho<span class=\"_ _0\"></span>uld asse<span class=\"_ _0\"></span>ss wheth<span class=\"_ _0\"></span>er a curren<span class=\"_ _0\"></span>cy is exchan<span class=\"_ _0\"></span>geable an<span class=\"_ _0\"></span>d how it sho<span class=\"_ _0\"></span>uld determine a s<span class=\"_ _0\"></span>pot exchang<span class=\"_ _0\"></span>e rate when exchan<span class=\"_ _0\"></span>geabilit<span class=\"_ _0\"></span>y is lac<span class=\"_ _0\"></span>king, a<span class=\"_ _0\"></span>s well as require th<span class=\"_ _0\"></span>e disclosure of inform<span class=\"_ _0\"></span>ation that en<span class=\"_ _0\"></span>ables use<span class=\"_ _0\"></span>rs of financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents to unde<span class=\"_ _0\"></span>rsta<span class=\"_ _0\"></span>nd the impac<span class=\"_ _0\"></span>t of a curren<span class=\"_ _0\"></span>cy not be<span class=\"_ _0\"></span>ing exchang<span class=\"_ _0\"></span>eable. T<span class=\"_ _0\"></span>hese ame<span class=\"_ _0\"></span>ndment<span class=\"_ _0\"></span>s are not expe<span class=\"_ _0\"></span>cted to have any impa<span class=\"_ _0\"></span>ct on the G<span class=\"_ _0\"></span>roup.<span class=\"_ _3bd\"> </span>Ame<span class=\"_ _0\"></span>ndme<span class=\"_ _0\"></span>nts to th<span class=\"_ _0\"></span>e Class<span class=\"_ _0\"></span>ificat<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d Measu<span class=\"_ _0\"></span>reme<span class=\"_ _0\"></span>nt of Finan<span class=\"_ _0\"></span>cial I<span class=\"_ _0\"></span>nstr<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s \u2013 Amend<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s to IFRS 9 an<span class=\"_ _0\"></span>d IFRS 7 (1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y 2026<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span>The IAS<span class=\"_ _0\"></span>B issu<span class=\"_ _0\"></span>ed targ<span class=\"_ _0\"></span>eted amen<span class=\"_ _0\"></span>dments to I<span class=\"_ _0\"></span>FRS 9 and IFR<span class=\"_ _0\"></span>S 7 to respond to re<span class=\"_ _0\"></span>cent que<span class=\"_ _0\"></span>stions ari<span class=\"_ _0\"></span>sing in prac<span class=\"_ _0\"></span>tice. Th<span class=\"_ _0\"></span>ese amen<span class=\"_ _0\"></span>dments<span class=\"_ _0\"></span>: \u2022 <span class=\"_ _19\"> </span>cla<span class=\"_ _0\"></span>rify the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion and dere<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion of some finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, with a new exce<span class=\"_ _0\"></span>ption for some fin<span class=\"_ _0\"></span>ancial liab<span class=\"_ _0\"></span>ilities set<span class=\"_ _0\"></span>tled throu<span class=\"_ _0\"></span>gh an elec<span class=\"_ _0\"></span>tronic ca<span class=\"_ _0\"></span>sh transfe<span class=\"_ _0\"></span>r system; \u2022 <span class=\"_ _19\"> </span>cla<span class=\"_ _0\"></span>rify an<span class=\"_ _0\"></span>d add fur<span class=\"_ _0\"></span>ther guid<span class=\"_ _0\"></span>ance for as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sing whethe<span class=\"_ _0\"></span>r a financial a<span class=\"_ _0\"></span>sset m<span class=\"_ _0\"></span>eets th<span class=\"_ _0\"></span>e solely paym<span class=\"_ _0\"></span>ents of princ<span class=\"_ _0\"></span>ipal and intere<span class=\"_ _0\"></span>st (\u2018<span class=\"_ _0\"></span>SPPI<span class=\"_ _0\"></span>\u2019) cri<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rion; \u2022 <span class=\"_ _19\"> </span>ad<span class=\"_ _0\"></span>d new disclo<span class=\"_ _0\"></span>sures for cer<span class=\"_ _0\"></span>tain ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s with contr<span class=\"_ _0\"></span>actual te<span class=\"_ _0\"></span>rms that c<span class=\"_ _0\"></span>an chang<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>uch as som<span class=\"_ _0\"></span>e financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts with feat<span class=\"_ _0\"></span>ures linked to the ac<span class=\"_ _0\"></span>hievement of environ<span class=\"_ _0\"></span>ment, so<span class=\"_ _0\"></span>cial and g<span class=\"_ _0\"></span>overnanc<span class=\"_ _0\"></span>e target<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>); a<span class=\"_ _0\"></span>nd \u2022 <span class=\"_ _19\"> </span>upd<span class=\"_ _0\"></span>ate the disclo<span class=\"_ _0\"></span>sures for equi<span class=\"_ _0\"></span>ty ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d at fair value th<span class=\"_ _0\"></span>rough other c<span class=\"_ _0\"></span>omprehe<span class=\"_ _0\"></span>nsive incom<span class=\"_ _0\"></span>e (\u2018F<span class=\"_ _0\"></span>V<span class=\"_ _2\"></span>O<span class=\"_ _0\"></span>CI\u2019<span class=\"_ _0\"></span>). The Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect t<span class=\"_ _0\"></span>hese am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to have a material imp<span class=\"_ _0\"></span>act on it<span class=\"_ _0\"></span>s operatio<span class=\"_ _0\"></span>ns or cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Annual Impro<span class=\"_ _2\"></span>vements to IF<span class=\"_ _2\"></span>RS Accounting S<span class=\"_ _2\"></span>tandards \u2014 V<span class=\"_ _2\"></span>olume 11<span class=\"_ _2\"></span> (1 January 2026)<span class=\"_ _3bd\"> </span>As par<span class=\"_ _0\"></span>t of the IAS<span class=\"_ _0\"></span>B\u2019s Annual Im<span class=\"_ _0\"></span>provements p<span class=\"_ _0\"></span>roces<span class=\"_ _0\"></span>s it has is<span class=\"_ _0\"></span>sued mino<span class=\"_ _0\"></span>r amendme<span class=\"_ _0\"></span>nts to addre<span class=\"_ _0\"></span>ss potential a<span class=\"_ _0\"></span>reas of confus<span class=\"_ _0\"></span>ion within the followin<span class=\"_ _0\"></span>g st<span class=\"_ _0\"></span>andards: I<span class=\"_ _0\"></span>FRS 1 Firs<span class=\"_ _0\"></span>t-<span class=\"_ _2\"></span>tim<span class=\"_ _0\"></span>e Adoption of Intern<span class=\"_ _0\"></span>ational Fin<span class=\"_ _0\"></span>ancial Rep<span class=\"_ _0\"></span>ortin<span class=\"_ _0\"></span>g Standa<span class=\"_ _0\"></span>rds \u2013 hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing by a first-time a<span class=\"_ _0\"></span>dopter); IFRS 7 F<span class=\"_ _0\"></span>inancial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s: Discl<span class=\"_ _0\"></span>osures \u2013 gain o<span class=\"_ _0\"></span>r loss on de<span class=\"_ _0\"></span>recogn<span class=\"_ _0\"></span>ition and cla<span class=\"_ _0\"></span>rification<span class=\"_ _0\"></span>s within implem<span class=\"_ _0\"></span>entation g<span class=\"_ _0\"></span>uidance; I<span class=\"_ _0\"></span>FRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s \u2013 lesse<span class=\"_ _0\"></span>e dere<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f l<span class=\"_ _0\"></span>ease liabili<span class=\"_ _0\"></span>ties and tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ion price; I<span class=\"_ _0\"></span>FRS 10 Co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d Financi<span class=\"_ _0\"></span>al Stateme<span class=\"_ _0\"></span>nts \u2013 determin<span class=\"_ _0\"></span>ation of a \u2019d<span class=\"_ _0\"></span>e facto ag<span class=\"_ _0\"></span>ent\u2019; and IAS 7 Statem<span class=\"_ _0\"></span>ent of Cash Flow<span class=\"_ _0\"></span>s \u2013 cost me<span class=\"_ _0\"></span>thod. The Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect t<span class=\"_ _0\"></span>hese am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to have a material imp<span class=\"_ _0\"></span>act on it<span class=\"_ _0\"></span>s operatio<span class=\"_ _0\"></span>ns or cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>IFRS 18 P<span class=\"_ _2\"></span>resentation and Disclosur<span class=\"_ _2\"></span>e in Financial S<span class=\"_ _2\"></span>tatements (1 J<span class=\"_ _2\"></span>anuar<span class=\"_ _0\"></span>y 20<span class=\"_ _2\"></span>27)<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>ew stand<span class=\"_ _0\"></span>ard will replac<span class=\"_ _0\"></span>e IAS 1 Present<span class=\"_ _0\"></span>ation of financ<span class=\"_ _0\"></span>ial statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, introducin<span class=\"_ _0\"></span>g new requirem<span class=\"_ _0\"></span>ents tha<span class=\"_ _0\"></span>t will help to achieve c<span class=\"_ _0\"></span>omparabili<span class=\"_ _0\"></span>ty of<span class=\"_ gs47\"> </span>the finan<span class=\"_ _0\"></span>cial per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e of similar entitie<span class=\"_ _0\"></span>s and provide mo<span class=\"_ _0\"></span>re relevant informatio<span class=\"_ _0\"></span>n and trans<span class=\"_ _0\"></span>parency to u<span class=\"_ _0\"></span>sers<span class=\"_ _0\"></span>. Ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n though I<span class=\"_ _0\"></span>FRS 18 will not im<span class=\"_ _0\"></span>pact th<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>ognition or m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of items in the fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s, it<span class=\"_ _0\"></span>s impact<span class=\"_ _0\"></span>s on prese<span class=\"_ _0\"></span>ntation and dis<span class=\"_ _0\"></span>closure are ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d to be per<span class=\"_ _0\"></span>vasive, par<span class=\"_ _0\"></span>ticularl<span class=\"_ _0\"></span>y those rel<span class=\"_ _0\"></span>ated to the st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce and the ide<span class=\"_ _0\"></span>ntification a<span class=\"_ _0\"></span>nd disclo<span class=\"_ _0\"></span>sure of manag<span class=\"_ _0\"></span>ement-defin<span class=\"_ _0\"></span>ed per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e mea<span class=\"_ _0\"></span>sures within th<span class=\"_ _0\"></span>e financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment is curre<span class=\"_ _0\"></span>ntly asse<span class=\"_ _0\"></span>ssing th<span class=\"_ _0\"></span>e detaile<span class=\"_ _0\"></span>d implication<span class=\"_ _0\"></span>s of applying th<span class=\"_ _0\"></span>e new sta<span class=\"_ _0\"></span>ndard on the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s. From the high<span class=\"_ _0\"></span>-level prelimin<span class=\"_ _0\"></span>ary as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d, the followin<span class=\"_ _0\"></span>g potential impa<span class=\"_ _0\"></span>cts have b<span class=\"_ _0\"></span>een identi<span class=\"_ _0\"></span>fied: \u2022 <span class=\"_ _19\"> </span>Alth<span class=\"_ _0\"></span>ough the a<span class=\"_ _0\"></span>doption of IFRS 1<span class=\"_ _0\"></span>8 will have no impa<span class=\"_ _0\"></span>ct on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s net p<span class=\"_ _0\"></span>rofit, the Gro<span class=\"_ _0\"></span>up expec<span class=\"_ _0\"></span>ts that gro<span class=\"_ _0\"></span>uping items of inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt int<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e new cate<span class=\"_ _0\"></span>gories will im<span class=\"_ _0\"></span>pact how o<span class=\"_ _0\"></span>perating p<span class=\"_ _0\"></span>rofit is calc<span class=\"_ _0\"></span>ulated and rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d. For example<span class=\"_ _0\"></span>, the Group is likely to spe<span class=\"_ _0\"></span>cify inves<span class=\"_ _0\"></span>ting ac<span class=\"_ _0\"></span>tivities as a m<span class=\"_ _0\"></span>ain busines<span class=\"_ _0\"></span>s activ<span class=\"_ _0\"></span>ity whic<span class=\"_ _0\"></span>h will result in inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>enses f<span class=\"_ _0\"></span>rom inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting ac<span class=\"_ _0\"></span>tivities b<span class=\"_ _0\"></span>eing group<span class=\"_ _0\"></span>ed within th<span class=\"_ _0\"></span>e operatin<span class=\"_ _0\"></span>g catego<span class=\"_ _0\"></span>ry of the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt, rathe<span class=\"_ _0\"></span>r than in the inves<span class=\"_ _0\"></span>ting cate<span class=\"_ _0\"></span>gor<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Furth<span class=\"_ _0\"></span>ermore, t<span class=\"_ _0\"></span>he line items in th<span class=\"_ _0\"></span>e prima<span class=\"_ _0\"></span>ry finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements m<span class=\"_ _0\"></span>ight chang<span class=\"_ _0\"></span>e to achieve the o<span class=\"_ _0\"></span>bjec<span class=\"_ _0\"></span>tive of a \u2018<span class=\"_ _2\"></span>us<span class=\"_ _0\"></span>eful struc<span class=\"_ _0\"></span>tured s<span class=\"_ _0\"></span>ummar<span class=\"_ _0\"></span>y\u2019 as<span class=\"_ gs47\"> </span>define<span class=\"_ _0\"></span>d in IFRS 18<span class=\"_ _0\"></span>, and th<span class=\"_ _0\"></span>e Group may cho<span class=\"_ _0\"></span>ose to inclu<span class=\"_ _0\"></span>de addition<span class=\"_ _0\"></span>al sub-totals<span class=\"_ _0\"></span>, where p<span class=\"_ _0\"></span>ermit<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d, in order to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>de more unde<span class=\"_ _0\"></span>rstan<span class=\"_ _0\"></span>dable informati<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Alte<span class=\"_ _0\"></span>rnative Perfor<span class=\"_ _0\"></span>mance M<span class=\"_ _0\"></span>easure (<span class=\"_ _0\"></span>\u2018<span class=\"_ _4\"></span>APM<span class=\"_ _0\"></span>\u2019) of a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is cons<span class=\"_ _0\"></span>idered to me<span class=\"_ _0\"></span>et the definit<span class=\"_ _0\"></span>ion in IFRS 1<span class=\"_ _0\"></span>8 o<span class=\"_ _2\"></span>f a man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt -defined p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance me<span class=\"_ _0\"></span>asure and wh<span class=\"_ _0\"></span>ilst the Gro<span class=\"_ _0\"></span>up currently provi<span class=\"_ _0\"></span>des subst<span class=\"_ _0\"></span>antial informati<span class=\"_ _0\"></span>on about ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit, inclu<span class=\"_ _0\"></span>ding a recon<span class=\"_ _0\"></span>ciliation to the m<span class=\"_ _0\"></span>ost direc<span class=\"_ _0\"></span>tly comp<span class=\"_ _0\"></span>arable total in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment, I<span class=\"_ _0\"></span>FRS 18 co<span class=\"_ _0\"></span>ntains more pre<span class=\"_ _0\"></span>scriptive discl<span class=\"_ _0\"></span>osure require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>ere will be t<span class=\"_ _0\"></span>wo new define<span class=\"_ _0\"></span>d sub-totals in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent; ope<span class=\"_ _0\"></span>rating profit an<span class=\"_ _0\"></span>d profit before fina<span class=\"_ _0\"></span>ncing and in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes. \u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Group does n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>t there to be a sig<span class=\"_ _0\"></span>nificant ch<span class=\"_ _0\"></span>ange in the inform<span class=\"_ _0\"></span>ation that is c<span class=\"_ _0\"></span>urrently disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e notes bec<span class=\"_ _0\"></span>ause th<span class=\"_ _0\"></span>e requireme<span class=\"_ _0\"></span>nt to discl<span class=\"_ _0\"></span>ose materia<span class=\"_ _0\"></span>l inf<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rmation rema<span class=\"_ _0\"></span>ins unchan<span class=\"_ _0\"></span>ged; howeve<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, the way in whic<span class=\"_ _0\"></span>h the information is g<span class=\"_ _0\"></span>rouped mi<span class=\"_ _0\"></span>ght chang<span class=\"_ _0\"></span>e as a result of the e<span class=\"_ _0\"></span>nhance<span class=\"_ _0\"></span>d agg<span class=\"_ _0\"></span>regatio<span class=\"_ _0\"></span>n/<span class=\"_ _4\"></span>dis<span class=\"_ _0\"></span>aggre<span class=\"_ _0\"></span>gation prin<span class=\"_ _0\"></span>ciples<span class=\"_ _0\"></span>, part<span class=\"_ _0\"></span>icularly for ite<span class=\"_ _0\"></span>ms currently la<span class=\"_ _0\"></span>belled a<span class=\"_ _0\"></span>s \u2018<span class=\"_ _2\"></span>othe<span class=\"_ _0\"></span>r\u2019<span class=\"_ _4\"></span>. For th<span class=\"_ _0\"></span>e first an<span class=\"_ _0\"></span>nual perio<span class=\"_ _0\"></span>d of applicati<span class=\"_ _0\"></span>on of IFRS 18<span class=\"_ _0\"></span>, a rec<span class=\"_ _0\"></span>onciliation for e<span class=\"_ _0\"></span>ach line item in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e restate<span class=\"_ _0\"></span>d amounts p<span class=\"_ _0\"></span>resented by a<span class=\"_ _0\"></span>pplying I<span class=\"_ _0\"></span>FRS 18 and t<span class=\"_ _0\"></span>he amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly prese<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d applyin<span class=\"_ _0\"></span>g IAS 1. \u2022 <span class=\"_ _19\"> </span>From a cas<span class=\"_ _0\"></span>h flow state<span class=\"_ _0\"></span>ment per<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive, the Gro<span class=\"_ _0\"></span>up is required to us<span class=\"_ _0\"></span>e the oper<span class=\"_ _0\"></span>ating profit sub<span class=\"_ _0\"></span>-t<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al as a sta<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>oint for the st<span class=\"_ _0\"></span>atement of ca<span class=\"_ _0\"></span>sh flows wh<span class=\"_ _0\"></span>en prese<span class=\"_ _0\"></span>nting opera<span class=\"_ _0\"></span>ting cash fl<span class=\"_ _0\"></span>ows under th<span class=\"_ _0\"></span>e indirect m<span class=\"_ _0\"></span>ethod.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up will apply th<span class=\"_ _0\"></span>e new stan<span class=\"_ _0\"></span>dard from it<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>y effe<span class=\"_ _0\"></span>ctive date of 1 Janu<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>27<span class=\"_ _4\"></span>. Retro<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive applicati<span class=\"_ _0\"></span>on is required<span class=\"_ _0\"></span>, and so th<span class=\"_ _0\"></span>e comp<span class=\"_ _0\"></span>arative informatio<span class=\"_ _0\"></span>n f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the financi<span class=\"_ _0\"></span>al year endin<span class=\"_ _0\"></span>g 31 Dece<span class=\"_ _0\"></span>mber 202<span class=\"_ _0\"></span>6 will be rest<span class=\"_ _0\"></span>ated in acc<span class=\"_ _0\"></span>ordanc<span class=\"_ _0\"></span>e with IFRS 1<span class=\"_ _0\"></span>8, inc<span class=\"_ _0\"></span>luding a rec<span class=\"_ _0\"></span>onciliation for eac<span class=\"_ _0\"></span>h line item in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt betwe<span class=\"_ _0\"></span>en the res<span class=\"_ _0\"></span>tated am<span class=\"_ _0\"></span>ounts appl<span class=\"_ _0\"></span>ying IFRS 1<span class=\"_ _0\"></span>8 and the am<span class=\"_ _0\"></span>ounts previo<span class=\"_ _0\"></span>usly pres<span class=\"_ _0\"></span>ented appl<span class=\"_ _0\"></span>ying IAS 1.<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g 2025 the Gro<span class=\"_ _0\"></span>up will carr<span class=\"_ _0\"></span>y out a det<span class=\"_ _0\"></span>ailed impa<span class=\"_ _0\"></span>ct ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent to identif<span class=\"_ _0\"></span>y the act<span class=\"_ _0\"></span>ions require<span class=\"_ _0\"></span>d and set mil<span class=\"_ _0\"></span>estone<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r implement<span class=\"_ _0\"></span>ation act<span class=\"_ _0\"></span>ivities.<span class=\"_ _3bd\"> </span>IFRS 19 Subsidiar<span class=\"_ _2\"></span>ies without<span class=\"_ _2\"></span> Public Accountabil<span class=\"_ _2\"></span>it<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> (1 January 2027)<span class=\"_ _3bd\"> </span>IFR<span class=\"_ _0\"></span>S 19 allows for c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain eligible sub<span class=\"_ _0\"></span>sidiaries of pare<span class=\"_ _0\"></span>nt entities th<span class=\"_ _0\"></span>at repor<span class=\"_ _0\"></span>t under IFR<span class=\"_ _0\"></span>S Accountin<span class=\"_ _0\"></span>g Standa<span class=\"_ _0\"></span>rds to apply re<span class=\"_ _0\"></span>duced dis<span class=\"_ _0\"></span>closure require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not exp<span class=\"_ _0\"></span>ect this s<span class=\"_ _0\"></span>tanda<span class=\"_ _0\"></span>rd to have an impac<span class=\"_ _0\"></span>t on its ope<span class=\"_ _0\"></span>rations or c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>Sa<span class=\"_ _0\"></span>le or Co<span class=\"_ _0\"></span>ntribut<span class=\"_ _0\"></span>ion of As<span class=\"_ _0\"></span>sets b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en an Inves<span class=\"_ _0\"></span>tor an<span class=\"_ _0\"></span>d its As<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ate or Joi<span class=\"_ _0\"></span>nt V<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>nture (A<span class=\"_ _0\"></span>mend<span class=\"_ _0\"></span>ments t<span class=\"_ _0\"></span>o IFRS 10 a<span class=\"_ _0\"></span>nd IAS 28<span class=\"_ _0\"></span>)  (Ef<span class=\"_ _0\"></span>fecti<span class=\"_ _0\"></span>ve date defe<span class=\"_ _0\"></span>rred)<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s addres<span class=\"_ _0\"></span>s the conflic<span class=\"_ _0\"></span>t bet<span class=\"_ _0\"></span>ween IFR<span class=\"_ _0\"></span>S 10 and IAS 2<span class=\"_ _0\"></span>8 in dealing with t<span class=\"_ _0\"></span>he loss of cont<span class=\"_ _0\"></span>rol of a subsidiar<span class=\"_ _0\"></span>y that is s<span class=\"_ _0\"></span>old or contrib<span class=\"_ _0\"></span>uted to<span class=\"_ gs47\"> </span>an as<span class=\"_ _0\"></span>sociate or j<span class=\"_ _0\"></span>oint venture. The<span class=\"_ _0\"></span>se amen<span class=\"_ _0\"></span>dments are n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>ted to have any impac<span class=\"_ _0\"></span>t on the Group.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing amendm<span class=\"_ _0\"></span>ents to st<span class=\"_ _0\"></span>andards lis<span class=\"_ _0\"></span>ted above h<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ve b<span class=\"_ _0\"></span>een end<span class=\"_ _0\"></span>orsed fo<span class=\"_ _0\"></span>r use in the UK by th<span class=\"_ _0\"></span>e UK Endor<span class=\"_ _0\"></span>sement B<span class=\"_ _0\"></span>oard:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>La<span class=\"_ _0\"></span>ck of Excha<span class=\"_ _0\"></span>ngeabili<span class=\"_ _0\"></span>ty (Am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to IAS 21 The Ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of Change<span class=\"_ _0\"></span>s in Foreign E<span class=\"_ _0\"></span>xchang<span class=\"_ _0\"></span>e Rates); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Ann<span class=\"_ _0\"></span>ual Improveme<span class=\"_ _0\"></span>nts to IFRS Ac<span class=\"_ _0\"></span>counting St<span class=\"_ _0\"></span>andards \u2014 Volume 11<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-575": {
   "value": "A3. Restatement of prior year primary statements Following the introduction of IFRS 17 Insurance Contracts and IFRS 9 Financial Instruments in the Group\u2019s financial statements for the year ended 31 December 2023, the Group has continued to embed its processes and controls associated with this significant change. In doing so, the Group has identified material corrections to previously reported results, resulting in the restatement of comparative information included in these consolidated financial statements. In addition, it has made an accounting policy change associated with IFRS 17. Further details on these items and their impact on the consolidated financial statements are set out below. A third balance sheet, as at 1 January 2023, has not been provided within the statement of consolidated financial position as the restatement to the opening position has been assessed as immaterial in the context of the statement of consolidated financial position as at that date. Total assets reported of \u00a3281,040 million increased by \u00a375 million to \u00a3281,115 million, total liabilities reported of \u00a3276,803 million reduced by \u00a320 million to \u00a3276,783 million and total equity reported of \u00a34,237 million increased by \u00a395 million to \u00a34,332 million. The following table sets out the impact of the restatements on opening retained earnings and the results as at 31 December 2023: Correction of errors Valuation of IFRS Deferred Valuation of Change in 17 and IFRS 9 acquisition costs reimbursement accounting As reported liabilities ('DAC') right policy Restated \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m Consolidated income statement: Insurance service expenses (4,354) \u2013 \u2013 \u2013 19 (4,335) Net investment income 20,840 \u2013 \u2013 (2) \u2013 20,838 Net finance expense from insurance contracts (6,982) (76) \u2013 \u2013 \u2013 (7,058) Change in investment contract liabilities (13,894) 289 \u2013 \u2013 \u2013 (13,605) Administrative expenses (1,674) \u2013 12 \u2013 \u2013 (1,662) Tax charge (108) (66) \u2013 1 (5) (178) (Loss)/profit for the year attributable to owners (88) 147 12 (1) 14 84 Statement of comprehensive income: Remeasurements of net defined benefit asset/liability (66) \u2013 \u2013 (28) \u2013 (94) Tax credit relating to other comprehensive income items 21 \u2013 \u2013 7 \u2013 28 Total other comprehensive expense for the year (71) \u2013 \u2013 (21) \u2013 (92) Statement of consolidated financial position: Reimbursement right assets 204 \u2013 \u2013 11 \u2013 215 Other receivables 2,578 \u2013 74 \u2013 \u2013 2,652 Total assets 299,308 \u2013 74 11 \u2013 299,393 Reimbursement right liabilities \u2013 \u2013 \u2013 79 \u2013 79 Insurance contract liabilities 115,741 5 \u2013 \u2013 (19) 115,727 Investment contracts 158,004 (289) \u2013 \u2013 \u2013 157,715 Deferred tax liabilities 257 75 \u2013 (17) 5 320 Total Liabilities 295,769 (209) \u2013 62 (14) 295,608 Retained earnings as at 1 January 2023 1,162 62 62 (29) \u2013 1,257 Retained earnings as at 31 December 2023 469 209 74 (51) 14 715 Total equity 3,539 209 74 (51) 14 3,785 \u2022  Valuation of IFRS 17 and IFRS 9 liabilities \u2013 As a result of the continued embedding of processes and controls following the implementation of IFRS 17 the Group has identified a number of corrections to previously reported IFRS 17 insurance contract liabilities, IFRS 9 investment contract liabilities and associated deferred tax. This included errors identified in the calculation of inputs to the IFRS 17 liability calculation, and an overstatement of liabilities arising from the inclusion of the liability for a group of contracts erroneously in both IFRS 17 and IFRS 9 liabilities. As at 1 January 2023 insurance contract liabilities were overstated by \u00a371 million, deferred tax liabilities understated by \u00a39 million, and consequently opening retained earnings were understated by \u00a362 million. \u2022  Deferred acquisition costs (\u2018DAC\u2019) \u2013 On transition to IFRS 17, DAC recognised in respect of insurance contracts was derecognised. It was identified that the DAC on a portfolio of IFRS 9 contracts, which should remain, was derecognised in error and acquisition costs on new business to this portfolio were not deferred in line with the Group\u2019s accounting policy. During 2023 incurred DAC on the portfolio of IFRS9 contracts was not deferred but was expensed in error. At 1 January 2023 other receivables was understated by \u00a362 million and consequently opening retained earnings were understated by \u00a362 million. \u2022  Valuation of reimbursement rights \u2013 It has been identified that the calculation of reimbursement rights used an out-of-date input resulting in an understatement of net reimbursement rights at 1 January 2023 of \u00a338 million and an associated overstatement of deferred tax liabilities of \u00a39 million consequently overstating opening retained earnings by \u00a329 million. \u2022  Tax-free cash methodology \u2013 The Group has made a change to its accounting policies such that it now treats tax-free cash payments on deferred annuities as a settlement of a non-distinct investment component (if a guaranteed annuity exists) and a premium refund where a non-distinct investment component does not exist or to the extent that the tax-free cash amount exceeds the value of the non-distinct investment component. This approach aligns with the requirements of IFRS 17 and therefore is no less relevant or reliable and simplifies internal processes. The impact is a decrease in insurance service expenses of \u00a319 million and an increase in the tax charge of \u00a35 million for the year ended 31 December 2023 (year ended 31 December 2024: \u00a347 million decrease in insurance service expenses and \u00a312 million increase in tax charge), and a corresponding decrease in the CSM within insurance contract liabilities and increase in deferred tax liabilities by the same amounts. The impact on earnings per share of the tax-free cash methodology change in the year to 31 December 2024 is an increase in basic earnings per share and an increase in diluted earnings per share of 3.5 pence per share (year ended 31 December 2023: increase in basic earnings per share and an increase in diluted earnings per share of 1.4 pence per share). There was no impact on either basic operating earnings net of financing costs per share or diluted operating earnings net of financing costs per share in either period. Disclosures In addition, corrections have been made to the disclosures in respect of fair value hierarchy of corporate bonds in note E2.2, the allocation of BEL between disclosure groups in note F1, the illiquidity premiums and future costs of guaranteed annuity options in note F11.2, the sensitivities in notes E6.2 and F11.1 the analysis of the fair value of underlying items in note F9 and deferred tax assets not recognised in note G8. Further details of these corrections are set out in the relevant note. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DescriptionOfAccountingPolicyForRestatementOfPriorYearPrimaryStatement",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-576": {
   "value": "<div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs9a\">A4.1<span class=\"_ _2\"></span> Foreign cur<span class=\"_ _2\"></span>rency transac<span class=\"_ _0\"></span>tio<span class=\"_ _2\"></span>ns<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b\">Items in<span class=\"_ _0\"></span>cluded in t<span class=\"_ _0\"></span>he financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents of eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s entities are me<span class=\"_ _0\"></span>asured us<span class=\"_ _0\"></span>ing the curre<span class=\"_ _0\"></span>ncy of the prim<span class=\"_ _0\"></span>ary e<span class=\"_ _0\"></span>conomic e<span class=\"_ _0\"></span>nvironment in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9c\">which th<span class=\"_ _0\"></span>e entit<span class=\"_ _0\"></span>y operates (the \u2018<span class=\"_ _0\"></span>fun<span class=\"_ _0\"></span>ctional c<span class=\"_ _0\"></span>urrency<span class=\"_ _0\"></span>\u2019). The co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts are pres<span class=\"_ _0\"></span>ented in ste<span class=\"_ _0\"></span>rling, whic<span class=\"_ _0\"></span>h is the Group\u2019s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d\">pres<span class=\"_ _0\"></span>entation cur<span class=\"_ _0\"></span>rency.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9e\">The re<span class=\"_ _0\"></span>sults and fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition of all Group c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s that have a func<span class=\"_ _0\"></span>tional curre<span class=\"_ _0\"></span>ncy dif<span class=\"_ _0\"></span>ferent from the pre<span class=\"_ _0\"></span>sentatio<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y are translate<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f\">into the pre<span class=\"_ _0\"></span>sentation c<span class=\"_ _0\"></span>urrency a<span class=\"_ _0\"></span>s follows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa0\">\u2022 <span class=\"_ _19\"> </span>as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities are tr<span class=\"_ _0\"></span>anslate<span class=\"_ _0\"></span>d at the closin<span class=\"_ _0\"></span>g rate at the per<span class=\"_ _0\"></span>iod end;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa1\">\u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>ome, exp<span class=\"_ _0\"></span>enses an<span class=\"_ _0\"></span>d cash fl<span class=\"_ _0\"></span>ows denomin<span class=\"_ _0\"></span>ated in foreign c<span class=\"_ _0\"></span>urrencies a<span class=\"_ _0\"></span>re translate<span class=\"_ _0\"></span>d at average exc<span class=\"_ _0\"></span>hange ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa2\">\u2022 <span class=\"_ _19\"> </span>all res<span class=\"_ _0\"></span>ulting exchan<span class=\"_ _0\"></span>ge diffe<span class=\"_ _0\"></span>rences a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised thro<span class=\"_ _0\"></span>ugh the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated c<span class=\"_ _0\"></span>omprehe<span class=\"_ _0\"></span>nsive incom<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa3\">Foreign c<span class=\"_ _0\"></span>urrency tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions are tra<span class=\"_ _0\"></span>nslated into the f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>al currenc<span class=\"_ _0\"></span>y of the trans<span class=\"_ _0\"></span>acting G<span class=\"_ _0\"></span>roup entit<span class=\"_ _0\"></span>y using excha<span class=\"_ _0\"></span>nge rates p<span class=\"_ _0\"></span>revailing at the date </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa4\">of the tran<span class=\"_ _0\"></span>sacti<span class=\"_ _0\"></span>on. Foreign exc<span class=\"_ _0\"></span>hange g<span class=\"_ _0\"></span>ains and los<span class=\"_ _0\"></span>ses res<span class=\"_ _0\"></span>ulting from the s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of such tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions and fro<span class=\"_ _0\"></span>m the transl<span class=\"_ _0\"></span>ation of monet<span class=\"_ _0\"></span>ary as<span class=\"_ _0\"></span>sets </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa5\">and lia<span class=\"_ _0\"></span>bilities den<span class=\"_ _0\"></span>ominated in foreig<span class=\"_ _0\"></span>n currenci<span class=\"_ _0\"></span>es are reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment. T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>slation dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on non-mon<span class=\"_ _0\"></span>etar<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa6\">items at f<span class=\"_ _0\"></span>air value throu<span class=\"_ _0\"></span>gh profit or los<span class=\"_ _0\"></span>s are repor<span class=\"_ _0\"></span>ted as pa<span class=\"_ _0\"></span>rt of the fair va<span class=\"_ _0\"></span>lue gain or los<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-577": {
   "value": "A4.2 Other operating income Other operating income includes income from all other operating activities which are incidental to the principal activities of the Group. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DescriptionOfAccountingPolicyForOtherOperatingIncome",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-578": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls6b ws169 gsab\">A5. Critic<span class=\"_ _0\"></span>al accountin<span class=\"_ _0\"></span>g estimates an<span class=\"_ _0\"></span>d judge<span class=\"_ _0\"></span>ments<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac\">The pre<span class=\"_ _0\"></span>paration of fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s requires ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent to make judge<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, estim<span class=\"_ _0\"></span>ates and as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>hat affec<span class=\"_ _0\"></span>t the applic<span class=\"_ _0\"></span>ation of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsad\">polic<span class=\"_ _0\"></span>ies and rep<span class=\"_ _0\"></span>orted a<span class=\"_ _0\"></span>mounts of as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>, incom<span class=\"_ _0\"></span>e and expe<span class=\"_ _0\"></span>nses<span class=\"_ _0\"></span>. Disclos<span class=\"_ _0\"></span>ures of judge<span class=\"_ _0\"></span>ments m<span class=\"_ _0\"></span>ade by mana<span class=\"_ _0\"></span>gement in a<span class=\"_ _0\"></span>pplying th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsae\">Group\u2019s acc<span class=\"_ _0\"></span>ounting polic<span class=\"_ _0\"></span>ies includ<span class=\"_ _0\"></span>e those tha<span class=\"_ _0\"></span>t have the most s<span class=\"_ _0\"></span>ignificant ef<span class=\"_ _0\"></span>fect o<span class=\"_ _0\"></span>n the amount<span class=\"_ _0\"></span>s that are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated fin<span class=\"_ _0\"></span>ancial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaf\">st<span class=\"_ _0\"></span>atements<span class=\"_ _0\"></span>. Disc<span class=\"_ _0\"></span>losures of es<span class=\"_ _0\"></span>timates and a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated ass<span class=\"_ _0\"></span>umptions inc<span class=\"_ _0\"></span>lude thos<span class=\"_ _0\"></span>e that have a signific<span class=\"_ _0\"></span>ant risk of result<span class=\"_ _0\"></span>ing in a material c<span class=\"_ _0\"></span>hange to th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb0\">car<span class=\"_ _0\"></span>rying va<span class=\"_ _0\"></span>lue of asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies within the n<span class=\"_ _0\"></span>ext year. The est<span class=\"_ _0\"></span>imates and as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated ass<span class=\"_ _0\"></span>umptions are ba<span class=\"_ _0\"></span>sed on his<span class=\"_ _0\"></span>torical ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>e and variou<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb1\">other f<span class=\"_ _0\"></span>actors th<span class=\"_ _0\"></span>at are believe<span class=\"_ _0\"></span>d to be reason<span class=\"_ _0\"></span>able unde<span class=\"_ _0\"></span>r the circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s, the re<span class=\"_ _0\"></span>sults of which for<span class=\"_ _0\"></span>m the basis of the j<span class=\"_ _0\"></span>udgem<span class=\"_ _0\"></span>ents as to the c<span class=\"_ _0\"></span>arr<span class=\"_ _0\"></span>ying </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb2\">value<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and liabilitie<span class=\"_ _0\"></span>s that are not rea<span class=\"_ _0\"></span>dily apparent f<span class=\"_ _0\"></span>rom other so<span class=\"_ _0\"></span>urces. Ac<span class=\"_ _0\"></span>tual res<span class=\"_ _0\"></span>ults may dif<span class=\"_ _0\"></span>fer from thes<span class=\"_ _0\"></span>e estimate<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb3\">Critic<span class=\"_ _0\"></span>al acco<span class=\"_ _0\"></span>unting est<span class=\"_ _0\"></span>imates are thos<span class=\"_ _0\"></span>e which involve the m<span class=\"_ _0\"></span>ost comp<span class=\"_ _0\"></span>lex or subje<span class=\"_ _0\"></span>ctive jud<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s or ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ents. T<span class=\"_ _0\"></span>he areas of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s bu<span class=\"_ _0\"></span>siness </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb4\">that t<span class=\"_ _0\"></span>ypica<span class=\"_ _0\"></span>lly require suc<span class=\"_ _0\"></span>h estimate<span class=\"_ _0\"></span>s are the mea<span class=\"_ _0\"></span>surement of ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities wit<span class=\"_ _0\"></span>h discretion<span class=\"_ _0\"></span>ary pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>tion features </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb5\">(\u2018<span class=\"_ _0\"></span>DPF\u2019<span class=\"_ _0\"></span>), determin<span class=\"_ _0\"></span>ation of the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es, an<span class=\"_ _0\"></span>d valuation of pe<span class=\"_ _0\"></span>nsion sch<span class=\"_ _0\"></span>eme ass<span class=\"_ _0\"></span>ets and li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb6\">The ap<span class=\"_ _0\"></span>plication of cri<span class=\"_ _0\"></span>tical ac<span class=\"_ _0\"></span>counting ju<span class=\"_ _0\"></span>dgeme<span class=\"_ _0\"></span>nts that co<span class=\"_ _0\"></span>uld have the mos<span class=\"_ _0\"></span>t signific<span class=\"_ _0\"></span>ant effec<span class=\"_ _0\"></span>t on the rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d amount<span class=\"_ _0\"></span>s include cl<span class=\"_ _0\"></span>assific<span class=\"_ _0\"></span>ation of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb7\">contr<span class=\"_ _0\"></span>acts to b<span class=\"_ _0\"></span>e accounte<span class=\"_ _0\"></span>d for as insura<span class=\"_ _0\"></span>nce or inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts an<span class=\"_ _0\"></span>d amor<span class=\"_ _0\"></span>tisation of th<span class=\"_ _0\"></span>ose contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, the determ<span class=\"_ _0\"></span>ination of adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb8\">profit an<span class=\"_ _0\"></span>d determinatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontrol with reg<span class=\"_ _0\"></span>ard to underly<span class=\"_ _0\"></span>ing entities<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb9\">Det<span class=\"_ _0\"></span>ails of all critic<span class=\"_ _0\"></span>al acco<span class=\"_ _0\"></span>unting estim<span class=\"_ _0\"></span>ates and jud<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s are includ<span class=\"_ _0\"></span>ed below a<span class=\"_ _0\"></span>nd fur<span class=\"_ _0\"></span>ther cons<span class=\"_ _0\"></span>ideration is a<span class=\"_ _0\"></span>lso given to how c<span class=\"_ _0\"></span>limate risk af<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>cts o<span class=\"_ _0\"></span>ur </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls11 ws11 gsba\">account<span class=\"_ _2\"></span> judgements and esti<span class=\"_ _2\"></span>mates.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsbb\">A5.1 In<span class=\"_ _0\"></span>suran<span class=\"_ _0\"></span>ce con<span class=\"_ _0\"></span>trac<span class=\"_ _0\"></span>t and inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>t contr<span class=\"_ _0\"></span>act wit<span class=\"_ _0\"></span>h DPF lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc\">The Gro<span class=\"_ _0\"></span>up applies si<span class=\"_ _0\"></span>gnificant j<span class=\"_ _0\"></span>udgeme<span class=\"_ _0\"></span>nt and est<span class=\"_ _0\"></span>imation when c<span class=\"_ _0\"></span>lassif<span class=\"_ _0\"></span>ying an<span class=\"_ _0\"></span>d measurin<span class=\"_ _0\"></span>g insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g determinatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbd\">input<span class=\"_ _0\"></span>s, as<span class=\"_ _0\"></span>sumptions a<span class=\"_ _0\"></span>nd techniq<span class=\"_ _0\"></span>ues it use<span class=\"_ _0\"></span>s to determine the B<span class=\"_ _0\"></span>EL, risk ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent and CS<span class=\"_ _0\"></span>M at each re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing perio<span class=\"_ _0\"></span>d to measure th<span class=\"_ _0\"></span>e insuranc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbe\">contr<span class=\"_ _0\"></span>act and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>/<span class=\"_ _4\"></span>as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>. The main are<span class=\"_ _0\"></span>as where sig<span class=\"_ _0\"></span>nificant ju<span class=\"_ _0\"></span>dgeme<span class=\"_ _0\"></span>nt and est<span class=\"_ _0\"></span>imation were re<span class=\"_ _0\"></span>quired are:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gsbf\">Contract classification </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc0\">Clas<span class=\"_ _0\"></span>sificatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s as insura<span class=\"_ _0\"></span>nce (or reinsur<span class=\"_ _0\"></span>ance) is bas<span class=\"_ _0\"></span>ed upon an a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the si<span class=\"_ _0\"></span>gnifican<span class=\"_ _0\"></span>ce of insuran<span class=\"_ _0\"></span>ce risk tran<span class=\"_ _0\"></span>sferred to the G<span class=\"_ _0\"></span>roup. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are defined by I<span class=\"_ _0\"></span>FRS 17 as thos<span class=\"_ _0\"></span>e containin<span class=\"_ _0\"></span>g significa<span class=\"_ _0\"></span>nt insuranc<span class=\"_ _0\"></span>e risk if, and only if, an insure<span class=\"_ _0\"></span>d event could c<span class=\"_ _0\"></span>ause an in<span class=\"_ _0\"></span>surer to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc2\">make signific<span class=\"_ _0\"></span>ant additio<span class=\"_ _0\"></span>nal payment<span class=\"_ _0\"></span>s in any scen<span class=\"_ _0\"></span>ario, excludin<span class=\"_ _0\"></span>g scen<span class=\"_ _0\"></span>arios that la<span class=\"_ _0\"></span>ck comme<span class=\"_ _0\"></span>rcial subs<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>, at the incept<span class=\"_ _0\"></span>ion of the contra<span class=\"_ _0\"></span>ct.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc3\">Clas<span class=\"_ _0\"></span>sificatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s as investm<span class=\"_ _0\"></span>ent with DPF is b<span class=\"_ _0\"></span>ased up<span class=\"_ _0\"></span>on an ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of whether th<span class=\"_ _0\"></span>e discretion<span class=\"_ _0\"></span>ary am<span class=\"_ _0\"></span>ount of benefit<span class=\"_ _0\"></span>s is expe<span class=\"_ _0\"></span>cted to be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc4\">a<span class=\"_ gs47\"> </span>signifi<span class=\"_ _0\"></span>cant amount of th<span class=\"_ _0\"></span>e total bene<span class=\"_ _0\"></span>fits. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gsc5\">Measuremen<span class=\"_ _2\"></span>t of i<span class=\"_ _2\"></span>nsurance cont<span class=\"_ _2\"></span>ract liabili<span class=\"_ _2\"></span>ties<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc6\">In appl<span class=\"_ _0\"></span>ying IFRS 17 re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s for the me<span class=\"_ _0\"></span>asurement of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>, the following inp<span class=\"_ _0\"></span>uts and m<span class=\"_ _0\"></span>ethods we<span class=\"_ _0\"></span>re used tha<span class=\"_ _0\"></span>t include </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls11 ws11 gsc7\">signi<span class=\"_ _2\"></span>ficant estima<span class=\"_ _2\"></span>tes:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc8\">\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>resent valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>uture cas<span class=\"_ _0\"></span>h flows is est<span class=\"_ _0\"></span>imated using d<span class=\"_ _0\"></span>eterministi<span class=\"_ _0\"></span>c scena<span class=\"_ _0\"></span>rios, exce<span class=\"_ _0\"></span>pt where sto<span class=\"_ _0\"></span>chas<span class=\"_ _0\"></span>tic modellin<span class=\"_ _0\"></span>g inv<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lves proje<span class=\"_ _0\"></span>cting fut<span class=\"_ _0\"></span>ure </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsc9\">ca<span class=\"_ _0\"></span>sh flows under a l<span class=\"_ _0\"></span>arge numbe<span class=\"_ _0\"></span>r of possib<span class=\"_ _0\"></span>le econo<span class=\"_ _0\"></span>mic scen<span class=\"_ _0\"></span>arios for market varia<span class=\"_ _0\"></span>bles such a<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span>s and equit<span class=\"_ _0\"></span>y return<span class=\"_ _0\"></span>s and where th<span class=\"_ _0\"></span>e cash </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsca\">flows refl<span class=\"_ _0\"></span>ect a se<span class=\"_ _0\"></span>ries of interrelate<span class=\"_ _0\"></span>d options that a<span class=\"_ _0\"></span>re implicit or expli<span class=\"_ _0\"></span>cit;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gscb\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>pproach an<span class=\"_ _0\"></span>d assumpt<span class=\"_ _0\"></span>ions use<span class=\"_ _0\"></span>d to derive disco<span class=\"_ _0\"></span>unt rates, in<span class=\"_ _0\"></span>cluding any illiq<span class=\"_ _0\"></span>uid premiums (se<span class=\"_ _0\"></span>e note F11.<span class=\"_ _0\"></span>2.1);<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gscc\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>pproach an<span class=\"_ _0\"></span>d confiden<span class=\"_ _0\"></span>ce level for es<span class=\"_ _0\"></span>timating ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tments for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk (se<span class=\"_ _0\"></span>e note F11.<span class=\"_ _0\"></span>2.2)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gscd\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s about f<span class=\"_ _0\"></span>uture cash fl<span class=\"_ _0\"></span>ows relating to m<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>lity, morbidit<span class=\"_ _0\"></span>y, policyh<span class=\"_ _0\"></span>older beh<span class=\"_ _0\"></span>aviour<span class=\"_ _2\"></span>, an<span class=\"_ _0\"></span>d expens<span class=\"_ _0\"></span>e inflation (see n<span class=\"_ _0\"></span>ote F11.<span class=\"_ _0\"></span>2.3). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsce\">Det<span class=\"_ _0\"></span>ails of how insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es are acc<span class=\"_ _0\"></span>ounted for are inc<span class=\"_ _0\"></span>luded within t<span class=\"_ _0\"></span>he acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s in note F1.<span class=\"_ _3bd\"> </span></div>Amo<span class=\"_ _0\"></span>rtis<span class=\"_ _0\"></span>ation o<span class=\"_ _0\"></span>f the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up applies j<span class=\"_ _0\"></span>udgeme<span class=\"_ _0\"></span>nts when d<span class=\"_ _0\"></span>etermining the a<span class=\"_ _0\"></span>mount of CS<span class=\"_ _0\"></span>M for a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts to b<span class=\"_ _0\"></span>e recogn<span class=\"_ _0\"></span>ised in profit or l<span class=\"_ _0\"></span>oss as insur<span class=\"_ _0\"></span>ance revenu<span class=\"_ _0\"></span>e in each pe<span class=\"_ _0\"></span>riod to reflec<span class=\"_ _0\"></span>t the insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s provided in th<span class=\"_ _0\"></span>at period<span class=\"_ _0\"></span>. The amount i<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d by conside<span class=\"_ _0\"></span>ring for eac<span class=\"_ _0\"></span>h group of contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e quantit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>enefits p<span class=\"_ _0\"></span>rovided and t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted covera<span class=\"_ _0\"></span>ge perio<span class=\"_ _0\"></span>d. Determ<span class=\"_ _0\"></span>ining the cover<span class=\"_ _0\"></span>age unit req<span class=\"_ _0\"></span>uires signific<span class=\"_ _0\"></span>ant judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, taking into co<span class=\"_ _0\"></span>nsiderati<span class=\"_ _0\"></span>on a number of are<span class=\"_ _0\"></span>as, in<span class=\"_ _0\"></span>cluding: \u2022 <span class=\"_ _19\"> </span>ide<span class=\"_ _0\"></span>ntification of a cover<span class=\"_ _0\"></span>age unit th<span class=\"_ _0\"></span>at is deem<span class=\"_ _0\"></span>ed to be a suit<span class=\"_ _0\"></span>able prox<span class=\"_ _0\"></span>y f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the ser<span class=\"_ _0\"></span>vice provide<span class=\"_ _0\"></span>d. This is pa<span class=\"_ _0\"></span>rticul<span class=\"_ _0\"></span>arly relevant for p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s that provide a c<span class=\"_ _0\"></span>ombination of dif<span class=\"_ _0\"></span>ferent t<span class=\"_ _0\"></span>ypes of insur<span class=\"_ _0\"></span>ance cover<span class=\"_ _0\"></span>age, inves<span class=\"_ _0\"></span>tment-relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vice and inves<span class=\"_ _0\"></span>tment-return s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>llowance for tim<span class=\"_ _0\"></span>e value of money in th<span class=\"_ _0\"></span>e releas<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e unit (i.e. wheth<span class=\"_ _0\"></span>er or not the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage unit<span class=\"_ _0\"></span>s should b<span class=\"_ _0\"></span>e discounte<span class=\"_ _0\"></span>d).<span class=\"_ _3bd\"> </span>For deferre<span class=\"_ _0\"></span>d annuities t<span class=\"_ _0\"></span>he weighting b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the deferral p<span class=\"_ _0\"></span>hase an<span class=\"_ _0\"></span>d the payment p<span class=\"_ _0\"></span>hase cover<span class=\"_ _0\"></span>age unit<span class=\"_ _0\"></span>s is calcula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d so that th<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices provide<span class=\"_ _0\"></span>d in the defer<span class=\"_ _0\"></span>ral phas<span class=\"_ _0\"></span>e reflect th<span class=\"_ _0\"></span>e investment re<span class=\"_ _0\"></span>turn and tho<span class=\"_ _0\"></span>se in the payme<span class=\"_ _0\"></span>nt phase refl<span class=\"_ _0\"></span>ect the a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y payment with th<span class=\"_ _0\"></span>e total ser<span class=\"_ _0\"></span>vices a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to provide a c<span class=\"_ _0\"></span>onsistent l<span class=\"_ _0\"></span>evel of ser<span class=\"_ _0\"></span>vice when tr<span class=\"_ _0\"></span>ansitionin<span class=\"_ _0\"></span>g betwe<span class=\"_ _0\"></span>en the deferr<span class=\"_ _0\"></span>al phase a<span class=\"_ _0\"></span>nd the payme<span class=\"_ _0\"></span>nt phase<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Following a<span class=\"_ _0\"></span>n asses<span class=\"_ _0\"></span>sment<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as determine<span class=\"_ _0\"></span>d the quantit<span class=\"_ _0\"></span>y of the be<span class=\"_ _0\"></span>nefits provid<span class=\"_ _0\"></span>ed under e<span class=\"_ _0\"></span>ach contr<span class=\"_ _0\"></span>act to be a sui<span class=\"_ _0\"></span>table prox<span class=\"_ _0\"></span>y for the ser<span class=\"_ _0\"></span>vice provide<span class=\"_ _0\"></span>d as follows:<span class=\"_ _3bd\"> </span><table class=\"s w231 h209\" id=\"_a810fe43-e88e-4d4a-9cf7-52df29f06fc9\"><tr><td class=\"c n x1d4 y5ae8 w232 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">T<span class=\"_ _2\"></span>ype of business/<span class=\"_ _2\"></span>products<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x519 y5ae8 w233 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">C<span class=\"_ _0\"></span>overa<span class=\"_ _0\"></span>ge uni<span class=\"_ _0\"></span>t (quan<span class=\"_ _0\"></span>tity o<span class=\"_ _0\"></span>f bene<span class=\"_ _0\"></span>fits)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5ae9 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rm life assur<span class=\"_ _0\"></span>ance<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x51a hc y5aea ff2 fs6 fc3 sc0 ls1 ws1\">Sum a<span class=\"_ _0\"></span>ssured in forc<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5aeb ff2 fs6 fc3 sc0 ls17 ws18\">Endowm<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y5aec ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>partic<span class=\"_ _0\"></span>ipating who<span class=\"_ _0\"></span>le-life<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y5aed ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er protec<span class=\"_ _0\"></span>tion produc<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"c n x1d4 y5a13 w234 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">Imme<span class=\"_ _0\"></span>diate annuit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51b y5a13 w235 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Annuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>yme<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 w236 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d annuit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51c y5ae6 w237 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fund size during defe<span class=\"_ _0\"></span>rred perio<span class=\"_ _0\"></span>d and annuit<span class=\"_ _0\"></span>y paym<span class=\"_ _0\"></span>ents for the pay<span class=\"_ _0\"></span>ment perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w238 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unit linked<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51d y5a15 w239 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Annual management<span class=\"_ _2\"></span> charge and<span class=\"_ _2\"></span> insurance char<span class=\"_ _2\"></span>ges<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w23a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Conventional with-profits (<span class=\"_ _0\"></span>\u2018CWP\u2019<span class=\"_ _0\"></span>) &amp; Unitised with-profits (\u2018<span class=\"_ _0\"></span>UWP<span class=\"_ _0\"></span>\u2019)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x51e y5a16 w23b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ma<span class=\"_ _0\"></span>ximum of the gu<span class=\"_ _0\"></span>aranteed b<span class=\"_ _0\"></span>enefit an<span class=\"_ _0\"></span>d asset s<span class=\"_ _0\"></span>hare<span class=\"_ _3bd\"> </span></div></td></tr></table>In relat<span class=\"_ _0\"></span>ion to the applic<span class=\"_ _0\"></span>ation of disco<span class=\"_ _0\"></span>unt rate in determinin<span class=\"_ _0\"></span>g the coverag<span class=\"_ _0\"></span>e units<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as elec<span class=\"_ _0\"></span>ted to apply dis<span class=\"_ _0\"></span>counting a<span class=\"_ _0\"></span>s this gives a more even allo<span class=\"_ _0\"></span>cation of profit as s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces are provide<span class=\"_ _0\"></span>d over the life of a group of contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. The dis<span class=\"_ _0\"></span>count rate is the l<span class=\"_ _0\"></span>ocked-in rate for ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s mea<span class=\"_ _0\"></span>sured unde<span class=\"_ _0\"></span>r the gen<span class=\"_ _0\"></span>eral mod<span class=\"_ _0\"></span>el (\u2018GM<span class=\"_ _0\"></span>\u2019) a<span class=\"_ _0\"></span>nd current rate<span class=\"_ _0\"></span>s for insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts me<span class=\"_ _0\"></span>asured un<span class=\"_ _0\"></span>der the variab<span class=\"_ _0\"></span>le fee appro<span class=\"_ _0\"></span>ach (\u2018<span class=\"_ _0\"></span>VF<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>). A5.<span class=\"_ _0\"></span>2 Fair val<span class=\"_ _0\"></span>ue of fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span>A signifi<span class=\"_ _0\"></span>cant por<span class=\"_ _0\"></span>tion of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities are me<span class=\"_ _0\"></span>asured at fa<span class=\"_ _0\"></span>ir value and ac<span class=\"_ _0\"></span>counted for a<span class=\"_ _0\"></span>s set out in the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policies in note E1<span class=\"_ _0\"></span>. Financia<span class=\"_ _0\"></span>l instrum<span class=\"_ _0\"></span>ents value<span class=\"_ _0\"></span>d where valu<span class=\"_ _0\"></span>ation techni<span class=\"_ _0\"></span>ques are bas<span class=\"_ _0\"></span>ed on obs<span class=\"_ _0\"></span>ervab<span class=\"_ _0\"></span>le market data at th<span class=\"_ _0\"></span>e period en<span class=\"_ _0\"></span>d are categ<span class=\"_ _0\"></span>orise<span class=\"_ _0\"></span>d as Level 2 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>. Financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments val<span class=\"_ _0\"></span>ued where va<span class=\"_ _0\"></span>luation tech<span class=\"_ _0\"></span>niques are b<span class=\"_ _0\"></span>ased on n<span class=\"_ _0\"></span>on-obse<span class=\"_ _0\"></span>rvabl<span class=\"_ _0\"></span>e inputs are c<span class=\"_ _0\"></span>ategori<span class=\"_ _0\"></span>sed as Level 3 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>. Level 2 and Level 3 fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s therefore involve the us<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>stimates<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e estimate<span class=\"_ _0\"></span>s made are inc<span class=\"_ _0\"></span>luded in note E<span class=\"_ _0\"></span>2. In relation to th<span class=\"_ _0\"></span>e Level 3 financia<span class=\"_ _0\"></span>l instrum<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, sensitiv<span class=\"_ _0\"></span>ity an<span class=\"_ _0\"></span>alysis is pe<span class=\"_ _0\"></span>rforme<span class=\"_ _0\"></span>d in resp<span class=\"_ _0\"></span>ect of<span class=\"_ gs47\"> </span>the key as<span class=\"_ _0\"></span>sumptions us<span class=\"_ _0\"></span>ed in the valu<span class=\"_ _0\"></span>ation of these fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s. The d<span class=\"_ _0\"></span>etails of this se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y analys<span class=\"_ _0\"></span>is are include<span class=\"_ _0\"></span>d in note E2.4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A5.3 Pension scheme obligati<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span>The val<span class=\"_ _0\"></span>uation of pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>e obligatio<span class=\"_ _0\"></span>ns is determin<span class=\"_ _0\"></span>ed using ac<span class=\"_ _0\"></span>tuarial v<span class=\"_ _0\"></span>aluations th<span class=\"_ _0\"></span>at depen<span class=\"_ _0\"></span>d upon a numbe<span class=\"_ _0\"></span>r of assumptio<span class=\"_ _0\"></span>ns, inc<span class=\"_ _0\"></span>luding disc<span class=\"_ _0\"></span>ount rate, inflati<span class=\"_ _0\"></span>on and long<span class=\"_ _0\"></span>evity. Ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l actuar<span class=\"_ _0\"></span>ial advice is t<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n with rega<span class=\"_ _0\"></span>rd to settin<span class=\"_ _0\"></span>g the financ<span class=\"_ _0\"></span>ial assum<span class=\"_ _0\"></span>ptions to be us<span class=\"_ _0\"></span>ed in the valua<span class=\"_ _0\"></span>tion. As defin<span class=\"_ _0\"></span>ed bene<span class=\"_ _0\"></span>fit pensio<span class=\"_ _0\"></span>n scheme<span class=\"_ _0\"></span>s are long-te<span class=\"_ _0\"></span>rm in nature, su<span class=\"_ _0\"></span>ch assum<span class=\"_ _0\"></span>ptions can b<span class=\"_ _0\"></span>e subje<span class=\"_ _0\"></span>ct to signific<span class=\"_ _0\"></span>ant uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>ese es<span class=\"_ _0\"></span>timates and th<span class=\"_ _0\"></span>e sensitiv<span class=\"_ _0\"></span>ity of the de<span class=\"_ _0\"></span>fined ben<span class=\"_ _0\"></span>efit obligat<span class=\"_ _0\"></span>ion to k<span class=\"_ _2\"></span>ey as<span class=\"_ _0\"></span>sumptions a<span class=\"_ _0\"></span>re provided in note G1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A5.<span class=\"_ _0\"></span>4 Adju<span class=\"_ _0\"></span>sted o<span class=\"_ _0\"></span>perat<span class=\"_ _0\"></span>ing pro<span class=\"_ _0\"></span>fit<span class=\"_ _3bd\"> </span>Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit is t<span class=\"_ _0\"></span>he Group\u2019s non-<span class=\"_ _0\"></span>G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP meas<span class=\"_ _0\"></span>ure of perfor<span class=\"_ _0\"></span>mance an<span class=\"_ _0\"></span>d provides s<span class=\"_ _0\"></span>tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s with a compa<span class=\"_ _0\"></span>rable me<span class=\"_ _0\"></span>asure of the under<span class=\"_ _0\"></span>lying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the Group. T<span class=\"_ _0\"></span>he Group is req<span class=\"_ _0\"></span>uired to make judg<span class=\"_ _0\"></span>ements a<span class=\"_ _0\"></span>s to the appropr<span class=\"_ _0\"></span>iate longer<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>rm rates of investm<span class=\"_ _0\"></span>ent return for the dete<span class=\"_ _0\"></span>rmination of ad<span class=\"_ _0\"></span>justed o<span class=\"_ _0\"></span>perating p<span class=\"_ _0\"></span>rofit base<span class=\"_ _0\"></span>d on yields at th<span class=\"_ _0\"></span>e star<span class=\"_ _0\"></span>t of the financ<span class=\"_ _0\"></span>ial year<span class=\"_ _2\"></span>, a<span class=\"_ _0\"></span>s detailed in n<span class=\"_ _0\"></span>ote B2, and as to wh<span class=\"_ _0\"></span>ether items a<span class=\"_ _0\"></span>re inclu<span class=\"_ _0\"></span>ded within a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit or exclud<span class=\"_ _0\"></span>ed as an ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt to adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating profit in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with the ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy deta<span class=\"_ _0\"></span>iled in note B1. I<span class=\"_ _0\"></span>tems exclude<span class=\"_ _0\"></span>d from adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating profi<span class=\"_ _0\"></span>t are referred to as \u2018non-<span class=\"_ _0\"></span>operatin<span class=\"_ _0\"></span>g items\u2019<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>A5.5 Control and consolidation The Gro<span class=\"_ _0\"></span>up has investe<span class=\"_ _0\"></span>d in a number of c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes a<span class=\"_ _0\"></span>nd other t<span class=\"_ _0\"></span>ypes of inves<span class=\"_ _0\"></span>tment where j<span class=\"_ _0\"></span>udgem<span class=\"_ _0\"></span>ent is applie<span class=\"_ _0\"></span>d in determining wheth<span class=\"_ _0\"></span>er the Group c<span class=\"_ _0\"></span>ontrols the ac<span class=\"_ _0\"></span>tivities of the<span class=\"_ _0\"></span>se entitie<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se entities are t<span class=\"_ _0\"></span>ypic<span class=\"_ _0\"></span>ally stru<span class=\"_ _0\"></span>ctured in s<span class=\"_ _0\"></span>uch a way that ownin<span class=\"_ _0\"></span>g the maj<span class=\"_ _0\"></span>ority of th<span class=\"_ _0\"></span>e v<span class=\"_ _2\"></span>otin<span class=\"_ _0\"></span>g right<span class=\"_ _0\"></span>s is not the con<span class=\"_ _0\"></span>clusive fac<span class=\"_ _0\"></span>tor in the determ<span class=\"_ _0\"></span>ination of control in lin<span class=\"_ _0\"></span>e with the require<span class=\"_ _0\"></span>ments of I<span class=\"_ _0\"></span>FRS 10 Co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d Financi<span class=\"_ _0\"></span>al Stateme<span class=\"_ _0\"></span>nts. Th<span class=\"_ _0\"></span>e control a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment th<span class=\"_ _0\"></span>erefore involves a numb<span class=\"_ _0\"></span>er of furth<span class=\"_ _0\"></span>er consid<span class=\"_ _0\"></span>erations s<span class=\"_ _0\"></span>uch as wheth<span class=\"_ _0\"></span>er the Group h<span class=\"_ _0\"></span>as a unilateral p<span class=\"_ _0\"></span>ower of veto in gene<span class=\"_ _0\"></span>ral me<span class=\"_ _0\"></span>etings and w<span class=\"_ _0\"></span>hether th<span class=\"_ _0\"></span>e existenc<span class=\"_ _0\"></span>e of other agre<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s restric<span class=\"_ _0\"></span>t the Group from b<span class=\"_ _0\"></span>eing able to influ<span class=\"_ _0\"></span>ence the a<span class=\"_ _0\"></span>ctivitie<span class=\"_ _0\"></span>s. Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>ese judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s are given in note H1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A5.<span class=\"_ _0\"></span>6 How cli<span class=\"_ _0\"></span>mate ris<span class=\"_ _0\"></span>k affe<span class=\"_ _0\"></span>cts ou<span class=\"_ _0\"></span>r acco<span class=\"_ _0\"></span>unting j<span class=\"_ _0\"></span>udgm<span class=\"_ _0\"></span>ents a<span class=\"_ _0\"></span>nd est<span class=\"_ _0\"></span>imates In prep<span class=\"_ _0\"></span>aration of the<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, the Group ha<span class=\"_ _0\"></span>s conside<span class=\"_ _0\"></span>red the impa<span class=\"_ _0\"></span>ct of climate ch<span class=\"_ _0\"></span>ange ac<span class=\"_ _0\"></span>ross a numb<span class=\"_ _0\"></span>er of areas<span class=\"_ _0\"></span>, predomin<span class=\"_ _0\"></span>antly in<span class=\"_ gs47\"> </span>resp<span class=\"_ _0\"></span>ect of<span class=\"_ gs47\"> </span>the val<span class=\"_ _0\"></span>uation of financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es and go<span class=\"_ _0\"></span>odwill and oth<span class=\"_ _0\"></span>er intangib<span class=\"_ _0\"></span>le asset<span class=\"_ _0\"></span>s. Many of the ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s arising fro<span class=\"_ _0\"></span>m climate chan<span class=\"_ _0\"></span>ge will be lon<span class=\"_ _0\"></span>ger-term in nat<span class=\"_ _0\"></span>ure, with an inhe<span class=\"_ _0\"></span>rent level of unce<span class=\"_ _0\"></span>rtaint<span class=\"_ _0\"></span>y, and have bee<span class=\"_ _0\"></span>n asse<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>s having a<span class=\"_ gs47\"> </span>lim<span class=\"_ _0\"></span>ited effe<span class=\"_ _0\"></span>ct on acc<span class=\"_ _0\"></span>ounting jud<span class=\"_ _0\"></span>gments a<span class=\"_ _0\"></span>nd estim<span class=\"_ _0\"></span>ates for the curre<span class=\"_ _0\"></span>nt period<span class=\"_ _0\"></span>. The m<span class=\"_ _0\"></span>ajorit<span class=\"_ _0\"></span>y of the Group\u2019s financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts are held a<span class=\"_ _0\"></span>t fair value and u<span class=\"_ _0\"></span>se quoted ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et pri<span class=\"_ _0\"></span>ces or obs<span class=\"_ _0\"></span>ervab<span class=\"_ _0\"></span>le market inputs in t<span class=\"_ _0\"></span>heir valuatio<span class=\"_ _0\"></span>n. The use of quote<span class=\"_ _0\"></span>d market prices a<span class=\"_ _0\"></span>nd market input<span class=\"_ _0\"></span>s to determine fair va<span class=\"_ _0\"></span>lue reflec<span class=\"_ _0\"></span>ts current inform<span class=\"_ _0\"></span>ation and ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et s<span class=\"_ _0\"></span>entiment reg<span class=\"_ _0\"></span>arding the ef<span class=\"_ _0\"></span>fect of climate ri<span class=\"_ _0\"></span>sk. For the val<span class=\"_ _0\"></span>uation of level 3 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, there are n<span class=\"_ _0\"></span>o material un<span class=\"_ _0\"></span>obser<span class=\"_ _0\"></span>vable inpu<span class=\"_ _0\"></span>ts in relation to c<span class=\"_ _0\"></span>limate risk. N<span class=\"_ _0\"></span>ote E6 provides<span class=\"_ _3bd\"> </span>fur<span class=\"_ _0\"></span>ther risk m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment disc<span class=\"_ _0\"></span>losures in rela<span class=\"_ _0\"></span>tion to financia<span class=\"_ _0\"></span>l risks includin<span class=\"_ _0\"></span>g sensiti<span class=\"_ _0\"></span>vities in relati<span class=\"_ _0\"></span>on to credit and m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et r<span class=\"_ _0\"></span>isk. In ad<span class=\"_ _0\"></span>dition, fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etails on man<span class=\"_ _0\"></span>aging the re<span class=\"_ _0\"></span>lated clima<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e c<span class=\"_ _0\"></span>hange ri<span class=\"_ _0\"></span>sks are provided in th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>ask Forc<span class=\"_ _0\"></span>e for Climate-re<span class=\"_ _0\"></span>lated Fina<span class=\"_ _0\"></span>ncial Dis<span class=\"_ _0\"></span>closures (<span class=\"_ _0\"></span>\u2018TCFD\u2019<span class=\"_ _0\"></span>) on pag<span class=\"_ _0\"></span>e 54 of the Annua<span class=\"_ _0\"></span>l Repor<span class=\"_ _0\"></span>t and Acc<span class=\"_ _0\"></span>ounts<span class=\"_ _0\"></span>. Insur<span class=\"_ _0\"></span>ance an<span class=\"_ _0\"></span>d in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities with D<span class=\"_ _0\"></span>PF use ec<span class=\"_ _0\"></span>onomic as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>aking into acc<span class=\"_ _0\"></span>ount market cond<span class=\"_ _0\"></span>itions at the val<span class=\"_ _0\"></span>uation date as well<span class=\"_ gs47\"> </span>as n<span class=\"_ _0\"></span>on-eco<span class=\"_ _0\"></span>nomic as<span class=\"_ _0\"></span>sumptions su<span class=\"_ _0\"></span>ch as future ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s, lon<span class=\"_ _0\"></span>gevit<span class=\"_ _0\"></span>y and mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, whi<span class=\"_ _0\"></span>ch are set bas<span class=\"_ _0\"></span>ed on pas<span class=\"_ _0\"></span>t experi<span class=\"_ _0\"></span>ence, m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e, reg<span class=\"_ _0\"></span>ulations and e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>tations ab<span class=\"_ _0\"></span>out future tre<span class=\"_ _0\"></span>nds. D<span class=\"_ _0\"></span>ue to the level of ann<span class=\"_ _0\"></span>uities writ<span class=\"_ _0\"></span>ten by the Group, i<span class=\"_ _0\"></span>t is parti<span class=\"_ _0\"></span>cularly exp<span class=\"_ _0\"></span>osed to lon<span class=\"_ _0\"></span>gevit<span class=\"_ _0\"></span>y risk. While<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e impact of clim<span class=\"_ _0\"></span>ate chang<span class=\"_ _0\"></span>e on longevi<span class=\"_ _0\"></span>ty as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>as been c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d, as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 there<span class=\"_ gs47\"> </span>are no a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ments ma<span class=\"_ _0\"></span>de to the long<span class=\"_ _0\"></span>evity a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>ns to speci<span class=\"_ _0\"></span>fically allow for th<span class=\"_ _0\"></span>e impact of c<span class=\"_ _0\"></span>limate chang<span class=\"_ _0\"></span>e on annuit<span class=\"_ _0\"></span>ant mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Furth<span class=\"_ _0\"></span>er details a<span class=\"_ _0\"></span>s<span class=\"_ gs47\"> </span>to how ass<span class=\"_ _0\"></span>umptions are set a<span class=\"_ _0\"></span>nd of the se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y of the Group\u2019s result<span class=\"_ _0\"></span>s to annuitant lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y and othe<span class=\"_ _0\"></span>r k<span class=\"_ _2\"></span>ey ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>ks are set out in note F1<span class=\"_ _0\"></span>1. The as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of impairm<span class=\"_ _0\"></span>ent for goo<span class=\"_ _0\"></span>dwill and inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets is b<span class=\"_ _0\"></span>ased on va<span class=\"_ _0\"></span>lue in use ca<span class=\"_ _0\"></span>lculations<span class=\"_ _0\"></span>. V<span class=\"_ _2\"></span>alue in us<span class=\"_ _0\"></span>e represe<span class=\"_ _0\"></span>nts the value of f<span class=\"_ _0\"></span>uture ca<span class=\"_ _0\"></span>sh flows and us<span class=\"_ _0\"></span>es the Group\u2019s three<span class=\"_ _0\"></span>-year ann<span class=\"_ _0\"></span>ual oper<span class=\"_ _0\"></span>ating plan an<span class=\"_ _0\"></span>d the expe<span class=\"_ _0\"></span>ctation of lon<span class=\"_ _0\"></span>g-term ec<span class=\"_ _0\"></span>onomic grow<span class=\"_ _0\"></span>th beyon<span class=\"_ _0\"></span>d this perio<span class=\"_ _0\"></span>d. The three<span class=\"_ _0\"></span>-year an<span class=\"_ _0\"></span>nual oper<span class=\"_ _0\"></span>ating plan refl<span class=\"_ _0\"></span>ects m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s curre<span class=\"_ _0\"></span>nt expec<span class=\"_ _0\"></span>tations on c<span class=\"_ _0\"></span>ompetitive<span class=\"_ _0\"></span>ness an<span class=\"_ _0\"></span>d profitabilit<span class=\"_ _0\"></span>y and refle<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted impac<span class=\"_ _0\"></span>ts of the pro<span class=\"_ _0\"></span>cess of m<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>vin<span class=\"_ _0\"></span>g towards a low ca<span class=\"_ _0\"></span>rbon ec<span class=\"_ _0\"></span>onomy<span class=\"_ _2\"></span>. N<span class=\"_ _0\"></span>ote G2 provides fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails on go<span class=\"_ _0\"></span>odwill and oth<span class=\"_ _0\"></span>er intangib<span class=\"_ _0\"></span>le asse<span class=\"_ _0\"></span>ts and on<span class=\"_ gs47\"> </span>impair<span class=\"_ _0\"></span>ment test<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formed.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-618": {
   "value": "A6. New a<span class=\"_ _0\"></span>ccounting pr<span class=\"_ _0\"></span>onouncem<span class=\"_ _0\"></span>ents not yet ef<span class=\"_ _0\"></span>fective<span class=\"_ _3bd\"> </span>The IAS<span class=\"_ _0\"></span>B has is<span class=\"_ _0\"></span>sued th<span class=\"_ _0\"></span>e f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>llowing sta<span class=\"_ _0\"></span>ndards or am<span class=\"_ _0\"></span>ended s<span class=\"_ _0\"></span>tanda<span class=\"_ _0\"></span>rds and interpret<span class=\"_ _0\"></span>ations whic<span class=\"_ _0\"></span>h apply from the d<span class=\"_ _0\"></span>ates shown<span class=\"_ _0\"></span>. The Group ha<span class=\"_ _0\"></span>s decide<span class=\"_ _0\"></span>d not to ear<span class=\"_ _0\"></span>ly adopt any of thes<span class=\"_ _0\"></span>e stan<span class=\"_ _0\"></span>dards, a<span class=\"_ _0\"></span>mendme<span class=\"_ _0\"></span>nts or interpret<span class=\"_ _0\"></span>ations whe<span class=\"_ _0\"></span>re this is permi<span class=\"_ _0\"></span>tted<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Lac<span class=\"_ _0\"></span>k of Exc<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>eabili<span class=\"_ _0\"></span>ty (Am<span class=\"_ _0\"></span>endm<span class=\"_ _0\"></span>ents to IA<span class=\"_ _0\"></span>S 21 The Ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of Chan<span class=\"_ _0\"></span>ges in Fore<span class=\"_ _0\"></span>ign Exc<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>e Rates) (1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2025<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s clarif<span class=\"_ _0\"></span>y how an entit<span class=\"_ _0\"></span>y sho<span class=\"_ _0\"></span>uld asse<span class=\"_ _0\"></span>ss wheth<span class=\"_ _0\"></span>er a curren<span class=\"_ _0\"></span>cy is exchan<span class=\"_ _0\"></span>geable an<span class=\"_ _0\"></span>d how it sho<span class=\"_ _0\"></span>uld determine a s<span class=\"_ _0\"></span>pot exchang<span class=\"_ _0\"></span>e rate when exchan<span class=\"_ _0\"></span>geabilit<span class=\"_ _0\"></span>y is lac<span class=\"_ _0\"></span>king, a<span class=\"_ _0\"></span>s well as require th<span class=\"_ _0\"></span>e disclosure of inform<span class=\"_ _0\"></span>ation that en<span class=\"_ _0\"></span>ables use<span class=\"_ _0\"></span>rs of financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents to unde<span class=\"_ _0\"></span>rsta<span class=\"_ _0\"></span>nd the impac<span class=\"_ _0\"></span>t of a curren<span class=\"_ _0\"></span>cy not be<span class=\"_ _0\"></span>ing exchang<span class=\"_ _0\"></span>eable. T<span class=\"_ _0\"></span>hese ame<span class=\"_ _0\"></span>ndment<span class=\"_ _0\"></span>s are not expe<span class=\"_ _0\"></span>cted to have any impa<span class=\"_ _0\"></span>ct on the G<span class=\"_ _0\"></span>roup.<span class=\"_ _3bd\"> </span>Ame<span class=\"_ _0\"></span>ndme<span class=\"_ _0\"></span>nts to th<span class=\"_ _0\"></span>e Class<span class=\"_ _0\"></span>ificat<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d Measu<span class=\"_ _0\"></span>reme<span class=\"_ _0\"></span>nt of Finan<span class=\"_ _0\"></span>cial I<span class=\"_ _0\"></span>nstr<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s \u2013 Amend<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s to IFRS 9 an<span class=\"_ _0\"></span>d IFRS 7 (1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y 2026<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span>The IAS<span class=\"_ _0\"></span>B issu<span class=\"_ _0\"></span>ed targ<span class=\"_ _0\"></span>eted amen<span class=\"_ _0\"></span>dments to I<span class=\"_ _0\"></span>FRS 9 and IFR<span class=\"_ _0\"></span>S 7 to respond to re<span class=\"_ _0\"></span>cent que<span class=\"_ _0\"></span>stions ari<span class=\"_ _0\"></span>sing in prac<span class=\"_ _0\"></span>tice. Th<span class=\"_ _0\"></span>ese amen<span class=\"_ _0\"></span>dments<span class=\"_ _0\"></span>: \u2022 <span class=\"_ _19\"> </span>cla<span class=\"_ _0\"></span>rify the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion and dere<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion of some finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, with a new exce<span class=\"_ _0\"></span>ption for some fin<span class=\"_ _0\"></span>ancial liab<span class=\"_ _0\"></span>ilities set<span class=\"_ _0\"></span>tled throu<span class=\"_ _0\"></span>gh an elec<span class=\"_ _0\"></span>tronic ca<span class=\"_ _0\"></span>sh transfe<span class=\"_ _0\"></span>r system; \u2022 <span class=\"_ _19\"> </span>cla<span class=\"_ _0\"></span>rify an<span class=\"_ _0\"></span>d add fur<span class=\"_ _0\"></span>ther guid<span class=\"_ _0\"></span>ance for as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sing whethe<span class=\"_ _0\"></span>r a financial a<span class=\"_ _0\"></span>sset m<span class=\"_ _0\"></span>eets th<span class=\"_ _0\"></span>e solely paym<span class=\"_ _0\"></span>ents of princ<span class=\"_ _0\"></span>ipal and intere<span class=\"_ _0\"></span>st (\u2018<span class=\"_ _0\"></span>SPPI<span class=\"_ _0\"></span>\u2019) cri<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rion; \u2022 <span class=\"_ _19\"> </span>ad<span class=\"_ _0\"></span>d new disclo<span class=\"_ _0\"></span>sures for cer<span class=\"_ _0\"></span>tain ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s with contr<span class=\"_ _0\"></span>actual te<span class=\"_ _0\"></span>rms that c<span class=\"_ _0\"></span>an chang<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>uch as som<span class=\"_ _0\"></span>e financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts with feat<span class=\"_ _0\"></span>ures linked to the ac<span class=\"_ _0\"></span>hievement of environ<span class=\"_ _0\"></span>ment, so<span class=\"_ _0\"></span>cial and g<span class=\"_ _0\"></span>overnanc<span class=\"_ _0\"></span>e target<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>); a<span class=\"_ _0\"></span>nd \u2022 <span class=\"_ _19\"> </span>upd<span class=\"_ _0\"></span>ate the disclo<span class=\"_ _0\"></span>sures for equi<span class=\"_ _0\"></span>ty ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d at fair value th<span class=\"_ _0\"></span>rough other c<span class=\"_ _0\"></span>omprehe<span class=\"_ _0\"></span>nsive incom<span class=\"_ _0\"></span>e (\u2018F<span class=\"_ _0\"></span>V<span class=\"_ _2\"></span>O<span class=\"_ _0\"></span>CI\u2019<span class=\"_ _0\"></span>). The Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect t<span class=\"_ _0\"></span>hese am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to have a material imp<span class=\"_ _0\"></span>act on it<span class=\"_ _0\"></span>s operatio<span class=\"_ _0\"></span>ns or cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Annual Impro<span class=\"_ _2\"></span>vements to IF<span class=\"_ _2\"></span>RS Accounting S<span class=\"_ _2\"></span>tandards \u2014 V<span class=\"_ _2\"></span>olume 11<span class=\"_ _2\"></span> (1 January 2026)<span class=\"_ _3bd\"> </span>As par<span class=\"_ _0\"></span>t of the IAS<span class=\"_ _0\"></span>B\u2019s Annual Im<span class=\"_ _0\"></span>provements p<span class=\"_ _0\"></span>roces<span class=\"_ _0\"></span>s it has is<span class=\"_ _0\"></span>sued mino<span class=\"_ _0\"></span>r amendme<span class=\"_ _0\"></span>nts to addre<span class=\"_ _0\"></span>ss potential a<span class=\"_ _0\"></span>reas of confus<span class=\"_ _0\"></span>ion within the followin<span class=\"_ _0\"></span>g st<span class=\"_ _0\"></span>andards: I<span class=\"_ _0\"></span>FRS 1 Firs<span class=\"_ _0\"></span>t-<span class=\"_ _2\"></span>tim<span class=\"_ _0\"></span>e Adoption of Intern<span class=\"_ _0\"></span>ational Fin<span class=\"_ _0\"></span>ancial Rep<span class=\"_ _0\"></span>ortin<span class=\"_ _0\"></span>g Standa<span class=\"_ _0\"></span>rds \u2013 hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing by a first-time a<span class=\"_ _0\"></span>dopter); IFRS 7 F<span class=\"_ _0\"></span>inancial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s: Discl<span class=\"_ _0\"></span>osures \u2013 gain o<span class=\"_ _0\"></span>r loss on de<span class=\"_ _0\"></span>recogn<span class=\"_ _0\"></span>ition and cla<span class=\"_ _0\"></span>rification<span class=\"_ _0\"></span>s within implem<span class=\"_ _0\"></span>entation g<span class=\"_ _0\"></span>uidance; I<span class=\"_ _0\"></span>FRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s \u2013 lesse<span class=\"_ _0\"></span>e dere<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f l<span class=\"_ _0\"></span>ease liabili<span class=\"_ _0\"></span>ties and tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ion price; I<span class=\"_ _0\"></span>FRS 10 Co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d Financi<span class=\"_ _0\"></span>al Stateme<span class=\"_ _0\"></span>nts \u2013 determin<span class=\"_ _0\"></span>ation of a \u2019d<span class=\"_ _0\"></span>e facto ag<span class=\"_ _0\"></span>ent\u2019; and IAS 7 Statem<span class=\"_ _0\"></span>ent of Cash Flow<span class=\"_ _0\"></span>s \u2013 cost me<span class=\"_ _0\"></span>thod. The Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect t<span class=\"_ _0\"></span>hese am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to have a material imp<span class=\"_ _0\"></span>act on it<span class=\"_ _0\"></span>s operatio<span class=\"_ _0\"></span>ns or cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>IFRS 18 P<span class=\"_ _2\"></span>resentation and Disclosur<span class=\"_ _2\"></span>e in Financial S<span class=\"_ _2\"></span>tatements (1 J<span class=\"_ _2\"></span>anuar<span class=\"_ _0\"></span>y 20<span class=\"_ _2\"></span>27)<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>ew stand<span class=\"_ _0\"></span>ard will replac<span class=\"_ _0\"></span>e IAS 1 Present<span class=\"_ _0\"></span>ation of financ<span class=\"_ _0\"></span>ial statem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, introducin<span class=\"_ _0\"></span>g new requirem<span class=\"_ _0\"></span>ents tha<span class=\"_ _0\"></span>t will help to achieve c<span class=\"_ _0\"></span>omparabili<span class=\"_ _0\"></span>ty of<span class=\"_ gs47\"> </span>the finan<span class=\"_ _0\"></span>cial per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e of similar entitie<span class=\"_ _0\"></span>s and provide mo<span class=\"_ _0\"></span>re relevant informatio<span class=\"_ _0\"></span>n and trans<span class=\"_ _0\"></span>parency to u<span class=\"_ _0\"></span>sers<span class=\"_ _0\"></span>. Ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n though I<span class=\"_ _0\"></span>FRS 18 will not im<span class=\"_ _0\"></span>pact th<span class=\"_ _0\"></span>e rec<span class=\"_ _0\"></span>ognition or m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of items in the fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s, it<span class=\"_ _0\"></span>s impact<span class=\"_ _0\"></span>s on prese<span class=\"_ _0\"></span>ntation and dis<span class=\"_ _0\"></span>closure are ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d to be per<span class=\"_ _0\"></span>vasive, par<span class=\"_ _0\"></span>ticularl<span class=\"_ _0\"></span>y those rel<span class=\"_ _0\"></span>ated to the st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce and the ide<span class=\"_ _0\"></span>ntification a<span class=\"_ _0\"></span>nd disclo<span class=\"_ _0\"></span>sure of manag<span class=\"_ _0\"></span>ement-defin<span class=\"_ _0\"></span>ed per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e mea<span class=\"_ _0\"></span>sures within th<span class=\"_ _0\"></span>e financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment is curre<span class=\"_ _0\"></span>ntly asse<span class=\"_ _0\"></span>ssing th<span class=\"_ _0\"></span>e detaile<span class=\"_ _0\"></span>d implication<span class=\"_ _0\"></span>s of applying th<span class=\"_ _0\"></span>e new sta<span class=\"_ _0\"></span>ndard on the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s. From the high<span class=\"_ _0\"></span>-level prelimin<span class=\"_ _0\"></span>ary as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d, the followin<span class=\"_ _0\"></span>g potential impa<span class=\"_ _0\"></span>cts have b<span class=\"_ _0\"></span>een identi<span class=\"_ _0\"></span>fied: \u2022 <span class=\"_ _19\"> </span>Alth<span class=\"_ _0\"></span>ough the a<span class=\"_ _0\"></span>doption of IFRS 1<span class=\"_ _0\"></span>8 will have no impa<span class=\"_ _0\"></span>ct on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s net p<span class=\"_ _0\"></span>rofit, the Gro<span class=\"_ _0\"></span>up expec<span class=\"_ _0\"></span>ts that gro<span class=\"_ _0\"></span>uping items of inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt int<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e new cate<span class=\"_ _0\"></span>gories will im<span class=\"_ _0\"></span>pact how o<span class=\"_ _0\"></span>perating p<span class=\"_ _0\"></span>rofit is calc<span class=\"_ _0\"></span>ulated and rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d. For example<span class=\"_ _0\"></span>, the Group is likely to spe<span class=\"_ _0\"></span>cify inves<span class=\"_ _0\"></span>ting ac<span class=\"_ _0\"></span>tivities as a m<span class=\"_ _0\"></span>ain busines<span class=\"_ _0\"></span>s activ<span class=\"_ _0\"></span>ity whic<span class=\"_ _0\"></span>h will result in inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>enses f<span class=\"_ _0\"></span>rom inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting ac<span class=\"_ _0\"></span>tivities b<span class=\"_ _0\"></span>eing group<span class=\"_ _0\"></span>ed within th<span class=\"_ _0\"></span>e operatin<span class=\"_ _0\"></span>g catego<span class=\"_ _0\"></span>ry of the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt, rathe<span class=\"_ _0\"></span>r than in the inves<span class=\"_ _0\"></span>ting cate<span class=\"_ _0\"></span>gor<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Furth<span class=\"_ _0\"></span>ermore, t<span class=\"_ _0\"></span>he line items in th<span class=\"_ _0\"></span>e prima<span class=\"_ _0\"></span>ry finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements m<span class=\"_ _0\"></span>ight chang<span class=\"_ _0\"></span>e to achieve the o<span class=\"_ _0\"></span>bjec<span class=\"_ _0\"></span>tive of a \u2018<span class=\"_ _2\"></span>us<span class=\"_ _0\"></span>eful struc<span class=\"_ _0\"></span>tured s<span class=\"_ _0\"></span>ummar<span class=\"_ _0\"></span>y\u2019 as<span class=\"_ gs47\"> </span>define<span class=\"_ _0\"></span>d in IFRS 18<span class=\"_ _0\"></span>, and th<span class=\"_ _0\"></span>e Group may cho<span class=\"_ _0\"></span>ose to inclu<span class=\"_ _0\"></span>de addition<span class=\"_ _0\"></span>al sub-totals<span class=\"_ _0\"></span>, where p<span class=\"_ _0\"></span>ermit<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d, in order to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>de more unde<span class=\"_ _0\"></span>rstan<span class=\"_ _0\"></span>dable informati<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Alte<span class=\"_ _0\"></span>rnative Perfor<span class=\"_ _0\"></span>mance M<span class=\"_ _0\"></span>easure (<span class=\"_ _0\"></span>\u2018<span class=\"_ _4\"></span>APM<span class=\"_ _0\"></span>\u2019) of a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is cons<span class=\"_ _0\"></span>idered to me<span class=\"_ _0\"></span>et the definit<span class=\"_ _0\"></span>ion in IFRS 1<span class=\"_ _0\"></span>8 o<span class=\"_ _2\"></span>f a man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt -defined p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance me<span class=\"_ _0\"></span>asure and wh<span class=\"_ _0\"></span>ilst the Gro<span class=\"_ _0\"></span>up currently provi<span class=\"_ _0\"></span>des subst<span class=\"_ _0\"></span>antial informati<span class=\"_ _0\"></span>on about ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit, inclu<span class=\"_ _0\"></span>ding a recon<span class=\"_ _0\"></span>ciliation to the m<span class=\"_ _0\"></span>ost direc<span class=\"_ _0\"></span>tly comp<span class=\"_ _0\"></span>arable total in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment, I<span class=\"_ _0\"></span>FRS 18 co<span class=\"_ _0\"></span>ntains more pre<span class=\"_ _0\"></span>scriptive discl<span class=\"_ _0\"></span>osure require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>ere will be t<span class=\"_ _0\"></span>wo new define<span class=\"_ _0\"></span>d sub-totals in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent; ope<span class=\"_ _0\"></span>rating profit an<span class=\"_ _0\"></span>d profit before fina<span class=\"_ _0\"></span>ncing and in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes. \u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Group does n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>t there to be a sig<span class=\"_ _0\"></span>nificant ch<span class=\"_ _0\"></span>ange in the inform<span class=\"_ _0\"></span>ation that is c<span class=\"_ _0\"></span>urrently disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e notes bec<span class=\"_ _0\"></span>ause th<span class=\"_ _0\"></span>e requireme<span class=\"_ _0\"></span>nt to discl<span class=\"_ _0\"></span>ose materia<span class=\"_ _0\"></span>l inf<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rmation rema<span class=\"_ _0\"></span>ins unchan<span class=\"_ _0\"></span>ged; howeve<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, the way in whic<span class=\"_ _0\"></span>h the information is g<span class=\"_ _0\"></span>rouped mi<span class=\"_ _0\"></span>ght chang<span class=\"_ _0\"></span>e as a result of the e<span class=\"_ _0\"></span>nhance<span class=\"_ _0\"></span>d agg<span class=\"_ _0\"></span>regatio<span class=\"_ _0\"></span>n/<span class=\"_ _4\"></span>dis<span class=\"_ _0\"></span>aggre<span class=\"_ _0\"></span>gation prin<span class=\"_ _0\"></span>ciples<span class=\"_ _0\"></span>, part<span class=\"_ _0\"></span>icularly for ite<span class=\"_ _0\"></span>ms currently la<span class=\"_ _0\"></span>belled a<span class=\"_ _0\"></span>s \u2018<span class=\"_ _2\"></span>othe<span class=\"_ _0\"></span>r\u2019<span class=\"_ _4\"></span>. For th<span class=\"_ _0\"></span>e first an<span class=\"_ _0\"></span>nual perio<span class=\"_ _0\"></span>d of applicati<span class=\"_ _0\"></span>on of IFRS 18<span class=\"_ _0\"></span>, a rec<span class=\"_ _0\"></span>onciliation for e<span class=\"_ _0\"></span>ach line item in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e restate<span class=\"_ _0\"></span>d amounts p<span class=\"_ _0\"></span>resented by a<span class=\"_ _0\"></span>pplying I<span class=\"_ _0\"></span>FRS 18 and t<span class=\"_ _0\"></span>he amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly prese<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d applyin<span class=\"_ _0\"></span>g IAS 1. \u2022 <span class=\"_ _19\"> </span>From a cas<span class=\"_ _0\"></span>h flow state<span class=\"_ _0\"></span>ment per<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive, the Gro<span class=\"_ _0\"></span>up is required to us<span class=\"_ _0\"></span>e the oper<span class=\"_ _0\"></span>ating profit sub<span class=\"_ _0\"></span>-t<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al as a sta<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>oint for the st<span class=\"_ _0\"></span>atement of ca<span class=\"_ _0\"></span>sh flows wh<span class=\"_ _0\"></span>en prese<span class=\"_ _0\"></span>nting opera<span class=\"_ _0\"></span>ting cash fl<span class=\"_ _0\"></span>ows under th<span class=\"_ _0\"></span>e indirect m<span class=\"_ _0\"></span>ethod.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up will apply th<span class=\"_ _0\"></span>e new stan<span class=\"_ _0\"></span>dard from it<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>y effe<span class=\"_ _0\"></span>ctive date of 1 Janu<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>27<span class=\"_ _4\"></span>. Retro<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive applicati<span class=\"_ _0\"></span>on is required<span class=\"_ _0\"></span>, and so th<span class=\"_ _0\"></span>e comp<span class=\"_ _0\"></span>arative informatio<span class=\"_ _0\"></span>n f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the financi<span class=\"_ _0\"></span>al year endin<span class=\"_ _0\"></span>g 31 Dece<span class=\"_ _0\"></span>mber 202<span class=\"_ _0\"></span>6 will be rest<span class=\"_ _0\"></span>ated in acc<span class=\"_ _0\"></span>ordanc<span class=\"_ _0\"></span>e with IFRS 1<span class=\"_ _0\"></span>8, inc<span class=\"_ _0\"></span>luding a rec<span class=\"_ _0\"></span>onciliation for eac<span class=\"_ _0\"></span>h line item in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt betwe<span class=\"_ _0\"></span>en the res<span class=\"_ _0\"></span>tated am<span class=\"_ _0\"></span>ounts appl<span class=\"_ _0\"></span>ying IFRS 1<span class=\"_ _0\"></span>8 and the am<span class=\"_ _0\"></span>ounts previo<span class=\"_ _0\"></span>usly pres<span class=\"_ _0\"></span>ented appl<span class=\"_ _0\"></span>ying IAS 1.<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g 2025 the Gro<span class=\"_ _0\"></span>up will carr<span class=\"_ _0\"></span>y out a det<span class=\"_ _0\"></span>ailed impa<span class=\"_ _0\"></span>ct ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent to identif<span class=\"_ _0\"></span>y the act<span class=\"_ _0\"></span>ions require<span class=\"_ _0\"></span>d and set mil<span class=\"_ _0\"></span>estone<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r implement<span class=\"_ _0\"></span>ation act<span class=\"_ _0\"></span>ivities.<span class=\"_ _3bd\"> </span>IFRS 19 Subsidiar<span class=\"_ _2\"></span>ies without<span class=\"_ _2\"></span> Public Accountabil<span class=\"_ _2\"></span>it<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> (1 January 2027)<span class=\"_ _3bd\"> </span>IFR<span class=\"_ _0\"></span>S 19 allows for c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain eligible sub<span class=\"_ _0\"></span>sidiaries of pare<span class=\"_ _0\"></span>nt entities th<span class=\"_ _0\"></span>at repor<span class=\"_ _0\"></span>t under IFR<span class=\"_ _0\"></span>S Accountin<span class=\"_ _0\"></span>g Standa<span class=\"_ _0\"></span>rds to apply re<span class=\"_ _0\"></span>duced dis<span class=\"_ _0\"></span>closure require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not exp<span class=\"_ _0\"></span>ect this s<span class=\"_ _0\"></span>tanda<span class=\"_ _0\"></span>rd to have an impac<span class=\"_ _0\"></span>t on its ope<span class=\"_ _0\"></span>rations or c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>Sa<span class=\"_ _0\"></span>le or Co<span class=\"_ _0\"></span>ntribut<span class=\"_ _0\"></span>ion of As<span class=\"_ _0\"></span>sets b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en an Inves<span class=\"_ _0\"></span>tor an<span class=\"_ _0\"></span>d its As<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ate or Joi<span class=\"_ _0\"></span>nt V<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>nture (A<span class=\"_ _0\"></span>mend<span class=\"_ _0\"></span>ments t<span class=\"_ _0\"></span>o IFRS 10 a<span class=\"_ _0\"></span>nd IAS 28<span class=\"_ _0\"></span>)  (Ef<span class=\"_ _0\"></span>fecti<span class=\"_ _0\"></span>ve date defe<span class=\"_ _0\"></span>rred)<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s addres<span class=\"_ _0\"></span>s the conflic<span class=\"_ _0\"></span>t bet<span class=\"_ _0\"></span>ween IFR<span class=\"_ _0\"></span>S 10 and IAS 2<span class=\"_ _0\"></span>8 in dealing with t<span class=\"_ _0\"></span>he loss of cont<span class=\"_ _0\"></span>rol of a subsidiar<span class=\"_ _0\"></span>y that is s<span class=\"_ _0\"></span>old or contrib<span class=\"_ _0\"></span>uted to<span class=\"_ gs47\"> </span>an as<span class=\"_ _0\"></span>sociate or j<span class=\"_ _0\"></span>oint venture. The<span class=\"_ _0\"></span>se amen<span class=\"_ _0\"></span>dments are n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>ted to have any impac<span class=\"_ _0\"></span>t on the Group.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing amendm<span class=\"_ _0\"></span>ents to st<span class=\"_ _0\"></span>andards lis<span class=\"_ _0\"></span>ted above h<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ve b<span class=\"_ _0\"></span>een end<span class=\"_ _0\"></span>orsed fo<span class=\"_ _0\"></span>r use in the UK by th<span class=\"_ _0\"></span>e UK Endor<span class=\"_ _0\"></span>sement B<span class=\"_ _0\"></span>oard:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>La<span class=\"_ _0\"></span>ck of Excha<span class=\"_ _0\"></span>ngeabili<span class=\"_ _0\"></span>ty (Am<span class=\"_ _0\"></span>endment<span class=\"_ _0\"></span>s to IAS 21 The Ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of Change<span class=\"_ _0\"></span>s in Foreign E<span class=\"_ _0\"></span>xchang<span class=\"_ _0\"></span>e Rates); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Ann<span class=\"_ _0\"></span>ual Improveme<span class=\"_ _0\"></span>nts to IFRS Ac<span class=\"_ _0\"></span>counting St<span class=\"_ _0\"></span>andards \u2014 Volume 11<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-579": {
   "value": "B. Earnings performance<span class=\"_ _3bd\"> </span>B1. Segm<span class=\"_ _0\"></span>en<span class=\"_ _2\"></span>tal analysis<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up defines an<span class=\"_ _0\"></span>d present<span class=\"_ _0\"></span>s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with IFRS 8 Ope<span class=\"_ _0\"></span>rating S<span class=\"_ _0\"></span>egment<span class=\"_ _0\"></span>s which re<span class=\"_ _0\"></span>quires such s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts to be bas<span class=\"_ _0\"></span>ed on the<span class=\"_ gs47\"> </span>inform<span class=\"_ _0\"></span>ation which is provi<span class=\"_ _0\"></span>ded to the Bo<span class=\"_ _0\"></span>ard, and th<span class=\"_ _0\"></span>erefore segm<span class=\"_ _0\"></span>ental informa<span class=\"_ _0\"></span>tion in this note is pre<span class=\"_ _0\"></span>sented on a dif<span class=\"_ _0\"></span>ferent bas<span class=\"_ _0\"></span>is from profit or los<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s. An ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment is a c<span class=\"_ _0\"></span>omponent of th<span class=\"_ _0\"></span>e Group that en<span class=\"_ _0\"></span>gage<span class=\"_ _0\"></span>s in busines<span class=\"_ _0\"></span>s activ<span class=\"_ _0\"></span>ities from whic<span class=\"_ _0\"></span>h it may earn reven<span class=\"_ _0\"></span>ues and inc<span class=\"_ _0\"></span>ur expens<span class=\"_ _0\"></span>es, inclu<span class=\"_ _0\"></span>ding revenues a<span class=\"_ _0\"></span>nd expen<span class=\"_ _0\"></span>ses relatin<span class=\"_ _0\"></span>g to transa<span class=\"_ _0\"></span>ctions wit<span class=\"_ _0\"></span>h other comp<span class=\"_ _0\"></span>onents of th<span class=\"_ _0\"></span>e Group. For man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt purpos<span class=\"_ _0\"></span>es the Group is organ<span class=\"_ _0\"></span>ised into value c<span class=\"_ _0\"></span>entres and h<span class=\"_ _0\"></span>as five oper<span class=\"_ _0\"></span>ating seg<span class=\"_ _0\"></span>ments c<span class=\"_ _0\"></span>omprising Re<span class=\"_ _0\"></span>tirement So<span class=\"_ _0\"></span>lutions<span class=\"_ _0\"></span>, Pensions &amp; S<span class=\"_ _0\"></span>avings<span class=\"_ _0\"></span>, With-Profit<span class=\"_ _0\"></span>s, S<span class=\"_ _0\"></span>unLife &amp; Protec<span class=\"_ _0\"></span>tion, and Euro<span class=\"_ _0\"></span>pe &amp; Othe<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. For re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting purpos<span class=\"_ _0\"></span>es, o<span class=\"_ _0\"></span>perating s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts are agg<span class=\"_ _0\"></span>regate<span class=\"_ _0\"></span>d where they sh<span class=\"_ _0\"></span>are similar e<span class=\"_ _0\"></span>conomic ch<span class=\"_ _0\"></span>aracte<span class=\"_ _0\"></span>ristic<span class=\"_ _0\"></span>s inclu<span class=\"_ _0\"></span>ding the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s and ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>, t<span class=\"_ _0\"></span>ypes of cus<span class=\"_ _0\"></span>tomers an<span class=\"_ _0\"></span>d the nature of th<span class=\"_ _0\"></span>e regulator<span class=\"_ _0\"></span>y environm<span class=\"_ _0\"></span>ent. The S<span class=\"_ _0\"></span>unLife &amp; Protecti<span class=\"_ _0\"></span>on ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment ha<span class=\"_ _0\"></span>s been ag<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ated with the Europ<span class=\"_ _0\"></span>e operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ent into the Europe &amp; O<span class=\"_ _0\"></span>ther rep<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>ble segm<span class=\"_ _0\"></span>ent. The Ret<span class=\"_ _0\"></span>irement So<span class=\"_ _0\"></span>lutions se<span class=\"_ _0\"></span>gment inc<span class=\"_ _0\"></span>ludes new a<span class=\"_ _0\"></span>nd in-force individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y and Bulk P<span class=\"_ _0\"></span>urchase An<span class=\"_ _0\"></span>nuity c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts writ<span class=\"_ _0\"></span>ten within share<span class=\"_ _0\"></span>holder fund<span class=\"_ _0\"></span>s, with the e<span class=\"_ _0\"></span>xception of individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y contra<span class=\"_ _0\"></span>cts wri<span class=\"_ _0\"></span>tten as a re<span class=\"_ _0\"></span>sult of Guara<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ed Annui<span class=\"_ _0\"></span>ty Optio<span class=\"_ _0\"></span>ns on with-profit c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts. S<span class=\"_ _0\"></span>uch contra<span class=\"_ _0\"></span>cts remain in t<span class=\"_ _0\"></span>he With-Profit<span class=\"_ _0\"></span>s seg<span class=\"_ _0\"></span>ment following th<span class=\"_ _0\"></span>e transitio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>, as they f<span class=\"_ _0\"></span>all within the cont<span class=\"_ _0\"></span>ract bo<span class=\"_ _0\"></span>undar<span class=\"_ _0\"></span>y of the origin<span class=\"_ _0\"></span>al savings or p<span class=\"_ _0\"></span>ension contr<span class=\"_ _0\"></span>act.<span class=\"_ gs47\"> </span>T<span class=\"_ _0\"></span>he Retirement S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s segme<span class=\"_ _0\"></span>nt also incl<span class=\"_ _0\"></span>udes UK in<span class=\"_ _0\"></span>dividual ann<span class=\"_ _0\"></span>uity bu<span class=\"_ _0\"></span>siness wr<span class=\"_ _0\"></span>itten wit<span class=\"_ _0\"></span>hin the Stand<span class=\"_ _0\"></span>ard Life Herita<span class=\"_ _0\"></span>ge With-<span class=\"_ _0\"></span>Profits Fund as the p<span class=\"_ _0\"></span>rofits are prim<span class=\"_ _0\"></span>arily attr<span class=\"_ _0\"></span>ibutable to th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder throu<span class=\"_ _0\"></span>gh the Rec<span class=\"_ _0\"></span>ourse Ca<span class=\"_ _0\"></span>sh Flow mec<span class=\"_ _0\"></span>hanism es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed on dem<span class=\"_ _0\"></span>utualisat<span class=\"_ _0\"></span>ion. The Pens<span class=\"_ _0\"></span>ions &amp; Savin<span class=\"_ _0\"></span>gs segm<span class=\"_ _0\"></span>ent includ<span class=\"_ _0\"></span>es new and in-forc<span class=\"_ _0\"></span>e life insuranc<span class=\"_ _0\"></span>e and investm<span class=\"_ _0\"></span>ent unit-linked policie<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of pensi<span class=\"_ _0\"></span>ons and savin<span class=\"_ _0\"></span>gs produ<span class=\"_ _0\"></span>cts tha<span class=\"_ _0\"></span>t the Group co<span class=\"_ _0\"></span>ntinues to ac<span class=\"_ _0\"></span>tively market to new an<span class=\"_ _0\"></span>d existing p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders<span class=\"_ _0\"></span>.<span class=\"_ gs47\"> </span> This includ<span class=\"_ _0\"></span>es produc<span class=\"_ _0\"></span>ts such a<span class=\"_ _0\"></span>s workplac<span class=\"_ _0\"></span>e pension<span class=\"_ _0\"></span>s and Se<span class=\"_ _0\"></span>lf<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>Invested Per<span class=\"_ _0\"></span>sonal Pens<span class=\"_ _0\"></span>ion (\u2018<span class=\"_ _0\"></span>SIPPs\u2019<span class=\"_ _0\"></span>) distribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d through th<span class=\"_ _0\"></span>e Group\u2019s strateg<span class=\"_ _0\"></span>ic part<span class=\"_ _0\"></span>nership wi<span class=\"_ _0\"></span>th Aberde<span class=\"_ _0\"></span>en Group plc (forme<span class=\"_ _0\"></span>rly abrdn plc) now tradin<span class=\"_ _0\"></span>g as Aberd<span class=\"_ _0\"></span>een.<span class=\"_ gs47\"> </span>In a<span class=\"_ _0\"></span>ddition, i<span class=\"_ _0\"></span>t includes in<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>forc<span class=\"_ _0\"></span>e insuran<span class=\"_ _0\"></span>ce and invest<span class=\"_ _0\"></span>ment unit-linked produ<span class=\"_ _0\"></span>cts from le<span class=\"_ _0\"></span>gac<span class=\"_ _0\"></span>y busines<span class=\"_ _0\"></span>ses whic<span class=\"_ _0\"></span>h no longe<span class=\"_ _0\"></span>r ac<span class=\"_ _0\"></span>tively sell pro<span class=\"_ _0\"></span>duct<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and w<span class=\"_ _0\"></span>hich therefore r<span class=\"_ _0\"></span>un-off gr<span class=\"_ _0\"></span>adually over tim<span class=\"_ _0\"></span>e. The Pension<span class=\"_ _0\"></span>s &amp; Savings s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt also inclu<span class=\"_ _0\"></span>des UK uniti<span class=\"_ _0\"></span>sed busin<span class=\"_ _0\"></span>ess writ<span class=\"_ _0\"></span>ten in<span class=\"_ gs47\"> </span>the St<span class=\"_ _0\"></span>andard Life He<span class=\"_ _0\"></span>ritage W<span class=\"_ _0\"></span>ith-Profits f<span class=\"_ _0\"></span>unds<span class=\"_ _0\"></span>, as profits are pr<span class=\"_ _0\"></span>imarily at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to the share<span class=\"_ _0\"></span>holder thro<span class=\"_ _0\"></span>ugh the Re<span class=\"_ _0\"></span>course Cas<span class=\"_ _0\"></span>h Flow mech<span class=\"_ _0\"></span>anism.<span class=\"_ _3bd\"> </span>The Wi<span class=\"_ _0\"></span>th-Profits s<span class=\"_ _0\"></span>egment in<span class=\"_ _0\"></span>cludes a<span class=\"_ _0\"></span>ll policies wri<span class=\"_ _0\"></span>tten by the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds, with th<span class=\"_ _0\"></span>e exception of Sta<span class=\"_ _0\"></span>ndard Life Heri<span class=\"_ _0\"></span>tage Wit<span class=\"_ _0\"></span>h-Profits Fund contr<span class=\"_ _0\"></span>acts refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in other seg<span class=\"_ _0\"></span>ments a<span class=\"_ _0\"></span>s noted above for Retire<span class=\"_ _0\"></span>ment Sol<span class=\"_ _0\"></span>utions and Pen<span class=\"_ _0\"></span>sions &amp; Savin<span class=\"_ _0\"></span>gs where profit<span class=\"_ _0\"></span>s are primar<span class=\"_ _0\"></span>ily at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the shareh<span class=\"_ _0\"></span>older thro<span class=\"_ _0\"></span>ugh the Rec<span class=\"_ _0\"></span>ourse C<span class=\"_ _0\"></span>ash Flow me<span class=\"_ _0\"></span>chanism<span class=\"_ _0\"></span>. The Europ<span class=\"_ _0\"></span>e &amp; Other s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt includes b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s writte<span class=\"_ _0\"></span>n in Ireland an<span class=\"_ _0\"></span>d Germany. This inc<span class=\"_ _0\"></span>ludes prod<span class=\"_ _0\"></span>ucts th<span class=\"_ _0\"></span>at are activel<span class=\"_ _0\"></span>y being ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>ete<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o n<span class=\"_ _0\"></span>ew polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s and leg<span class=\"_ _0\"></span>acy in-force p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s that are no lon<span class=\"_ _0\"></span>ger be<span class=\"_ _0\"></span>ing sold to new c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs.<span class=\"_ gs47\"> </span> Th<span class=\"_ _0\"></span>e segm<span class=\"_ _0\"></span>ent also inc<span class=\"_ _0\"></span>ludes protec<span class=\"_ _0\"></span>tion produ<span class=\"_ _0\"></span>cts an<span class=\"_ _0\"></span>d produ<span class=\"_ _0\"></span>cts so<span class=\"_ _0\"></span>ld under the S<span class=\"_ _0\"></span>unLife bran<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>orporate C<span class=\"_ _0\"></span>entre seg<span class=\"_ _0\"></span>ment, whi<span class=\"_ _0\"></span>ch is not a repor<span class=\"_ _0\"></span>tab<span class=\"_ _0\"></span>le segm<span class=\"_ _0\"></span>ent, princ<span class=\"_ _0\"></span>ipally comp<span class=\"_ _0\"></span>rises ce<span class=\"_ _0\"></span>ntral hea<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>fice co<span class=\"_ _0\"></span>sts tha<span class=\"_ _0\"></span>t are not direct<span class=\"_ _0\"></span>ly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the Group\u2019s insuran<span class=\"_ _0\"></span>ce or investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>ts.<span class=\"_ gs47\"> </span>M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s are alloc<span class=\"_ _0\"></span>ated to the four rep<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>able seg<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Inter-s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt transa<span class=\"_ _0\"></span>ctions are s<span class=\"_ _0\"></span>et on an arm\u2019s length b<span class=\"_ _0\"></span>asis in a manne<span class=\"_ _0\"></span>r similar to tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns with third par<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>. Seg<span class=\"_ _0\"></span>mental re<span class=\"_ _0\"></span>sults incl<span class=\"_ _0\"></span>ude those tran<span class=\"_ _0\"></span>sfers bet<span class=\"_ _0\"></span>ween b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s segm<span class=\"_ _0\"></span>ents which a<span class=\"_ _0\"></span>re then elimina<span class=\"_ _0\"></span>ted on cons<span class=\"_ _0\"></span>olidation<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Segmental measu<span class=\"_ _2\"></span>re of perfo<span class=\"_ _2\"></span>rmance: Adjusted<span class=\"_ _2\"></span> operating pr<span class=\"_ _2\"></span>ofit<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up uses a no<span class=\"_ _0\"></span>n-GAA<span class=\"_ _0\"></span>P measure of pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce, be<span class=\"_ _0\"></span>ing adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit<span class=\"_ _0\"></span>, to evaluate se<span class=\"_ _0\"></span>gmenta<span class=\"_ _0\"></span>l perfor<span class=\"_ _0\"></span>mance. A<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to provide a comp<span class=\"_ _0\"></span>arable me<span class=\"_ _0\"></span>asure of the unde<span class=\"_ _0\"></span>rlying pe<span class=\"_ _0\"></span>rforman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>act of<span class=\"_ gs47\"> </span>sho<span class=\"_ _0\"></span>rt-term ec<span class=\"_ _0\"></span>onomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other item<span class=\"_ _0\"></span>s. The follow<span class=\"_ _0\"></span>ing sets o<span class=\"_ _0\"></span>ut the adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating profi<span class=\"_ _0\"></span>t methodo<span class=\"_ _0\"></span>logy<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>For unit-linked bus<span class=\"_ _0\"></span>iness ac<span class=\"_ _0\"></span>counted for un<span class=\"_ _0\"></span>der IFRS 9<span class=\"_ _0\"></span>, adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the fe<span class=\"_ _0\"></span>es colle<span class=\"_ _0\"></span>cted from c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs less o<span class=\"_ _0\"></span>perating expe<span class=\"_ _0\"></span>nses inc<span class=\"_ _0\"></span>luding overhe<span class=\"_ _0\"></span>ads. For unit-linked and wi<span class=\"_ _0\"></span>th-profits b<span class=\"_ _0\"></span>usiness a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for under IFR<span class=\"_ _0\"></span>S 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit inclu<span class=\"_ _0\"></span>des the rele<span class=\"_ _0\"></span>ase of the risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment, amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion of CSM<span class=\"_ _0\"></span>, and dem<span class=\"_ _0\"></span>ographi<span class=\"_ _0\"></span>c experien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es in the pe<span class=\"_ _0\"></span>riod.<span class=\"_ _3bd\"> </span>For share<span class=\"_ _0\"></span>holder a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, other n<span class=\"_ _0\"></span>on-profit busin<span class=\"_ _0\"></span>ess an<span class=\"_ _0\"></span>d with-profits f<span class=\"_ _0\"></span>unds rec<span class=\"_ _0\"></span>eiving share<span class=\"_ _0\"></span>holder s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t acco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the re<span class=\"_ _0\"></span>lease of the r<span class=\"_ _0\"></span>isk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>, amor<span class=\"_ _0\"></span>tisation of CS<span class=\"_ _0\"></span>M, an<span class=\"_ _0\"></span>d demog<span class=\"_ _0\"></span>raphic exp<span class=\"_ _0\"></span>erience v<span class=\"_ _0\"></span>ariance<span class=\"_ _0\"></span>s in the perio<span class=\"_ _0\"></span>d. Adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit als<span class=\"_ _0\"></span>o incorp<span class=\"_ _0\"></span>orates an exp<span class=\"_ _0\"></span>ected re<span class=\"_ _0\"></span>turn on the fina<span class=\"_ _0\"></span>ncial invest<span class=\"_ _0\"></span>ments ba<span class=\"_ _0\"></span>cking this bu<span class=\"_ _0\"></span>siness a<span class=\"_ _0\"></span>nd any surplus a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, with allow<span class=\"_ _0\"></span>ance for the c<span class=\"_ _0\"></span>orrespon<span class=\"_ _0\"></span>ding moveme<span class=\"_ _0\"></span>nt i<span class=\"_ _2\"></span>n li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the ab<span class=\"_ _0\"></span>ove items for non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss writ<span class=\"_ _0\"></span>ten in a with-profit<span class=\"_ _0\"></span>s fund whe<span class=\"_ _0\"></span>re these am<span class=\"_ _0\"></span>ounts do not a<span class=\"_ _0\"></span>ccrue direc<span class=\"_ _0\"></span>tly to the share<span class=\"_ _0\"></span>holder. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit in<span class=\"_ _0\"></span>cludes th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f ex<span class=\"_ _0\"></span>perien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es relating to th<span class=\"_ _0\"></span>e current pe<span class=\"_ _0\"></span>riod for non-<span class=\"_ _0\"></span>econo<span class=\"_ _0\"></span>mic items<span class=\"_ _0\"></span>, such as mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty and exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s. It als<span class=\"_ _0\"></span>o incorpor<span class=\"_ _0\"></span>ates the impa<span class=\"_ _0\"></span>cts of as<span class=\"_ _0\"></span>set tradin<span class=\"_ _0\"></span>g and por<span class=\"_ _0\"></span>tfolio re<span class=\"_ _0\"></span>balanc<span class=\"_ _0\"></span>ing where not refl<span class=\"_ _0\"></span>ected in t<span class=\"_ _0\"></span>he discount r<span class=\"_ _0\"></span>ate used in cal<span class=\"_ _0\"></span>culating exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d return.<span class=\"_ _3bd\"> </span>Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit is re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted net of polic<span class=\"_ _0\"></span>yholder fin<span class=\"_ _0\"></span>ance ch<span class=\"_ _0\"></span>arges and p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder tax<span class=\"_ _0\"></span>. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>acts of th<span class=\"_ _0\"></span>e following items<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>Economic var<span class=\"_ _2\"></span>iances \u2022 <span class=\"_ _19\"> </span>the dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>en act<span class=\"_ _0\"></span>ual and exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d experien<span class=\"_ _0\"></span>ce for eco<span class=\"_ _0\"></span>nomic items re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt, impac<span class=\"_ _0\"></span>ts of<span class=\"_ gs47\"> </span>eco<span class=\"_ _0\"></span>nomic as<span class=\"_ _0\"></span>sumptions on th<span class=\"_ _0\"></span>e valuation of liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured under t<span class=\"_ _0\"></span>he Gener<span class=\"_ _0\"></span>al Mode<span class=\"_ _0\"></span>l and the ch<span class=\"_ _0\"></span>ange in value of lo<span class=\"_ _0\"></span>ss comp<span class=\"_ _0\"></span>onents on<span class=\"_ gs47\"> </span>V<span class=\"_ _2\"></span>ari<span class=\"_ _0\"></span>able Fee Appro<span class=\"_ _0\"></span>ach busin<span class=\"_ _0\"></span>ess res<span class=\"_ _0\"></span>ulting from market movem<span class=\"_ _0\"></span>ents on und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ec<span class=\"_ _0\"></span>onomic vola<span class=\"_ _0\"></span>tility ari<span class=\"_ _0\"></span>sing from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s he<span class=\"_ _0\"></span>dging str<span class=\"_ _0\"></span>ategy whi<span class=\"_ _0\"></span>ch is calibra<span class=\"_ _0\"></span>ted to protect th<span class=\"_ _0\"></span>e Solven<span class=\"_ _0\"></span>cy II ca<span class=\"_ _0\"></span>pital posi<span class=\"_ _0\"></span>tion and ca<span class=\"_ _0\"></span>sh gen<span class=\"_ _0\"></span>eration c<span class=\"_ _0\"></span>apabilit<span class=\"_ _0\"></span>y of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ws1\">th<span class=\"_ _0\"></span>e acco<span class=\"_ _0\"></span>unting mismatc<span class=\"_ _0\"></span>h resulting from th<span class=\"_ _0\"></span>e applica<span class=\"_ _0\"></span>tion of IFRS 17 bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement of non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss in a with-profit<span class=\"_ _0\"></span>s fund (noted<span class=\"_ _0\"></span> </span>above) and th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in fair value of this bu<span class=\"_ _0\"></span>siness in<span class=\"_ _0\"></span>cluded w<span class=\"_ _0\"></span>ithin the mea<span class=\"_ _0\"></span>surement of the w<span class=\"_ _0\"></span>ith-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s under th<span class=\"_ _0\"></span>e V<span class=\"_ _4\"></span>ari<span class=\"_ _0\"></span>able Fee App<span class=\"_ _0\"></span>roach;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g mismatch re<span class=\"_ _0\"></span>sulting from bu<span class=\"_ _0\"></span>y-in contra<span class=\"_ _0\"></span>cts bet<span class=\"_ _0\"></span>wee<span class=\"_ _0\"></span>n the Group\u2019s pension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s and Phoe<span class=\"_ _0\"></span>nix Life Limited, th<span class=\"_ _0\"></span>e Group\u2019s main insur<span class=\"_ _0\"></span>ance subs<span class=\"_ _0\"></span>idiary. The mis<span class=\"_ _0\"></span>match repre<span class=\"_ _0\"></span>sents the d<span class=\"_ _0\"></span>ifferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>ween the unwin<span class=\"_ _0\"></span>d of the IAS 19 dis<span class=\"_ _0\"></span>count rate c<span class=\"_ _0\"></span>alculated w<span class=\"_ _0\"></span>ith reference to a A<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>-ra<span class=\"_ _0\"></span>ted corpo<span class=\"_ _0\"></span>rate bond an<span class=\"_ _0\"></span>d the expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s on the back<span class=\"_ _0\"></span>ing ass<span class=\"_ _0\"></span>ets; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of th<span class=\"_ _0\"></span>e mismatch b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n chang<span class=\"_ _0\"></span>es in estim<span class=\"_ _0\"></span>ates of future c<span class=\"_ _0\"></span>ash flows on G<span class=\"_ _0\"></span>eneral M<span class=\"_ _0\"></span>odel co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d at current dis<span class=\"_ _0\"></span>count rates and th<span class=\"_ _0\"></span>e corresp<span class=\"_ _0\"></span>onding ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt to the CSM m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at the disco<span class=\"_ _0\"></span>unt rate locked-in at in<span class=\"_ _0\"></span>ception<span class=\"_ _0\"></span>. Other<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and impa<span class=\"_ _0\"></span>irment of A<span class=\"_ _2\"></span>VIF an<span class=\"_ _0\"></span>d brand inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets (net of po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er tax)<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>fina<span class=\"_ _0\"></span>nce cos<span class=\"_ _0\"></span>ts at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to owners;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ga<span class=\"_ _0\"></span>ins or loss<span class=\"_ _0\"></span>es on the ac<span class=\"_ _0\"></span>quisition or dis<span class=\"_ _0\"></span>posal of sub<span class=\"_ _0\"></span>sidiaries (net of rel<span class=\"_ _0\"></span>ated cos<span class=\"_ _0\"></span>ts);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the fin<span class=\"_ _0\"></span>ancial imp<span class=\"_ _0\"></span>acts of m<span class=\"_ _0\"></span>andator<span class=\"_ _0\"></span>y regulato<span class=\"_ _0\"></span>ry ch<span class=\"_ _0\"></span>ange;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>rofit or loss at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>integ<span class=\"_ _0\"></span>ration, re<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>turing or othe<span class=\"_ _0\"></span>r significa<span class=\"_ _0\"></span>nt one-of<span class=\"_ _0\"></span>f proje<span class=\"_ _0\"></span>cts imp<span class=\"_ _0\"></span>acting th<span class=\"_ _0\"></span>e income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>any othe<span class=\"_ _0\"></span>r items which<span class=\"_ _0\"></span>, in the Direc<span class=\"_ _0\"></span>tor\u2019s view, should be di<span class=\"_ _0\"></span>sclose<span class=\"_ _0\"></span>d separ<span class=\"_ _0\"></span>ately by virt<span class=\"_ _0\"></span>ue of their nat<span class=\"_ _0\"></span>ure or inciden<span class=\"_ _0\"></span>ce to enable a f<span class=\"_ _0\"></span>ull under<span class=\"_ _0\"></span>stan<span class=\"_ _0\"></span>ding of the Group\u2019s financ<span class=\"_ _0\"></span>ial per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. This is t<span class=\"_ _0\"></span>ypically th<span class=\"_ _0\"></span>e case wh<span class=\"_ _0\"></span>ere the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e item is not refle<span class=\"_ _0\"></span>ctive of the unde<span class=\"_ _0\"></span>rlying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies. The ite<span class=\"_ _0\"></span>ms exclude<span class=\"_ _0\"></span>d from adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit are refer<span class=\"_ _0\"></span>red to as \u2018non-op<span class=\"_ _0\"></span>erating ite<span class=\"_ _0\"></span>ms\u2019<span class=\"_ _4\"></span>. Whil<span class=\"_ _0\"></span>st the exclu<span class=\"_ _0\"></span>ded items are im<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ant to an ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of the con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance of the Gro<span class=\"_ _0\"></span>up, manag<span class=\"_ _0\"></span>ement co<span class=\"_ _0\"></span>nsider<span class=\"_ _0\"></span>s that the pres<span class=\"_ _0\"></span>entation of ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit provides a g<span class=\"_ _0\"></span>ood indic<span class=\"_ _0\"></span>ator of the underl<span class=\"_ _0\"></span>ying per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e of the Group\u2019s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents and th<span class=\"_ _0\"></span>e Group use<span class=\"_ _0\"></span>s this, as p<span class=\"_ _0\"></span>art of a suite of me<span class=\"_ _0\"></span>asures<span class=\"_ _0\"></span>, for decis<span class=\"_ _0\"></span>ion-<span class=\"_ _3bd\"> </span>makin<span class=\"_ _0\"></span>g and monitor<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. The Group\u2019s adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit s<span class=\"_ _0\"></span>hould be re<span class=\"_ _0\"></span>ad in conj<span class=\"_ _0\"></span>unction wi<span class=\"_ _0\"></span>th the IFRS profi<span class=\"_ _0\"></span>t before tax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>B1.1<span class=\"_ _2\"></span> Segmental resul<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span>Notes<span class=\"_ _3bd\"> </span><table class=\"s w23c h20b\" id=\"_dd7f2a6a-7f6b-4683-be10-47fbbe94660a\"><tr><td></td><td></td><td></td><td class=\"t m0 x1cd ha y5aee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x1ce h29 y5aef ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5af1 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x1d2 h29 y5af2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5af2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5af3 ff3 fs6 fc3 sc0 ls1a ws1b\">Adjus<span class=\"_ _0\"></span>ted operatin<span class=\"_ _0\"></span>g<span class=\"_ _2\"></span> pr<span class=\"_ _0\"></span>ofit<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5af4 w23d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x51f y5af4 w23e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">474<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x520 y5af4 w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">378<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af5 w23f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x521 y5af5 w240 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">316<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x522 y5af5 w241 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af6 w242 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x523 y5af6 w243 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x524 y5af6 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af7 w244 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x525 y5af7 w245 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls81 ws14c\">96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x526 y5af7 wfe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af8 w246 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Corp<span class=\"_ _0\"></span>orate Ce<span class=\"_ _0\"></span>ntre<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x527 y5af8 w127 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(10<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x528 y5af8 w247 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(93<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af9 w248 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal segmen<span class=\"_ _2\"></span>tal adjusted opera<span class=\"_ _2\"></span>ting pro<span class=\"_ _2\"></span>fit<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x529 y5af9 w249 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">825<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52a y5af9 w24a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">6<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w24b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic variances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52b y5a68 w24c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">B2.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52c y5a68 w24d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52d y5a68 w24e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a69 w71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on and impairm<span class=\"_ _0\"></span>ent of acquire<span class=\"_ _0\"></span>d in-f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rce busine<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x52e y5a69 w17e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(26<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52f y5a69 w74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a6a w24f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of brand intan<span class=\"_ _0\"></span>gibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x530 y5a6a w76 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">G2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x531 y5a6a w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x532 y5a6a w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a6b w252 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other non-operat<span class=\"_ _2\"></span>ing items<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x533 y5a6b w253 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x534 y5a6b w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(439<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a27 w254 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>ce cos<span class=\"_ _0\"></span>ts on borrow<span class=\"_ _0\"></span>ing attr<span class=\"_ _0\"></span>ibutable to own<span class=\"_ _0\"></span>ers<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x535 y5a27 w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x536 y5a27 w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(19<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w255 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit befor<span class=\"_ _0\"></span>e the tax a<span class=\"_ _0\"></span>ttrib<span class=\"_ _0\"></span>utable to o<span class=\"_ _0\"></span>wners of th<span class=\"_ _0\"></span>e parent<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x537 y5afa w175 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>46<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x538 y5afa w5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a29 w256 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Profit before t<span class=\"_ _0\"></span>ax att<span class=\"_ _0\"></span>ributable to n<span class=\"_ _0\"></span>on-contro<span class=\"_ _0\"></span>lling interest<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x539 y5a29 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x53a y5a29 w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w8b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit befor<span class=\"_ _0\"></span>e the tax a<span class=\"_ _0\"></span>ttrib<span class=\"_ _0\"></span>utable to o<span class=\"_ _0\"></span>wners<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x20e y5a16 w8c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f y5a16 w8d h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span> Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1a5\">Oth<span class=\"_ _0\"></span>er non-o<span class=\"_ _0\"></span>perating i<span class=\"_ _0\"></span>tems in respe<span class=\"_ _0\"></span>ct of the year e<span class=\"_ _0\"></span>nded 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 include:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1a6\">\u2022 <span class=\"_ _19\"> </span>\u00a32<span class=\"_ _0\"></span>08 million los<span class=\"_ _0\"></span>s reflec<span class=\"_ _0\"></span>ting the net l<span class=\"_ _0\"></span>oss from the d<span class=\"_ _0\"></span>ereco<span class=\"_ _0\"></span>gnition of the IAS 1<span class=\"_ _0\"></span>9 defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation and re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right<span class=\"_ _0\"></span>s and the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1a7\">rec<span class=\"_ _0\"></span>ognition of an ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>nd ass<span class=\"_ _0\"></span>ociated rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts following th<span class=\"_ _0\"></span>e completi<span class=\"_ _0\"></span>on of the PGL Pens<span class=\"_ _0\"></span>ion Sche<span class=\"_ _0\"></span>me buy-<span class=\"_ _0\"></span>out </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1a8\">tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n. A gain of \u00a31<span class=\"_ _0\"></span>08 million a<span class=\"_ _0\"></span>rose on the rem<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of the BEL an<span class=\"_ _0\"></span>d risk adju<span class=\"_ _0\"></span>stment us<span class=\"_ _0\"></span>ing the disc<span class=\"_ _0\"></span>ount rate implicit in t<span class=\"_ _0\"></span>he buy-o<span class=\"_ _0\"></span>ut </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1a9\">tran<span class=\"_ _0\"></span>sfer amount at in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition an<span class=\"_ _0\"></span>d the Group\u2019s discount r<span class=\"_ _0\"></span>ate applied for th<span class=\"_ _0\"></span>e subseq<span class=\"_ _0\"></span>uent mea<span class=\"_ _0\"></span>surement of ann<span class=\"_ _0\"></span>uity ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1aa\">reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s immediate<span class=\"_ _0\"></span>ly after ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition. T<span class=\"_ _0\"></span>he resulting n<span class=\"_ _0\"></span>et loss of \u00a31<span class=\"_ _0\"></span>06 milli<span class=\"_ _0\"></span>on also incl<span class=\"_ _0\"></span>udes pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me wind up co<span class=\"_ _0\"></span>sts of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ab\">\u00a36 million in<span class=\"_ _0\"></span>curred in the p<span class=\"_ _0\"></span>eriod to date. N<span class=\"_ _0\"></span>ote G1 provides m<span class=\"_ _0\"></span>ore detail on the d<span class=\"_ _0\"></span>ereco<span class=\"_ _0\"></span>gnition of the IAS 1<span class=\"_ _0\"></span>9 balan<span class=\"_ _0\"></span>ces;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ac\">\u2022 <span class=\"_ _19\"> </span>\u00a31<span class=\"_ _0\"></span>34 million of cos<span class=\"_ _0\"></span>ts as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the delive<span class=\"_ _0\"></span>ry of the G<span class=\"_ _0\"></span>roup T<span class=\"_ _4\"></span>arg<span class=\"_ _0\"></span>et Oper<span class=\"_ _0\"></span>ating Mode<span class=\"_ _0\"></span>l for IT and Op<span class=\"_ _0\"></span>erations<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding the migr<span class=\"_ _0\"></span>ation of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ad\">polic<span class=\"_ _0\"></span>yholder a<span class=\"_ _0\"></span>dministr<span class=\"_ _0\"></span>ation onto the T<span class=\"_ _2\"></span>ata C<span class=\"_ _0\"></span>onsultan<span class=\"_ _0\"></span>cy Se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s (\u2018TCS<span class=\"_ _0\"></span>\u2019) p<span class=\"_ _0\"></span>latform<span class=\"_ _0\"></span>. Under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted cos<span class=\"_ _0\"></span>ts in resp<span class=\"_ _0\"></span>ect of this ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y that </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ae\">are direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts have be<span class=\"_ _0\"></span>en include<span class=\"_ _0\"></span>d within insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1af\">\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a39<span class=\"_ _0\"></span>3 million ass<span class=\"_ _0\"></span>ociated wit<span class=\"_ _0\"></span>h finance tr<span class=\"_ _0\"></span>ansformat<span class=\"_ _0\"></span>ion activi<span class=\"_ _0\"></span>ties, in<span class=\"_ _0\"></span>cluding the m<span class=\"_ _0\"></span>igration to clo<span class=\"_ _0\"></span>ud-bas<span class=\"_ _0\"></span>ed sys<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms and enh<span class=\"_ _0\"></span>ancem<span class=\"_ _0\"></span>ents to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b0\">ac<span class=\"_ _0\"></span>tuarial mo<span class=\"_ _0\"></span>delling and re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting capa<span class=\"_ _0\"></span>bilities and th<span class=\"_ _0\"></span>e related co<span class=\"_ _0\"></span>ntrol environme<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b1\">\u2022 <span class=\"_ _19\"> </span>\u00a38<span class=\"_ _0\"></span>0 million of cos<span class=\"_ _0\"></span>ts ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th strate<span class=\"_ _0\"></span>gic growt<span class=\"_ _0\"></span>h initiatives<span class=\"_ _0\"></span>, including d<span class=\"_ _0\"></span>evelopment of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s I<span class=\"_ _0\"></span>nternal Mo<span class=\"_ _0\"></span>del, invest<span class=\"_ _0\"></span>ment in digita<span class=\"_ _0\"></span>l and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b2\">direc<span class=\"_ _0\"></span>t asset s<span class=\"_ _0\"></span>ourcing c<span class=\"_ _0\"></span>apabilities<span class=\"_ _0\"></span>, and tr<span class=\"_ _0\"></span>ansformat<span class=\"_ _0\"></span>ion of the Group\u2019s operatin<span class=\"_ _0\"></span>g model to s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t efficie<span class=\"_ _0\"></span>nt growth; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b3\">\u2022 <span class=\"_ _19\"> </span>\u00a343 million of co<span class=\"_ _0\"></span>sts as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with deliver<span class=\"_ _0\"></span>y of the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s 3-ye<span class=\"_ _0\"></span>ar cost s<span class=\"_ _0\"></span>aving progr<span class=\"_ _0\"></span>amme; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b4\">\u2022 <span class=\"_ _19\"> </span>\u00a32<span class=\"_ _0\"></span>2 million of cost<span class=\"_ _0\"></span>s ass<span class=\"_ _0\"></span>ociated wit<span class=\"_ _0\"></span>h ongoing inte<span class=\"_ _0\"></span>gration pro<span class=\"_ _0\"></span>gramme<span class=\"_ _0\"></span>s; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b5\">\u2022 <span class=\"_ _19\"> </span>C<span class=\"_ _0\"></span>orporate pro<span class=\"_ _0\"></span>ject c<span class=\"_ _0\"></span>osts a<span class=\"_ _0\"></span>nd net other o<span class=\"_ _0\"></span>ne-of<span class=\"_ _0\"></span>f items totalling a c<span class=\"_ _0\"></span>ost of \u00a342 million. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b6\">Oth<span class=\"_ _0\"></span>er non-o<span class=\"_ _0\"></span>perating i<span class=\"_ _0\"></span>tems in respe<span class=\"_ _0\"></span>ct of the year e<span class=\"_ _0\"></span>nded 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2023 inc<span class=\"_ _0\"></span>lude:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b7\">\u2022 <span class=\"_ _19\"> </span>a ga<span class=\"_ _0\"></span>in on acquisit<span class=\"_ _0\"></span>ion of \u00a366 millio<span class=\"_ _0\"></span>n reflectin<span class=\"_ _0\"></span>g the exces<span class=\"_ _0\"></span>s of the fair value of th<span class=\"_ _0\"></span>e net ass<span class=\"_ _0\"></span>ets acq<span class=\"_ _0\"></span>uired over the con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n paid for the ac<span class=\"_ _0\"></span>quisition </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b8\">of Phoe<span class=\"_ _0\"></span>nix Life CA Holding<span class=\"_ _0\"></span>s Limited (Forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a UK Limited) (se<span class=\"_ _0\"></span>e note H2 for fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails);<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1b9\">\u2022 <span class=\"_ _19\"> </span>\u00a31<span class=\"_ _0\"></span>69 m<span class=\"_ _0\"></span>illion of cost<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with s<span class=\"_ _0\"></span>trategic g<span class=\"_ _0\"></span>rowth initi<span class=\"_ _0\"></span>atives, in<span class=\"_ _0\"></span>cluding inves<span class=\"_ _0\"></span>tment in digit<span class=\"_ _0\"></span>al and direc<span class=\"_ _0\"></span>t asset s<span class=\"_ _0\"></span>ourcing c<span class=\"_ _0\"></span>apabilities<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ba\">es<span class=\"_ _0\"></span>tablishm<span class=\"_ _0\"></span>ent of the Group\u2019s Bermu<span class=\"_ _0\"></span>dan reinsura<span class=\"_ _0\"></span>nce ope<span class=\"_ _0\"></span>rations an<span class=\"_ _0\"></span>d transform<span class=\"_ _0\"></span>ation of the Group\u2019s oper<span class=\"_ _0\"></span>ating mod<span class=\"_ _0\"></span>el to suppor<span class=\"_ _0\"></span>t effic<span class=\"_ _0\"></span>ient grow<span class=\"_ _0\"></span>th;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1bb\">\u2022 <span class=\"_ _19\"> </span>\u00a379 millio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>osts a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated with the d<span class=\"_ _0\"></span>eliver<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group T<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>rget Ope<span class=\"_ _0\"></span>rating Mo<span class=\"_ _0\"></span>del for IT and O<span class=\"_ _0\"></span>peratio<span class=\"_ _0\"></span>ns, inc<span class=\"_ _0\"></span>luding the mig<span class=\"_ _0\"></span>ration of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1bc\">polic<span class=\"_ _0\"></span>yholder a<span class=\"_ _0\"></span>dministr<span class=\"_ _0\"></span>ation onto the T<span class=\"_ _2\"></span>ata C<span class=\"_ _0\"></span>onsultan<span class=\"_ _0\"></span>cy Se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s (\u2018TCS<span class=\"_ _0\"></span>\u2019) p<span class=\"_ _0\"></span>latform<span class=\"_ _0\"></span>. Under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted cos<span class=\"_ _0\"></span>ts in resp<span class=\"_ _0\"></span>ect of this ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y that </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1bd\">are direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts have be<span class=\"_ _0\"></span>en include<span class=\"_ _0\"></span>d within insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1be\">\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a36<span class=\"_ _0\"></span>5 million ass<span class=\"_ _0\"></span>ociated w<span class=\"_ _0\"></span>ith the implem<span class=\"_ _0\"></span>entation of I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1bf\">\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a352 million as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with financ<span class=\"_ _0\"></span>e transfo<span class=\"_ _0\"></span>rmation ac<span class=\"_ _0\"></span>tivities<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g the migratio<span class=\"_ _0\"></span>n to cloud-b<span class=\"_ _0\"></span>ased sy<span class=\"_ _0\"></span>stems an<span class=\"_ _0\"></span>d enhanc<span class=\"_ _0\"></span>ements to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c0\">ac<span class=\"_ _0\"></span>tuarial mo<span class=\"_ _0\"></span>delling c<span class=\"_ _0\"></span>apabilities an<span class=\"_ _0\"></span>d the relate<span class=\"_ _0\"></span>d control environm<span class=\"_ _0\"></span>ent;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c1\">\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a349 million as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n by Part VII t<span class=\"_ _0\"></span>ransfer of four of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Life C<span class=\"_ _0\"></span>ompanies into a sin<span class=\"_ _0\"></span>gle entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, c<span class=\"_ _0\"></span>ompleted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c2\">in<span class=\"_ gs47\"> </span>the se<span class=\"_ _0\"></span>cond h<span class=\"_ _0\"></span>alf of 2023;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c3\">\u2022 <span class=\"_ _19\"> </span>a \u00a33<span class=\"_ _0\"></span>6 million adve<span class=\"_ _0\"></span>rse impa<span class=\"_ _0\"></span>ct from the s<span class=\"_ _0\"></span>trength<span class=\"_ _0\"></span>ening of act<span class=\"_ _0\"></span>uarial res<span class=\"_ _0\"></span>erves a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated with the Pa<span class=\"_ _0\"></span>rt VII tr<span class=\"_ _0\"></span>ansfer of ce<span class=\"_ _0\"></span>rtain Euro<span class=\"_ _0\"></span>pean bus<span class=\"_ _0\"></span>iness from </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c4\">the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s UK Life C<span class=\"_ _0\"></span>ompanies to a n<span class=\"_ _0\"></span>ewly est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d European s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c5\">\u2022 <span class=\"_ _19\"> </span>\u00a332 m<span class=\"_ _0\"></span>illion of cost<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with on<span class=\"_ _0\"></span>going inte<span class=\"_ _0\"></span>gration pro<span class=\"_ _0\"></span>gramme<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c6\">\u2022 <span class=\"_ _19\"> </span>\u00a31<span class=\"_ _0\"></span>2 million of past s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s in relation to a Gro<span class=\"_ _0\"></span>up pension s<span class=\"_ _0\"></span>cheme (s<span class=\"_ _0\"></span>ee note G1 for fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails); and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c7\">\u2022 <span class=\"_ _19\"> </span>C<span class=\"_ _0\"></span>orporate pro<span class=\"_ _0\"></span>ject c<span class=\"_ _0\"></span>osts a<span class=\"_ _0\"></span>nd net other o<span class=\"_ _0\"></span>ne-of<span class=\"_ _0\"></span>f items totalling a c<span class=\"_ _0\"></span>ost of \u00a311 milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c8\">Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment ret<span class=\"_ _0\"></span>urn varianc<span class=\"_ _0\"></span>es and ec<span class=\"_ _0\"></span>onomic as<span class=\"_ _0\"></span>sumption ch<span class=\"_ _0\"></span>anges o<span class=\"_ _0\"></span>n long-term b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, and th<span class=\"_ _0\"></span>e variance o<span class=\"_ _0\"></span>n owners\u2019 fun<span class=\"_ _0\"></span>ds are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1c9\">inclu<span class=\"_ _0\"></span>ded in note B2.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs1ca\">B1.2 Seg<span class=\"_ _0\"></span>men<span class=\"_ _2\"></span>tal revenue<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h29 ff3 fs5 fc3 sc0 lsa4 ws9f gs1cb\">2024<span class=\"_ _3bd\"> </span></div><div class=\"gs1cc\"><table class=\"s w257 h20e\" id=\"_6447b041-8d68-4f6a-bfcc-dd622e28bdc5\"><tr><td></td><td class=\"t m0 x53b h29 y5afb ff3 fs5 fc3 sc0 lsbe wsbe\">Retirement </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y5afc ff3 fs5 fc3 sc0 ls8d ws86\">Solutions </td><td class=\"t m0 x53d h29 y5afc ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs </td><td class=\"t m0 x53e h29 y5afc ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f h29 y5afc ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther </td><td class=\"t m0 x540 h29 y5afc ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x541 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5afe ff2 fs6 fc3 sc0 ls13 ws14\">Revenue from e<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>ternal customers:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5aff w3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance r<span class=\"_ _2\"></span>evenue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x544 y5aff w258 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>918<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x545 y5aff w259 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x546 y5aff waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">378<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x547 y5aff w25a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">569<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x548 y5aff w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">5,1<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a8f w4e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Fees and commissions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x549 y5a8f w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54a y5a8f w25b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">886<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54b y5a8f w25c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54c y5a8f w25d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54d y5a8f w25e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _1\"></span>,0<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w25f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal segmen<span class=\"_ _2\"></span>tal rev<span class=\"_ _2\"></span>enue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54e y5a16 w258 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>918<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54f y5a16 w260 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,16<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x550 y5a16 w24e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x551 y5a16 w261 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1dd ws1f7\">659<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x552 y5a16 w262 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">6<span class=\"_ _0\"></span>,166<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs1cd\"><table class=\"s w263 h20f\" id=\"_7b958b0f-39dd-42f8-b87c-38732833c493\"><tr><td></td><td class=\"t m0 x553 ha y5b00 ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x554 ha y5b01 ff2 fs5 fc3 sc0 ls11 ws11\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x555 ha y5b01 ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; S<span class=\"_ _0\"></span>aving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x556 ha y5b01 ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x557 ha y5b01 ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5b01 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5b02 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x558 ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x559 ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55a ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55c ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5b03 ff2 fs6 fc3 sc0 ls13 ws14\">Revenue from e<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>ternal customers:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5aca w3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance r<span class=\"_ _2\"></span>evenue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x55d y5aca w264 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x55e y5aca w265 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x55f y5aca w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x560 y5aca w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">571<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x561 y5aca w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4,<span class=\"_ _0\"></span>861<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5acb w4e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Fees and commissions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x562 y5acb wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x563 y5acb w266 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x564 y5acb w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x565 y5acb w8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x566 y5acb w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">967<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w25f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal segmen<span class=\"_ _2\"></span>tal rev<span class=\"_ _2\"></span>enue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x567 y5a16 w269 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3,7<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x568 y5a16 w26a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x569 y5a16 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56a y5a16 w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">6<span class=\"_ _0\"></span>58<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56b y5a16 w26c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,828<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ce\">Of th<span class=\"_ _0\"></span>e revenue from ex<span class=\"_ _0\"></span>ternal c<span class=\"_ _0\"></span>ustomer<span class=\"_ _0\"></span>s presente<span class=\"_ _0\"></span>d in the tabl<span class=\"_ _0\"></span>e above, \u00a35,<span class=\"_ _0\"></span>89<span class=\"_ _0\"></span>5 million (2023<span class=\"_ _0\"></span>: \u00a35,<span class=\"_ _0\"></span>583 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>) i<span class=\"_ _0\"></span>s attribu<span class=\"_ _0\"></span>table to cus<span class=\"_ _0\"></span>tomers in t<span class=\"_ _0\"></span>he </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1cf\">Unite<span class=\"_ _0\"></span>d Kingdom (<span class=\"_ _0\"></span>\u2018UK<span class=\"_ _0\"></span>\u2019) an<span class=\"_ _0\"></span>d \u00a3271 million (20<span class=\"_ _0\"></span>23: \u00a3245 million) to the re<span class=\"_ _0\"></span>st of the world. N<span class=\"_ _0\"></span>o revenue tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ion with a single c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r extern<span class=\"_ _0\"></span>al to the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d0\">Group am<span class=\"_ _0\"></span>ounts to gre<span class=\"_ _0\"></span>ater than 1<span class=\"_ _0\"></span>0% of the Group\u2019s revenue. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d1\">The Gro<span class=\"_ _0\"></span>up has total n<span class=\"_ _0\"></span>on-current a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>othe<span class=\"_ _0\"></span>r than finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>, deferred ta<span class=\"_ _0\"></span>x asse<span class=\"_ _0\"></span>ts, p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes an<span class=\"_ _0\"></span>d rights ari<span class=\"_ _0\"></span>sing under in<span class=\"_ _0\"></span>surance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d2\">contr<span class=\"_ _0\"></span>acts) of<span class=\"_ gs47\"> </span>\u00a34,<span class=\"_ _0\"></span>325 million (2023<span class=\"_ _0\"></span>: \u00a33,<span class=\"_ _0\"></span>622 million) lo<span class=\"_ _0\"></span>cated in th<span class=\"_ _0\"></span>e UK and \u00a3274 million (2023: \u00a3<span class=\"_ _0\"></span>29<span class=\"_ _0\"></span>9 million) locate<span class=\"_ _0\"></span>d in the rest of th<span class=\"_ _0\"></span>e world.<span class=\"_ _3bd\"> </span></div>B2. Investment retur<span class=\"_ _2\"></span>n variances and economic assumption changes<span class=\"_ _3bd\"> </span>The lo<span class=\"_ _0\"></span>ng-term nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f m<span class=\"_ _0\"></span>uch of the Group\u2019s oper<span class=\"_ _0\"></span>ations mea<span class=\"_ _0\"></span>ns that, for inte<span class=\"_ _0\"></span>rnal per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce manag<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>cts of sho<span class=\"_ _0\"></span>rt-term ec<span class=\"_ _0\"></span>onomic volatilit<span class=\"_ _0\"></span>y are treate<span class=\"_ _0\"></span>d as non-o<span class=\"_ _0\"></span>peratin<span class=\"_ _0\"></span>g items. Th<span class=\"_ _0\"></span>e Group focu<span class=\"_ _0\"></span>ses inste<span class=\"_ _0\"></span>ad on an ad<span class=\"_ _0\"></span>justed o<span class=\"_ _0\"></span>perating p<span class=\"_ _0\"></span>rofit meas<span class=\"_ _0\"></span>ure that incorp<span class=\"_ _0\"></span>orates an exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d return on inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ting its l<span class=\"_ _0\"></span>ong-term b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>. The ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy adopte<span class=\"_ _0\"></span>d in the cal<span class=\"_ _0\"></span>culation of adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t is detaile<span class=\"_ _0\"></span>d in note B1<span class=\"_ _0\"></span>. The metho<span class=\"_ _0\"></span>dolog<span class=\"_ _0\"></span>y for the determin<span class=\"_ _0\"></span>ation of the expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment retur<span class=\"_ _0\"></span>n is explaine<span class=\"_ _0\"></span>d below tog<span class=\"_ _0\"></span>ether with an a<span class=\"_ _0\"></span>nalysis of inves<span class=\"_ _0\"></span>tment return var<span class=\"_ _0\"></span>iances a<span class=\"_ _0\"></span>nd econ<span class=\"_ _0\"></span>omic ass<span class=\"_ _0\"></span>umption chan<span class=\"_ _0\"></span>ges rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d outsi<span class=\"_ _0\"></span>de of adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating profit.<span class=\"_ _3bd\"> </span>B2<span class=\"_ _0\"></span>.1 Calcul<span class=\"_ _0\"></span>ation of t<span class=\"_ _0\"></span>he lon<span class=\"_ _0\"></span>g-te<span class=\"_ _0\"></span>rm invest<span class=\"_ _0\"></span>ment re<span class=\"_ _0\"></span>turn<span class=\"_ _3bd\"> </span>Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit for life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce busine<span class=\"_ _0\"></span>ss is bas<span class=\"_ _0\"></span>ed on expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment ret<span class=\"_ _0\"></span>urns on financ<span class=\"_ _0\"></span>ial investme<span class=\"_ _0\"></span>nts back<span class=\"_ _0\"></span>ing shareh<span class=\"_ _0\"></span>older, annuit<span class=\"_ _0\"></span>y, other non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss, wi<span class=\"_ _0\"></span>th-profits fun<span class=\"_ _0\"></span>ds recei<span class=\"_ _0\"></span>ving shareh<span class=\"_ _0\"></span>older sup<span class=\"_ _0\"></span>port a<span class=\"_ _0\"></span>nd surplus a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, with allow<span class=\"_ _0\"></span>ance for the c<span class=\"_ _0\"></span>orrespon<span class=\"_ _0\"></span>ding moveme<span class=\"_ _0\"></span>nts in liabilitie<span class=\"_ _0\"></span>s. The m<span class=\"_ _0\"></span>ethodolo<span class=\"_ _0\"></span>gy to determin<span class=\"_ _0\"></span>e the expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s on financia<span class=\"_ _0\"></span>l inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s uses the 1<span class=\"_ _0\"></span>-year ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-free ra<span class=\"_ _0\"></span>te f<span class=\"_ _2\"></span>or d<span class=\"_ _0\"></span>eriving the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d investm<span class=\"_ _0\"></span>ent return as<span class=\"_ _0\"></span>sumption on a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s backing th<span class=\"_ _0\"></span>e insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t liabilities to re<span class=\"_ _0\"></span>duce uninten<span class=\"_ _0\"></span>ded ec<span class=\"_ _0\"></span>onomic volatilit<span class=\"_ _0\"></span>y as se<span class=\"_ _0\"></span>t out in note B1. The lo<span class=\"_ _0\"></span>ng-term risk-free rate us<span class=\"_ _0\"></span>ed as the b<span class=\"_ _0\"></span>asis for deriv<span class=\"_ _0\"></span>ing the long<span class=\"_ _0\"></span>-term investme<span class=\"_ _0\"></span>nt return is con<span class=\"_ _0\"></span>sistent with t<span class=\"_ _0\"></span>hat set out in n<span class=\"_ _0\"></span>ote F11.<span class=\"_ _0\"></span>2.<span class=\"_ _2\"></span>1 at t<span class=\"_ _0\"></span>he 1-year duratio<span class=\"_ _0\"></span>n for asset<span class=\"_ _0\"></span>s backin<span class=\"_ _0\"></span>g the insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>act liabilitie<span class=\"_ _0\"></span>s and surpl<span class=\"_ _0\"></span>us cash as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, and at th<span class=\"_ _0\"></span>e 15-<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar duration for s<span class=\"_ _0\"></span>urplus non-<span class=\"_ _0\"></span>cash as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>. A risk pre<span class=\"_ _0\"></span>mium of 40<span class=\"_ _0\"></span>0 bps is adde<span class=\"_ _0\"></span>d to the risk-free yield for e<span class=\"_ _0\"></span>quities (202<span class=\"_ _0\"></span>3: 38<span class=\"_ _0\"></span>0 bps), 50 bps for pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>ies (2023: 5<span class=\"_ _0\"></span>0 bps) and 170 bps for debt se<span class=\"_ _0\"></span>curities (202<span class=\"_ _0\"></span>3: 130 bp<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>). The pr<span class=\"_ _0\"></span>incipal as<span class=\"_ _0\"></span>sumptions un<span class=\"_ _0\"></span>derlying th<span class=\"_ _0\"></span>e calcul<span class=\"_ _0\"></span>ation of the long<span class=\"_ _0\"></span>-t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rm investme<span class=\"_ _0\"></span>nt return for surplu<span class=\"_ _0\"></span>s asset<span class=\"_ _0\"></span>s are:<span class=\"_ gs47\"> </span> <table class=\"s w26d h210\" id=\"_94e29463-5d44-4a13-ba6f-41e46eae74cf\"><tr><td></td><td class=\"t m0 x1ce h29 y5b04 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5b04 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x56c h29 y5b05 ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x56d ha y5b05 ff2 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b06 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56e y5b06 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1eb ws209\">7.<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56f y5b06 w26e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ec ws20a\">7.<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w26f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rties<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x570 y5a15 w270 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x571 y5a15 w271 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x572 y5a16 w272 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">5.1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x573 y5a16 w273 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table>B2<span class=\"_ _0\"></span>.2 Life a<span class=\"_ _0\"></span>ssur<span class=\"_ _0\"></span>ance b<span class=\"_ _0\"></span>usine<span class=\"_ _0\"></span>ss The e<span class=\"_ _0\"></span>conomic va<span class=\"_ _0\"></span>riance<span class=\"_ _0\"></span>s excluded fro<span class=\"_ _0\"></span>m the long-ter<span class=\"_ _0\"></span>m busines<span class=\"_ _0\"></span>s operat<span class=\"_ _0\"></span>ing profit are as follow<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span><table class=\"s w274 h211\" id=\"_372d96a1-dfd0-4d20-87aa-00381b178cba\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5b07 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5b08 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5b09 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5b0a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b0b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w24b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic variances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x574 y5a16 w24d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x575 y5a16 w24e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>et adverse e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic variance<span class=\"_ _0\"></span>s of \u00a31,<span class=\"_ _0\"></span>297 million (2023<span class=\"_ _0\"></span>: \u00a3377 millio<span class=\"_ _0\"></span>n favourable (res<span class=\"_ _0\"></span>tated)) have prim<span class=\"_ _0\"></span>arily arisen a<span class=\"_ _0\"></span>s a result of highe<span class=\"_ _0\"></span>r yields an<span class=\"_ _0\"></span>d a rise in g<span class=\"_ _0\"></span>lobal equi<span class=\"_ _0\"></span>ty mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s. Moveme<span class=\"_ _0\"></span>nts in yields a<span class=\"_ _0\"></span>nd equit<span class=\"_ _0\"></span>y markets are h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d to protect o<span class=\"_ _0\"></span>ur Solvenc<span class=\"_ _0\"></span>y II surplu<span class=\"_ _0\"></span>s from volatilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, but o<span class=\"_ _0\"></span>ur IFRS bala<span class=\"_ _0\"></span>nce she<span class=\"_ _0\"></span>et is, in ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>, \u2018<span class=\"_ _2\"></span>over-h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d\u2019 as it do<span class=\"_ _0\"></span>es not reco<span class=\"_ _0\"></span>gnise the a<span class=\"_ _0\"></span>dditional S<span class=\"_ _0\"></span>olvenc<span class=\"_ _0\"></span>y II balan<span class=\"_ _0\"></span>ce shee<span class=\"_ _0\"></span>t items such a<span class=\"_ _0\"></span>s future profit<span class=\"_ _0\"></span>s on investme<span class=\"_ _0\"></span>nt contr<span class=\"_ _0\"></span>acts m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d under IFR<span class=\"_ _0\"></span>S 9 and the So<span class=\"_ _0\"></span>lvency Ca<span class=\"_ _0\"></span>pital Req<span class=\"_ _0\"></span>uirements<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>B3<span class=\"_ _0\"></span>. Earnings per s<span class=\"_ _0\"></span>hare<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up calcul<span class=\"_ _0\"></span>ates its ba<span class=\"_ _0\"></span>sic earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re based o<span class=\"_ _0\"></span>n the prese<span class=\"_ _0\"></span>nt shares in is<span class=\"_ _0\"></span>sue using th<span class=\"_ _0\"></span>e earning<span class=\"_ _0\"></span>s attrib<span class=\"_ _0\"></span>utable to ordin<span class=\"_ _0\"></span>ary e<span class=\"_ _0\"></span>quity h<span class=\"_ _0\"></span>olders of the pare<span class=\"_ _0\"></span>nt, divide<span class=\"_ _0\"></span>d by the weighted aver<span class=\"_ _0\"></span>age numb<span class=\"_ _0\"></span>er of ordinar<span class=\"_ _0\"></span>y shares in i<span class=\"_ _0\"></span>ssue durin<span class=\"_ _0\"></span>g the year<span class=\"_ _2\"></span>. Dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per share a<span class=\"_ _0\"></span>re calcula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d base<span class=\"_ _0\"></span>d on the potenti<span class=\"_ _0\"></span>al future sha<span class=\"_ _0\"></span>res in issue a<span class=\"_ _0\"></span>ssumin<span class=\"_ _0\"></span>g the conversi<span class=\"_ _0\"></span>on of all potentially dilu<span class=\"_ _0\"></span>tive ordinar<span class=\"_ _0\"></span>y share<span class=\"_ _0\"></span>s. The we<span class=\"_ _0\"></span>ighted averag<span class=\"_ _0\"></span>e number of ordin<span class=\"_ _0\"></span>ary s<span class=\"_ _0\"></span>hares in iss<span class=\"_ _0\"></span>ue is adju<span class=\"_ _0\"></span>sted to as<span class=\"_ _0\"></span>sume conver<span class=\"_ _0\"></span>sion of dilutive sha<span class=\"_ _0\"></span>re awards grante<span class=\"_ _0\"></span>d to employee<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The b<span class=\"_ _0\"></span>asic and dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re calculati<span class=\"_ _0\"></span>ons are also p<span class=\"_ _0\"></span>resented b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e Group\u2019s adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing cos<span class=\"_ _0\"></span>ts. Ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is a non-<span class=\"_ _0\"></span>GAAP pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce mea<span class=\"_ _0\"></span>sure that is con<span class=\"_ _0\"></span>sidered to p<span class=\"_ _0\"></span>rovide a compa<span class=\"_ _0\"></span>rable mea<span class=\"_ _0\"></span>sure of the under<span class=\"_ _0\"></span>lying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it excl<span class=\"_ _0\"></span>udes the imp<span class=\"_ _0\"></span>act of shor<span class=\"_ _0\"></span>t-term eco<span class=\"_ _0\"></span>nomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other items<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The re<span class=\"_ _0\"></span>sult attr<span class=\"_ _0\"></span>ibutable to or<span class=\"_ _0\"></span>dinary e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y holder<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e parent for the p<span class=\"_ _0\"></span>urpose<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>termining ear<span class=\"_ _0\"></span>nings pe<span class=\"_ _0\"></span>r share has b<span class=\"_ _0\"></span>een ca<span class=\"_ _0\"></span>lculated as<span class=\"_ gs47\"> </span>set o<span class=\"_ _0\"></span>ut below.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w275 h212\" id=\"_8d1ef942-3769-48cc-9ee0-cb3649fc748a\"><tr><td></td><td></td><td></td><td class=\"t m0 x576 h29 y5b0c ff3 fs5 fc3 sc0 ls9e ws9a\">Adjusted<span class=\"_ _2\"></span> operating </td><td class=\"t m0 x577 h29 y5b0c ff3 fs5 fc3 sc0 ls1 ws1\">Ot<span class=\"_ _0\"></span>her </td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y5b0d ff3 fs5 fc3 sc0 ls9e ws9a\">Adjusted<span class=\"_ _2\"></span> <span class=\"ls1 ws1\"> </span></td><td class=\"t m0 x578 h29 y5b0d ff3 fs5 fc3 sc0 ls9e ws9a\">Financing<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 h29 y5b0d ff3 fs5 fc3 sc0 ls1 ws1\">ea<span class=\"_ _0\"></span>rning<span class=\"_ _0\"></span>s net of </td><td class=\"t m0 x57a h29 y5b0d ff3 fs5 fc3 sc0 ls9e ws9a\">non-operati<span class=\"_ _2\"></span>ng </td><td></td></tr><tr><td></td><td class=\"t m0 x57b h29 y5b0e ff3 fs5 fc3 sc0 ls1 ws1\">op<span class=\"_ _0\"></span>erat<span class=\"_ _0\"></span>ing pr<span class=\"_ _0\"></span>ofit </td><td class=\"t m0 x57c h29 y5b0e ff3 fs5 fc3 sc0 lsa8 wsa3\"> costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x57d h29 y5b0e ff3 fs5 fc3 sc0 ls9e ws9a\">financing<span class=\"_ _2\"></span> costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1ce h29 y5b0e ff3 fs5 fc3 sc0 ls22 ws24\">items<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5b0e ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x541 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b10 w276 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(los<span class=\"_ _0\"></span>s) before the ta<span class=\"_ _0\"></span>x attrib<span class=\"_ _0\"></span>utable to owne<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x57e y5b10 w249 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">825<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x57f y5b10 w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x580 y5b10 w277 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">6<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x581 y5b10 w278 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>075<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x582 y5b10 w279 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>454)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b11 w27a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax (charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>cre<span class=\"_ _0\"></span>dit attrib<span class=\"_ _0\"></span>utable to own<span class=\"_ _0\"></span>ers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x583 y5b11 w27b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">(188)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x584 y5b11 w27c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x585 y5b11 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>137<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x586 y5b11 w27e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">513<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x587 y5b11 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b12 w27f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x588 y5b12 w190 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">6<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x589 y5b12 w17e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(15<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58a y5b12 w25a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">484<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58b y5b12 w280 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,56<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58c y5b12 w86 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>078<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b13 w281 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Co<span class=\"_ _0\"></span>upon paid on T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58d y5b13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58e y5b13 w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58f y5b13 w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x590 y5b13 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x591 y5b13 wca h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b14 w282 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct: S<span class=\"_ _0\"></span>hare of result at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x592 y5b14 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x593 y5b14 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x594 y5b14 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x595 y5b14 w1d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x596 y5b14 w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5b15 ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to ordina<span class=\"_ _0\"></span>ry eq<span class=\"_ _0\"></span>uity </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w283 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">holders of the<span class=\"_ _2\"></span> parent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x597 y5a16 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">6<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x598 y5a16 w127 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(18<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x599 y5a16 w284 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1de ws1f9\">455<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x59a y5a16 w285 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>74)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x582 y5a16 w286 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(1<span class=\"_ _0\"></span>,119)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w287 h213\" id=\"_d2ffe326-69a5-44db-ac28-62bac33d54f7\"><tr><td></td><td></td><td></td><td class=\"t m0 x59b ha y5b16 ff2 fs5 fc3 sc0 ls1 ws1\">Adj<span class=\"_ _0\"></span>uste<span class=\"_ _0\"></span>d ope<span class=\"_ _0\"></span>ratin<span class=\"_ _0\"></span>g </td><td class=\"t m0 x577 ha y5b16 ff2 fs5 fc3 sc0 ls4d wsbf\">Other </td><td></td></tr><tr><td></td><td class=\"t m0 x59c ha y5b17 ff2 fs5 fc3 sc0 ls1 ws1\">Adj<span class=\"_ _0\"></span>uste<span class=\"_ _0\"></span>d </td><td class=\"t m0 x59d ha y5b17 ff2 fs5 fc3 sc0 ls54 ws7f\">Financing<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59e ha y5b17 ff2 fs5 fc3 sc0 ls1 ws1\">ea<span class=\"_ _0\"></span>rning<span class=\"_ _0\"></span>s net of </td><td class=\"t m0 x59f ha y5b17 ff2 fs5 fc3 sc0 ls11 ws11\">non-operating<span class=\"ls1 ws1\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x5a0 ha y5b18 ff2 fs5 fc3 sc0 ls1 ws1\">op<span class=\"_ _0\"></span>erati<span class=\"_ _0\"></span>ng<span class=\"_ gs1f7\"> </span>profi<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a1 ha y5b18 ff2 fs5 fc3 sc0 lsa8 wsa3\">costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59e ha y5b18 ff2 fs5 fc3 sc0 ls54 ws7f\">financing<span class=\"_ _2\"></span> costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a2 ha y5b18 ff2 fs5 fc3 sc0 ls4d wsbf\">items<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5b18 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5b19 w288 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">2023 (restated)</div><div class=\"t m0 x5a3 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x5a4 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b1b w276 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(los<span class=\"_ _0\"></span>s) before the ta<span class=\"_ _0\"></span>x attrib<span class=\"_ _0\"></span>utable to owne<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a5 y5b1b w14f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">629<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a6 y5b1b w4a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(195<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a7 y5b1b w14e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">434<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x480 y5b1b w1dc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>356)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a8 y5b1b w197 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1c w27a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax (charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>cre<span class=\"_ _0\"></span>dit attrib<span class=\"_ _0\"></span>utable to own<span class=\"_ _0\"></span>ers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a9 y5b1c w207 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">(134<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5aa y5b1c w1a1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x255 y5b1c w1d5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(88)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ab y5b1c w289 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ac y5b1c w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b12 w27f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x588 y5b12 w28a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ad y5b12 w28b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ae y5b12 w4d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">346<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5af y5b12 w28c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b0 y5b12 w98 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1d w28d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Co<span class=\"_ _0\"></span>upon paid on T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _0\"></span>, net of tax re<span class=\"_ _0\"></span>lief<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b1 y5b1d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b2 y5b1d wbe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b3 y5b1d w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b4 y5b1d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b5 y5b1d w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1e w282 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct: S<span class=\"_ _0\"></span>hare of result at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b6 y5b1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b7 y5b1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b8 y5b1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b9 y5b1e w28e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ba y5b1e w28f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5b1f ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to ordina<span class=\"_ _0\"></span>ry eq<span class=\"_ _0\"></span>uity </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w283 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">holders of the<span class=\"_ _2\"></span> parent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x597 y5a16 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5bb y5a16 w20a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>171<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5bc y5a16 we1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">324<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5bd y5a16 w290 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(29<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5be y5a16 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e number of ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares out<span class=\"_ _0\"></span>standin<span class=\"_ _0\"></span>g during the p<span class=\"_ _0\"></span>eriod is c<span class=\"_ _0\"></span>alculated a<span class=\"_ _0\"></span>s follows:<span class=\"_ _3bd\"> </span><table class=\"s w291 h214\" id=\"_0d39adf7-59cc-4c2e-84fb-a4f8938a925c\"><tr><td></td><td class=\"t m0 x1ce h29 y5b20 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5b20 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5bf h29 y5b21 ff3 fs5 fc3 sc0 ls65 wsc0\">Number<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c0 ha y5b21 ff2 fs5 fc3 sc0 ls21 ws23\">Numbe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5b22 ff3 fs5 fc3 sc0 ls65 wsc0\">million<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 ha y5b22 ff2 fs5 fc3 sc0 ls21 ws23\">million<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a12 w292 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Is<span class=\"_ _0\"></span>sued ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares at be<span class=\"_ _0\"></span>ginning of the yea<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c3 y5a12 w293 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">1,0<span class=\"_ _0\"></span>02<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c4 y5a12 w294 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d ws1f\">1,000<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b23 w295 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of ordinar<span class=\"_ _0\"></span>y share<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c5 y5b23 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x36c y5b23 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w296 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of non-c<span class=\"_ _0\"></span>ontingent<span class=\"_ _0\"></span>ly issua<span class=\"_ _0\"></span>ble shares in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of Group\u2019<span class=\"_ _2\"></span>s lo<span class=\"_ _0\"></span>ng-term inc<span class=\"_ _0\"></span>entive plan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c6 y5b24 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c7 y5b24 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w297 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Own s<span class=\"_ _0\"></span>hares hel<span class=\"_ _0\"></span>d by the employe<span class=\"_ _0\"></span>e benefit tr<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c8 y5b25 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c9 y5b25 w299 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w29a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Weighte<span class=\"_ _0\"></span>d averag<span class=\"_ _0\"></span>e numbe<span class=\"_ _0\"></span>r of ordina<span class=\"_ _0\"></span>ry sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ca y5a16 w29b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5cb y5a16 w1ee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td></tr></table>The dilu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d weighted aver<span class=\"_ _0\"></span>age numb<span class=\"_ _0\"></span>er of ordinar<span class=\"_ _0\"></span>y shares o<span class=\"_ _0\"></span>utst<span class=\"_ _0\"></span>anding durin<span class=\"_ _0\"></span>g the perio<span class=\"_ _0\"></span>d is 1,0<span class=\"_ _0\"></span>05 million (2<span class=\"_ _0\"></span>023: 1,<span class=\"_ _0\"></span>003 million). The G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s Long T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rm Incent<span class=\"_ _0\"></span>ive Plan, Defer<span class=\"_ _0\"></span>red Bonu<span class=\"_ _0\"></span>s Share S<span class=\"_ _0\"></span>cheme an<span class=\"_ _0\"></span>d ShareS<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s increas<span class=\"_ _0\"></span>ed the weig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d average n<span class=\"_ _0\"></span>umber of share<span class=\"_ _0\"></span>s on a diluted ba<span class=\"_ _0\"></span>sis by 4,<span class=\"_ _0\"></span>318<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>65 s<span class=\"_ _0\"></span>hares for the yea<span class=\"_ _0\"></span>r ended 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2024 (2023: 2,<span class=\"_ _0\"></span>259,<span class=\"_ _0\"></span>377 s<span class=\"_ _0\"></span>hares). As los<span class=\"_ _0\"></span>ses have an anti-<span class=\"_ _0\"></span>dilutive effec<span class=\"_ _0\"></span>t, non<span class=\"_ _0\"></span>e of the share<span class=\"_ _0\"></span>-base<span class=\"_ _0\"></span>d awards h<span class=\"_ _0\"></span>ad a dilutive ef<span class=\"_ _0\"></span>fect in the c<span class=\"_ _0\"></span>alculatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>asic earnin<span class=\"_ _0\"></span>gs per sh<span class=\"_ _0\"></span>are for the year en<span class=\"_ _0\"></span>ded 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Earnin<span class=\"_ _0\"></span>gs per s<span class=\"_ _0\"></span>hare disclo<span class=\"_ _0\"></span>sures are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w26d h215\" id=\"_7962050a-da9e-4b80-8242-ac76b1137b47\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5b26 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5b27 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c0 ha y5b27 ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5cc h29 y5b28 ff3 fs5 fc3 sc0 ls9e ws9a\">pence<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 ha y5b28 ff2 fs5 fc3 sc0 ls4d wsbf\">pence<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b29 w29c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Basi<span class=\"_ _0\"></span>c earning<span class=\"_ _0\"></span>s per share<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5cd y5b29 w29d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(111<span class=\"_ _0\"></span>.8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ce y5b29 w29e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per share<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5cf y5b06 w2a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(111.8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d0 y5b06 w29e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a w2a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Basi<span class=\"_ _0\"></span>c adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing cos<span class=\"_ _0\"></span>ts per sh<span class=\"_ _0\"></span>are<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d1 y5b2a w2a2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d2 y5b2a w2a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _0\"></span>.4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w2a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dilute<span class=\"_ _0\"></span>d adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing cos<span class=\"_ _0\"></span>ts per s<span class=\"_ _0\"></span>hare<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d3 y5a16 w2a5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45.<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d4 y5a16 w2a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _0\"></span>.3<span class=\"_ _3bd\"> </span></div></td></tr></table>B4. D<span class=\"_ _0\"></span>ividends on ordina<span class=\"_ _0\"></span>ry sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span>Final di<span class=\"_ _0\"></span>vidends on o<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y shares are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a liabilit<span class=\"_ _0\"></span>y and d<span class=\"_ _0\"></span>educte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are approved by th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s own<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>. Interim<span class=\"_ gs47\"> </span>divi<span class=\"_ _0\"></span>dends are de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are paid. Divid<span class=\"_ _0\"></span>ends for the yea<span class=\"_ _0\"></span>r that are approve<span class=\"_ _0\"></span>d after the re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting perio<span class=\"_ _0\"></span>d are dealt with a<span class=\"_ _0\"></span>s an event afte<span class=\"_ _0\"></span>r the repor<span class=\"_ _0\"></span>ting pe<span class=\"_ _0\"></span>riod. De<span class=\"_ _0\"></span>clared div<span class=\"_ _0\"></span>idends are thos<span class=\"_ _0\"></span>e that are appro<span class=\"_ _0\"></span>priately aut<span class=\"_ _0\"></span>horise<span class=\"_ _0\"></span>d and are no lon<span class=\"_ _0\"></span>ger at the dis<span class=\"_ _0\"></span>cretion of the enti<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span><table class=\"s w26d h216\" id=\"_986a33d4-932f-49ea-b30c-2350b283644e\"><tr><td></td><td class=\"t m0 x1ce h29 y5b2b ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5b2b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5b2c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b2c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w2a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Divid<span class=\"_ _0\"></span>ends dec<span class=\"_ _0\"></span>lared and p<span class=\"_ _0\"></span>aid in the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d5 y5a16 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">533<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d6 y5a16 w2a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table>On 21 M<span class=\"_ _0\"></span>arch 2024, the B<span class=\"_ _0\"></span>oard rec<span class=\"_ _0\"></span>ommend<span class=\"_ _0\"></span>ed a final divid<span class=\"_ _0\"></span>end of 26.<span class=\"_ _0\"></span>65p p<span class=\"_ _0\"></span>er share in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e year ende<span class=\"_ _0\"></span>d 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>023. Th<span class=\"_ _0\"></span>e dividend was app<span class=\"_ _0\"></span>roved at the Group\u2019s Annua<span class=\"_ _0\"></span>l Gener<span class=\"_ _0\"></span>al Meetin<span class=\"_ _0\"></span>g, which w<span class=\"_ _0\"></span>as held on 14 M<span class=\"_ _0\"></span>ay 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>. The dividen<span class=\"_ _0\"></span>d amounte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o \u00a3<span class=\"_ _0\"></span>267 million an<span class=\"_ _0\"></span>d was paid on 22 May 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4. On 11 S<span class=\"_ _0\"></span>eptembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Board d<span class=\"_ _0\"></span>eclare<span class=\"_ _0\"></span>d an interim dividen<span class=\"_ _0\"></span>d of 26.6<span class=\"_ _0\"></span>5p pe<span class=\"_ _0\"></span>r share for the h<span class=\"_ _0\"></span>alf year ende<span class=\"_ _0\"></span>d 30 Jun<span class=\"_ _0\"></span>e 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>. The divide<span class=\"_ _0\"></span>nd amounte<span class=\"_ _0\"></span>d to \u00a326<span class=\"_ _0\"></span>6 million an<span class=\"_ _0\"></span>d was paid on 31 O<span class=\"_ _0\"></span>ctober 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfEarningsPerformance",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-644": {
   "value": "B1. Segm<span class=\"_ _0\"></span>en<span class=\"_ _2\"></span>tal analysis<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up defines an<span class=\"_ _0\"></span>d present<span class=\"_ _0\"></span>s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with IFRS 8 Ope<span class=\"_ _0\"></span>rating S<span class=\"_ _0\"></span>egment<span class=\"_ _0\"></span>s which re<span class=\"_ _0\"></span>quires such s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts to be bas<span class=\"_ _0\"></span>ed on the<span class=\"_ gs47\"> </span>inform<span class=\"_ _0\"></span>ation which is provi<span class=\"_ _0\"></span>ded to the Bo<span class=\"_ _0\"></span>ard, and th<span class=\"_ _0\"></span>erefore segm<span class=\"_ _0\"></span>ental informa<span class=\"_ _0\"></span>tion in this note is pre<span class=\"_ _0\"></span>sented on a dif<span class=\"_ _0\"></span>ferent bas<span class=\"_ _0\"></span>is from profit or los<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s. An ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment is a c<span class=\"_ _0\"></span>omponent of th<span class=\"_ _0\"></span>e Group that en<span class=\"_ _0\"></span>gage<span class=\"_ _0\"></span>s in busines<span class=\"_ _0\"></span>s activ<span class=\"_ _0\"></span>ities from whic<span class=\"_ _0\"></span>h it may earn reven<span class=\"_ _0\"></span>ues and inc<span class=\"_ _0\"></span>ur expens<span class=\"_ _0\"></span>es, inclu<span class=\"_ _0\"></span>ding revenues a<span class=\"_ _0\"></span>nd expen<span class=\"_ _0\"></span>ses relatin<span class=\"_ _0\"></span>g to transa<span class=\"_ _0\"></span>ctions wit<span class=\"_ _0\"></span>h other comp<span class=\"_ _0\"></span>onents of th<span class=\"_ _0\"></span>e Group. For man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt purpos<span class=\"_ _0\"></span>es the Group is organ<span class=\"_ _0\"></span>ised into value c<span class=\"_ _0\"></span>entres and h<span class=\"_ _0\"></span>as five oper<span class=\"_ _0\"></span>ating seg<span class=\"_ _0\"></span>ments c<span class=\"_ _0\"></span>omprising Re<span class=\"_ _0\"></span>tirement So<span class=\"_ _0\"></span>lutions<span class=\"_ _0\"></span>, Pensions &amp; S<span class=\"_ _0\"></span>avings<span class=\"_ _0\"></span>, With-Profit<span class=\"_ _0\"></span>s, S<span class=\"_ _0\"></span>unLife &amp; Protec<span class=\"_ _0\"></span>tion, and Euro<span class=\"_ _0\"></span>pe &amp; Othe<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. For re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting purpos<span class=\"_ _0\"></span>es, o<span class=\"_ _0\"></span>perating s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts are agg<span class=\"_ _0\"></span>regate<span class=\"_ _0\"></span>d where they sh<span class=\"_ _0\"></span>are similar e<span class=\"_ _0\"></span>conomic ch<span class=\"_ _0\"></span>aracte<span class=\"_ _0\"></span>ristic<span class=\"_ _0\"></span>s inclu<span class=\"_ _0\"></span>ding the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s and ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>, t<span class=\"_ _0\"></span>ypes of cus<span class=\"_ _0\"></span>tomers an<span class=\"_ _0\"></span>d the nature of th<span class=\"_ _0\"></span>e regulator<span class=\"_ _0\"></span>y environm<span class=\"_ _0\"></span>ent. The S<span class=\"_ _0\"></span>unLife &amp; Protecti<span class=\"_ _0\"></span>on ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment ha<span class=\"_ _0\"></span>s been ag<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ated with the Europ<span class=\"_ _0\"></span>e operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ent into the Europe &amp; O<span class=\"_ _0\"></span>ther rep<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>ble segm<span class=\"_ _0\"></span>ent. The Ret<span class=\"_ _0\"></span>irement So<span class=\"_ _0\"></span>lutions se<span class=\"_ _0\"></span>gment inc<span class=\"_ _0\"></span>ludes new a<span class=\"_ _0\"></span>nd in-force individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y and Bulk P<span class=\"_ _0\"></span>urchase An<span class=\"_ _0\"></span>nuity c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts writ<span class=\"_ _0\"></span>ten within share<span class=\"_ _0\"></span>holder fund<span class=\"_ _0\"></span>s, with the e<span class=\"_ _0\"></span>xception of individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y contra<span class=\"_ _0\"></span>cts wri<span class=\"_ _0\"></span>tten as a re<span class=\"_ _0\"></span>sult of Guara<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ed Annui<span class=\"_ _0\"></span>ty Optio<span class=\"_ _0\"></span>ns on with-profit c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts. S<span class=\"_ _0\"></span>uch contra<span class=\"_ _0\"></span>cts remain in t<span class=\"_ _0\"></span>he With-Profit<span class=\"_ _0\"></span>s seg<span class=\"_ _0\"></span>ment following th<span class=\"_ _0\"></span>e transitio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>, as they f<span class=\"_ _0\"></span>all within the cont<span class=\"_ _0\"></span>ract bo<span class=\"_ _0\"></span>undar<span class=\"_ _0\"></span>y of the origin<span class=\"_ _0\"></span>al savings or p<span class=\"_ _0\"></span>ension contr<span class=\"_ _0\"></span>act.<span class=\"_ gs47\"> </span>T<span class=\"_ _0\"></span>he Retirement S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s segme<span class=\"_ _0\"></span>nt also incl<span class=\"_ _0\"></span>udes UK in<span class=\"_ _0\"></span>dividual ann<span class=\"_ _0\"></span>uity bu<span class=\"_ _0\"></span>siness wr<span class=\"_ _0\"></span>itten wit<span class=\"_ _0\"></span>hin the Stand<span class=\"_ _0\"></span>ard Life Herita<span class=\"_ _0\"></span>ge With-<span class=\"_ _0\"></span>Profits Fund as the p<span class=\"_ _0\"></span>rofits are prim<span class=\"_ _0\"></span>arily attr<span class=\"_ _0\"></span>ibutable to th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder throu<span class=\"_ _0\"></span>gh the Rec<span class=\"_ _0\"></span>ourse Ca<span class=\"_ _0\"></span>sh Flow mec<span class=\"_ _0\"></span>hanism es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed on dem<span class=\"_ _0\"></span>utualisat<span class=\"_ _0\"></span>ion. The Pens<span class=\"_ _0\"></span>ions &amp; Savin<span class=\"_ _0\"></span>gs segm<span class=\"_ _0\"></span>ent includ<span class=\"_ _0\"></span>es new and in-forc<span class=\"_ _0\"></span>e life insuranc<span class=\"_ _0\"></span>e and investm<span class=\"_ _0\"></span>ent unit-linked policie<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of pensi<span class=\"_ _0\"></span>ons and savin<span class=\"_ _0\"></span>gs produ<span class=\"_ _0\"></span>cts tha<span class=\"_ _0\"></span>t the Group co<span class=\"_ _0\"></span>ntinues to ac<span class=\"_ _0\"></span>tively market to new an<span class=\"_ _0\"></span>d existing p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders<span class=\"_ _0\"></span>.<span class=\"_ gs47\"> </span> This includ<span class=\"_ _0\"></span>es produc<span class=\"_ _0\"></span>ts such a<span class=\"_ _0\"></span>s workplac<span class=\"_ _0\"></span>e pension<span class=\"_ _0\"></span>s and Se<span class=\"_ _0\"></span>lf<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>Invested Per<span class=\"_ _0\"></span>sonal Pens<span class=\"_ _0\"></span>ion (\u2018<span class=\"_ _0\"></span>SIPPs\u2019<span class=\"_ _0\"></span>) distribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d through th<span class=\"_ _0\"></span>e Group\u2019s strateg<span class=\"_ _0\"></span>ic part<span class=\"_ _0\"></span>nership wi<span class=\"_ _0\"></span>th Aberde<span class=\"_ _0\"></span>en Group plc (forme<span class=\"_ _0\"></span>rly abrdn plc) now tradin<span class=\"_ _0\"></span>g as Aberd<span class=\"_ _0\"></span>een.<span class=\"_ gs47\"> </span>In a<span class=\"_ _0\"></span>ddition, i<span class=\"_ _0\"></span>t includes in<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>forc<span class=\"_ _0\"></span>e insuran<span class=\"_ _0\"></span>ce and invest<span class=\"_ _0\"></span>ment unit-linked produ<span class=\"_ _0\"></span>cts from le<span class=\"_ _0\"></span>gac<span class=\"_ _0\"></span>y busines<span class=\"_ _0\"></span>ses whic<span class=\"_ _0\"></span>h no longe<span class=\"_ _0\"></span>r ac<span class=\"_ _0\"></span>tively sell pro<span class=\"_ _0\"></span>duct<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and w<span class=\"_ _0\"></span>hich therefore r<span class=\"_ _0\"></span>un-off gr<span class=\"_ _0\"></span>adually over tim<span class=\"_ _0\"></span>e. The Pension<span class=\"_ _0\"></span>s &amp; Savings s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt also inclu<span class=\"_ _0\"></span>des UK uniti<span class=\"_ _0\"></span>sed busin<span class=\"_ _0\"></span>ess writ<span class=\"_ _0\"></span>ten in<span class=\"_ gs47\"> </span>the St<span class=\"_ _0\"></span>andard Life He<span class=\"_ _0\"></span>ritage W<span class=\"_ _0\"></span>ith-Profits f<span class=\"_ _0\"></span>unds<span class=\"_ _0\"></span>, as profits are pr<span class=\"_ _0\"></span>imarily at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to the share<span class=\"_ _0\"></span>holder thro<span class=\"_ _0\"></span>ugh the Re<span class=\"_ _0\"></span>course Cas<span class=\"_ _0\"></span>h Flow mech<span class=\"_ _0\"></span>anism.<span class=\"_ _3bd\"> </span>The Wi<span class=\"_ _0\"></span>th-Profits s<span class=\"_ _0\"></span>egment in<span class=\"_ _0\"></span>cludes a<span class=\"_ _0\"></span>ll policies wri<span class=\"_ _0\"></span>tten by the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds, with th<span class=\"_ _0\"></span>e exception of Sta<span class=\"_ _0\"></span>ndard Life Heri<span class=\"_ _0\"></span>tage Wit<span class=\"_ _0\"></span>h-Profits Fund contr<span class=\"_ _0\"></span>acts refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in other seg<span class=\"_ _0\"></span>ments a<span class=\"_ _0\"></span>s noted above for Retire<span class=\"_ _0\"></span>ment Sol<span class=\"_ _0\"></span>utions and Pen<span class=\"_ _0\"></span>sions &amp; Savin<span class=\"_ _0\"></span>gs where profit<span class=\"_ _0\"></span>s are primar<span class=\"_ _0\"></span>ily at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the shareh<span class=\"_ _0\"></span>older thro<span class=\"_ _0\"></span>ugh the Rec<span class=\"_ _0\"></span>ourse C<span class=\"_ _0\"></span>ash Flow me<span class=\"_ _0\"></span>chanism<span class=\"_ _0\"></span>. The Europ<span class=\"_ _0\"></span>e &amp; Other s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt includes b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s writte<span class=\"_ _0\"></span>n in Ireland an<span class=\"_ _0\"></span>d Germany. This inc<span class=\"_ _0\"></span>ludes prod<span class=\"_ _0\"></span>ucts th<span class=\"_ _0\"></span>at are activel<span class=\"_ _0\"></span>y being ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>ete<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o n<span class=\"_ _0\"></span>ew polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s and leg<span class=\"_ _0\"></span>acy in-force p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s that are no lon<span class=\"_ _0\"></span>ger be<span class=\"_ _0\"></span>ing sold to new c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs.<span class=\"_ gs47\"> </span> Th<span class=\"_ _0\"></span>e segm<span class=\"_ _0\"></span>ent also inc<span class=\"_ _0\"></span>ludes protec<span class=\"_ _0\"></span>tion produ<span class=\"_ _0\"></span>cts an<span class=\"_ _0\"></span>d produ<span class=\"_ _0\"></span>cts so<span class=\"_ _0\"></span>ld under the S<span class=\"_ _0\"></span>unLife bran<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>orporate C<span class=\"_ _0\"></span>entre seg<span class=\"_ _0\"></span>ment, whi<span class=\"_ _0\"></span>ch is not a repor<span class=\"_ _0\"></span>tab<span class=\"_ _0\"></span>le segm<span class=\"_ _0\"></span>ent, princ<span class=\"_ _0\"></span>ipally comp<span class=\"_ _0\"></span>rises ce<span class=\"_ _0\"></span>ntral hea<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>fice co<span class=\"_ _0\"></span>sts tha<span class=\"_ _0\"></span>t are not direct<span class=\"_ _0\"></span>ly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the Group\u2019s insuran<span class=\"_ _0\"></span>ce or investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>ts.<span class=\"_ gs47\"> </span>M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s are alloc<span class=\"_ _0\"></span>ated to the four rep<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>able seg<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Inter-s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt transa<span class=\"_ _0\"></span>ctions are s<span class=\"_ _0\"></span>et on an arm\u2019s length b<span class=\"_ _0\"></span>asis in a manne<span class=\"_ _0\"></span>r similar to tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns with third par<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>. Seg<span class=\"_ _0\"></span>mental re<span class=\"_ _0\"></span>sults incl<span class=\"_ _0\"></span>ude those tran<span class=\"_ _0\"></span>sfers bet<span class=\"_ _0\"></span>ween b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s segm<span class=\"_ _0\"></span>ents which a<span class=\"_ _0\"></span>re then elimina<span class=\"_ _0\"></span>ted on cons<span class=\"_ _0\"></span>olidation<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Segmental measu<span class=\"_ _2\"></span>re of perfo<span class=\"_ _2\"></span>rmance: Adjusted<span class=\"_ _2\"></span> operating pr<span class=\"_ _2\"></span>ofit<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up uses a no<span class=\"_ _0\"></span>n-GAA<span class=\"_ _0\"></span>P measure of pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce, be<span class=\"_ _0\"></span>ing adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit<span class=\"_ _0\"></span>, to evaluate se<span class=\"_ _0\"></span>gmenta<span class=\"_ _0\"></span>l perfor<span class=\"_ _0\"></span>mance. A<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to provide a comp<span class=\"_ _0\"></span>arable me<span class=\"_ _0\"></span>asure of the unde<span class=\"_ _0\"></span>rlying pe<span class=\"_ _0\"></span>rforman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>act of<span class=\"_ gs47\"> </span>sho<span class=\"_ _0\"></span>rt-term ec<span class=\"_ _0\"></span>onomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other item<span class=\"_ _0\"></span>s. The follow<span class=\"_ _0\"></span>ing sets o<span class=\"_ _0\"></span>ut the adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating profi<span class=\"_ _0\"></span>t methodo<span class=\"_ _0\"></span>logy<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>For unit-linked bus<span class=\"_ _0\"></span>iness ac<span class=\"_ _0\"></span>counted for un<span class=\"_ _0\"></span>der IFRS 9<span class=\"_ _0\"></span>, adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the fe<span class=\"_ _0\"></span>es colle<span class=\"_ _0\"></span>cted from c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs less o<span class=\"_ _0\"></span>perating expe<span class=\"_ _0\"></span>nses inc<span class=\"_ _0\"></span>luding overhe<span class=\"_ _0\"></span>ads. For unit-linked and wi<span class=\"_ _0\"></span>th-profits b<span class=\"_ _0\"></span>usiness a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for under IFR<span class=\"_ _0\"></span>S 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit inclu<span class=\"_ _0\"></span>des the rele<span class=\"_ _0\"></span>ase of the risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment, amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion of CSM<span class=\"_ _0\"></span>, and dem<span class=\"_ _0\"></span>ographi<span class=\"_ _0\"></span>c experien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es in the pe<span class=\"_ _0\"></span>riod.<span class=\"_ _3bd\"> </span>For share<span class=\"_ _0\"></span>holder a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, other n<span class=\"_ _0\"></span>on-profit busin<span class=\"_ _0\"></span>ess an<span class=\"_ _0\"></span>d with-profits f<span class=\"_ _0\"></span>unds rec<span class=\"_ _0\"></span>eiving share<span class=\"_ _0\"></span>holder s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t acco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the re<span class=\"_ _0\"></span>lease of the r<span class=\"_ _0\"></span>isk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>, amor<span class=\"_ _0\"></span>tisation of CS<span class=\"_ _0\"></span>M, an<span class=\"_ _0\"></span>d demog<span class=\"_ _0\"></span>raphic exp<span class=\"_ _0\"></span>erience v<span class=\"_ _0\"></span>ariance<span class=\"_ _0\"></span>s in the perio<span class=\"_ _0\"></span>d. Adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit als<span class=\"_ _0\"></span>o incorp<span class=\"_ _0\"></span>orates an exp<span class=\"_ _0\"></span>ected re<span class=\"_ _0\"></span>turn on the fina<span class=\"_ _0\"></span>ncial invest<span class=\"_ _0\"></span>ments ba<span class=\"_ _0\"></span>cking this bu<span class=\"_ _0\"></span>siness a<span class=\"_ _0\"></span>nd any surplus a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, with allow<span class=\"_ _0\"></span>ance for the c<span class=\"_ _0\"></span>orrespon<span class=\"_ _0\"></span>ding moveme<span class=\"_ _0\"></span>nt i<span class=\"_ _2\"></span>n li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the ab<span class=\"_ _0\"></span>ove items for non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss writ<span class=\"_ _0\"></span>ten in a with-profit<span class=\"_ _0\"></span>s fund whe<span class=\"_ _0\"></span>re these am<span class=\"_ _0\"></span>ounts do not a<span class=\"_ _0\"></span>ccrue direc<span class=\"_ _0\"></span>tly to the share<span class=\"_ _0\"></span>holder. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit in<span class=\"_ _0\"></span>cludes th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f ex<span class=\"_ _0\"></span>perien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es relating to th<span class=\"_ _0\"></span>e current pe<span class=\"_ _0\"></span>riod for non-<span class=\"_ _0\"></span>econo<span class=\"_ _0\"></span>mic items<span class=\"_ _0\"></span>, such as mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty and exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s. It als<span class=\"_ _0\"></span>o incorpor<span class=\"_ _0\"></span>ates the impa<span class=\"_ _0\"></span>cts of as<span class=\"_ _0\"></span>set tradin<span class=\"_ _0\"></span>g and por<span class=\"_ _0\"></span>tfolio re<span class=\"_ _0\"></span>balanc<span class=\"_ _0\"></span>ing where not refl<span class=\"_ _0\"></span>ected in t<span class=\"_ _0\"></span>he discount r<span class=\"_ _0\"></span>ate used in cal<span class=\"_ _0\"></span>culating exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d return.<span class=\"_ _3bd\"> </span>Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit is re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted net of polic<span class=\"_ _0\"></span>yholder fin<span class=\"_ _0\"></span>ance ch<span class=\"_ _0\"></span>arges and p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder tax<span class=\"_ _0\"></span>. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>acts of th<span class=\"_ _0\"></span>e following items<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>Economic var<span class=\"_ _2\"></span>iances \u2022 <span class=\"_ _19\"> </span>the dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>en act<span class=\"_ _0\"></span>ual and exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d experien<span class=\"_ _0\"></span>ce for eco<span class=\"_ _0\"></span>nomic items re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt, impac<span class=\"_ _0\"></span>ts of<span class=\"_ gs47\"> </span>eco<span class=\"_ _0\"></span>nomic as<span class=\"_ _0\"></span>sumptions on th<span class=\"_ _0\"></span>e valuation of liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured under t<span class=\"_ _0\"></span>he Gener<span class=\"_ _0\"></span>al Mode<span class=\"_ _0\"></span>l and the ch<span class=\"_ _0\"></span>ange in value of lo<span class=\"_ _0\"></span>ss comp<span class=\"_ _0\"></span>onents on<span class=\"_ gs47\"> </span>V<span class=\"_ _2\"></span>ari<span class=\"_ _0\"></span>able Fee Appro<span class=\"_ _0\"></span>ach busin<span class=\"_ _0\"></span>ess res<span class=\"_ _0\"></span>ulting from market movem<span class=\"_ _0\"></span>ents on und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ec<span class=\"_ _0\"></span>onomic vola<span class=\"_ _0\"></span>tility ari<span class=\"_ _0\"></span>sing from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s he<span class=\"_ _0\"></span>dging str<span class=\"_ _0\"></span>ategy whi<span class=\"_ _0\"></span>ch is calibra<span class=\"_ _0\"></span>ted to protect th<span class=\"_ _0\"></span>e Solven<span class=\"_ _0\"></span>cy II ca<span class=\"_ _0\"></span>pital posi<span class=\"_ _0\"></span>tion and ca<span class=\"_ _0\"></span>sh gen<span class=\"_ _0\"></span>eration c<span class=\"_ _0\"></span>apabilit<span class=\"_ _0\"></span>y of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ws1\">th<span class=\"_ _0\"></span>e acco<span class=\"_ _0\"></span>unting mismatc<span class=\"_ _0\"></span>h resulting from th<span class=\"_ _0\"></span>e applica<span class=\"_ _0\"></span>tion of IFRS 17 bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement of non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss in a with-profit<span class=\"_ _0\"></span>s fund (noted<span class=\"_ _0\"></span> </span>above) and th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in fair value of this bu<span class=\"_ _0\"></span>siness in<span class=\"_ _0\"></span>cluded w<span class=\"_ _0\"></span>ithin the mea<span class=\"_ _0\"></span>surement of the w<span class=\"_ _0\"></span>ith-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s under th<span class=\"_ _0\"></span>e V<span class=\"_ _4\"></span>ari<span class=\"_ _0\"></span>able Fee App<span class=\"_ _0\"></span>roach;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g mismatch re<span class=\"_ _0\"></span>sulting from bu<span class=\"_ _0\"></span>y-in contra<span class=\"_ _0\"></span>cts bet<span class=\"_ _0\"></span>wee<span class=\"_ _0\"></span>n the Group\u2019s pension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s and Phoe<span class=\"_ _0\"></span>nix Life Limited, th<span class=\"_ _0\"></span>e Group\u2019s main insur<span class=\"_ _0\"></span>ance subs<span class=\"_ _0\"></span>idiary. The mis<span class=\"_ _0\"></span>match repre<span class=\"_ _0\"></span>sents the d<span class=\"_ _0\"></span>ifferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>ween the unwin<span class=\"_ _0\"></span>d of the IAS 19 dis<span class=\"_ _0\"></span>count rate c<span class=\"_ _0\"></span>alculated w<span class=\"_ _0\"></span>ith reference to a A<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>-ra<span class=\"_ _0\"></span>ted corpo<span class=\"_ _0\"></span>rate bond an<span class=\"_ _0\"></span>d the expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s on the back<span class=\"_ _0\"></span>ing ass<span class=\"_ _0\"></span>ets; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of th<span class=\"_ _0\"></span>e mismatch b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n chang<span class=\"_ _0\"></span>es in estim<span class=\"_ _0\"></span>ates of future c<span class=\"_ _0\"></span>ash flows on G<span class=\"_ _0\"></span>eneral M<span class=\"_ _0\"></span>odel co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d at current dis<span class=\"_ _0\"></span>count rates and th<span class=\"_ _0\"></span>e corresp<span class=\"_ _0\"></span>onding ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt to the CSM m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at the disco<span class=\"_ _0\"></span>unt rate locked-in at in<span class=\"_ _0\"></span>ception<span class=\"_ _0\"></span>. Other<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and impa<span class=\"_ _0\"></span>irment of A<span class=\"_ _2\"></span>VIF an<span class=\"_ _0\"></span>d brand inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets (net of po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er tax)<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>fina<span class=\"_ _0\"></span>nce cos<span class=\"_ _0\"></span>ts at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to owners;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ga<span class=\"_ _0\"></span>ins or loss<span class=\"_ _0\"></span>es on the ac<span class=\"_ _0\"></span>quisition or dis<span class=\"_ _0\"></span>posal of sub<span class=\"_ _0\"></span>sidiaries (net of rel<span class=\"_ _0\"></span>ated cos<span class=\"_ _0\"></span>ts);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the fin<span class=\"_ _0\"></span>ancial imp<span class=\"_ _0\"></span>acts of m<span class=\"_ _0\"></span>andator<span class=\"_ _0\"></span>y regulato<span class=\"_ _0\"></span>ry ch<span class=\"_ _0\"></span>ange;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>rofit or loss at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>integ<span class=\"_ _0\"></span>ration, re<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>turing or othe<span class=\"_ _0\"></span>r significa<span class=\"_ _0\"></span>nt one-of<span class=\"_ _0\"></span>f proje<span class=\"_ _0\"></span>cts imp<span class=\"_ _0\"></span>acting th<span class=\"_ _0\"></span>e income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>any othe<span class=\"_ _0\"></span>r items which<span class=\"_ _0\"></span>, in the Direc<span class=\"_ _0\"></span>tor\u2019s view, should be di<span class=\"_ _0\"></span>sclose<span class=\"_ _0\"></span>d separ<span class=\"_ _0\"></span>ately by virt<span class=\"_ _0\"></span>ue of their nat<span class=\"_ _0\"></span>ure or inciden<span class=\"_ _0\"></span>ce to enable a f<span class=\"_ _0\"></span>ull under<span class=\"_ _0\"></span>stan<span class=\"_ _0\"></span>ding of the Group\u2019s financ<span class=\"_ _0\"></span>ial per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. This is t<span class=\"_ _0\"></span>ypically th<span class=\"_ _0\"></span>e case wh<span class=\"_ _0\"></span>ere the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e item is not refle<span class=\"_ _0\"></span>ctive of the unde<span class=\"_ _0\"></span>rlying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies. The ite<span class=\"_ _0\"></span>ms exclude<span class=\"_ _0\"></span>d from adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit are refer<span class=\"_ _0\"></span>red to as \u2018non-op<span class=\"_ _0\"></span>erating ite<span class=\"_ _0\"></span>ms\u2019<span class=\"_ _4\"></span>. Whil<span class=\"_ _0\"></span>st the exclu<span class=\"_ _0\"></span>ded items are im<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ant to an ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of the con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance of the Gro<span class=\"_ _0\"></span>up, manag<span class=\"_ _0\"></span>ement co<span class=\"_ _0\"></span>nsider<span class=\"_ _0\"></span>s that the pres<span class=\"_ _0\"></span>entation of ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit provides a g<span class=\"_ _0\"></span>ood indic<span class=\"_ _0\"></span>ator of the underl<span class=\"_ _0\"></span>ying per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e of the Group\u2019s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents and th<span class=\"_ _0\"></span>e Group use<span class=\"_ _0\"></span>s this, as p<span class=\"_ _0\"></span>art of a suite of me<span class=\"_ _0\"></span>asures<span class=\"_ _0\"></span>, for decis<span class=\"_ _0\"></span>ion-<span class=\"_ _3bd\"> </span>makin<span class=\"_ _0\"></span>g and monitor<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. The Group\u2019s adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit s<span class=\"_ _0\"></span>hould be re<span class=\"_ _0\"></span>ad in conj<span class=\"_ _0\"></span>unction wi<span class=\"_ _0\"></span>th the IFRS profi<span class=\"_ _0\"></span>t before tax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>B1.1<span class=\"_ _2\"></span> Segmental resul<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span>Notes<span class=\"_ _3bd\"> </span><table class=\"s w23c h20b\" id=\"_dd7f2a6a-7f6b-4683-be10-47fbbe94660a\"><tr><td></td><td></td><td></td><td class=\"t m0 x1cd ha y5aee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x1ce h29 y5aef ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5af1 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x1d2 h29 y5af2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5af2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5af3 ff3 fs6 fc3 sc0 ls1a ws1b\">Adjus<span class=\"_ _0\"></span>ted operatin<span class=\"_ _0\"></span>g<span class=\"_ _2\"></span> pr<span class=\"_ _0\"></span>ofit<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5af4 w23d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x51f y5af4 w23e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">474<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x520 y5af4 w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">378<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af5 w23f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x521 y5af5 w240 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">316<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x522 y5af5 w241 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af6 w242 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x523 y5af6 w243 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x524 y5af6 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af7 w244 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x525 y5af7 w245 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls81 ws14c\">96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x526 y5af7 wfe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af8 w246 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Corp<span class=\"_ _0\"></span>orate Ce<span class=\"_ _0\"></span>ntre<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x527 y5af8 w127 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(10<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x528 y5af8 w247 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(93<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af9 w248 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal segmen<span class=\"_ _2\"></span>tal adjusted opera<span class=\"_ _2\"></span>ting pro<span class=\"_ _2\"></span>fit<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x529 y5af9 w249 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">825<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52a y5af9 w24a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">6<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w24b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic variances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52b y5a68 w24c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">B2.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52c y5a68 w24d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52d y5a68 w24e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a69 w71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on and impairm<span class=\"_ _0\"></span>ent of acquire<span class=\"_ _0\"></span>d in-f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rce busine<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x52e y5a69 w17e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(26<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x52f y5a69 w74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a6a w24f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of brand intan<span class=\"_ _0\"></span>gibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x530 y5a6a w76 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">G2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x531 y5a6a w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x532 y5a6a w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a6b w252 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other non-operat<span class=\"_ _2\"></span>ing items<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x533 y5a6b w253 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x534 y5a6b w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(439<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a27 w254 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>ce cos<span class=\"_ _0\"></span>ts on borrow<span class=\"_ _0\"></span>ing attr<span class=\"_ _0\"></span>ibutable to own<span class=\"_ _0\"></span>ers<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x535 y5a27 w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x536 y5a27 w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(19<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w255 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit befor<span class=\"_ _0\"></span>e the tax a<span class=\"_ _0\"></span>ttrib<span class=\"_ _0\"></span>utable to o<span class=\"_ _0\"></span>wners of th<span class=\"_ _0\"></span>e parent<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x537 y5afa w175 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>46<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x538 y5afa w5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a29 w256 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Profit before t<span class=\"_ _0\"></span>ax att<span class=\"_ _0\"></span>ributable to n<span class=\"_ _0\"></span>on-contro<span class=\"_ _0\"></span>lling interest<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x539 y5a29 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x53a y5a29 w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w8b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit befor<span class=\"_ _0\"></span>e the tax a<span class=\"_ _0\"></span>ttrib<span class=\"_ _0\"></span>utable to o<span class=\"_ _0\"></span>wners<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x20e y5a16 w8c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f y5a16 w8d h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span> Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>Oth<span class=\"_ _0\"></span>er non-o<span class=\"_ _0\"></span>perating i<span class=\"_ _0\"></span>tems in respe<span class=\"_ _0\"></span>ct of the year e<span class=\"_ _0\"></span>nded 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 include:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>\u00a32<span class=\"_ _0\"></span>08 million los<span class=\"_ _0\"></span>s reflec<span class=\"_ _0\"></span>ting the net l<span class=\"_ _0\"></span>oss from the d<span class=\"_ _0\"></span>ereco<span class=\"_ _0\"></span>gnition of the IAS 1<span class=\"_ _0\"></span>9 defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation and re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right<span class=\"_ _0\"></span>s and the rec<span class=\"_ _0\"></span>ognition of an ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>nd ass<span class=\"_ _0\"></span>ociated rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts following th<span class=\"_ _0\"></span>e completi<span class=\"_ _0\"></span>on of the PGL Pens<span class=\"_ _0\"></span>ion Sche<span class=\"_ _0\"></span>me buy-<span class=\"_ _0\"></span>out tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n. A gain of \u00a31<span class=\"_ _0\"></span>08 million a<span class=\"_ _0\"></span>rose on the rem<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of the BEL an<span class=\"_ _0\"></span>d risk adju<span class=\"_ _0\"></span>stment us<span class=\"_ _0\"></span>ing the disc<span class=\"_ _0\"></span>ount rate implicit in t<span class=\"_ _0\"></span>he buy-o<span class=\"_ _0\"></span>ut tran<span class=\"_ _0\"></span>sfer amount at in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition an<span class=\"_ _0\"></span>d the Group\u2019s discount r<span class=\"_ _0\"></span>ate applied for th<span class=\"_ _0\"></span>e subseq<span class=\"_ _0\"></span>uent mea<span class=\"_ _0\"></span>surement of ann<span class=\"_ _0\"></span>uity ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s immediate<span class=\"_ _0\"></span>ly after ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition. T<span class=\"_ _0\"></span>he resulting n<span class=\"_ _0\"></span>et loss of \u00a31<span class=\"_ _0\"></span>06 milli<span class=\"_ _0\"></span>on also incl<span class=\"_ _0\"></span>udes pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me wind up co<span class=\"_ _0\"></span>sts of \u00a36 million in<span class=\"_ _0\"></span>curred in the p<span class=\"_ _0\"></span>eriod to date. N<span class=\"_ _0\"></span>ote G1 provides m<span class=\"_ _0\"></span>ore detail on the d<span class=\"_ _0\"></span>ereco<span class=\"_ _0\"></span>gnition of the IAS 1<span class=\"_ _0\"></span>9 balan<span class=\"_ _0\"></span>ces;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>\u00a31<span class=\"_ _0\"></span>34 million of cos<span class=\"_ _0\"></span>ts as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the delive<span class=\"_ _0\"></span>ry of the G<span class=\"_ _0\"></span>roup T<span class=\"_ _4\"></span>arg<span class=\"_ _0\"></span>et Oper<span class=\"_ _0\"></span>ating Mode<span class=\"_ _0\"></span>l for IT and Op<span class=\"_ _0\"></span>erations<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding the migr<span class=\"_ _0\"></span>ation of polic<span class=\"_ _0\"></span>yholder a<span class=\"_ _0\"></span>dministr<span class=\"_ _0\"></span>ation onto the T<span class=\"_ _2\"></span>ata C<span class=\"_ _0\"></span>onsultan<span class=\"_ _0\"></span>cy Se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s (\u2018TCS<span class=\"_ _0\"></span>\u2019) p<span class=\"_ _0\"></span>latform<span class=\"_ _0\"></span>. Under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted cos<span class=\"_ _0\"></span>ts in resp<span class=\"_ _0\"></span>ect of this ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y that are direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts have be<span class=\"_ _0\"></span>en include<span class=\"_ _0\"></span>d within insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities; \u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a39<span class=\"_ _0\"></span>3 million ass<span class=\"_ _0\"></span>ociated wit<span class=\"_ _0\"></span>h finance tr<span class=\"_ _0\"></span>ansformat<span class=\"_ _0\"></span>ion activi<span class=\"_ _0\"></span>ties, in<span class=\"_ _0\"></span>cluding the m<span class=\"_ _0\"></span>igration to clo<span class=\"_ _0\"></span>ud-bas<span class=\"_ _0\"></span>ed sys<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms and enh<span class=\"_ _0\"></span>ancem<span class=\"_ _0\"></span>ents to ac<span class=\"_ _0\"></span>tuarial mo<span class=\"_ _0\"></span>delling and re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting capa<span class=\"_ _0\"></span>bilities and th<span class=\"_ _0\"></span>e related co<span class=\"_ _0\"></span>ntrol environme<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>\u00a38<span class=\"_ _0\"></span>0 million of cos<span class=\"_ _0\"></span>ts ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th strate<span class=\"_ _0\"></span>gic growt<span class=\"_ _0\"></span>h initiatives<span class=\"_ _0\"></span>, including d<span class=\"_ _0\"></span>evelopment of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s I<span class=\"_ _0\"></span>nternal Mo<span class=\"_ _0\"></span>del, invest<span class=\"_ _0\"></span>ment in digita<span class=\"_ _0\"></span>l and direc<span class=\"_ _0\"></span>t asset s<span class=\"_ _0\"></span>ourcing c<span class=\"_ _0\"></span>apabilities<span class=\"_ _0\"></span>, and tr<span class=\"_ _0\"></span>ansformat<span class=\"_ _0\"></span>ion of the Group\u2019s operatin<span class=\"_ _0\"></span>g model to s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t efficie<span class=\"_ _0\"></span>nt growth; \u2022 <span class=\"_ _19\"> </span>\u00a343 million of co<span class=\"_ _0\"></span>sts as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with deliver<span class=\"_ _0\"></span>y of the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s 3-ye<span class=\"_ _0\"></span>ar cost s<span class=\"_ _0\"></span>aving progr<span class=\"_ _0\"></span>amme; \u2022 <span class=\"_ _19\"> </span>\u00a32<span class=\"_ _0\"></span>2 million of cost<span class=\"_ _0\"></span>s ass<span class=\"_ _0\"></span>ociated wit<span class=\"_ _0\"></span>h ongoing inte<span class=\"_ _0\"></span>gration pro<span class=\"_ _0\"></span>gramme<span class=\"_ _0\"></span>s; \u2022 <span class=\"_ _19\"> </span>C<span class=\"_ _0\"></span>orporate pro<span class=\"_ _0\"></span>ject c<span class=\"_ _0\"></span>osts a<span class=\"_ _0\"></span>nd net other o<span class=\"_ _0\"></span>ne-of<span class=\"_ _0\"></span>f items totalling a c<span class=\"_ _0\"></span>ost of \u00a342 million. Oth<span class=\"_ _0\"></span>er non-o<span class=\"_ _0\"></span>perating i<span class=\"_ _0\"></span>tems in respe<span class=\"_ _0\"></span>ct of the year e<span class=\"_ _0\"></span>nded 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2023 inc<span class=\"_ _0\"></span>lude:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a ga<span class=\"_ _0\"></span>in on acquisit<span class=\"_ _0\"></span>ion of \u00a366 millio<span class=\"_ _0\"></span>n reflectin<span class=\"_ _0\"></span>g the exces<span class=\"_ _0\"></span>s of the fair value of th<span class=\"_ _0\"></span>e net ass<span class=\"_ _0\"></span>ets acq<span class=\"_ _0\"></span>uired over the con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n paid for the ac<span class=\"_ _0\"></span>quisition of Phoe<span class=\"_ _0\"></span>nix Life CA Holding<span class=\"_ _0\"></span>s Limited (Forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a UK Limited) (se<span class=\"_ _0\"></span>e note H2 for fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>\u00a31<span class=\"_ _0\"></span>69 m<span class=\"_ _0\"></span>illion of cost<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with s<span class=\"_ _0\"></span>trategic g<span class=\"_ _0\"></span>rowth initi<span class=\"_ _0\"></span>atives, in<span class=\"_ _0\"></span>cluding inves<span class=\"_ _0\"></span>tment in digit<span class=\"_ _0\"></span>al and direc<span class=\"_ _0\"></span>t asset s<span class=\"_ _0\"></span>ourcing c<span class=\"_ _0\"></span>apabilities<span class=\"_ _0\"></span>, es<span class=\"_ _0\"></span>tablishm<span class=\"_ _0\"></span>ent of the Group\u2019s Bermu<span class=\"_ _0\"></span>dan reinsura<span class=\"_ _0\"></span>nce ope<span class=\"_ _0\"></span>rations an<span class=\"_ _0\"></span>d transform<span class=\"_ _0\"></span>ation of the Group\u2019s oper<span class=\"_ _0\"></span>ating mod<span class=\"_ _0\"></span>el to suppor<span class=\"_ _0\"></span>t effic<span class=\"_ _0\"></span>ient grow<span class=\"_ _0\"></span>th;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>\u00a379 millio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>osts a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated with the d<span class=\"_ _0\"></span>eliver<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group T<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>rget Ope<span class=\"_ _0\"></span>rating Mo<span class=\"_ _0\"></span>del for IT and O<span class=\"_ _0\"></span>peratio<span class=\"_ _0\"></span>ns, inc<span class=\"_ _0\"></span>luding the mig<span class=\"_ _0\"></span>ration of polic<span class=\"_ _0\"></span>yholder a<span class=\"_ _0\"></span>dministr<span class=\"_ _0\"></span>ation onto the T<span class=\"_ _2\"></span>ata C<span class=\"_ _0\"></span>onsultan<span class=\"_ _0\"></span>cy Se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s (\u2018TCS<span class=\"_ _0\"></span>\u2019) p<span class=\"_ _0\"></span>latform<span class=\"_ _0\"></span>. Under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted cos<span class=\"_ _0\"></span>ts in resp<span class=\"_ _0\"></span>ect of this ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y that are direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts have be<span class=\"_ _0\"></span>en include<span class=\"_ _0\"></span>d within insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities; \u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a36<span class=\"_ _0\"></span>5 million ass<span class=\"_ _0\"></span>ociated w<span class=\"_ _0\"></span>ith the implem<span class=\"_ _0\"></span>entation of I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a352 million as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with financ<span class=\"_ _0\"></span>e transfo<span class=\"_ _0\"></span>rmation ac<span class=\"_ _0\"></span>tivities<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g the migratio<span class=\"_ _0\"></span>n to cloud-b<span class=\"_ _0\"></span>ased sy<span class=\"_ _0\"></span>stems an<span class=\"_ _0\"></span>d enhanc<span class=\"_ _0\"></span>ements to ac<span class=\"_ _0\"></span>tuarial mo<span class=\"_ _0\"></span>delling c<span class=\"_ _0\"></span>apabilities an<span class=\"_ _0\"></span>d the relate<span class=\"_ _0\"></span>d control environm<span class=\"_ _0\"></span>ent;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>sts of \u00a349 million as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n by Part VII t<span class=\"_ _0\"></span>ransfer of four of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Life C<span class=\"_ _0\"></span>ompanies into a sin<span class=\"_ _0\"></span>gle entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, c<span class=\"_ _0\"></span>ompleted in<span class=\"_ gs47\"> </span>the se<span class=\"_ _0\"></span>cond h<span class=\"_ _0\"></span>alf of 2023;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a \u00a33<span class=\"_ _0\"></span>6 million adve<span class=\"_ _0\"></span>rse impa<span class=\"_ _0\"></span>ct from the s<span class=\"_ _0\"></span>trength<span class=\"_ _0\"></span>ening of act<span class=\"_ _0\"></span>uarial res<span class=\"_ _0\"></span>erves a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated with the Pa<span class=\"_ _0\"></span>rt VII tr<span class=\"_ _0\"></span>ansfer of ce<span class=\"_ _0\"></span>rtain Euro<span class=\"_ _0\"></span>pean bus<span class=\"_ _0\"></span>iness from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s UK Life C<span class=\"_ _0\"></span>ompanies to a n<span class=\"_ _0\"></span>ewly est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d European s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>\u00a332 m<span class=\"_ _0\"></span>illion of cost<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with on<span class=\"_ _0\"></span>going inte<span class=\"_ _0\"></span>gration pro<span class=\"_ _0\"></span>gramme<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>\u00a31<span class=\"_ _0\"></span>2 million of past s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s in relation to a Gro<span class=\"_ _0\"></span>up pension s<span class=\"_ _0\"></span>cheme (s<span class=\"_ _0\"></span>ee note G1 for fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>C<span class=\"_ _0\"></span>orporate pro<span class=\"_ _0\"></span>ject c<span class=\"_ _0\"></span>osts a<span class=\"_ _0\"></span>nd net other o<span class=\"_ _0\"></span>ne-of<span class=\"_ _0\"></span>f items totalling a c<span class=\"_ _0\"></span>ost of \u00a311 milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment ret<span class=\"_ _0\"></span>urn varianc<span class=\"_ _0\"></span>es and ec<span class=\"_ _0\"></span>onomic as<span class=\"_ _0\"></span>sumption ch<span class=\"_ _0\"></span>anges o<span class=\"_ _0\"></span>n long-term b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, and th<span class=\"_ _0\"></span>e variance o<span class=\"_ _0\"></span>n owners\u2019 fun<span class=\"_ _0\"></span>ds are inclu<span class=\"_ _0\"></span>ded in note B2.<span class=\"_ _3bd\"> </span>B1.2 Seg<span class=\"_ _0\"></span>men<span class=\"_ _2\"></span>tal revenue<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w257 h20e\" id=\"_6447b041-8d68-4f6a-bfcc-dd622e28bdc5\"><tr><td></td><td class=\"t m0 x53b h29 y5afb ff3 fs5 fc3 sc0 lsbe wsbe\">Retirement </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y5afc ff3 fs5 fc3 sc0 ls8d ws86\">Solutions </td><td class=\"t m0 x53d h29 y5afc ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs </td><td class=\"t m0 x53e h29 y5afc ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f h29 y5afc ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther </td><td class=\"t m0 x540 h29 y5afc ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x541 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5afd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5afe ff2 fs6 fc3 sc0 ls13 ws14\">Revenue from e<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>ternal customers:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5aff w3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance r<span class=\"_ _2\"></span>evenue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x544 y5aff w258 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>918<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x545 y5aff w259 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x546 y5aff waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">378<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x547 y5aff w25a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">569<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x548 y5aff w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">5,1<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a8f w4e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Fees and commissions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x549 y5a8f w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54a y5a8f w25b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">886<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54b y5a8f w25c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54c y5a8f w25d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54d y5a8f w25e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _1\"></span>,0<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w25f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal segmen<span class=\"_ _2\"></span>tal rev<span class=\"_ _2\"></span>enue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54e y5a16 w258 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>918<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54f y5a16 w260 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,16<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x550 y5a16 w24e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x551 y5a16 w261 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1dd ws1f7\">659<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x552 y5a16 w262 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">6<span class=\"_ _0\"></span>,166<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w263 h20f\" id=\"_7b958b0f-39dd-42f8-b87c-38732833c493\"><tr><td></td><td class=\"t m0 x553 ha y5b00 ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x554 ha y5b01 ff2 fs5 fc3 sc0 ls11 ws11\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x555 ha y5b01 ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; S<span class=\"_ _0\"></span>aving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x556 ha y5b01 ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x557 ha y5b01 ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5b01 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5b02 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x558 ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x559 ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55a ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55c ha y5b02 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5b03 ff2 fs6 fc3 sc0 ls13 ws14\">Revenue from e<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>ternal customers:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5aca w3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance r<span class=\"_ _2\"></span>evenue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x55d y5aca w264 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x55e y5aca w265 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x55f y5aca w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x560 y5aca w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">571<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x561 y5aca w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4,<span class=\"_ _0\"></span>861<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5acb w4e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Fees and commissions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x562 y5acb wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x563 y5acb w266 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x564 y5acb w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x565 y5acb w8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x566 y5acb w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">967<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w25f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal segmen<span class=\"_ _2\"></span>tal rev<span class=\"_ _2\"></span>enue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x567 y5a16 w269 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3,7<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x568 y5a16 w26a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x569 y5a16 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56a y5a16 w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">6<span class=\"_ _0\"></span>58<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56b y5a16 w26c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,828<span class=\"_ _3bd\"> </span></div></td></tr></table>Of th<span class=\"_ _0\"></span>e revenue from ex<span class=\"_ _0\"></span>ternal c<span class=\"_ _0\"></span>ustomer<span class=\"_ _0\"></span>s presente<span class=\"_ _0\"></span>d in the tabl<span class=\"_ _0\"></span>e above, \u00a35,<span class=\"_ _0\"></span>89<span class=\"_ _0\"></span>5 million (2023<span class=\"_ _0\"></span>: \u00a35,<span class=\"_ _0\"></span>583 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>) i<span class=\"_ _0\"></span>s attribu<span class=\"_ _0\"></span>table to cus<span class=\"_ _0\"></span>tomers in t<span class=\"_ _0\"></span>he Unite<span class=\"_ _0\"></span>d Kingdom (<span class=\"_ _0\"></span>\u2018UK<span class=\"_ _0\"></span>\u2019) an<span class=\"_ _0\"></span>d \u00a3271 million (20<span class=\"_ _0\"></span>23: \u00a3245 million) to the re<span class=\"_ _0\"></span>st of the world. N<span class=\"_ _0\"></span>o revenue tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ion with a single c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r extern<span class=\"_ _0\"></span>al to the Group am<span class=\"_ _0\"></span>ounts to gre<span class=\"_ _0\"></span>ater than 1<span class=\"_ _0\"></span>0% of the Group\u2019s revenue. The Gro<span class=\"_ _0\"></span>up has total n<span class=\"_ _0\"></span>on-current a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>othe<span class=\"_ _0\"></span>r than finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>, deferred ta<span class=\"_ _0\"></span>x asse<span class=\"_ _0\"></span>ts, p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes an<span class=\"_ _0\"></span>d rights ari<span class=\"_ _0\"></span>sing under in<span class=\"_ _0\"></span>surance contr<span class=\"_ _0\"></span>acts) of<span class=\"_ gs47\"> </span>\u00a34,<span class=\"_ _0\"></span>325 million (2023<span class=\"_ _0\"></span>: \u00a33,<span class=\"_ _0\"></span>622 million) lo<span class=\"_ _0\"></span>cated in th<span class=\"_ _0\"></span>e UK and \u00a3274 million (2023: \u00a3<span class=\"_ _0\"></span>29<span class=\"_ _0\"></span>9 million) locate<span class=\"_ _0\"></span>d in the rest of th<span class=\"_ _0\"></span>e world.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-661": {
   "value": "The Gro<span class=\"_ _0\"></span>up defines an<span class=\"_ _0\"></span>d present<span class=\"_ _0\"></span>s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with IFRS 8 Ope<span class=\"_ _0\"></span>rating S<span class=\"_ _0\"></span>egment<span class=\"_ _0\"></span>s which re<span class=\"_ _0\"></span>quires such s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts to be bas<span class=\"_ _0\"></span>ed on the<span class=\"_ gs47\"> </span>inform<span class=\"_ _0\"></span>ation which is provi<span class=\"_ _0\"></span>ded to the Bo<span class=\"_ _0\"></span>ard, and th<span class=\"_ _0\"></span>erefore segm<span class=\"_ _0\"></span>ental informa<span class=\"_ _0\"></span>tion in this note is pre<span class=\"_ _0\"></span>sented on a dif<span class=\"_ _0\"></span>ferent bas<span class=\"_ _0\"></span>is from profit or los<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s. An ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment is a c<span class=\"_ _0\"></span>omponent of th<span class=\"_ _0\"></span>e Group that en<span class=\"_ _0\"></span>gage<span class=\"_ _0\"></span>s in busines<span class=\"_ _0\"></span>s activ<span class=\"_ _0\"></span>ities from whic<span class=\"_ _0\"></span>h it may earn reven<span class=\"_ _0\"></span>ues and inc<span class=\"_ _0\"></span>ur expens<span class=\"_ _0\"></span>es, inclu<span class=\"_ _0\"></span>ding revenues a<span class=\"_ _0\"></span>nd expen<span class=\"_ _0\"></span>ses relatin<span class=\"_ _0\"></span>g to transa<span class=\"_ _0\"></span>ctions wit<span class=\"_ _0\"></span>h other comp<span class=\"_ _0\"></span>onents of th<span class=\"_ _0\"></span>e Group. For man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt purpos<span class=\"_ _0\"></span>es the Group is organ<span class=\"_ _0\"></span>ised into value c<span class=\"_ _0\"></span>entres and h<span class=\"_ _0\"></span>as five oper<span class=\"_ _0\"></span>ating seg<span class=\"_ _0\"></span>ments c<span class=\"_ _0\"></span>omprising Re<span class=\"_ _0\"></span>tirement So<span class=\"_ _0\"></span>lutions<span class=\"_ _0\"></span>, Pensions &amp; S<span class=\"_ _0\"></span>avings<span class=\"_ _0\"></span>, With-Profit<span class=\"_ _0\"></span>s, S<span class=\"_ _0\"></span>unLife &amp; Protec<span class=\"_ _0\"></span>tion, and Euro<span class=\"_ _0\"></span>pe &amp; Othe<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. For re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting purpos<span class=\"_ _0\"></span>es, o<span class=\"_ _0\"></span>perating s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts are agg<span class=\"_ _0\"></span>regate<span class=\"_ _0\"></span>d where they sh<span class=\"_ _0\"></span>are similar e<span class=\"_ _0\"></span>conomic ch<span class=\"_ _0\"></span>aracte<span class=\"_ _0\"></span>ristic<span class=\"_ _0\"></span>s inclu<span class=\"_ _0\"></span>ding the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s and ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>, t<span class=\"_ _0\"></span>ypes of cus<span class=\"_ _0\"></span>tomers an<span class=\"_ _0\"></span>d the nature of th<span class=\"_ _0\"></span>e regulator<span class=\"_ _0\"></span>y environm<span class=\"_ _0\"></span>ent. The S<span class=\"_ _0\"></span>unLife &amp; Protecti<span class=\"_ _0\"></span>on ope<span class=\"_ _0\"></span>rating se<span class=\"_ _0\"></span>gment ha<span class=\"_ _0\"></span>s been ag<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ated with the Europ<span class=\"_ _0\"></span>e operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ent into the Europe &amp; O<span class=\"_ _0\"></span>ther rep<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>ble segm<span class=\"_ _0\"></span>ent. The Ret<span class=\"_ _0\"></span>irement So<span class=\"_ _0\"></span>lutions se<span class=\"_ _0\"></span>gment inc<span class=\"_ _0\"></span>ludes new a<span class=\"_ _0\"></span>nd in-force individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y and Bulk P<span class=\"_ _0\"></span>urchase An<span class=\"_ _0\"></span>nuity c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts writ<span class=\"_ _0\"></span>ten within share<span class=\"_ _0\"></span>holder fund<span class=\"_ _0\"></span>s, with the e<span class=\"_ _0\"></span>xception of individ<span class=\"_ _0\"></span>ual annuit<span class=\"_ _0\"></span>y contra<span class=\"_ _0\"></span>cts wri<span class=\"_ _0\"></span>tten as a re<span class=\"_ _0\"></span>sult of Guara<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ed Annui<span class=\"_ _0\"></span>ty Optio<span class=\"_ _0\"></span>ns on with-profit c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts. S<span class=\"_ _0\"></span>uch contra<span class=\"_ _0\"></span>cts remain in t<span class=\"_ _0\"></span>he With-Profit<span class=\"_ _0\"></span>s seg<span class=\"_ _0\"></span>ment following th<span class=\"_ _0\"></span>e transitio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>, as they f<span class=\"_ _0\"></span>all within the cont<span class=\"_ _0\"></span>ract bo<span class=\"_ _0\"></span>undar<span class=\"_ _0\"></span>y of the origin<span class=\"_ _0\"></span>al savings or p<span class=\"_ _0\"></span>ension contr<span class=\"_ _0\"></span>act.<span class=\"_ gs47\"> </span>T<span class=\"_ _0\"></span>he Retirement S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s segme<span class=\"_ _0\"></span>nt also incl<span class=\"_ _0\"></span>udes UK in<span class=\"_ _0\"></span>dividual ann<span class=\"_ _0\"></span>uity bu<span class=\"_ _0\"></span>siness wr<span class=\"_ _0\"></span>itten wit<span class=\"_ _0\"></span>hin the Stand<span class=\"_ _0\"></span>ard Life Herita<span class=\"_ _0\"></span>ge With-<span class=\"_ _0\"></span>Profits Fund as the p<span class=\"_ _0\"></span>rofits are prim<span class=\"_ _0\"></span>arily attr<span class=\"_ _0\"></span>ibutable to th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder throu<span class=\"_ _0\"></span>gh the Rec<span class=\"_ _0\"></span>ourse Ca<span class=\"_ _0\"></span>sh Flow mec<span class=\"_ _0\"></span>hanism es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed on dem<span class=\"_ _0\"></span>utualisat<span class=\"_ _0\"></span>ion. The Pens<span class=\"_ _0\"></span>ions &amp; Savin<span class=\"_ _0\"></span>gs segm<span class=\"_ _0\"></span>ent includ<span class=\"_ _0\"></span>es new and in-forc<span class=\"_ _0\"></span>e life insuranc<span class=\"_ _0\"></span>e and investm<span class=\"_ _0\"></span>ent unit-linked policie<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of pensi<span class=\"_ _0\"></span>ons and savin<span class=\"_ _0\"></span>gs produ<span class=\"_ _0\"></span>cts tha<span class=\"_ _0\"></span>t the Group co<span class=\"_ _0\"></span>ntinues to ac<span class=\"_ _0\"></span>tively market to new an<span class=\"_ _0\"></span>d existing p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders<span class=\"_ _0\"></span>.<span class=\"_ gs47\"> </span> This includ<span class=\"_ _0\"></span>es produc<span class=\"_ _0\"></span>ts such a<span class=\"_ _0\"></span>s workplac<span class=\"_ _0\"></span>e pension<span class=\"_ _0\"></span>s and Se<span class=\"_ _0\"></span>lf<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>Invested Per<span class=\"_ _0\"></span>sonal Pens<span class=\"_ _0\"></span>ion (\u2018<span class=\"_ _0\"></span>SIPPs\u2019<span class=\"_ _0\"></span>) distribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d through th<span class=\"_ _0\"></span>e Group\u2019s strateg<span class=\"_ _0\"></span>ic part<span class=\"_ _0\"></span>nership wi<span class=\"_ _0\"></span>th Aberde<span class=\"_ _0\"></span>en Group plc (forme<span class=\"_ _0\"></span>rly abrdn plc) now tradin<span class=\"_ _0\"></span>g as Aberd<span class=\"_ _0\"></span>een.<span class=\"_ gs47\"> </span>In a<span class=\"_ _0\"></span>ddition, i<span class=\"_ _0\"></span>t includes in<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>forc<span class=\"_ _0\"></span>e insuran<span class=\"_ _0\"></span>ce and invest<span class=\"_ _0\"></span>ment unit-linked produ<span class=\"_ _0\"></span>cts from le<span class=\"_ _0\"></span>gac<span class=\"_ _0\"></span>y busines<span class=\"_ _0\"></span>ses whic<span class=\"_ _0\"></span>h no longe<span class=\"_ _0\"></span>r ac<span class=\"_ _0\"></span>tively sell pro<span class=\"_ _0\"></span>duct<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and w<span class=\"_ _0\"></span>hich therefore r<span class=\"_ _0\"></span>un-off gr<span class=\"_ _0\"></span>adually over tim<span class=\"_ _0\"></span>e. The Pension<span class=\"_ _0\"></span>s &amp; Savings s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt also inclu<span class=\"_ _0\"></span>des UK uniti<span class=\"_ _0\"></span>sed busin<span class=\"_ _0\"></span>ess writ<span class=\"_ _0\"></span>ten in<span class=\"_ gs47\"> </span>the St<span class=\"_ _0\"></span>andard Life He<span class=\"_ _0\"></span>ritage W<span class=\"_ _0\"></span>ith-Profits f<span class=\"_ _0\"></span>unds<span class=\"_ _0\"></span>, as profits are pr<span class=\"_ _0\"></span>imarily at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to the share<span class=\"_ _0\"></span>holder thro<span class=\"_ _0\"></span>ugh the Re<span class=\"_ _0\"></span>course Cas<span class=\"_ _0\"></span>h Flow mech<span class=\"_ _0\"></span>anism.<span class=\"_ _3bd\"> </span>The Wi<span class=\"_ _0\"></span>th-Profits s<span class=\"_ _0\"></span>egment in<span class=\"_ _0\"></span>cludes a<span class=\"_ _0\"></span>ll policies wri<span class=\"_ _0\"></span>tten by the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds, with th<span class=\"_ _0\"></span>e exception of Sta<span class=\"_ _0\"></span>ndard Life Heri<span class=\"_ _0\"></span>tage Wit<span class=\"_ _0\"></span>h-Profits Fund contr<span class=\"_ _0\"></span>acts refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in other seg<span class=\"_ _0\"></span>ments a<span class=\"_ _0\"></span>s noted above for Retire<span class=\"_ _0\"></span>ment Sol<span class=\"_ _0\"></span>utions and Pen<span class=\"_ _0\"></span>sions &amp; Savin<span class=\"_ _0\"></span>gs where profit<span class=\"_ _0\"></span>s are primar<span class=\"_ _0\"></span>ily at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the shareh<span class=\"_ _0\"></span>older thro<span class=\"_ _0\"></span>ugh the Rec<span class=\"_ _0\"></span>ourse C<span class=\"_ _0\"></span>ash Flow me<span class=\"_ _0\"></span>chanism<span class=\"_ _0\"></span>. The Europ<span class=\"_ _0\"></span>e &amp; Other s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt includes b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s writte<span class=\"_ _0\"></span>n in Ireland an<span class=\"_ _0\"></span>d Germany. This inc<span class=\"_ _0\"></span>ludes prod<span class=\"_ _0\"></span>ucts th<span class=\"_ _0\"></span>at are activel<span class=\"_ _0\"></span>y being ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>ete<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o n<span class=\"_ _0\"></span>ew polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s and leg<span class=\"_ _0\"></span>acy in-force p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s that are no lon<span class=\"_ _0\"></span>ger be<span class=\"_ _0\"></span>ing sold to new c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs.<span class=\"_ gs47\"> </span> Th<span class=\"_ _0\"></span>e segm<span class=\"_ _0\"></span>ent also inc<span class=\"_ _0\"></span>ludes protec<span class=\"_ _0\"></span>tion produ<span class=\"_ _0\"></span>cts an<span class=\"_ _0\"></span>d produ<span class=\"_ _0\"></span>cts so<span class=\"_ _0\"></span>ld under the S<span class=\"_ _0\"></span>unLife bran<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>orporate C<span class=\"_ _0\"></span>entre seg<span class=\"_ _0\"></span>ment, whi<span class=\"_ _0\"></span>ch is not a repor<span class=\"_ _0\"></span>tab<span class=\"_ _0\"></span>le segm<span class=\"_ _0\"></span>ent, princ<span class=\"_ _0\"></span>ipally comp<span class=\"_ _0\"></span>rises ce<span class=\"_ _0\"></span>ntral hea<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>fice co<span class=\"_ _0\"></span>sts tha<span class=\"_ _0\"></span>t are not direct<span class=\"_ _0\"></span>ly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to the Group\u2019s insuran<span class=\"_ _0\"></span>ce or investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>ts.<span class=\"_ gs47\"> </span>M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s are alloc<span class=\"_ _0\"></span>ated to the four rep<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>able seg<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Inter-s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt transa<span class=\"_ _0\"></span>ctions are s<span class=\"_ _0\"></span>et on an arm\u2019s length b<span class=\"_ _0\"></span>asis in a manne<span class=\"_ _0\"></span>r similar to tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns with third par<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>. Seg<span class=\"_ _0\"></span>mental re<span class=\"_ _0\"></span>sults incl<span class=\"_ _0\"></span>ude those tran<span class=\"_ _0\"></span>sfers bet<span class=\"_ _0\"></span>ween b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s segm<span class=\"_ _0\"></span>ents which a<span class=\"_ _0\"></span>re then elimina<span class=\"_ _0\"></span>ted on cons<span class=\"_ _0\"></span>olidation<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Segmental measu<span class=\"_ _2\"></span>re of perfo<span class=\"_ _2\"></span>rmance: Adjusted<span class=\"_ _2\"></span> operating pr<span class=\"_ _2\"></span>ofit<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up uses a no<span class=\"_ _0\"></span>n-GAA<span class=\"_ _0\"></span>P measure of pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce, be<span class=\"_ _0\"></span>ing adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit<span class=\"_ _0\"></span>, to evaluate se<span class=\"_ _0\"></span>gmenta<span class=\"_ _0\"></span>l perfor<span class=\"_ _0\"></span>mance. A<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to provide a comp<span class=\"_ _0\"></span>arable me<span class=\"_ _0\"></span>asure of the unde<span class=\"_ _0\"></span>rlying pe<span class=\"_ _0\"></span>rforman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>act of<span class=\"_ gs47\"> </span>sho<span class=\"_ _0\"></span>rt-term ec<span class=\"_ _0\"></span>onomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other item<span class=\"_ _0\"></span>s. The follow<span class=\"_ _0\"></span>ing sets o<span class=\"_ _0\"></span>ut the adj<span class=\"_ _0\"></span>usted op<span class=\"_ _0\"></span>erating profi<span class=\"_ _0\"></span>t methodo<span class=\"_ _0\"></span>logy<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>For unit-linked bus<span class=\"_ _0\"></span>iness ac<span class=\"_ _0\"></span>counted for un<span class=\"_ _0\"></span>der IFRS 9<span class=\"_ _0\"></span>, adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the fe<span class=\"_ _0\"></span>es colle<span class=\"_ _0\"></span>cted from c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs less o<span class=\"_ _0\"></span>perating expe<span class=\"_ _0\"></span>nses inc<span class=\"_ _0\"></span>luding overhe<span class=\"_ _0\"></span>ads. For unit-linked and wi<span class=\"_ _0\"></span>th-profits b<span class=\"_ _0\"></span>usiness a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for under IFR<span class=\"_ _0\"></span>S 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit inclu<span class=\"_ _0\"></span>des the rele<span class=\"_ _0\"></span>ase of the risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment, amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion of CSM<span class=\"_ _0\"></span>, and dem<span class=\"_ _0\"></span>ographi<span class=\"_ _0\"></span>c experien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es in the pe<span class=\"_ _0\"></span>riod.<span class=\"_ _3bd\"> </span>For share<span class=\"_ _0\"></span>holder a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, other n<span class=\"_ _0\"></span>on-profit busin<span class=\"_ _0\"></span>ess an<span class=\"_ _0\"></span>d with-profits f<span class=\"_ _0\"></span>unds rec<span class=\"_ _0\"></span>eiving share<span class=\"_ _0\"></span>holder s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t acco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for under I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d ope<span class=\"_ _0\"></span>rating profit inc<span class=\"_ _0\"></span>ludes the re<span class=\"_ _0\"></span>lease of the r<span class=\"_ _0\"></span>isk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>, amor<span class=\"_ _0\"></span>tisation of CS<span class=\"_ _0\"></span>M, an<span class=\"_ _0\"></span>d demog<span class=\"_ _0\"></span>raphic exp<span class=\"_ _0\"></span>erience v<span class=\"_ _0\"></span>ariance<span class=\"_ _0\"></span>s in the perio<span class=\"_ _0\"></span>d. Adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit als<span class=\"_ _0\"></span>o incorp<span class=\"_ _0\"></span>orates an exp<span class=\"_ _0\"></span>ected re<span class=\"_ _0\"></span>turn on the fina<span class=\"_ _0\"></span>ncial invest<span class=\"_ _0\"></span>ments ba<span class=\"_ _0\"></span>cking this bu<span class=\"_ _0\"></span>siness a<span class=\"_ _0\"></span>nd any surplus a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, with allow<span class=\"_ _0\"></span>ance for the c<span class=\"_ _0\"></span>orrespon<span class=\"_ _0\"></span>ding moveme<span class=\"_ _0\"></span>nt i<span class=\"_ _2\"></span>n li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the ab<span class=\"_ _0\"></span>ove items for non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss writ<span class=\"_ _0\"></span>ten in a with-profit<span class=\"_ _0\"></span>s fund whe<span class=\"_ _0\"></span>re these am<span class=\"_ _0\"></span>ounts do not a<span class=\"_ _0\"></span>ccrue direc<span class=\"_ _0\"></span>tly to the share<span class=\"_ _0\"></span>holder. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit in<span class=\"_ _0\"></span>cludes th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f ex<span class=\"_ _0\"></span>perien<span class=\"_ _0\"></span>ce varianc<span class=\"_ _0\"></span>es relating to th<span class=\"_ _0\"></span>e current pe<span class=\"_ _0\"></span>riod for non-<span class=\"_ _0\"></span>econo<span class=\"_ _0\"></span>mic items<span class=\"_ _0\"></span>, such as mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty and exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s. It als<span class=\"_ _0\"></span>o incorpor<span class=\"_ _0\"></span>ates the impa<span class=\"_ _0\"></span>cts of as<span class=\"_ _0\"></span>set tradin<span class=\"_ _0\"></span>g and por<span class=\"_ _0\"></span>tfolio re<span class=\"_ _0\"></span>balanc<span class=\"_ _0\"></span>ing where not refl<span class=\"_ _0\"></span>ected in t<span class=\"_ _0\"></span>he discount r<span class=\"_ _0\"></span>ate used in cal<span class=\"_ _0\"></span>culating exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d return.<span class=\"_ _3bd\"> </span>Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit is re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted net of polic<span class=\"_ _0\"></span>yholder fin<span class=\"_ _0\"></span>ance ch<span class=\"_ _0\"></span>arges and p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder tax<span class=\"_ _0\"></span>. Adju<span class=\"_ _0\"></span>sted ope<span class=\"_ _0\"></span>rating profit exc<span class=\"_ _0\"></span>ludes the imp<span class=\"_ _0\"></span>acts of th<span class=\"_ _0\"></span>e following items<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>Economic var<span class=\"_ _2\"></span>iances \u2022 <span class=\"_ _19\"> </span>the dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>en act<span class=\"_ _0\"></span>ual and exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d experien<span class=\"_ _0\"></span>ce for eco<span class=\"_ _0\"></span>nomic items re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt, impac<span class=\"_ _0\"></span>ts of<span class=\"_ gs47\"> </span>eco<span class=\"_ _0\"></span>nomic as<span class=\"_ _0\"></span>sumptions on th<span class=\"_ _0\"></span>e valuation of liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured under t<span class=\"_ _0\"></span>he Gener<span class=\"_ _0\"></span>al Mode<span class=\"_ _0\"></span>l and the ch<span class=\"_ _0\"></span>ange in value of lo<span class=\"_ _0\"></span>ss comp<span class=\"_ _0\"></span>onents on<span class=\"_ gs47\"> </span>V<span class=\"_ _2\"></span>ari<span class=\"_ _0\"></span>able Fee Appro<span class=\"_ _0\"></span>ach busin<span class=\"_ _0\"></span>ess res<span class=\"_ _0\"></span>ulting from market movem<span class=\"_ _0\"></span>ents on und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ec<span class=\"_ _0\"></span>onomic vola<span class=\"_ _0\"></span>tility ari<span class=\"_ _0\"></span>sing from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s he<span class=\"_ _0\"></span>dging str<span class=\"_ _0\"></span>ategy whi<span class=\"_ _0\"></span>ch is calibra<span class=\"_ _0\"></span>ted to protect th<span class=\"_ _0\"></span>e Solven<span class=\"_ _0\"></span>cy II ca<span class=\"_ _0\"></span>pital posi<span class=\"_ _0\"></span>tion and ca<span class=\"_ _0\"></span>sh gen<span class=\"_ _0\"></span>eration c<span class=\"_ _0\"></span>apabilit<span class=\"_ _0\"></span>y of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ws1\">th<span class=\"_ _0\"></span>e acco<span class=\"_ _0\"></span>unting mismatc<span class=\"_ _0\"></span>h resulting from th<span class=\"_ _0\"></span>e applica<span class=\"_ _0\"></span>tion of IFRS 17 bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement of non-p<span class=\"_ _0\"></span>rofit busine<span class=\"_ _0\"></span>ss in a with-profit<span class=\"_ _0\"></span>s fund (noted<span class=\"_ _0\"></span> </span>above) and th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in fair value of this bu<span class=\"_ _0\"></span>siness in<span class=\"_ _0\"></span>cluded w<span class=\"_ _0\"></span>ithin the mea<span class=\"_ _0\"></span>surement of the w<span class=\"_ _0\"></span>ith-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s under th<span class=\"_ _0\"></span>e V<span class=\"_ _4\"></span>ari<span class=\"_ _0\"></span>able Fee App<span class=\"_ _0\"></span>roach;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g mismatch re<span class=\"_ _0\"></span>sulting from bu<span class=\"_ _0\"></span>y-in contra<span class=\"_ _0\"></span>cts bet<span class=\"_ _0\"></span>wee<span class=\"_ _0\"></span>n the Group\u2019s pension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s and Phoe<span class=\"_ _0\"></span>nix Life Limited, th<span class=\"_ _0\"></span>e Group\u2019s main insur<span class=\"_ _0\"></span>ance subs<span class=\"_ _0\"></span>idiary. The mis<span class=\"_ _0\"></span>match repre<span class=\"_ _0\"></span>sents the d<span class=\"_ _0\"></span>ifferenc<span class=\"_ _0\"></span>e bet<span class=\"_ _0\"></span>ween the unwin<span class=\"_ _0\"></span>d of the IAS 19 dis<span class=\"_ _0\"></span>count rate c<span class=\"_ _0\"></span>alculated w<span class=\"_ _0\"></span>ith reference to a A<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>-ra<span class=\"_ _0\"></span>ted corpo<span class=\"_ _0\"></span>rate bond an<span class=\"_ _0\"></span>d the expe<span class=\"_ _0\"></span>cted inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s on the back<span class=\"_ _0\"></span>ing ass<span class=\"_ _0\"></span>ets; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of th<span class=\"_ _0\"></span>e mismatch b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n chang<span class=\"_ _0\"></span>es in estim<span class=\"_ _0\"></span>ates of future c<span class=\"_ _0\"></span>ash flows on G<span class=\"_ _0\"></span>eneral M<span class=\"_ _0\"></span>odel co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d at current dis<span class=\"_ _0\"></span>count rates and th<span class=\"_ _0\"></span>e corresp<span class=\"_ _0\"></span>onding ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt to the CSM m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at the disco<span class=\"_ _0\"></span>unt rate locked-in at in<span class=\"_ _0\"></span>ception<span class=\"_ _0\"></span>. Other<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and impa<span class=\"_ _0\"></span>irment of A<span class=\"_ _2\"></span>VIF an<span class=\"_ _0\"></span>d brand inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets (net of po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er tax)<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>fina<span class=\"_ _0\"></span>nce cos<span class=\"_ _0\"></span>ts at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e to owners;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ga<span class=\"_ _0\"></span>ins or loss<span class=\"_ _0\"></span>es on the ac<span class=\"_ _0\"></span>quisition or dis<span class=\"_ _0\"></span>posal of sub<span class=\"_ _0\"></span>sidiaries (net of rel<span class=\"_ _0\"></span>ated cos<span class=\"_ _0\"></span>ts);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the fin<span class=\"_ _0\"></span>ancial imp<span class=\"_ _0\"></span>acts of m<span class=\"_ _0\"></span>andator<span class=\"_ _0\"></span>y regulato<span class=\"_ _0\"></span>ry ch<span class=\"_ _0\"></span>ange;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>rofit or loss at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>integ<span class=\"_ _0\"></span>ration, re<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>turing or othe<span class=\"_ _0\"></span>r significa<span class=\"_ _0\"></span>nt one-of<span class=\"_ _0\"></span>f proje<span class=\"_ _0\"></span>cts imp<span class=\"_ _0\"></span>acting th<span class=\"_ _0\"></span>e income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>any othe<span class=\"_ _0\"></span>r items which<span class=\"_ _0\"></span>, in the Direc<span class=\"_ _0\"></span>tor\u2019s view, should be di<span class=\"_ _0\"></span>sclose<span class=\"_ _0\"></span>d separ<span class=\"_ _0\"></span>ately by virt<span class=\"_ _0\"></span>ue of their nat<span class=\"_ _0\"></span>ure or inciden<span class=\"_ _0\"></span>ce to enable a f<span class=\"_ _0\"></span>ull under<span class=\"_ _0\"></span>stan<span class=\"_ _0\"></span>ding of the Group\u2019s financ<span class=\"_ _0\"></span>ial per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. This is t<span class=\"_ _0\"></span>ypically th<span class=\"_ _0\"></span>e case wh<span class=\"_ _0\"></span>ere the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e item is not refle<span class=\"_ _0\"></span>ctive of the unde<span class=\"_ _0\"></span>rlying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the oper<span class=\"_ _0\"></span>ating comp<span class=\"_ _0\"></span>anies. The ite<span class=\"_ _0\"></span>ms exclude<span class=\"_ _0\"></span>d from adjus<span class=\"_ _0\"></span>ted ope<span class=\"_ _0\"></span>rating profit are refer<span class=\"_ _0\"></span>red to as \u2018non-op<span class=\"_ _0\"></span>erating ite<span class=\"_ _0\"></span>ms\u2019<span class=\"_ _4\"></span>. Whil<span class=\"_ _0\"></span>st the exclu<span class=\"_ _0\"></span>ded items are im<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ant to an ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of the con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance of the Gro<span class=\"_ _0\"></span>up, manag<span class=\"_ _0\"></span>ement co<span class=\"_ _0\"></span>nsider<span class=\"_ _0\"></span>s that the pres<span class=\"_ _0\"></span>entation of ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit provides a g<span class=\"_ _0\"></span>ood indic<span class=\"_ _0\"></span>ator of the underl<span class=\"_ _0\"></span>ying per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e of the Group\u2019s operatin<span class=\"_ _0\"></span>g segm<span class=\"_ _0\"></span>ents and th<span class=\"_ _0\"></span>e Group use<span class=\"_ _0\"></span>s this, as p<span class=\"_ _0\"></span>art of a suite of me<span class=\"_ _0\"></span>asures<span class=\"_ _0\"></span>, for decis<span class=\"_ _0\"></span>ion-<span class=\"_ _3bd\"> </span>makin<span class=\"_ _0\"></span>g and monitor<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e. The Group\u2019s adju<span class=\"_ _0\"></span>sted op<span class=\"_ _0\"></span>erating profit s<span class=\"_ _0\"></span>hould be re<span class=\"_ _0\"></span>ad in conj<span class=\"_ _0\"></span>unction wi<span class=\"_ _0\"></span>th the IFRS profi<span class=\"_ _0\"></span>t before tax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-619": {
   "value": "B2. Investment return variances and economic assumption changes The long-term nature of much of the Group\u2019s operations means that, for internal performance management, the effects of short-term economic volatility are treated as non-operating items. The Group focuses instead on an adjusted operating profit measure that incorporates an expected return on investments supporting its long-term business. The accounting policy adopted in the calculation of adjusted operating profit is detailed in note B1. The methodology for the determination of the expected investment return is explained below together with an analysis of investment return variances and economic assumption changes recognised outside of adjusted operating profit. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfInvestmentReturnVariancesAndEconomicAssumptionChanges",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-620": {
   "value": "B2.1 Calculation of the long-term investment return Adjusted operating profit for life assurance business is based on expected investment returns on financial investments backing shareholder, annuity, other non-profit business, with-profits funds receiving shareholder support and surplus assets, with allowance for the corresponding movements in liabilities. The methodology to determine the expected investment returns on financial investments uses the 1-year risk-free rate for deriving the expected investment return assumption on assets backing the insurance contract liabilities to reduce unintended economic volatility as set out in note B1. The long-term risk-free rate used as the basis for deriving the long-term investment return is consistent with that set out in note F11.2.1 at the 1-year duration for assets backing the insurance contract liabilities and surplus cash assets, and at the 15-year duration for surplus non-cash assets. A risk premium of 400 bps is added to the risk-free yield for equities (2023: 380 bps), 50 bps for properties (2023: 50 bps) and 170 bps for debt securities (2023: 130 bps). The principal assumptions underlying the calculation of the long-term investment return for surplus assets are:  2024 2023 % % Equities 7.4 7.4 Properties 3.9 4.1 Debt securities 5.1 4.9 B2.2 Life assurance business The economic variances excluded from the long-term business operating profit are as follows: 2023 2024 restated1 \u00a3m \u00a3m Economic variances (1,297) 377 1   See note A3 for further details of the prior year restatements. The net adverse economic variances of \u00a31,297 million (2023: \u00a3377 million favourable (restated)) have primarily arisen as a result of higher yields and a rise in global equity markets. Movements in yields and equity markets are hedged to protect our Solvency II surplus from volatility, but our IFRS balance sheet is, in effect, \u2018over-hedged\u2019 as it does not recognise the additional Solvency II balance sheet items such as future profits on investment contracts measured under IFRS 9 and the Solvency Capital Requirements. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfCalculationOfTheLongTermInvestmentReturn",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-621": {
   "value": "B3<span class=\"_ _0\"></span>. Earnings per s<span class=\"_ _0\"></span>hare<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up calcul<span class=\"_ _0\"></span>ates its ba<span class=\"_ _0\"></span>sic earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re based o<span class=\"_ _0\"></span>n the prese<span class=\"_ _0\"></span>nt shares in is<span class=\"_ _0\"></span>sue using th<span class=\"_ _0\"></span>e earning<span class=\"_ _0\"></span>s attrib<span class=\"_ _0\"></span>utable to ordin<span class=\"_ _0\"></span>ary e<span class=\"_ _0\"></span>quity h<span class=\"_ _0\"></span>olders of the pare<span class=\"_ _0\"></span>nt, divide<span class=\"_ _0\"></span>d by the weighted aver<span class=\"_ _0\"></span>age numb<span class=\"_ _0\"></span>er of ordinar<span class=\"_ _0\"></span>y shares in i<span class=\"_ _0\"></span>ssue durin<span class=\"_ _0\"></span>g the year<span class=\"_ _2\"></span>. Dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per share a<span class=\"_ _0\"></span>re calcula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d base<span class=\"_ _0\"></span>d on the potenti<span class=\"_ _0\"></span>al future sha<span class=\"_ _0\"></span>res in issue a<span class=\"_ _0\"></span>ssumin<span class=\"_ _0\"></span>g the conversi<span class=\"_ _0\"></span>on of all potentially dilu<span class=\"_ _0\"></span>tive ordinar<span class=\"_ _0\"></span>y share<span class=\"_ _0\"></span>s. The we<span class=\"_ _0\"></span>ighted averag<span class=\"_ _0\"></span>e number of ordin<span class=\"_ _0\"></span>ary s<span class=\"_ _0\"></span>hares in iss<span class=\"_ _0\"></span>ue is adju<span class=\"_ _0\"></span>sted to as<span class=\"_ _0\"></span>sume conver<span class=\"_ _0\"></span>sion of dilutive sha<span class=\"_ _0\"></span>re awards grante<span class=\"_ _0\"></span>d to employee<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The b<span class=\"_ _0\"></span>asic and dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re calculati<span class=\"_ _0\"></span>ons are also p<span class=\"_ _0\"></span>resented b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e Group\u2019s adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing cos<span class=\"_ _0\"></span>ts. Ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is a non-<span class=\"_ _0\"></span>GAAP pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce mea<span class=\"_ _0\"></span>sure that is con<span class=\"_ _0\"></span>sidered to p<span class=\"_ _0\"></span>rovide a compa<span class=\"_ _0\"></span>rable mea<span class=\"_ _0\"></span>sure of the under<span class=\"_ _0\"></span>lying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it excl<span class=\"_ _0\"></span>udes the imp<span class=\"_ _0\"></span>act of shor<span class=\"_ _0\"></span>t-term eco<span class=\"_ _0\"></span>nomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other items<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The re<span class=\"_ _0\"></span>sult attr<span class=\"_ _0\"></span>ibutable to or<span class=\"_ _0\"></span>dinary e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y holder<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e parent for the p<span class=\"_ _0\"></span>urpose<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>termining ear<span class=\"_ _0\"></span>nings pe<span class=\"_ _0\"></span>r share has b<span class=\"_ _0\"></span>een ca<span class=\"_ _0\"></span>lculated as<span class=\"_ gs47\"> </span>set o<span class=\"_ _0\"></span>ut below.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w275 h212\" id=\"_8d1ef942-3769-48cc-9ee0-cb3649fc748a\"><tr><td></td><td></td><td></td><td class=\"t m0 x576 h29 y5b0c ff3 fs5 fc3 sc0 ls9e ws9a\">Adjusted<span class=\"_ _2\"></span> operating </td><td class=\"t m0 x577 h29 y5b0c ff3 fs5 fc3 sc0 ls1 ws1\">Ot<span class=\"_ _0\"></span>her </td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y5b0d ff3 fs5 fc3 sc0 ls9e ws9a\">Adjusted<span class=\"_ _2\"></span> <span class=\"ls1 ws1\"> </span></td><td class=\"t m0 x578 h29 y5b0d ff3 fs5 fc3 sc0 ls9e ws9a\">Financing<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 h29 y5b0d ff3 fs5 fc3 sc0 ls1 ws1\">ea<span class=\"_ _0\"></span>rning<span class=\"_ _0\"></span>s net of </td><td class=\"t m0 x57a h29 y5b0d ff3 fs5 fc3 sc0 ls9e ws9a\">non-operati<span class=\"_ _2\"></span>ng </td><td></td></tr><tr><td></td><td class=\"t m0 x57b h29 y5b0e ff3 fs5 fc3 sc0 ls1 ws1\">op<span class=\"_ _0\"></span>erat<span class=\"_ _0\"></span>ing pr<span class=\"_ _0\"></span>ofit </td><td class=\"t m0 x57c h29 y5b0e ff3 fs5 fc3 sc0 lsa8 wsa3\"> costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x57d h29 y5b0e ff3 fs5 fc3 sc0 ls9e ws9a\">financing<span class=\"_ _2\"></span> costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1ce h29 y5b0e ff3 fs5 fc3 sc0 ls22 ws24\">items<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5b0e ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x541 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5b0f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b10 w276 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(los<span class=\"_ _0\"></span>s) before the ta<span class=\"_ _0\"></span>x attrib<span class=\"_ _0\"></span>utable to owne<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x57e y5b10 w249 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">825<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x57f y5b10 w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x580 y5b10 w277 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">6<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x581 y5b10 w278 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>075<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x582 y5b10 w279 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>454)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b11 w27a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax (charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>cre<span class=\"_ _0\"></span>dit attrib<span class=\"_ _0\"></span>utable to own<span class=\"_ _0\"></span>ers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x583 y5b11 w27b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">(188)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x584 y5b11 w27c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x585 y5b11 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>137<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x586 y5b11 w27e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">513<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x587 y5b11 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b12 w27f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x588 y5b12 w190 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">6<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x589 y5b12 w17e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(15<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58a y5b12 w25a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">484<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58b y5b12 w280 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,56<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58c y5b12 w86 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>078<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b13 w281 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Co<span class=\"_ _0\"></span>upon paid on T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58d y5b13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58e y5b13 w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58f y5b13 w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x590 y5b13 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x591 y5b13 wca h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b14 w282 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct: S<span class=\"_ _0\"></span>hare of result at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x592 y5b14 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x593 y5b14 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x594 y5b14 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x595 y5b14 w1d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x596 y5b14 w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5b15 ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to ordina<span class=\"_ _0\"></span>ry eq<span class=\"_ _0\"></span>uity </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w283 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">holders of the<span class=\"_ _2\"></span> parent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x597 y5a16 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">6<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x598 y5a16 w127 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(18<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x599 y5a16 w284 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1de ws1f9\">455<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x59a y5a16 w285 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>74)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x582 y5a16 w286 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(1<span class=\"_ _0\"></span>,119)<span class=\"_ _3bd\"> </span></div></td></tr></table><div class=\"gs79\"><table class=\"s w287 h213\" id=\"_d2ffe326-69a5-44db-ac28-62bac33d54f7\"><tr><td></td><td></td><td></td><td class=\"t m0 x59b ha y5b16 ff2 fs5 fc3 sc0 ls1 ws1\">Adj<span class=\"_ _0\"></span>uste<span class=\"_ _0\"></span>d ope<span class=\"_ _0\"></span>ratin<span class=\"_ _0\"></span>g </td><td class=\"t m0 x577 ha y5b16 ff2 fs5 fc3 sc0 ls4d wsbf\">Other </td><td></td></tr><tr><td></td><td class=\"t m0 x59c ha y5b17 ff2 fs5 fc3 sc0 ls1 ws1\">Adj<span class=\"_ _0\"></span>uste<span class=\"_ _0\"></span>d </td><td class=\"t m0 x59d ha y5b17 ff2 fs5 fc3 sc0 ls54 ws7f\">Financing<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59e ha y5b17 ff2 fs5 fc3 sc0 ls1 ws1\">ea<span class=\"_ _0\"></span>rning<span class=\"_ _0\"></span>s net of </td><td class=\"t m0 x59f ha y5b17 ff2 fs5 fc3 sc0 ls11 ws11\">non-operating<span class=\"ls1 ws1\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x5a0 ha y5b18 ff2 fs5 fc3 sc0 ls1 ws1\">op<span class=\"_ _0\"></span>erati<span class=\"_ _0\"></span>ng<span class=\"_ gs1f7\"> </span>profi<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a1 ha y5b18 ff2 fs5 fc3 sc0 lsa8 wsa3\">costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59e ha y5b18 ff2 fs5 fc3 sc0 ls54 ws7f\">financing<span class=\"_ _2\"></span> costs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a2 ha y5b18 ff2 fs5 fc3 sc0 ls4d wsbf\">items<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5b18 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5b19 w288 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">2023 (restated)</div><div class=\"t m0 x5a3 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x5a4 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b1b w276 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(los<span class=\"_ _0\"></span>s) before the ta<span class=\"_ _0\"></span>x attrib<span class=\"_ _0\"></span>utable to owne<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a5 y5b1b w14f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">629<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a6 y5b1b w4a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(195<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a7 y5b1b w14e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">434<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x480 y5b1b w1dc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>356)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a8 y5b1b w197 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1c w27a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax (charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>cre<span class=\"_ _0\"></span>dit attrib<span class=\"_ _0\"></span>utable to own<span class=\"_ _0\"></span>ers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a9 y5b1c w207 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">(134<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5aa y5b1c w1a1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x255 y5b1c w1d5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(88)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ab y5b1c w289 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ac y5b1c w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b12 w27f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x588 y5b12 w28a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ad y5b12 w28b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ae y5b12 w4d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">346<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5af y5b12 w28c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b0 y5b12 w98 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1d w28d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Co<span class=\"_ _0\"></span>upon paid on T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _0\"></span>, net of tax re<span class=\"_ _0\"></span>lief<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b1 y5b1d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b2 y5b1d wbe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b3 y5b1d w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b4 y5b1d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b5 y5b1d w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1e w282 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct: S<span class=\"_ _0\"></span>hare of result at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b6 y5b1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b7 y5b1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b8 y5b1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b9 y5b1e w28e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ba y5b1e w28f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5b1f ff3 fs6 fc3 sc0 ls1 ws1\">Profit<span class=\"_ _0\"></span>/<span class=\"_ _2\"></span>(lo<span class=\"_ _0\"></span>ss) for the yea<span class=\"_ _0\"></span>r attrib<span class=\"_ _0\"></span>utabl<span class=\"_ _0\"></span>e to ordina<span class=\"_ _0\"></span>ry eq<span class=\"_ _0\"></span>uity </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w283 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">holders of the<span class=\"_ _2\"></span> parent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x597 y5a16 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5bb y5a16 w20a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>171<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5bc y5a16 we1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">324<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5bd y5a16 w290 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(29<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5be y5a16 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs1f8\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1f9\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e number of ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares out<span class=\"_ _0\"></span>standin<span class=\"_ _0\"></span>g during the p<span class=\"_ _0\"></span>eriod is c<span class=\"_ _0\"></span>alculated a<span class=\"_ _0\"></span>s follows:<span class=\"_ _3bd\"> </span></div><div class=\"gs1fa\"><table class=\"s w291 h214\" id=\"_0d39adf7-59cc-4c2e-84fb-a4f8938a925c\"><tr><td></td><td class=\"t m0 x1ce h29 y5b20 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5b20 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5bf h29 y5b21 ff3 fs5 fc3 sc0 ls65 wsc0\">Number<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c0 ha y5b21 ff2 fs5 fc3 sc0 ls21 ws23\">Numbe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5b22 ff3 fs5 fc3 sc0 ls65 wsc0\">million<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 ha y5b22 ff2 fs5 fc3 sc0 ls21 ws23\">million<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a12 w292 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Is<span class=\"_ _0\"></span>sued ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares at be<span class=\"_ _0\"></span>ginning of the yea<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c3 y5a12 w293 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">1,0<span class=\"_ _0\"></span>02<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c4 y5a12 w294 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d ws1f\">1,000<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b23 w295 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of ordinar<span class=\"_ _0\"></span>y share<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c5 y5b23 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x36c y5b23 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w296 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of non-c<span class=\"_ _0\"></span>ontingent<span class=\"_ _0\"></span>ly issua<span class=\"_ _0\"></span>ble shares in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of Group\u2019<span class=\"_ _2\"></span>s lo<span class=\"_ _0\"></span>ng-term inc<span class=\"_ _0\"></span>entive plan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c6 y5b24 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c7 y5b24 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w297 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Own s<span class=\"_ _0\"></span>hares hel<span class=\"_ _0\"></span>d by the employe<span class=\"_ _0\"></span>e benefit tr<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c8 y5b25 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c9 y5b25 w299 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w29a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Weighte<span class=\"_ _0\"></span>d averag<span class=\"_ _0\"></span>e numbe<span class=\"_ _0\"></span>r of ordina<span class=\"_ _0\"></span>ry sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ca y5a16 w29b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5cb y5a16 w1ee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1fb\">The dilu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d weighted aver<span class=\"_ _0\"></span>age numb<span class=\"_ _0\"></span>er of ordinar<span class=\"_ _0\"></span>y shares o<span class=\"_ _0\"></span>utst<span class=\"_ _0\"></span>anding durin<span class=\"_ _0\"></span>g the perio<span class=\"_ _0\"></span>d is 1,0<span class=\"_ _0\"></span>05 million (2<span class=\"_ _0\"></span>023: 1,<span class=\"_ _0\"></span>003 million). The G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s Long </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1fc\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rm Incent<span class=\"_ _0\"></span>ive Plan, Defer<span class=\"_ _0\"></span>red Bonu<span class=\"_ _0\"></span>s Share S<span class=\"_ _0\"></span>cheme an<span class=\"_ _0\"></span>d ShareS<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s increas<span class=\"_ _0\"></span>ed the weig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d average n<span class=\"_ _0\"></span>umber of share<span class=\"_ _0\"></span>s on a diluted ba<span class=\"_ _0\"></span>sis </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1fd\">by 4,<span class=\"_ _0\"></span>318<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>65 s<span class=\"_ _0\"></span>hares for the yea<span class=\"_ _0\"></span>r ended 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2024 (2023: 2,<span class=\"_ _0\"></span>259,<span class=\"_ _0\"></span>377 s<span class=\"_ _0\"></span>hares). As los<span class=\"_ _0\"></span>ses have an anti-<span class=\"_ _0\"></span>dilutive effec<span class=\"_ _0\"></span>t, non<span class=\"_ _0\"></span>e of the share<span class=\"_ _0\"></span>-base<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1fe\">awards h<span class=\"_ _0\"></span>ad a dilutive ef<span class=\"_ _0\"></span>fect in the c<span class=\"_ _0\"></span>alculatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>asic earnin<span class=\"_ _0\"></span>gs per sh<span class=\"_ _0\"></span>are for the year en<span class=\"_ _0\"></span>ded 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1ff\">Earnin<span class=\"_ _0\"></span>gs per s<span class=\"_ _0\"></span>hare disclo<span class=\"_ _0\"></span>sures are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs200\"><table class=\"s w26d h215\" id=\"_7962050a-da9e-4b80-8242-ac76b1137b47\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5b26 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5b27 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c0 ha y5b27 ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5cc h29 y5b28 ff3 fs5 fc3 sc0 ls9e ws9a\">pence<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 ha y5b28 ff2 fs5 fc3 sc0 ls4d wsbf\">pence<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b29 w29c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Basi<span class=\"_ _0\"></span>c earning<span class=\"_ _0\"></span>s per share<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5cd y5b29 w29d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(111<span class=\"_ _0\"></span>.8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ce y5b29 w29e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per share<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5cf y5b06 w2a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(111.8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d0 y5b06 w29e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a w2a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Basi<span class=\"_ _0\"></span>c adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing cos<span class=\"_ _0\"></span>ts per sh<span class=\"_ _0\"></span>are<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d1 y5b2a w2a2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d2 y5b2a w2a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _0\"></span>.4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w2a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dilute<span class=\"_ _0\"></span>d adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing cos<span class=\"_ _0\"></span>ts per s<span class=\"_ _0\"></span>hare<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d3 y5a16 w2a5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45.<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d4 y5a16 w2a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _0\"></span>.3<span class=\"_ _3bd\"> </span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-662": {
   "value": "The Gro<span class=\"_ _0\"></span>up calcul<span class=\"_ _0\"></span>ates its ba<span class=\"_ _0\"></span>sic earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re based o<span class=\"_ _0\"></span>n the prese<span class=\"_ _0\"></span>nt shares in is<span class=\"_ _0\"></span>sue using th<span class=\"_ _0\"></span>e earning<span class=\"_ _0\"></span>s attrib<span class=\"_ _0\"></span>utable to ordin<span class=\"_ _0\"></span>ary e<span class=\"_ _0\"></span>quity h<span class=\"_ _0\"></span>olders of the pare<span class=\"_ _0\"></span>nt, divide<span class=\"_ _0\"></span>d by the weighted aver<span class=\"_ _0\"></span>age numb<span class=\"_ _0\"></span>er of ordinar<span class=\"_ _0\"></span>y shares in i<span class=\"_ _0\"></span>ssue durin<span class=\"_ _0\"></span>g the year<span class=\"_ _2\"></span>. Dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per share a<span class=\"_ _0\"></span>re calcula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d base<span class=\"_ _0\"></span>d on the potenti<span class=\"_ _0\"></span>al future sha<span class=\"_ _0\"></span>res in issue a<span class=\"_ _0\"></span>ssumin<span class=\"_ _0\"></span>g the conversi<span class=\"_ _0\"></span>on of all potentially dilu<span class=\"_ _0\"></span>tive ordinar<span class=\"_ _0\"></span>y share<span class=\"_ _0\"></span>s. The we<span class=\"_ _0\"></span>ighted averag<span class=\"_ _0\"></span>e number of ordin<span class=\"_ _0\"></span>ary s<span class=\"_ _0\"></span>hares in iss<span class=\"_ _0\"></span>ue is adju<span class=\"_ _0\"></span>sted to as<span class=\"_ _0\"></span>sume conver<span class=\"_ _0\"></span>sion of dilutive sha<span class=\"_ _0\"></span>re awards grante<span class=\"_ _0\"></span>d to employee<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The b<span class=\"_ _0\"></span>asic and dilute<span class=\"_ _0\"></span>d earning<span class=\"_ _0\"></span>s per sha<span class=\"_ _0\"></span>re calculati<span class=\"_ _0\"></span>ons are also p<span class=\"_ _0\"></span>resented b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e Group\u2019s adjus<span class=\"_ _0\"></span>ted oper<span class=\"_ _0\"></span>ating earnin<span class=\"_ _0\"></span>gs net of finan<span class=\"_ _0\"></span>cing cos<span class=\"_ _0\"></span>ts. Ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d operatin<span class=\"_ _0\"></span>g profit is a non-<span class=\"_ _0\"></span>GAAP pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce mea<span class=\"_ _0\"></span>sure that is con<span class=\"_ _0\"></span>sidered to p<span class=\"_ _0\"></span>rovide a compa<span class=\"_ _0\"></span>rable mea<span class=\"_ _0\"></span>sure of the under<span class=\"_ _0\"></span>lying per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of the busin<span class=\"_ _0\"></span>ess as it excl<span class=\"_ _0\"></span>udes the imp<span class=\"_ _0\"></span>act of shor<span class=\"_ _0\"></span>t-term eco<span class=\"_ _0\"></span>nomic volatilit<span class=\"_ _0\"></span>y, one-of<span class=\"_ _0\"></span>f items and c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain other items<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-622": {
   "value": "B4. D<span class=\"_ _0\"></span>ividends on ordina<span class=\"_ _0\"></span>ry sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span>Final di<span class=\"_ _0\"></span>vidends on o<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y shares are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a liabilit<span class=\"_ _0\"></span>y and d<span class=\"_ _0\"></span>educte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are approved by th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s own<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>. Interim<span class=\"_ gs47\"> </span>divi<span class=\"_ _0\"></span>dends are de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are paid. Divid<span class=\"_ _0\"></span>ends for the yea<span class=\"_ _0\"></span>r that are approve<span class=\"_ _0\"></span>d after the re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting perio<span class=\"_ _0\"></span>d are dealt with a<span class=\"_ _0\"></span>s an event afte<span class=\"_ _0\"></span>r the repor<span class=\"_ _0\"></span>ting pe<span class=\"_ _0\"></span>riod. De<span class=\"_ _0\"></span>clared div<span class=\"_ _0\"></span>idends are thos<span class=\"_ _0\"></span>e that are appro<span class=\"_ _0\"></span>priately aut<span class=\"_ _0\"></span>horise<span class=\"_ _0\"></span>d and are no lon<span class=\"_ _0\"></span>ger at the dis<span class=\"_ _0\"></span>cretion of the enti<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span><table class=\"s w26d h216\" id=\"_986a33d4-932f-49ea-b30c-2350b283644e\"><tr><td></td><td class=\"t m0 x1ce h29 y5b2b ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5b2b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5b2c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b2c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w2a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Divid<span class=\"_ _0\"></span>ends dec<span class=\"_ _0\"></span>lared and p<span class=\"_ _0\"></span>aid in the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d5 y5a16 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">533<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d6 y5a16 w2a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table>On 21 M<span class=\"_ _0\"></span>arch 2024, the B<span class=\"_ _0\"></span>oard rec<span class=\"_ _0\"></span>ommend<span class=\"_ _0\"></span>ed a final divid<span class=\"_ _0\"></span>end of 26.<span class=\"_ _0\"></span>65p p<span class=\"_ _0\"></span>er share in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e year ende<span class=\"_ _0\"></span>d 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>023. Th<span class=\"_ _0\"></span>e dividend was app<span class=\"_ _0\"></span>roved at the Group\u2019s Annua<span class=\"_ _0\"></span>l Gener<span class=\"_ _0\"></span>al Meetin<span class=\"_ _0\"></span>g, which w<span class=\"_ _0\"></span>as held on 14 M<span class=\"_ _0\"></span>ay 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>. The dividen<span class=\"_ _0\"></span>d amounte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o \u00a3<span class=\"_ _0\"></span>267 million an<span class=\"_ _0\"></span>d was paid on 22 May 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4. On 11 S<span class=\"_ _0\"></span>eptembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Board d<span class=\"_ _0\"></span>eclare<span class=\"_ _0\"></span>d an interim dividen<span class=\"_ _0\"></span>d of 26.6<span class=\"_ _0\"></span>5p pe<span class=\"_ _0\"></span>r share for the h<span class=\"_ _0\"></span>alf year ende<span class=\"_ _0\"></span>d 30 Jun<span class=\"_ _0\"></span>e 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>. The divide<span class=\"_ _0\"></span>nd amounte<span class=\"_ _0\"></span>d to \u00a326<span class=\"_ _0\"></span>6 million an<span class=\"_ _0\"></span>d was paid on 31 O<span class=\"_ _0\"></span>ctober 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-663": {
   "value": "Final di<span class=\"_ _0\"></span>vidends on o<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y shares are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a liabilit<span class=\"_ _0\"></span>y and d<span class=\"_ _0\"></span>educte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are approved by th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s own<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>. Interim<span class=\"_ gs47\"> </span>divi<span class=\"_ _0\"></span>dends are de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d from equit<span class=\"_ _0\"></span>y when th<span class=\"_ _0\"></span>ey are paid. Divid<span class=\"_ _0\"></span>ends for the yea<span class=\"_ _0\"></span>r that are approve<span class=\"_ _0\"></span>d after the re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting perio<span class=\"_ _0\"></span>d are dealt with a<span class=\"_ _0\"></span>s an event afte<span class=\"_ _0\"></span>r the repor<span class=\"_ _0\"></span>ting pe<span class=\"_ _0\"></span>riod. De<span class=\"_ _0\"></span>clared div<span class=\"_ _0\"></span>idends are thos<span class=\"_ _0\"></span>e that are appro<span class=\"_ _0\"></span>priately aut<span class=\"_ _0\"></span>horise<span class=\"_ _0\"></span>d and are no lon<span class=\"_ _0\"></span>ger at the dis<span class=\"_ _0\"></span>cretion of the enti<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-580": {
   "value": "C1. Ins<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>ce re<span class=\"_ _2\"></span>venue<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ins<span class=\"_ _0\"></span>urance reven<span class=\"_ _0\"></span>ue reflec<span class=\"_ _0\"></span>ts the provisio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es arising f<span class=\"_ _0\"></span>rom a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts at a<span class=\"_ _0\"></span>n amount that refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s the con<span class=\"_ _0\"></span>sideration to wh<span class=\"_ _0\"></span>ich the Group ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>s to be entitle<span class=\"_ _0\"></span>d in exchang<span class=\"_ _0\"></span>e for those s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es. In<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue from a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts is therefore t<span class=\"_ _0\"></span>he relevant po<span class=\"_ _0\"></span>rtion for th<span class=\"_ _0\"></span>e period of th<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al consid<span class=\"_ _0\"></span>eration for the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts, (i.<span class=\"_ _0\"></span>e. the amount of pre<span class=\"_ _0\"></span>miums paid to th<span class=\"_ _0\"></span>e Group adj<span class=\"_ _0\"></span>usted for finan<span class=\"_ _0\"></span>cing effe<span class=\"_ _0\"></span>ct (the time val<span class=\"_ _0\"></span>ue of money) and exclu<span class=\"_ _0\"></span>ding any investme<span class=\"_ _0\"></span>nt compon<span class=\"_ _0\"></span>ents). The total c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation for a group of contr<span class=\"_ _0\"></span>acts c<span class=\"_ _0\"></span>overs amo<span class=\"_ _0\"></span>unts related to th<span class=\"_ _0\"></span>e provision of ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and is comp<span class=\"_ _0\"></span>rised of: \u2022 <span class=\"_ _19\"> </span>the re<span class=\"_ _0\"></span>lease of the C<span class=\"_ _0\"></span>SM;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk rela<span class=\"_ _0\"></span>ting to current se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ws1\">cl<span class=\"_ _0\"></span>aims and othe<span class=\"_ _0\"></span>r insuranc<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vice expe<span class=\"_ _0\"></span>nses inc<span class=\"_ _0\"></span>urred in the pe<span class=\"_ _0\"></span>riod, g<span class=\"_ _0\"></span>enerally m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at the amount<span class=\"_ _0\"></span>s expe<span class=\"_ _0\"></span>cted at the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e period;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows re<span class=\"_ _0\"></span>covery w<span class=\"_ _0\"></span>hich is determin<span class=\"_ _0\"></span>ed by alloc<span class=\"_ _0\"></span>ating the po<span class=\"_ _0\"></span>rtion of pre<span class=\"_ _0\"></span>miums relate<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o t<span class=\"_ _0\"></span>he recover<span class=\"_ _0\"></span>y of those c<span class=\"_ _0\"></span>ash flows on th<span class=\"_ _0\"></span>e basis of the p<span class=\"_ _0\"></span>assa<span class=\"_ _0\"></span>ge of time over the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d coverage of a gro<span class=\"_ _0\"></span>up of contrac<span class=\"_ _0\"></span>ts; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r amounts<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding any other pre<span class=\"_ _0\"></span>-recog<span class=\"_ _0\"></span>nition ca<span class=\"_ _0\"></span>sh flow ass<span class=\"_ _0\"></span>ets dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed at the date of initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition.<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ount of the CS<span class=\"_ _0\"></span>M of a group of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at is recog<span class=\"_ _0\"></span>nised as in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue in eac<span class=\"_ _0\"></span>h year is determin<span class=\"_ _0\"></span>ed by identif<span class=\"_ _0\"></span>ying the covera<span class=\"_ _0\"></span>ge units in th<span class=\"_ _0\"></span>e group, alloc<span class=\"_ _0\"></span>ating the C<span class=\"_ _0\"></span>SM remain<span class=\"_ _0\"></span>ing at the end of th<span class=\"_ _0\"></span>e year equa<span class=\"_ _0\"></span>lly to each cover<span class=\"_ _0\"></span>age unit provid<span class=\"_ _0\"></span>ed in the year a<span class=\"_ _0\"></span>nd expe<span class=\"_ _0\"></span>cted to be p<span class=\"_ _0\"></span>rovided in fut<span class=\"_ _0\"></span>ure years<span class=\"_ _0\"></span>, and rec<span class=\"_ _0\"></span>ognising in p<span class=\"_ _0\"></span>rofit or loss th<span class=\"_ _0\"></span>e amount of the CS<span class=\"_ _0\"></span>M alloc<span class=\"_ _0\"></span>ated to covera<span class=\"_ _0\"></span>ge units provi<span class=\"_ _0\"></span>ded in the year. The n<span class=\"_ _0\"></span>umber of covera<span class=\"_ _0\"></span>ge units in a gro<span class=\"_ _0\"></span>up is the quantit<span class=\"_ _0\"></span>y of ser<span class=\"_ _0\"></span>vice provi<span class=\"_ _0\"></span>ded by the cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s in the group, dete<span class=\"_ _0\"></span>rmined by con<span class=\"_ _0\"></span>sidering for e<span class=\"_ _0\"></span>ach contr<span class=\"_ _0\"></span>act the qu<span class=\"_ _0\"></span>antity of b<span class=\"_ _0\"></span>enefits provi<span class=\"_ _0\"></span>ded unde<span class=\"_ _0\"></span>r a contrac<span class=\"_ _0\"></span>t and its exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period. T<span class=\"_ _0\"></span>he coverag<span class=\"_ _0\"></span>e units are revie<span class=\"_ _0\"></span>wed and upd<span class=\"_ _0\"></span>ated at eac<span class=\"_ _0\"></span>h repor<span class=\"_ _0\"></span>ting date.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>er the following wh<span class=\"_ _0\"></span>en determinin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e units: \u2022 <span class=\"_ _19\"> </span>the q<span class=\"_ _0\"></span>uantit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>enefits p<span class=\"_ _0\"></span>rovided by contr<span class=\"_ _0\"></span>acts in th<span class=\"_ _0\"></span>e group; \u2022 <span class=\"_ _19\"> </span>the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s in the group; \u2022 <span class=\"_ _19\"> </span>the likeliho<span class=\"_ _0\"></span>od of insured e<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nts occ<span class=\"_ _0\"></span>urring, o<span class=\"_ _0\"></span>nly to the ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nt that they af<span class=\"_ _0\"></span>fect the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s in the group;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipati<span class=\"_ _0\"></span>on features<span class=\"_ _0\"></span>, the gen<span class=\"_ _0\"></span>eration of an inves<span class=\"_ _0\"></span>tment return fo<span class=\"_ _0\"></span>r the policy<span class=\"_ _0\"></span>holder, if applicab<span class=\"_ _0\"></span>le (investm<span class=\"_ _0\"></span>ent-return ser<span class=\"_ _0\"></span>vice); an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s with direc<span class=\"_ _0\"></span>t parti<span class=\"_ _0\"></span>cipation feat<span class=\"_ _0\"></span>ures, the m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment of under<span class=\"_ _0\"></span>lying items on b<span class=\"_ _0\"></span>ehalf of the p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>er (investme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>-<span class=\"_ _3bd\"> </span>relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vice).<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rage unit<span class=\"_ _0\"></span>s for groups of reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are de<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rmined ba<span class=\"_ _0\"></span>sed on th<span class=\"_ _0\"></span>e quantit<span class=\"_ _0\"></span>y of coverage p<span class=\"_ _0\"></span>rovided by the rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld in the gro<span class=\"_ _0\"></span>up but not the cover<span class=\"_ _0\"></span>age provide<span class=\"_ _0\"></span>d by the insure<span class=\"_ _0\"></span>r to its polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s through th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts. However, where the re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e held is a 1<span class=\"_ _0\"></span>00% quot<span class=\"_ _0\"></span>a share arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nt, it is exp<span class=\"_ _0\"></span>ected t<span class=\"_ _0\"></span>hat the covera<span class=\"_ _0\"></span>ge units wo<span class=\"_ _0\"></span>uld be con<span class=\"_ _0\"></span>sistent with th<span class=\"_ _0\"></span>e under<span class=\"_ _0\"></span>lying insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. Where th<span class=\"_ _0\"></span>ere is a chan<span class=\"_ _0\"></span>ge to the fulfilm<span class=\"_ _0\"></span>ent cash flo<span class=\"_ _0\"></span>ws of the group of unde<span class=\"_ _0\"></span>rlying polic<span class=\"_ _0\"></span>ies that do<span class=\"_ _0\"></span>es not adj<span class=\"_ _0\"></span>ust the CS<span class=\"_ _0\"></span>M, it als<span class=\"_ _0\"></span>o would not ad<span class=\"_ _0\"></span>just th<span class=\"_ _0\"></span>e CSM of the gro<span class=\"_ _0\"></span>up of reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span>Retirement Solutions<span class=\"_ _3bd\"> </span>\u00a3m<span class=\"_ _3bd\"> </span><table class=\"s w257 h217\" id=\"_3bfe9600-1313-4fde-b1b3-e1a17f9e85fb\"><tr><td></td><td></td><td class=\"t m0 x5d7 h29 y5b2d ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x5d8 h29 y5b2e ff3 fs5 fc3 sc0 ls21 ws23\">Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5d9 h29 y5b2e ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5da h29 y5b2e ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5b2e ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x57d h29 y5b2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 h29 y5b2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db h29 y5b2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5b2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5b30 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts relating to c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in liabilities for rem<span class=\"_ _0\"></span>aining cover<span class=\"_ _0\"></span>age:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b31 w2a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised in p<span class=\"_ _0\"></span>eriod for se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5dc y5b31 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5dd y5b31 w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5de y5b31 w2aa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5df y5b31 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e0 y5b31 w2ab h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17 ws18\">444<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b32 w2ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in risk ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent for non-fin<span class=\"_ _0\"></span>ancial risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e1 y5b32 w2ad h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e4 ws200\">71<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e2 y5b32 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e3 y5b32 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e4 y5b32 w9b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e5 y5b32 w2ae h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">103<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 w2af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incurre<span class=\"_ _0\"></span>d claims and oth<span class=\"_ _0\"></span>er insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice exp<span class=\"_ _0\"></span>enses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e6 y5b33 w2b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,568<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e7 y5b33 w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">194<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e8 y5b33 wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">262<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e9 y5b33 w2b2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ea y5b33 w2b3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">4,<span class=\"_ _0\"></span>511<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 w2b4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charges<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5eb y5b34 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ec y5b34 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ed y5b34 w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ee y5b34 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x29b y5b34 w2b5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">69<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w2b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts relating to re<span class=\"_ _0\"></span>cover<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e acquisitio<span class=\"_ _0\"></span>n cash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ef y5afa w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f0 y5afa w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f1 y5afa w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f2 y5afa wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f3 y5afa w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b35 w2b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Insurance revenue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f4 y5b35 w2b8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>918<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f5 y5b35 w259 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f6 y5b35 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f7 y5b35 w25a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">569<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f8 y5b35 w2b9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">5,139<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5b36 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>prising cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d using:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a15 w2ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Fair value<span class=\"_ _2\"></span> approa<span class=\"_ _0\"></span>ch<span class=\"_ _2\"></span> at transition<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5f9 y5a15 w2bb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6d ws202\">1,8<span class=\"_ _0\"></span>46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fa y5a15 waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">271<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fb y5a15 w103 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">358<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fc y5a15 waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">427<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fd y5a15 w2bc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,90<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w2bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Fully retrosp<span class=\"_ _0\"></span>ective ap<span class=\"_ _0\"></span>proach at tr<span class=\"_ _0\"></span>ansition an<span class=\"_ _0\"></span>d new contra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fe y5a16 w2be h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2,<span class=\"_ _0\"></span>072<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ff y5a16 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x600 y5a16 w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x601 y5a16 w1c1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x602 y5a16 wda h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>237<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w2bf h218\" id=\"_18f8b797-1d10-4889-9e4c-cbf2e457368d\"><tr><td></td><td class=\"t m0 x603 ha y5b37 ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> </td><td class=\"t m0 x604 ha y5b37 ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x605 ha y5b38 ff2 fs5 fc3 sc0 ls11 ws11\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x606 ha y5b38 ff2 fs5 fc3 sc0 ls14a ws138\">Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48d ha y5b38 ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b0 ha y5b38 ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5b38 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5b39 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a ha y5b39 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y5b39 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 ha y5b39 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c ha y5b39 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5b39 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5b3a ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts relating to c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in liabilities for rem<span class=\"_ _0\"></span>aining cover<span class=\"_ _0\"></span>age:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5b31 w2a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised in p<span class=\"_ _0\"></span>eriod for se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x608 y5b31 w2c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x609 y5b31 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x60a y5b31 w225 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">77<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x60b y5b31 w2c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x60c y5b31 w2c3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">409<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b32 w2ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt for non-fin<span class=\"_ _0\"></span>ancial risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x60d y5b32 wc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x60e y5b32 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x60f y5b32 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x610 y5b32 w1b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x611 y5b32 w5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b3b w2af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incurre<span class=\"_ _0\"></span>d claims and oth<span class=\"_ _0\"></span>er insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice exp<span class=\"_ _0\"></span>enses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x612 y5b3b w2c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">3,45<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x613 y5b3b w6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">233<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x614 y5b3b w1a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x615 y5b3b w16f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">497<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x616 y5b3b w132 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">4,<span class=\"_ _0\"></span>349<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 w2b4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charges<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x617 y5b34 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x618 y5b34 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x619 y5b34 w2c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61a y5b34 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61b y5b34 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5afa w2b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts relating to re<span class=\"_ _0\"></span>cover<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e acquisitio<span class=\"_ _0\"></span>n cash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61c y5afa w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61d y5afa wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61e y5afa wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61f y5afa w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x620 y5afa w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a45 w2b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Insurance revenue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x621 y5a45 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x622 y5a45 w265 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x623 y5a45 w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x624 y5a45 w1c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>71<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x625 y5a45 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4,<span class=\"_ _0\"></span>861<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5b3c ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>prising cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d using:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5a15 w2ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Fair value<span class=\"_ _2\"></span> approa<span class=\"_ _0\"></span>ch<span class=\"_ _2\"></span> at transition<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x626 y5a15 w2c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>,887<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x627 y5a15 w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">262<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x628 y5a15 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x629 y5a15 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x62a y5a15 w2c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">2<span class=\"_ _0\"></span>,826<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 w2bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Fully retrosp<span class=\"_ _0\"></span>ective ap<span class=\"_ _0\"></span>proach at tr<span class=\"_ _0\"></span>ansition an<span class=\"_ _0\"></span>d new contra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x62b y5a16 w2c9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,864<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x62c y5a16 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x62d y5a16 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x62e y5a16 w2ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">1<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x62f y5a16 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">2,<span class=\"_ _0\"></span>035</div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInsurancePremiumRevenueExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-664": {
   "value": "The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ins<span class=\"_ _0\"></span>urance reven<span class=\"_ _0\"></span>ue reflec<span class=\"_ _0\"></span>ts the provisio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es arising f<span class=\"_ _0\"></span>rom a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts at a<span class=\"_ _0\"></span>n amount that refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s the con<span class=\"_ _0\"></span>sideration to wh<span class=\"_ _0\"></span>ich the Group ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>s to be entitle<span class=\"_ _0\"></span>d in exchang<span class=\"_ _0\"></span>e for those s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es. In<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue from a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts is therefore t<span class=\"_ _0\"></span>he relevant po<span class=\"_ _0\"></span>rtion for th<span class=\"_ _0\"></span>e period of th<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al consid<span class=\"_ _0\"></span>eration for the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts, (i.<span class=\"_ _0\"></span>e. the amount of pre<span class=\"_ _0\"></span>miums paid to th<span class=\"_ _0\"></span>e Group adj<span class=\"_ _0\"></span>usted for finan<span class=\"_ _0\"></span>cing effe<span class=\"_ _0\"></span>ct (the time val<span class=\"_ _0\"></span>ue of money) and exclu<span class=\"_ _0\"></span>ding any investme<span class=\"_ _0\"></span>nt compon<span class=\"_ _0\"></span>ents). The total c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation for a group of contr<span class=\"_ _0\"></span>acts c<span class=\"_ _0\"></span>overs amo<span class=\"_ _0\"></span>unts related to th<span class=\"_ _0\"></span>e provision of ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and is comp<span class=\"_ _0\"></span>rised of: \u2022 <span class=\"_ _19\"> </span>the re<span class=\"_ _0\"></span>lease of the C<span class=\"_ _0\"></span>SM;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk rela<span class=\"_ _0\"></span>ting to current se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ws1\">cl<span class=\"_ _0\"></span>aims and othe<span class=\"_ _0\"></span>r insuranc<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vice expe<span class=\"_ _0\"></span>nses inc<span class=\"_ _0\"></span>urred in the pe<span class=\"_ _0\"></span>riod, g<span class=\"_ _0\"></span>enerally m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at the amount<span class=\"_ _0\"></span>s expe<span class=\"_ _0\"></span>cted at the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e period;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows re<span class=\"_ _0\"></span>covery w<span class=\"_ _0\"></span>hich is determin<span class=\"_ _0\"></span>ed by alloc<span class=\"_ _0\"></span>ating the po<span class=\"_ _0\"></span>rtion of pre<span class=\"_ _0\"></span>miums relate<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o t<span class=\"_ _0\"></span>he recover<span class=\"_ _0\"></span>y of those c<span class=\"_ _0\"></span>ash flows on th<span class=\"_ _0\"></span>e basis of the p<span class=\"_ _0\"></span>assa<span class=\"_ _0\"></span>ge of time over the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d coverage of a gro<span class=\"_ _0\"></span>up of contrac<span class=\"_ _0\"></span>ts; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r amounts<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding any other pre<span class=\"_ _0\"></span>-recog<span class=\"_ _0\"></span>nition ca<span class=\"_ _0\"></span>sh flow ass<span class=\"_ _0\"></span>ets dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed at the date of initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition.<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ount of the CS<span class=\"_ _0\"></span>M of a group of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at is recog<span class=\"_ _0\"></span>nised as in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue in eac<span class=\"_ _0\"></span>h year is determin<span class=\"_ _0\"></span>ed by identif<span class=\"_ _0\"></span>ying the covera<span class=\"_ _0\"></span>ge units in th<span class=\"_ _0\"></span>e group, alloc<span class=\"_ _0\"></span>ating the C<span class=\"_ _0\"></span>SM remain<span class=\"_ _0\"></span>ing at the end of th<span class=\"_ _0\"></span>e year equa<span class=\"_ _0\"></span>lly to each cover<span class=\"_ _0\"></span>age unit provid<span class=\"_ _0\"></span>ed in the year a<span class=\"_ _0\"></span>nd expe<span class=\"_ _0\"></span>cted to be p<span class=\"_ _0\"></span>rovided in fut<span class=\"_ _0\"></span>ure years<span class=\"_ _0\"></span>, and rec<span class=\"_ _0\"></span>ognising in p<span class=\"_ _0\"></span>rofit or loss th<span class=\"_ _0\"></span>e amount of the CS<span class=\"_ _0\"></span>M alloc<span class=\"_ _0\"></span>ated to covera<span class=\"_ _0\"></span>ge units provi<span class=\"_ _0\"></span>ded in the year. The n<span class=\"_ _0\"></span>umber of covera<span class=\"_ _0\"></span>ge units in a gro<span class=\"_ _0\"></span>up is the quantit<span class=\"_ _0\"></span>y of ser<span class=\"_ _0\"></span>vice provi<span class=\"_ _0\"></span>ded by the cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s in the group, dete<span class=\"_ _0\"></span>rmined by con<span class=\"_ _0\"></span>sidering for e<span class=\"_ _0\"></span>ach contr<span class=\"_ _0\"></span>act the qu<span class=\"_ _0\"></span>antity of b<span class=\"_ _0\"></span>enefits provi<span class=\"_ _0\"></span>ded unde<span class=\"_ _0\"></span>r a contrac<span class=\"_ _0\"></span>t and its exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period. T<span class=\"_ _0\"></span>he coverag<span class=\"_ _0\"></span>e units are revie<span class=\"_ _0\"></span>wed and upd<span class=\"_ _0\"></span>ated at eac<span class=\"_ _0\"></span>h repor<span class=\"_ _0\"></span>ting date.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>er the following wh<span class=\"_ _0\"></span>en determinin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e units: \u2022 <span class=\"_ _19\"> </span>the q<span class=\"_ _0\"></span>uantit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>enefits p<span class=\"_ _0\"></span>rovided by contr<span class=\"_ _0\"></span>acts in th<span class=\"_ _0\"></span>e group; \u2022 <span class=\"_ _19\"> </span>the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s in the group; \u2022 <span class=\"_ _19\"> </span>the likeliho<span class=\"_ _0\"></span>od of insured e<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nts occ<span class=\"_ _0\"></span>urring, o<span class=\"_ _0\"></span>nly to the ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nt that they af<span class=\"_ _0\"></span>fect the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d coverag<span class=\"_ _0\"></span>e period of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s in the group;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipati<span class=\"_ _0\"></span>on features<span class=\"_ _0\"></span>, the gen<span class=\"_ _0\"></span>eration of an inves<span class=\"_ _0\"></span>tment return fo<span class=\"_ _0\"></span>r the policy<span class=\"_ _0\"></span>holder, if applicab<span class=\"_ _0\"></span>le (investm<span class=\"_ _0\"></span>ent-return ser<span class=\"_ _0\"></span>vice); an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s with direc<span class=\"_ _0\"></span>t parti<span class=\"_ _0\"></span>cipation feat<span class=\"_ _0\"></span>ures, the m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment of under<span class=\"_ _0\"></span>lying items on b<span class=\"_ _0\"></span>ehalf of the p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>er (investme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>-<span class=\"_ _3bd\"> </span>relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vice).<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rage unit<span class=\"_ _0\"></span>s for groups of reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are de<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rmined ba<span class=\"_ _0\"></span>sed on th<span class=\"_ _0\"></span>e quantit<span class=\"_ _0\"></span>y of coverage p<span class=\"_ _0\"></span>rovided by the rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld in the gro<span class=\"_ _0\"></span>up but not the cover<span class=\"_ _0\"></span>age provide<span class=\"_ _0\"></span>d by the insure<span class=\"_ _0\"></span>r to its polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s through th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts. However, where the re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e held is a 1<span class=\"_ _0\"></span>00% quot<span class=\"_ _0\"></span>a share arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nt, it is exp<span class=\"_ _0\"></span>ected t<span class=\"_ _0\"></span>hat the covera<span class=\"_ _0\"></span>ge units wo<span class=\"_ _0\"></span>uld be con<span class=\"_ _0\"></span>sistent with th<span class=\"_ _0\"></span>e under<span class=\"_ _0\"></span>lying insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. Where th<span class=\"_ _0\"></span>ere is a chan<span class=\"_ _0\"></span>ge to the fulfilm<span class=\"_ _0\"></span>ent cash flo<span class=\"_ _0\"></span>ws of the group of unde<span class=\"_ _0\"></span>rlying polic<span class=\"_ _0\"></span>ies that do<span class=\"_ _0\"></span>es not adj<span class=\"_ _0\"></span>ust the CS<span class=\"_ _0\"></span>M, it als<span class=\"_ _0\"></span>o would not ad<span class=\"_ _0\"></span>just th<span class=\"_ _0\"></span>e CSM of the gro<span class=\"_ _0\"></span>up of reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Classification Contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der which th<span class=\"_ _0\"></span>e Group acc<span class=\"_ _0\"></span>epts sign<span class=\"_ _0\"></span>ificant insur<span class=\"_ _0\"></span>ance risk a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s. Contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld by the Gro<span class=\"_ _0\"></span>up under which it tr<span class=\"_ _0\"></span>ansfer<span class=\"_ _0\"></span>s significa<span class=\"_ _0\"></span>nt insuranc<span class=\"_ _0\"></span>e risk relate<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>derlying in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are clas<span class=\"_ _0\"></span>sified a<span class=\"_ _0\"></span>s reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. Some co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s entere<span class=\"_ _0\"></span>d into by the Group have the l<span class=\"_ _0\"></span>egal form of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s but do not tr<span class=\"_ _0\"></span>ansfer sig<span class=\"_ _0\"></span>nificant ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k and expos<span class=\"_ _0\"></span>e the Group to finan<span class=\"_ _0\"></span>cial risk. T<span class=\"_ _0\"></span>hese co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are clas<span class=\"_ _0\"></span>sified as fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies and are referre<span class=\"_ _0\"></span>d to as investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>All referen<span class=\"_ _0\"></span>ces in thes<span class=\"_ _0\"></span>e acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s to insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts incl<span class=\"_ _0\"></span>ude contra<span class=\"_ _0\"></span>cts is<span class=\"_ _0\"></span>sued, in<span class=\"_ _0\"></span>itiated or ac<span class=\"_ _0\"></span>quired by the Group, unl<span class=\"_ _0\"></span>ess othe<span class=\"_ _0\"></span>rwise s<span class=\"_ _0\"></span>tated<span class=\"_ _0\"></span>. Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are class<span class=\"_ _0\"></span>ified as dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts or contra<span class=\"_ _0\"></span>cts wit<span class=\"_ _0\"></span>hout direc<span class=\"_ _0\"></span>t par<span class=\"_ _0\"></span>ticipation feat<span class=\"_ _0\"></span>ures. Dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contr<span class=\"_ _0\"></span>acts are c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts for which<span class=\"_ _0\"></span>, at inceptio<span class=\"_ _0\"></span>n:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>tual terms sp<span class=\"_ _0\"></span>ecif<span class=\"_ _0\"></span>y that the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der par<span class=\"_ _0\"></span>ticipates in a sh<span class=\"_ _0\"></span>are of a clearly id<span class=\"_ _0\"></span>entified p<span class=\"_ _0\"></span>ool of underly<span class=\"_ _0\"></span>ing items;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup expe<span class=\"_ _0\"></span>cts to pay to the p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder an amo<span class=\"_ _0\"></span>unt equal to a sub<span class=\"_ _0\"></span>stantial s<span class=\"_ _0\"></span>hare of the fair val<span class=\"_ _0\"></span>ue returns on th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g items; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup expe<span class=\"_ _0\"></span>cts a subs<span class=\"_ _0\"></span>tantial p<span class=\"_ _0\"></span>ropor<span class=\"_ _0\"></span>tion of any chang<span class=\"_ _0\"></span>e in the amount<span class=\"_ _0\"></span>s to be paid to the p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder to var<span class=\"_ _0\"></span>y with the ch<span class=\"_ _0\"></span>ange in fair val<span class=\"_ _0\"></span>ue of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s. All other in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts and all rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s contrac<span class=\"_ _0\"></span>ts witho<span class=\"_ _0\"></span>ut direct p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ation feature<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Som<span class=\"_ _0\"></span>e investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts iss<span class=\"_ _0\"></span>ued by the Gro<span class=\"_ _0\"></span>up contain dis<span class=\"_ _0\"></span>cretionar<span class=\"_ _0\"></span>y par<span class=\"_ _0\"></span>ticipation fe<span class=\"_ _0\"></span>atures (\u2018<span class=\"_ _0\"></span>DPF<span class=\"_ _0\"></span>\u2019), where<span class=\"_ _0\"></span>by the investor h<span class=\"_ _0\"></span>as the right an<span class=\"_ _0\"></span>d is expe<span class=\"_ _0\"></span>cted to re<span class=\"_ _0\"></span>ceive, as a s<span class=\"_ _0\"></span>upplement to th<span class=\"_ _0\"></span>e amount not s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the Group\u2019s discretion<span class=\"_ _0\"></span>, potentiall<span class=\"_ _0\"></span>y significant a<span class=\"_ _0\"></span>dditional b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s based o<span class=\"_ _0\"></span>n the return of sp<span class=\"_ _0\"></span>ecified p<span class=\"_ _0\"></span>ools of invest<span class=\"_ _0\"></span>ment ass<span class=\"_ _0\"></span>ets. T<span class=\"_ _0\"></span>he Group ac<span class=\"_ _0\"></span>counts for th<span class=\"_ _0\"></span>ese contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der IFRS 17 c<span class=\"_ _0\"></span>onsis<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nt with insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The cl<span class=\"_ _0\"></span>assific<span class=\"_ _0\"></span>ation ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent is made at t<span class=\"_ _0\"></span>he date of inceptio<span class=\"_ _0\"></span>n or for busine<span class=\"_ _0\"></span>ss combin<span class=\"_ _0\"></span>ations or po<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>folio transfe<span class=\"_ _0\"></span>rs, as a<span class=\"_ _0\"></span>t the date of acquis<span class=\"_ _0\"></span>ition. Onc<span class=\"_ _0\"></span>e a contrac<span class=\"_ _0\"></span>t is ass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce, inves<span class=\"_ _0\"></span>tment with D<span class=\"_ _0\"></span>PF or reinsuran<span class=\"_ _0\"></span>ce, the c<span class=\"_ _0\"></span>lassific<span class=\"_ _0\"></span>ation contin<span class=\"_ _0\"></span>ues until the co<span class=\"_ _0\"></span>ntract is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed or mod<span class=\"_ _0\"></span>ified.<span class=\"_ _3bd\"> </span>When c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ing clas<span class=\"_ _0\"></span>sification<span class=\"_ _0\"></span>, and appl<span class=\"_ _0\"></span>ying the provisio<span class=\"_ _0\"></span>ns of IFRS 17<span class=\"_ _2\"></span>, the G<span class=\"_ _0\"></span>roup identifie<span class=\"_ _0\"></span>s a contrac<span class=\"_ _0\"></span>t as the sma<span class=\"_ _0\"></span>llest unit of ac<span class=\"_ _0\"></span>count. Th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>Group also m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s an evaluation of whe<span class=\"_ _0\"></span>ther a seri<span class=\"_ _0\"></span>es of contrac<span class=\"_ _0\"></span>ts can b<span class=\"_ _0\"></span>e treated to<span class=\"_ _0\"></span>gether in ap<span class=\"_ _0\"></span>plying IFR<span class=\"_ _0\"></span>S 17 base<span class=\"_ _0\"></span>d on reason<span class=\"_ _0\"></span>able and sup<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>table informatio<span class=\"_ _0\"></span>n, or wheth<span class=\"_ _0\"></span>er a single c<span class=\"_ _0\"></span>ontract c<span class=\"_ _0\"></span>ontains co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>s that ne<span class=\"_ _0\"></span>ed to be sep<span class=\"_ _0\"></span>arated an<span class=\"_ _0\"></span>d treated as if th<span class=\"_ _0\"></span>ey were stan<span class=\"_ _0\"></span>d-alone c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>Accou<span class=\"_ _0\"></span>nting treatm<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span>Separating components from insurance and re<span class=\"_ _2\"></span>insuranc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses i<span class=\"_ _0\"></span>ts insuran<span class=\"_ _0\"></span>ce produ<span class=\"_ _0\"></span>cts to deter<span class=\"_ _0\"></span>mine whethe<span class=\"_ _0\"></span>r they conta<span class=\"_ _0\"></span>in compon<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, which mus<span class=\"_ _0\"></span>t be acco<span class=\"_ _0\"></span>unted for under a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g st<span class=\"_ _0\"></span>andards othe<span class=\"_ _0\"></span>r than IFR<span class=\"_ _0\"></span>S 17 (<span class=\"_ _2\"></span>dis<span class=\"_ _0\"></span>tinct n<span class=\"_ _0\"></span>on-insuran<span class=\"_ _0\"></span>ce comp<span class=\"_ _0\"></span>onents).<span class=\"_ _3bd\"> </span>Where a<span class=\"_ _0\"></span>n insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t has a dis<span class=\"_ _0\"></span>tinct inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent and m<span class=\"_ _0\"></span>eets th<span class=\"_ _0\"></span>e separ<span class=\"_ _0\"></span>ation criteria e<span class=\"_ _0\"></span>stablis<span class=\"_ _0\"></span>hed unde<span class=\"_ _0\"></span>r IFRS 17<span class=\"_ _2\"></span>, the inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent is se<span class=\"_ _0\"></span>parated fro<span class=\"_ _0\"></span>m the hos<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>t and acc<span class=\"_ _0\"></span>ounted for unde<span class=\"_ _0\"></span>r IFRS 9. Th<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ssment of wh<span class=\"_ _0\"></span>ether a contr<span class=\"_ _0\"></span>act ha<span class=\"_ _0\"></span>s a distinc<span class=\"_ _0\"></span>t inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment comp<span class=\"_ _0\"></span>onent is c<span class=\"_ _0\"></span>arried out a<span class=\"_ _0\"></span>t inception of th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t, or the date of a<span class=\"_ _0\"></span>cquisition in th<span class=\"_ _0\"></span>e case of a bu<span class=\"_ _0\"></span>siness c<span class=\"_ _0\"></span>ombination<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>When a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing whet<span class=\"_ _0\"></span>her the inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent is dis<span class=\"_ _0\"></span>tinct<span class=\"_ _0\"></span>, the Group co<span class=\"_ _0\"></span>nsiders t<span class=\"_ _0\"></span>he following<span class=\"_ _0\"></span>, which may indic<span class=\"_ _0\"></span>ate that the in<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>nd investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>onent are high<span class=\"_ _0\"></span>ly interrelated:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the va<span class=\"_ _0\"></span>lue of one comp<span class=\"_ _0\"></span>onent varie<span class=\"_ _0\"></span>s with the other c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>exis<span class=\"_ _0\"></span>tence of an opti<span class=\"_ _0\"></span>on to switch bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he different c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nts;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>dis<span class=\"_ _0\"></span>counts th<span class=\"_ _0\"></span>at span both el<span class=\"_ _0\"></span>ements e<span class=\"_ _0\"></span>.g. a redu<span class=\"_ _0\"></span>ced as<span class=\"_ _0\"></span>set mana<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nt charge ba<span class=\"_ _0\"></span>sed on tota<span class=\"_ _0\"></span>l si<span class=\"_ _2\"></span>ze of contr<span class=\"_ _0\"></span>act; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r interactin<span class=\"_ _0\"></span>g features e.<span class=\"_ _0\"></span>g. insura<span class=\"_ _0\"></span>nce risk from p<span class=\"_ _0\"></span>remium waiver<span class=\"_ _0\"></span>s and return of prem<span class=\"_ _0\"></span>ium covering both e<span class=\"_ _0\"></span>lement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e policy.<span class=\"_ _3bd\"> </span>Afte<span class=\"_ _0\"></span>r separatin<span class=\"_ _0\"></span>g any distinc<span class=\"_ _0\"></span>t compo<span class=\"_ _0\"></span>nents<span class=\"_ _0\"></span>, the Group ap<span class=\"_ _0\"></span>plies the re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f I<span class=\"_ _0\"></span>FRS 17 to all remain<span class=\"_ _0\"></span>ing compo<span class=\"_ _0\"></span>nents of the in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t or whe<span class=\"_ _0\"></span>re distinc<span class=\"_ _0\"></span>t criteria are not m<span class=\"_ _0\"></span>et, the wh<span class=\"_ _0\"></span>ole contra<span class=\"_ _0\"></span>ct is acc<span class=\"_ _0\"></span>ounted for within I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Level of a<span class=\"_ _0\"></span>ggre<span class=\"_ _0\"></span>gatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is require<span class=\"_ _0\"></span>d to divide its bu<span class=\"_ _0\"></span>siness into g<span class=\"_ _0\"></span>roups for the purp<span class=\"_ _0\"></span>oses of rec<span class=\"_ _0\"></span>ognition a<span class=\"_ _0\"></span>nd meas<span class=\"_ _0\"></span>urement<span class=\"_ _0\"></span>. The Group\u2019s busine<span class=\"_ _0\"></span>ss is firs<span class=\"_ _0\"></span>tly split into por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s. Port<span class=\"_ _0\"></span>folios co<span class=\"_ _0\"></span>ntain groups of co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s with similar ris<span class=\"_ _0\"></span>ks, which a<span class=\"_ _0\"></span>re manag<span class=\"_ _0\"></span>ed togeth<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>. Por<span class=\"_ _0\"></span>tfolios are f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r divided ba<span class=\"_ _0\"></span>sed on exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d profita<span class=\"_ _0\"></span>bility at in<span class=\"_ _0\"></span>ception into thre<span class=\"_ _0\"></span>e categ<span class=\"_ _0\"></span>ories: one<span class=\"_ _0\"></span>rous contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at are profitable a<span class=\"_ _0\"></span>t initial reco<span class=\"_ _0\"></span>gnition an<span class=\"_ _0\"></span>d have no signific<span class=\"_ _0\"></span>ant risk of be<span class=\"_ _0\"></span>coming one<span class=\"_ _0\"></span>rous<span class=\"_ _0\"></span>, and the rema<span class=\"_ _0\"></span>ining profitab<span class=\"_ _0\"></span>le contrac<span class=\"_ _0\"></span>ts. For re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts the s<span class=\"_ _0\"></span>ame three g<span class=\"_ _0\"></span>roups would b<span class=\"_ _0\"></span>e identified w<span class=\"_ _0\"></span>ith \u2018<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>erous\u2019 bein<span class=\"_ _0\"></span>g replace<span class=\"_ _0\"></span>d with \u2018net gain\u2019 an<span class=\"_ _0\"></span>d \u2018<span class=\"_ _2\"></span>profit<span class=\"_ _0\"></span>able\u2019 bein<span class=\"_ _0\"></span>g replace<span class=\"_ _0\"></span>d with \u2018net cos<span class=\"_ _0\"></span>t\u2019<span class=\"_ _2\"></span>. Co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s which are is<span class=\"_ _0\"></span>sued more t<span class=\"_ _0\"></span>han one year ap<span class=\"_ _0\"></span>art are n<span class=\"_ _0\"></span>ot perm<span class=\"_ _0\"></span>itted to b<span class=\"_ _0\"></span>e include<span class=\"_ _0\"></span>d within the s<span class=\"_ _0\"></span>ame group. H<span class=\"_ _0\"></span>owever as perm<span class=\"_ _0\"></span>itted by I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, t<span class=\"_ _0\"></span>he groups of cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r which the<span class=\"_ gs47\"> </span>F<span class=\"_ _0\"></span>V<span class=\"_ _4\"></span>A ha<span class=\"_ _0\"></span>s been a<span class=\"_ _0\"></span>dopted on transition include contracts iss<span class=\"_ _0\"></span>ued more t<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span> one year apar<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has define<span class=\"_ _0\"></span>d por<span class=\"_ _0\"></span>tfolios of ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts is<span class=\"_ _0\"></span>sued bro<span class=\"_ _0\"></span>adly bas<span class=\"_ _0\"></span>ed on the pre<span class=\"_ _0\"></span>dominant ris<span class=\"_ _0\"></span>ks inherent in th<span class=\"_ _0\"></span>e produ<span class=\"_ _0\"></span>cts/<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, for exam<span class=\"_ _0\"></span>ple, long<span class=\"_ _0\"></span>evity, per<span class=\"_ _0\"></span>sisten<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty, and by cons<span class=\"_ _0\"></span>idering whe<span class=\"_ _0\"></span>ther group<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s are manag<span class=\"_ _0\"></span>ed toge<span class=\"_ _0\"></span>ther<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>ese por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s are furt<span class=\"_ _0\"></span>her split by le<span class=\"_ _0\"></span>gal entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, wi<span class=\"_ _0\"></span>th-profits f<span class=\"_ _0\"></span>und and contr<span class=\"_ _0\"></span>acts s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to different I<span class=\"_ _0\"></span>FRS 17 mea<span class=\"_ _0\"></span>surement m<span class=\"_ _0\"></span>odels are gro<span class=\"_ _0\"></span>uped sep<span class=\"_ _0\"></span>arately. The por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s are alloc<span class=\"_ _0\"></span>ated to cohor<span class=\"_ _0\"></span>ts b<span class=\"_ _0\"></span>ased on wh<span class=\"_ _0\"></span>ether they a<span class=\"_ _0\"></span>re onerous at in<span class=\"_ _0\"></span>ception or b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>eir expe<span class=\"_ _0\"></span>cted level of profita<span class=\"_ _0\"></span>bility us<span class=\"_ _0\"></span>ing information availa<span class=\"_ _0\"></span>ble at incepti<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>For reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held, p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folios are bas<span class=\"_ _0\"></span>ed upon sim<span class=\"_ _0\"></span>ilar risks to thos<span class=\"_ _0\"></span>e of the underl<span class=\"_ _0\"></span>ying contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. The reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held are as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed for agg<span class=\"_ _0\"></span>regation re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s on an individ<span class=\"_ _0\"></span>ual contra<span class=\"_ _0\"></span>ct basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The gro<span class=\"_ _0\"></span>uping of the insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s is determine<span class=\"_ _0\"></span>d at initial rec<span class=\"_ _0\"></span>ognition a<span class=\"_ _0\"></span>nd is not subs<span class=\"_ _0\"></span>equently re<span class=\"_ _0\"></span>asse<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d. Therefore<span class=\"_ _0\"></span>, a contrac<span class=\"_ _0\"></span>t will remain within th<span class=\"_ _0\"></span>e assign<span class=\"_ _0\"></span>ed agg<span class=\"_ _0\"></span>regation g<span class=\"_ _0\"></span>roup until it is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed, eith<span class=\"_ _0\"></span>er by expir<span class=\"_ _0\"></span>y or modific<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span>Recognitio<span class=\"_ _2\"></span>n<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up recog<span class=\"_ _0\"></span>nises gro<span class=\"_ _0\"></span>ups of insuran<span class=\"_ _0\"></span>ce contrac<span class=\"_ _0\"></span>ts that i<span class=\"_ _0\"></span>t issues f<span class=\"_ _0\"></span>rom the earlie<span class=\"_ _0\"></span>st of the following<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e period of the g<span class=\"_ _0\"></span>roup of contra<span class=\"_ _0\"></span>cts; \u2022 <span class=\"_ _19\"> </span>the d<span class=\"_ _0\"></span>ate when the fir<span class=\"_ _0\"></span>st payment f<span class=\"_ _0\"></span>rom the polic<span class=\"_ _0\"></span>yholder in th<span class=\"_ _0\"></span>e group is due or a<span class=\"_ _0\"></span>ctually re<span class=\"_ _0\"></span>ceived if t<span class=\"_ _0\"></span>here is no due d<span class=\"_ _0\"></span>ate; or<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>for a gro<span class=\"_ _0\"></span>up of onerous c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, as s<span class=\"_ _0\"></span>oon as fac<span class=\"_ _0\"></span>ts and c<span class=\"_ _0\"></span>ircumsta<span class=\"_ _0\"></span>nces indi<span class=\"_ _0\"></span>cate that the g<span class=\"_ _0\"></span>roup is onero<span class=\"_ _0\"></span>us.<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>th DPF are initiall<span class=\"_ _0\"></span>y recog<span class=\"_ _0\"></span>nised at th<span class=\"_ _0\"></span>e date when the G<span class=\"_ _0\"></span>roup bec<span class=\"_ _0\"></span>omes a par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combinat<span class=\"_ _0\"></span>ion within the sc<span class=\"_ _0\"></span>ope of IFRS 3 B<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s Combina<span class=\"_ _0\"></span>tions or a por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer a<span class=\"_ _0\"></span>re accounte<span class=\"_ _0\"></span>d for as if the<span class=\"_ _0\"></span>y w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>re entered into at the d<span class=\"_ _0\"></span>ate of acquisitio<span class=\"_ _0\"></span>n or transfe<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed from the e<span class=\"_ _0\"></span>arliest of the fo<span class=\"_ _0\"></span>llowing:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e period of the g<span class=\"_ _0\"></span>roup of reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld. However, the Group d<span class=\"_ _0\"></span>elays the rec<span class=\"_ _0\"></span>ognition of a g<span class=\"_ _0\"></span>roup of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held that p<span class=\"_ _0\"></span>rovide propor<span class=\"_ _0\"></span>tionate c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage (for exampl<span class=\"_ _0\"></span>e, through a q<span class=\"_ _0\"></span>uota share arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent) until the da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e w<span class=\"_ _0\"></span>hen any under<span class=\"_ _0\"></span>lying insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act is initi<span class=\"_ _0\"></span>ally reco<span class=\"_ _0\"></span>gnised<span class=\"_ _0\"></span>, if that date is later t<span class=\"_ _0\"></span>han the be<span class=\"_ _0\"></span>ginning of the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage pe<span class=\"_ _0\"></span>riod of the gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s held; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the d<span class=\"_ _0\"></span>ate the Group rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>es an onero<span class=\"_ _0\"></span>us group of underl<span class=\"_ _0\"></span>ying insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts if th<span class=\"_ _0\"></span>e Group entere<span class=\"_ _0\"></span>d into the related re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t held in t<span class=\"_ _0\"></span>he group of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held at or b<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>re that date.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up adds new c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts to the group in t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting per<span class=\"_ _0\"></span>iod in which tha<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>t meet<span class=\"_ _0\"></span>s one of the criteri<span class=\"_ _0\"></span>a set out ab<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve.<span class=\"_ _3bd\"> </span>Contract bound<span class=\"_ _2\"></span>aries<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up include<span class=\"_ _0\"></span>s in the mea<span class=\"_ _0\"></span>surement of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts all the fut<span class=\"_ _0\"></span>ure cash fl<span class=\"_ _0\"></span>ows within the bo<span class=\"_ _0\"></span>undar<span class=\"_ _0\"></span>y of each co<span class=\"_ _0\"></span>ntract in th<span class=\"_ _0\"></span>e group. C<span class=\"_ _0\"></span>ash flows are w<span class=\"_ _0\"></span>ithin the boun<span class=\"_ _0\"></span>dary of an in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t if they arise fro<span class=\"_ _0\"></span>m the rights a<span class=\"_ _0\"></span>nd obligati<span class=\"_ _0\"></span>ons that exis<span class=\"_ _0\"></span>t during the p<span class=\"_ _0\"></span>eriod in which th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older is oblig<span class=\"_ _0\"></span>ated to pay prem<span class=\"_ _0\"></span>iums or the Gro<span class=\"_ _0\"></span>up has a subs<span class=\"_ _0\"></span>tantive oblig<span class=\"_ _0\"></span>ation to provide the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der with insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. A subs<span class=\"_ _0\"></span>tantive oblig<span class=\"_ _0\"></span>ation to provide ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es ends wh<span class=\"_ _0\"></span>en:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has the p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>al abilit<span class=\"_ _0\"></span>y to reprice th<span class=\"_ _0\"></span>e risks of the par<span class=\"_ _0\"></span>ticular p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der or chan<span class=\"_ _0\"></span>ge the level of be<span class=\"_ _0\"></span>nefits s<span class=\"_ _0\"></span>o that the pric<span class=\"_ _0\"></span>e fully refle<span class=\"_ _0\"></span>cts tho<span class=\"_ _0\"></span>se risks; or \u2022 <span class=\"_ _19\"> </span>both of th<span class=\"_ _0\"></span>e following criter<span class=\"_ _0\"></span>ia are satisfi<span class=\"_ _0\"></span>ed:<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>the Gro<span class=\"_ _0\"></span>up has the pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>al ability to re<span class=\"_ _0\"></span>price the c<span class=\"_ _0\"></span>ontract o<span class=\"_ _0\"></span>r a port<span class=\"_ _0\"></span>folio of contra<span class=\"_ _0\"></span>cts s<span class=\"_ _0\"></span>o that the pric<span class=\"_ _0\"></span>e fully reflec<span class=\"_ _0\"></span>ts the re<span class=\"_ _0\"></span>asses<span class=\"_ _0\"></span>sed ri<span class=\"_ _0\"></span>sk of<span class=\"_ gs47\"> </span>that por<span class=\"_ _0\"></span>tfolio; a<span class=\"_ _0\"></span>nd \u2013 <span class=\"_ _29\"> </span>the pric<span class=\"_ _0\"></span>ing of premiums up to th<span class=\"_ _0\"></span>e date when risks a<span class=\"_ _0\"></span>re reass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d does not refl<span class=\"_ _0\"></span>ect the r<span class=\"_ _0\"></span>isks related to p<span class=\"_ _0\"></span>eriods beyo<span class=\"_ _0\"></span>nd the reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment date.<span class=\"_ _3bd\"> </span>Where a<span class=\"_ _0\"></span>n expec<span class=\"_ _0\"></span>ted premium or e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted claim is not w<span class=\"_ _0\"></span>ithin the contr<span class=\"_ _0\"></span>act boun<span class=\"_ _0\"></span>dar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, it is not re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a ca<span class=\"_ _0\"></span>sh flow of the contr<span class=\"_ _0\"></span>act an<span class=\"_ _0\"></span>d is<span class=\"_ gs47\"> </span>ins<span class=\"_ _0\"></span>tead con<span class=\"_ _0\"></span>sidered to rel<span class=\"_ _0\"></span>ate to a future insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act and re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised whe<span class=\"_ _0\"></span>n those co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s meet the re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion criteria<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>ontract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date to inc<span class=\"_ _0\"></span>lude the ef<span class=\"_ _0\"></span>fect of cha<span class=\"_ _0\"></span>nges in circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces on the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s sub<span class=\"_ _0\"></span>stantive rig<span class=\"_ _0\"></span>hts and ob<span class=\"_ _0\"></span>ligations an<span class=\"_ _0\"></span>d, therefore<span class=\"_ _0\"></span>, may chang<span class=\"_ _0\"></span>e over time.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>ontract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y for a reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract is de<span class=\"_ _0\"></span>pende<span class=\"_ _0\"></span>nt on the terms an<span class=\"_ _0\"></span>d condition<span class=\"_ _0\"></span>s of the reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act and t<span class=\"_ _0\"></span>herefore may not nec<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>arily be the s<span class=\"_ _0\"></span>ame as for the un<span class=\"_ _0\"></span>derlying c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. Wh<span class=\"_ _0\"></span>ere the reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract is op<span class=\"_ _0\"></span>en to new bus<span class=\"_ _0\"></span>iness on a<span class=\"_ _0\"></span>greed te<span class=\"_ _0\"></span>rms for a perio<span class=\"_ _0\"></span>d of time, t<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>t bound<span class=\"_ _0\"></span>ary m<span class=\"_ _0\"></span>ay include es<span class=\"_ _0\"></span>timates of reins<span class=\"_ _0\"></span>urance on in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts that h<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ve n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t yet b<span class=\"_ _0\"></span>een is<span class=\"_ _0\"></span>sued or rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Measuremen<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d without dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatio<span class=\"_ _0\"></span>n features are gro<span class=\"_ _0\"></span>uped tog<span class=\"_ _0\"></span>ether und<span class=\"_ _0\"></span>er annuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, prote<span class=\"_ _0\"></span>ction an<span class=\"_ _0\"></span>d other non-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>enera<span class=\"_ _0\"></span>l Model (<span class=\"_ _0\"></span>\u2018GM<span class=\"_ _0\"></span>\u2019). Direc<span class=\"_ _0\"></span>t par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s issu<span class=\"_ _0\"></span>ed by the Group a<span class=\"_ _0\"></span>re contrac<span class=\"_ _0\"></span>ts with DP<span class=\"_ _0\"></span>F where the Gro<span class=\"_ _0\"></span>up holds the p<span class=\"_ _0\"></span>ool of underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets. D<span class=\"_ _0\"></span>irect par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are gro<span class=\"_ _0\"></span>uped tog<span class=\"_ _0\"></span>ether and re<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d primarily a<span class=\"_ _0\"></span>s either unit-linked or w<span class=\"_ _0\"></span>ith-profits b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s althoug<span class=\"_ _0\"></span>h some protec<span class=\"_ _0\"></span>tion contra<span class=\"_ _0\"></span>cts are c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to have direct p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ation feature<span class=\"_ _0\"></span>s. Thes<span class=\"_ _0\"></span>e groups of contr<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d using the va<span class=\"_ _0\"></span>riable fee appro<span class=\"_ _0\"></span>ach (\u2018<span class=\"_ _0\"></span>VF<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>), unles<span class=\"_ _0\"></span>s they fail the eli<span class=\"_ _0\"></span>gibility te<span class=\"_ _0\"></span>st to be trea<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under this a<span class=\"_ _0\"></span>pproach<span class=\"_ _0\"></span>, in such circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces they are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>M. Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der the GM irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the mea<span class=\"_ _0\"></span>surement m<span class=\"_ _0\"></span>odel use<span class=\"_ _0\"></span>d for the under<span class=\"_ _0\"></span>lying contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. Cer<span class=\"_ _0\"></span>tain with-p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>ts funds wi<span class=\"_ _0\"></span>thin the Group h<span class=\"_ _0\"></span>old non-profit in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s such as an<span class=\"_ _0\"></span>nuities<span class=\"_ _0\"></span>. This busine<span class=\"_ _0\"></span>ss will als<span class=\"_ _0\"></span>o be meas<span class=\"_ _0\"></span>ured under th<span class=\"_ _0\"></span>e GM.<span class=\"_ _3bd\"> </span>Initial measurement<span class=\"_ _2\"></span> \u2013 Insurance contracts<span class=\"_ _3bd\"> </span>On initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition, th<span class=\"_ _0\"></span>e Group mea<span class=\"_ _0\"></span>sures a group of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s as the total of (a) the ful<span class=\"_ _0\"></span>filment cas<span class=\"_ _0\"></span>h flows and a risk a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tment for non-<span class=\"_ _0\"></span>financial r<span class=\"_ _0\"></span>isk; and (<span class=\"_ _0\"></span>b<span class=\"_ _2\"></span>) th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>tual ser<span class=\"_ _0\"></span>vice m<span class=\"_ _0\"></span>argin (\u2018C<span class=\"_ _0\"></span>SM\u2019<span class=\"_ _0\"></span>). The fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows of a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts do n<span class=\"_ _0\"></span>ot reflec<span class=\"_ _0\"></span>t the Group\u2019s non-p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance risk<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows comp<span class=\"_ _0\"></span>rise:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>unbia<span class=\"_ _0\"></span>sed and p<span class=\"_ _0\"></span>robabilit<span class=\"_ _0\"></span>y-weig<span class=\"_ _0\"></span>hted estim<span class=\"_ _0\"></span>ates of future c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t are within the co<span class=\"_ _0\"></span>ntract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y plus an ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent to reflec<span class=\"_ _0\"></span>t the time value of mo<span class=\"_ _0\"></span>ney and the fin<span class=\"_ _0\"></span>ancial ris<span class=\"_ _0\"></span>ks related to fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s, to the ex<span class=\"_ _0\"></span>tent that th<span class=\"_ _0\"></span>e financial ri<span class=\"_ _0\"></span>sks are not inclu<span class=\"_ _0\"></span>ded in the es<span class=\"_ _0\"></span>timates of fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh flows (\u2018<span class=\"_ _0\"></span>BEL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a risk a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tment for non-<span class=\"_ _0\"></span>financial r<span class=\"_ _0\"></span>isk.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of fulfilment c<span class=\"_ _0\"></span>ash flows inc<span class=\"_ _0\"></span>ludes insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows whic<span class=\"_ _0\"></span>h are alloca<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d as a por<span class=\"_ _0\"></span>tion of premium to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss (through in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue) over the pe<span class=\"_ _0\"></span>riod of the contr<span class=\"_ _0\"></span>act in a sys<span class=\"_ _0\"></span>tematic an<span class=\"_ _0\"></span>d rational way b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e pass<span class=\"_ _0\"></span>age of time.<span class=\"_ _3bd\"> </span>The ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for non<span class=\"_ _0\"></span>-financi<span class=\"_ _0\"></span>al risk for a group of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, dete<span class=\"_ _0\"></span>rmined se<span class=\"_ _0\"></span>parately fro<span class=\"_ _0\"></span>m the other es<span class=\"_ _0\"></span>timates<span class=\"_ _0\"></span>, is the com<span class=\"_ _0\"></span>pensat<span class=\"_ _0\"></span>ion require<span class=\"_ _0\"></span>d for bearin<span class=\"_ _0\"></span>g uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y about th<span class=\"_ _0\"></span>e amount an<span class=\"_ _0\"></span>d timing of the ca<span class=\"_ _0\"></span>sh flows that ar<span class=\"_ _0\"></span>ises from no<span class=\"_ _0\"></span>n-financi<span class=\"_ _0\"></span>al risk. Th<span class=\"_ _0\"></span>e Group applie<span class=\"_ _0\"></span>s a confid<span class=\"_ _0\"></span>ence level te<span class=\"_ _0\"></span>chnique. T<span class=\"_ _0\"></span>he risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt is alloca<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to groups of contr<span class=\"_ _0\"></span>acts b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n an analysis of th<span class=\"_ _0\"></span>e risk profiles of the g<span class=\"_ _0\"></span>roups, refle<span class=\"_ _0\"></span>cting the ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of the diversific<span class=\"_ _0\"></span>ation be<span class=\"_ _0\"></span>nefits be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n Group entitie<span class=\"_ _0\"></span>s to the extent t<span class=\"_ _0\"></span>hat the Group in<span class=\"_ _0\"></span>cludes it w<span class=\"_ _0\"></span>hen determinin<span class=\"_ _0\"></span>g the comp<span class=\"_ _0\"></span>ensatio<span class=\"_ _0\"></span>n required to b<span class=\"_ _0\"></span>ear that ris<span class=\"_ _0\"></span>k. The Gro<span class=\"_ _0\"></span>up includes d<span class=\"_ _0\"></span>iversifica<span class=\"_ _0\"></span>tion bet<span class=\"_ _0\"></span>ween Gro<span class=\"_ _0\"></span>up entities whic<span class=\"_ _0\"></span>h use the Group I<span class=\"_ _0\"></span>nternal Mo<span class=\"_ _0\"></span>del for man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt decision<span class=\"_ _0\"></span>-making<span class=\"_ _0\"></span>. Where a Stan<span class=\"_ _0\"></span>dard Formula a<span class=\"_ _0\"></span>pproach is us<span class=\"_ _0\"></span>ed, no d<span class=\"_ _0\"></span>iversific<span class=\"_ _0\"></span>ation with other e<span class=\"_ _0\"></span>ntities within th<span class=\"_ _0\"></span>e Group is allowe<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. The Gro<span class=\"_ _0\"></span>up determine<span class=\"_ _0\"></span>s the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt using a one<span class=\"_ _0\"></span>-year time h<span class=\"_ _0\"></span>oriz<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>n, consi<span class=\"_ _0\"></span>stent with the t<span class=\"_ _0\"></span>ime horizon use<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r Solvenc<span class=\"_ _0\"></span>y II, a<span class=\"_ gs47\"> </span>key metr<span class=\"_ _0\"></span>ic under<span class=\"_ _0\"></span>lying how the G<span class=\"_ _0\"></span>roup is mana<span class=\"_ _0\"></span>ged.<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>SM of a group of insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s represe<span class=\"_ _0\"></span>nts the une<span class=\"_ _0\"></span>arned profit th<span class=\"_ _0\"></span>at the Group will re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>se over the life of the contr<span class=\"_ _0\"></span>act as in<span class=\"_ _0\"></span>surance and inves<span class=\"_ _0\"></span>tment-relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are provi<span class=\"_ _0\"></span>ded. For profit<span class=\"_ _0\"></span>able groups of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts the CS<span class=\"_ _0\"></span>M is est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>nsure that n<span class=\"_ _0\"></span>o profit or loss is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at inceptio<span class=\"_ _0\"></span>n and cons<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y it offse<span class=\"_ _0\"></span>ts the net p<span class=\"_ _0\"></span>resent value of th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted cas<span class=\"_ _0\"></span>h flows (includin<span class=\"_ _0\"></span>g initial prem<span class=\"_ _0\"></span>ium and insura<span class=\"_ _0\"></span>nce acq<span class=\"_ _0\"></span>uisition ca<span class=\"_ _0\"></span>sh flows) and the ri<span class=\"_ _0\"></span>sk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r a group of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at are onerou<span class=\"_ _0\"></span>s, the CS<span class=\"_ _0\"></span>M is set to nil an<span class=\"_ _0\"></span>d a loss is imm<span class=\"_ _0\"></span>ediately rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in profit or los<span class=\"_ _0\"></span>s. A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent of the liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e (\u2018LRC<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) is esta<span class=\"_ _0\"></span>blished for th<span class=\"_ _0\"></span>e amount of<span class=\"_ gs47\"> </span>los<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised. The init<span class=\"_ _0\"></span>ial reco<span class=\"_ _0\"></span>gnition of the CS<span class=\"_ _0\"></span>M is cons<span class=\"_ _0\"></span>istent for insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s applying th<span class=\"_ _0\"></span>e GM and VF<span class=\"_ _2\"></span>A m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent approa<span class=\"_ _0\"></span>ches<span class=\"_ _0\"></span>, however there a<span class=\"_ _0\"></span>re key differen<span class=\"_ _0\"></span>ces for subs<span class=\"_ _0\"></span>equent m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of the CS<span class=\"_ _0\"></span>M under the<span class=\"_ _0\"></span>se meas<span class=\"_ _0\"></span>urement mo<span class=\"_ _0\"></span>dels. For group<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d in a transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s or a busin<span class=\"_ _0\"></span>ess com<span class=\"_ _0\"></span>bination, t<span class=\"_ _0\"></span>he consid<span class=\"_ _0\"></span>eration rec<span class=\"_ _0\"></span>eived for the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts is inclu<span class=\"_ _0\"></span>ded in the fulfi<span class=\"_ _0\"></span>lment cas<span class=\"_ _0\"></span>h flows as a prox<span class=\"_ _0\"></span>y for the premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d at the date of acq<span class=\"_ _0\"></span>uisition. In a b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinati<span class=\"_ _0\"></span>on, the co<span class=\"_ _0\"></span>nsiderat<span class=\"_ _0\"></span>ion receive<span class=\"_ _0\"></span>d is the fair va<span class=\"_ _0\"></span>lue of the contra<span class=\"_ _0\"></span>cts at th<span class=\"_ _0\"></span>at date.<span class=\"_ _3bd\"> </span>With-profits es<span class=\"_ _0\"></span>tate<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has a numb<span class=\"_ _0\"></span>er of with-profit<span class=\"_ _0\"></span>s funds whe<span class=\"_ _0\"></span>re surpluse<span class=\"_ _0\"></span>s are share<span class=\"_ _0\"></span>d betwe<span class=\"_ _0\"></span>en polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. All such f<span class=\"_ _0\"></span>unds are clo<span class=\"_ _0\"></span>sed to new bu<span class=\"_ _0\"></span>siness<span class=\"_ _0\"></span>. Thes<span class=\"_ _0\"></span>e funds t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y have an esta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>, being a sur<span class=\"_ _0\"></span>plus of asse<span class=\"_ _0\"></span>ts over thos<span class=\"_ _0\"></span>e neede<span class=\"_ _0\"></span>d to meet th<span class=\"_ _0\"></span>e liabilities of curre<span class=\"_ _0\"></span>nt policyh<span class=\"_ _0\"></span>olders<span class=\"_ _0\"></span>. As thes<span class=\"_ _0\"></span>e funds are cl<span class=\"_ _0\"></span>osed to new b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus is expe<span class=\"_ _0\"></span>cted to b<span class=\"_ _0\"></span>e distribute<span class=\"_ _0\"></span>d to existin<span class=\"_ _0\"></span>g policyho<span class=\"_ _0\"></span>lders over tim<span class=\"_ _0\"></span>e and the Gro<span class=\"_ _0\"></span>up has determin<span class=\"_ _0\"></span>ed it appro<span class=\"_ _0\"></span>priate to alloc<span class=\"_ _0\"></span>ate the expe<span class=\"_ _0\"></span>cted fut<span class=\"_ _0\"></span>ure policyh<span class=\"_ _0\"></span>older paym<span class=\"_ _0\"></span>ents from the e<span class=\"_ _0\"></span>state to sp<span class=\"_ _0\"></span>ecific gro<span class=\"_ _0\"></span>ups of contrac<span class=\"_ _0\"></span>ts within the mea<span class=\"_ _0\"></span>surement of th<span class=\"_ _0\"></span>e best e<span class=\"_ _0\"></span>stimate ca<span class=\"_ _0\"></span>sh flows.<span class=\"_ _3bd\"> </span>Subsequent measurement \u2013 Insurance con<span class=\"_ _2\"></span>tra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts at eac<span class=\"_ _0\"></span>h repor<span class=\"_ _0\"></span>ting date is the s<span class=\"_ _0\"></span>um o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e LRC and the lia<span class=\"_ _0\"></span>bility for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims (\u2018<span class=\"_ _0\"></span>LIC\u2019<span class=\"_ _0\"></span>). The LRC c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the BEL, r<span class=\"_ _0\"></span>isk adjus<span class=\"_ _0\"></span>tment an<span class=\"_ _0\"></span>d any remaining C<span class=\"_ _0\"></span>SM at that d<span class=\"_ _0\"></span>ate. The LIC inc<span class=\"_ _0\"></span>ludes the B<span class=\"_ _0\"></span>EL and risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent (the fulfilment ca<span class=\"_ _0\"></span>sh flows for incur<span class=\"_ _0\"></span>red claims an<span class=\"_ _0\"></span>d expens<span class=\"_ _0\"></span>es that have not yet b<span class=\"_ _0\"></span>een pai<span class=\"_ _0\"></span>d, includin<span class=\"_ _0\"></span>g claims tha<span class=\"_ _0\"></span>t have been in<span class=\"_ _0\"></span>curred but n<span class=\"_ _0\"></span>ot yet repor<span class=\"_ _0\"></span>ted). There is no CS<span class=\"_ _0\"></span>M ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th the LIC, a<span class=\"_ _0\"></span>nd as a result<span class=\"_ _0\"></span>, any chang<span class=\"_ _0\"></span>es in the LIC a<span class=\"_ _0\"></span>re tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n directly to p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows of groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at the rep<span class=\"_ _0\"></span>ortin<span class=\"_ _0\"></span>g date using curre<span class=\"_ _0\"></span>nt estimate<span class=\"_ _0\"></span>s of future ca<span class=\"_ _0\"></span>sh flows, c<span class=\"_ _0\"></span>urrent disc<span class=\"_ _0\"></span>ount rates and c<span class=\"_ _0\"></span>urrent est<span class=\"_ _0\"></span>imates of the risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment for non-<span class=\"_ _0\"></span>financial ri<span class=\"_ _0\"></span>sk. Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s follows.<span class=\"_ _3bd\"> </span>Cha<span class=\"_ _0\"></span>nges re<span class=\"_ _0\"></span>lating to f<span class=\"_ _0\"></span>uture ins<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices<span class=\"_ _1a6\"> </span><span class=\"ff2\">Adj<span class=\"_ _0\"></span>usted a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he CSM (or re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result </span>in profit or lo<span class=\"_ _0\"></span>ss if the gro<span class=\"_ _0\"></span>up is onerous)<span class=\"_ _3bd\"> </span>Cha<span class=\"_ _0\"></span>nges re<span class=\"_ _0\"></span>lating to c<span class=\"_ _0\"></span>urrent or p<span class=\"_ _0\"></span>ast se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es<span class=\"_ _188\"> </span><span class=\"ff2\">Reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice res<span class=\"_ _0\"></span>ult in profit or los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></span>Effe<span class=\"_ _0\"></span>cts of th<span class=\"_ _0\"></span>e time valu<span class=\"_ _0\"></span>e of money, finan<span class=\"_ _0\"></span>cial ris<span class=\"_ _0\"></span>k and ch<span class=\"_ _0\"></span>anges<span class=\"_ _159\"> </span><span class=\"ff2\">Re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in insura<span class=\"_ _0\"></span>nce finan<span class=\"_ _0\"></span>ce incom<span class=\"_ _0\"></span>e or expens<span class=\"_ _0\"></span>es therein o<span class=\"_ _0\"></span>n </span>es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Where<span class=\"_ _0\"></span>, during the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage pe<span class=\"_ _0\"></span>riod, a gro<span class=\"_ _0\"></span>up of insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts be<span class=\"_ _0\"></span>comes on<span class=\"_ _0\"></span>erous<span class=\"_ _0\"></span>, the Group re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es a loss in profi<span class=\"_ _0\"></span>t or loss for th<span class=\"_ _0\"></span>e net out<span class=\"_ _0\"></span>flow, resultin<span class=\"_ _0\"></span>g in the carr<span class=\"_ _0\"></span>ying am<span class=\"_ _0\"></span>ount of the liabilit<span class=\"_ _0\"></span>y for the group b<span class=\"_ _0\"></span>eing eq<span class=\"_ _0\"></span>ual to the fulfilme<span class=\"_ _0\"></span>nt cash flow<span class=\"_ _0\"></span>s. A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d by the Gro<span class=\"_ _0\"></span>up for the liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e for such gro<span class=\"_ _0\"></span>ups of onerous c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s represe<span class=\"_ _0\"></span>nting the los<span class=\"_ _0\"></span>ses re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed. The b<span class=\"_ _0\"></span>alance on th<span class=\"_ _0\"></span>e CSM at th<span class=\"_ _0\"></span>e end of the pe<span class=\"_ _0\"></span>riod is available fo<span class=\"_ _0\"></span>r release to p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>. The amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>SM rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in insuran<span class=\"_ _0\"></span>ce revenue eac<span class=\"_ _0\"></span>h period (the C<span class=\"_ _0\"></span>SM amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion) is determine<span class=\"_ _0\"></span>d by conside<span class=\"_ _0\"></span>ring, for e<span class=\"_ _0\"></span>ach group of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, cover<span class=\"_ _0\"></span>age unit<span class=\"_ _0\"></span>s that reflec<span class=\"_ _0\"></span>t the quantit<span class=\"_ _0\"></span>y of the ben<span class=\"_ _0\"></span>efits provide<span class=\"_ _0\"></span>d in each p<span class=\"_ _0\"></span>eriod and th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted covera<span class=\"_ _0\"></span>ge perio<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Ben<span class=\"_ _0\"></span>efits provide<span class=\"_ _0\"></span>d include<span class=\"_ _0\"></span>d those ar<span class=\"_ _0\"></span>ising from both in<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>nd investme<span class=\"_ _0\"></span>nt related se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es. Inves<span class=\"_ _0\"></span>tment rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are on<span class=\"_ _0\"></span>ly include<span class=\"_ _0\"></span>d if the Gro<span class=\"_ _0\"></span>up is deem<span class=\"_ _0\"></span>ed to be providin<span class=\"_ _0\"></span>g a significant inve<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e when providin<span class=\"_ _0\"></span>g an inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt, or polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s right to withdr<span class=\"_ _0\"></span>aw<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>at is expe<span class=\"_ _0\"></span>cted to incl<span class=\"_ _0\"></span>ude an investm<span class=\"_ _0\"></span>ent return ge<span class=\"_ _0\"></span>nerated by inves<span class=\"_ _0\"></span>tment ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y perfo<span class=\"_ _0\"></span>rmed by the G<span class=\"_ _0\"></span>roup. This incl<span class=\"_ _0\"></span>udes contr<span class=\"_ _0\"></span>acts where t<span class=\"_ _0\"></span>he value of the inves<span class=\"_ _0\"></span>tment return th<span class=\"_ _0\"></span>at the polic<span class=\"_ _0\"></span>yholder b<span class=\"_ _0\"></span>enefits f<span class=\"_ _0\"></span>rom is not direc<span class=\"_ _0\"></span>tly related to th<span class=\"_ _0\"></span>e value of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>. Cover<span class=\"_ _0\"></span>age units a<span class=\"_ _0\"></span>re discounte<span class=\"_ _0\"></span>d and are update<span class=\"_ _0\"></span>d at each re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing date to reflec<span class=\"_ _0\"></span>t the current b<span class=\"_ _0\"></span>est es<span class=\"_ _0\"></span>timate of ser<span class=\"_ _0\"></span>vice exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>e provided in future p<span class=\"_ _0\"></span>eriods<span class=\"_ _0\"></span>. Covera<span class=\"_ _0\"></span>ge units for rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts held a<span class=\"_ _0\"></span>re typic<span class=\"_ _0\"></span>ally cons<span class=\"_ _0\"></span>istent with th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g gross co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, adj<span class=\"_ _0\"></span>usted for diffe<span class=\"_ _0\"></span>rences in th<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices provid<span class=\"_ _0\"></span>ed.<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>SM of each g<span class=\"_ _0\"></span>roup of contrac<span class=\"_ _0\"></span>ts is c<span class=\"_ _0\"></span>alculated at e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting d<span class=\"_ _0\"></span>ate as follows:<span class=\"_ _3bd\"> </span>Insurance contracts measured under GM<span class=\"_ _3bd\"> </span>For insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>M approac<span class=\"_ _0\"></span>h, the CS<span class=\"_ _0\"></span>M is adj<span class=\"_ _0\"></span>usted by app<span class=\"_ _0\"></span>lying locked-in di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>s, while th<span class=\"_ _0\"></span>e BEL and risk adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nt are adjus<span class=\"_ _0\"></span>ted using c<span class=\"_ _0\"></span>urrent disco<span class=\"_ _0\"></span>unt rates.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of the C<span class=\"_ _0\"></span>SM at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amount a<span class=\"_ _0\"></span>t the star<span class=\"_ _0\"></span>t of the year, adjus<span class=\"_ _0\"></span>ted for<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the C<span class=\"_ _0\"></span>SM of any new co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s that are add<span class=\"_ _0\"></span>ed to the group in t<span class=\"_ _0\"></span>he year;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>intere<span class=\"_ _0\"></span>st accre<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d on the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g amount of the CS<span class=\"_ _0\"></span>M during the ye<span class=\"_ _0\"></span>ar;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows that rel<span class=\"_ _0\"></span>ate to future ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, except to th<span class=\"_ _0\"></span>e extent th<span class=\"_ _0\"></span>at:<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>any incre<span class=\"_ _0\"></span>ases in the f<span class=\"_ _0\"></span>ulfilment ca<span class=\"_ _0\"></span>sh flows exce<span class=\"_ _0\"></span>ed the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g amount of the CS<span class=\"_ _0\"></span>M, in w<span class=\"_ _0\"></span>hich cas<span class=\"_ _0\"></span>e the exces<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised as a l<span class=\"_ _0\"></span>oss in profit or los<span class=\"_ _0\"></span>s and create<span class=\"_ _0\"></span>s a loss com<span class=\"_ _0\"></span>ponent<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>any dec<span class=\"_ _0\"></span>reases in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows are all<span class=\"_ _0\"></span>ocated to th<span class=\"_ _0\"></span>e loss co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>, reversing l<span class=\"_ _0\"></span>osses p<span class=\"_ _0\"></span>reviously re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in profit or lo<span class=\"_ _0\"></span>ss;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of any c<span class=\"_ _0\"></span>urrency exch<span class=\"_ _0\"></span>ange dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on the CS<span class=\"_ _0\"></span>M; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce revenue b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e of the ser<span class=\"_ _0\"></span>vices p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ded in the year (s<span class=\"_ _0\"></span>ee the \u2018<span class=\"_ _0\"></span>Insuran<span class=\"_ _0\"></span>ce revenue\u2019 a<span class=\"_ _0\"></span>ccounting p<span class=\"_ _0\"></span>olicy in note C1 for f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r details).<span class=\"_ _3bd\"> </span>Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows relating to fu<span class=\"_ _0\"></span>ture ser<span class=\"_ _0\"></span>vice that a<span class=\"_ _0\"></span>djust t<span class=\"_ _0\"></span>he CSM c<span class=\"_ _0\"></span>omprise:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>exp<span class=\"_ _0\"></span>erienc<span class=\"_ _0\"></span>e adjus<span class=\"_ _0\"></span>tments ar<span class=\"_ _0\"></span>ising from the dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d and the exp<span class=\"_ _0\"></span>ected a<span class=\"_ _0\"></span>mounts e<span class=\"_ _0\"></span>stimated at t<span class=\"_ _0\"></span>he begin<span class=\"_ _0\"></span>ning of the peri<span class=\"_ _0\"></span>od, that re<span class=\"_ _0\"></span>late to future se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>, along with any a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ated acqui<span class=\"_ _0\"></span>sition cos<span class=\"_ _0\"></span>ts;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in e<span class=\"_ _0\"></span>stimates of th<span class=\"_ _0\"></span>e present val<span class=\"_ _0\"></span>ue of future ca<span class=\"_ _0\"></span>sh flows in the BEL a<span class=\"_ _0\"></span>nd risk adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s betwe<span class=\"_ _0\"></span>en any investm<span class=\"_ _0\"></span>ent compo<span class=\"_ _0\"></span>nent expe<span class=\"_ _0\"></span>cted to be<span class=\"_ _0\"></span>come p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ya<span class=\"_ _0\"></span>ble in the per<span class=\"_ _0\"></span>iod and the a<span class=\"_ _0\"></span>ctual inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mponent th<span class=\"_ _0\"></span>at becom<span class=\"_ _0\"></span>es pay<span class=\"_ _2\"></span>able; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk tha<span class=\"_ _0\"></span>t relate to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>The imp<span class=\"_ _0\"></span>act of disc<span class=\"_ _0\"></span>ounting the ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for bus<span class=\"_ _0\"></span>iness m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der GM is dis<span class=\"_ _0\"></span>aggre<span class=\"_ _0\"></span>gated an<span class=\"_ _0\"></span>d recogn<span class=\"_ _0\"></span>ised within N<span class=\"_ _0\"></span>et financ<span class=\"_ _0\"></span>e income or expe<span class=\"_ _0\"></span>nses from in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts within the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Insurance contracts measured under VF<span class=\"_ _4\"></span>A model<span class=\"_ _3bd\"> </span>Life busine<span class=\"_ _0\"></span>ss is con<span class=\"_ _0\"></span>sidered to h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g features<span class=\"_ _0\"></span>, and is req<span class=\"_ _0\"></span>uired to be me<span class=\"_ _0\"></span>asured und<span class=\"_ _0\"></span>er the VF<span class=\"_ _2\"></span>A mo<span class=\"_ _0\"></span>del where<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al terms evide<span class=\"_ _0\"></span>nce that p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders par<span class=\"_ _0\"></span>ticipate in a p<span class=\"_ _0\"></span>ool of clearl<span class=\"_ _0\"></span>y identified un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>tems, for ex<span class=\"_ _0\"></span>ample unit-linked or with-<span class=\"_ _3bd\"> </span>profit<span class=\"_ _0\"></span>s funds;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders exp<span class=\"_ _0\"></span>ect to rec<span class=\"_ _0\"></span>eive a subs<span class=\"_ _0\"></span>tantial sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e returns on und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span>efined by the Gro<span class=\"_ _0\"></span>up as greater t<span class=\"_ _0\"></span>han 50% an<span class=\"_ _0\"></span>d fur<span class=\"_ _0\"></span>ther qua<span class=\"_ _0\"></span>litative fac<span class=\"_ _0\"></span>tors are con<span class=\"_ _0\"></span>sidered wh<span class=\"_ _0\"></span>ere share of return<span class=\"_ _0\"></span>s is less th<span class=\"_ _0\"></span>an 50%); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a sub<span class=\"_ _0\"></span>stantial p<span class=\"_ _0\"></span>ropor<span class=\"_ _0\"></span>tion of chang<span class=\"_ _0\"></span>es in amount<span class=\"_ _0\"></span>s payable to po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>rs varies wi<span class=\"_ _0\"></span>th returns on the un<span class=\"_ _0\"></span>derlyin<span class=\"_ _0\"></span>g items (where subs<span class=\"_ _0\"></span>tantial is define<span class=\"_ _0\"></span>d consis<span class=\"_ _0\"></span>tently with the p<span class=\"_ _0\"></span>oint above).<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s unit-linked an<span class=\"_ _0\"></span>d with-profits b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s that mee<span class=\"_ _0\"></span>ts the VF<span class=\"_ _2\"></span>A e<span class=\"_ _0\"></span>ligibilit<span class=\"_ _0\"></span>y criteria are dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts under whi<span class=\"_ _0\"></span>ch the Group\u2019s oblig<span class=\"_ _0\"></span>ation to the polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>r is the net of:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the o<span class=\"_ _0\"></span>bligation to pay th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older an am<span class=\"_ _0\"></span>ount equal to th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a varia<span class=\"_ _0\"></span>ble fee in excha<span class=\"_ _0\"></span>nge for fut<span class=\"_ _0\"></span>ure ser<span class=\"_ _0\"></span>vices provide<span class=\"_ _0\"></span>d by the contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, being t<span class=\"_ _0\"></span>he amount of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s sh<span class=\"_ _0\"></span>are of the fair value of the under<span class=\"_ _0\"></span>lying items le<span class=\"_ _0\"></span>ss fulfilm<span class=\"_ _0\"></span>ent cash flo<span class=\"_ _0\"></span>ws that do not var<span class=\"_ _0\"></span>y bas<span class=\"_ _0\"></span>ed on the ret<span class=\"_ _0\"></span>urns on under<span class=\"_ _0\"></span>lying items<span class=\"_ _0\"></span>. The Group p<span class=\"_ _0\"></span>rovides investm<span class=\"_ _0\"></span>ent ser<span class=\"_ _0\"></span>vices under t<span class=\"_ _0\"></span>hese co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s by giving a return b<span class=\"_ _0\"></span>ased on un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms, in a<span class=\"_ _0\"></span>ddition to insura<span class=\"_ _0\"></span>nce covera<span class=\"_ _0\"></span>ge.<span class=\"_ _3bd\"> </span>For unit-linked and wi<span class=\"_ _0\"></span>th-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s that are me<span class=\"_ _0\"></span>asured und<span class=\"_ _0\"></span>er the VF<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>, interes<span class=\"_ _0\"></span>t is not acc<span class=\"_ _0\"></span>reted on the C<span class=\"_ _0\"></span>SM using a lo<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d-in disco<span class=\"_ _0\"></span>unt rate, ins<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ad it is determ<span class=\"_ _0\"></span>ined with refere<span class=\"_ _0\"></span>nce to the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, refle<span class=\"_ _0\"></span>cting tha<span class=\"_ _0\"></span>t on these t<span class=\"_ _0\"></span>ypes of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts the Group fe<span class=\"_ _0\"></span>es for providing investm<span class=\"_ _0\"></span>ent-related s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es are determin<span class=\"_ _0\"></span>ed with referen<span class=\"_ _0\"></span>ce to the value of th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with t<span class=\"_ _0\"></span>he policyh<span class=\"_ _0\"></span>older\u2019s polic<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. For examp<span class=\"_ _0\"></span>le, annu<span class=\"_ _0\"></span>al manag<span class=\"_ _0\"></span>ement ch<span class=\"_ _0\"></span>arges (\u2018AMC<span class=\"_ _0\"></span>\u2019) are dete<span class=\"_ _0\"></span>rmined by referen<span class=\"_ _0\"></span>ce to the value of th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older\u2019s fund valu<span class=\"_ _0\"></span>e and the sha<span class=\"_ _0\"></span>reholder<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f bon<span class=\"_ _0\"></span>uses on a with-<span class=\"_ _0\"></span>profits polic<span class=\"_ _0\"></span>y in a 90<span class=\"_ _0\"></span>:<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>0 fund is deter<span class=\"_ _0\"></span>mined ba<span class=\"_ _0\"></span>sed on the p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance of the wit<span class=\"_ _0\"></span>h-profits fun<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The var<span class=\"_ _0\"></span>iable fee ea<span class=\"_ _0\"></span>rned by the G<span class=\"_ _0\"></span>roup is cons<span class=\"_ _0\"></span>equently t<span class=\"_ _0\"></span>he Group\u2019s share of the fair va<span class=\"_ _0\"></span>lue of underlyin<span class=\"_ _0\"></span>g items les<span class=\"_ _0\"></span>s fulfilment c<span class=\"_ _0\"></span>ash flows th<span class=\"_ _0\"></span>at do not var<span class=\"_ _0\"></span>y base<span class=\"_ _0\"></span>d on returns of the un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms.<span class=\"_ _3bd\"> </span>For unit-linked contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s are funds th<span class=\"_ _0\"></span>at the unit price of th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>hosen by th<span class=\"_ _0\"></span>e policyho<span class=\"_ _0\"></span>lder varies w<span class=\"_ _0\"></span>ith.<span class=\"_ _3bd\"> </span>For with-p<span class=\"_ _0\"></span>rofits contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, the unde<span class=\"_ _0\"></span>rlying items a<span class=\"_ _0\"></span>re typic<span class=\"_ _0\"></span>ally the net a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s of the relevant with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>d, includin<span class=\"_ _0\"></span>g the est<span class=\"_ _0\"></span>ate and the fair value<span class=\"_ gs47\"> </span>of no<span class=\"_ _0\"></span>n-profit contra<span class=\"_ _0\"></span>cts wit<span class=\"_ _0\"></span>hin the fund. W<span class=\"_ _0\"></span>ith-profit fun<span class=\"_ _0\"></span>ds can var<span class=\"_ _0\"></span>y in their na<span class=\"_ _0\"></span>ture and ope<span class=\"_ _0\"></span>ration, th<span class=\"_ _0\"></span>erefore will be dep<span class=\"_ _0\"></span>endent on f<span class=\"_ _0\"></span>acts and<span class=\"_ gs47\"> </span>circ<span class=\"_ _0\"></span>umsta<span class=\"_ _0\"></span>nces<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>When m<span class=\"_ _0\"></span>easurin<span class=\"_ _0\"></span>g a group of unit-linked and with<span class=\"_ _0\"></span>-profits cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s using the VFA, th<span class=\"_ _0\"></span>e Group adj<span class=\"_ _0\"></span>usts th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows for the w<span class=\"_ _0\"></span>hole of the chan<span class=\"_ _0\"></span>ges in the o<span class=\"_ _0\"></span>bligation to pay p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders an am<span class=\"_ _0\"></span>ount equal to th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms. The<span class=\"_ _0\"></span>se chan<span class=\"_ _0\"></span>ges do not re<span class=\"_ _0\"></span>late to future ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and are reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in profit or loss<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up then adj<span class=\"_ _0\"></span>usts any C<span class=\"_ _0\"></span>SM for cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e amount of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s share of th<span class=\"_ _0\"></span>e fair value of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, which re<span class=\"_ _0\"></span>late to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es, as ex<span class=\"_ _0\"></span>plained b<span class=\"_ _0\"></span>elow.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of the C<span class=\"_ _0\"></span>SM at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amount a<span class=\"_ _0\"></span>t the star<span class=\"_ _0\"></span>t of the year, adjus<span class=\"_ _0\"></span>ted for<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the C<span class=\"_ _0\"></span>SM of any new co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s that are add<span class=\"_ _0\"></span>ed to the group in t<span class=\"_ _0\"></span>he year;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>hange in th<span class=\"_ _0\"></span>e amount of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms and cha<span class=\"_ _0\"></span>nges in fulfilm<span class=\"_ _0\"></span>ent cas<span class=\"_ _0\"></span>h flows that rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e to f<span class=\"_ _0\"></span>uture ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, except to th<span class=\"_ _0\"></span>e extent th<span class=\"_ _0\"></span>at:<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>the Gro<span class=\"_ _0\"></span>up has applie<span class=\"_ _0\"></span>d the risk miti<span class=\"_ _0\"></span>gation option to exc<span class=\"_ _0\"></span>lude from the C<span class=\"_ _0\"></span>SM chan<span class=\"_ _0\"></span>ges in the ef<span class=\"_ _0\"></span>fect of fin<span class=\"_ _0\"></span>ancial risk o<span class=\"_ _0\"></span>n the amount of it<span class=\"_ _0\"></span>s share of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s or fulfilment c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>a dec<span class=\"_ _0\"></span>rease in the a<span class=\"_ _0\"></span>mount of the Group\u2019s share of th<span class=\"_ _0\"></span>e fair value of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, or an in<span class=\"_ _0\"></span>crease in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t relate to future s<span class=\"_ _0\"></span>erv<span class=\"_ _0\"></span>ices<span class=\"_ _0\"></span>, exceeds t<span class=\"_ _0\"></span>he carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unt of the CSM<span class=\"_ _0\"></span>, givin<span class=\"_ _0\"></span>g rise to a loss in p<span class=\"_ _0\"></span>rofit or loss (in<span class=\"_ _0\"></span>cluded in in<span class=\"_ _0\"></span>surance s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce expen<span class=\"_ _0\"></span>ses) and creat<span class=\"_ _0\"></span>ing a loss c<span class=\"_ _0\"></span>omponent<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>an incre<span class=\"_ _0\"></span>ase in the am<span class=\"_ _0\"></span>ount of the Group\u2019s share of the f<span class=\"_ _0\"></span>air value of the unde<span class=\"_ _0\"></span>rlying item<span class=\"_ _0\"></span>s, or a de<span class=\"_ _0\"></span>crease in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t relate to future s<span class=\"_ _0\"></span>erv<span class=\"_ _0\"></span>ices<span class=\"_ _0\"></span>, is allocate<span class=\"_ _0\"></span>d to the loss c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt, reversin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s previousl<span class=\"_ _0\"></span>y recog<span class=\"_ _0\"></span>nised in profit o<span class=\"_ _0\"></span>r loss (incl<span class=\"_ _0\"></span>uded in ins<span class=\"_ _0\"></span>urance service expenses);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of any c<span class=\"_ _0\"></span>urrency exch<span class=\"_ _0\"></span>ange dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on the CS<span class=\"_ _0\"></span>M; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce revenue b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e of the ser<span class=\"_ _0\"></span>vices p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ded in the year (s<span class=\"_ _0\"></span>ee the \u2018<span class=\"_ _0\"></span>Insuran<span class=\"_ _0\"></span>ce revenue\u2019 a<span class=\"_ _0\"></span>ccounting p<span class=\"_ _0\"></span>olicy in note C1 for f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r details).<span class=\"_ _3bd\"> </span>Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows that relate to fu<span class=\"_ _0\"></span>ture ser<span class=\"_ _0\"></span>vice incl<span class=\"_ _0\"></span>ude the chan<span class=\"_ _0\"></span>ges rela<span class=\"_ _0\"></span>ting to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es spec<span class=\"_ _0\"></span>ified above for c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without direc<span class=\"_ _0\"></span>t part<span class=\"_ _0\"></span>icipation feat<span class=\"_ _0\"></span>ures (measure<span class=\"_ _0\"></span>d at current dis<span class=\"_ _0\"></span>count rates) an<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es in the effe<span class=\"_ _0\"></span>ct of the time va<span class=\"_ _0\"></span>lue of money an<span class=\"_ _0\"></span>d financial ri<span class=\"_ _0\"></span>sks that do not aris<span class=\"_ _0\"></span>e from underl<span class=\"_ _0\"></span>ying items<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up does not c<span class=\"_ _0\"></span>urrently appl<span class=\"_ _0\"></span>y the risk mitig<span class=\"_ _0\"></span>ation option to any m<span class=\"_ _0\"></span>aterial ex<span class=\"_ _0\"></span>tent. Loss component<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent represe<span class=\"_ _0\"></span>nts a notion<span class=\"_ _0\"></span>al record of th<span class=\"_ _0\"></span>e losse<span class=\"_ _0\"></span>s attribu<span class=\"_ _0\"></span>table to ea<span class=\"_ _0\"></span>ch group of onero<span class=\"_ _0\"></span>us insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. The los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is rele<span class=\"_ _0\"></span>ased ba<span class=\"_ _0\"></span>sed on a sy<span class=\"_ _0\"></span>stematic a<span class=\"_ _0\"></span>llocation of th<span class=\"_ _0\"></span>e subseq<span class=\"_ _0\"></span>uent chan<span class=\"_ _0\"></span>ges relatin<span class=\"_ _0\"></span>g to future se<span class=\"_ _0\"></span>rvice in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows to (i) the l<span class=\"_ _0\"></span>oss comp<span class=\"_ _0\"></span>onent<span class=\"_ _0\"></span>; and (ii) the liabilit<span class=\"_ _0\"></span>y for rema<span class=\"_ _0\"></span>ining covera<span class=\"_ _0\"></span>ge excluding th<span class=\"_ _0\"></span>e loss co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>. The los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is also up<span class=\"_ _0\"></span>dated for subs<span class=\"_ _0\"></span>equent chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates of the f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows and th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment rel<span class=\"_ _0\"></span>ating to future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e. The sys<span class=\"_ _0\"></span>tematic all<span class=\"_ _0\"></span>ocation of sub<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nt chan<span class=\"_ _0\"></span>ges to the lo<span class=\"_ _0\"></span>ss comp<span class=\"_ _0\"></span>onent res<span class=\"_ _0\"></span>ults in the total a<span class=\"_ _0\"></span>mounts allo<span class=\"_ _0\"></span>cated to th<span class=\"_ _0\"></span>e loss com<span class=\"_ _0\"></span>ponent b<span class=\"_ _0\"></span>eing equa<span class=\"_ _0\"></span>l to z<span class=\"_ _2\"></span>ero by th<span class=\"_ _0\"></span>e end of the cover<span class=\"_ _0\"></span>age peri<span class=\"_ _0\"></span>od of a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up uses cover<span class=\"_ _0\"></span>age units a<span class=\"_ _0\"></span>s the metho<span class=\"_ _0\"></span>d of system<span class=\"_ _0\"></span>atic alloc<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span>Reinsu<span class=\"_ _2\"></span>rance contracts h<span class=\"_ _2\"></span>eld \u2013 measu<span class=\"_ _2\"></span>rement<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is the s<span class=\"_ _0\"></span>um of the ass<span class=\"_ _0\"></span>et/liabilit<span class=\"_ _0\"></span>y for rem<span class=\"_ _0\"></span>aining covera<span class=\"_ _0\"></span>ge and the as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility for in<span class=\"_ _0\"></span>curred claim<span class=\"_ _0\"></span>s. The a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverage c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>a) th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows that re<span class=\"_ _0\"></span>late to ser<span class=\"_ _0\"></span>vices th<span class=\"_ _0\"></span>at will be re<span class=\"_ _0\"></span>ceived und<span class=\"_ _0\"></span>er the contr<span class=\"_ _0\"></span>acts in f<span class=\"_ _0\"></span>uture perio<span class=\"_ _0\"></span>ds and (b) any remain<span class=\"_ _0\"></span>ing CSM at t<span class=\"_ _0\"></span>hat date.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts he<span class=\"_ _0\"></span>ld at initial rec<span class=\"_ _0\"></span>ognition fo<span class=\"_ _0\"></span>llows the sam<span class=\"_ _0\"></span>e principle<span class=\"_ _0\"></span>s as those for in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts iss<span class=\"_ _0\"></span>ued, with t<span class=\"_ _0\"></span>he excepti<span class=\"_ _0\"></span>on of the following:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>s an allowance o<span class=\"_ _0\"></span>n a probabilit<span class=\"_ _0\"></span>y-wei<span class=\"_ _0\"></span>ghted basis fo<span class=\"_ _0\"></span>r the effec<span class=\"_ _0\"></span>t of any non-pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce by the reins<span class=\"_ _0\"></span>urers<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding the ef<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>cts of co<span class=\"_ _0\"></span>llateral.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>sk adjus<span class=\"_ _0\"></span>tment for no<span class=\"_ _0\"></span>n-financ<span class=\"_ _0\"></span>ial risk is determ<span class=\"_ _0\"></span>ined so th<span class=\"_ _0\"></span>at it represe<span class=\"_ _0\"></span>nts the am<span class=\"_ _0\"></span>ount of risk bein<span class=\"_ _0\"></span>g transferre<span class=\"_ _0\"></span>d to the reins<span class=\"_ _0\"></span>urer and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup reco<span class=\"_ _0\"></span>gnises b<span class=\"_ _0\"></span>oth gains and l<span class=\"_ _0\"></span>osse<span class=\"_ _0\"></span>s at initial rec<span class=\"_ _0\"></span>ognition in th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated financ<span class=\"_ _0\"></span>ial positi<span class=\"_ _0\"></span>on as CSM a<span class=\"_ _0\"></span>nd releas<span class=\"_ _0\"></span>es this to profit or lo<span class=\"_ _0\"></span>ss as the rein<span class=\"_ _0\"></span>surer rend<span class=\"_ _0\"></span>ers ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>, except for a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y p<span class=\"_ _0\"></span>ortio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f a lo<span class=\"_ _0\"></span>ss that rel<span class=\"_ _0\"></span>ates to events before in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>. Where the Gro<span class=\"_ _0\"></span>up rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s a loss on initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition of an onero<span class=\"_ _0\"></span>us group of unde<span class=\"_ _0\"></span>rlying contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, it es<span class=\"_ _0\"></span>tablishe<span class=\"_ _0\"></span>s a loss-<span class=\"_ _0\"></span>recover<span class=\"_ _0\"></span>y compo<span class=\"_ _0\"></span>nent of the as<span class=\"_ _0\"></span>set for remain<span class=\"_ _0\"></span>ing coverag<span class=\"_ _0\"></span>e depictin<span class=\"_ _0\"></span>g the recove<span class=\"_ _0\"></span>ry of los<span class=\"_ _0\"></span>ses rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>rein<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are n<span class=\"_ _0\"></span>ot eligible to app<span class=\"_ _0\"></span>ly the VF<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>T<span class=\"_ _2\"></span>o determin<span class=\"_ _0\"></span>e the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt for reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts h<span class=\"_ _0\"></span>eld, the Gro<span class=\"_ _0\"></span>up will apply th<span class=\"_ _0\"></span>e approach s<span class=\"_ _0\"></span>et out above for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s both gros<span class=\"_ _0\"></span>s and net of reins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d determine th<span class=\"_ _0\"></span>e amount of risk b<span class=\"_ _0\"></span>eing trans<span class=\"_ _0\"></span>ferred to the re<span class=\"_ _0\"></span>insurer as th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween the t<span class=\"_ _0\"></span>wo result<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The lo<span class=\"_ _0\"></span>ss-re<span class=\"_ _0\"></span>covery c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt determines t<span class=\"_ _0\"></span>he amount<span class=\"_ _0\"></span>s that are subs<span class=\"_ _0\"></span>equently p<span class=\"_ _0\"></span>resente<span class=\"_ _0\"></span>d in profit or loss a<span class=\"_ _0\"></span>s reversals of re<span class=\"_ _0\"></span>coveries of los<span class=\"_ _0\"></span>ses from reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s and are exclud<span class=\"_ _0\"></span>ed from the allo<span class=\"_ _0\"></span>cation of rein<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>remiums paid<span class=\"_ _0\"></span>. It is adj<span class=\"_ _0\"></span>usted to refle<span class=\"_ _0\"></span>ct chan<span class=\"_ _0\"></span>ges in the l<span class=\"_ _0\"></span>oss comp<span class=\"_ _0\"></span>onent of the one<span class=\"_ _0\"></span>rous group of und<span class=\"_ _0\"></span>erlying co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, but it c<span class=\"_ _0\"></span>annot exce<span class=\"_ _0\"></span>ed the p<span class=\"_ _0\"></span>ortion of th<span class=\"_ _0\"></span>e loss com<span class=\"_ _0\"></span>ponent of the o<span class=\"_ _0\"></span>nerous gro<span class=\"_ _0\"></span>up of underlying contr<span class=\"_ _0\"></span>acts th<span class=\"_ _0\"></span>at the Group ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>s to recover from th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up adjus<span class=\"_ _0\"></span>ts the C<span class=\"_ _0\"></span>SM of the group to w<span class=\"_ _0\"></span>hich a reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act be<span class=\"_ _0\"></span>longs an<span class=\"_ _0\"></span>d as a result re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es incom<span class=\"_ _0\"></span>e when it rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s a loss on initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion of onerous un<span class=\"_ _0\"></span>derlying c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, if th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct is entere<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>efore or at the sa<span class=\"_ _0\"></span>me time as the o<span class=\"_ _0\"></span>nerous under<span class=\"_ _0\"></span>lying contr<span class=\"_ _0\"></span>acts are re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised. Th<span class=\"_ _0\"></span>e adjus<span class=\"_ _0\"></span>tment to the C<span class=\"_ _0\"></span>SM is determ<span class=\"_ _0\"></span>ined by multip<span class=\"_ _0\"></span>lying:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount of the los<span class=\"_ _0\"></span>s that relate<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>ercenta<span class=\"_ _0\"></span>ge of claims on t<span class=\"_ _0\"></span>he underly<span class=\"_ _0\"></span>ing contra<span class=\"_ _0\"></span>cts that t<span class=\"_ _0\"></span>he Group exp<span class=\"_ _0\"></span>ects to re<span class=\"_ _0\"></span>cover from the re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts. The s<span class=\"_ _0\"></span>ubseque<span class=\"_ _0\"></span>nt measure<span class=\"_ _0\"></span>ment of reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld follows th<span class=\"_ _0\"></span>e same prin<span class=\"_ _0\"></span>ciples as th<span class=\"_ _0\"></span>ose for insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts i<span class=\"_ _0\"></span>ssued<span class=\"_ _0\"></span>, with the excepti<span class=\"_ _0\"></span>on of the following:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in profit or los<span class=\"_ _0\"></span>s if the relate<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es arising fro<span class=\"_ _0\"></span>m the underl<span class=\"_ _0\"></span>ying cede<span class=\"_ _0\"></span>d contra<span class=\"_ _0\"></span>cts have be<span class=\"_ _0\"></span>en reco<span class=\"_ _0\"></span>gnised in profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>. Alternative<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>, cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows ad<span class=\"_ _0\"></span>just the C<span class=\"_ _0\"></span>SM; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t result from ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk of non-pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce by the is<span class=\"_ _0\"></span>suer of a reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract he<span class=\"_ _0\"></span>ld do not adj<span class=\"_ _0\"></span>ust the C<span class=\"_ _0\"></span>SM as they d<span class=\"_ _0\"></span>o not relate to future s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce. The ef<span class=\"_ _0\"></span>fect of the n<span class=\"_ _0\"></span>on-per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e risk of the reins<span class=\"_ _0\"></span>urer is ass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d at each re<span class=\"_ _0\"></span>portin<span class=\"_ _0\"></span>g date and t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>t of chang<span class=\"_ _0\"></span>es in the non-p<span class=\"_ _0\"></span>erfor<span class=\"_ _0\"></span>mance ris<span class=\"_ _0\"></span>k is recog<span class=\"_ _0\"></span>nised in profit o<span class=\"_ _0\"></span>r loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Modificati<span class=\"_ _2\"></span>on and derecogni<span class=\"_ _2\"></span>tion<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e and reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s when: \u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts and ob<span class=\"_ _0\"></span>ligations re<span class=\"_ _0\"></span>lating to the co<span class=\"_ _0\"></span>ntract are ex<span class=\"_ _0\"></span>ting<span class=\"_ _0\"></span>uished (i.e<span class=\"_ _0\"></span>. discharg<span class=\"_ _0\"></span>ed, c<span class=\"_ _0\"></span>ancelle<span class=\"_ _0\"></span>d or expired)<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t is modified s<span class=\"_ _0\"></span>uch that th<span class=\"_ _0\"></span>e modificat<span class=\"_ _0\"></span>ion result<span class=\"_ _0\"></span>s in a change in t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement mo<span class=\"_ _0\"></span>del, or the a<span class=\"_ _0\"></span>pplicabl<span class=\"_ _0\"></span>e stand<span class=\"_ _0\"></span>ard for meas<span class=\"_ _0\"></span>uring a comp<span class=\"_ _0\"></span>onent of the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>. In such c<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>, the Group de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nises the ini<span class=\"_ _0\"></span>tial contra<span class=\"_ _0\"></span>ct and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es the modifi<span class=\"_ _0\"></span>ed contra<span class=\"_ _0\"></span>ct as a new c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Disclosur<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> gro<span class=\"_ _0\"></span>ups<span class=\"_ _2\"></span> The Gro<span class=\"_ _0\"></span>up disag<span class=\"_ _0\"></span>gregate<span class=\"_ _0\"></span>s in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation for the p<span class=\"_ _0\"></span>urposes of m<span class=\"_ _0\"></span>aking the disc<span class=\"_ _0\"></span>losures re<span class=\"_ _0\"></span>quired by IFR<span class=\"_ _0\"></span>S 17 int<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e following disc<span class=\"_ _0\"></span>losure group<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Retir<span class=\"_ _2\"></span>ement Solutions;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ns &amp; Savings;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>With<span class=\"_ _0\"></span>-Profits; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span>The dis<span class=\"_ _0\"></span>closure gro<span class=\"_ _0\"></span>ups are aligne<span class=\"_ _0\"></span>d to the seg<span class=\"_ _0\"></span>ments us<span class=\"_ _0\"></span>ed for se<span class=\"_ _0\"></span>gmental re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting in note B1.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-623": {
   "value": "C2. Fees and commissions Fees re<span class=\"_ _0\"></span>lated to the provis<span class=\"_ _0\"></span>ion of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and adminis<span class=\"_ _0\"></span>tration se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s ser<span class=\"_ _0\"></span>vices are provid<span class=\"_ _0\"></span>ed. Front<span class=\"_ gs47\"> </span>end fees<span class=\"_ _0\"></span>, which are c<span class=\"_ _0\"></span>harged a<span class=\"_ _0\"></span>t the incepti<span class=\"_ _0\"></span>on of serv<span class=\"_ _0\"></span>ice contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, are deferred a<span class=\"_ _0\"></span>s a liabilit<span class=\"_ _0\"></span>y and reco<span class=\"_ _0\"></span>gnised ove<span class=\"_ _0\"></span>r the life of the contra<span class=\"_ _0\"></span>ct. No s<span class=\"_ _0\"></span>ignificant judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s are require<span class=\"_ _0\"></span>d in determining th<span class=\"_ _0\"></span>e timing or amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f fe<span class=\"_ _0\"></span>e income o<span class=\"_ _0\"></span>r the cost<span class=\"_ _0\"></span>s incurre<span class=\"_ _0\"></span>d to obtain or fulfil a c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F does not in<span class=\"_ _0\"></span>clude amo<span class=\"_ _0\"></span>unts related to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der tax<span class=\"_ _0\"></span>.  Policyhol<span class=\"_ _0\"></span>der tax is c<span class=\"_ _0\"></span>ollecte<span class=\"_ _0\"></span>d through adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts to unit price<span class=\"_ _0\"></span>s and is therefore re<span class=\"_ _0\"></span>flecte<span class=\"_ _0\"></span>d in chang<span class=\"_ _0\"></span>e in in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below di<span class=\"_ _0\"></span>saggre<span class=\"_ _0\"></span>gates fe<span class=\"_ _0\"></span>es and comm<span class=\"_ _0\"></span>issions by s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt. <table class=\"s w257 h219\" id=\"_d0ea2872-408f-467e-9c31-ba2d435ba696\"><tr><td></td><td class=\"t m0 x53b h29 y5b3d ff3 fs5 fc3 sc0 lsbe wsbe\">Retirement </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y5b3e ff3 fs5 fc3 sc0 ls8d ws86\">Solutions </td><td class=\"t m0 x53d h29 y5b3e ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53e h29 y5b3e ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f h29 y5b3e ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5b3e ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5b3f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b40 w2cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x630 y5b40 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x631 y5b40 w2b2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">87<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x632 y5b40 w27c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x633 y5b40 w5c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x27a y5b40 w2cc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">9<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b41 w2cd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Initia<span class=\"_ _0\"></span>l f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es deferre<span class=\"_ _0\"></span>d during the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x634 y5b41 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x635 y5b41 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x636 y5b41 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x637 y5b41 w1e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x638 y5b41 w1e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b42 w2ce h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsb6 wsb4\">Revenue from inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>tment contracts without D<span class=\"_ _0\"></span>PF<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b42 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63a y5b42 w2b2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">87<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63b y5b42 w27c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63c y5b42 wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63d y5b42 wc9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">983<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w2cf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er revenue from c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with cus<span class=\"_ _0\"></span>tomers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b43 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63e y5b43 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63f y5b43 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x640 y5b43 wc6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x641 y5b43 w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w2d1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Fees<span class=\"_ _2\"></span> and commiss<span class=\"_ _0\"></span>i<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x642 y5b44 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x643 y5b44 wc9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">886<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x644 y5b44 w25c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x645 y5b44 w25d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x646 y5b44 w2d2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w2d3 h21a\" id=\"_ba9dfc5b-60e0-439a-8a77-15dec9772a7b\"><tr><td></td><td class=\"t m0 x647 ha y5b45 ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x59c ha y5b46 ff2 fs5 fc3 sc0 ls11 ws11\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x648 ha y5b46 ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; S<span class=\"_ _0\"></span>aving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x649 ha y5b46 ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x64a ha y5b46 ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5b46 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5b47 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a4 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b48 w2cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x630 y5b48 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64b y5b48 w2d4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">81<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64c y5b48 w267 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64d y5b48 w154 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64e y5b48 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">9<span class=\"_ _0\"></span>26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b49 w2cd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Initia<span class=\"_ _0\"></span>l f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es deferre<span class=\"_ _0\"></span>d during the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64f y5b49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x650 y5b49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x651 y5b49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x652 y5b49 w78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe y5b49 w78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4a w2ce h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb6 wsb4\">Revenue from inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>tment contracts without D<span class=\"_ _0\"></span>PF<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b4a wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x653 y5b4a w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">814<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x654 y5b4a w267 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x655 y5b4a w2d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x656 y5b4a w2d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">917<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4b w2cf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er revenue from c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with cus<span class=\"_ _0\"></span>tomers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x657 y5b4b w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x658 y5b4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x659 y5b4b w2d7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65a y5b4b w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w2d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Fees<span class=\"_ _2\"></span> and commiss<span class=\"_ _0\"></span>i<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65b y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65c y5b4c w2d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">828<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65d y5b4c w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65e y5b4c w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65f y5b4c w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">9<span class=\"_ _0\"></span>67<span class=\"_ _3bd\"> </span></div></td></tr></table>Remaini<span class=\"_ _2\"></span>ng performance o<span class=\"_ _2\"></span>bligations<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>al expedi<span class=\"_ _0\"></span>ent under IFR<span class=\"_ _0\"></span>S 15 Revenu<span class=\"_ _0\"></span>e from Contra<span class=\"_ _0\"></span>cts with C<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs has be<span class=\"_ _0\"></span>en applie<span class=\"_ _0\"></span>d and remain<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e obligation<span class=\"_ _0\"></span>s are not discl<span class=\"_ _0\"></span>osed as th<span class=\"_ _0\"></span>e Group has th<span class=\"_ _0\"></span>e right to cons<span class=\"_ _0\"></span>ideration fro<span class=\"_ _0\"></span>m custome<span class=\"_ _0\"></span>rs in amount<span class=\"_ _0\"></span>s that cor<span class=\"_ _0\"></span>respond w<span class=\"_ _0\"></span>ith the per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e complete<span class=\"_ _0\"></span>d to date. Sp<span class=\"_ _0\"></span>ecifica<span class=\"_ _0\"></span>lly manag<span class=\"_ _0\"></span>ement ch<span class=\"_ _0\"></span>arges be<span class=\"_ _0\"></span>come du<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r time in propor<span class=\"_ _0\"></span>tion to the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s provisi<span class=\"_ _0\"></span>on of in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In the p<span class=\"_ _0\"></span>eriod, n<span class=\"_ _0\"></span>o amor<span class=\"_ _0\"></span>tisation or im<span class=\"_ _0\"></span>pairment los<span class=\"_ _0\"></span>ses from c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with cus<span class=\"_ _0\"></span>tomers we<span class=\"_ _0\"></span>re recog<span class=\"_ _0\"></span>nised in th<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt of comprehe<span class=\"_ _0\"></span>nsive incom<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-581": {
   "value": "C2. Fees and commissions Fees re<span class=\"_ _0\"></span>lated to the provis<span class=\"_ _0\"></span>ion of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and adminis<span class=\"_ _0\"></span>tration se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s ser<span class=\"_ _0\"></span>vices are provid<span class=\"_ _0\"></span>ed. Front<span class=\"_ gs47\"> </span>end fees<span class=\"_ _0\"></span>, which are c<span class=\"_ _0\"></span>harged a<span class=\"_ _0\"></span>t the incepti<span class=\"_ _0\"></span>on of serv<span class=\"_ _0\"></span>ice contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, are deferred a<span class=\"_ _0\"></span>s a liabilit<span class=\"_ _0\"></span>y and reco<span class=\"_ _0\"></span>gnised ove<span class=\"_ _0\"></span>r the life of the contra<span class=\"_ _0\"></span>ct. No s<span class=\"_ _0\"></span>ignificant judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s are require<span class=\"_ _0\"></span>d in determining th<span class=\"_ _0\"></span>e timing or amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f fe<span class=\"_ _0\"></span>e income o<span class=\"_ _0\"></span>r the cost<span class=\"_ _0\"></span>s incurre<span class=\"_ _0\"></span>d to obtain or fulfil a c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F does not in<span class=\"_ _0\"></span>clude amo<span class=\"_ _0\"></span>unts related to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der tax<span class=\"_ _0\"></span>.  Policyhol<span class=\"_ _0\"></span>der tax is c<span class=\"_ _0\"></span>ollecte<span class=\"_ _0\"></span>d through adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts to unit price<span class=\"_ _0\"></span>s and is therefore re<span class=\"_ _0\"></span>flecte<span class=\"_ _0\"></span>d in chang<span class=\"_ _0\"></span>e in in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below di<span class=\"_ _0\"></span>saggre<span class=\"_ _0\"></span>gates fe<span class=\"_ _0\"></span>es and comm<span class=\"_ _0\"></span>issions by s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt. <table class=\"s w257 h219\" id=\"_d0ea2872-408f-467e-9c31-ba2d435ba696\"><tr><td></td><td class=\"t m0 x53b h29 y5b3d ff3 fs5 fc3 sc0 lsbe wsbe\">Retirement </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y5b3e ff3 fs5 fc3 sc0 ls8d ws86\">Solutions </td><td class=\"t m0 x53d h29 y5b3e ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53e h29 y5b3e ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f h29 y5b3e ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5b3e ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5b3f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5b3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b40 w2cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x630 y5b40 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x631 y5b40 w2b2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">87<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x632 y5b40 w27c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x633 y5b40 w5c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x27a y5b40 w2cc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">9<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b41 w2cd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Initia<span class=\"_ _0\"></span>l f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es deferre<span class=\"_ _0\"></span>d during the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x634 y5b41 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x635 y5b41 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x636 y5b41 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x637 y5b41 w1e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x638 y5b41 w1e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b42 w2ce h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsb6 wsb4\">Revenue from inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>tment contracts without D<span class=\"_ _0\"></span>PF<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b42 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63a y5b42 w2b2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">87<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63b y5b42 w27c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63c y5b42 wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63d y5b42 wc9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">983<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w2cf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er revenue from c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with cus<span class=\"_ _0\"></span>tomers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b43 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63e y5b43 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63f y5b43 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x640 y5b43 wc6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x641 y5b43 w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w2d1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Fees<span class=\"_ _2\"></span> and commiss<span class=\"_ _0\"></span>i<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x642 y5b44 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x643 y5b44 wc9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">886<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x644 y5b44 w25c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x645 y5b44 w25d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x646 y5b44 w2d2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w2d3 h21a\" id=\"_ba9dfc5b-60e0-439a-8a77-15dec9772a7b\"><tr><td></td><td class=\"t m0 x647 ha y5b45 ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x59c ha y5b46 ff2 fs5 fc3 sc0 ls11 ws11\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x648 ha y5b46 ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; S<span class=\"_ _0\"></span>aving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x649 ha y5b46 ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x64a ha y5b46 ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5b46 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5b47 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a4 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b47 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b48 w2cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x630 y5b48 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64b y5b48 w2d4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">81<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64c y5b48 w267 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64d y5b48 w154 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64e y5b48 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">9<span class=\"_ _0\"></span>26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b49 w2cd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Initia<span class=\"_ _0\"></span>l f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es deferre<span class=\"_ _0\"></span>d during the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64f y5b49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x650 y5b49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x651 y5b49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x652 y5b49 w78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe y5b49 w78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4a w2ce h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb6 wsb4\">Revenue from inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>tment contracts without D<span class=\"_ _0\"></span>PF<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b4a wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x653 y5b4a w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">814<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x654 y5b4a w267 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x655 y5b4a w2d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x656 y5b4a w2d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">917<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4b w2cf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er revenue from c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with cus<span class=\"_ _0\"></span>tomers<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x639 y5b4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x657 y5b4b w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x658 y5b4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x659 y5b4b w2d7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65a y5b4b w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w2d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Fees<span class=\"_ _2\"></span> and commiss<span class=\"_ _0\"></span>i<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65b y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65c y5b4c w2d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">828<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65d y5b4c w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65e y5b4c w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65f y5b4c w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">9<span class=\"_ _0\"></span>67<span class=\"_ _3bd\"> </span></div></td></tr></table>Remaini<span class=\"_ _2\"></span>ng performance o<span class=\"_ _2\"></span>bligations<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>al expedi<span class=\"_ _0\"></span>ent under IFR<span class=\"_ _0\"></span>S 15 Revenu<span class=\"_ _0\"></span>e from Contra<span class=\"_ _0\"></span>cts with C<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs has be<span class=\"_ _0\"></span>en applie<span class=\"_ _0\"></span>d and remain<span class=\"_ _0\"></span>ing per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e obligation<span class=\"_ _0\"></span>s are not discl<span class=\"_ _0\"></span>osed as th<span class=\"_ _0\"></span>e Group has th<span class=\"_ _0\"></span>e right to cons<span class=\"_ _0\"></span>ideration fro<span class=\"_ _0\"></span>m custome<span class=\"_ _0\"></span>rs in amount<span class=\"_ _0\"></span>s that cor<span class=\"_ _0\"></span>respond w<span class=\"_ _0\"></span>ith the per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e complete<span class=\"_ _0\"></span>d to date. Sp<span class=\"_ _0\"></span>ecifica<span class=\"_ _0\"></span>lly manag<span class=\"_ _0\"></span>ement ch<span class=\"_ _0\"></span>arges be<span class=\"_ _0\"></span>come du<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r time in propor<span class=\"_ _0\"></span>tion to the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s provisi<span class=\"_ _0\"></span>on of in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In the p<span class=\"_ _0\"></span>eriod, n<span class=\"_ _0\"></span>o amor<span class=\"_ _0\"></span>tisation or im<span class=\"_ _0\"></span>pairment los<span class=\"_ _0\"></span>ses from c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with cus<span class=\"_ _0\"></span>tomers we<span class=\"_ _0\"></span>re recog<span class=\"_ _0\"></span>nised in th<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt of comprehe<span class=\"_ _0\"></span>nsive incom<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span><table class=\"s w2d9 h21b\" id=\"_da8a0330-4e6e-4f49-a614-a0ab790ecfb3\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5b4d ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5b4e ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5b4f w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5b50 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b50 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5b51 ff3 fs6 fc3 sc0 ls5f ws122\">Investment i<span class=\"_ _2\"></span>nc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b52 w2da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e on financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x660 y5b52 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x661 y5b52 w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b53 w2dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e on financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x662 y5b53 w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,36<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x663 y5b53 w2dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">3,<span class=\"_ _0\"></span>901<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b54 w2de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Divid<span class=\"_ _0\"></span>end incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x664 y5b54 w2df h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">6,403<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x665 y5b54 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">5<span class=\"_ _0\"></span>,923<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b55 w2e0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Renta<span class=\"_ _0\"></span>l income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x666 y5b55 w2e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">329<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x667 y5b55 we1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">324<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b57 w2e2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net intere<span class=\"_ _0\"></span>st expe<span class=\"_ _0\"></span>nse on Gro<span class=\"_ _0\"></span>up defined be<span class=\"_ _0\"></span>nefit pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>as<span class=\"_ _0\"></span>set (rest<span class=\"_ _0\"></span>ated)</div><div class=\"t m0 x668 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x669 y5b57 w70 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66a y5b57 w2e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">(111)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x66b y5a6b w2e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">11<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>070<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66c y5a6b wed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5b58 ff3 fs6 fc3 sc0 ls14 ws1e\">Fair<span class=\"_ _2\"></span> value gains/(losses)<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b59 w2e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and fi<span class=\"_ _0\"></span>nancial lia<span class=\"_ _0\"></span>bilities at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66d y5b59 w1f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66e y5b59 w2e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>126<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a6e wd8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66f y5a6e w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x670 y5a6e w2e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(362)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x671 y5a2a w2e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x672 y5a2a w2e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,76<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w2ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Net inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>en<span class=\"_ _2\"></span>t income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x673 y5a16 w54 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">18<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x674 y5a16 w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">20,<span class=\"_ _0\"></span>838<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span>C4<span class=\"_ _0\"></span>. Net financ<span class=\"_ _0\"></span>e e<span class=\"_ _2\"></span>xp<span class=\"_ _0\"></span>ense from insur<span class=\"_ _0\"></span>ance contra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance fina<span class=\"_ _0\"></span>nce inco<span class=\"_ _0\"></span>me and expe<span class=\"_ _0\"></span>nses c<span class=\"_ _0\"></span>omprise ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s arising from t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>ts of the tim<span class=\"_ _0\"></span>e value of money, financ<span class=\"_ _0\"></span>ial risk and ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>s therein, un<span class=\"_ _0\"></span>less any su<span class=\"_ _0\"></span>ch chang<span class=\"_ _0\"></span>es for groups of dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts are alloc<span class=\"_ _0\"></span>ated to a los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent and incl<span class=\"_ _0\"></span>uded in insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s. They in<span class=\"_ _0\"></span>clude ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment of groups of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s caus<span class=\"_ _0\"></span>ed by chan<span class=\"_ _0\"></span>ges in the va<span class=\"_ _0\"></span>lue of underlyin<span class=\"_ _0\"></span>g items. T<span class=\"_ _0\"></span>he Group pre<span class=\"_ _0\"></span>sents ins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance inc<span class=\"_ _0\"></span>ome or expe<span class=\"_ _0\"></span>nses in profit or l<span class=\"_ _0\"></span>oss.<span class=\"_ _3bd\"> </span><table class=\"s w2ec h21c\" id=\"_f17b6f9a-72e6-4f6a-a9fb-729bbf321202\"><tr><td></td><td class=\"t m0 x675 h29 y5b5a ff3 fs5 fc3 sc0 lsbe wsbe\">Retirement </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x676 h29 y5b5b ff3 fs5 fc3 sc0 ls8d ws86\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x677 h29 y5b5b ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x678 h29 y5b5b ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x679 h29 y5b5b ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67a h29 y5b5b ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5b5c ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67b h29 y5b5c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67c h29 y5b5c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67d h29 y5b5c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c1 h29 y5b5c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67e h29 y5b5c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5b5d ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5b5e ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in fair val<span class=\"_ _0\"></span>ue of underlyin<span class=\"_ _0\"></span>g items of direct </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b5f w2ed h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x67f y5b5f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x680 y5b5f w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>773)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x681 y5b5f w73 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">(26<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x682 y5b5f w127 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x683 y5b5f w2ee h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5b60 ff2 fs6 fc3 sc0 ls1 ws1\">Group\u2019s share of ch<span class=\"_ _0\"></span>anges in fa<span class=\"_ _0\"></span>ir value of underl<span class=\"_ _0\"></span>ying items </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b61 w2ef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">or<span class=\"_ gs47\"> </span>fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows that do not a<span class=\"_ _0\"></span>djust th<span class=\"_ _0\"></span>e CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x684 y5b61 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x685 y5b61 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x686 y5b61 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x687 y5b61 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x688 y5b61 w2f0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b62 w2f1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unwind of dis<span class=\"_ _0\"></span>count on fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x689 y5b62 w2f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,359)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x68a y5b62 w17e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(9<span class=\"_ _0\"></span>64)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x68b y5b62 w2f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>342<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x68c y5b62 w2f4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(890<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x68d y5b62 w286 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(5,555<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b63 w2f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t accrete<span class=\"_ _0\"></span>d on the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x68e y5b63 w127 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(10<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x68f y5b63 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x690 y5b63 w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x691 y5b63 w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x692 y5b63 w80 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>117<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b64 w2f7 h202\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of chang<span class=\"_ _0\"></span>es in interes<span class=\"_ _0\"></span>t rates and oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">finan<span class=\"_ _0\"></span>cial<span class=\"_ gs47\"> </span>ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x693 y5b64 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x694 y5b64 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x695 y5b64 w284 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x696 y5b64 w24a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2da y5b64 w2f9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ac5 w2fa h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> finance inco<span class=\"_ _2\"></span>me/<span class=\"_ _2\"></span>(expe<span class=\"_ _2\"></span>nse)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x697 y5ac5 w2fb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x698 y5ac5 w2fc h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x699 y5ac5 w2fd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,122)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x69a y5ac5 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>348<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x69b y5ac5 w62 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls8e ws87\">(3,<span class=\"_ _0\"></span>656)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5b65 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b66 w2f1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unwind of dis<span class=\"_ _0\"></span>count on fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x69c y5b66 w2fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">296<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x69d y5b66 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x69e y5b66 w98 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x69f y5b66 w2ff h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a0 y5b66 w215 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b67 w2f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t accrete<span class=\"_ _0\"></span>d on the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a1 y5b67 w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a2 y5b67 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a3 y5b67 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a4 y5b67 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a5 y5b67 w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b68 w2f7 h202\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of chang<span class=\"_ _0\"></span>es in interes<span class=\"_ _0\"></span>t rates and oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">finan<span class=\"_ _0\"></span>cial<span class=\"_ gs47\"> </span>ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a6 y5b68 w301 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(336)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a7 y5b68 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a8 y5b68 w302 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">(71<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a9 y5b68 w1f5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(116<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6aa y5b68 w303 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(<span class=\"_ _0\"></span>523)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b69 w304 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls10 ws10\">Reinsu<span class=\"_ _2\"></span>rance finance<span class=\"_ _2\"></span> income/<span class=\"_ _2\"></span>(e<span class=\"_ _2\"></span>xpense)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ab y5b69 w1a8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ac y5b69 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ad y5b69 waf h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(18)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ae y5b69 w305 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6c ws1ca\">(9<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6af y5b69 w66 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w306 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls10 ws10\">Net in<span class=\"_ _2\"></span>surance finance<span class=\"_ _2\"></span> income/<span class=\"_ _2\"></span>(<span class=\"_ _2\"></span>expense<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6b0 y5a16 w307 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ea ws208\">5<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6b1 y5a16 w2ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6b2 y5a16 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,14<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6b3 y5a16 w308 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls17 ws18\">(1,444)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6b4 y5a16 w309 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">(3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>65<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w30a h21d\" id=\"_2a813844-ec1c-4e97-aaa5-80a13e181ff5\"><tr><td></td><td class=\"t m0 x6b5 ha y5b6a ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x6b6 ha y5b6b ff2 fs5 fc3 sc0 ls11 ws11\">Solutions<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x498 ha y5b6b ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x6b8 y5b6c w30b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x6b7 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x3ba ha y5b6d ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; S<span class=\"_ _0\"></span>aving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff ha y5b6d ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b9 ha y5b6d ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></td><td class=\"c x6bb y5b6c w30c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x6ba h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h29 y5b6e ff3 fs5 fc3 sc0 ls22 ws24\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6bc ha y5b6e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b ha y5b6e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6bd ha y5b6e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48e ha y5b6e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6be ha y5b6e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5b6f ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5b70 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in fair val<span class=\"_ _0\"></span>ue of underlyin<span class=\"_ _0\"></span>g items of direct </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5b71 w2ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6bf y5b71 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c0 y5b71 w30d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(<span class=\"_ _0\"></span>581<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c1 y5b71 w30e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(629)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c2 y5b71 w30f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>376)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c3 y5b71 w310 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,586<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5b72 ff2 fs6 fc3 sc0 ls1 ws1\">Group\u2019s share of ch<span class=\"_ _0\"></span>anges in fa<span class=\"_ _0\"></span>ir value of underl<span class=\"_ _0\"></span>ying items </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5b73 w2ef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">or<span class=\"_ gs47\"> </span>fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows that do not a<span class=\"_ _0\"></span>djust th<span class=\"_ _0\"></span>e CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c4 y5b73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c5 y5b73 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c6 y5b73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c7 y5b73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c8 y5b73 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b74 w2f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Unwind of dis<span class=\"_ _0\"></span>count on fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6c9 y5b74 w311 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,9<span class=\"_ _0\"></span>30)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ca y5b74 w312 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(9<span class=\"_ _0\"></span>02)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6cb y5b74 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>320)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6cc y5b74 w310 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,<span class=\"_ _0\"></span>04<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6cd y5b74 w7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(5<span class=\"_ _0\"></span>,192)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b75 w2f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t accrete<span class=\"_ _0\"></span>d on the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ce y5b75 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(62)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6cf y5b75 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d0 y5b75 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d1 y5b75 w209 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d2 y5b75 w314 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(77<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5b76 ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of chang<span class=\"_ _0\"></span>es in interes<span class=\"_ _0\"></span>t rates and oth<span class=\"_ _0\"></span>er financi<span class=\"_ _0\"></span>al </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x28d y5b77 w315 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">as<span class=\"_ _0\"></span>sumptions (res<span class=\"_ _0\"></span>tated)</div><div class=\"t m0 x6d3 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d4 y5b78 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(45)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d5 y5b78 w316 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>117<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d6 y5b78 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d7 y5b78 w317 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(96)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d8 y5b78 w318 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b79 w319 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> finance ex<span class=\"_ _2\"></span>pense<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d9 y5b79 w31a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6da y5b79 w31b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,59<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6db y5b79 w31c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>914)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6dc y5b79 w31d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>517<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6dd y5b79 w1ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5b7a ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b1b w2f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Unwind of dis<span class=\"_ _0\"></span>count on fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6de y5b1b w31e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6df y5b1b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e0 y5b1b w31f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e1 y5b1b w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e2 y5b1b w320 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">325<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b7b w2f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t accrete<span class=\"_ _0\"></span>d on the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a1 y5b7b w321 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e3 y5b7b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e4 y5b7b w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e5 y5b7b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e6 y5b7b wc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5b7c ff2 fs6 fc3 sc0 ls1 ws1\">Effe<span class=\"_ _0\"></span>ct of chang<span class=\"_ _0\"></span>es in interes<span class=\"_ _0\"></span>t rates and oth<span class=\"_ _0\"></span>er financi<span class=\"_ _0\"></span>al </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b7d w322 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e7 y5b7d w323 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>173<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63a y5b7d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e8 y5b7d w324 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e9 y5b7d w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ea y5b7d w325 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _2\"></span>72)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5aca w326 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Reinsu<span class=\"_ _2\"></span>rance finance<span class=\"_ _2\"></span> income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6eb y5aca w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">122<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ec y5aca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ed y5aca w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ee y5aca w204 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ef y5aca w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">179<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w68 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Net in<span class=\"_ _2\"></span>surance finance<span class=\"_ _2\"></span> expense<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f0 y5a16 w327 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>915<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f1 y5a16 w328 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,59<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f2 y5a16 w329 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,86<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f3 y5a16 w32a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,5<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f4 y5a16 w32b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6,879)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>There i<span class=\"_ _0\"></span>s a close rela<span class=\"_ _0\"></span>tionship bet<span class=\"_ _0\"></span>wee<span class=\"_ _0\"></span>n the net investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e in note C3<span class=\"_ _0\"></span>, as it relates to as<span class=\"_ _0\"></span>sets b<span class=\"_ _0\"></span>acking c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s within the sc<span class=\"_ _0\"></span>ope of IFRS 17<span class=\"_ _2\"></span>, a<span class=\"_ _0\"></span>nd net ins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance (expen<span class=\"_ _0\"></span>se)/income. N<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income in<span class=\"_ _0\"></span>cludes th<span class=\"_ _0\"></span>e results for a<span class=\"_ _0\"></span>ll in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment as<span class=\"_ _0\"></span>sets in<span class=\"_ _0\"></span>cluding th<span class=\"_ _0\"></span>ose back<span class=\"_ _0\"></span>ing investme<span class=\"_ _0\"></span>nt contr<span class=\"_ _0\"></span>acts an<span class=\"_ _0\"></span>d surplus as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>. For Retirem<span class=\"_ _0\"></span>ent Solut<span class=\"_ _0\"></span>ions the prin<span class=\"_ _0\"></span>cipal produ<span class=\"_ _0\"></span>ct is annuiti<span class=\"_ _0\"></span>es. The in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e finance (exp<span class=\"_ _0\"></span>ense)/incom<span class=\"_ _0\"></span>e primarily refle<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e unwind of the disc<span class=\"_ _0\"></span>ount rate on th<span class=\"_ _0\"></span>e liabilities<span class=\"_ _0\"></span>. This is large<span class=\"_ _0\"></span>ly offs<span class=\"_ _0\"></span>et by the interes<span class=\"_ _0\"></span>t income e<span class=\"_ _0\"></span>arned, in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d within net invest<span class=\"_ _0\"></span>ment incom<span class=\"_ _0\"></span>e, on the as<span class=\"_ _0\"></span>sets b<span class=\"_ _0\"></span>acking the a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y contr<span class=\"_ _0\"></span>acts wh<span class=\"_ _0\"></span>ich primarily c<span class=\"_ _0\"></span>onsis<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>bt securi<span class=\"_ _0\"></span>ties and e<span class=\"_ _0\"></span>quity re<span class=\"_ _0\"></span>lease mo<span class=\"_ _0\"></span>rtga<span class=\"_ _0\"></span>ges<span class=\"_ _0\"></span>. Change<span class=\"_ _0\"></span>s in the disco<span class=\"_ _0\"></span>unt rates use<span class=\"_ _0\"></span>d to discount th<span class=\"_ _0\"></span>e annuit<span class=\"_ _0\"></span>y cash flows in th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment of the insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract liab<span class=\"_ _0\"></span>ilities are larg<span class=\"_ _0\"></span>ely offs<span class=\"_ _0\"></span>et by chang<span class=\"_ _0\"></span>es in the fair val<span class=\"_ _0\"></span>ue of the backin<span class=\"_ _0\"></span>g asset<span class=\"_ _0\"></span>s, in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e, in respe<span class=\"_ _0\"></span>ct of the be<span class=\"_ _0\"></span>st est<span class=\"_ _0\"></span>imate liabilit<span class=\"_ _0\"></span>y (\u2018<span class=\"_ _0\"></span>BEL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>) and risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent.<div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs23d\">Mism<span class=\"_ _0\"></span>atches be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n net investme<span class=\"_ _0\"></span>nt income a<span class=\"_ _0\"></span>nd insuran<span class=\"_ _0\"></span>ce financ<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>e arises for th<span class=\"_ _0\"></span>e following reas<span class=\"_ _0\"></span>ons:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs23e\">\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y busines<span class=\"_ _0\"></span>s within the Retire<span class=\"_ _0\"></span>ment Sol<span class=\"_ _0\"></span>utions se<span class=\"_ _0\"></span>gment us<span class=\"_ _0\"></span>es the Gen<span class=\"_ _0\"></span>eral Mo<span class=\"_ _0\"></span>del for mea<span class=\"_ _0\"></span>surement<span class=\"_ _0\"></span>. As a result<span class=\"_ _0\"></span>, the contra<span class=\"_ _0\"></span>ctual s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs23f\">margin (<span class=\"_ _0\"></span>\u2018CS<span class=\"_ _0\"></span>M\u2019<span class=\"_ _0\"></span>) is meas<span class=\"_ _0\"></span>ured using dis<span class=\"_ _0\"></span>count rates lo<span class=\"_ _0\"></span>cked in at incept<span class=\"_ _0\"></span>ion, whe<span class=\"_ _0\"></span>reas the as<span class=\"_ _0\"></span>sets b<span class=\"_ _0\"></span>acking the C<span class=\"_ _0\"></span>SM are ba<span class=\"_ _0\"></span>sed on curre<span class=\"_ _0\"></span>nt </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs240\">ec<span class=\"_ _0\"></span>onomic<span class=\"_ gs47\"> </span>as<span class=\"_ _0\"></span>sumptions<span class=\"_ _0\"></span>; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs241\">\u2022 <span class=\"_ _19\"> </span>the di<span class=\"_ _0\"></span>scount rate for a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y busines<span class=\"_ _0\"></span>s uses a refere<span class=\"_ _0\"></span>nce por<span class=\"_ _0\"></span>tfolio c<span class=\"_ _0\"></span>onstr<span class=\"_ _0\"></span>ucted in line w<span class=\"_ _0\"></span>ith the Group\u2019s investme<span class=\"_ _0\"></span>nt strateg<span class=\"_ _0\"></span>y as set ou<span class=\"_ _0\"></span>t in Note F11.<span class=\"_ _0\"></span>2.1, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs242\">and th<span class=\"_ _0\"></span>erefore insuran<span class=\"_ _0\"></span>ce financ<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es are impac<span class=\"_ _0\"></span>ted by chan<span class=\"_ _0\"></span>ges to the a<span class=\"_ _0\"></span>sset mix w<span class=\"_ _0\"></span>ithin this referenc<span class=\"_ _0\"></span>e por<span class=\"_ _0\"></span>tfolio. Ne<span class=\"_ _0\"></span>t inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs243\">determin<span class=\"_ _0\"></span>ed with refere<span class=\"_ _0\"></span>nce to the ac<span class=\"_ _0\"></span>tual as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld by the Group dur<span class=\"_ _0\"></span>ing the repo<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>eriod;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs244\">\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in n<span class=\"_ _0\"></span>on-ec<span class=\"_ _0\"></span>onomic as<span class=\"_ _0\"></span>sumptions for G<span class=\"_ _0\"></span>eneral M<span class=\"_ _0\"></span>odel bu<span class=\"_ _0\"></span>siness im<span class=\"_ _0\"></span>pact<span class=\"_ _0\"></span>s BEL and risk a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tment using c<span class=\"_ _0\"></span>urrent disco<span class=\"_ _0\"></span>unt rates and C<span class=\"_ _0\"></span>SM using </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs245\">locked in dis<span class=\"_ _0\"></span>count rate<span class=\"_ _0\"></span>s. This give<span class=\"_ _0\"></span>s rise to a misma<span class=\"_ _0\"></span>tch for which the<span class=\"_ _0\"></span>re is no corres<span class=\"_ _0\"></span>ponding ite<span class=\"_ _0\"></span>m within net inves<span class=\"_ _0\"></span>tment inco<span class=\"_ _0\"></span>me; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs246\">For Pension<span class=\"_ _0\"></span>s &amp; Savings t<span class=\"_ _0\"></span>he principa<span class=\"_ _0\"></span>l product<span class=\"_ _0\"></span>s are unit-linked and hybri<span class=\"_ _0\"></span>d contrac<span class=\"_ _0\"></span>ts, w<span class=\"_ _0\"></span>hich contain a<span class=\"_ _0\"></span>n element of unit-linked an<span class=\"_ _0\"></span>d unitise<span class=\"_ _0\"></span>d with-profits </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs247\">within a sin<span class=\"_ _0\"></span>gle contra<span class=\"_ _0\"></span>ct. Th<span class=\"_ _0\"></span>ese contr<span class=\"_ _0\"></span>acts are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d primarily us<span class=\"_ _0\"></span>ing the variab<span class=\"_ _0\"></span>le fee approa<span class=\"_ _0\"></span>ch (\u2018<span class=\"_ _0\"></span>VF<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>) as the amo<span class=\"_ _0\"></span>unts payabl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>o p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs248\">refle<span class=\"_ _0\"></span>ct a subst<span class=\"_ _0\"></span>antial sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value retur<span class=\"_ _0\"></span>ns on the ba<span class=\"_ _0\"></span>cking ass<span class=\"_ _0\"></span>ets. A<span class=\"_ _0\"></span>s a result<span class=\"_ _0\"></span>, the chang<span class=\"_ _0\"></span>e in fair value of unde<span class=\"_ _0\"></span>rlying item<span class=\"_ _0\"></span>s within insuran<span class=\"_ _0\"></span>ce </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs249\">finan<span class=\"_ _0\"></span>ce (expens<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/inc<span class=\"_ _0\"></span>ome will be clo<span class=\"_ _0\"></span>sely matc<span class=\"_ _0\"></span>hed by chan<span class=\"_ _0\"></span>ges in the va<span class=\"_ _0\"></span>lue of backin<span class=\"_ _0\"></span>g asset<span class=\"_ _0\"></span>s which are als<span class=\"_ _0\"></span>o measure<span class=\"_ _0\"></span>d at fair value. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs24a\">The unwin<span class=\"_ _0\"></span>d of discount ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e o<span class=\"_ _0\"></span>n cash flows w<span class=\"_ _0\"></span>ithin insuran<span class=\"_ _0\"></span>ce financ<span class=\"_ _0\"></span>e (<span class=\"_ _2\"></span>ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>)/inc<span class=\"_ _0\"></span>ome is off<span class=\"_ _0\"></span>set by the inves<span class=\"_ _0\"></span>tment inco<span class=\"_ _0\"></span>me reco<span class=\"_ _0\"></span>gnised in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs24b\">of<span class=\"_ gs47\"> </span>back<span class=\"_ _0\"></span>ing asse<span class=\"_ _0\"></span>ts. Th<span class=\"_ _0\"></span>e discount r<span class=\"_ _0\"></span>ate used for B<span class=\"_ _0\"></span>EL and risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt is determine<span class=\"_ _0\"></span>d on a bot<span class=\"_ _0\"></span>tom-up basi<span class=\"_ _0\"></span>s, as set o<span class=\"_ _0\"></span>ut in note F11<span class=\"_ _0\"></span>.2.1, b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs24c\">liquidit<span class=\"_ _0\"></span>y char<span class=\"_ _0\"></span>acteris<span class=\"_ _0\"></span>tics of the li<span class=\"_ _0\"></span>abilities rath<span class=\"_ _0\"></span>er than with refere<span class=\"_ _0\"></span>nce to the b<span class=\"_ _0\"></span>acking as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d therefore a mism<span class=\"_ _0\"></span>atch occ<span class=\"_ _0\"></span>urs. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs24d\">For With-<span class=\"_ _0\"></span>Profits bus<span class=\"_ _0\"></span>iness th<span class=\"_ _0\"></span>ere are differin<span class=\"_ _0\"></span>g impact<span class=\"_ _0\"></span>s depe<span class=\"_ _0\"></span>ndent on the n<span class=\"_ _0\"></span>ature of the liabilitie<span class=\"_ _0\"></span>s within the fun<span class=\"_ _0\"></span>d. For with-profit<span class=\"_ _0\"></span>s busine<span class=\"_ _0\"></span>ss witho<span class=\"_ _0\"></span>ut </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs24e\">gua<span class=\"_ _0\"></span>rantees<span class=\"_ _0\"></span>, the relatio<span class=\"_ _0\"></span>nship bet<span class=\"_ _0\"></span>ween ne<span class=\"_ _0\"></span>t inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come and in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e finance (expe<span class=\"_ _0\"></span>nse)/incom<span class=\"_ _0\"></span>e will be consi<span class=\"_ _0\"></span>stent with tha<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the busine<span class=\"_ _0\"></span>ss </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs24f\">within Pens<span class=\"_ _0\"></span>ions &amp; Saving<span class=\"_ _0\"></span>s. In res<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>s, the val<span class=\"_ _0\"></span>ue of these is t<span class=\"_ _0\"></span>ypica<span class=\"_ _0\"></span>lly influenc<span class=\"_ _0\"></span>ed by chan<span class=\"_ _0\"></span>ges in interes<span class=\"_ _0\"></span>t rates<span class=\"_ _0\"></span>. The Group he<span class=\"_ _0\"></span>dges it<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs250\">interes<span class=\"_ _0\"></span>t rate risk in resp<span class=\"_ _0\"></span>ect of the<span class=\"_ _0\"></span>se guar<span class=\"_ _0\"></span>antees with d<span class=\"_ _0\"></span>erivatives suc<span class=\"_ _0\"></span>h that the ef<span class=\"_ _0\"></span>fect of cha<span class=\"_ _0\"></span>nges in intere<span class=\"_ _0\"></span>st rates on g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>s within insur<span class=\"_ _0\"></span>ance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs251\">finan<span class=\"_ _0\"></span>ce (expens<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/inc<span class=\"_ _0\"></span>ome are large<span class=\"_ _0\"></span>ly offs<span class=\"_ _0\"></span>et by chang<span class=\"_ _0\"></span>es in the fair val<span class=\"_ _0\"></span>ue of the derivative<span class=\"_ _0\"></span>s used for he<span class=\"_ _0\"></span>dging in ne<span class=\"_ _0\"></span>t inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs252\">For non-<span class=\"_ _0\"></span>profit busine<span class=\"_ _0\"></span>ss in a with-profit<span class=\"_ _0\"></span>s fund whe<span class=\"_ _0\"></span>re profits from th<span class=\"_ _0\"></span>ese contr<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>ccrue to th<span class=\"_ _0\"></span>e with-profits p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lders or to th<span class=\"_ _0\"></span>e with-profits f<span class=\"_ _0\"></span>und </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs253\">es<span class=\"_ _0\"></span>tate, the no<span class=\"_ _0\"></span>n-profit contra<span class=\"_ _0\"></span>cts an<span class=\"_ _0\"></span>d their bac<span class=\"_ _0\"></span>king ass<span class=\"_ _0\"></span>ets are con<span class=\"_ _0\"></span>sidered to b<span class=\"_ _0\"></span>e an underly<span class=\"_ _0\"></span>ing item of the with-p<span class=\"_ _0\"></span>rofits contr<span class=\"_ _0\"></span>acts an<span class=\"_ _0\"></span>d therefore </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs254\">chan<span class=\"_ _0\"></span>ges in the<span class=\"_ _0\"></span>ir fair value are inc<span class=\"_ _0\"></span>luded with<span class=\"_ _0\"></span>in insuranc<span class=\"_ _0\"></span>e finance (exp<span class=\"_ _0\"></span>ense)/incom<span class=\"_ _0\"></span>e. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs255\">The n<span class=\"_ _0\"></span>on-profit contr<span class=\"_ _0\"></span>acts will b<span class=\"_ _0\"></span>e meas<span class=\"_ _0\"></span>ured base<span class=\"_ _0\"></span>d on their sub<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>e. For non-p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t annuities wh<span class=\"_ _0\"></span>ich fall within the s<span class=\"_ _0\"></span>cope of IFR<span class=\"_ _0\"></span>S 17 they are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs256\">mea<span class=\"_ _0\"></span>sured usin<span class=\"_ _0\"></span>g the IFRS 17 G<span class=\"_ _0\"></span>eneral M<span class=\"_ _0\"></span>odel and t<span class=\"_ _0\"></span>he treatme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e non-profit c<span class=\"_ _0\"></span>ontract is c<span class=\"_ _0\"></span>onsiste<span class=\"_ _0\"></span>nt with the non<span class=\"_ _0\"></span>-profit annuitie<span class=\"_ _0\"></span>s within the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs257\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons seg<span class=\"_ _0\"></span>ment. Th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese non<span class=\"_ _0\"></span>-profit annuitie<span class=\"_ _0\"></span>s on the inco<span class=\"_ _0\"></span>me statem<span class=\"_ _0\"></span>ent, do<span class=\"_ _0\"></span>es not match th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in fair value </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs258\">mea<span class=\"_ _0\"></span>surement u<span class=\"_ _0\"></span>sed to mea<span class=\"_ _0\"></span>sure their ef<span class=\"_ _0\"></span>fect on th<span class=\"_ _0\"></span>e with-profit<span class=\"_ _0\"></span>s policyho<span class=\"_ _0\"></span>lders an<span class=\"_ _0\"></span>d therefore a mism<span class=\"_ _0\"></span>atch arises<span class=\"_ _0\"></span>. For unit-linked busin<span class=\"_ _0\"></span>ess whic<span class=\"_ _0\"></span>h falls </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs259\">within th<span class=\"_ _0\"></span>e scope of I<span class=\"_ _0\"></span>FRS 9 the liabilitie<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured in line with th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy for inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ith movement<span class=\"_ _0\"></span>s being </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs25a\">taken thro<span class=\"_ _0\"></span>ugh \u2018<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>hange in inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities\u2019<span class=\"_ _4\"></span>. M<span class=\"_ _0\"></span>ovement<span class=\"_ _0\"></span>s in the related a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s which are refle<span class=\"_ _0\"></span>cted in net inves<span class=\"_ _0\"></span>tment inc<span class=\"_ _0\"></span>ome large<span class=\"_ _0\"></span>ly match </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs25b\">the move<span class=\"_ _0\"></span>ments in the li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>. The ass<span class=\"_ _0\"></span>ets bac<span class=\"_ _0\"></span>king the non<span class=\"_ _0\"></span>-profit busine<span class=\"_ _0\"></span>ss in the with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>d are typic<span class=\"_ _0\"></span>ally me<span class=\"_ _0\"></span>asured at fair va<span class=\"_ _0\"></span>lue with </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs25c\">investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e and chan<span class=\"_ _0\"></span>ges in fair val<span class=\"_ _0\"></span>ue being inc<span class=\"_ _0\"></span>luded wit<span class=\"_ _0\"></span>hin net investm<span class=\"_ _0\"></span>ent income<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs25d\">The Europ<span class=\"_ _0\"></span>e &amp; Other s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt contains b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s consis<span class=\"_ _0\"></span>tent with that in the s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nts noted ab<span class=\"_ _0\"></span>ove and will mirror the re<span class=\"_ _0\"></span>lationship<span class=\"_ _0\"></span>s betwe<span class=\"_ _0\"></span>en net </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs25e\">investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e and insura<span class=\"_ _0\"></span>nce finan<span class=\"_ _0\"></span>ce (expens<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/inc<span class=\"_ _0\"></span>ome as note<span class=\"_ _0\"></span>d above for the releva<span class=\"_ _0\"></span>nt type of b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>. In addit<span class=\"_ _0\"></span>ion, this se<span class=\"_ _0\"></span>gment c<span class=\"_ _0\"></span>ontains </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs25f\">protec<span class=\"_ _0\"></span>tion busin<span class=\"_ _0\"></span>ess which u<span class=\"_ _0\"></span>ses a bot<span class=\"_ _0\"></span>tom-up disc<span class=\"_ _0\"></span>ount rate bas<span class=\"_ _0\"></span>ed on the lia<span class=\"_ _0\"></span>bility ch<span class=\"_ _0\"></span>aracte<span class=\"_ _0\"></span>ristic<span class=\"_ _0\"></span>s rather th<span class=\"_ _0\"></span>an being ba<span class=\"_ _0\"></span>sed on th<span class=\"_ _0\"></span>e backing a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs260\">which le<span class=\"_ _0\"></span>ads to mism<span class=\"_ _0\"></span>atches bet<span class=\"_ _0\"></span>ween n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income an<span class=\"_ _0\"></span>d insuran<span class=\"_ _0\"></span>ce financ<span class=\"_ _0\"></span>e (<span class=\"_ _2\"></span>exp<span class=\"_ _0\"></span>enses)/inc<span class=\"_ _0\"></span>ome.<span class=\"_ _3bd\"> </span></div>Employ<span class=\"_ _2\"></span>ee cos<span class=\"_ _0\"></span>ts comprise:<span class=\"_ _3bd\"> </span><table class=\"s w26d h21f\" id=\"_6052b32a-a3dc-4588-9d92-fbe3bd8f2d19\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba2 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5ba3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5ba3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b42 w35c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Wages and salaries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x703 y5b42 wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">677<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x726 y5b42 w35d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">603<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w35e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Soc<span class=\"_ _0\"></span>ial securit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ontri<span class=\"_ _2\"></span>b<span class=\"_ _0\"></span>utions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2c9 y5ba1 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">73<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2ca y5ba1 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5b44 w334 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x728 y5b44 w35f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">664<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w26d h220\" id=\"_8ab26166-d5fa-450e-9315-9f84ac3a9462\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba4 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba4 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x729 h29 y5ba5 ff3 fs5 fc3 sc0 ls65 wsc0\">Number<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c0 ha y5ba5 ff2 fs5 fc3 sc0 ls21 ws23\">Numbe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w360 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Av<span class=\"_ _2\"></span>erage number o<span class=\"_ _2\"></span>f persons employ<span class=\"_ _2\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72a y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72b y5a16 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr></table>C6<span class=\"_ _0\"></span>. Auditor\u2019<span class=\"_ _2\"></span>s remun<span class=\"_ _0\"></span>eration Durin<span class=\"_ _0\"></span>g the year the G<span class=\"_ _0\"></span>roup obtaine<span class=\"_ _0\"></span>d the following s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es from its a<span class=\"_ _0\"></span>uditor at cos<span class=\"_ _0\"></span>ts as det<span class=\"_ _0\"></span>ailed in the t<span class=\"_ _0\"></span>able below. In 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4, tot<span class=\"_ _0\"></span>al fees payab<span class=\"_ _0\"></span>le are in relatio<span class=\"_ _0\"></span>n to those payab<span class=\"_ _0\"></span>le to KPMG with the c<span class=\"_ _0\"></span>omparat<span class=\"_ _0\"></span>ive period inform<span class=\"_ _0\"></span>ation relating to fe<span class=\"_ _0\"></span>es payable to E<span class=\"_ _0\"></span>Y<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w26d h221\" id=\"_0ebd05a5-6ce9-41ad-b56a-7d62e5aabb4f\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba6 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba6 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5ba7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5ba7 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ba8 w361 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit of the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72c y5ba8 w11a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1eb ws209\">7.<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5ba8 w362 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ba ws1cd\">1<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>.7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba9 w363 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit of the C<span class=\"_ _0\"></span>ompany\u2019s subsidia<span class=\"_ _0\"></span>ries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72e y5ba9 w364 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">14.9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72f y5ba9 w365 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">12.9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x730 y5baa w366 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x731 y5baa w367 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bab w368 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit-rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d assur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x732 y5bab w270 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x733 y5bab w369 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bac w36a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other assurance services<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x734 y5bac w105 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">0.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x735 y5bac wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bad w36b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal f<span class=\"_ _2\"></span>ee for<span class=\"_ _2\"></span> assurance services<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x736 y5bad w36c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5bad w36d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28.<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bae w36e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">T<span class=\"_ _4\"></span>ot<span class=\"_ _0\"></span>al auditor\u2019<span class=\"_ _2\"></span>s re<span class=\"_ _0\"></span>muneration<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x736 y5bae w36c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5bae w36d h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28.<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>EY re<span class=\"_ _0\"></span>signed a<span class=\"_ _0\"></span>s auditor and KP<span class=\"_ _0\"></span>MG appointe<span class=\"_ _0\"></span>d effec<span class=\"_ _0\"></span>tive from 14 May 2024.<span class=\"_ _3bd\"> </span>No se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es were provide<span class=\"_ _0\"></span>d by the Comp<span class=\"_ _0\"></span>any\u2019<span class=\"_ _2\"></span>s au<span class=\"_ _0\"></span>ditors to the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes in eithe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 or 2<span class=\"_ _0\"></span>023. The de<span class=\"_ _0\"></span>creas<span class=\"_ _0\"></span>e in the audit fee d<span class=\"_ _0\"></span>uring 2024 principall<span class=\"_ _0\"></span>y reflect<span class=\"_ _0\"></span>s the reduc<span class=\"_ _0\"></span>tion in work und<span class=\"_ _0\"></span>erta<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>en in c<span class=\"_ _0\"></span>onnec<span class=\"_ _0\"></span>tion with the tr<span class=\"_ _0\"></span>ansition to IFR<span class=\"_ _0\"></span>S 17 which was complete in 2023.<span class=\"_ _3bd\"> </span>Audit-rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d assur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>s fees payabl<span class=\"_ _0\"></span>e for ser<span class=\"_ _0\"></span>vices whe<span class=\"_ _0\"></span>re the repor<span class=\"_ _0\"></span>ting is re<span class=\"_ _0\"></span>quired by law or re<span class=\"_ _0\"></span>gulation to be p<span class=\"_ _0\"></span>rovided by the auditor, such as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting on reg<span class=\"_ _0\"></span>ulatory ret<span class=\"_ _0\"></span>urns. It a<span class=\"_ _0\"></span>lso includ<span class=\"_ _0\"></span>es fees paya<span class=\"_ _0\"></span>ble in respe<span class=\"_ _0\"></span>ct of reviews of interim fin<span class=\"_ _0\"></span>ancial informa<span class=\"_ _0\"></span>tion and se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s where t<span class=\"_ _0\"></span>he work is integr<span class=\"_ _0\"></span>ated with the a<span class=\"_ _0\"></span>udit itse<span class=\"_ _0\"></span>lf<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Non-<span class=\"_ _0\"></span>audit ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s during the year of \u00a30<span class=\"_ _0\"></span>.2 million (202<span class=\"_ _0\"></span>3: \u00a3nil) were in respe<span class=\"_ _0\"></span>ct to ESG a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vices over key metri<span class=\"_ _0\"></span>cs repor<span class=\"_ _0\"></span>ted in th<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany\u2019<span class=\"_ _2\"></span>s an<span class=\"_ _0\"></span>nual repo<span class=\"_ _0\"></span>rt and s<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>ability re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the year end<span class=\"_ _0\"></span>ed 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Furth<span class=\"_ _0\"></span>er information on a<span class=\"_ _0\"></span>uditor\u2019s remuner<span class=\"_ _0\"></span>ation and the a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the in<span class=\"_ _0\"></span>depend<span class=\"_ _0\"></span>ence of the ex<span class=\"_ _0\"></span>ternal a<span class=\"_ _0\"></span>uditor is set o<span class=\"_ _0\"></span>ut in the Audit Co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>e repo<span class=\"_ _0\"></span>rt on pa<span class=\"_ _0\"></span>ges 92 to 9<span class=\"_ _0\"></span>9.<span class=\"_ _3bd\"> </span>C<span class=\"_ _2\"></span>7<span class=\"_ _4\"></span>. Finance costs<span class=\"_ _3bd\"> </span>Interes<span class=\"_ _0\"></span>t payable is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt as it accr<span class=\"_ _0\"></span>ues and is c<span class=\"_ _0\"></span>alculated u<span class=\"_ _0\"></span>sing the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span><table class=\"s w26d h222\" id=\"_299f0d26-56ac-4832-b271-228822ac6c6c\"><tr><td></td><td class=\"t m0 x1ce h29 y5baf ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5baf ff2 fs5 fc3 sc0 ls65 wsc0\">2023</td></tr><tr><td></td><td class=\"t m0 x737 h29 y5bb0 ff3 fs5 fc3 sc0 lsa0 ws9c\"> \u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bb0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bb1 ff2 fs6 fc3 sc0 ls12 ws13\">Inter<span class=\"_ _2\"></span>est expense<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bb2 w36f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">On fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x738 y5bb2 w70 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">288<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x739 y5bb2 w320 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">256<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb3 w370 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20 ws22\">On leases<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73a y5bb3 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73b y5bb3 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5b34 w371 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73c y5b34 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5bb4 ff2 fs6 fc3 sc0 ls1 ws1\">Attr<span class=\"_ _0\"></span>ibutable to:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w372 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">\u2013 policyholders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73d y5b24 w373 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73e y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w374 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">\u2013 owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73f y5b25 w14f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x740 y5b25 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5a16 w371 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73c y5a16 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr></table>C8<span class=\"_ _0\"></span>. T<span class=\"_ _4\"></span>ax cha<span class=\"_ _0\"></span>rge<span class=\"_ _3bd\"> </span>Inc<span class=\"_ _0\"></span>ome tax c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s current and defe<span class=\"_ _0\"></span>rred tax<span class=\"_ _0\"></span>. Inco<span class=\"_ _0\"></span>me tax is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt except to the ex<span class=\"_ _0\"></span>tent that it rel<span class=\"_ _0\"></span>ates to items re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the s<span class=\"_ _0\"></span>tatement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d compreh<span class=\"_ _0\"></span>ensive inco<span class=\"_ _0\"></span>me or the st<span class=\"_ _0\"></span>atement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, in whi<span class=\"_ _0\"></span>ch case i<span class=\"_ _0\"></span>t is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in these s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>Current t<span class=\"_ _0\"></span>ax is the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d tax payabl<span class=\"_ _0\"></span>e on the taxa<span class=\"_ _0\"></span>ble incom<span class=\"_ _0\"></span>e for the year, using tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e date of the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>osition tog<span class=\"_ _0\"></span>ether with a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ments to ta<span class=\"_ _0\"></span>x payable in res<span class=\"_ _0\"></span>pect of prev<span class=\"_ _0\"></span>ious years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>ax charg<span class=\"_ _0\"></span>e is analyse<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e in respec<span class=\"_ _0\"></span>t of policyh<span class=\"_ _0\"></span>olders\u2019 ret<span class=\"_ _0\"></span>urns and ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e on owners\u2019 retur<span class=\"_ _0\"></span>ns. C8<span class=\"_ _0\"></span>.1 Curren<span class=\"_ _0\"></span>t y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar tax c<span class=\"_ _0\"></span>harg<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span><table class=\"s w375 h223\" id=\"_58ceeaee-1427-4fcf-bb4e-0952d12e860b\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5bb5 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5bb6 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5bb7 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bb8 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bb9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bba ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bbb w376 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">UK corporation tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x741 y5bbb w2db h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x742 y5bbb wb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bbc w377 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">Overseas<span class=\"_ _2\"></span> tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x743 y5bbc w225 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls95 ws8e\">92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x744 y5bbc w378 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">110<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5bbd wc9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">134<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x745 y5bbd w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">138<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bbe w379 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>rior years<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x746 y5bbe w37a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x747 y5bbe w37b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(16)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bbf w37c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal cur<span class=\"_ _2\"></span>rent tax c<span class=\"_ _2\"></span>harge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x748 y5bbf w70 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">128<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e0 y5bbf w37d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5bc0 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bc1 w37e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Orig<span class=\"_ _0\"></span>ination and rever<span class=\"_ _0\"></span>sal of temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x749 y5bc1 w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(15<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74a y5bc1 w341 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">58<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bc2 w37f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in the rate of UK c<span class=\"_ _0\"></span>orporat<span class=\"_ _0\"></span>ion tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74b y5bc2 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74c y5bc2 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bc3 w380 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Write (up<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>down of deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74d y5bc3 w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74e y5bc3 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bc4 w382 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal d<span class=\"_ _0\"></span>eferred t<span class=\"_ _0\"></span>ax (credit<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74f y5bc4 w383 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(157<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x750 y5bc4 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">56<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bc5 w384 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal tax (<span class=\"_ _2\"></span>credi<span class=\"_ _2\"></span>t)/<span class=\"_ _4\"></span>charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x751 y5bc5 w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x752 y5bc5 w385 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5bc6 ff2 fs6 fc3 sc0 ls1 ws1\">Attr<span class=\"_ _0\"></span>ibutable to:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b42 w372 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">\u2013 policyholders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x753 y5b42 w1af h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">347<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x754 y5b42 w386 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w374 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">\u2013 owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x755 y5ba1 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>376<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x756 y5ba1 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w384 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal tax (<span class=\"_ _2\"></span>credi<span class=\"_ _2\"></span>t)/<span class=\"_ _4\"></span>charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x751 y5b44 w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x752 y5b44 w385 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up, as a prox<span class=\"_ _0\"></span>y f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r policyho<span class=\"_ _0\"></span>lders in th<span class=\"_ _0\"></span>e UK, is re<span class=\"_ _0\"></span>quired to pay ta<span class=\"_ _0\"></span>xes on investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e and gains e<span class=\"_ _0\"></span>ach year. According<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>e tax credi<span class=\"_ _0\"></span>t or expe<span class=\"_ _0\"></span>nse at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to UK life ass<span class=\"_ _0\"></span>urance po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er earning<span class=\"_ _0\"></span>s is include<span class=\"_ _0\"></span>d in incom<span class=\"_ _0\"></span>e tax expe<span class=\"_ _0\"></span>nse. Th<span class=\"_ _0\"></span>e tax cha<span class=\"_ _0\"></span>rge attrib<span class=\"_ _0\"></span>utable to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der earnin<span class=\"_ _0\"></span>gs was \u00a33<span class=\"_ _0\"></span>47 million (2023: \u00a3<span class=\"_ _0\"></span>184 m<span class=\"_ _0\"></span>illion charge).<span class=\"_ _3bd\"> </span>C8.<span class=\"_ _0\"></span>2 T<span class=\"_ _4\"></span>ax charged/<span class=\"_ _2\"></span>(credi<span class=\"_ _2\"></span>ted) to other<span class=\"_ _2\"></span> comprehensive income<span class=\"_ _3bd\"> </span><table class=\"s w387 h224\" id=\"_74b49e90-02d1-4eda-953b-bf17e02b7e09\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5bc7 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5bc8 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5bc9 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b42 w388 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax charg<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(credit<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x757 y5b42 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x758 y5b42 w1b0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w389 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax ch<span class=\"_ _0\"></span>arge/(<span class=\"_ _2\"></span>cre<span class=\"_ _0\"></span>dit) on defin<span class=\"_ _0\"></span>ed benefi<span class=\"_ _0\"></span>t schem<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71d y5ba1 w1b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x759 y5ba1 w1aa h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(20)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x75a y5b44 w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75b y5b44 w28f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>C8<span class=\"_ _0\"></span>.3 T<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>x cred<span class=\"_ _0\"></span>ited to eq<span class=\"_ _0\"></span>uity<span class=\"_ _3bd\"> </span><table class=\"s w38a h225\" id=\"_a610ee4a-a898-4cc5-ae0d-a53563572ad5\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5bcb ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5bcc ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5bcd w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bce ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bce ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w38b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Current a<span class=\"_ _0\"></span>nd deferred t<span class=\"_ _0\"></span>ax credit o<span class=\"_ _0\"></span>n Tier 1 Notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75c y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75d y5a16 w38c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>C8.4 Reconciliati<span class=\"_ _2\"></span>on of tax<span class=\"_ _2\"></span> (credi<span class=\"_ _2\"></span>t)/<span class=\"_ _4\"></span>charge<span class=\"_ _3bd\"> </span><table class=\"s w38d h226\" id=\"_b2c5397b-6c68-4ce0-af09-525d1347b6a7\"><tr><td></td><td></td><td class=\"t m0 x2ef ha y5bcf ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x75e h29 y5bd0 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x289 y5bd1 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x28a h29 y5bd2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5bd3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5a09 w38e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>profi<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the year before t<span class=\"_ _0\"></span>ax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75f y5a09 w86 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>107<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x760 y5a09 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a64 w38f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x761 y5a64 w2e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(3<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x762 y5a64 w352 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>84)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd4 w8b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit befor<span class=\"_ _0\"></span>e the tax a<span class=\"_ _0\"></span>ttrib<span class=\"_ _0\"></span>utable to o<span class=\"_ _0\"></span>wners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x763 y5bd4 w8c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x764 y5bd4 w8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5bd5 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax (credit<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge at st<span class=\"_ _0\"></span>andard U<span class=\"_ _0\"></span>K rate of 25% (2023:23<span class=\"_ _0\"></span>.5%)<span class=\"_ _3bd\"> </span></td><td class=\"c n x765 y5a40 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(36<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x766 y5a40 w390 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5a0c w391 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Non-taxable gains</div><div class=\"t m0 x767 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x768 y5a0c w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x769 y5a0c w392 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a0d w393 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Disallowable expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76a y5a0d w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76b y5a0d w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5a0e w394 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prior year t<span class=\"_ _0\"></span>ax (credit)/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge for share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s</div><div class=\"t m0 x76c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76d y5a0e w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76e y5a0e w204 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd6 w396 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent on acquire<span class=\"_ _0\"></span>d in-force amor<span class=\"_ _0\"></span>tisatio<span class=\"_ _0\"></span>n at rates other th<span class=\"_ _0\"></span>an 25% (2023: 23<span class=\"_ _0\"></span>.5%)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76f y5bd6 w397 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x770 y5bd6 w1b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5bd7 ff2 fs6 fc3 sc0 ls1 ws1\">Profits t<span class=\"_ _0\"></span>axed at rate<span class=\"_ _0\"></span>s other than 2<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% (20<span class=\"_ _0\"></span>23: 23.<span class=\"_ _0\"></span>5%)<span class=\"_ _3bd\"> </span></td><td class=\"c n x771 y5bb2 w25c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x772 y5bb2 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5bb3 w398 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Rec<span class=\"_ _0\"></span>ognition of previ<span class=\"_ _0\"></span>ously unre<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets</div><div class=\"t m0 x773 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76d y5bb3 w185 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x774 y5bb3 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(59)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd8 w399 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax rate c<span class=\"_ _0\"></span>hange<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x775 y5bd8 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x776 y5bd8 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd9 w39a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current ye<span class=\"_ _0\"></span>ar losse<span class=\"_ _0\"></span>s not value<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x777 y5bd9 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x778 y5bd9 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b7d w34c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76a y5b7d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x779 y5b7d w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a29 w39b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Own<span class=\"_ _0\"></span>ers\u2019 tax c<span class=\"_ _0\"></span>redit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77a y5a29 w39c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(37<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77b y5a29 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a2a w38f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77c y5a2a w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">3<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77d y5a2a w39d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">184<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 w39e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal t<span class=\"_ _0\"></span>ax (credi<span class=\"_ _0\"></span>t)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge for t<span class=\"_ _0\"></span>he year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77e y5a16 w39f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77f y5a16 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">178<span class=\"_ _3bd\"> </span></div></td></tr></table>2<span class=\"_ _3bd\"> </span>5<span class=\"_ _3bd\"> </span>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts. 2 <span class=\"_ _1a\"> </span>Th<span class=\"_ _0\"></span>e Phoe<span class=\"_ _0\"></span>nix op<span class=\"_ _0\"></span>erat<span class=\"_ _0\"></span>ing se<span class=\"_ _0\"></span>gmen<span class=\"_ _0\"></span>ts are pr<span class=\"_ _0\"></span>edom<span class=\"_ _0\"></span>inantl<span class=\"_ _0\"></span>y in the U<span class=\"_ _0\"></span>K. Th<span class=\"_ _0\"></span>e reco<span class=\"_ _0\"></span>ncili<span class=\"_ _0\"></span>ation of t<span class=\"_ _0\"></span>ax cha<span class=\"_ _0\"></span>rge ha<span class=\"_ _0\"></span>s there<span class=\"_ _0\"></span>fore, b<span class=\"_ _0\"></span>een c<span class=\"_ _0\"></span>omple<span class=\"_ _0\"></span>ted by ref<span class=\"_ _0\"></span>eren<span class=\"_ _0\"></span>ce to the s<span class=\"_ _0\"></span>tand<span class=\"_ _0\"></span>ard ra<span class=\"_ _0\"></span>te of UK ta<span class=\"_ _0\"></span>x. 3 <span class=\"_ _1a\"> </span>20<span class=\"_ _0\"></span>23 move<span class=\"_ _0\"></span>ment re<span class=\"_ _0\"></span>lates p<span class=\"_ _0\"></span>rinci<span class=\"_ _0\"></span>pally to a p<span class=\"_ _0\"></span>rofit ar<span class=\"_ _0\"></span>ising o<span class=\"_ _0\"></span>n cons<span class=\"_ _0\"></span>olida<span class=\"_ _0\"></span>tion du<span class=\"_ _0\"></span>e to the pu<span class=\"_ _0\"></span>rchas<span class=\"_ _0\"></span>e of the Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s Limit<span class=\"_ _0\"></span>ed (form<span class=\"_ _0\"></span>erly kn<span class=\"_ _0\"></span>own as S<span class=\"_ _0\"></span>LF of Can<span class=\"_ _0\"></span>ada U<span class=\"_ _0\"></span>K Limite<span class=\"_ _0\"></span>d), not s<span class=\"_ _0\"></span>ubje<span class=\"_ _0\"></span>ct to<span class=\"_ gs1f7\"> </span>def<span class=\"_ _0\"></span>erred t<span class=\"_ _0\"></span>ax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>4  T<span class=\"_ _0\"></span>he 2024 pr<span class=\"_ _0\"></span>ior yea<span class=\"_ _0\"></span>r tax ch<span class=\"_ _0\"></span>arge r<span class=\"_ _0\"></span>elate<span class=\"_ _0\"></span>s princ<span class=\"_ _0\"></span>ipall<span class=\"_ _0\"></span>y to true<span class=\"_ _0\"></span>-ups b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en gro<span class=\"_ _0\"></span>up rep<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>ng and s<span class=\"_ _0\"></span>tat<span class=\"_ _0\"></span>utor<span class=\"_ _0\"></span>y repor<span class=\"_ _0\"></span>tin<span class=\"_ _0\"></span>g and re<span class=\"_ _0\"></span>asse<span class=\"_ _0\"></span>ssm<span class=\"_ _0\"></span>ent of ta<span class=\"_ _0\"></span>x provi<span class=\"_ _0\"></span>sions<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>5 <span class=\"_ _1a\"> </span>Pro<span class=\"_ _0\"></span>fits ta<span class=\"_ _0\"></span>xed at r<span class=\"_ _0\"></span>ates oth<span class=\"_ _0\"></span>er tha<span class=\"_ _0\"></span>n 25%/23<span class=\"_ _0\"></span>.5% r<span class=\"_ _0\"></span>elate<span class=\"_ _0\"></span>s to overs<span class=\"_ _0\"></span>eas p<span class=\"_ _0\"></span>rofits<span class=\"_ _0\"></span>, con<span class=\"_ _0\"></span>solid<span class=\"_ _0\"></span>ated f<span class=\"_ _0\"></span>und inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nts an<span class=\"_ _0\"></span>d UK life c<span class=\"_ _0\"></span>ompa<span class=\"_ _0\"></span>ny profit<span class=\"_ _0\"></span>s subj<span class=\"_ _0\"></span>ect to m<span class=\"_ _0\"></span>argi<span class=\"_ _0\"></span>nal sh<span class=\"_ _0\"></span>areho<span class=\"_ _0\"></span>lder t<span class=\"_ _0\"></span>ax rate<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>6  Re<span class=\"_ _0\"></span>lates p<span class=\"_ _0\"></span>rinci<span class=\"_ _0\"></span>pally t<span class=\"_ _0\"></span>o reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment o<span class=\"_ _0\"></span>f deferr<span class=\"_ _0\"></span>ed ta<span class=\"_ _0\"></span>x asse<span class=\"_ _0\"></span>ts rec<span class=\"_ _0\"></span>ogni<span class=\"_ _0\"></span>tion re<span class=\"_ _0\"></span>latin<span class=\"_ _0\"></span>g to los<span class=\"_ _0\"></span>ses an<span class=\"_ _0\"></span>d refine<span class=\"_ _0\"></span>ment of d<span class=\"_ _0\"></span>eferre<span class=\"_ _0\"></span>d tax a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>wee<span class=\"_ _0\"></span>n tax ju<span class=\"_ _0\"></span>risdi<span class=\"_ _0\"></span>ction<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-666": {
   "value": "Fees re<span class=\"_ _0\"></span>lated to the provis<span class=\"_ _0\"></span>ion of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and adminis<span class=\"_ _0\"></span>tration se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s ser<span class=\"_ _0\"></span>vices are provid<span class=\"_ _0\"></span>ed. Front<span class=\"_ gs47\"> </span>end fees<span class=\"_ _0\"></span>, which are c<span class=\"_ _0\"></span>harged a<span class=\"_ _0\"></span>t the incepti<span class=\"_ _0\"></span>on of serv<span class=\"_ _0\"></span>ice contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, are deferred a<span class=\"_ _0\"></span>s a liabilit<span class=\"_ _0\"></span>y and reco<span class=\"_ _0\"></span>gnised ove<span class=\"_ _0\"></span>r the life of the contra<span class=\"_ _0\"></span>ct. No s<span class=\"_ _0\"></span>ignificant judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s are require<span class=\"_ _0\"></span>d in determining th<span class=\"_ _0\"></span>e timing or amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f fe<span class=\"_ _0\"></span>e income o<span class=\"_ _0\"></span>r the cost<span class=\"_ _0\"></span>s incurre<span class=\"_ _0\"></span>d to obtain or fulfil a c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Fee inc<span class=\"_ _0\"></span>ome from inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ithout DP<span class=\"_ _0\"></span>F does not in<span class=\"_ _0\"></span>clude amo<span class=\"_ _0\"></span>unts related to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der tax<span class=\"_ _0\"></span>.  Policyhol<span class=\"_ _0\"></span>der tax is c<span class=\"_ _0\"></span>ollecte<span class=\"_ _0\"></span>d through adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts to unit price<span class=\"_ _0\"></span>s and is therefore re<span class=\"_ _0\"></span>flecte<span class=\"_ _0\"></span>d in chang<span class=\"_ _0\"></span>e in in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below di<span class=\"_ _0\"></span>saggre<span class=\"_ _0\"></span>gates fe<span class=\"_ _0\"></span>es and comm<span class=\"_ _0\"></span>issions by s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-624": {
   "value": "C3. Net investment income Net investment income comprises interest, dividends, rents receivable, net interest income/(expense) on the Group defined benefit pension scheme asset/(liability), fair value gains and losses on financial assets (except for reinsurers\u2019 share of investment contract liabilities without DPF, see note E1), financial liabilities and investment property at fair value and impairment losses on loans and receivables. Interest income is recognised in the consolidated income statement as it accrues using the effective interest method. Dividend income is recognised in the consolidated income statement on the date the right to receive payment is established, which in the case of listed securities is the ex-dividend date. Rental income from investment property is recognised in the consolidated income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income. Fair value gains and losses on financial assets and financial liabilities designated at fair value through profit or loss are recognised in the consolidated income statement. Fair value gains and losses includes both realised and unrealised gains and losses. 2023 2024 restated1 \u00a3m \u00a3m Investment income Interest income on financial assets at amortised cost 31 37 Interest income on financial assets at FVTPL 4,363 3,901 Dividend income 6,403 5,923 Rental income 329 324 Net interest expense on Group defined benefit pension scheme liability/asset (restated)1 (56) (111) 11,070 10,074 Fair value gains/(losses) Financial assets and financial liabilities at FVTPL 7,882 11,126 Investment property (100) (362) 7,782 10,764 Net investment income 18,852 20,838 1  See note A3 for further details of the prior year restatements ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfNetInvestmentIncome",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-699": {
   "value": "Net inves<span class=\"_ _0\"></span>tment inc<span class=\"_ _0\"></span>ome comp<span class=\"_ _0\"></span>rises interes<span class=\"_ _0\"></span>t, divide<span class=\"_ _0\"></span>nds, re<span class=\"_ _0\"></span>nts rece<span class=\"_ _0\"></span>ivable, ne<span class=\"_ _0\"></span>t interest inc<span class=\"_ _0\"></span>ome/(<span class=\"_ _2\"></span>exp<span class=\"_ _0\"></span>ense) on the G<span class=\"_ _0\"></span>roup define<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ension sch<span class=\"_ _0\"></span>eme ass<span class=\"_ _0\"></span>et/(liabilit<span class=\"_ _0\"></span>y), fair value ga<span class=\"_ _0\"></span>ins and los<span class=\"_ _0\"></span>ses on finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets (except for re<span class=\"_ _0\"></span>insurers\u2019 sh<span class=\"_ _0\"></span>are of in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities with<span class=\"_ _0\"></span>out DPF<span class=\"_ _2\"></span>, se<span class=\"_ _0\"></span>e note E1), financi<span class=\"_ _0\"></span>al liabilities an<span class=\"_ _0\"></span>d investment p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty at fa<span class=\"_ _0\"></span>ir value and imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses on loa<span class=\"_ _0\"></span>ns and rec<span class=\"_ _0\"></span>eivables<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent as it acc<span class=\"_ _0\"></span>rues usin<span class=\"_ _0\"></span>g the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Divid<span class=\"_ _0\"></span>end incom<span class=\"_ _0\"></span>e is reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment on the date th<span class=\"_ _0\"></span>e right to rece<span class=\"_ _0\"></span>ive payment is es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed, whic<span class=\"_ _0\"></span>h in the cas<span class=\"_ _0\"></span>e of<span class=\"_ gs47\"> </span>liste<span class=\"_ _0\"></span>d securit<span class=\"_ _0\"></span>ies is the ex-divi<span class=\"_ _0\"></span>dend date.<span class=\"_ _3bd\"> </span>Renta<span class=\"_ _0\"></span>l income fro<span class=\"_ _0\"></span>m in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement on a s<span class=\"_ _0\"></span>traight-line b<span class=\"_ _0\"></span>asis over the term of th<span class=\"_ _0\"></span>e lease. Leas<span class=\"_ _0\"></span>e incentives g<span class=\"_ _0\"></span>ranted are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as an integ<span class=\"_ _0\"></span>ral par<span class=\"_ _0\"></span>t of the total renta<span class=\"_ _0\"></span>l income.<span class=\"_ _3bd\"> </span>Fair value g<span class=\"_ _0\"></span>ains and lo<span class=\"_ _0\"></span>sses on fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd financi<span class=\"_ _0\"></span>al liabilities de<span class=\"_ _0\"></span>signated a<span class=\"_ _0\"></span>t fair value<span class=\"_ gs47\"> </span>thro<span class=\"_ _0\"></span>ugh profit or los<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>. Fair value gain<span class=\"_ _0\"></span>s and loss<span class=\"_ _0\"></span>es inclu<span class=\"_ _0\"></span>des both reali<span class=\"_ _0\"></span>sed and unre<span class=\"_ _0\"></span>alised g<span class=\"_ _0\"></span>ains and lo<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-665": {
   "value": "Net investment income comprises interest, dividends, rents receivable, net interest income/(expense) on the Group defined benefit pension scheme asset/(liability), fair value gains and losses on financial assets (except for reinsurers\u2019 share of investment contract liabilities without DPF, see note E1), financial liabilities and investment property at fair value and impairment losses on loans and receivables. Interest income is recognised in the consolidated income statement as it accrues using the effective interest method. Dividend income is recognised in the consolidated income statement on the date the right to receive payment is established, which in the case of listed securities is the ex-dividend date. Rental income from investment property is recognised in the consolidated income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income. Fair value gains and losses on financial assets and financial liabilities designated at fair value through profit or loss are recognised in the consolidated income statement. Fair value gains and losses includes both realised and unrealised gains and losses. 2024 ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DescriptionOfAccountingPolicyForNetInvestmentIncome",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-691": {
   "value": "Insurance finance income and expenses comprise changes in the carrying amounts of groups of insurance contracts arising from the effects of the time value of money, financial risk and changes therein, unless any such changes for groups of direct participating contracts are allocated to a loss component and included in insurance service expenses. They include changes in the measurement of groups of contracts caused by changes in the value of underlying items. The Group presents insurance finance income or expenses in profit or loss. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DescriptionOfAccountingPolicyForNetInsuranceFinanceExpenseIncome",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-667": {
   "value": "Insur<span class=\"_ _0\"></span>ance fina<span class=\"_ _0\"></span>nce inco<span class=\"_ _0\"></span>me and expe<span class=\"_ _0\"></span>nses c<span class=\"_ _0\"></span>omprise ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s arising from t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>ts of the tim<span class=\"_ _0\"></span>e value of money, financ<span class=\"_ _0\"></span>ial risk and ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>s therein, un<span class=\"_ _0\"></span>less any su<span class=\"_ _0\"></span>ch chang<span class=\"_ _0\"></span>es for groups of dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts are alloc<span class=\"_ _0\"></span>ated to a los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent and incl<span class=\"_ _0\"></span>uded in insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s. They in<span class=\"_ _0\"></span>clude ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment of groups of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s caus<span class=\"_ _0\"></span>ed by chan<span class=\"_ _0\"></span>ges in the va<span class=\"_ _0\"></span>lue of underlyin<span class=\"_ _0\"></span>g items. T<span class=\"_ _0\"></span>he Group pre<span class=\"_ _0\"></span>sents ins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance inc<span class=\"_ _0\"></span>ome or expe<span class=\"_ _0\"></span>nses in profit or l<span class=\"_ _0\"></span>oss.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-625": {
   "value": "C5. E<span class=\"_ _0\"></span>xpenses<span class=\"_ _3bd\"> </span>Insuranc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> se<span class=\"_ _0\"></span>rvice expenses<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es arising from in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in profit or los<span class=\"_ _0\"></span>s gener<span class=\"_ _0\"></span>ally as they are in<span class=\"_ _0\"></span>curred. T<span class=\"_ _0\"></span>hey exclude repaym<span class=\"_ _0\"></span>ents of investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>onents an<span class=\"_ _0\"></span>d compris<span class=\"_ _0\"></span>e the following item<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent to liabilities for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims and ben<span class=\"_ _0\"></span>efits<span class=\"_ _0\"></span>, excluding inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>ponent<span class=\"_ _0\"></span>s reduce<span class=\"_ _0\"></span>d by loss co<span class=\"_ _0\"></span>mponent all<span class=\"_ _0\"></span>ocation<span class=\"_ _0\"></span>s; \u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r incurred dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able expen<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, including am<span class=\"_ _0\"></span>ounts of any othe<span class=\"_ _0\"></span>r pre-rec<span class=\"_ _0\"></span>ognition c<span class=\"_ _0\"></span>ash flows a<span class=\"_ _0\"></span>ssets (othe<span class=\"_ _0\"></span>r than insur<span class=\"_ _0\"></span>ance acq<span class=\"_ _0\"></span>uisition ca<span class=\"_ _0\"></span>sh flows) derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at the date of initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition; \u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation; \u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows as<span class=\"_ _0\"></span>sets im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>rever<span class=\"_ _0\"></span>sal of impairm<span class=\"_ _0\"></span>ent of asset<span class=\"_ _0\"></span>s for insuran<span class=\"_ _0\"></span>ce acqui<span class=\"_ _0\"></span>sition cas<span class=\"_ _0\"></span>h flows.<span class=\"_ _3bd\"> </span>Net income or e<span class=\"_ _2\"></span>xpense from reinsurance contracts held<span class=\"_ _3bd\"> </span>Inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>enses f<span class=\"_ _0\"></span>rom reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts are pre<span class=\"_ _0\"></span>sented s<span class=\"_ _0\"></span>eparatel<span class=\"_ _0\"></span>y from income a<span class=\"_ _0\"></span>nd expen<span class=\"_ _0\"></span>ses from ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. Inc<span class=\"_ _0\"></span>ome and expe<span class=\"_ _0\"></span>nses from re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, o<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>er than ins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance inc<span class=\"_ _0\"></span>ome or expe<span class=\"_ _0\"></span>nses<span class=\"_ _0\"></span>, are prese<span class=\"_ _0\"></span>nted on a net ba<span class=\"_ _0\"></span>sis as \u2018net expen<span class=\"_ _0\"></span>ses from reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 in th<span class=\"_ _0\"></span>e insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice resul<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Net ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s from reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts c<span class=\"_ _0\"></span>omprise an a<span class=\"_ _0\"></span>llocation of re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e premiums pa<span class=\"_ _0\"></span>id less am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>overed from rein<span class=\"_ _0\"></span>surers<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up recog<span class=\"_ _0\"></span>nises an all<span class=\"_ _0\"></span>ocation of rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e premiums pai<span class=\"_ _0\"></span>d in profit or loss a<span class=\"_ _0\"></span>s it receive<span class=\"_ _0\"></span>s ser<span class=\"_ _0\"></span>vices unde<span class=\"_ _0\"></span>r groups of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s. The all<span class=\"_ _0\"></span>ocation of rein<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>remiums pai<span class=\"_ _0\"></span>d relating to se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d for each p<span class=\"_ _0\"></span>eriod repre<span class=\"_ _0\"></span>sents th<span class=\"_ _0\"></span>e to<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>al of the chan<span class=\"_ _0\"></span>ges in the as<span class=\"_ _0\"></span>set for remain<span class=\"_ _0\"></span>ing coverag<span class=\"_ _0\"></span>e that relate<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces for which th<span class=\"_ _0\"></span>e Group expe<span class=\"_ _0\"></span>cts to pay c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span>Administr<span class=\"_ _0\"></span>ativ<span class=\"_ _2\"></span>e expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>Adminis<span class=\"_ _0\"></span>trative expe<span class=\"_ _0\"></span>nses are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tatement a<span class=\"_ _0\"></span>s incurred<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>T<span class=\"_ _2\"></span>otal exp<span class=\"_ _0\"></span>enses a<span class=\"_ _0\"></span>re analyse<span class=\"_ _0\"></span>d by expens<span class=\"_ _0\"></span>es t<span class=\"_ _0\"></span>ype as follows:<span class=\"_ _3bd\"> </span><table class=\"s w32c h21e\" id=\"_fc77e966-a7c3-408d-9cc8-0e09c33e5d90\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5b7e ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5b7f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5b80 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5b81 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b81 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5b83 w32d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd benefi<span class=\"_ _0\"></span>ts net of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>stated<span class=\"_ _0\"></span>)</div><div class=\"t m0 x6f5 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">1,3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f6 y5b83 w32e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f7 y5b83 w32f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b84 w330 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Revers<span class=\"_ _0\"></span>al of loss<span class=\"_ _0\"></span>es on onero<span class=\"_ _0\"></span>us insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f8 y5b84 w331 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x461 y5b84 w1bc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b85 w332 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cos<span class=\"_ _0\"></span>t of retroac<span class=\"_ _0\"></span>tive cover on reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5b85 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x36c y5b85 wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b86 w333 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Employ<span class=\"_ _2\"></span>ee cos<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fa y5b86 w334 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fb y5b86 w169 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">664<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b87 w335 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Out<span class=\"_ _0\"></span>source<span class=\"_ _0\"></span>r expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fc y5b87 w215 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e0 y5b87 w336 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6c ws1ca\">308<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b88 w337 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Prof<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>sional fees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fd y5b88 w70 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">285<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fe y5b88 w338 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">376<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b89 w339 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>mporar<span class=\"_ _0\"></span>y st<span class=\"_ _0\"></span>aff cos<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ff y5b89 w117 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">143<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x700 y5b89 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">167<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8a w33a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Audit fees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x701 y5b8a w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x702 y5b8a w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8b w33b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Commission expen<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x703 y5b8b we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">161<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x479 y5b8b w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">155<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8c w33c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Of<span class=\"_ _0\"></span>fice and I<span class=\"_ _0\"></span>T cost<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x704 y5b8c w1a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x705 y5b8c w2c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8d w33d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment management<span class=\"_ _2\"></span> expenses and t<span class=\"_ _2\"></span>ransaction costs<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x706 y5b8d w33e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">388<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x707 y5b8d w33f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8e w340 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Direc<span class=\"_ _0\"></span>t cos<span class=\"_ _0\"></span>ts of collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x708 y5b8e w25c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x709 y5b8e w341 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8f w342 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Depre<span class=\"_ _0\"></span>ciation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70a y5b8f wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70b y5b8f wac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b90 w343 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension p<span class=\"_ _0\"></span>ast se<span class=\"_ _0\"></span>rvice c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70c y5b90 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5b90 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b91 w344 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Pension administrative expen<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70e y5b91 w345 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70f y5b91 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b92 w346 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Adver<span class=\"_ _0\"></span>tising an<span class=\"_ _0\"></span>d sponso<span class=\"_ _0\"></span>rship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x710 y5b92 w347 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">58<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x711 y5b92 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">66<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b93 w348 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loss o<span class=\"_ _0\"></span>n completio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>uy-out of P<span class=\"_ _0\"></span>GL Pension S<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bilities (see n<span class=\"_ _0\"></span>ote B1.1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x712 y5b93 w349 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\"><span class=\"ff3 ls1e2 ws1fe\">208<span class=\"_ _75\"> </span></span>\u2013<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c n x1d4 y5b94 w34a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reg<span class=\"_ _0\"></span>ulatory fe<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x713 y5b94 w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x714 y5b94 w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b95 w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x715 y5b95 w1a1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">65<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x716 y5b95 w154 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x6f6 y5b96 w12e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">4<span class=\"_ _0\"></span>,24<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x717 y5b96 w34d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">3,<span class=\"_ _0\"></span>979<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b97 w34e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Acquis<span class=\"_ _0\"></span>ition cos<span class=\"_ _0\"></span>ts deferre<span class=\"_ _0\"></span>d during the year (res<span class=\"_ _0\"></span>tated)</div><div class=\"t m0 x718 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x669 y5b98 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x719 y5b98 w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b99 w34e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of deferred ac<span class=\"_ _0\"></span>quisition co<span class=\"_ _0\"></span>sts (res<span class=\"_ _0\"></span>tated)</div><div class=\"t m0 x718 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71a y5b99 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71b y5b99 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b9a w350 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts attr<span class=\"_ _0\"></span>ibuted to insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows inc<span class=\"_ _0\"></span>urred during th<span class=\"_ _0\"></span>e year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd y5b9a w351 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(1<span class=\"_ _2\"></span>79)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71c y5b9a w352 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b9b w353 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of insuranc<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion cash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71d y5b9b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d1 y5b9b w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b9c w354 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71e y5b9c w355 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,059<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71f y5b9c w26c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">3,<span class=\"_ _0\"></span>828<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5b9d ff2 fs6 fc3 sc0 lsd wsd\">Repor<span class=\"_ _0\"></span>ted within:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c x1d4 y5b9f w356 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es (restate<span class=\"_ _0\"></span>d)</div><div class=\"t m0 x720 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f6 y5b9f w10a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">4,<span class=\"_ _0\"></span>493<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x721 y5b9f w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>,335<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ba0 w357 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s from reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts</div><div class=\"t m0 x722 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f y5ba0 w358 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,259)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x723 y5ba0 w359 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,169)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x724 y5ba1 w35a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>825<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x725 y5ba1 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,662<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w354 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71e y5b44 w355 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,059<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71f y5b44 w26c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">3,<span class=\"_ _0\"></span>828<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted as p<span class=\"_ _0\"></span>art of t<span class=\"_ _0\"></span>he \u2018N<span class=\"_ _0\"></span>et exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s from re<span class=\"_ _0\"></span>insur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>\u2019 balan<span class=\"_ _0\"></span>ce in th<span class=\"_ _0\"></span>e cons<span class=\"_ _0\"></span>olida<span class=\"_ _0\"></span>ted inc<span class=\"_ _0\"></span>ome s<span class=\"_ _0\"></span>tatem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>Cl<span class=\"_ _0\"></span>aims an<span class=\"_ _0\"></span>d bene<span class=\"_ _0\"></span>fits is p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nted ne<span class=\"_ _0\"></span>t of reins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y but st<span class=\"_ _0\"></span>ated g<span class=\"_ _0\"></span>ross i<span class=\"_ _0\"></span>n the con<span class=\"_ _0\"></span>soli<span class=\"_ _0\"></span>dated i<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e stat<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Employ<span class=\"_ _2\"></span>ee cos<span class=\"_ _0\"></span>ts comprise:<span class=\"_ _3bd\"> </span><table class=\"s w26d h21f\" id=\"_6052b32a-a3dc-4588-9d92-fbe3bd8f2d19\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba2 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5ba3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5ba3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b42 w35c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Wages and salaries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x703 y5b42 wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">677<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x726 y5b42 w35d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">603<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w35e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Soc<span class=\"_ _0\"></span>ial securit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ontri<span class=\"_ _2\"></span>b<span class=\"_ _0\"></span>utions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2c9 y5ba1 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">73<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2ca y5ba1 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5b44 w334 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x728 y5b44 w35f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">664<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w26d h220\" id=\"_8ab26166-d5fa-450e-9315-9f84ac3a9462\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba4 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba4 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x729 h29 y5ba5 ff3 fs5 fc3 sc0 ls65 wsc0\">Number<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c0 ha y5ba5 ff2 fs5 fc3 sc0 ls21 ws23\">Numbe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w360 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Av<span class=\"_ _2\"></span>erage number o<span class=\"_ _2\"></span>f persons employ<span class=\"_ _2\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72a y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72b y5a16 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr></table>C6<span class=\"_ _0\"></span>. Auditor\u2019<span class=\"_ _2\"></span>s remun<span class=\"_ _0\"></span>eration Durin<span class=\"_ _0\"></span>g the year the G<span class=\"_ _0\"></span>roup obtaine<span class=\"_ _0\"></span>d the following s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es from its a<span class=\"_ _0\"></span>uditor at cos<span class=\"_ _0\"></span>ts as det<span class=\"_ _0\"></span>ailed in the t<span class=\"_ _0\"></span>able below. In 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4, tot<span class=\"_ _0\"></span>al fees payab<span class=\"_ _0\"></span>le are in relatio<span class=\"_ _0\"></span>n to those payab<span class=\"_ _0\"></span>le to KPMG with the c<span class=\"_ _0\"></span>omparat<span class=\"_ _0\"></span>ive period inform<span class=\"_ _0\"></span>ation relating to fe<span class=\"_ _0\"></span>es payable to E<span class=\"_ _0\"></span>Y<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w26d h221\" id=\"_0ebd05a5-6ce9-41ad-b56a-7d62e5aabb4f\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba6 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba6 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5ba7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5ba7 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ba8 w361 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit of the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72c y5ba8 w11a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1eb ws209\">7.<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5ba8 w362 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ba ws1cd\">1<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>.7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba9 w363 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit of the C<span class=\"_ _0\"></span>ompany\u2019s subsidia<span class=\"_ _0\"></span>ries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72e y5ba9 w364 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">14.9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72f y5ba9 w365 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">12.9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x730 y5baa w366 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x731 y5baa w367 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bab w368 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit-rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d assur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x732 y5bab w270 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x733 y5bab w369 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bac w36a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other assurance services<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x734 y5bac w105 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">0.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x735 y5bac wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bad w36b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal f<span class=\"_ _2\"></span>ee for<span class=\"_ _2\"></span> assurance services<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x736 y5bad w36c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5bad w36d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28.<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bae w36e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">T<span class=\"_ _4\"></span>ot<span class=\"_ _0\"></span>al auditor\u2019<span class=\"_ _2\"></span>s re<span class=\"_ _0\"></span>muneration<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x736 y5bae w36c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5bae w36d h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28.<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>EY re<span class=\"_ _0\"></span>signed a<span class=\"_ _0\"></span>s auditor and KP<span class=\"_ _0\"></span>MG appointe<span class=\"_ _0\"></span>d effec<span class=\"_ _0\"></span>tive from 14 May 2024.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs285\">No se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es were provide<span class=\"_ _0\"></span>d by the Comp<span class=\"_ _0\"></span>any\u2019<span class=\"_ _2\"></span>s au<span class=\"_ _0\"></span>ditors to the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes in eithe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 or 2<span class=\"_ _0\"></span>023. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs286\">The de<span class=\"_ _0\"></span>creas<span class=\"_ _0\"></span>e in the audit fee d<span class=\"_ _0\"></span>uring 2024 principall<span class=\"_ _0\"></span>y reflect<span class=\"_ _0\"></span>s the reduc<span class=\"_ _0\"></span>tion in work und<span class=\"_ _0\"></span>erta<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>en in c<span class=\"_ _0\"></span>onnec<span class=\"_ _0\"></span>tion with the tr<span class=\"_ _0\"></span>ansition to IFR<span class=\"_ _0\"></span>S 17 which </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1a ws1b gs287\">was complete in 2023.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs288\">Audit-rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d assur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>s fees payabl<span class=\"_ _0\"></span>e for ser<span class=\"_ _0\"></span>vices whe<span class=\"_ _0\"></span>re the repor<span class=\"_ _0\"></span>ting is re<span class=\"_ _0\"></span>quired by law or re<span class=\"_ _0\"></span>gulation to be p<span class=\"_ _0\"></span>rovided by the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs289\">auditor, such as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting on reg<span class=\"_ _0\"></span>ulatory ret<span class=\"_ _0\"></span>urns. It a<span class=\"_ _0\"></span>lso includ<span class=\"_ _0\"></span>es fees paya<span class=\"_ _0\"></span>ble in respe<span class=\"_ _0\"></span>ct of reviews of interim fin<span class=\"_ _0\"></span>ancial informa<span class=\"_ _0\"></span>tion and se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs28a\">where t<span class=\"_ _0\"></span>he work is integr<span class=\"_ _0\"></span>ated with the a<span class=\"_ _0\"></span>udit itse<span class=\"_ _0\"></span>lf<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs28b\">Non-<span class=\"_ _0\"></span>audit ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s during the year of \u00a30<span class=\"_ _0\"></span>.2 million (202<span class=\"_ _0\"></span>3: \u00a3nil) were in respe<span class=\"_ _0\"></span>ct to ESG a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vices over key metri<span class=\"_ _0\"></span>cs repor<span class=\"_ _0\"></span>ted in th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs28c\">Com<span class=\"_ _0\"></span>pany\u2019<span class=\"_ _2\"></span>s an<span class=\"_ _0\"></span>nual repo<span class=\"_ _0\"></span>rt and s<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>ability re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the year end<span class=\"_ _0\"></span>ed 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs28d\">Furth<span class=\"_ _0\"></span>er information on a<span class=\"_ _0\"></span>uditor\u2019s remuner<span class=\"_ _0\"></span>ation and the a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the in<span class=\"_ _0\"></span>depend<span class=\"_ _0\"></span>ence of the ex<span class=\"_ _0\"></span>ternal a<span class=\"_ _0\"></span>uditor is set o<span class=\"_ _0\"></span>ut in the Audit Co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs28e\">repo<span class=\"_ _0\"></span>rt on pa<span class=\"_ _0\"></span>ges 92 to 9<span class=\"_ _0\"></span>9.<span class=\"_ _3bd\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-668": {
   "value": "Insuranc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> se<span class=\"_ _0\"></span>rvice expenses<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es arising from in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in profit or los<span class=\"_ _0\"></span>s gener<span class=\"_ _0\"></span>ally as they are in<span class=\"_ _0\"></span>curred. T<span class=\"_ _0\"></span>hey exclude repaym<span class=\"_ _0\"></span>ents of investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>onents an<span class=\"_ _0\"></span>d compris<span class=\"_ _0\"></span>e the following item<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent to liabilities for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims and ben<span class=\"_ _0\"></span>efits<span class=\"_ _0\"></span>, excluding inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>ponent<span class=\"_ _0\"></span>s reduce<span class=\"_ _0\"></span>d by loss co<span class=\"_ _0\"></span>mponent all<span class=\"_ _0\"></span>ocation<span class=\"_ _0\"></span>s; \u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r incurred dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able expen<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, including am<span class=\"_ _0\"></span>ounts of any othe<span class=\"_ _0\"></span>r pre-rec<span class=\"_ _0\"></span>ognition c<span class=\"_ _0\"></span>ash flows a<span class=\"_ _0\"></span>ssets (othe<span class=\"_ _0\"></span>r than insur<span class=\"_ _0\"></span>ance acq<span class=\"_ _0\"></span>uisition ca<span class=\"_ _0\"></span>sh flows) derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at the date of initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition; \u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation; \u2022 <span class=\"_ _19\"> </span>ins<span class=\"_ _0\"></span>urance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows as<span class=\"_ _0\"></span>sets im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>rever<span class=\"_ _0\"></span>sal of impairm<span class=\"_ _0\"></span>ent of asset<span class=\"_ _0\"></span>s for insuran<span class=\"_ _0\"></span>ce acqui<span class=\"_ _0\"></span>sition cas<span class=\"_ _0\"></span>h flows.<span class=\"_ _3bd\"> </span>Net income or e<span class=\"_ _2\"></span>xpense from reinsurance contracts held<span class=\"_ _3bd\"> </span>Inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>enses f<span class=\"_ _0\"></span>rom reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts are pre<span class=\"_ _0\"></span>sented s<span class=\"_ _0\"></span>eparatel<span class=\"_ _0\"></span>y from income a<span class=\"_ _0\"></span>nd expen<span class=\"_ _0\"></span>ses from ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. Inc<span class=\"_ _0\"></span>ome and expe<span class=\"_ _0\"></span>nses from re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, o<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>er than ins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance inc<span class=\"_ _0\"></span>ome or expe<span class=\"_ _0\"></span>nses<span class=\"_ _0\"></span>, are prese<span class=\"_ _0\"></span>nted on a net ba<span class=\"_ _0\"></span>sis as \u2018net expen<span class=\"_ _0\"></span>ses from reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 in th<span class=\"_ _0\"></span>e insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice resul<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Net ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s from reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts c<span class=\"_ _0\"></span>omprise an a<span class=\"_ _0\"></span>llocation of re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e premiums pa<span class=\"_ _0\"></span>id less am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>overed from rein<span class=\"_ _0\"></span>surers<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up recog<span class=\"_ _0\"></span>nises an all<span class=\"_ _0\"></span>ocation of rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e premiums pai<span class=\"_ _0\"></span>d in profit or loss a<span class=\"_ _0\"></span>s it receive<span class=\"_ _0\"></span>s ser<span class=\"_ _0\"></span>vices unde<span class=\"_ _0\"></span>r groups of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s. The all<span class=\"_ _0\"></span>ocation of rein<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>remiums pai<span class=\"_ _0\"></span>d relating to se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d for each p<span class=\"_ _0\"></span>eriod repre<span class=\"_ _0\"></span>sents th<span class=\"_ _0\"></span>e to<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>al of the chan<span class=\"_ _0\"></span>ges in the as<span class=\"_ _0\"></span>set for remain<span class=\"_ _0\"></span>ing coverag<span class=\"_ _0\"></span>e that relate<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces for which th<span class=\"_ _0\"></span>e Group expe<span class=\"_ _0\"></span>cts to pay c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span>Administr<span class=\"_ _0\"></span>ativ<span class=\"_ _2\"></span>e expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>Adminis<span class=\"_ _0\"></span>trative expe<span class=\"_ _0\"></span>nses are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tatement a<span class=\"_ _0\"></span>s incurred<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-654": {
   "value": "Administrative expenses Administrative expenses are recognised in the consolidated income statement as incurred. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DescriptionOfAccountingPolicyForAdministrativeExpenses",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-655": {
   "value": "<div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs276\">T<span class=\"_ _2\"></span>otal exp<span class=\"_ _0\"></span>enses a<span class=\"_ _0\"></span>re analyse<span class=\"_ _0\"></span>d by expens<span class=\"_ _0\"></span>es t<span class=\"_ _0\"></span>ype as follows:<span class=\"_ _3bd\"> </span></div><div class=\"gs277\"><table class=\"s w32c h21e\" id=\"_fc77e966-a7c3-408d-9cc8-0e09c33e5d90\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5b7e ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5b7f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5b80 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5b81 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5b81 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5b83 w32d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd benefi<span class=\"_ _0\"></span>ts net of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>stated<span class=\"_ _0\"></span>)</div><div class=\"t m0 x6f5 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">1,3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f6 y5b83 w32e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f7 y5b83 w32f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b84 w330 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Revers<span class=\"_ _0\"></span>al of loss<span class=\"_ _0\"></span>es on onero<span class=\"_ _0\"></span>us insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f8 y5b84 w331 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x461 y5b84 w1bc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b85 w332 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cos<span class=\"_ _0\"></span>t of retroac<span class=\"_ _0\"></span>tive cover on reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5b85 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x36c y5b85 wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b86 w333 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Employ<span class=\"_ _2\"></span>ee cos<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fa y5b86 w334 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fb y5b86 w169 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">664<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b87 w335 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Out<span class=\"_ _0\"></span>source<span class=\"_ _0\"></span>r expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fc y5b87 w215 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e0 y5b87 w336 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6c ws1ca\">308<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b88 w337 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Prof<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>sional fees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fd y5b88 w70 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">285<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fe y5b88 w338 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">376<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b89 w339 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>mporar<span class=\"_ _0\"></span>y st<span class=\"_ _0\"></span>aff cos<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ff y5b89 w117 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">143<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x700 y5b89 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">167<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8a w33a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Audit fees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x701 y5b8a w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x702 y5b8a w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8b w33b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Commission expen<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x703 y5b8b we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">161<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x479 y5b8b w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">155<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8c w33c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Of<span class=\"_ _0\"></span>fice and I<span class=\"_ _0\"></span>T cost<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x704 y5b8c w1a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x705 y5b8c w2c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8d w33d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment management<span class=\"_ _2\"></span> expenses and t<span class=\"_ _2\"></span>ransaction costs<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x706 y5b8d w33e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">388<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x707 y5b8d w33f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8e w340 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Direc<span class=\"_ _0\"></span>t cos<span class=\"_ _0\"></span>ts of collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x708 y5b8e w25c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x709 y5b8e w341 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b8f w342 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Depre<span class=\"_ _0\"></span>ciation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70a y5b8f wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70b y5b8f wac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b90 w343 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension p<span class=\"_ _0\"></span>ast se<span class=\"_ _0\"></span>rvice c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70c y5b90 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5b90 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b91 w344 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Pension administrative expen<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70e y5b91 w345 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70f y5b91 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b92 w346 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Adver<span class=\"_ _0\"></span>tising an<span class=\"_ _0\"></span>d sponso<span class=\"_ _0\"></span>rship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x710 y5b92 w347 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">58<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x711 y5b92 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">66<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b93 w348 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loss o<span class=\"_ _0\"></span>n completio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>uy-out of P<span class=\"_ _0\"></span>GL Pension S<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bilities (see n<span class=\"_ _0\"></span>ote B1.1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x712 y5b93 w349 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\"><span class=\"ff3 ls1e2 ws1fe\">208<span class=\"_ _75\"> </span></span>\u2013<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c n x1d4 y5b94 w34a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reg<span class=\"_ _0\"></span>ulatory fe<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x713 y5b94 w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x714 y5b94 w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b95 w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x715 y5b95 w1a1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">65<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x716 y5b95 w154 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x6f6 y5b96 w12e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">4<span class=\"_ _0\"></span>,24<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x717 y5b96 w34d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">3,<span class=\"_ _0\"></span>979<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b97 w34e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Acquis<span class=\"_ _0\"></span>ition cos<span class=\"_ _0\"></span>ts deferre<span class=\"_ _0\"></span>d during the year (res<span class=\"_ _0\"></span>tated)</div><div class=\"t m0 x718 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x669 y5b98 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x719 y5b98 w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b99 w34e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of deferred ac<span class=\"_ _0\"></span>quisition co<span class=\"_ _0\"></span>sts (res<span class=\"_ _0\"></span>tated)</div><div class=\"t m0 x718 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71a y5b99 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71b y5b99 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b9a w350 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts attr<span class=\"_ _0\"></span>ibuted to insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows inc<span class=\"_ _0\"></span>urred during th<span class=\"_ _0\"></span>e year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd y5b9a w351 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(1<span class=\"_ _2\"></span>79)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71c y5b9a w352 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b9b w353 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of insuranc<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion cash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71d y5b9b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d1 y5b9b w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b9c w354 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71e y5b9c w355 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,059<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71f y5b9c w26c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">3,<span class=\"_ _0\"></span>828<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5b9d ff2 fs6 fc3 sc0 lsd wsd\">Repor<span class=\"_ _0\"></span>ted within:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c x1d4 y5b9f w356 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e expens<span class=\"_ _0\"></span>es (restate<span class=\"_ _0\"></span>d)</div><div class=\"t m0 x720 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f6 y5b9f w10a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">4,<span class=\"_ _0\"></span>493<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x721 y5b9f w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>,335<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ba0 w357 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s from reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts</div><div class=\"t m0 x722 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f y5ba0 w358 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,259)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x723 y5ba0 w359 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,169)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x724 y5ba1 w35a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>825<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x725 y5ba1 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,662<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w354 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71e y5b44 w355 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,059<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71f y5b44 w26c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">3,<span class=\"_ _0\"></span>828<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs278\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs279\">2 <span class=\"_ _1a\"> </span>Re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted as p<span class=\"_ _0\"></span>art of t<span class=\"_ _0\"></span>he \u2018N<span class=\"_ _0\"></span>et exp<span class=\"_ _0\"></span>ense<span class=\"_ _0\"></span>s from re<span class=\"_ _0\"></span>insur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>\u2019 balan<span class=\"_ _0\"></span>ce in th<span class=\"_ _0\"></span>e cons<span class=\"_ _0\"></span>olida<span class=\"_ _0\"></span>ted inc<span class=\"_ _0\"></span>ome s<span class=\"_ _0\"></span>tatem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs27a\">3 <span class=\"_ _1a\"> </span>Cl<span class=\"_ _0\"></span>aims an<span class=\"_ _0\"></span>d bene<span class=\"_ _0\"></span>fits is p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nted ne<span class=\"_ _0\"></span>t of reins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y but st<span class=\"_ _0\"></span>ated g<span class=\"_ _0\"></span>ross i<span class=\"_ _0\"></span>n the con<span class=\"_ _0\"></span>soli<span class=\"_ _0\"></span>dated i<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e stat<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lse wse gs27b\">Employ<span class=\"_ _2\"></span>ee cos<span class=\"_ _0\"></span>ts comprise:<span class=\"_ _3bd\"> </span></div><div class=\"gs27c\"><table class=\"s w26d h21f\" id=\"_6052b32a-a3dc-4588-9d92-fbe3bd8f2d19\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba2 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5ba3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5ba3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b42 w35c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Wages and salaries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x703 y5b42 wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">677<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x726 y5b42 w35d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">603<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w35e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Soc<span class=\"_ _0\"></span>ial securit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ontri<span class=\"_ _2\"></span>b<span class=\"_ _0\"></span>utions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2c9 y5ba1 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">73<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2ca y5ba1 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5b44 w334 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x728 y5b44 w35f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">664<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs27d\"><table class=\"s w26d h220\" id=\"_8ab26166-d5fa-450e-9315-9f84ac3a9462\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba4 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba4 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x729 h29 y5ba5 ff3 fs5 fc3 sc0 ls65 wsc0\">Number<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c0 ha y5ba5 ff2 fs5 fc3 sc0 ls21 ws23\">Numbe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w360 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Av<span class=\"_ _2\"></span>erage number o<span class=\"_ _2\"></span>f persons employ<span class=\"_ _2\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72a y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72b y5a16 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-645": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs27f\">C6<span class=\"_ _0\"></span>. Auditor\u2019<span class=\"_ _2\"></span>s remun<span class=\"_ _0\"></span>eration </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs280\">Durin<span class=\"_ _0\"></span>g the year the G<span class=\"_ _0\"></span>roup obtaine<span class=\"_ _0\"></span>d the following s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es from its a<span class=\"_ _0\"></span>uditor at cos<span class=\"_ _0\"></span>ts as det<span class=\"_ _0\"></span>ailed in the t<span class=\"_ _0\"></span>able below. In 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4, tot<span class=\"_ _0\"></span>al fees payab<span class=\"_ _0\"></span>le are in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs281\">relatio<span class=\"_ _0\"></span>n to those payab<span class=\"_ _0\"></span>le to KPMG with the c<span class=\"_ _0\"></span>omparat<span class=\"_ _0\"></span>ive period inform<span class=\"_ _0\"></span>ation relating to fe<span class=\"_ _0\"></span>es payable to E<span class=\"_ _0\"></span>Y<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs282\"><table class=\"s w26d h221\" id=\"_0ebd05a5-6ce9-41ad-b56a-7d62e5aabb4f\"><tr><td></td><td class=\"t m0 x1ce h29 y5ba6 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5ba6 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5ba7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5ba7 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ba8 w361 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit of the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted financi<span class=\"_ _0\"></span>al statem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72c y5ba8 w11a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1eb ws209\">7.<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5ba8 w362 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ba ws1cd\">1<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>.7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba9 w363 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit of the C<span class=\"_ _0\"></span>ompany\u2019s subsidia<span class=\"_ _0\"></span>ries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72e y5ba9 w364 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">14.9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72f y5ba9 w365 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">12.9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x730 y5baa w366 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x731 y5baa w367 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bab w368 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Audit-rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d assur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x732 y5bab w270 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x733 y5bab w369 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bac w36a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other assurance services<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x734 y5bac w105 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">0.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x735 y5bac wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bad w36b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal f<span class=\"_ _2\"></span>ee for<span class=\"_ _2\"></span> assurance services<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x736 y5bad w36c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5bad w36d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28.<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bae w36e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">T<span class=\"_ _4\"></span>ot<span class=\"_ _0\"></span>al auditor\u2019<span class=\"_ _2\"></span>s re<span class=\"_ _0\"></span>muneration<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x736 y5bae w36c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25.<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x72d y5bae w36d h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28.<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs283\">EY re<span class=\"_ _0\"></span>signed a<span class=\"_ _0\"></span>s auditor and KP<span class=\"_ _0\"></span>MG appointe<span class=\"_ _0\"></span>d effec<span class=\"_ _0\"></span>tive from 14 May 2024.<span class=\"_ _3bd\"> </span></div>No se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es were provide<span class=\"_ _0\"></span>d by the Comp<span class=\"_ _0\"></span>any\u2019<span class=\"_ _2\"></span>s au<span class=\"_ _0\"></span>ditors to the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes in eithe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 or 2<span class=\"_ _0\"></span>023. The de<span class=\"_ _0\"></span>creas<span class=\"_ _0\"></span>e in the audit fee d<span class=\"_ _0\"></span>uring 2024 principall<span class=\"_ _0\"></span>y reflect<span class=\"_ _0\"></span>s the reduc<span class=\"_ _0\"></span>tion in work und<span class=\"_ _0\"></span>erta<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>en in c<span class=\"_ _0\"></span>onnec<span class=\"_ _0\"></span>tion with the tr<span class=\"_ _0\"></span>ansition to IFR<span class=\"_ _0\"></span>S 17 which was complete in 2023.<span class=\"_ _3bd\"> </span>Audit-rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d assur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>s fees payabl<span class=\"_ _0\"></span>e for ser<span class=\"_ _0\"></span>vices whe<span class=\"_ _0\"></span>re the repor<span class=\"_ _0\"></span>ting is re<span class=\"_ _0\"></span>quired by law or re<span class=\"_ _0\"></span>gulation to be p<span class=\"_ _0\"></span>rovided by the auditor, such as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting on reg<span class=\"_ _0\"></span>ulatory ret<span class=\"_ _0\"></span>urns. It a<span class=\"_ _0\"></span>lso includ<span class=\"_ _0\"></span>es fees paya<span class=\"_ _0\"></span>ble in respe<span class=\"_ _0\"></span>ct of reviews of interim fin<span class=\"_ _0\"></span>ancial informa<span class=\"_ _0\"></span>tion and se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s where t<span class=\"_ _0\"></span>he work is integr<span class=\"_ _0\"></span>ated with the a<span class=\"_ _0\"></span>udit itse<span class=\"_ _0\"></span>lf<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Non-<span class=\"_ _0\"></span>audit ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s during the year of \u00a30<span class=\"_ _0\"></span>.2 million (202<span class=\"_ _0\"></span>3: \u00a3nil) were in respe<span class=\"_ _0\"></span>ct to ESG a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vices over key metri<span class=\"_ _0\"></span>cs repor<span class=\"_ _0\"></span>ted in th<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany\u2019<span class=\"_ _2\"></span>s an<span class=\"_ _0\"></span>nual repo<span class=\"_ _0\"></span>rt and s<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>ability re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the year end<span class=\"_ _0\"></span>ed 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Furth<span class=\"_ _0\"></span>er information on a<span class=\"_ _0\"></span>uditor\u2019s remuner<span class=\"_ _0\"></span>ation and the a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the in<span class=\"_ _0\"></span>depend<span class=\"_ _0\"></span>ence of the ex<span class=\"_ _0\"></span>ternal a<span class=\"_ _0\"></span>uditor is set o<span class=\"_ _0\"></span>ut in the Audit Co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>e repo<span class=\"_ _0\"></span>rt on pa<span class=\"_ _0\"></span>ges 92 to 9<span class=\"_ _0\"></span>9.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-646": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 lsd7 wsdb gs290\">C<span class=\"_ _2\"></span>7<span class=\"_ _4\"></span>. Finance costs<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs291\">Interes<span class=\"_ _0\"></span>t payable is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt as it accr<span class=\"_ _0\"></span>ues and is c<span class=\"_ _0\"></span>alculated u<span class=\"_ _0\"></span>sing the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"gs292\"><table class=\"s w26d h222\" id=\"_299f0d26-56ac-4832-b271-228822ac6c6c\"><tr><td></td><td class=\"t m0 x1ce h29 y5baf ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5baf ff2 fs5 fc3 sc0 ls65 wsc0\">2023</td></tr><tr><td></td><td class=\"t m0 x737 h29 y5bb0 ff3 fs5 fc3 sc0 lsa0 ws9c\"> \u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bb0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bb1 ff2 fs6 fc3 sc0 ls12 ws13\">Inter<span class=\"_ _2\"></span>est expense<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bb2 w36f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">On fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x738 y5bb2 w70 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">288<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x739 y5bb2 w320 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">256<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb3 w370 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20 ws22\">On leases<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73a y5bb3 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73b y5bb3 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5b34 w371 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73c y5b34 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5bb4 ff2 fs6 fc3 sc0 ls1 ws1\">Attr<span class=\"_ _0\"></span>ibutable to:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w372 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">\u2013 policyholders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73d y5b24 w373 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73e y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w374 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">\u2013 owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73f y5b25 w14f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x740 y5b25 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5a16 w371 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73c y5a16 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-692": {
   "value": "Interes<span class=\"_ _0\"></span>t payable is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt as it accr<span class=\"_ _0\"></span>ues and is c<span class=\"_ _0\"></span>alculated u<span class=\"_ _0\"></span>sing the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-626": {
   "value": "C8<span class=\"_ _0\"></span>. T<span class=\"_ _4\"></span>ax cha<span class=\"_ _0\"></span>rge<span class=\"_ _3bd\"> </span>Inc<span class=\"_ _0\"></span>ome tax c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s current and defe<span class=\"_ _0\"></span>rred tax<span class=\"_ _0\"></span>. Inco<span class=\"_ _0\"></span>me tax is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt except to the ex<span class=\"_ _0\"></span>tent that it rel<span class=\"_ _0\"></span>ates to items re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the s<span class=\"_ _0\"></span>tatement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d compreh<span class=\"_ _0\"></span>ensive inco<span class=\"_ _0\"></span>me or the st<span class=\"_ _0\"></span>atement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, in whi<span class=\"_ _0\"></span>ch case i<span class=\"_ _0\"></span>t is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in these s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>Current t<span class=\"_ _0\"></span>ax is the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d tax payabl<span class=\"_ _0\"></span>e on the taxa<span class=\"_ _0\"></span>ble incom<span class=\"_ _0\"></span>e for the year, using tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e date of the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>osition tog<span class=\"_ _0\"></span>ether with a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ments to ta<span class=\"_ _0\"></span>x payable in res<span class=\"_ _0\"></span>pect of prev<span class=\"_ _0\"></span>ious years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>ax charg<span class=\"_ _0\"></span>e is analyse<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e in respec<span class=\"_ _0\"></span>t of policyh<span class=\"_ _0\"></span>olders\u2019 ret<span class=\"_ _0\"></span>urns and ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e on owners\u2019 retur<span class=\"_ _0\"></span>ns. C8<span class=\"_ _0\"></span>.1 Curren<span class=\"_ _0\"></span>t y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar tax c<span class=\"_ _0\"></span>harg<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span><table class=\"s w375 h223\" id=\"_58ceeaee-1427-4fcf-bb4e-0952d12e860b\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5bb5 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5bb6 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5bb7 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bb8 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bb9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bba ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bbb w376 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">UK corporation tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x741 y5bbb w2db h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x742 y5bbb wb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bbc w377 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">Overseas<span class=\"_ _2\"></span> tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x743 y5bbc w225 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls95 ws8e\">92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x744 y5bbc w378 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">110<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x727 y5bbd wc9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">134<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x745 y5bbd w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">138<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bbe w379 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>rior years<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x746 y5bbe w37a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x747 y5bbe w37b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(16)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bbf w37c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal cur<span class=\"_ _2\"></span>rent tax c<span class=\"_ _2\"></span>harge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x748 y5bbf w70 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">128<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e0 y5bbf w37d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5bc0 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bc1 w37e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Orig<span class=\"_ _0\"></span>ination and rever<span class=\"_ _0\"></span>sal of temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x749 y5bc1 w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(15<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74a y5bc1 w341 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">58<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bc2 w37f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in the rate of UK c<span class=\"_ _0\"></span>orporat<span class=\"_ _0\"></span>ion tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74b y5bc2 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74c y5bc2 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bc3 w380 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Write (up<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>down of deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74d y5bc3 w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74e y5bc3 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bc4 w382 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal d<span class=\"_ _0\"></span>eferred t<span class=\"_ _0\"></span>ax (credit<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x74f y5bc4 w383 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(157<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x750 y5bc4 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">56<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bc5 w384 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal tax (<span class=\"_ _2\"></span>credi<span class=\"_ _2\"></span>t)/<span class=\"_ _4\"></span>charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x751 y5bc5 w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x752 y5bc5 w385 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5bc6 ff2 fs6 fc3 sc0 ls1 ws1\">Attr<span class=\"_ _0\"></span>ibutable to:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b42 w372 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">\u2013 policyholders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x753 y5b42 w1af h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">347<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x754 y5b42 w386 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w374 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">\u2013 owners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x755 y5ba1 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>376<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x756 y5ba1 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w384 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal tax (<span class=\"_ _2\"></span>credi<span class=\"_ _2\"></span>t)/<span class=\"_ _4\"></span>charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x751 y5b44 w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x752 y5b44 w385 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up, as a prox<span class=\"_ _0\"></span>y f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r policyho<span class=\"_ _0\"></span>lders in th<span class=\"_ _0\"></span>e UK, is re<span class=\"_ _0\"></span>quired to pay ta<span class=\"_ _0\"></span>xes on investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e and gains e<span class=\"_ _0\"></span>ach year. According<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>e tax credi<span class=\"_ _0\"></span>t or expe<span class=\"_ _0\"></span>nse at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to UK life ass<span class=\"_ _0\"></span>urance po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er earning<span class=\"_ _0\"></span>s is include<span class=\"_ _0\"></span>d in incom<span class=\"_ _0\"></span>e tax expe<span class=\"_ _0\"></span>nse. Th<span class=\"_ _0\"></span>e tax cha<span class=\"_ _0\"></span>rge attrib<span class=\"_ _0\"></span>utable to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der earnin<span class=\"_ _0\"></span>gs was \u00a33<span class=\"_ _0\"></span>47 million (2023: \u00a3<span class=\"_ _0\"></span>184 m<span class=\"_ _0\"></span>illion charge).<span class=\"_ _3bd\"> </span>C8.<span class=\"_ _0\"></span>2 T<span class=\"_ _4\"></span>ax charged/<span class=\"_ _2\"></span>(credi<span class=\"_ _2\"></span>ted) to other<span class=\"_ _2\"></span> comprehensive income<span class=\"_ _3bd\"> </span><table class=\"s w387 h224\" id=\"_74b49e90-02d1-4eda-953b-bf17e02b7e09\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5bc7 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5bc8 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5bc9 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b42 w388 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax charg<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(credit<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x757 y5b42 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x758 y5b42 w1b0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w389 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax ch<span class=\"_ _0\"></span>arge/(<span class=\"_ _2\"></span>cre<span class=\"_ _0\"></span>dit) on defin<span class=\"_ _0\"></span>ed benefi<span class=\"_ _0\"></span>t schem<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71d y5ba1 w1b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x759 y5ba1 w1aa h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(20)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x75a y5b44 w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75b y5b44 w28f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>C8<span class=\"_ _0\"></span>.3 T<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>x cred<span class=\"_ _0\"></span>ited to eq<span class=\"_ _0\"></span>uity<span class=\"_ _3bd\"> </span><table class=\"s w38a h225\" id=\"_a610ee4a-a898-4cc5-ae0d-a53563572ad5\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y5bcb ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5bcc ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5bcd w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bce ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bce ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w38b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Current a<span class=\"_ _0\"></span>nd deferred t<span class=\"_ _0\"></span>ax credit o<span class=\"_ _0\"></span>n Tier 1 Notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75c y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75d y5a16 w38c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>C8.4 Reconciliati<span class=\"_ _2\"></span>on of tax<span class=\"_ _2\"></span> (credi<span class=\"_ _2\"></span>t)/<span class=\"_ _4\"></span>charge<span class=\"_ _3bd\"> </span><table class=\"s w38d h226\" id=\"_b2c5397b-6c68-4ce0-af09-525d1347b6a7\"><tr><td></td><td></td><td class=\"t m0 x2ef ha y5bcf ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x75e h29 y5bd0 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x289 y5bd1 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x28a h29 y5bd2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5bd3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5a09 w38e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>profi<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the year before t<span class=\"_ _0\"></span>ax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75f y5a09 w86 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>107<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x760 y5a09 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a64 w38f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x761 y5a64 w2e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(3<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x762 y5a64 w352 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>84)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd4 w8b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit befor<span class=\"_ _0\"></span>e the tax a<span class=\"_ _0\"></span>ttrib<span class=\"_ _0\"></span>utable to o<span class=\"_ _0\"></span>wners<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x763 y5bd4 w8c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x764 y5bd4 w8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5bd5 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax (credit<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge at st<span class=\"_ _0\"></span>andard U<span class=\"_ _0\"></span>K rate of 25% (2023:23<span class=\"_ _0\"></span>.5%)<span class=\"_ _3bd\"> </span></td><td class=\"c n x765 y5a40 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(36<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x766 y5a40 w390 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5a0c w391 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Non-taxable gains</div><div class=\"t m0 x767 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x768 y5a0c w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x769 y5a0c w392 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a0d w393 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Disallowable expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76a y5a0d w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76b y5a0d w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5a0e w394 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prior year t<span class=\"_ _0\"></span>ax (credit)/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge for share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s</div><div class=\"t m0 x76c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76d y5a0e w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76e y5a0e w204 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd6 w396 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent on acquire<span class=\"_ _0\"></span>d in-force amor<span class=\"_ _0\"></span>tisatio<span class=\"_ _0\"></span>n at rates other th<span class=\"_ _0\"></span>an 25% (2023: 23<span class=\"_ _0\"></span>.5%)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76f y5bd6 w397 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x770 y5bd6 w1b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5bd7 ff2 fs6 fc3 sc0 ls1 ws1\">Profits t<span class=\"_ _0\"></span>axed at rate<span class=\"_ _0\"></span>s other than 2<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% (20<span class=\"_ _0\"></span>23: 23.<span class=\"_ _0\"></span>5%)<span class=\"_ _3bd\"> </span></td><td class=\"c n x771 y5bb2 w25c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x772 y5bb2 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5bb3 w398 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Rec<span class=\"_ _0\"></span>ognition of previ<span class=\"_ _0\"></span>ously unre<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets</div><div class=\"t m0 x773 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76d y5bb3 w185 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x774 y5bb3 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(59)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd8 w399 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax rate c<span class=\"_ _0\"></span>hange<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x775 y5bd8 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x776 y5bd8 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd9 w39a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current ye<span class=\"_ _0\"></span>ar losse<span class=\"_ _0\"></span>s not value<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x777 y5bd9 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x778 y5bd9 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b7d w34c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76a y5b7d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x779 y5b7d w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a29 w39b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Own<span class=\"_ _0\"></span>ers\u2019 tax c<span class=\"_ _0\"></span>redit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77a y5a29 w39c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(37<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77b y5a29 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a2a w38f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77c y5a2a w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">3<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77d y5a2a w39d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">184<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 w39e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal t<span class=\"_ _0\"></span>ax (credi<span class=\"_ _0\"></span>t)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ch<span class=\"_ _0\"></span>arge for t<span class=\"_ _0\"></span>he year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77e y5a16 w39f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x77f y5a16 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">178<span class=\"_ _3bd\"> </span></div></td></tr></table>2<span class=\"_ _3bd\"> </span>5<span class=\"_ _3bd\"> </span>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts. 2 <span class=\"_ _1a\"> </span>Th<span class=\"_ _0\"></span>e Phoe<span class=\"_ _0\"></span>nix op<span class=\"_ _0\"></span>erat<span class=\"_ _0\"></span>ing se<span class=\"_ _0\"></span>gmen<span class=\"_ _0\"></span>ts are pr<span class=\"_ _0\"></span>edom<span class=\"_ _0\"></span>inantl<span class=\"_ _0\"></span>y in the U<span class=\"_ _0\"></span>K. Th<span class=\"_ _0\"></span>e reco<span class=\"_ _0\"></span>ncili<span class=\"_ _0\"></span>ation of t<span class=\"_ _0\"></span>ax cha<span class=\"_ _0\"></span>rge ha<span class=\"_ _0\"></span>s there<span class=\"_ _0\"></span>fore, b<span class=\"_ _0\"></span>een c<span class=\"_ _0\"></span>omple<span class=\"_ _0\"></span>ted by ref<span class=\"_ _0\"></span>eren<span class=\"_ _0\"></span>ce to the s<span class=\"_ _0\"></span>tand<span class=\"_ _0\"></span>ard ra<span class=\"_ _0\"></span>te of UK ta<span class=\"_ _0\"></span>x. 3 <span class=\"_ _1a\"> </span>20<span class=\"_ _0\"></span>23 move<span class=\"_ _0\"></span>ment re<span class=\"_ _0\"></span>lates p<span class=\"_ _0\"></span>rinci<span class=\"_ _0\"></span>pally to a p<span class=\"_ _0\"></span>rofit ar<span class=\"_ _0\"></span>ising o<span class=\"_ _0\"></span>n cons<span class=\"_ _0\"></span>olida<span class=\"_ _0\"></span>tion du<span class=\"_ _0\"></span>e to the pu<span class=\"_ _0\"></span>rchas<span class=\"_ _0\"></span>e of the Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s Limit<span class=\"_ _0\"></span>ed (form<span class=\"_ _0\"></span>erly kn<span class=\"_ _0\"></span>own as S<span class=\"_ _0\"></span>LF of Can<span class=\"_ _0\"></span>ada U<span class=\"_ _0\"></span>K Limite<span class=\"_ _0\"></span>d), not s<span class=\"_ _0\"></span>ubje<span class=\"_ _0\"></span>ct to<span class=\"_ gs1f7\"> </span>def<span class=\"_ _0\"></span>erred t<span class=\"_ _0\"></span>ax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>4  T<span class=\"_ _0\"></span>he 2024 pr<span class=\"_ _0\"></span>ior yea<span class=\"_ _0\"></span>r tax ch<span class=\"_ _0\"></span>arge r<span class=\"_ _0\"></span>elate<span class=\"_ _0\"></span>s princ<span class=\"_ _0\"></span>ipall<span class=\"_ _0\"></span>y to true<span class=\"_ _0\"></span>-ups b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en gro<span class=\"_ _0\"></span>up rep<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>ng and s<span class=\"_ _0\"></span>tat<span class=\"_ _0\"></span>utor<span class=\"_ _0\"></span>y repor<span class=\"_ _0\"></span>tin<span class=\"_ _0\"></span>g and re<span class=\"_ _0\"></span>asse<span class=\"_ _0\"></span>ssm<span class=\"_ _0\"></span>ent of ta<span class=\"_ _0\"></span>x provi<span class=\"_ _0\"></span>sions<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>5 <span class=\"_ _1a\"> </span>Pro<span class=\"_ _0\"></span>fits ta<span class=\"_ _0\"></span>xed at r<span class=\"_ _0\"></span>ates oth<span class=\"_ _0\"></span>er tha<span class=\"_ _0\"></span>n 25%/23<span class=\"_ _0\"></span>.5% r<span class=\"_ _0\"></span>elate<span class=\"_ _0\"></span>s to overs<span class=\"_ _0\"></span>eas p<span class=\"_ _0\"></span>rofits<span class=\"_ _0\"></span>, con<span class=\"_ _0\"></span>solid<span class=\"_ _0\"></span>ated f<span class=\"_ _0\"></span>und inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nts an<span class=\"_ _0\"></span>d UK life c<span class=\"_ _0\"></span>ompa<span class=\"_ _0\"></span>ny profit<span class=\"_ _0\"></span>s subj<span class=\"_ _0\"></span>ect to m<span class=\"_ _0\"></span>argi<span class=\"_ _0\"></span>nal sh<span class=\"_ _0\"></span>areho<span class=\"_ _0\"></span>lder t<span class=\"_ _0\"></span>ax rate<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>6  Re<span class=\"_ _0\"></span>lates p<span class=\"_ _0\"></span>rinci<span class=\"_ _0\"></span>pally t<span class=\"_ _0\"></span>o reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment o<span class=\"_ _0\"></span>f deferr<span class=\"_ _0\"></span>ed ta<span class=\"_ _0\"></span>x asse<span class=\"_ _0\"></span>ts rec<span class=\"_ _0\"></span>ogni<span class=\"_ _0\"></span>tion re<span class=\"_ _0\"></span>latin<span class=\"_ _0\"></span>g to los<span class=\"_ _0\"></span>ses an<span class=\"_ _0\"></span>d refine<span class=\"_ _0\"></span>ment of d<span class=\"_ _0\"></span>eferre<span class=\"_ _0\"></span>d tax a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>wee<span class=\"_ _0\"></span>n tax ju<span class=\"_ _0\"></span>risdi<span class=\"_ _0\"></span>ction<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>G8. T<span class=\"_ _2\"></span>ax assets and liabilities<span class=\"_ _3bd\"> </span>Deferre<span class=\"_ _0\"></span>d tax is provi<span class=\"_ _0\"></span>ded for on temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities for finan<span class=\"_ _0\"></span>cial repor<span class=\"_ _0\"></span>ting pur<span class=\"_ _0\"></span>poses an<span class=\"_ _0\"></span>d the am<span class=\"_ _0\"></span>ounts use<span class=\"_ _0\"></span>d for taxati<span class=\"_ _0\"></span>on purpos<span class=\"_ _0\"></span>es. Defe<span class=\"_ _0\"></span>rred tax i<span class=\"_ _0\"></span>s not provided in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e initial rec<span class=\"_ _0\"></span>ognition of g<span class=\"_ _0\"></span>oodwill and t<span class=\"_ _0\"></span>he initial rec<span class=\"_ _0\"></span>ognition of as<span class=\"_ _0\"></span>sets or liab<span class=\"_ _0\"></span>ilities in a trans<span class=\"_ _0\"></span>action t<span class=\"_ _0\"></span>hat is not a busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbination an<span class=\"_ _0\"></span>d that, at th<span class=\"_ _0\"></span>e time of the trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>, affe<span class=\"_ _0\"></span>cts nei<span class=\"_ _0\"></span>ther acc<span class=\"_ _0\"></span>ounting nor tax<span class=\"_ _0\"></span>able profit. T<span class=\"_ _0\"></span>he amount of deferre<span class=\"_ _0\"></span>d tax provid<span class=\"_ _0\"></span>ed is bas<span class=\"_ _0\"></span>ed on the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d manner of re<span class=\"_ _0\"></span>alisation or s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of the ca<span class=\"_ _0\"></span>rrying a<span class=\"_ _0\"></span>mount of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities, u<span class=\"_ _0\"></span>sing tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span>A deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d only to the ex<span class=\"_ _0\"></span>tent that it is pro<span class=\"_ _0\"></span>bable that f<span class=\"_ _0\"></span>uture tax<span class=\"_ _0\"></span>able profits will b<span class=\"_ _0\"></span>e available ag<span class=\"_ _0\"></span>ainst whi<span class=\"_ _0\"></span>ch the ass<span class=\"_ _0\"></span>et can be utilise<span class=\"_ _0\"></span>d. Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d to the extent t<span class=\"_ _0\"></span>hat it is no lon<span class=\"_ _0\"></span>ger proba<span class=\"_ _0\"></span>ble that the re<span class=\"_ _0\"></span>lated tax b<span class=\"_ _0\"></span>enefit will b<span class=\"_ _0\"></span>e realised<span class=\"_ _0\"></span>. <table class=\"s wa34 h2b2\" id=\"_fb7e87a5-b6ee-4241-ab6e-3fb494ea6c41\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y61e0 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y61e1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y61e2 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y61e3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61e3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y61e4 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae4 wa35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax rece<span class=\"_ _0\"></span>ivable<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d24 y5ae4 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">523<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d25 y5ae4 w101 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5e wsb2\">502<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wa36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax payable<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3f y5ae5 wa02 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d26 y5ae5 wa37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y61e5 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a15 wfb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d27 y5a15 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d28 y5a15 wa38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">143<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a16 wa39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax liab<span class=\"_ _0\"></span>ilities (resta<span class=\"_ _0\"></span>ted)</div><div class=\"t m0 x1d29 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x730 y5a16 w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x33b y5a16 w1ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span>Movement in deferred tax liabilities<span class=\"_ _3bd\"> </span><table class=\"s wa3a h2b3\" id=\"_d6c8aa67-241e-467b-bf02-fcaed74001f5\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x972 h29 y61e6 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n </td><td class=\"t m0 x75e h29 y61e6 ff3 fs5 fc3 sc0 lsa ws9\">Recognise<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x3bd h29 y61e7 ff3 fs5 fc3 sc0 ls8d ws86\">consolidated </td><td class=\"t m0 x1705 h29 y61e7 ff3 fs5 fc3 sc0 ls1b9 wsc0\"> in other </td><td></td></tr><tr><td></td><td class=\"t m0 x3a4 h29 y61e8 ff3 fs5 fc3 sc0 lsbe wsbe\">1 January<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x49b h29 y61e8 ff3 fs5 fc3 sc0 lsbe wsbe\">1 January<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y61e8 ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td class=\"t m0 xcbf h29 y61e8 ff3 fs5 fc3 sc0 ls1f6 ws215\">comprehensive </td><td></td></tr><tr><td></td><td class=\"t m0 x1967 h29 y61e9 ff3 fs5 fc3 sc0 ls1 ws1\">as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></td><td class=\"c x1d2b y61ea wa3b h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Restate<span class=\"_ _0\"></span>ments</div><div class=\"t m0 x1d2a h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d2d y61ea wa3c h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">restate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1d2c h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x1d2e h29 y61e9 ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ee h29 y61e9 ff3 fs5 fc3 sc0 ls1b9 ws1cc\">income<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa30 h29 y61e9 ff3 fs5 fc3 sc0 lsbe wsbe\">31 December<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y61eb ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y61eb ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 x2e0 h29 y61eb ff3 fs5 fc3 sc0 ls1f7 ws5c\">\u00a3m<span class=\"_ _0\"></span> </td><td class=\"t m0 x28b h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y61ec wa3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ading los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d2f y61ec w8b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">355<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d30 y61ec w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d31 y61ec w179 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d32 y61ec w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d33 y61ec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d34 y61ec w3c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">536<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ed wa3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Capital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d35 y61ed w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d36 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x112f y61ed w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d37 y61ed w9f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d38 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d39 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ee wa3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s and deferre<span class=\"_ _0\"></span>d acquisit<span class=\"_ _0\"></span>ion cost<span class=\"_ _0\"></span>s carrie<span class=\"_ _0\"></span>d forward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3a y61ee w86e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">422<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3b y61ee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3c y61ee w1c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3d y61ee w80 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>177<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3e y61ee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3f y61ee w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">245<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ef wa40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Provision<span class=\"_ _0\"></span>s and other temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differe<span class=\"_ _0\"></span>nces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d40 y61ef w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d41 y61ef w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d42 y61ef wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d43 y61ef w4f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d44 y61ef we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d45 y61ef w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61f0 wa41 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>refundable p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme sur<span class=\"_ _0\"></span>plus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d46 y61f0 w70b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d47 y61f0 w345 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d48 y61f0 w766 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d49 y61f0 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4a y61f0 wa42 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4b y61f0 w395 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">(57<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61f1 w95f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>d future pen<span class=\"_ _0\"></span>sion contrib<span class=\"_ _0\"></span>utions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4c y61f1 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4d y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4e y61f1 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4f y61f1 w381 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d50 y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d51 y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f2 wa43 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ansition<span class=\"_ _0\"></span>al adjus<span class=\"_ _0\"></span>tment relat<span class=\"_ _0\"></span>ing to IFRS 9/17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d52 y61f2 w825 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d53 y61f2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d54 y61f2 wcc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d55 y61f2 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d56 y61f2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d57 y61f2 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f3 wa44 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Acceler<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>apital allowances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d58 y61f3 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d59 y61f3 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5a y61f3 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bc y61f3 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5b y61f3 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5c y61f3 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f4 wa45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5d y61f4 wa46 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe4 y61f4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5e y61f4 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5f y61f4 w704 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d60 y61f4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d61 y61f4 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f5 wce h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Acquire<span class=\"_ _0\"></span>d in-force busin<span class=\"_ _0\"></span>ess<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d62 y61f5 w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d63 y61f5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d64 y61f5 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d65 y61f5 wa2e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d66 y61f5 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d67 y61f5 wa47 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(31<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d08 wa48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cus<span class=\"_ _0\"></span>tomer relati<span class=\"_ _0\"></span>onships<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131f y5d08 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5d08 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d68 y5d08 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d69 y5d08 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6a y5d08 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6b y5d08 wa49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 wa4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unrea<span class=\"_ _0\"></span>lised ga<span class=\"_ _0\"></span>ins<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6c y5c49 w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6d y5c49 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6e y5c49 w66d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6f y5c49 wa4b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d70 y5c49 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d71 y5c49 w4d8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 wa4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en loca<span class=\"_ _0\"></span>l G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP and IFR<span class=\"_ _0\"></span>S<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1497 y5c15 w70b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d72 y5c15 w49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>124)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d73 y5c15 w49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>242)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d74 y5c15 w2c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d75 y5c15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d76 y5c15 w503 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(69)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c4b w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d77 y5c4b w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a5 y5c4b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d78 y5c4b w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d79 y5c4b w4d3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7a y5c4b we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7b y5c4b w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x934 y5a16 w66d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(114)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7c y5a16 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7d y5a16 w80 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>177<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7e y5a16 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">157<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7f y5a16 w1d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d80 y5a16 w2d6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s wa4d h2b4\" id=\"_3680de8e-9cc2-439e-ae38-60596358d4a4\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x499 ha y61f6 ff2 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x1251 ha y61f7 ff2 fs5 fc3 sc0 ls11 ws11\">consolidated </td><td class=\"t m13f x2e5 ha y61f7 ff2 fs5 fc3 sc0 ls9c ws97\">Recognis<span class=\"_ _0\"></span>ed <span class=\"_ _2\"></span><span class=\"ls1 ws1\"> </span></td><td class=\"t m0 xa12 ha y61f7 ff2 fs5 fc3 sc0 ls1 ws1\">Pho<span class=\"_ _0\"></span>enix L<span class=\"_ _0\"></span>ife </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x2e4 ha y61f8 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td class=\"t m13f x490 ha y61f8 ff2 fs5 fc3 sc0 ls142 wsbf\">in o<span class=\"_ _2\"></span>ther </td><td class=\"t m0 x908 ha y61f8 ff2 fs5 fc3 sc0 ls1 ws1\">CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s </td><td></td><td class=\"t m0 x492 ha y61f8 ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s amo<span class=\"_ _0\"></span>unts </td><td></td></tr><tr><td></td><td class=\"t m0 x1d81 ha y61f9 ff2 fs5 fc3 sc0 ls11 ws11\">1 January<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 xdff ha y61f9 ff2 fs5 fc3 sc0 ls11 ws11\">1 January<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3a4 ha y61f9 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _2\"></span> </td><td class=\"t m13f x2eb ha y61f9 ff2 fs5 fc3 sc0 ls142 ws14e\">comprehensiv<span class=\"_ _2\"></span>e </td><td class=\"t m0 x1d82 ha y61f9 ff2 fs5 fc3 sc0 ls1 ws1\">Limi<span class=\"_ _0\"></span>ted </td><td class=\"t m0 x187c ha y61f9 ff2 fs5 fc3 sc0 ls4d wsbf\">Other </td><td class=\"t m0 x1d83 ha y61f9 ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 x2f9 ha y61fa ff2 fs5 fc3 sc0 ls1 ws1\">as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></td><td class=\"c x92b y61fb wa4e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">Restatements</div><div class=\"t m0 x1d84 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d86 y61fb wa4f h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d85 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d88 y61fb wa50 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d87 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m13f x490 ha y61fa ff2 fs5 fc3 sc0 lsa4 ws9f\">income<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bc ha y61fa ff2 fs5 fc3 sc0 ls22 ws24\">acquisition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 ha y61fa ff2 fs5 fc3 sc0 ls4d wsbf\">movements<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe3c ha y61fa ff2 fs5 fc3 sc0 ls11 ws11\">held for sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d89 ha y61fa ff2 fs5 fc3 sc0 lsa6 wsa1\">31 December<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y61fc ff2 fs5 fc3 sc0 ls11 ws11\">2023 (restated)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e8 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y61fd wa3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ading los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8a y61fd w862 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">196<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8b y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8c y61fd w59a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8d y61fd w8f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8e y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8f y61fd wf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d90 y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d91 y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d92 y61fd w103 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">399<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61fe wa3e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">Capital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d93 y61fe w4f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d94 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d95 y61fe w7b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab0 y61fe w87a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d96 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d97 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b3 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b4 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b5 y61fe w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y61ff ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s and deferre<span class=\"_ _0\"></span>d acquisit<span class=\"_ _0\"></span>ion </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6200 wa51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">cost<span class=\"_ _0\"></span>s carried forward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d98 y6200 w85a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">397<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d99 y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9a y6200 w16f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">397<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9b y6200 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9c y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9d y6200 w1f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9e y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9f y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da0 y6200 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6201 wa52 h204\"><div class=\"t m0 x1cf hc y5a89 ff2 fs6 fc3 sc0 ls1 ws1\">Provision<span class=\"_ _0\"></span>s and other<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">temporary di<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>erences<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da1 y6201 w19f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da2 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da3 y6201 w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da4 y6201 wa53 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ee y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131c y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da5 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da6 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7b y6201 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6202 ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>refundable p<span class=\"_ _0\"></span>ension </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6203 wa54 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">scheme surp<span class=\"_ _2\"></span>lus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da7 y6203 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(1<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da8 y6203 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da9 y6203 wa55 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>142<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd78 y6203 w763 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1daa y6203 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dab y6203 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bc y6203 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10cc y6203 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ac y6203 wa56 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6204 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>d future pen<span class=\"_ _0\"></span>sion </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6205 wa57 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">contributions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dac y6205 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dad y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dae y6205 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1daf y6205 wa58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db0 y6205 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db1 y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7f y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db2 y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf7 y6205 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6206 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>ransitional a<span class=\"_ _0\"></span>djustment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6207 wa59 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">relatin<span class=\"_ _0\"></span>g to IFRS 9/17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db3 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db4 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db5 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db6 y6207 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db7 y6207 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a3 y6207 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db8 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db9 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dba y6207 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6208 wa44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">Acceler<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>apital allowances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbb y6208 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da2 y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbc y6208 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbd y6208 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbe y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbf y6208 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b4 y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc0 y6208 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc1 y6208 wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6209 wa45 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc2 y6209 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc3 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc4 y6209 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc5 y6209 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc6 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc7 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc8 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc9 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abc y6209 wa5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y620a wce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Acquire<span class=\"_ _0\"></span>d in-force busin<span class=\"_ _0\"></span>ess<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dca y620a wa5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcb y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcc y620a wa5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcd y620a w89c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dce y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcf y620a w62e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd0 y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd1 y620a w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1205 y620a w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dc7 wa48 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cus<span class=\"_ _0\"></span>tomer relati<span class=\"_ _0\"></span>onships<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd2 y5dc7 w28f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd3 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd4 y5dc7 wa53 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd5 y5dc7 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd6 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106b y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd7 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd8 y5dc7 w991 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b12 wa4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Unrea<span class=\"_ _0\"></span>lised ga<span class=\"_ _0\"></span>ins<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd9 y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(261<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dda y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddb y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>261)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddc y5b12 w314 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(<span class=\"_ _0\"></span>77)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddd y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dde y5b12 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(23)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddf y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de0 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de1 y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y620b ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 wa5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">bet<span class=\"_ _0\"></span>ween lo<span class=\"_ _0\"></span>cal GAAP a<span class=\"_ _0\"></span>nd IFRS<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de2 y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de3 y5b24 w9e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de4 y5b24 w9bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de5 y5b24 wa5e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de6 y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de7 y5b24 w392 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de8 y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de9 y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dea y5b24 wa5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>242<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w34c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1deb y5b25 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dec y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ded y5b25 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dee y5b25 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1def y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190d y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df0 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df1 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b0 y5b25 w4c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x196d y5a16 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>151<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df2 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df3 y5a16 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>151<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df4 y5a16 w5ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df5 y5a16 w2a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df6 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df7 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df8 y5a16 wa5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df9 y5a16 wa60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>177<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>tandard r<span class=\"_ _0\"></span>ate of UK corp<span class=\"_ _0\"></span>oration ta<span class=\"_ _0\"></span>x for the year en<span class=\"_ _0\"></span>ded 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 is 2<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% (20<span class=\"_ _0\"></span>23: 23.<span class=\"_ _0\"></span>5%)<span class=\"_ _2\"></span>. Sha<span class=\"_ _0\"></span>reholde<span class=\"_ _0\"></span>r deferred ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es, wh<span class=\"_ _0\"></span>ere provided<span class=\"_ _0\"></span>, are reflec<span class=\"_ _0\"></span>ted at 25%<span class=\"_ _0\"></span>. Deferred in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised fo<span class=\"_ _0\"></span>r tax los<span class=\"_ _0\"></span>ses car<span class=\"_ _0\"></span>ried for<span class=\"_ _0\"></span>ward only to the ex<span class=\"_ _0\"></span>tent that re<span class=\"_ _0\"></span>alisation of the re<span class=\"_ _0\"></span>lated ta<span class=\"_ _0\"></span>x benefit is p<span class=\"_ _0\"></span>robable.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa27\">The defe<span class=\"_ _0\"></span>rred tax a<span class=\"_ _0\"></span>sset rel<span class=\"_ _0\"></span>ating to tradin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s has incre<span class=\"_ _0\"></span>ased in 2024 from \u00a33<span class=\"_ _0\"></span>99 milli<span class=\"_ _0\"></span>on to \u00a3536 m<span class=\"_ _0\"></span>illion, as sh<span class=\"_ _0\"></span>own in the table a<span class=\"_ _0\"></span>bove (2023: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa28\">incre<span class=\"_ _0\"></span>ase from \u00a31<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>6 million to \u00a339<span class=\"_ _0\"></span>9 million). This ha<span class=\"_ _0\"></span>s arisen pr<span class=\"_ _0\"></span>incipally due to n<span class=\"_ _0\"></span>et taxab<span class=\"_ _0\"></span>le losse<span class=\"_ _0\"></span>s arising within t<span class=\"_ _0\"></span>he cons<span class=\"_ _0\"></span>tituent entit<span class=\"_ _0\"></span>ies of the Group. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa29\">The Gro<span class=\"_ _0\"></span>up utilises p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>recas<span class=\"_ _0\"></span>ts to supp<span class=\"_ _0\"></span>ort rec<span class=\"_ _0\"></span>ognition of a defe<span class=\"_ _0\"></span>rred tax a<span class=\"_ _0\"></span>sset in rel<span class=\"_ _0\"></span>ation to the los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>. The profit forec<span class=\"_ _0\"></span>ast<span class=\"_ _0\"></span>s are prepare<span class=\"_ _0\"></span>d for the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa2a\">Annua<span class=\"_ _0\"></span>l Opera<span class=\"_ _0\"></span>ting Plan which is u<span class=\"_ _0\"></span>sed for vario<span class=\"_ _0\"></span>us purpos<span class=\"_ _0\"></span>es includin<span class=\"_ _0\"></span>g target s<span class=\"_ _0\"></span>ettin<span class=\"_ _0\"></span>g, divide<span class=\"_ _0\"></span>nd afforda<span class=\"_ _0\"></span>bility as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sments a<span class=\"_ _0\"></span>nd going c<span class=\"_ _0\"></span>oncern<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa2b\">The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>ers the fore<span class=\"_ _0\"></span>cast<span class=\"_ _0\"></span>s to be a reliabl<span class=\"_ _0\"></span>e source of informati<span class=\"_ _0\"></span>on to suppor<span class=\"_ _0\"></span>t the rec<span class=\"_ _0\"></span>ognition of a defer<span class=\"_ _0\"></span>red tax a<span class=\"_ _0\"></span>sset in rela<span class=\"_ _0\"></span>tion to the los<span class=\"_ _0\"></span>ses. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa2c\">The fore<span class=\"_ _0\"></span>cas<span class=\"_ _0\"></span>ts sugg<span class=\"_ _0\"></span>est th<span class=\"_ _0\"></span>at the loss<span class=\"_ _0\"></span>es will be utilis<span class=\"_ _0\"></span>ed in full within 8 ye<span class=\"_ _0\"></span>ars.<span class=\"_ _3bd\"> </span></div><div class=\"gsa2d\"><table class=\"s w85f h2b5\" id=\"_8464c4fc-f065-4ac5-a419-58259deab2b5\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y620c ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x1ce h29 y620d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y620e w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y620f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6210 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y6211 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e n<span class=\"_ _0\"></span>ot been re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in resp<span class=\"_ _0\"></span>ect of:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6212 wa61 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax los<span class=\"_ _0\"></span>ses c<span class=\"_ _0\"></span>arried for<span class=\"_ _0\"></span>ward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c3 y6212 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfa y6212 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">99<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6213 wa62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ess exp<span class=\"_ _0\"></span>enses a<span class=\"_ _0\"></span>nd deferred a<span class=\"_ _0\"></span>cquisition c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfb y6213 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfc y6213 w1b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6214 wa63 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en loca<span class=\"_ _0\"></span>l G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP and IFR<span class=\"_ _0\"></span>S 17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfd y6214 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfe y6214 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wa45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70c y5a15 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5a15 w1b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa64 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets n<span class=\"_ _0\"></span>ot recog<span class=\"_ _0\"></span>nised on c<span class=\"_ _0\"></span>apital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d24 y5a16 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dff y5a16 w12c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">119<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsa2e\">1 <span class=\"_ _9\"> </span>The a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>t to the 20<span class=\"_ _0\"></span>23 defer<span class=\"_ _0\"></span>red ta<span class=\"_ _0\"></span>x ass<span class=\"_ _0\"></span>ets n<span class=\"_ _0\"></span>ot reco<span class=\"_ _0\"></span>gnis<span class=\"_ _0\"></span>ed rel<span class=\"_ _0\"></span>ates pr<span class=\"_ _0\"></span>incip<span class=\"_ _0\"></span>ally to Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Lim<span class=\"_ _0\"></span>ited<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s (fo<span class=\"_ _0\"></span>rmer<span class=\"_ _0\"></span>ly know<span class=\"_ _0\"></span>n as Sun Li<span class=\"_ _0\"></span>fe Ass<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany of Ca<span class=\"_ _0\"></span>nada (<span class=\"_ _0\"></span>U.K<span class=\"_ _0\"></span>.) Limi<span class=\"_ _0\"></span>ted) t<span class=\"_ _0\"></span>ax los<span class=\"_ _0\"></span>ses </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsa2f\">foll<span class=\"_ _0\"></span>owing a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>sition o<span class=\"_ _0\"></span>f the com<span class=\"_ _0\"></span>pany in 2<span class=\"_ _0\"></span>023. T<span class=\"_ _0\"></span>he ad<span class=\"_ _0\"></span>just<span class=\"_ _0\"></span>ment n<span class=\"_ _0\"></span>ow incl<span class=\"_ _0\"></span>udes th<span class=\"_ _0\"></span>ese t<span class=\"_ _0\"></span>ax los<span class=\"_ _0\"></span>ses at t<span class=\"_ _0\"></span>heir t<span class=\"_ _0\"></span>ax valu<span class=\"_ _0\"></span>e rath<span class=\"_ _0\"></span>er than t<span class=\"_ _0\"></span>he gro<span class=\"_ _0\"></span>ss amo<span class=\"_ _0\"></span>unt, a<span class=\"_ _0\"></span>lignin<span class=\"_ _0\"></span>g with th<span class=\"_ _0\"></span>e Grou<span class=\"_ _0\"></span>p\u2019<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>ferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsa30\">not r<span class=\"_ _0\"></span>ecog<span class=\"_ _0\"></span>nise<span class=\"_ _0\"></span>d. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa31\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group also h<span class=\"_ _0\"></span>ad \u00a312 millio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f g<span class=\"_ _0\"></span>ross BL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>GAB (life bus<span class=\"_ _0\"></span>iness) tra<span class=\"_ _0\"></span>ding loss<span class=\"_ _0\"></span>es that were pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to be utilise<span class=\"_ _0\"></span>d, however </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa32\">no<span class=\"_ gs47\"> </span>valu<span class=\"_ _0\"></span>e was attr<span class=\"_ _0\"></span>ibuted to the<span class=\"_ _0\"></span>se deferred t<span class=\"_ _0\"></span>ax ass<span class=\"_ _0\"></span>ets given th<span class=\"_ _0\"></span>e interacti<span class=\"_ _0\"></span>on with other de<span class=\"_ _0\"></span>ductibl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>mporar<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences<span class=\"_ _0\"></span>. At 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa33\">the<span class=\"_ gs47\"> </span>qua<span class=\"_ _0\"></span>ntum of BLAGAB tradin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s that no value h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n attribu<span class=\"_ _0\"></span>ted to is \u00a3nil.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa34\">There i<span class=\"_ _0\"></span>s a technic<span class=\"_ _0\"></span>al matte<span class=\"_ _0\"></span>r which is curre<span class=\"_ _0\"></span>ntly being dis<span class=\"_ _0\"></span>cuss<span class=\"_ _0\"></span>ed with HM<span class=\"_ _0\"></span>RC in relatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e L&amp;G insur<span class=\"_ _0\"></span>ance bu<span class=\"_ _0\"></span>siness tr<span class=\"_ _0\"></span>ansfer to ReA<span class=\"_ _0\"></span>ssure Limite<span class=\"_ _0\"></span>d. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa35\">The<span class=\"_ _0\"></span>se discus<span class=\"_ _0\"></span>sions are n<span class=\"_ _0\"></span>ot sufficie<span class=\"_ _0\"></span>ntly progre<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>t this sta<span class=\"_ _0\"></span>ge for reco<span class=\"_ _0\"></span>gnition of any potenti<span class=\"_ _0\"></span>al tax be<span class=\"_ _0\"></span>nefit arising<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa36\">The Gro<span class=\"_ _0\"></span>up in conj<span class=\"_ _0\"></span>unction with a n<span class=\"_ _0\"></span>umber of other c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s has challe<span class=\"_ _0\"></span>nged H<span class=\"_ _0\"></span>MRC<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>osition on th<span class=\"_ _0\"></span>e corporat<span class=\"_ _0\"></span>ion tax tre<span class=\"_ _0\"></span>atment of overse<span class=\"_ _0\"></span>as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa37\">por<span class=\"_ _0\"></span>tfolio di<span class=\"_ _0\"></span>vidends from c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s resident in th<span class=\"_ _0\"></span>e E<span class=\"_ _2\"></span>U (<span class=\"_ _0\"></span>\u2018EU divid<span class=\"_ _0\"></span>ends\u2019) u<span class=\"_ _0\"></span>sing a Group Litig<span class=\"_ _0\"></span>ation Orde<span class=\"_ _0\"></span>r (\u2018GLO\u2019). The is<span class=\"_ _0\"></span>sue relate<span class=\"_ _0\"></span>s to whether th<span class=\"_ _0\"></span>e UK </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa38\">tax r<span class=\"_ _0\"></span>ules, w<span class=\"_ _0\"></span>hich taxe<span class=\"_ _0\"></span>d EU dividends re<span class=\"_ _0\"></span>ceived p<span class=\"_ _0\"></span>rior to 1 July 20<span class=\"_ _0\"></span>09, wa<span class=\"_ _0\"></span>s contrar<span class=\"_ _0\"></span>y to EU law given th<span class=\"_ _0\"></span>at dividend<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d from UK comp<span class=\"_ _0\"></span>anies were </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa39\">exempt from t<span class=\"_ _0\"></span>ax. In 2<span class=\"_ _0\"></span>00<span class=\"_ _0\"></span>9 UK tax law w<span class=\"_ _0\"></span>as chang<span class=\"_ _0\"></span>ed with bot<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>ver<span class=\"_ _0\"></span>seas a<span class=\"_ _0\"></span>nd UK divide<span class=\"_ _0\"></span>nds bein<span class=\"_ _0\"></span>g treated as exem<span class=\"_ _0\"></span>pt from corpor<span class=\"_ _0\"></span>ation tax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa3a\">In July 2<span class=\"_ _0\"></span>018<span class=\"_ _0\"></span>, the Supre<span class=\"_ _0\"></span>me Cour<span class=\"_ _0\"></span>t conc<span class=\"_ _0\"></span>luded in favour of th<span class=\"_ _0\"></span>e tax payer an<span class=\"_ _0\"></span>d a tax be<span class=\"_ _0\"></span>nefit of \u00a313 million w<span class=\"_ _0\"></span>as reco<span class=\"_ _0\"></span>gnised at th<span class=\"_ _0\"></span>e end of 201<span class=\"_ _0\"></span>8 in relation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa3b\">to enha<span class=\"_ _0\"></span>nced do<span class=\"_ _0\"></span>uble tax re<span class=\"_ _0\"></span>lief claims whic<span class=\"_ _0\"></span>h the Group is enti<span class=\"_ _0\"></span>tled to in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the Cour<span class=\"_ _0\"></span>t judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>. As a result of the in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa3c\">tran<span class=\"_ _0\"></span>sfer from Leg<span class=\"_ _0\"></span>al and Gen<span class=\"_ _0\"></span>eral As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Societ<span class=\"_ _0\"></span>y during 2<span class=\"_ _0\"></span>020, the ta<span class=\"_ _0\"></span>x refund for the b<span class=\"_ _0\"></span>enefit of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s with-<span class=\"_ _0\"></span>profits and unit lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed f<span class=\"_ _0\"></span>unds </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa3d\">incre<span class=\"_ _0\"></span>ased to \u00a345 million a<span class=\"_ _0\"></span>nd \u00a323 million re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively<span class=\"_ _2\"></span>. D<span class=\"_ _0\"></span>uring 2024 tax refun<span class=\"_ _0\"></span>ds totaling \u00a3<span class=\"_ _0\"></span>11 million were rec<span class=\"_ _0\"></span>eived and th<span class=\"_ _0\"></span>e value of the rema<span class=\"_ _0\"></span>ining tax </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa3e\">recl<span class=\"_ _0\"></span>aims were revise<span class=\"_ _0\"></span>d downwards by a fur<span class=\"_ _0\"></span>ther \u00a3<span class=\"_ _0\"></span>11m. At 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024, the ta<span class=\"_ _0\"></span>x refunds for Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s with-<span class=\"_ _0\"></span>profits fund<span class=\"_ _0\"></span>s and unit linked fun<span class=\"_ _0\"></span>ds are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa3f\">\u00a33<span class=\"_ _0\"></span>6 million and \u00a3<span class=\"_ _0\"></span>10 million res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>. In th<span class=\"_ _0\"></span>e case of the w<span class=\"_ _0\"></span>ith-profits f<span class=\"_ _0\"></span>unds there wa<span class=\"_ _0\"></span>s an increas<span class=\"_ _0\"></span>e in unalloc<span class=\"_ _0\"></span>ated surplu<span class=\"_ _0\"></span>s and for the unit linked </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa40\">fund<span class=\"_ _0\"></span>s there was a co<span class=\"_ _0\"></span>rrespon<span class=\"_ _0\"></span>ding increa<span class=\"_ _0\"></span>se in investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities a<span class=\"_ _0\"></span>s a result of the rec<span class=\"_ _0\"></span>ognition of th<span class=\"_ _0\"></span>e tax as<span class=\"_ _0\"></span>set. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa41\">Set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent of this issu<span class=\"_ _0\"></span>e is subje<span class=\"_ _0\"></span>ct to ongoin<span class=\"_ _0\"></span>g litigation w<span class=\"_ _0\"></span>ith most re<span class=\"_ _0\"></span>cently, the Co<span class=\"_ _0\"></span>urt of Appe<span class=\"_ _0\"></span>al ruling in favour of H<span class=\"_ _0\"></span>MRC in Febr<span class=\"_ _0\"></span>uary 2<span class=\"_ _0\"></span>025. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa42\">Con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n is being give<span class=\"_ _0\"></span>n as to whether t<span class=\"_ _0\"></span>his ruling will be a<span class=\"_ _0\"></span>ppeale<span class=\"_ _0\"></span>d at the Supre<span class=\"_ _0\"></span>me Cour<span class=\"_ _0\"></span>t. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa43\">The Gro<span class=\"_ _0\"></span>up is continuin<span class=\"_ _0\"></span>g to monitor develo<span class=\"_ _0\"></span>pments in re<span class=\"_ _0\"></span>lation to the G20<span class=\"_ _0\"></span>-O<span class=\"_ _0\"></span>ECD Inclu<span class=\"_ _0\"></span>sive F<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>amework \u201c<span class=\"_ _0\"></span>Pillar T<span class=\"_ _4\"></span>wo\u201d rul<span class=\"_ _0\"></span>es, as th<span class=\"_ _0\"></span>e Group is within s<span class=\"_ _0\"></span>cope </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa44\">of the rule<span class=\"_ _0\"></span>s from 1 Janua<span class=\"_ _0\"></span>ry 2024. Bro<span class=\"_ _0\"></span>adly<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>ese rule<span class=\"_ _0\"></span>s seek to en<span class=\"_ _0\"></span>sure that, o<span class=\"_ _0\"></span>n a jurisdic<span class=\"_ _0\"></span>tion-by-juri<span class=\"_ _0\"></span>sdiction b<span class=\"_ _0\"></span>asis, l<span class=\"_ _0\"></span>arge multina<span class=\"_ _0\"></span>tional enterp<span class=\"_ _0\"></span>rises pay </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa45\">a<span class=\"_ gs47\"> </span>minimum t<span class=\"_ _0\"></span>ax rate of 15% on worl<span class=\"_ _0\"></span>dwide profit<span class=\"_ _0\"></span>s arising af<span class=\"_ _0\"></span>ter 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>023. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa46\">In May 2<span class=\"_ _0\"></span>023, the s<span class=\"_ _0\"></span>cope of IAS 12 h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n amende<span class=\"_ _0\"></span>d to clarif<span class=\"_ _0\"></span>y that the s<span class=\"_ _0\"></span>tandard a<span class=\"_ _0\"></span>pplies to inco<span class=\"_ _0\"></span>me taxes a<span class=\"_ _0\"></span>rising from ta<span class=\"_ _0\"></span>x law enac<span class=\"_ _0\"></span>ted or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa47\">subs<span class=\"_ _0\"></span>tantively e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o im<span class=\"_ _0\"></span>plement th<span class=\"_ _0\"></span>e Pillar T<span class=\"_ _4\"></span>wo m<span class=\"_ _0\"></span>odel rule<span class=\"_ _0\"></span>s publishe<span class=\"_ _0\"></span>d by the OECD, inc<span class=\"_ _0\"></span>luding ta<span class=\"_ _0\"></span>x law that imple<span class=\"_ _0\"></span>ments qu<span class=\"_ _0\"></span>alified dom<span class=\"_ _0\"></span>estic </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa48\">minimum top<span class=\"_ _0\"></span>-up taxe<span class=\"_ _0\"></span>s describ<span class=\"_ _0\"></span>ed in those r<span class=\"_ _0\"></span>ules. T<span class=\"_ _0\"></span>he amendm<span class=\"_ _0\"></span>ents introd<span class=\"_ _0\"></span>uce a tempo<span class=\"_ _0\"></span>rary exc<span class=\"_ _0\"></span>eption to the ac<span class=\"_ _0\"></span>counting re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s for deferred </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa49\">taxe<span class=\"_ _0\"></span>s in IAS 12, so th<span class=\"_ _0\"></span>at an entit<span class=\"_ _0\"></span>y would neith<span class=\"_ _0\"></span>er reco<span class=\"_ _0\"></span>gnise nor di<span class=\"_ _0\"></span>sclose inform<span class=\"_ _0\"></span>ation abou<span class=\"_ _0\"></span>t deferred ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies related to Pilla<span class=\"_ _0\"></span>r T<span class=\"_ _4\"></span>wo </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa4a\">inco<span class=\"_ _0\"></span>me taxes<span class=\"_ _0\"></span>. The Group c<span class=\"_ _0\"></span>onfirms that i<span class=\"_ _0\"></span>t has applie<span class=\"_ _0\"></span>d this exception d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa4b\">The m<span class=\"_ _0\"></span>ain jurisdic<span class=\"_ _0\"></span>tions in which th<span class=\"_ _0\"></span>e Group may have exp<span class=\"_ _0\"></span>osures to Pillar T<span class=\"_ _2\"></span>wo inc<span class=\"_ _0\"></span>ome taxe<span class=\"_ _0\"></span>s are Ireland a<span class=\"_ _0\"></span>nd the UK<span class=\"_ _0\"></span>. As at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa4c\">Group h<span class=\"_ _0\"></span>as accr<span class=\"_ _0\"></span>ued \u00a3nil in resp<span class=\"_ _0\"></span>ect of Pillar T<span class=\"_ _2\"></span>wo inc<span class=\"_ _0\"></span>ome taxes b<span class=\"_ _0\"></span>ased on i<span class=\"_ _0\"></span>ts lates<span class=\"_ _0\"></span>t asses<span class=\"_ _0\"></span>sment<span class=\"_ _0\"></span>. The Group al<span class=\"_ _0\"></span>so notes that t<span class=\"_ _0\"></span>he Pillar T<span class=\"_ _4\"></span>wo in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa4d\">leg<span class=\"_ _0\"></span>islation is exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to continue devel<span class=\"_ _0\"></span>oping, th<span class=\"_ _0\"></span>e rules are inh<span class=\"_ _0\"></span>erently com<span class=\"_ _0\"></span>plex and c<span class=\"_ _0\"></span>an potentially le<span class=\"_ _0\"></span>ad to arbitra<span class=\"_ _0\"></span>ry outc<span class=\"_ _0\"></span>omes an<span class=\"_ _0\"></span>d therefore, the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa4e\">Group is c<span class=\"_ _0\"></span>ontinuing to as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>s the impac<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Pillar T<span class=\"_ _4\"></span>wo in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes legis<span class=\"_ _0\"></span>lation on its o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa4f\">The Gro<span class=\"_ _0\"></span>up also notes t<span class=\"_ _0\"></span>he enac<span class=\"_ _0\"></span>tment of leg<span class=\"_ _0\"></span>islation in Be<span class=\"_ _0\"></span>rmuda in De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023 which intro<span class=\"_ _0\"></span>duced a C<span class=\"_ _0\"></span>orporate I<span class=\"_ _0\"></span>ncome T<span class=\"_ _2\"></span>ax w<span class=\"_ _0\"></span>ith a headlin<span class=\"_ _0\"></span>e rate </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa50\">of<span class=\"_ gs47\"> </span>15% ef<span class=\"_ _0\"></span>fective from 1 J<span class=\"_ _0\"></span>anuar<span class=\"_ _0\"></span>y 2025. T<span class=\"_ _0\"></span>his legis<span class=\"_ _0\"></span>lation applie<span class=\"_ _0\"></span>s to the Group\u2019s local B<span class=\"_ _0\"></span>ermudian o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s. Given th<span class=\"_ _0\"></span>e current size of local o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa51\">the Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect th<span class=\"_ _0\"></span>e immediate im<span class=\"_ _0\"></span>pact to be m<span class=\"_ _0\"></span>aterial.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-669": {
   "value": "Inc<span class=\"_ _0\"></span>ome tax c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s current and defe<span class=\"_ _0\"></span>rred tax<span class=\"_ _0\"></span>. Inco<span class=\"_ _0\"></span>me tax is re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt except to the ex<span class=\"_ _0\"></span>tent that it rel<span class=\"_ _0\"></span>ates to items re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the s<span class=\"_ _0\"></span>tatement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d compreh<span class=\"_ _0\"></span>ensive inco<span class=\"_ _0\"></span>me or the st<span class=\"_ _0\"></span>atement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, in whi<span class=\"_ _0\"></span>ch case i<span class=\"_ _0\"></span>t is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in these s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>Current t<span class=\"_ _0\"></span>ax is the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d tax payabl<span class=\"_ _0\"></span>e on the taxa<span class=\"_ _0\"></span>ble incom<span class=\"_ _0\"></span>e for the year, using tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e date of the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial p<span class=\"_ _0\"></span>osition tog<span class=\"_ _0\"></span>ether with a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ments to ta<span class=\"_ _0\"></span>x payable in res<span class=\"_ _0\"></span>pect of prev<span class=\"_ _0\"></span>ious years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>ax charg<span class=\"_ _0\"></span>e is analyse<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e in respec<span class=\"_ _0\"></span>t of policyh<span class=\"_ _0\"></span>olders\u2019 ret<span class=\"_ _0\"></span>urns and ta<span class=\"_ _0\"></span>x that is payabl<span class=\"_ _0\"></span>e on owners\u2019 retur<span class=\"_ _0\"></span>ns. Deferre<span class=\"_ _0\"></span>d tax is provi<span class=\"_ _0\"></span>ded for on temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities for finan<span class=\"_ _0\"></span>cial repor<span class=\"_ _0\"></span>ting pur<span class=\"_ _0\"></span>poses an<span class=\"_ _0\"></span>d the am<span class=\"_ _0\"></span>ounts use<span class=\"_ _0\"></span>d for taxati<span class=\"_ _0\"></span>on purpos<span class=\"_ _0\"></span>es. Defe<span class=\"_ _0\"></span>rred tax i<span class=\"_ _0\"></span>s not provided in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e initial rec<span class=\"_ _0\"></span>ognition of g<span class=\"_ _0\"></span>oodwill and t<span class=\"_ _0\"></span>he initial rec<span class=\"_ _0\"></span>ognition of as<span class=\"_ _0\"></span>sets or liab<span class=\"_ _0\"></span>ilities in a trans<span class=\"_ _0\"></span>action t<span class=\"_ _0\"></span>hat is not a busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbination an<span class=\"_ _0\"></span>d that, at th<span class=\"_ _0\"></span>e time of the trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>, affe<span class=\"_ _0\"></span>cts nei<span class=\"_ _0\"></span>ther acc<span class=\"_ _0\"></span>ounting nor tax<span class=\"_ _0\"></span>able profit. T<span class=\"_ _0\"></span>he amount of deferre<span class=\"_ _0\"></span>d tax provid<span class=\"_ _0\"></span>ed is bas<span class=\"_ _0\"></span>ed on the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d manner of re<span class=\"_ _0\"></span>alisation or s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of the ca<span class=\"_ _0\"></span>rrying a<span class=\"_ _0\"></span>mount of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities, u<span class=\"_ _0\"></span>sing tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span>A deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d only to the ex<span class=\"_ _0\"></span>tent that it is pro<span class=\"_ _0\"></span>bable that f<span class=\"_ _0\"></span>uture tax<span class=\"_ _0\"></span>able profits will b<span class=\"_ _0\"></span>e available ag<span class=\"_ _0\"></span>ainst whi<span class=\"_ _0\"></span>ch the ass<span class=\"_ _0\"></span>et can be utilise<span class=\"_ _0\"></span>d. Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d to the extent t<span class=\"_ _0\"></span>hat it is no lon<span class=\"_ _0\"></span>ger proba<span class=\"_ _0\"></span>ble that the re<span class=\"_ _0\"></span>lated tax b<span class=\"_ _0\"></span>enefit will b<span class=\"_ _0\"></span>e realised<span class=\"_ _0\"></span>. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-627": {
   "value": "D. Eq<span class=\"_ _0\"></span>uit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span>D1. Share Capital<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has is<span class=\"_ _0\"></span>sued ordina<span class=\"_ _0\"></span>ry sh<span class=\"_ _0\"></span>ares which are c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d as equit<span class=\"_ _0\"></span>y. Increme<span class=\"_ _0\"></span>ntal ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal cos<span class=\"_ _0\"></span>ts that are dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to the iss<span class=\"_ _0\"></span>ue of<span class=\"_ gs47\"> </span>these share<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised in e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, net of ta<span class=\"_ _0\"></span>x.<span class=\"_ _3bd\"> </span><table class=\"s w3a0 h227\" id=\"_52726648-8f3b-49fb-b58b-35a249130555\"><tr><td></td><td class=\"t m0 x1ce h29 y5bda ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1cd ha y5bda ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bdb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1d3 ha y5bdb ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y5bdc ff2 fs6 fc3 sc0 ls1 ws1\">Is<span class=\"_ _0\"></span>sued an<span class=\"_ _0\"></span>d fully paid:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w3a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1,<span class=\"_ _0\"></span>003<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 millio<span class=\"_ _0\"></span>n ordinar<span class=\"_ _0\"></span>y shares of \u00a30.10 e<span class=\"_ _0\"></span>ach (2023<span class=\"_ _0\"></span>: 1,0<span class=\"_ _0\"></span>01.<span class=\"_ _0\"></span>5 million)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x780 y5a16 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x781 y5a16 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table>The h<span class=\"_ _0\"></span>olders of ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares are entitl<span class=\"_ _0\"></span>ed to one vote per sh<span class=\"_ _0\"></span>are on mat<span class=\"_ _0\"></span>ters to be voted o<span class=\"_ _0\"></span>n by owners an<span class=\"_ _0\"></span>d to receive su<span class=\"_ _0\"></span>ch dividend<span class=\"_ _0\"></span>s, if any, as<span class=\"_ gs47\"> </span>may be de<span class=\"_ _0\"></span>clared by th<span class=\"_ _0\"></span>e Board of Direc<span class=\"_ _0\"></span>tors in it<span class=\"_ _0\"></span>s discretion o<span class=\"_ _0\"></span>ut of legally avail<span class=\"_ _0\"></span>able profits<span class=\"_ _0\"></span>. Movem<span class=\"_ _0\"></span>ents in iss<span class=\"_ _0\"></span>ued share c<span class=\"_ _0\"></span>apital d<span class=\"_ _0\"></span>uring the<span class=\"_ gs47\"> </span>year<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w3a2 h228\" id=\"_d7f93dc3-e391-4739-ae3a-23f9fda5e51b\"><tr><td></td><td class=\"t m0 x782 h29 y5bdd ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x678 h29 y5bdd ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x783 ha y5bdd ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5bdd ff2 fs5 fc3 sc0 ls65 wsc0\">2023</td></tr><tr><td></td><td class=\"t m0 x541 h29 y5bde ff3 fs5 fc3 sc0 ls65 wsc0\"> Number</td><td class=\"t m0 x556 h29 y5bde ff3 fs5 fc3 sc0 ls1 ws1\"> \u00a3</td><td class=\"t m0 x59f ha y5bde ff2 fs5 fc3 sc0 ls21 ws23\"> Numbe<span class=\"_ _0\"></span>r</td><td class=\"t m0 x784 ha y5bde ff2 fs5 fc3 sc0 ls1 ws1\"> \u00a3<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a46 w3a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>res in issu<span class=\"_ _0\"></span>e at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x785 y5a46 w3a4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">1,00<span class=\"_ _2\"></span>1,5<span class=\"_ _2\"></span>38<span class=\"_ _2\"></span>,4<span class=\"_ _4\"></span>19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x786 y5a46 w3a5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>8<span class=\"_ _1\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x787 y5a46 w3a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d ws1f\">1,000<span class=\"_ _2\"></span>,3<span class=\"_ _4\"></span>5<span class=\"_ _2\"></span>2,<span class=\"_ _2\"></span>4<span class=\"_ _4\"></span>77<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x788 y5a46 w3a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>247<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w3a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares iss<span class=\"_ _0\"></span>ued in the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x789 y5b25 w3a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>57<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78a y5b25 w3aa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78b y5b25 w3ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _1\"></span>,1<span class=\"_ _0\"></span>85<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78c y5b25 w3ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">118,59<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3ad h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Sh<span class=\"_ _0\"></span>ares in is<span class=\"_ _0\"></span>sue at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78d y5a16 w3ae h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,00<span class=\"_ _0\"></span>3,111,838<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78e y5a16 w3af h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">10<span class=\"_ _1\"></span>0,<span class=\"_ _0\"></span>311<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>18<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78f y5a16 w3b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>01,538,4<span class=\"_ _4\"></span>1<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x790 y5a16 w3b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0,153,8<span class=\"_ _0\"></span>4<span class=\"_ _4\"></span>1<span class=\"_ _3bd\"> </span></div></td></tr></table>Durin<span class=\"_ _0\"></span>g the year, 1,<span class=\"_ _0\"></span>573,41<span class=\"_ _0\"></span>9 shares (2<span class=\"_ _0\"></span>023: 1,1<span class=\"_ _0\"></span>85<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>42) w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>re issue<span class=\"_ _0\"></span>d at a premium of \u00a3nil (2023<span class=\"_ _0\"></span>: \u00a36 million) in order to sat<span class=\"_ _0\"></span>isfy o<span class=\"_ _0\"></span>bligation<span class=\"_ _0\"></span>s to employees under t<span class=\"_ _0\"></span>he Group\u2019s shares s<span class=\"_ _0\"></span>chemes (s<span class=\"_ _0\"></span>ee note I1). This in<span class=\"_ _0\"></span>cluded 1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>00,0<span class=\"_ _0\"></span>00 sh<span class=\"_ _0\"></span>ares (2023: n<span class=\"_ _0\"></span>il) that were iss<span class=\"_ _0\"></span>ued to the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Employe<span class=\"_ _0\"></span>e Benefit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t at<span class=\"_ gs47\"> </span>nominal value.<span class=\"_ _3bd\"> </span>The b<span class=\"_ _0\"></span>alance in th<span class=\"_ _0\"></span>e merger re<span class=\"_ _0\"></span>lief reser<span class=\"_ _0\"></span>ve arose upo<span class=\"_ _0\"></span>n the issu<span class=\"_ _0\"></span>ance of equit<span class=\"_ _0\"></span>y sha<span class=\"_ _0\"></span>res in 2020 as pa<span class=\"_ _0\"></span>rt con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the acquis<span class=\"_ _0\"></span>ition of the entire share c<span class=\"_ _0\"></span>apital of ReA<span class=\"_ _0\"></span>ssure Gro<span class=\"_ _0\"></span>up plc. The G<span class=\"_ _0\"></span>roup applie<span class=\"_ _0\"></span>d the relief in se<span class=\"_ _0\"></span>ction 61<span class=\"_ _0\"></span>2 o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Compan<span class=\"_ _0\"></span>ies Act 20<span class=\"_ _0\"></span>06 to pre<span class=\"_ _0\"></span>sent the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the con<span class=\"_ _0\"></span>sideration re<span class=\"_ _0\"></span>ceived a<span class=\"_ _0\"></span>nd the nomin<span class=\"_ _0\"></span>al value of the sh<span class=\"_ _0\"></span>ares iss<span class=\"_ _0\"></span>ued of \u00a31<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>9 million in a merg<span class=\"_ _0\"></span>er reser<span class=\"_ _0\"></span>ve as opp<span class=\"_ _0\"></span>osed to in sha<span class=\"_ _0\"></span>re premium. D<span class=\"_ _0\"></span>uring the peri<span class=\"_ _0\"></span>od \u00a31<span class=\"_ _0\"></span>,226 m<span class=\"_ _0\"></span>illion of the reser<span class=\"_ _0\"></span>ve was tran<span class=\"_ _0\"></span>sferred to ret<span class=\"_ _0\"></span>ained e<span class=\"_ _0\"></span>arnings follow<span class=\"_ _0\"></span>ing the impairm<span class=\"_ _0\"></span>ent of the Com<span class=\"_ _0\"></span>pany\u2019<span class=\"_ _2\"></span>s inves<span class=\"_ _0\"></span>tment in the Re<span class=\"_ _0\"></span>Assure group of co<span class=\"_ _0\"></span>mpanies a<span class=\"_ _0\"></span>s a result of the dis<span class=\"_ _0\"></span>tribution of divide<span class=\"_ _0\"></span>nds to the Co<span class=\"_ _0\"></span>mpany<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>D2. S<span class=\"_ _0\"></span>hares held by the emp<span class=\"_ _0\"></span>lo<span class=\"_ _2\"></span>yee b<span class=\"_ _0\"></span>enefit trust<span class=\"_ _3bd\"> </span>Where t<span class=\"_ _0\"></span>he Phoeni<span class=\"_ _0\"></span>x Group Employee B<span class=\"_ _0\"></span>enefit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t (\u2018<span class=\"_ _0\"></span>EBT\u2019) a<span class=\"_ _0\"></span>cquires sh<span class=\"_ _0\"></span>ares in the Co<span class=\"_ _0\"></span>mpany or obtain<span class=\"_ _0\"></span>s rights to purch<span class=\"_ _0\"></span>ase its s<span class=\"_ _0\"></span>hares<span class=\"_ _0\"></span>, the con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>aid (includin<span class=\"_ _0\"></span>g any attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s, ne<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f t<span class=\"_ _0\"></span>ax) is sh<span class=\"_ _0\"></span>own as a dedu<span class=\"_ _0\"></span>ction from own<span class=\"_ _0\"></span>ers\u2019 equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. G<span class=\"_ _0\"></span>ains and los<span class=\"_ _0\"></span>ses on<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ales of share<span class=\"_ _0\"></span>s held by the EBT are c<span class=\"_ _0\"></span>harged o<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>credited to th<span class=\"_ _0\"></span>e own shares a<span class=\"_ _0\"></span>ccount in eq<span class=\"_ _0\"></span>uity.<span class=\"_ _3bd\"> </span>The EBT h<span class=\"_ _0\"></span>olds share<span class=\"_ _0\"></span>s to satisf<span class=\"_ _0\"></span>y awards gr<span class=\"_ _0\"></span>anted to employe<span class=\"_ _0\"></span>es under th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s s<span class=\"_ _0\"></span>hare-ba<span class=\"_ _0\"></span>sed paym<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes.<span class=\"_ _3bd\"> </span><table class=\"s w3b2 h229\" id=\"_0c5df64a-8828-4632-ace4-bc77c726c97a\"><tr><td></td><td class=\"t m0 x1ce h29 y5bdf ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5bdf ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5be0 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5be0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b23 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x791 y5b23 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x792 y5b23 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>res acquire<span class=\"_ _0\"></span>d by the EBT<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x793 y5b24 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x709 y5b24 w22d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w3b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>res awarde<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>mployees by th<span class=\"_ _0\"></span>e EBT<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x794 y5b25 w3b6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x795 y5b25 w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x796 y5a16 w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x797 y5a16 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr></table>Durin<span class=\"_ _0\"></span>g the year 2,<span class=\"_ _0\"></span>267<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span>832 (2023<span class=\"_ _0\"></span>: 1,<span class=\"_ _0\"></span>942,<span class=\"_ _0\"></span>979) share<span class=\"_ _0\"></span>s were awarded to e<span class=\"_ _0\"></span>mployees by th<span class=\"_ _0\"></span>e EBT<span class=\"_ _4\"></span>, 2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>94<span class=\"_ _0\"></span>,85<span class=\"_ _0\"></span>4 (2023: 2<span class=\"_ _0\"></span>,477<span class=\"_ _2\"></span>,8<span class=\"_ _0\"></span>97) sh<span class=\"_ _0\"></span>ares were purch<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n market and a f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r 1,<span class=\"_ _0\"></span>500,<span class=\"_ _0\"></span>00<span class=\"_ _0\"></span>0 shares were is<span class=\"_ _0\"></span>sued to th<span class=\"_ _0\"></span>e EBT by the Comp<span class=\"_ _0\"></span>any (2023: nil). The num<span class=\"_ _0\"></span>ber of share<span class=\"_ _0\"></span>s held by the EBT at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 was 4,<span class=\"_ _0\"></span>85<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>96<span class=\"_ _0\"></span>2 (2023: 2,<span class=\"_ _0\"></span>626<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>40).<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>ompany provide<span class=\"_ _0\"></span>d the EBT with an intere<span class=\"_ _0\"></span>st-free non-re<span class=\"_ _0\"></span>cour<span class=\"_ _0\"></span>se facilit<span class=\"_ _0\"></span>y arran<span class=\"_ _0\"></span>gement to e<span class=\"_ _0\"></span>nable it to purch<span class=\"_ _0\"></span>ase the sh<span class=\"_ _0\"></span>ares. D3. O<span class=\"_ _0\"></span>ther Reser<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>es<span class=\"_ _3bd\"> </span>The oth<span class=\"_ _0\"></span>er reser<span class=\"_ _0\"></span>ves comp<span class=\"_ _0\"></span>rise the own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y revaluati<span class=\"_ _0\"></span>on reser<span class=\"_ _0\"></span>ve and the c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve.<span class=\"_ _3bd\"> </span>Owner-occupied property revaluation<span class=\"_ _2\"></span> reser<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span>This res<span class=\"_ _0\"></span>erve c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the revaluation s<span class=\"_ _0\"></span>urplus arisin<span class=\"_ _0\"></span>g on revaluation of own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. When a revalua<span class=\"_ _0\"></span>tion loss ar<span class=\"_ _0\"></span>ises on a previo<span class=\"_ _0\"></span>usly revalue<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>t it should b<span class=\"_ _0\"></span>e deduc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d first a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he previous reva<span class=\"_ _0\"></span>luation gain<span class=\"_ _0\"></span>. Any excess im<span class=\"_ _0\"></span>pairment will th<span class=\"_ _0\"></span>en be rec<span class=\"_ _0\"></span>orded as an im<span class=\"_ _0\"></span>pairment expe<span class=\"_ _0\"></span>nse in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Cas<span class=\"_ _0\"></span>h flow hed<span class=\"_ _0\"></span>ging re<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span>Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement, a<span class=\"_ _0\"></span>nd is repor<span class=\"_ _0\"></span>ted in net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span>Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item.<span class=\"_ _3bd\"> </span>He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d when the Gro<span class=\"_ _0\"></span>up revok<span class=\"_ _2\"></span>es t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing relations<span class=\"_ _0\"></span>hip, when the h<span class=\"_ _0\"></span>edging in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nt expires or is so<span class=\"_ _0\"></span>ld, termina<span class=\"_ _0\"></span>ted, or exercis<span class=\"_ _0\"></span>ed, or wh<span class=\"_ _0\"></span>en it no long<span class=\"_ _0\"></span>er qualifie<span class=\"_ _0\"></span>s for hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing. Any gain o<span class=\"_ _0\"></span>r loss rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income an<span class=\"_ _0\"></span>d accum<span class=\"_ _0\"></span>ulated in equi<span class=\"_ _0\"></span>ty at that t<span class=\"_ _0\"></span>ime is recycl<span class=\"_ _0\"></span>ed to profit or los<span class=\"_ _0\"></span>s over the per<span class=\"_ _0\"></span>iod the he<span class=\"_ _0\"></span>dged item im<span class=\"_ _0\"></span>pact<span class=\"_ _0\"></span>s profit or los<span class=\"_ _0\"></span>s<span class=\"fc7\">.<span class=\"_ _3bd\"> </span></span>Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edge ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy are inc<span class=\"_ _0\"></span>luded in note E1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w3b8 h22a\" id=\"_7cab5282-5c0e-494f-aaaa-425ad5b1d792\"><tr><td></td><td class=\"t m0 x798 h29 y5be1 ff3 fs5 fc3 sc0 ls9e ws9a\">Owner-occupied<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x799 h29 y5be2 ff3 fs5 fc3 sc0 lsbe wsbe\">propert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x246 h29 y5be2 ff3 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>sh flow h<span class=\"_ _0\"></span>edgi<span class=\"_ _0\"></span>ng </td><td></td></tr><tr><td></td><td class=\"t m0 x576 h29 y5be3 ff3 fs5 fc3 sc0 ls8d ws86\">revaluation<span class=\"_ _2\"></span> reser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x79a h29 y5be3 ff3 fs5 fc3 sc0 lsc4 wsc7\">rese<span class=\"_ _0\"></span>rve<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x79b h29 y5be3 ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>otal other reserves<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5be4 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5be4 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5be4 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5aca w3b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry 2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79c y5aca w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79d y5aca w2f0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79e y5aca w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a2a w3ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other comprehens<span class=\"_ _2\"></span>ive (<span class=\"_ _2\"></span>expense)<span class=\"_ _2\"></span>/income for<span class=\"_ _2\"></span> the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79f y5a2a w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a0 y5a2a wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a1 y5a2a w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3bb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a2 y5a16 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a3 y5a16 wc7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a4 y5a16 wc7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td></tr></table>2023<span class=\"_ _3bd\"> </span><table class=\"s w3bc h22b\" id=\"_2dedcbdf-ab69-4345-bbbf-cb8c8d6ec4d1\"><tr><td></td><td class=\"t m0 x7a5 ha y5be5 ff2 fs5 fc3 sc0 ls65 wsc0\">Owner-oc<span class=\"_ _0\"></span>cupied </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x799 ha y5be6 ff2 fs5 fc3 sc0 ls26 wsc6\">proper<span class=\"_ _0\"></span>ty<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x7a6 ha y5be6 ff2 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>sh flow he<span class=\"_ _0\"></span>dgin<span class=\"_ _0\"></span>g </td><td></td></tr><tr><td></td><td class=\"t m0 x59b ha y5be7 ff2 fs5 fc3 sc0 ls4e ws48\"> revaluation reser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x7a7 ha y5be7 ff2 fs5 fc3 sc0 ls14a ws138\">rese<span class=\"_ _0\"></span>rve<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7a8 ha y5be7 ff2 fs5 fc3 sc0 ls4d wsbf\">T<span class=\"_ _2\"></span>otal ot<span class=\"_ _2\"></span>her reserves<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 ha y5be8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1d2 ha y5be8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5be8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5aca w3b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry 2023<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7a9 y5aca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7aa y5aca w1a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ab y5aca w199 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5acb w3bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other comprehens<span class=\"_ _2\"></span>ive income<span class=\"_ _2\"></span>/(<span class=\"_ _2\"></span>expense) f<span class=\"_ _2\"></span>or the y<span class=\"_ _2\"></span>ear<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ac y5acb w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7ad y5acb w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ae y5acb w3bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">(30)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x369 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7af y5a16 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5a16 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td></tr></table>At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group had in p<span class=\"_ _0\"></span>lace four cro<span class=\"_ _0\"></span>ss curren<span class=\"_ _0\"></span>cy swaps w<span class=\"_ _0\"></span>hich were desig<span class=\"_ _0\"></span>nated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts in order to ef<span class=\"_ _0\"></span>fect c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s Euro an<span class=\"_ _0\"></span>d US Dollar de<span class=\"_ _0\"></span>nominate<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s. On 12 J<span class=\"_ _0\"></span>une 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Co<span class=\"_ _0\"></span>mpany issu<span class=\"_ _0\"></span>ed US $<span class=\"_ _0\"></span>500 million C<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes and t<span class=\"_ _0\"></span>he cross c<span class=\"_ _0\"></span>urrency s<span class=\"_ _0\"></span>wap that was e<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>red into at this time wa<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>ted as a hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument. O<span class=\"_ _0\"></span>n 18 Jun<span class=\"_ _0\"></span>e 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, $5<span class=\"_ _0\"></span>00 million of the $<span class=\"_ _0\"></span>750 million Co<span class=\"_ _0\"></span>ntingently C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible T1 notes we<span class=\"_ _0\"></span>re repurchas<span class=\"_ _0\"></span>ed via a ten<span class=\"_ _0\"></span>der offer, leading to an un<span class=\"_ _0\"></span>winding of $5<span class=\"_ _0\"></span>00 million of the rel<span class=\"_ _0\"></span>ated swap arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent, which w<span class=\"_ _0\"></span>as then trea<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d as a par<span class=\"_ _0\"></span>tial disc<span class=\"_ _0\"></span>ontinuanc<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting ha<span class=\"_ _0\"></span>s been ad<span class=\"_ _0\"></span>opted effe<span class=\"_ _0\"></span>ctive from the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f d<span class=\"_ _0\"></span>esignatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e hedgin<span class=\"_ _0\"></span>g relations<span class=\"_ _0\"></span>hips. Th<span class=\"_ _0\"></span>e objec<span class=\"_ _0\"></span>tive of the hedg<span class=\"_ _0\"></span>ing relatio<span class=\"_ _0\"></span>nships is to he<span class=\"_ _0\"></span>dge the ris<span class=\"_ _0\"></span>k o<span class=\"_ _2\"></span>f va<span class=\"_ _0\"></span>riabilit<span class=\"_ _0\"></span>y in functio<span class=\"_ _0\"></span>nal curren<span class=\"_ _0\"></span>cy equival<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows with the foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y denomina<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s due to chan<span class=\"_ _0\"></span>ges in for<span class=\"_ _0\"></span>ward rates<span class=\"_ _0\"></span>. The he<span class=\"_ _0\"></span>dge ratio (i.<span class=\"_ _0\"></span>e. the relation<span class=\"_ _0\"></span>ship bet<span class=\"_ _0\"></span>ween the q<span class=\"_ _0\"></span>uantit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e hedgin<span class=\"_ _0\"></span>g instrum<span class=\"_ _0\"></span>ent and the q<span class=\"_ _0\"></span>uantity of th<span class=\"_ _0\"></span>e hedg<span class=\"_ _0\"></span>ed item in term<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>eir relative weig<span class=\"_ _0\"></span>hting) is suc<span class=\"_ _0\"></span>h that there is a<span class=\"_ _0\"></span>n exact matc<span class=\"_ _0\"></span>h in the relative weig<span class=\"_ _0\"></span>htings of the he<span class=\"_ _0\"></span>dged ite<span class=\"_ _0\"></span>ms and he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s within e<span class=\"_ _0\"></span>ach of the he<span class=\"_ _0\"></span>dging relati<span class=\"_ _0\"></span>onships<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>D4. T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span>An eq<span class=\"_ _0\"></span>uity ins<span class=\"_ _0\"></span>trument is a c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t that eviden<span class=\"_ _0\"></span>ces a resid<span class=\"_ _0\"></span>ual interest in th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s of an entit<span class=\"_ _0\"></span>y after de<span class=\"_ _0\"></span>ductin<span class=\"_ _0\"></span>g all its liabiliti<span class=\"_ _0\"></span>es. Acc<span class=\"_ _0\"></span>ordingly, a<span class=\"_ gs47\"> </span>finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>ument is treate<span class=\"_ _0\"></span>d as equit<span class=\"_ _0\"></span>y if:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the<span class=\"_ _0\"></span>re is no contra<span class=\"_ _0\"></span>ctual o<span class=\"_ _0\"></span>bligation to de<span class=\"_ _0\"></span>liver cash or oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts or to exchan<span class=\"_ _0\"></span>ge financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets or liabilitie<span class=\"_ _0\"></span>s on terms tha<span class=\"_ _0\"></span>t may be unfavourab<span class=\"_ _0\"></span>le; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nt is a non-de<span class=\"_ _0\"></span>rivative that co<span class=\"_ _0\"></span>ntains no co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>ual obligati<span class=\"_ _0\"></span>on to deliver a variab<span class=\"_ _0\"></span>le number of sh<span class=\"_ _0\"></span>ares or is a der<span class=\"_ _0\"></span>ivative that will be set<span class=\"_ _0\"></span>tled on<span class=\"_ _0\"></span>ly by the Group exch<span class=\"_ _0\"></span>anging a fixe<span class=\"_ _0\"></span>d amount of ca<span class=\"_ _0\"></span>sh or other as<span class=\"_ _0\"></span>sets for a fi<span class=\"_ _0\"></span>xed numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s own equit<span class=\"_ _0\"></span>y instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Fi<span class=\"_ _0\"></span>xed Rate Rese<span class=\"_ _0\"></span>t P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual Re<span class=\"_ _0\"></span>stricte<span class=\"_ _0\"></span>d Tier 1 C<span class=\"_ _0\"></span>ontingent C<span class=\"_ _0\"></span>onvertib<span class=\"_ _0\"></span>le Notes (\u2018<span class=\"_ _0\"></span>Tier 1 N<span class=\"_ _0\"></span>otes\u2019) me<span class=\"_ _0\"></span>et the definitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>quity a<span class=\"_ _0\"></span>nd acco<span class=\"_ _0\"></span>rdingly are shown a<span class=\"_ _0\"></span>s a separa<span class=\"_ _0\"></span>te catego<span class=\"_ _0\"></span>ry within e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y at the proce<span class=\"_ _0\"></span>eds of iss<span class=\"_ _0\"></span>ue. The co<span class=\"_ _0\"></span>upons on th<span class=\"_ _0\"></span>e instrum<span class=\"_ _0\"></span>ents are rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed as distr<span class=\"_ _0\"></span>ibutions on th<span class=\"_ _0\"></span>e date of payment a<span class=\"_ _0\"></span>nd are charg<span class=\"_ _0\"></span>ed direc<span class=\"_ _0\"></span>tly to the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w3c1 h22c\" id=\"_90590834-ee18-4ed1-ba1f-3c1aa7e7f274\"><tr><td></td><td class=\"t m0 x1ce h29 y5be9 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5be9 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bea ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w128 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r 1 Notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b1 y5b4c w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b2 y5b4c w1a4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>On 26 A<span class=\"_ _0\"></span>pril 2018<span class=\"_ _0\"></span>, Old P<span class=\"_ _0\"></span>GH (the Group\u2019s ultimate parent c<span class=\"_ _0\"></span>ompany up to De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2018) is<span class=\"_ _0\"></span>sued \u00a35<span class=\"_ _0\"></span>00 million of T<span class=\"_ _0\"></span>ier 1 Notes<span class=\"_ _0\"></span>, the proc<span class=\"_ _0\"></span>eeds of whic<span class=\"_ _0\"></span>h were use<span class=\"_ _0\"></span>d to fund a po<span class=\"_ _0\"></span>rtion of the c<span class=\"_ _0\"></span>ash con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the acquis<span class=\"_ _0\"></span>ition of the Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>urance bu<span class=\"_ _0\"></span>siness<span class=\"_ _0\"></span>es. Th<span class=\"_ _0\"></span>e Tier 1 Note<span class=\"_ _0\"></span>s bear interes<span class=\"_ _0\"></span>t on their p<span class=\"_ _0\"></span>rincipal am<span class=\"_ _0\"></span>ount at a fixed ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e of 5<span class=\"_ _0\"></span>.75% per annum up to th<span class=\"_ _0\"></span>e \u2018Fir<span class=\"_ _0\"></span>st Call Da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e\u2019 of 2<span class=\"_ _0\"></span>6 April 2028<span class=\"_ _0\"></span>. Thereaf<span class=\"_ _0\"></span>ter the fixe<span class=\"_ _0\"></span>d rate of interest w<span class=\"_ _0\"></span>ill be rese<span class=\"_ _0\"></span>t on the Firs<span class=\"_ _0\"></span>t Call Date an<span class=\"_ _0\"></span>d on each fif<span class=\"_ _0\"></span>th anniver<span class=\"_ _0\"></span>sar<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>is date by reference to a 5<span class=\"_ _0\"></span>-year gil<span class=\"_ _0\"></span>t yield plus a m<span class=\"_ _0\"></span>argin of 4.16<span class=\"_ _0\"></span>9%<span class=\"_ _0\"></span>. Interest is p<span class=\"_ _0\"></span>ayable on the T<span class=\"_ _0\"></span>ier 1 Notes se<span class=\"_ _0\"></span>mi-annu<span class=\"_ _0\"></span>ally in arrear<span class=\"_ _0\"></span>s on 26 Octob<span class=\"_ _0\"></span>er and 26 A<span class=\"_ _0\"></span>pril. The co<span class=\"_ _0\"></span>upon paid in th<span class=\"_ _0\"></span>e year was \u00a32<span class=\"_ _0\"></span>9 million (2023: \u00a3<span class=\"_ _0\"></span>29 million).<span class=\"_ _3bd\"> </span>At the is<span class=\"_ _0\"></span>sue date, the T<span class=\"_ _0\"></span>ier 1 Notes were un<span class=\"_ _0\"></span>secure<span class=\"_ _0\"></span>d and subo<span class=\"_ _0\"></span>rdinated oblig<span class=\"_ _0\"></span>ations of Old P<span class=\"_ _0\"></span>GH. O<span class=\"_ _0\"></span>n 12 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>18<span class=\"_ _0\"></span>, the Comp<span class=\"_ _0\"></span>any was substi<span class=\"_ _0\"></span>tuted in plac<span class=\"_ _0\"></span>e of Old PGH a<span class=\"_ _0\"></span>s issuer. The T<span class=\"_ _0\"></span>ier 1 Notes have no fi<span class=\"_ _0\"></span>xed maturit<span class=\"_ _0\"></span>y date an<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest is payab<span class=\"_ _0\"></span>le only at the s<span class=\"_ _0\"></span>ole and abs<span class=\"_ _0\"></span>olute discreti<span class=\"_ _0\"></span>on of the Comp<span class=\"_ _0\"></span>any; acc<span class=\"_ _0\"></span>ordingly the T<span class=\"_ _0\"></span>ier 1 Notes m<span class=\"_ _0\"></span>eet the defin<span class=\"_ _0\"></span>ition of equit<span class=\"_ _0\"></span>y for financ<span class=\"_ _0\"></span>ial repor<span class=\"_ _0\"></span>ting purp<span class=\"_ _0\"></span>oses an<span class=\"_ _0\"></span>d are disclos<span class=\"_ _0\"></span>ed as suc<span class=\"_ _0\"></span>h in the cons<span class=\"_ _0\"></span>olidated finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements<span class=\"_ _0\"></span>. If an interes<span class=\"_ _0\"></span>t payme<span class=\"_ _0\"></span>nt is not made<span class=\"_ _0\"></span>, it is canc<span class=\"_ _0\"></span>elled an<span class=\"_ _0\"></span>d it shall not ac<span class=\"_ _0\"></span>cumulate or b<span class=\"_ _0\"></span>e payable at any time th<span class=\"_ _0\"></span>ereaf<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The T<span class=\"_ _0\"></span>ier 1 Notes may b<span class=\"_ _0\"></span>e redee<span class=\"_ _0\"></span>med at par o<span class=\"_ _0\"></span>n the Firs<span class=\"_ _0\"></span>t Call Date or on any intere<span class=\"_ _0\"></span>st payme<span class=\"_ _0\"></span>nt date thereaf<span class=\"_ _0\"></span>ter at the opt<span class=\"_ _0\"></span>ion of the Comp<span class=\"_ _0\"></span>any and also in other limi<span class=\"_ _0\"></span>ted circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s. In res<span class=\"_ _0\"></span>pect of any re<span class=\"_ _0\"></span>demption or p<span class=\"_ _0\"></span>urchase of th<span class=\"_ _0\"></span>e Tier 1 Notes<span class=\"_ _0\"></span>, such re<span class=\"_ _0\"></span>demption or p<span class=\"_ _0\"></span>urchase i<span class=\"_ _0\"></span>s subjec<span class=\"_ _0\"></span>t to the rece<span class=\"_ _0\"></span>ipt of perm<span class=\"_ _0\"></span>ission to do s<span class=\"_ _0\"></span>o from the PR<span class=\"_ _0\"></span>A.<span class=\"_ _3bd\"> </span>On 27 O<span class=\"_ _0\"></span>ctober 20<span class=\"_ _0\"></span>20, the terms of th<span class=\"_ _0\"></span>e Tier 1 Note<span class=\"_ _0\"></span>s were amend<span class=\"_ _0\"></span>ed and the c<span class=\"_ _0\"></span>onseq<span class=\"_ _0\"></span>uence of a trig<span class=\"_ _0\"></span>ger event<span class=\"_ _0\"></span>, link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to the Solven<span class=\"_ _0\"></span>cy II ca<span class=\"_ _0\"></span>pital pos<span class=\"_ _0\"></span>ition, was ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>d. Previously, the T<span class=\"_ _0\"></span>ier 1 Notes were s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a perman<span class=\"_ _0\"></span>ent write-d<span class=\"_ _0\"></span>own in value to zero. The am<span class=\"_ _0\"></span>ended te<span class=\"_ _0\"></span>rms require th<span class=\"_ _0\"></span>at the Tier 1 N<span class=\"_ _0\"></span>otes would a<span class=\"_ _0\"></span>utomatica<span class=\"_ _0\"></span>lly be subj<span class=\"_ _0\"></span>ect to conver<span class=\"_ _0\"></span>sion to ordinar<span class=\"_ _0\"></span>y share<span class=\"_ _0\"></span>s of the Comp<span class=\"_ _0\"></span>any at the convers<span class=\"_ _0\"></span>ion price of \u00a31<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>00 per s<span class=\"_ _0\"></span>hare, subj<span class=\"_ _0\"></span>ect to ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the terms an<span class=\"_ _0\"></span>d conditio<span class=\"_ _0\"></span>ns of the notes and a<span class=\"_ _0\"></span>ll accru<span class=\"_ _0\"></span>ed and unpa<span class=\"_ _0\"></span>id interest wo<span class=\"_ _0\"></span>uld be can<span class=\"_ _0\"></span>celled<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>llowing any such c<span class=\"_ _0\"></span>onversion there wo<span class=\"_ _0\"></span>uld be no rein<span class=\"_ _0\"></span>statem<span class=\"_ _0\"></span>ent of any part of th<span class=\"_ _0\"></span>e principal am<span class=\"_ _0\"></span>ount of, or interest on<span class=\"_ _0\"></span>, the Tie<span class=\"_ _0\"></span>r 1 Notes at any time.<span class=\"_ _3bd\"> </span>D5<span class=\"_ _0\"></span>. Non-co<span class=\"_ _0\"></span>ntrolling interes<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span>Non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts are s<span class=\"_ _0\"></span>tated at th<span class=\"_ _0\"></span>e share of net as<span class=\"_ _0\"></span>sets at<span class=\"_ _0\"></span>tribute<span class=\"_ _0\"></span>d to the non-c<span class=\"_ _0\"></span>ontrolling intere<span class=\"_ _0\"></span>st holde<span class=\"_ _0\"></span>r at the time of ac<span class=\"_ _0\"></span>quisition, a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for the rel<span class=\"_ _0\"></span>evant share of subs<span class=\"_ _0\"></span>equent c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w3c2 h22d\" id=\"_50123a1b-bb64-4583-a532-5ee971694cb1\"><tr><td></td><td class=\"t m0 x1ce h29 y5beb ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5beb ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bec ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5bed w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b3 y5bed w284 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">549<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b4 y5bed w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">5<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bee w1a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Profit for the ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x539 y5bee w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x53a y5bee w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b42 w3c3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Dividends paid<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b5 y5b42 w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b6 y5b42 w1ae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w3c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>crease in n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b7 y5ba1 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b8 y5ba1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b9 y5b44 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">539<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ba y5b44 w1a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">5<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr></table>The n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s of \u00a3539 millio<span class=\"_ _0\"></span>n (2023: \u00a354<span class=\"_ _0\"></span>9 million) refle<span class=\"_ _0\"></span>cts third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y owner<span class=\"_ _0\"></span>ship of Patria Private Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st plc (\u2018<span class=\"_ _0\"></span>PPE<span class=\"_ _0\"></span>T\u2019) (forme<span class=\"_ _0\"></span>rly known a<span class=\"_ _0\"></span>s abrdn Private Equit<span class=\"_ _0\"></span>y Oppo<span class=\"_ _0\"></span>rtuniti<span class=\"_ _0\"></span>es T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st plc) determin<span class=\"_ _0\"></span>ed at the prop<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>onate value of the thir<span class=\"_ _0\"></span>d part<span class=\"_ _0\"></span>y interes<span class=\"_ _0\"></span>t in the underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets and<span class=\"_ gs47\"> </span>lia<span class=\"_ _0\"></span>bilities. PP<span class=\"_ _0\"></span>ET is a UK I<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t listed a<span class=\"_ _0\"></span>nd trade<span class=\"_ _0\"></span>d on the London S<span class=\"_ _0\"></span>tock Exc<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>. As at 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group he<span class=\"_ _0\"></span>ld 54.<span class=\"_ _0\"></span>3% (2023<span class=\"_ _0\"></span>: 53.<span class=\"_ _0\"></span>6%) of the issue<span class=\"_ _0\"></span>d share c<span class=\"_ _0\"></span>apital of PPE<span class=\"_ _0\"></span>T<span class=\"_ _4\"></span>. Th<span class=\"_ _0\"></span>e decrea<span class=\"_ _0\"></span>se in non-c<span class=\"_ _0\"></span>ontrolling intere<span class=\"_ _0\"></span>sts refle<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e impact of a sh<span class=\"_ _0\"></span>are buyba<span class=\"_ _0\"></span>ck under<span class=\"_ _0\"></span>taken during th<span class=\"_ _0\"></span>e year<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in PPET is h<span class=\"_ _0\"></span>eld in the with<span class=\"_ _0\"></span>-profits and uni<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed f<span class=\"_ _0\"></span>unds of the Group\u2019s life compa<span class=\"_ _0\"></span>nies. Th<span class=\"_ _0\"></span>erefore, the sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>er exposure to<span class=\"_ gs47\"> </span>the res<span class=\"_ _0\"></span>ults of PPET i<span class=\"_ _0\"></span>s limited to the impa<span class=\"_ _0\"></span>ct of thos<span class=\"_ _0\"></span>e results on th<span class=\"_ _0\"></span>e shareh<span class=\"_ _0\"></span>older share of dis<span class=\"_ _0\"></span>tributed p<span class=\"_ _0\"></span>rofits of the relev<span class=\"_ _0\"></span>ant fund. <div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2c8\">Summ<span class=\"_ _0\"></span>ary fin<span class=\"_ _0\"></span>ancial inform<span class=\"_ _0\"></span>ation showing t<span class=\"_ _0\"></span>he interest th<span class=\"_ _0\"></span>at non-c<span class=\"_ _0\"></span>ontrolling interes<span class=\"_ _0\"></span>ts have in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>tivities an<span class=\"_ _0\"></span>d cash flow<span class=\"_ _0\"></span>s is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls65 wsc0 gs2c9\">PPET<span class=\"_ _3bd\"> </span></div><div class=\"gs2ca\"><table class=\"s w3c5 h22e\" id=\"_5e24b633-d47f-42dc-8f45-001ac5f0d86b\"><tr><td></td><td class=\"t m0 x1ce h29 y5bef ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5bef ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bf0 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bf0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5bf1 ff3 fs6 fc3 sc0 lsb6 wsb4\">Statement of financial po<span class=\"_ _0\"></span>sition<span class=\"_ _2\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5bf2 w3c6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bb y5bf2 w100 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">529<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bc y5bf2 w3c7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">586<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf3 w3c8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bd y5bf3 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7be y5bf3 wcd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf4 w110 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fa y5bf4 w261 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">585<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20a y5bf4 w268 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">596<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b3b w3c9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a ws1b\">T<span class=\"_ _4\"></span>ot<span class=\"_ _0\"></span>al liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bf y5b3b w3ca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c0 y5b3b w2c2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5bf5 ff3 fs6 fc3 sc0 ls10 ws10\">Income stat<span class=\"_ _2\"></span>ement:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a12 w3cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net in<span class=\"_ _0\"></span>come<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c1 y5a12 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c2 y5a12 w2db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w3cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Profit af<span class=\"_ _0\"></span>ter tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x539 y5a45 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x53a y5a45 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3cd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71d y5b24 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d1 y5b24 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5bf6 ff3 fs6 fc3 sc0 lsc wsb\">Cash flow<span class=\"_ _2\"></span>s:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w3ce h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net in<span class=\"_ _0\"></span>crease in c<span class=\"_ _0\"></span>ash and c<span class=\"_ _0\"></span>ash equiv<span class=\"_ _0\"></span>alents<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c3 y5a16 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c4 y5a16 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1)</div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-582": {
   "value": "D. Eq<span class=\"_ _0\"></span>uit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span>D1. Share Capital<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has is<span class=\"_ _0\"></span>sued ordina<span class=\"_ _0\"></span>ry sh<span class=\"_ _0\"></span>ares which are c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d as equit<span class=\"_ _0\"></span>y. Increme<span class=\"_ _0\"></span>ntal ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal cos<span class=\"_ _0\"></span>ts that are dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to the iss<span class=\"_ _0\"></span>ue of<span class=\"_ gs47\"> </span>these share<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised in e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, net of ta<span class=\"_ _0\"></span>x.<span class=\"_ _3bd\"> </span><table class=\"s w3a0 h227\" id=\"_52726648-8f3b-49fb-b58b-35a249130555\"><tr><td></td><td class=\"t m0 x1ce h29 y5bda ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1cd ha y5bda ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bdb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1d3 ha y5bdb ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y5bdc ff2 fs6 fc3 sc0 ls1 ws1\">Is<span class=\"_ _0\"></span>sued an<span class=\"_ _0\"></span>d fully paid:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w3a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1,<span class=\"_ _0\"></span>003<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 millio<span class=\"_ _0\"></span>n ordinar<span class=\"_ _0\"></span>y shares of \u00a30.10 e<span class=\"_ _0\"></span>ach (2023<span class=\"_ _0\"></span>: 1,0<span class=\"_ _0\"></span>01.<span class=\"_ _0\"></span>5 million)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x780 y5a16 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x781 y5a16 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table>The h<span class=\"_ _0\"></span>olders of ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares are entitl<span class=\"_ _0\"></span>ed to one vote per sh<span class=\"_ _0\"></span>are on mat<span class=\"_ _0\"></span>ters to be voted o<span class=\"_ _0\"></span>n by owners an<span class=\"_ _0\"></span>d to receive su<span class=\"_ _0\"></span>ch dividend<span class=\"_ _0\"></span>s, if any, as<span class=\"_ gs47\"> </span>may be de<span class=\"_ _0\"></span>clared by th<span class=\"_ _0\"></span>e Board of Direc<span class=\"_ _0\"></span>tors in it<span class=\"_ _0\"></span>s discretion o<span class=\"_ _0\"></span>ut of legally avail<span class=\"_ _0\"></span>able profits<span class=\"_ _0\"></span>. Movem<span class=\"_ _0\"></span>ents in iss<span class=\"_ _0\"></span>ued share c<span class=\"_ _0\"></span>apital d<span class=\"_ _0\"></span>uring the<span class=\"_ gs47\"> </span>year<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w3a2 h228\" id=\"_d7f93dc3-e391-4739-ae3a-23f9fda5e51b\"><tr><td></td><td class=\"t m0 x782 h29 y5bdd ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x678 h29 y5bdd ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x783 ha y5bdd ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5bdd ff2 fs5 fc3 sc0 ls65 wsc0\">2023</td></tr><tr><td></td><td class=\"t m0 x541 h29 y5bde ff3 fs5 fc3 sc0 ls65 wsc0\"> Number</td><td class=\"t m0 x556 h29 y5bde ff3 fs5 fc3 sc0 ls1 ws1\"> \u00a3</td><td class=\"t m0 x59f ha y5bde ff2 fs5 fc3 sc0 ls21 ws23\"> Numbe<span class=\"_ _0\"></span>r</td><td class=\"t m0 x784 ha y5bde ff2 fs5 fc3 sc0 ls1 ws1\"> \u00a3<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a46 w3a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>res in issu<span class=\"_ _0\"></span>e at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x785 y5a46 w3a4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">1,00<span class=\"_ _2\"></span>1,5<span class=\"_ _2\"></span>38<span class=\"_ _2\"></span>,4<span class=\"_ _4\"></span>19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x786 y5a46 w3a5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>8<span class=\"_ _1\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x787 y5a46 w3a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d ws1f\">1,000<span class=\"_ _2\"></span>,3<span class=\"_ _4\"></span>5<span class=\"_ _2\"></span>2,<span class=\"_ _2\"></span>4<span class=\"_ _4\"></span>77<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x788 y5a46 w3a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>247<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w3a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary sh<span class=\"_ _0\"></span>ares iss<span class=\"_ _0\"></span>ued in the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x789 y5b25 w3a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>57<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78a y5b25 w3aa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78b y5b25 w3ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _1\"></span>,1<span class=\"_ _0\"></span>85<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78c y5b25 w3ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">118,59<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3ad h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Sh<span class=\"_ _0\"></span>ares in is<span class=\"_ _0\"></span>sue at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78d y5a16 w3ae h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,00<span class=\"_ _0\"></span>3,111,838<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78e y5a16 w3af h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">10<span class=\"_ _1\"></span>0,<span class=\"_ _0\"></span>311<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>18<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x78f y5a16 w3b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>01,538,4<span class=\"_ _4\"></span>1<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x790 y5a16 w3b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0,153,8<span class=\"_ _0\"></span>4<span class=\"_ _4\"></span>1<span class=\"_ _3bd\"> </span></div></td></tr></table><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs29e\">Durin<span class=\"_ _0\"></span>g the year, 1,<span class=\"_ _0\"></span>573,41<span class=\"_ _0\"></span>9 shares (2<span class=\"_ _0\"></span>023: 1,1<span class=\"_ _0\"></span>85<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>42) w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>re issue<span class=\"_ _0\"></span>d at a premium of \u00a3nil (2023<span class=\"_ _0\"></span>: \u00a36 million) in order to sat<span class=\"_ _0\"></span>isfy o<span class=\"_ _0\"></span>bligation<span class=\"_ _0\"></span>s to employees </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs29f\">under t<span class=\"_ _0\"></span>he Group\u2019s shares s<span class=\"_ _0\"></span>chemes (s<span class=\"_ _0\"></span>ee note I1). This in<span class=\"_ _0\"></span>cluded 1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>00,0<span class=\"_ _0\"></span>00 sh<span class=\"_ _0\"></span>ares (2023: n<span class=\"_ _0\"></span>il) that were iss<span class=\"_ _0\"></span>ued to the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Employe<span class=\"_ _0\"></span>e Benefit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs2a0\">at<span class=\"_ gs47\"> </span>nominal value.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a1\">The b<span class=\"_ _0\"></span>alance in th<span class=\"_ _0\"></span>e merger re<span class=\"_ _0\"></span>lief reser<span class=\"_ _0\"></span>ve arose upo<span class=\"_ _0\"></span>n the issu<span class=\"_ _0\"></span>ance of equit<span class=\"_ _0\"></span>y sha<span class=\"_ _0\"></span>res in 2020 as pa<span class=\"_ _0\"></span>rt con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the acquis<span class=\"_ _0\"></span>ition of the entire </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a2\">share c<span class=\"_ _0\"></span>apital of ReA<span class=\"_ _0\"></span>ssure Gro<span class=\"_ _0\"></span>up plc. The G<span class=\"_ _0\"></span>roup applie<span class=\"_ _0\"></span>d the relief in se<span class=\"_ _0\"></span>ction 61<span class=\"_ _0\"></span>2 o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Compan<span class=\"_ _0\"></span>ies Act 20<span class=\"_ _0\"></span>06 to pre<span class=\"_ _0\"></span>sent the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a3\">con<span class=\"_ _0\"></span>sideration re<span class=\"_ _0\"></span>ceived a<span class=\"_ _0\"></span>nd the nomin<span class=\"_ _0\"></span>al value of the sh<span class=\"_ _0\"></span>ares iss<span class=\"_ _0\"></span>ued of \u00a31<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>9 million in a merg<span class=\"_ _0\"></span>er reser<span class=\"_ _0\"></span>ve as opp<span class=\"_ _0\"></span>osed to in sha<span class=\"_ _0\"></span>re premium. D<span class=\"_ _0\"></span>uring the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a4\">peri<span class=\"_ _0\"></span>od \u00a31<span class=\"_ _0\"></span>,226 m<span class=\"_ _0\"></span>illion of the reser<span class=\"_ _0\"></span>ve was tran<span class=\"_ _0\"></span>sferred to ret<span class=\"_ _0\"></span>ained e<span class=\"_ _0\"></span>arnings follow<span class=\"_ _0\"></span>ing the impairm<span class=\"_ _0\"></span>ent of the Com<span class=\"_ _0\"></span>pany\u2019<span class=\"_ _2\"></span>s inves<span class=\"_ _0\"></span>tment in the Re<span class=\"_ _0\"></span>Assure </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs2a5\">group of co<span class=\"_ _0\"></span>mpanies a<span class=\"_ _0\"></span>s a result of the dis<span class=\"_ _0\"></span>tribution of divide<span class=\"_ _0\"></span>nds to the Co<span class=\"_ _0\"></span>mpany<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-670": {
   "value": "The Gro<span class=\"_ _0\"></span>up has is<span class=\"_ _0\"></span>sued ordina<span class=\"_ _0\"></span>ry sh<span class=\"_ _0\"></span>ares which are c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d as equit<span class=\"_ _0\"></span>y. Increme<span class=\"_ _0\"></span>ntal ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal cos<span class=\"_ _0\"></span>ts that are dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tribut<span class=\"_ _0\"></span>able to the iss<span class=\"_ _0\"></span>ue of<span class=\"_ gs47\"> </span>these share<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised in e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, net of ta<span class=\"_ _0\"></span>x.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-583": {
   "value": "D2. S<span class=\"_ _0\"></span>hares held by the emp<span class=\"_ _0\"></span>lo<span class=\"_ _2\"></span>yee b<span class=\"_ _0\"></span>enefit trust<span class=\"_ _3bd\"> </span>Where t<span class=\"_ _0\"></span>he Phoeni<span class=\"_ _0\"></span>x Group Employee B<span class=\"_ _0\"></span>enefit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t (\u2018<span class=\"_ _0\"></span>EBT\u2019) a<span class=\"_ _0\"></span>cquires sh<span class=\"_ _0\"></span>ares in the Co<span class=\"_ _0\"></span>mpany or obtain<span class=\"_ _0\"></span>s rights to purch<span class=\"_ _0\"></span>ase its s<span class=\"_ _0\"></span>hares<span class=\"_ _0\"></span>, the con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>aid (includin<span class=\"_ _0\"></span>g any attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s, ne<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f t<span class=\"_ _0\"></span>ax) is sh<span class=\"_ _0\"></span>own as a dedu<span class=\"_ _0\"></span>ction from own<span class=\"_ _0\"></span>ers\u2019 equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. G<span class=\"_ _0\"></span>ains and los<span class=\"_ _0\"></span>ses on<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ales of share<span class=\"_ _0\"></span>s held by the EBT are c<span class=\"_ _0\"></span>harged o<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>credited to th<span class=\"_ _0\"></span>e own shares a<span class=\"_ _0\"></span>ccount in eq<span class=\"_ _0\"></span>uity.<span class=\"_ _3bd\"> </span>The EBT h<span class=\"_ _0\"></span>olds share<span class=\"_ _0\"></span>s to satisf<span class=\"_ _0\"></span>y awards gr<span class=\"_ _0\"></span>anted to employe<span class=\"_ _0\"></span>es under th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s s<span class=\"_ _0\"></span>hare-ba<span class=\"_ _0\"></span>sed paym<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes.<span class=\"_ _3bd\"> </span><table class=\"s w3b2 h229\" id=\"_0c5df64a-8828-4632-ace4-bc77c726c97a\"><tr><td></td><td class=\"t m0 x1ce h29 y5bdf ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5bdf ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5be0 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5be0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b23 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x791 y5b23 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x792 y5b23 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>res acquire<span class=\"_ _0\"></span>d by the EBT<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x793 y5b24 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x709 y5b24 w22d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w3b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>res awarde<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>mployees by th<span class=\"_ _0\"></span>e EBT<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x794 y5b25 w3b6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x795 y5b25 w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x796 y5a16 w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x797 y5a16 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr></table>Durin<span class=\"_ _0\"></span>g the year 2,<span class=\"_ _0\"></span>267<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span>832 (2023<span class=\"_ _0\"></span>: 1,<span class=\"_ _0\"></span>942,<span class=\"_ _0\"></span>979) share<span class=\"_ _0\"></span>s were awarded to e<span class=\"_ _0\"></span>mployees by th<span class=\"_ _0\"></span>e EBT<span class=\"_ _4\"></span>, 2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>94<span class=\"_ _0\"></span>,85<span class=\"_ _0\"></span>4 (2023: 2<span class=\"_ _0\"></span>,477<span class=\"_ _2\"></span>,8<span class=\"_ _0\"></span>97) sh<span class=\"_ _0\"></span>ares were purch<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n market and a f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r 1,<span class=\"_ _0\"></span>500,<span class=\"_ _0\"></span>00<span class=\"_ _0\"></span>0 shares were is<span class=\"_ _0\"></span>sued to th<span class=\"_ _0\"></span>e EBT by the Comp<span class=\"_ _0\"></span>any (2023: nil). The num<span class=\"_ _0\"></span>ber of share<span class=\"_ _0\"></span>s held by the EBT at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 was 4,<span class=\"_ _0\"></span>85<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>96<span class=\"_ _0\"></span>2 (2023: 2,<span class=\"_ _0\"></span>626<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>40).<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>ompany provide<span class=\"_ _0\"></span>d the EBT with an intere<span class=\"_ _0\"></span>st-free non-re<span class=\"_ _0\"></span>cour<span class=\"_ _0\"></span>se facilit<span class=\"_ _0\"></span>y arran<span class=\"_ _0\"></span>gement to e<span class=\"_ _0\"></span>nable it to purch<span class=\"_ _0\"></span>ase the sh<span class=\"_ _0\"></span>ares.<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gsb4a\">I1. S<span class=\"_ _0\"></span>hare-b<span class=\"_ _0\"></span>ased payment<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb4b\">Equit<span class=\"_ _0\"></span>y-set<span class=\"_ _0\"></span>tled s<span class=\"_ _0\"></span>hare-b<span class=\"_ _0\"></span>ased paym<span class=\"_ _0\"></span>ents to emp<span class=\"_ _0\"></span>loyees are me<span class=\"_ _0\"></span>asured at th<span class=\"_ _0\"></span>e fair value of the e<span class=\"_ _0\"></span>quity in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts at the gr<span class=\"_ _0\"></span>ant date. The fair va<span class=\"_ _0\"></span>lue </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb4c\">exclude<span class=\"_ _0\"></span>s the effe<span class=\"_ _0\"></span>ct of non-m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et-ba<span class=\"_ _0\"></span>sed ves<span class=\"_ _0\"></span>ting condi<span class=\"_ _0\"></span>tions. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails rega<span class=\"_ _0\"></span>rding the determ<span class=\"_ _0\"></span>ination of the fair va<span class=\"_ _0\"></span>lue of equit<span class=\"_ _0\"></span>y-set<span class=\"_ _0\"></span>tled </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb4d\">share<span class=\"_ _0\"></span>-base<span class=\"_ _0\"></span>d trans<span class=\"_ _0\"></span>actions a<span class=\"_ _0\"></span>re set out be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb4e\">The fa<span class=\"_ _0\"></span>ir value determin<span class=\"_ _0\"></span>ed at the gr<span class=\"_ _0\"></span>ant date of the equit<span class=\"_ _0\"></span>y-s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>d share<span class=\"_ _0\"></span>-based p<span class=\"_ _0\"></span>ayments is e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>d on a stra<span class=\"_ _0\"></span>ight-line basis over th<span class=\"_ _0\"></span>e vesting </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb4f\">peri<span class=\"_ _0\"></span>od, bas<span class=\"_ _0\"></span>ed on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s es<span class=\"_ _0\"></span>timate of equit<span class=\"_ _0\"></span>y inst<span class=\"_ _0\"></span>ruments t<span class=\"_ _0\"></span>hat will eventuall<span class=\"_ _0\"></span>y v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st. At ea<span class=\"_ _0\"></span>ch perio<span class=\"_ _0\"></span>d end, the G<span class=\"_ _0\"></span>roup revises it<span class=\"_ _0\"></span>s estim<span class=\"_ _0\"></span>ate of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb50\">numb<span class=\"_ _0\"></span>er of equit<span class=\"_ _0\"></span>y instr<span class=\"_ _0\"></span>uments exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t of non-market-bas<span class=\"_ _0\"></span>ed vestin<span class=\"_ _0\"></span>g conditio<span class=\"_ _0\"></span>ns. The im<span class=\"_ _0\"></span>pact of the revi<span class=\"_ _0\"></span>sion of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb51\">origin<span class=\"_ _0\"></span>al estim<span class=\"_ _0\"></span>ates, if any, is reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment such t<span class=\"_ _0\"></span>hat the cumul<span class=\"_ _0\"></span>ative expens<span class=\"_ _0\"></span>e reflec<span class=\"_ _0\"></span>ts the revise<span class=\"_ _0\"></span>d estim<span class=\"_ _0\"></span>ate with a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb52\">corre<span class=\"_ _0\"></span>spondin<span class=\"_ _0\"></span>g adjus<span class=\"_ _0\"></span>tment to equi<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gsb53\">I1.1 Share-based pa<span class=\"_ _2\"></span>yment expense<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb54\">The exp<span class=\"_ _0\"></span>ense re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed for empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices re<span class=\"_ _0\"></span>ceivable dur<span class=\"_ _0\"></span>ing the year is as fo<span class=\"_ _0\"></span>llows: </div><div class=\"gsb55\"><table class=\"s w26d h2c4\" id=\"_e26ce22e-840d-47eb-a83b-f93eb369aee5\"><tr><td></td><td class=\"t m0 x1ce h29 y637f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y637f ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y6380 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6380 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 wd59 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpense a<span class=\"_ _0\"></span>rising from e<span class=\"_ _0\"></span>quity<span class=\"_ _0\"></span>-set<span class=\"_ _0\"></span>tled sha<span class=\"_ _0\"></span>re-bas<span class=\"_ _0\"></span>ed payment tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2190 y5a16 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2191 y5a16 w1b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gsb56\">I1.<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span> S<span class=\"_ _0\"></span>hare-based pa<span class=\"_ _2\"></span>yment expense<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsb57\">Lon<span class=\"_ _0\"></span>g-<span class=\"_ _2\"></span>T<span class=\"_ _2\"></span>erm I<span class=\"_ _0\"></span>ncent<span class=\"_ _0\"></span>ive Plan (\u2018<span class=\"_ _0\"></span>L<span class=\"_ _4\"></span>TI<span class=\"_ _0\"></span>P\u2019<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb58\">The p<span class=\"_ _0\"></span>urpose of the L<span class=\"_ _2\"></span>TIP i<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o m<span class=\"_ _0\"></span>otivate and inc<span class=\"_ _0\"></span>entivise de<span class=\"_ _0\"></span>livery of sus<span class=\"_ _0\"></span>taine<span class=\"_ _0\"></span>d per<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rmance over th<span class=\"_ _0\"></span>e long-term in lin<span class=\"_ _0\"></span>e with our str<span class=\"_ _0\"></span>ategy an<span class=\"_ _0\"></span>d purpose<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb59\">and to pro<span class=\"_ _0\"></span>mote alignment w<span class=\"_ _0\"></span>ith shareh<span class=\"_ _0\"></span>olders\u2019 intere<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>. The awards un<span class=\"_ _0\"></span>der this plan are in t<span class=\"_ _0\"></span>he form of nil-cos<span class=\"_ _0\"></span>t options to ac<span class=\"_ _0\"></span>quire an alloc<span class=\"_ _0\"></span>ated numb<span class=\"_ _0\"></span>er </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb5a\">of ordinar<span class=\"_ _0\"></span>y share<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb5b\">The 20<span class=\"_ _0\"></span>22 and 2023 L<span class=\"_ _2\"></span>TIP aw<span class=\"_ _0\"></span>ards are subj<span class=\"_ _0\"></span>ect to pe<span class=\"_ _0\"></span>rforman<span class=\"_ _0\"></span>ce condi<span class=\"_ _0\"></span>tions tied to th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance in res<span class=\"_ _0\"></span>pect of ne<span class=\"_ _0\"></span>t operatin<span class=\"_ _0\"></span>g cash re<span class=\"_ _0\"></span>ceipts<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb5c\">per<span class=\"_ _0\"></span>sisten<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, rel<span class=\"_ _0\"></span>ative total share<span class=\"_ _0\"></span>holder ret<span class=\"_ _0\"></span>urn (\u2018T<span class=\"_ _0\"></span>SR<span class=\"_ _0\"></span>\u2019), dec<span class=\"_ _0\"></span>arbonis<span class=\"_ _0\"></span>ation, G<span class=\"_ _0\"></span>roup in-force long<span class=\"_ _0\"></span>-term free c<span class=\"_ _0\"></span>ash (2023 L<span class=\"_ _4\"></span>T<span class=\"_ _0\"></span>IP only) and ret<span class=\"_ _0\"></span>urn on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb5d\">share<span class=\"_ _0\"></span>holder va<span class=\"_ _0\"></span>lue (2022 L<span class=\"_ _4\"></span>T<span class=\"_ _0\"></span>IP only). The 2024 L<span class=\"_ _4\"></span>TI<span class=\"_ _0\"></span>P awards are subj<span class=\"_ _0\"></span>ect to pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce con<span class=\"_ _0\"></span>ditions tied to th<span class=\"_ _0\"></span>e Group\u2019s perfor<span class=\"_ _0\"></span>mance in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f n<span class=\"_ _0\"></span>et </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb5e\">ope<span class=\"_ _0\"></span>rating ca<span class=\"_ _0\"></span>sh receipt<span class=\"_ _0\"></span>s, retur<span class=\"_ _0\"></span>n on capita<span class=\"_ _0\"></span>l, cumulati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e n<span class=\"_ _0\"></span>et flows, d<span class=\"_ _0\"></span>ecarb<span class=\"_ _0\"></span>onisation a<span class=\"_ _0\"></span>nd relative TS<span class=\"_ _0\"></span>R and divers<span class=\"_ _0\"></span>ity an<span class=\"_ _0\"></span>d inclusion<span class=\"_ _0\"></span>. See th<span class=\"_ _0\"></span>e Director<span class=\"_ _0\"></span>s\u2019 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb5f\">Remun<span class=\"_ _0\"></span>eration Rep<span class=\"_ _0\"></span>ort for f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r details of the<span class=\"_ _0\"></span>se per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e condition<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb60\">A holdin<span class=\"_ _0\"></span>g period a<span class=\"_ _0\"></span>pplies to mem<span class=\"_ _0\"></span>bers of the E<span class=\"_ _0\"></span>xecut<span class=\"_ _0\"></span>ive Commit<span class=\"_ _0\"></span>tee. On<span class=\"_ _0\"></span>ce per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e vesting re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s are satis<span class=\"_ _0\"></span>fied, awar<span class=\"_ _0\"></span>ds will not be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb61\">rele<span class=\"_ _0\"></span>ased for a fur<span class=\"_ _0\"></span>ther t<span class=\"_ _0\"></span>wo year<span class=\"_ _0\"></span>s from the third anni<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsar<span class=\"_ _0\"></span>y of the origin<span class=\"_ _0\"></span>al award date. Div<span class=\"_ _0\"></span>idends will a<span class=\"_ _0\"></span>ccrue on L<span class=\"_ _2\"></span>TIP a<span class=\"_ _0\"></span>wards until the en<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb62\">holdin<span class=\"_ _0\"></span>g period<span class=\"_ _0\"></span>. There are no c<span class=\"_ _0\"></span>ash set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent alternative<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb63\">2024 L<span class=\"_ _4\"></span>TIP aw<span class=\"_ _0\"></span>ards were grante<span class=\"_ _0\"></span>d on 28 Marc<span class=\"_ _0\"></span>h 202<span class=\"_ _2\"></span>4 and a<span class=\"_ _0\"></span>re expec<span class=\"_ _0\"></span>ted to vest on 2<span class=\"_ _0\"></span>8 March 2027<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>e 2021 L<span class=\"_ _4\"></span>T<span class=\"_ _0\"></span>IP awards ves<span class=\"_ _0\"></span>ted on 25 M<span class=\"_ _0\"></span>arch 2024. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb64\">The 20<span class=\"_ _0\"></span>22 awards will ves<span class=\"_ _0\"></span>t on 18 Ma<span class=\"_ _0\"></span>rch 2025 and th<span class=\"_ _0\"></span>e 2023 awards will ve<span class=\"_ _0\"></span>st on 17 Marc<span class=\"_ _0\"></span>h 2026. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb65\">The fa<span class=\"_ _0\"></span>ir value of these a<span class=\"_ _0\"></span>wards is est<span class=\"_ _0\"></span>imated at the aver<span class=\"_ _0\"></span>age share p<span class=\"_ _0\"></span>rice in the thre<span class=\"_ _0\"></span>e days prec<span class=\"_ _0\"></span>eding the da<span class=\"_ _0\"></span>te o<span class=\"_ _2\"></span>f gr<span class=\"_ _0\"></span>ant, tak<span class=\"_ _0\"></span>ing into acco<span class=\"_ _0\"></span>unt the terms </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb66\">and c<span class=\"_ _0\"></span>onditions up<span class=\"_ _0\"></span>on which the in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts were grante<span class=\"_ _0\"></span>d. The fair va<span class=\"_ _0\"></span>lue of the L<span class=\"_ _4\"></span>TI<span class=\"_ _0\"></span>P awards is adj<span class=\"_ _0\"></span>usted in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of the TSR pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce con<span class=\"_ _0\"></span>dition </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb67\">which is d<span class=\"_ _0\"></span>eeme<span class=\"_ _0\"></span>d to be a \u2018<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>ondition\u2019<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>e fair value of the 202<span class=\"_ _0\"></span>2, 2023 and 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 TS<span class=\"_ _0\"></span>R element<span class=\"_ _0\"></span>s of the L<span class=\"_ _4\"></span>TI<span class=\"_ _0\"></span>P awards has b<span class=\"_ _0\"></span>een ca<span class=\"_ _0\"></span>lculated us<span class=\"_ _0\"></span>ing a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb68\">Monte C<span class=\"_ _0\"></span>arlo mode<span class=\"_ _0\"></span>l. The input<span class=\"_ _0\"></span>s to this mod<span class=\"_ _0\"></span>el are shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span></div><div class=\"gsb69\"><table class=\"s wd5a h2c5\" id=\"_7c6f7d21-707a-4b6d-881c-ecb8b5d3f6a3\"><tr><td></td><td class=\"t m0 x7c5 h29 y6381 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"t m0 x1ce ha y6381 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y6381 ff2 fs5 fc3 sc0 ls65 wsc0\">2022<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x19ae h29 y6382 ff3 fs5 fc3 sc0 lsbe wsbe\">TSR performance </td><td class=\"t m0 xed8 ha y6382 ff2 fs5 fc3 sc0 ls1 ws1\">TS<span class=\"_ _0\"></span>R per<span class=\"_ _0\"></span>forma<span class=\"_ _0\"></span>nce </td><td class=\"t m0 x2192 ha y6382 ff2 fs5 fc3 sc0 ls1 ws1\">TS<span class=\"_ _0\"></span>R per<span class=\"_ _0\"></span>forma<span class=\"_ _0\"></span>nce </td></tr><tr><td></td><td class=\"t m0 xa78 h29 y6383 ff3 fs5 fc3 sc0 ls22 ws24\">condition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x801 ha y6383 ff2 fs5 fc3 sc0 ls22 ws24\">condition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6383 ff2 fs5 fc3 sc0 ls22 ws24\">condition<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62d2 wd5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>re price (p)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2193 y62d2 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">553<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2194 y62d2 w14f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">559<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bc y62d2 wd5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">639<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d3 wd5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6a ws89\">Expected<span class=\"_ _2\"></span> term<span class=\"_ _2\"></span> (y<span class=\"_ _2\"></span>ears<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2195 y62d3 w4f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">2.8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2196 y62d3 wd5e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2.8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2197 y62d3 w369 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c39 wd5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d volatilit<span class=\"_ _0\"></span>y (%<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2198 y5c39 w136 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2199 y5c39 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x219a y5c39 wa5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce6 wd60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Risk-free interes<span class=\"_ _0\"></span>t rate (%)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x219b y5ce6 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x219c y5ce6 w35d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">3<span class=\"_ _0\"></span>.31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bca y5ce6 wd61 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">1<span class=\"_ _0\"></span>.21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce8 wd62 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d dividend y<span class=\"_ _0\"></span>ield (%)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x219d y5ce8 wd63 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Div<span class=\"_ _0\"></span>idends are re<span class=\"_ _0\"></span>ceived by h<span class=\"_ _0\"></span>olders of the aw<span class=\"_ _0\"></span>ards<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x7a5 hc y6384 ff2 fs6 fc3 sc0 ls1 ws1\">therefore n<span class=\"_ _0\"></span>o adjus<span class=\"_ _0\"></span>tment to fair va<span class=\"_ _0\"></span>lue is require<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb6a\">On 20 S<span class=\"_ _0\"></span>eptembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, 4 Octob<span class=\"_ _0\"></span>er 2023 and 1<span class=\"_ _0\"></span>9 Augus<span class=\"_ _0\"></span>t 2022, L<span class=\"_ _2\"></span>TIP a<span class=\"_ _0\"></span>wards were grante<span class=\"_ _0\"></span>d to cer<span class=\"_ _0\"></span>tain senio<span class=\"_ _0\"></span>r manag<span class=\"_ _0\"></span>ement emp<span class=\"_ _0\"></span>loyees<span class=\"_ _0\"></span>. The vestin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb6b\">peri<span class=\"_ _0\"></span>ods and pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce con<span class=\"_ _0\"></span>ditions for the<span class=\"_ _0\"></span>se awards are linked to th<span class=\"_ _0\"></span>e core 2022, 2<span class=\"_ _0\"></span>023 and 2024 L<span class=\"_ _4\"></span>TIP a<span class=\"_ _0\"></span>wards respe<span class=\"_ _0\"></span>ctively.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb6c\">On 3 Apr<span class=\"_ _0\"></span>il 2023, 2<span class=\"_ _0\"></span>8 March 2024 and 20 S<span class=\"_ _0\"></span>eptember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 L<span class=\"_ _4\"></span>T<span class=\"_ _0\"></span>IP Buy-<span class=\"_ _0\"></span>out awards we<span class=\"_ _0\"></span>re granted to ce<span class=\"_ _0\"></span>rtain s<span class=\"_ _0\"></span>enior man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent employee<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>re are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb6d\">discre<span class=\"_ _0\"></span>te v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting pe<span class=\"_ _0\"></span>riods for the<span class=\"_ _0\"></span>se awards are m<span class=\"_ _0\"></span>ade on the co<span class=\"_ _0\"></span>ndition that e<span class=\"_ _0\"></span>mployees re<span class=\"_ _0\"></span>main in employm<span class=\"_ _0\"></span>ent with the Gro<span class=\"_ _0\"></span>up for the vestin<span class=\"_ _0\"></span>g period<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb6e\">Simila<span class=\"_ _0\"></span>r awards were als<span class=\"_ _0\"></span>o issue<span class=\"_ _0\"></span>d in prior perio<span class=\"_ _0\"></span>ds.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb6f\">Eac<span class=\"_ _0\"></span>h y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar<span class=\"_ _2\"></span>, the G<span class=\"_ _0\"></span>roup issue<span class=\"_ _0\"></span>s a Chair\u2019s share award un<span class=\"_ _0\"></span>der the term<span class=\"_ _0\"></span>s of the L<span class=\"_ _4\"></span>TIP w<span class=\"_ _0\"></span>hich is grante<span class=\"_ _0\"></span>d to a small numb<span class=\"_ _0\"></span>er of employee<span class=\"_ _0\"></span>s in recogn<span class=\"_ _0\"></span>ition of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb70\">their o<span class=\"_ _0\"></span>utst<span class=\"_ _0\"></span>anding cont<span class=\"_ _0\"></span>ribution in the pre<span class=\"_ _0\"></span>vious year. The awards are g<span class=\"_ _0\"></span>ranted on the s<span class=\"_ _0\"></span>ame dates a<span class=\"_ _0\"></span>s the core 2022<span class=\"_ _0\"></span>, 2023 and 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 L<span class=\"_ _4\"></span>TI<span class=\"_ _0\"></span>P awards. T<span class=\"_ _0\"></span>hese </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb71\">grant<span class=\"_ _0\"></span>s of shares are c<span class=\"_ _0\"></span>onditiona<span class=\"_ _0\"></span>l on the employe<span class=\"_ _0\"></span>es remainin<span class=\"_ _0\"></span>g in employme<span class=\"_ _0\"></span>nt with the Group for t<span class=\"_ _0\"></span>he vesting p<span class=\"_ _0\"></span>eriod an<span class=\"_ _0\"></span>d achieving a<span class=\"_ _0\"></span>n estab<span class=\"_ _0\"></span>lished </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb72\">minimum g<span class=\"_ _0\"></span>ood/<span class=\"_ _2\"></span>go<span class=\"_ _0\"></span>od per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e grading<span class=\"_ _0\"></span>. Good l<span class=\"_ _0\"></span>eavers will be ab<span class=\"_ _0\"></span>le to, exercise th<span class=\"_ _0\"></span>eir full award at ves<span class=\"_ _0\"></span>ting.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gsb73\">Deferred<span class=\"_ _2\"></span> Bonus Share Scheme (\u2018DBSS<span class=\"_ _0\"></span>\u2019)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb74\">Eac<span class=\"_ _0\"></span>h y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar<span class=\"_ _2\"></span>, unde<span class=\"_ _0\"></span>r the rules of th<span class=\"_ _0\"></span>e Annual Inc<span class=\"_ _0\"></span>entive Plan (\u2018AIP<span class=\"_ _0\"></span>\u2019) a pe<span class=\"_ _0\"></span>rcentag<span class=\"_ _0\"></span>e of the cash p<span class=\"_ _0\"></span>ayment is deferre<span class=\"_ _0\"></span>d into shares of th<span class=\"_ _0\"></span>e Company. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb75\">require<span class=\"_ _0\"></span>ment to defer is sp<span class=\"_ _0\"></span>ecific<span class=\"_ _0\"></span>ally linked to senior m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment and th<span class=\"_ _0\"></span>e Exec<span class=\"_ _0\"></span>utive Commit<span class=\"_ _0\"></span>tee is defe<span class=\"_ _0\"></span>rred into share<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e parent com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb76\">The<span class=\"_ gs47\"> </span>gr<span class=\"_ _0\"></span>ant of these sh<span class=\"_ _0\"></span>ares is con<span class=\"_ _0\"></span>ditional on th<span class=\"_ _0\"></span>e employee rem<span class=\"_ _0\"></span>aining in emp<span class=\"_ _0\"></span>loyment with th<span class=\"_ _0\"></span>e Group for a perio<span class=\"_ _0\"></span>d of three year<span class=\"_ _0\"></span>s from the date of gra<span class=\"_ _0\"></span>nt. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb77\">Goo<span class=\"_ _0\"></span>d leavers will b<span class=\"_ _0\"></span>e able to, at the di<span class=\"_ _0\"></span>scretion of the Re<span class=\"_ _0\"></span>muneratio<span class=\"_ _0\"></span>n Commit<span class=\"_ _0\"></span>tee, exerc<span class=\"_ _0\"></span>ise their f<span class=\"_ _0\"></span>ull award at vestin<span class=\"_ _0\"></span>g. Divide<span class=\"_ _0\"></span>nds will acc<span class=\"_ _0\"></span>rue for DB<span class=\"_ _0\"></span>SS </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb78\">awards over th<span class=\"_ _0\"></span>e three<span class=\"_ _0\"></span>-year deferra<span class=\"_ _0\"></span>l period<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb79\">The 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 DB<span class=\"_ _0\"></span>SS was gra<span class=\"_ _0\"></span>nted on 28 Marc<span class=\"_ _0\"></span>h 202<span class=\"_ _2\"></span>4 an<span class=\"_ _0\"></span>d is expec<span class=\"_ _0\"></span>ted to vest o<span class=\"_ _0\"></span>n 28 March 2027. The 2021 D<span class=\"_ _0\"></span>BSS award<span class=\"_ _0\"></span>s v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sted on 12 M<span class=\"_ _0\"></span>arch 2024. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb7a\">The<span class=\"_ gs47\"> </span>20<span class=\"_ _0\"></span>22 awards are exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st on 18 M<span class=\"_ _0\"></span>arch 2025 an<span class=\"_ _0\"></span>d the 2023 awar<span class=\"_ _0\"></span>ds are expec<span class=\"_ _0\"></span>ted to vest o<span class=\"_ _0\"></span>n 17 March 202<span class=\"_ _0\"></span>6. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb7b\">The fa<span class=\"_ _0\"></span>ir value of these a<span class=\"_ _0\"></span>wards is est<span class=\"_ _0\"></span>imated at the aver<span class=\"_ _0\"></span>age sha<span class=\"_ _0\"></span>re price in the thre<span class=\"_ _0\"></span>e days prec<span class=\"_ _0\"></span>eding the da<span class=\"_ _0\"></span>te o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e grant, t<span class=\"_ _0\"></span>aking into acc<span class=\"_ _0\"></span>ount the terms </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb7c\">and c<span class=\"_ _0\"></span>onditions up<span class=\"_ _0\"></span>on which the opti<span class=\"_ _0\"></span>ons were grante<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gsb7e\">ShareSave<span class=\"_ _2\"></span> sc<span class=\"_ _0\"></span>heme<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb7f\">The S<span class=\"_ _0\"></span>hareSave sc<span class=\"_ _0\"></span>heme allow<span class=\"_ _0\"></span>s partic<span class=\"_ _0\"></span>ipating emp<span class=\"_ _0\"></span>loyees in the U<span class=\"_ _0\"></span>K to save up to \u00a3500 e<span class=\"_ _0\"></span>ach month for a p<span class=\"_ _0\"></span>eriod of thre<span class=\"_ _0\"></span>e or five years<span class=\"_ _0\"></span>. The 2024 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb80\">Sha<span class=\"_ _0\"></span>reSave options we<span class=\"_ _0\"></span>re granted on 2<span class=\"_ _0\"></span>1 Octobe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>. Irish Sh<span class=\"_ _0\"></span>areSave options a<span class=\"_ _0\"></span>re no longe<span class=\"_ _0\"></span>r granted<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb81\">Unde<span class=\"_ _0\"></span>r the Share<span class=\"_ _0\"></span>Save arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, part<span class=\"_ _0\"></span>icipants rem<span class=\"_ _0\"></span>aining in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s emp<span class=\"_ _0\"></span>loyment at the e<span class=\"_ _0\"></span>nd of the three or fi<span class=\"_ _0\"></span>ve y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar saving pe<span class=\"_ _0\"></span>riod are entitl<span class=\"_ _0\"></span>ed </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb82\">to use th<span class=\"_ _0\"></span>eir savings to p<span class=\"_ _0\"></span>urchase s<span class=\"_ _0\"></span>hares at a disc<span class=\"_ _0\"></span>ounted pric<span class=\"_ _0\"></span>e (\u2019<span class=\"_ _2\"></span>exerci<span class=\"_ _0\"></span>se price\u2019<span class=\"_ _0\"></span>) The exercis<span class=\"_ _0\"></span>e price is c<span class=\"_ _0\"></span>alculated u<span class=\"_ _0\"></span>sing the thre<span class=\"_ _0\"></span>e-day avera<span class=\"_ _0\"></span>ge price<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb83\">disc<span class=\"_ _0\"></span>ounted by 20% pr<span class=\"_ _0\"></span>ior to the date of invitation<span class=\"_ _0\"></span>. Employees l<span class=\"_ _0\"></span>eaving the Gro<span class=\"_ _0\"></span>up for cer<span class=\"_ _0\"></span>tain reas<span class=\"_ _0\"></span>ons are able to us<span class=\"_ _0\"></span>e their savin<span class=\"_ _0\"></span>gs to exercise an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb84\">purch<span class=\"_ _0\"></span>ase a prorate<span class=\"_ _0\"></span>d number of sh<span class=\"_ _0\"></span>ares if they le<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e p<span class=\"_ _0\"></span>rior to the end of th<span class=\"_ _0\"></span>eir three or five yea<span class=\"_ _0\"></span>r period<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb85\">The fa<span class=\"_ _0\"></span>ir value of the option<span class=\"_ _0\"></span>s has bee<span class=\"_ _0\"></span>n determine<span class=\"_ _0\"></span>d using a Bla<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>-Sc<span class=\"_ _0\"></span>holes valu<span class=\"_ _0\"></span>ation mode<span class=\"_ _0\"></span>l. K<span class=\"_ _2\"></span>ey as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s within this valuat<span class=\"_ _0\"></span>ion model in<span class=\"_ _0\"></span>clude </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb86\">expe<span class=\"_ _0\"></span>cted sh<span class=\"_ _0\"></span>are price volat<span class=\"_ _0\"></span>ility and e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted dividen<span class=\"_ _0\"></span>d yield.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb87\">The follow<span class=\"_ _0\"></span>ing information wa<span class=\"_ _0\"></span>s relevant in the dete<span class=\"_ _0\"></span>rmination of the fa<span class=\"_ _0\"></span>ir value of the 201<span class=\"_ _0\"></span>9 to 2023 UK S<span class=\"_ _0\"></span>hareSave optio<span class=\"_ _0\"></span>ns:<span class=\"_ _3bd\"> </span></div><div class=\"gsb88\"><table class=\"s wd64 h2c6\" id=\"_960f4384-f107-4e3f-a1dd-a2cf9a256c2c\"><tr><td></td><td class=\"t m0 xdfe h29 y6385 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"t m0 x9e3 ha y6385 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48d ha y6385 ff2 fs5 fc3 sc0 ls65 wsc0\">2022<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x93f ha y6385 ff2 fs5 fc3 sc0 ls65 wsc0\">2021<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ef ha y6385 ff2 fs5 fc3 sc0 ls8d ws86\">2020 </td></tr><tr><td></td><td class=\"t m0 x942 h29 y6386 ff3 fs5 fc3 sc0 lsc4 wsc7\">Sha<span class=\"_ _0\"></span>reSave<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e5 ha y6386 ff2 fs5 fc3 sc0 ls14a ws138\">Sha<span class=\"_ _0\"></span>reSave<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 ha y6386 ff2 fs5 fc3 sc0 ls14a ws138\">Sha<span class=\"_ _0\"></span>reSave<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x917 ha y6386 ff2 fs5 fc3 sc0 ls14a ws138\">Sha<span class=\"_ _0\"></span>reSave<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x941 ha y6386 ff2 fs5 fc3 sc0 ls14a ws138\">Sha<span class=\"_ _0\"></span>reSave<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y6387 wd65 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>re price (\u00a3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x219e y6387 wd66 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>.912<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x219f y6387 wd67 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.4<span class=\"_ _0\"></span>48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a0 y6387 w2c8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">6.142<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a1 y6387 wd68 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">7<span class=\"_ _4\"></span>.486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a2 y6387 wd69 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">5.66<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6388 wd6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rcise price (<span class=\"_ _0\"></span>\u00a3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a3 y6388 wd6b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">4.<span class=\"_ _0\"></span>18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a4 y6388 wd6c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ba ws1cd\">3.7<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a5 y6388 wd6d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">5.0<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a6 y6388 w157 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">5.89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a7 y6388 wd6e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">4.<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6389 wd6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d life (<span class=\"_ _2\"></span>ye<span class=\"_ _0\"></span>ars)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21a8 y6389 wd70 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">3.<span class=\"_ _2\"></span>1 an<span class=\"_ _0\"></span>d 5<span class=\"_ _2\"></span>,1</div></td><td class=\"c n x21a9 y6389 wd71 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">3<span class=\"_ _2\"></span>.1 and 5,1</div></td><td class=\"c n x21aa y6389 wd72 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws88\">3.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> a<span class=\"_ _0\"></span>n<span class=\"_ _0\"></span>d<span class=\"_ _0\"></span> 5.<span class=\"_ _0\"></span>25</div></td><td class=\"c n x21ab y6389 wd73 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws88\">3.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> a<span class=\"_ _0\"></span>n<span class=\"_ _0\"></span>d<span class=\"_ _0\"></span> 5.<span class=\"_ _0\"></span>25</div></td><td class=\"c n x1d38 y6389 wd73 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws88\">3.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> a<span class=\"_ _0\"></span>n<span class=\"_ _0\"></span>d 5<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y638a ff2 fs6 fc3 sc0 ls1 ws1\">Risk-free rate (%) \u2013 bas<span class=\"_ _0\"></span>ed on UK g<span class=\"_ _0\"></span>overnment gil<span class=\"_ _0\"></span>ts </td><td class=\"t m0 x6b5 h23 y638a ff3 fs6 fc3 sc0 ls1d0 ws1ee\">4.2<span class=\"_ _0\"></span> (for<span class=\"_ _0\"></span> 3.1 </td><td class=\"t m0 x2f5 hc y638b ff2 fs6 fc3 sc0 ls17f ws1\">4.<span class=\"_ _4\"></span>7 (for 3<span class=\"_ _2\"></span>.1 </td><td class=\"t m0 x146a hc y638c ff2 fs6 fc3 sc0 ls1b9 ws6e\">2.0 (f<span class=\"_ _0\"></span>or 3.25 </td><td class=\"t m0 x1f9d hc y638d ff2 fs6 fc3 sc0 ls17f ws1\">0.<span class=\"_ _2\"></span>5 (for 3<span class=\"_ _2\"></span>.2<span class=\"_ _2\"></span>5<span class=\"_ _0\"></span> </td><td class=\"t m0 xb80 hc y638e ff2 fs6 fc3 sc0 ls17f ws1\">0.<span class=\"_ _2\"></span>5 (for 3<span class=\"_ _2\"></span>.2<span class=\"_ _2\"></span>5<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x28c hc y638f ff2 fs6 fc3 sc0 ls1 ws1\">comm<span class=\"_ _0\"></span>ensurate wi<span class=\"_ _0\"></span>th the expe<span class=\"_ _0\"></span>cted term of th<span class=\"_ _0\"></span>e award<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f3 h23 y638f ff3 fs6 fc3 sc0 lsb6 ws11\">year<span class=\"_ _2\"></span> scheme) </td><td class=\"t m0 x494 hc y6390 ff2 fs6 fc3 sc0 ls1a ws13\">year scheme<span class=\"_ _2\"></span>) </td><td class=\"t m0 xbff hc y6391 ff2 fs6 fc3 sc0 ls1a ws13\">year scheme<span class=\"_ _2\"></span>) </td><td class=\"t m0 x187c hc y6392 ff2 fs6 fc3 sc0 ls1a ws13\">year scheme<span class=\"_ _2\"></span>) </td><td class=\"t m0 xcc0 hc y6393 ff2 fs6 fc3 sc0 ls1a ws13\">year scheme<span class=\"_ _2\"></span>) </td></tr><tr><td></td><td class=\"t m0 xf6c h23 y6394 ff3 fs6 fc3 sc0 ls37 ws1\">and 4.1 (<span class=\"_ _2\"></span>for </td><td class=\"t m0 x1ce3 hc y6395 ff2 fs6 fc3 sc0 ls17f ws1\">and 4.5 (<span class=\"_ _2\"></span>for </td><td class=\"t m0 x49b hc y6396 ff2 fs6 fc3 sc0 ls17f ws1\">and 1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>9 (for </td><td class=\"t m0 xf6d hc y6397 ff2 fs6 fc3 sc0 ls17f ws1\">and 0.<span class=\"_ _2\"></span>7 (for </td><td class=\"t m0 x21ac hc y6398 ff2 fs6 fc3 sc0 ls17f ws1\">and 0.5 (<span class=\"_ _2\"></span>for </td></tr><tr><td></td><td class=\"t m0 x1ce7 h23 y6399 ff3 fs6 fc3 sc0 ls1ce ws1e5\">5.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> ye<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span> </td><td class=\"t m0 x3ae hc y639a ff2 fs6 fc3 sc0 ls1d1 ws88\">5.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> y<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span> </td><td class=\"t m0 x96a hc y639b ff2 fs6 fc3 sc0 ls1d1 ws88\">5.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> y<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span> </td><td class=\"t m0 x3b0 hc y639c ff2 fs6 fc3 sc0 ls1d1 ws88\">5.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> y<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span> </td><td class=\"t m0 x196a hc y639d ff2 fs6 fc3 sc0 ls1d1 ws88\">5.<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> y<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span> </td></tr><tr><td></td><td class=\"t m0 xcbc h23 y639e ff3 fs6 fc3 sc0 lsb6 wsb4\">scheme)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3a9 hc y639f ff2 fs6 fc3 sc0 ls1a ws1b\">scheme)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 hc y63a0 ff2 fs6 fc3 sc0 ls1a ws1b\">scheme)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x917 hc y63a1 ff2 fs6 fc3 sc0 ls1a ws1b\">scheme)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x91d hc y63a2 ff2 fs6 fc3 sc0 ls1a ws1b\">scheme)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y63a3 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d volatilit<span class=\"_ _0\"></span>y (%<span class=\"_ _2\"></span>) b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s share p<span class=\"_ _0\"></span>rice </td><td class=\"c n x21ad y5c3a wd74 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">22.0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ae y5c3a w9cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">23.0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21af y5c3a wd75 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">30.0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b0 y5c3a wd75 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">30.0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b1 y5c3a wd76 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">30.0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y63a4 ff2 fs6 fc3 sc0 ls1 ws1\">volatilit<span class=\"_ _0\"></span>y to date<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5a16 wd77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Dividend<span class=\"_ _2\"></span> yield (%<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc39 y5a16 wd78 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">10.9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b2 y5a16 wd79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">11<span class=\"_ _0\"></span>.5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b3 y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b4 y5a16 wd7a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">6.3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b5 y5a16 wd7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">8.2<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb89\">The i<span class=\"_ _0\"></span>nforma<span class=\"_ _0\"></span>tion fo<span class=\"_ _0\"></span>r determ<span class=\"_ _0\"></span>ining t<span class=\"_ _0\"></span>he fair v<span class=\"_ _0\"></span>alue of th<span class=\"_ _0\"></span>e 2021 I<span class=\"_ _0\"></span>rish S<span class=\"_ _0\"></span>hareS<span class=\"_ _0\"></span>ave opt<span class=\"_ _0\"></span>ions dif<span class=\"_ _0\"></span>fere<span class=\"_ _0\"></span>d from th<span class=\"_ _0\"></span>at inc<span class=\"_ _0\"></span>lude<span class=\"_ _0\"></span>d in the ta<span class=\"_ _0\"></span>ble ab<span class=\"_ _0\"></span>ove as foll<span class=\"_ _0\"></span>ows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb8a\">- Sh<span class=\"_ _0\"></span>are pri<span class=\"_ _0\"></span>ce (\u20ac): 8<span class=\"_ _0\"></span>.61<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb8b\">- Ex<span class=\"_ _0\"></span>ercis<span class=\"_ _0\"></span>e pric<span class=\"_ _0\"></span>e (\u20ac): 6.<span class=\"_ _0\"></span>88<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb8c\">- Ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-f<span class=\"_ _0\"></span>ree ra<span class=\"_ _0\"></span>te (%): (0<span class=\"_ _0\"></span>.3) (for 5<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>5 year sc<span class=\"_ _0\"></span>hem<span class=\"_ _0\"></span>e)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb8d\">- No S<span class=\"_ _0\"></span>hareS<span class=\"_ _0\"></span>ave awa<span class=\"_ _0\"></span>rds have b<span class=\"_ _0\"></span>een g<span class=\"_ _0\"></span>rante<span class=\"_ _0\"></span>d to Iris<span class=\"_ _0\"></span>h emplo<span class=\"_ _0\"></span>yees s<span class=\"_ _0\"></span>ince 20<span class=\"_ _0\"></span>22.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gsb8e\">Share Incentiv<span class=\"_ _2\"></span>e Plan<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb8f\">The Gro<span class=\"_ _0\"></span>up operate<span class=\"_ _0\"></span>s two Sh<span class=\"_ _0\"></span>are Ince<span class=\"_ _0\"></span>ntive Plans (\u2018<span class=\"_ _0\"></span>SIP<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) available to UK a<span class=\"_ _0\"></span>nd Irish em<span class=\"_ _0\"></span>ployees<span class=\"_ _0\"></span>. Each plan a<span class=\"_ _0\"></span>llows par<span class=\"_ _0\"></span>ticipating e<span class=\"_ _0\"></span>mployees to purc<span class=\"_ _0\"></span>hase </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb90\">\u2018<span class=\"_ _0\"></span>P<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>rtne<span class=\"_ _0\"></span>rship share<span class=\"_ _0\"></span>s\u2019 in the Group thro<span class=\"_ _0\"></span>ugh monthly c<span class=\"_ _0\"></span>ontribution<span class=\"_ _0\"></span>s from salar<span class=\"_ _0\"></span>y. In respe<span class=\"_ _0\"></span>ct of the UK S<span class=\"_ _0\"></span>IP<span class=\"_ _4\"></span>, e<span class=\"_ _0\"></span>mployees c<span class=\"_ _0\"></span>an contribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e up to \u00a3<span class=\"_ _0\"></span>150 pe<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb91\">month or 1<span class=\"_ _0\"></span>0% of salar<span class=\"_ _0\"></span>y (whicheve<span class=\"_ _0\"></span>r is lower)<span class=\"_ _2\"></span>. For e<span class=\"_ _0\"></span>ach \u2018<span class=\"_ _0\"></span>Partne<span class=\"_ _0\"></span>rship sha<span class=\"_ _0\"></span>res awarded<span class=\"_ _0\"></span>, the Group awa<span class=\"_ _0\"></span>rds \u2018M<span class=\"_ _0\"></span>atching share<span class=\"_ _0\"></span>s\u2019 on a 1:1 basis up to a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb92\">max<span class=\"_ _0\"></span>imum of \u00a350. Divi<span class=\"_ _0\"></span>dend payme<span class=\"_ _0\"></span>nts are reinves<span class=\"_ _0\"></span>ted into fur<span class=\"_ _0\"></span>ther share<span class=\"_ _0\"></span>s. The I<span class=\"_ _0\"></span>rish SIP<span class=\"_ _2\"></span>, allow<span class=\"_ _0\"></span>s employees to c<span class=\"_ _0\"></span>ontribute up to a\u20ac<span class=\"_ _0\"></span>40 p<span class=\"_ _0\"></span>er month or 7<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>5% </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb93\">(whichever i<span class=\"_ _0\"></span>s lower)<span class=\"_ _2\"></span>. \u2018<span class=\"_ _0\"></span>Matchin<span class=\"_ _0\"></span>g shares\u2019 are awar<span class=\"_ _0\"></span>ded on a 1.<span class=\"_ _0\"></span>4 basis up a ma<span class=\"_ _0\"></span>ximum of \u20ac4<span class=\"_ _0\"></span>0. Divide<span class=\"_ _0\"></span>nds are paid in c<span class=\"_ _0\"></span>ash unde<span class=\"_ _0\"></span>r the Irish S<span class=\"_ _0\"></span>IP<span class=\"_ _4\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb94\">The fa<span class=\"_ _0\"></span>ir value of the Match<span class=\"_ _0\"></span>ing shares g<span class=\"_ _0\"></span>ranted is es<span class=\"_ _0\"></span>timated a<span class=\"_ _0\"></span>s the share pric<span class=\"_ _0\"></span>e at date of grant<span class=\"_ _0\"></span>, taking into ac<span class=\"_ _0\"></span>count terms an<span class=\"_ _0\"></span>d conditio<span class=\"_ _0\"></span>ns upon which </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb95\">the ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s were grante<span class=\"_ _0\"></span>d. At 31 Dec<span class=\"_ _0\"></span>ember 2024<span class=\"_ _0\"></span>, 611,<span class=\"_ _0\"></span>207 matching sh<span class=\"_ _0\"></span>ares (excluding unre<span class=\"_ _0\"></span>stricte<span class=\"_ _0\"></span>d shares) were c<span class=\"_ _0\"></span>onditiona<span class=\"_ _0\"></span>lly awarded to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1a ws1b gsb96\">employees (2023: 54<span class=\"_ _0\"></span>6,4<span class=\"_ _0\"></span>30).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsb97\">I1<span class=\"_ _0\"></span>.3 Move<span class=\"_ _0\"></span>ments i<span class=\"_ _0\"></span>n the year<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb98\">The follow<span class=\"_ _0\"></span>ing table<span class=\"_ _0\"></span>s illustrate th<span class=\"_ _0\"></span>e number of, and movem<span class=\"_ _0\"></span>ents in<span class=\"_ _0\"></span>, L<span class=\"_ _4\"></span>TIP<span class=\"_ _2\"></span>, Sha<span class=\"_ _0\"></span>reSave and DB<span class=\"_ _0\"></span>SS sha<span class=\"_ _0\"></span>re options during th<span class=\"_ _0\"></span>e year: </div><div class=\"gsb99\"><table class=\"s wd7c h2c7\" id=\"_e452a1df-bbec-404c-97c7-b68a8f256db3\"><tr><td></td><td></td><td class=\"t m0 x21b6 h29 y63a5 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x1e2b h29 y63a6 ff3 fs5 fc3 sc0 ls1 ws1\">Nu<span class=\"_ _0\"></span>mber o<span class=\"_ _0\"></span>f shar<span class=\"_ _0\"></span>e optio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"c n x252 y63a7 wd7d h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls3d ws7\">LT<span class=\"_ _0\"></span>I<span class=\"_ _0\"></span>P<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b7 y63a7 wd7e h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsc4 wsc7\">S<span class=\"_ _0\"></span>hareSave<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b8 y63a7 wd7f h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">DB<span class=\"_ _0\"></span>SS<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6095 wd3f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Out<span class=\"_ _0\"></span>stan<span class=\"_ _0\"></span>ding at the be<span class=\"_ _0\"></span>ginning of the ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21b9 y6095 wd80 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11,111<span class=\"_ _0\"></span>,40<span class=\"_ _0\"></span>5</div></td><td class=\"c n x21ba y6095 wd81 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6d ws202\">6,84<span class=\"_ _0\"></span>4,86<span class=\"_ _2\"></span>5</div></td><td class=\"c n x21bb y6095 wd82 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls81 ws14c\">3,36<span class=\"_ _2\"></span>7<span class=\"_ _4\"></span>,966<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63a8 wd83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Grante<span class=\"_ _0\"></span>d during the yea<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21bc y63a8 wd84 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,595<span class=\"_ _0\"></span>,364</div></td><td class=\"c n x21bd y63a8 wd85 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>426<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>64<span class=\"_ _0\"></span>8</div></td><td class=\"c n x21be y63a8 wd86 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">2,52<span class=\"_ _2\"></span>5,<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6158 wd87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Forfe<span class=\"_ _0\"></span>ited during th<span class=\"_ _0\"></span>e y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21bf y6158 wd88 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>70,979)</div></td><td class=\"c n x21c0 y6158 wd89 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(176,<span class=\"_ _0\"></span>532)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c1 y6158 wd8a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>33<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6132 wd8b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Can<span class=\"_ _0\"></span>celled dur<span class=\"_ _0\"></span>ing the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c2 y6132 w7a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>258<span class=\"_ _0\"></span>)</div></td><td class=\"c n x21c3 y6132 w97e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">(<span class=\"_ _0\"></span>471<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c4 y6132 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 wd8c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rcised durin<span class=\"_ _0\"></span>g the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c5 y6099 wd8d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>,545,139)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c6 y6099 wd8e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>75,<span class=\"_ _0\"></span>229)</div></td><td class=\"c n x21c7 y6099 wd8f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">(730,869)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 wd90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpired during t<span class=\"_ _0\"></span>he year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c8 y5c34 wd8e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(33<span class=\"_ _0\"></span>,88<span class=\"_ _0\"></span>4)</div></td><td class=\"c n x21c9 y5c34 wd91 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(576<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>65)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fe y5c34 wd35 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(11<span class=\"_ _0\"></span>,753)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 wd92 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Dividends on vested awards<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ca y5b43 wd93 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">635,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21cb y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21cc y5b43 w45d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">151<span class=\"_ _1\"></span>,31<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 wd94 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Out<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>nding at th<span class=\"_ _0\"></span>e end of the ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21cd y5b44 wd95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1dd ws1f7\">12,487<span class=\"_ _4\"></span>,594</div></td><td class=\"c n x21ce y5b44 wd96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>971<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>478</div></td><td class=\"c n x21cf y5b44 wd97 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">5,<span class=\"_ _0\"></span>268<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wd7c h2c8\" id=\"_b8c9aa3e-c12b-46f4-be91-ff54f06c960e\"><tr><td></td><td></td><td class=\"t m0 x21b6 ha y63a9 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x1e2b ha y63aa ff2 fs5 fc3 sc0 ls1 ws1\">Num<span class=\"_ _0\"></span>ber of s<span class=\"_ _0\"></span>hare op<span class=\"_ _0\"></span>tions<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"c n x252 y63ab wd98 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls20f ws22d\">LT<span class=\"_ _0\"></span>I<span class=\"_ _0\"></span>P<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21d0 y63ab wd99 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls14a ws138\">Sh<span class=\"_ _0\"></span>areSave<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21d1 y63ab wd9a h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">DBS<span class=\"_ _0\"></span>S<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63ac wd3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Out<span class=\"_ _0\"></span>stan<span class=\"_ _0\"></span>ding at the be<span class=\"_ _0\"></span>ginning of the ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4b1 y63ac wd9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">9,3<span class=\"_ _0\"></span>87<span class=\"_ _3\"></span>,<span class=\"_ _0\"></span>235</div></td><td class=\"c n x21d2 y63ac wd9c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">5,00<span class=\"_ _2\"></span>1,906</div></td><td class=\"c n x21d3 y63ac wd9d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">2<span class=\"_ _0\"></span>,301<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63ad wd83 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Grante<span class=\"_ _0\"></span>d during the yea<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21d4 y63ad wd9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">4,202,6<span class=\"_ _0\"></span>95</div></td><td class=\"c n x21d5 y63ad wd9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">5,0<span class=\"_ _0\"></span>38,820</div></td><td class=\"c n x21d6 y63ad wd9f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,67<span class=\"_ _2\"></span>5,5<span class=\"_ _0\"></span>48<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a11 wd87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Forfe<span class=\"_ _0\"></span>ited during th<span class=\"_ _0\"></span>e y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21d7 y5a11 wda0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">(1,<span class=\"_ _2\"></span>750,<span class=\"_ _2\"></span>50<span class=\"_ _0\"></span>9<span class=\"_ _2\"></span>)</div></td><td class=\"c n x21d8 y5a11 wda1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(223,565)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eca y5a11 w666 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>29,9<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 wd8b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Can<span class=\"_ _0\"></span>celled dur<span class=\"_ _0\"></span>ing the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21d9 y5a12 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x21da y5a12 wda2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,371<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>617<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9a y5a12 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b23 wd8c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rcised durin<span class=\"_ _0\"></span>g the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21db y5b23 wda3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dd ws1f7\">(1<span class=\"_ _0\"></span>,2<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _4\"></span>,22<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>)</div></td><td class=\"c n x21dc y5b23 wda4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">(1<span class=\"_ _0\"></span>,184,1<span class=\"_ _0\"></span>3<span class=\"_ _2\"></span>2)</div></td><td class=\"c n x21dd y5b23 wda5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">(7<span class=\"_ _2\"></span>01,<span class=\"_ _2\"></span>644<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 wd90 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpired during t<span class=\"_ _0\"></span>he year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21de y5b24 w6d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(13,<span class=\"_ _0\"></span>90<span class=\"_ _0\"></span>8)</div></td><td class=\"c n x21df y5b24 wda6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>47<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e0 y5b24 wda7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>11<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>227<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 wd92 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Dividends on vested awards<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ca y5b25 wda8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">5<span class=\"_ _0\"></span>03,11<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e1 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e2 y5b25 wda9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>33<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>420<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wd94 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Out<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>nding at th<span class=\"_ _0\"></span>e end of the ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e3 y5a16 wdaa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _0\"></span>,111,4<span class=\"_ _0\"></span>05</div></td><td class=\"c n x21e4 y5a16 wdab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6c ws1ca\">6,844,865</div></td><td class=\"c n x21e5 y5a16 wdac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,367<span class=\"_ _4\"></span>,<span class=\"_ _0\"></span>96<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb9b\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e fair value of option<span class=\"_ _0\"></span>s granted durin<span class=\"_ _0\"></span>g the year was \u00a3<span class=\"_ _0\"></span>3.<span class=\"_ _0\"></span>98 (2023<span class=\"_ _0\"></span>: \u00a32.<span class=\"_ _0\"></span>92).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb9c\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e share pric<span class=\"_ _0\"></span>e at the date of exercise for t<span class=\"_ _0\"></span>he rewards exercis<span class=\"_ _0\"></span>ed is \u00a35<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>8 (2023: \u00a35<span class=\"_ _0\"></span>.46).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb9d\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e remaining c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual life for the awards o<span class=\"_ _0\"></span>utst<span class=\"_ _0\"></span>anding as at 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2024 is 5.0 ye<span class=\"_ _0\"></span>ars (2023: 5<span class=\"_ _0\"></span>.3 year<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>. </div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-671": {
   "value": "Where t<span class=\"_ _0\"></span>he Phoeni<span class=\"_ _0\"></span>x Group Employee B<span class=\"_ _0\"></span>enefit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t (\u2018<span class=\"_ _0\"></span>EBT\u2019) a<span class=\"_ _0\"></span>cquires sh<span class=\"_ _0\"></span>ares in the Co<span class=\"_ _0\"></span>mpany or obtain<span class=\"_ _0\"></span>s rights to purch<span class=\"_ _0\"></span>ase its s<span class=\"_ _0\"></span>hares<span class=\"_ _0\"></span>, the con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>aid (includin<span class=\"_ _0\"></span>g any attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s, ne<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f t<span class=\"_ _0\"></span>ax) is sh<span class=\"_ _0\"></span>own as a dedu<span class=\"_ _0\"></span>ction from own<span class=\"_ _0\"></span>ers\u2019 equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. G<span class=\"_ _0\"></span>ains and los<span class=\"_ _0\"></span>ses on<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ales of share<span class=\"_ _0\"></span>s held by the EBT are c<span class=\"_ _0\"></span>harged o<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>credited to th<span class=\"_ _0\"></span>e own shares a<span class=\"_ _0\"></span>ccount in eq<span class=\"_ _0\"></span>uity.<span class=\"_ _3bd\"> </span>Equit<span class=\"_ _0\"></span>y-set<span class=\"_ _0\"></span>tled s<span class=\"_ _0\"></span>hare-b<span class=\"_ _0\"></span>ased paym<span class=\"_ _0\"></span>ents to emp<span class=\"_ _0\"></span>loyees are me<span class=\"_ _0\"></span>asured at th<span class=\"_ _0\"></span>e fair value of the e<span class=\"_ _0\"></span>quity in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts at the gr<span class=\"_ _0\"></span>ant date. The fair va<span class=\"_ _0\"></span>lue exclude<span class=\"_ _0\"></span>s the effe<span class=\"_ _0\"></span>ct of non-m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et-ba<span class=\"_ _0\"></span>sed ves<span class=\"_ _0\"></span>ting condi<span class=\"_ _0\"></span>tions. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails rega<span class=\"_ _0\"></span>rding the determ<span class=\"_ _0\"></span>ination of the fair va<span class=\"_ _0\"></span>lue of equit<span class=\"_ _0\"></span>y-set<span class=\"_ _0\"></span>tled share<span class=\"_ _0\"></span>-base<span class=\"_ _0\"></span>d trans<span class=\"_ _0\"></span>actions a<span class=\"_ _0\"></span>re set out be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value determin<span class=\"_ _0\"></span>ed at the gr<span class=\"_ _0\"></span>ant date of the equit<span class=\"_ _0\"></span>y-s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>d share<span class=\"_ _0\"></span>-based p<span class=\"_ _0\"></span>ayments is e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>d on a stra<span class=\"_ _0\"></span>ight-line basis over th<span class=\"_ _0\"></span>e vesting peri<span class=\"_ _0\"></span>od, bas<span class=\"_ _0\"></span>ed on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s es<span class=\"_ _0\"></span>timate of equit<span class=\"_ _0\"></span>y inst<span class=\"_ _0\"></span>ruments t<span class=\"_ _0\"></span>hat will eventuall<span class=\"_ _0\"></span>y v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st. At ea<span class=\"_ _0\"></span>ch perio<span class=\"_ _0\"></span>d end, the G<span class=\"_ _0\"></span>roup revises it<span class=\"_ _0\"></span>s estim<span class=\"_ _0\"></span>ate of the numb<span class=\"_ _0\"></span>er of equit<span class=\"_ _0\"></span>y instr<span class=\"_ _0\"></span>uments exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t of non-market-bas<span class=\"_ _0\"></span>ed vestin<span class=\"_ _0\"></span>g conditio<span class=\"_ _0\"></span>ns. The im<span class=\"_ _0\"></span>pact of the revi<span class=\"_ _0\"></span>sion of the origin<span class=\"_ _0\"></span>al estim<span class=\"_ _0\"></span>ates, if any, is reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment such t<span class=\"_ _0\"></span>hat the cumul<span class=\"_ _0\"></span>ative expens<span class=\"_ _0\"></span>e reflec<span class=\"_ _0\"></span>ts the revise<span class=\"_ _0\"></span>d estim<span class=\"_ _0\"></span>ate with a corre<span class=\"_ _0\"></span>spondin<span class=\"_ _0\"></span>g adjus<span class=\"_ _0\"></span>tment to equi<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-584": {
   "value": "D3. O<span class=\"_ _0\"></span>ther Reser<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>es<span class=\"_ _3bd\"> </span>The oth<span class=\"_ _0\"></span>er reser<span class=\"_ _0\"></span>ves comp<span class=\"_ _0\"></span>rise the own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y revaluati<span class=\"_ _0\"></span>on reser<span class=\"_ _0\"></span>ve and the c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve.<span class=\"_ _3bd\"> </span>Owner-occupied property revaluation<span class=\"_ _2\"></span> reser<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span>This res<span class=\"_ _0\"></span>erve c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the revaluation s<span class=\"_ _0\"></span>urplus arisin<span class=\"_ _0\"></span>g on revaluation of own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. When a revalua<span class=\"_ _0\"></span>tion loss ar<span class=\"_ _0\"></span>ises on a previo<span class=\"_ _0\"></span>usly revalue<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>t it should b<span class=\"_ _0\"></span>e deduc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d first a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he previous reva<span class=\"_ _0\"></span>luation gain<span class=\"_ _0\"></span>. Any excess im<span class=\"_ _0\"></span>pairment will th<span class=\"_ _0\"></span>en be rec<span class=\"_ _0\"></span>orded as an im<span class=\"_ _0\"></span>pairment expe<span class=\"_ _0\"></span>nse in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Cas<span class=\"_ _0\"></span>h flow hed<span class=\"_ _0\"></span>ging re<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span>Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement, a<span class=\"_ _0\"></span>nd is repor<span class=\"_ _0\"></span>ted in net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span>Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item.<span class=\"_ _3bd\"> </span>He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d when the Gro<span class=\"_ _0\"></span>up revok<span class=\"_ _2\"></span>es t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing relations<span class=\"_ _0\"></span>hip, when the h<span class=\"_ _0\"></span>edging in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nt expires or is so<span class=\"_ _0\"></span>ld, termina<span class=\"_ _0\"></span>ted, or exercis<span class=\"_ _0\"></span>ed, or wh<span class=\"_ _0\"></span>en it no long<span class=\"_ _0\"></span>er qualifie<span class=\"_ _0\"></span>s for hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing. Any gain o<span class=\"_ _0\"></span>r loss rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income an<span class=\"_ _0\"></span>d accum<span class=\"_ _0\"></span>ulated in equi<span class=\"_ _0\"></span>ty at that t<span class=\"_ _0\"></span>ime is recycl<span class=\"_ _0\"></span>ed to profit or los<span class=\"_ _0\"></span>s over the per<span class=\"_ _0\"></span>iod the he<span class=\"_ _0\"></span>dged item im<span class=\"_ _0\"></span>pact<span class=\"_ _0\"></span>s profit or los<span class=\"_ _0\"></span>s<span class=\"fc7\">.<span class=\"_ _3bd\"> </span></span>Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edge ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy are inc<span class=\"_ _0\"></span>luded in note E1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w3b8 h22a\" id=\"_7cab5282-5c0e-494f-aaaa-425ad5b1d792\"><tr><td></td><td class=\"t m0 x798 h29 y5be1 ff3 fs5 fc3 sc0 ls9e ws9a\">Owner-occupied<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x799 h29 y5be2 ff3 fs5 fc3 sc0 lsbe wsbe\">propert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x246 h29 y5be2 ff3 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>sh flow h<span class=\"_ _0\"></span>edgi<span class=\"_ _0\"></span>ng </td><td></td></tr><tr><td></td><td class=\"t m0 x576 h29 y5be3 ff3 fs5 fc3 sc0 ls8d ws86\">revaluation<span class=\"_ _2\"></span> reser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x79a h29 y5be3 ff3 fs5 fc3 sc0 lsc4 wsc7\">rese<span class=\"_ _0\"></span>rve<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x79b h29 y5be3 ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>otal other reserves<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5be4 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5be4 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5be4 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5aca w3b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry 2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79c y5aca w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79d y5aca w2f0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79e y5aca w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a2a w3ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other comprehens<span class=\"_ _2\"></span>ive (<span class=\"_ _2\"></span>expense)<span class=\"_ _2\"></span>/income for<span class=\"_ _2\"></span> the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x79f y5a2a w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a0 y5a2a wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a1 y5a2a w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3bb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a2 y5a16 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a3 y5a16 wc7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a4 y5a16 wc7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td></tr></table>2023<span class=\"_ _3bd\"> </span><table class=\"s w3bc h22b\" id=\"_2dedcbdf-ab69-4345-bbbf-cb8c8d6ec4d1\"><tr><td></td><td class=\"t m0 x7a5 ha y5be5 ff2 fs5 fc3 sc0 ls65 wsc0\">Owner-oc<span class=\"_ _0\"></span>cupied </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x799 ha y5be6 ff2 fs5 fc3 sc0 ls26 wsc6\">proper<span class=\"_ _0\"></span>ty<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x7a6 ha y5be6 ff2 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>sh flow he<span class=\"_ _0\"></span>dgin<span class=\"_ _0\"></span>g </td><td></td></tr><tr><td></td><td class=\"t m0 x59b ha y5be7 ff2 fs5 fc3 sc0 ls4e ws48\"> revaluation reser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x7a7 ha y5be7 ff2 fs5 fc3 sc0 ls14a ws138\">rese<span class=\"_ _0\"></span>rve<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7a8 ha y5be7 ff2 fs5 fc3 sc0 ls4d wsbf\">T<span class=\"_ _2\"></span>otal ot<span class=\"_ _2\"></span>her reserves<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 ha y5be8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1d2 ha y5be8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5be8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5aca w3b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry 2023<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7a9 y5aca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7aa y5aca w1a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ab y5aca w199 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5acb w3bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other comprehens<span class=\"_ _2\"></span>ive income<span class=\"_ _2\"></span>/(<span class=\"_ _2\"></span>expense) f<span class=\"_ _2\"></span>or the y<span class=\"_ _2\"></span>ear<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ac y5acb w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7ad y5acb w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ae y5acb w3bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">(30)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x369 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7af y5a16 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5a16 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td></tr></table>At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group had in p<span class=\"_ _0\"></span>lace four cro<span class=\"_ _0\"></span>ss curren<span class=\"_ _0\"></span>cy swaps w<span class=\"_ _0\"></span>hich were desig<span class=\"_ _0\"></span>nated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts in order to ef<span class=\"_ _0\"></span>fect c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s Euro an<span class=\"_ _0\"></span>d US Dollar de<span class=\"_ _0\"></span>nominate<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s. On 12 J<span class=\"_ _0\"></span>une 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Co<span class=\"_ _0\"></span>mpany issu<span class=\"_ _0\"></span>ed US $<span class=\"_ _0\"></span>500 million C<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes and t<span class=\"_ _0\"></span>he cross c<span class=\"_ _0\"></span>urrency s<span class=\"_ _0\"></span>wap that was e<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>red into at this time wa<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>ted as a hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument. O<span class=\"_ _0\"></span>n 18 Jun<span class=\"_ _0\"></span>e 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, $5<span class=\"_ _0\"></span>00 million of the $<span class=\"_ _0\"></span>750 million Co<span class=\"_ _0\"></span>ntingently C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible T1 notes we<span class=\"_ _0\"></span>re repurchas<span class=\"_ _0\"></span>ed via a ten<span class=\"_ _0\"></span>der offer, leading to an un<span class=\"_ _0\"></span>winding of $5<span class=\"_ _0\"></span>00 million of the rel<span class=\"_ _0\"></span>ated swap arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent, which w<span class=\"_ _0\"></span>as then trea<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d as a par<span class=\"_ _0\"></span>tial disc<span class=\"_ _0\"></span>ontinuanc<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting ha<span class=\"_ _0\"></span>s been ad<span class=\"_ _0\"></span>opted effe<span class=\"_ _0\"></span>ctive from the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f d<span class=\"_ _0\"></span>esignatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e hedgin<span class=\"_ _0\"></span>g relations<span class=\"_ _0\"></span>hips. Th<span class=\"_ _0\"></span>e objec<span class=\"_ _0\"></span>tive of the hedg<span class=\"_ _0\"></span>ing relatio<span class=\"_ _0\"></span>nships is to he<span class=\"_ _0\"></span>dge the ris<span class=\"_ _0\"></span>k o<span class=\"_ _2\"></span>f va<span class=\"_ _0\"></span>riabilit<span class=\"_ _0\"></span>y in functio<span class=\"_ _0\"></span>nal curren<span class=\"_ _0\"></span>cy equival<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows with the foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y denomina<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s due to chan<span class=\"_ _0\"></span>ges in for<span class=\"_ _0\"></span>ward rates<span class=\"_ _0\"></span>. The he<span class=\"_ _0\"></span>dge ratio (i.<span class=\"_ _0\"></span>e. the relation<span class=\"_ _0\"></span>ship bet<span class=\"_ _0\"></span>ween the q<span class=\"_ _0\"></span>uantit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e hedgin<span class=\"_ _0\"></span>g instrum<span class=\"_ _0\"></span>ent and the q<span class=\"_ _0\"></span>uantity of th<span class=\"_ _0\"></span>e hedg<span class=\"_ _0\"></span>ed item in term<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>eir relative weig<span class=\"_ _0\"></span>hting) is suc<span class=\"_ _0\"></span>h that there is a<span class=\"_ _0\"></span>n exact matc<span class=\"_ _0\"></span>h in the relative weig<span class=\"_ _0\"></span>htings of the he<span class=\"_ _0\"></span>dged ite<span class=\"_ _0\"></span>ms and he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s within e<span class=\"_ _0\"></span>ach of the he<span class=\"_ _0\"></span>dging relati<span class=\"_ _0\"></span>onships<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-706": {
   "value": "The oth<span class=\"_ _0\"></span>er reser<span class=\"_ _0\"></span>ves comp<span class=\"_ _0\"></span>rise the own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y revaluati<span class=\"_ _0\"></span>on reser<span class=\"_ _0\"></span>ve and the c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve.<span class=\"_ _3bd\"> </span>Owner-occupied property revaluation<span class=\"_ _2\"></span> reser<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span>This res<span class=\"_ _0\"></span>erve c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the revaluation s<span class=\"_ _0\"></span>urplus arisin<span class=\"_ _0\"></span>g on revaluation of own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. When a revalua<span class=\"_ _0\"></span>tion loss ar<span class=\"_ _0\"></span>ises on a previo<span class=\"_ _0\"></span>usly revalue<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>t it should b<span class=\"_ _0\"></span>e deduc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d first a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he previous reva<span class=\"_ _0\"></span>luation gain<span class=\"_ _0\"></span>. Any excess im<span class=\"_ _0\"></span>pairment will th<span class=\"_ _0\"></span>en be rec<span class=\"_ _0\"></span>orded as an im<span class=\"_ _0\"></span>pairment expe<span class=\"_ _0\"></span>nse in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Cas<span class=\"_ _0\"></span>h flow hed<span class=\"_ _0\"></span>ging re<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span>Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement, a<span class=\"_ _0\"></span>nd is repor<span class=\"_ _0\"></span>ted in net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span>Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item.<span class=\"_ _3bd\"> </span>He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d when the Gro<span class=\"_ _0\"></span>up revok<span class=\"_ _2\"></span>es t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing relations<span class=\"_ _0\"></span>hip, when the h<span class=\"_ _0\"></span>edging in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nt expires or is so<span class=\"_ _0\"></span>ld, termina<span class=\"_ _0\"></span>ted, or exercis<span class=\"_ _0\"></span>ed, or wh<span class=\"_ _0\"></span>en it no long<span class=\"_ _0\"></span>er qualifie<span class=\"_ _0\"></span>s for hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing. Any gain o<span class=\"_ _0\"></span>r loss rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income an<span class=\"_ _0\"></span>d accum<span class=\"_ _0\"></span>ulated in equi<span class=\"_ _0\"></span>ty at that t<span class=\"_ _0\"></span>ime is recycl<span class=\"_ _0\"></span>ed to profit or los<span class=\"_ _0\"></span>s over the per<span class=\"_ _0\"></span>iod the he<span class=\"_ _0\"></span>dged item im<span class=\"_ _0\"></span>pact<span class=\"_ _0\"></span>s profit or los<span class=\"_ _0\"></span>s<span class=\"fc7\">.<span class=\"_ _3bd\"> </span></span>Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edge ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy are inc<span class=\"_ _0\"></span>luded in note E1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up purchas<span class=\"_ _0\"></span>es derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s princip<span class=\"_ _0\"></span>ally in conne<span class=\"_ _0\"></span>ction with t<span class=\"_ _0\"></span>he manag<span class=\"_ _0\"></span>ement of it<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t and investm<span class=\"_ _0\"></span>ent contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of reduc<span class=\"_ _0\"></span>tion of risk and ef<span class=\"_ _0\"></span>ficient p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y hold deriv<span class=\"_ _0\"></span>atives for the p<span class=\"_ _0\"></span>urpose of sellin<span class=\"_ _0\"></span>g and repurc<span class=\"_ _0\"></span>hasing in the n<span class=\"_ _0\"></span>ear term or wit<span class=\"_ _0\"></span>h the obje<span class=\"_ _0\"></span>ctive of gen<span class=\"_ _0\"></span>erating a profit f<span class=\"_ _0\"></span>rom shor<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-ter<span class=\"_ _0\"></span>m fluctua<span class=\"_ _0\"></span>tions in price o<span class=\"_ _0\"></span>r margin<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up also holds d<span class=\"_ _0\"></span>erivatives whic<span class=\"_ _0\"></span>h are design<span class=\"_ _0\"></span>ated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to he<span class=\"_ _0\"></span>dge the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings. T<span class=\"_ _0\"></span>hese he<span class=\"_ _0\"></span>dging rela<span class=\"_ _0\"></span>tionships qu<span class=\"_ _0\"></span>alify for he<span class=\"_ _0\"></span>dge ac<span class=\"_ _0\"></span>counting un<span class=\"_ _0\"></span>der IFRS 9 a<span class=\"_ _0\"></span>nd are design<span class=\"_ _0\"></span>ated as ca<span class=\"_ _0\"></span>sh flow hed<span class=\"_ _0\"></span>ges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Der<span class=\"_ _0\"></span>ivative financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed initially at f<span class=\"_ _0\"></span>air value and are s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ently reme<span class=\"_ _0\"></span>asured to fair va<span class=\"_ _0\"></span>lue. The ga<span class=\"_ _0\"></span>in or loss on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement wh<span class=\"_ _0\"></span>ere the deriv<span class=\"_ _0\"></span>atives are held for t<span class=\"_ _0\"></span>rading<span class=\"_ _0\"></span>. Where deriva<span class=\"_ _0\"></span>tive finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are h<span class=\"_ _0\"></span>eld to hed<span class=\"_ _0\"></span>ge the Group\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion of any gain or lo<span class=\"_ _0\"></span>ss that aris<span class=\"_ _0\"></span>es on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is initia<span class=\"_ _0\"></span>lly recog<span class=\"_ _0\"></span>nised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and is re<span class=\"_ _0\"></span>cycled to profi<span class=\"_ _0\"></span>t or loss as th<span class=\"_ _0\"></span>e hedg<span class=\"_ _0\"></span>ed item impa<span class=\"_ _0\"></span>cts the profit or lo<span class=\"_ _0\"></span>ss. S<span class=\"_ _0\"></span>ee notes E1 an<span class=\"_ _0\"></span>d D3 for furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edging a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-700": {
   "value": "The oth<span class=\"_ _0\"></span>er reser<span class=\"_ _0\"></span>ves comp<span class=\"_ _0\"></span>rise the own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y revaluati<span class=\"_ _0\"></span>on reser<span class=\"_ _0\"></span>ve and the c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve.<span class=\"_ _3bd\"> </span>Owner-occupied property revaluation<span class=\"_ _2\"></span> reser<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span>This res<span class=\"_ _0\"></span>erve c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the revaluation s<span class=\"_ _0\"></span>urplus arisin<span class=\"_ _0\"></span>g on revaluation of own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. When a revalua<span class=\"_ _0\"></span>tion loss ar<span class=\"_ _0\"></span>ises on a previo<span class=\"_ _0\"></span>usly revalue<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>t it should b<span class=\"_ _0\"></span>e deduc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d first a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he previous reva<span class=\"_ _0\"></span>luation gain<span class=\"_ _0\"></span>. Any excess im<span class=\"_ _0\"></span>pairment will th<span class=\"_ _0\"></span>en be rec<span class=\"_ _0\"></span>orded as an im<span class=\"_ _0\"></span>pairment expe<span class=\"_ _0\"></span>nse in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Cas<span class=\"_ _0\"></span>h flow hed<span class=\"_ _0\"></span>ging re<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span>Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement, a<span class=\"_ _0\"></span>nd is repor<span class=\"_ _0\"></span>ted in net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span>Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item.<span class=\"_ _3bd\"> </span>He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d when the Gro<span class=\"_ _0\"></span>up revok<span class=\"_ _2\"></span>es t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing relations<span class=\"_ _0\"></span>hip, when the h<span class=\"_ _0\"></span>edging in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nt expires or is so<span class=\"_ _0\"></span>ld, termina<span class=\"_ _0\"></span>ted, or exercis<span class=\"_ _0\"></span>ed, or wh<span class=\"_ _0\"></span>en it no long<span class=\"_ _0\"></span>er qualifie<span class=\"_ _0\"></span>s for hedg<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>ing. Any gain o<span class=\"_ _0\"></span>r loss rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income an<span class=\"_ _0\"></span>d accum<span class=\"_ _0\"></span>ulated in equi<span class=\"_ _0\"></span>ty at that t<span class=\"_ _0\"></span>ime is recycl<span class=\"_ _0\"></span>ed to profit or los<span class=\"_ _0\"></span>s over the per<span class=\"_ _0\"></span>iod the he<span class=\"_ _0\"></span>dged item im<span class=\"_ _0\"></span>pact<span class=\"_ _0\"></span>s profit or los<span class=\"_ _0\"></span>s<span class=\"fc7\">.<span class=\"_ _3bd\"> </span></span>Furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edge ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy are inc<span class=\"_ _0\"></span>luded in note E1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Hedge accoun<span class=\"_ _2\"></span>ting<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up design<span class=\"_ _0\"></span>ates cer<span class=\"_ _0\"></span>tain deriv<span class=\"_ _0\"></span>atives as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to effe<span class=\"_ _0\"></span>ct cas<span class=\"_ _0\"></span>h flow hedg<span class=\"_ _0\"></span>es. At the in<span class=\"_ _0\"></span>ception of the h<span class=\"_ _0\"></span>edge rel<span class=\"_ _0\"></span>ationship, the Gro<span class=\"_ _0\"></span>up docume<span class=\"_ _0\"></span>nts the rela<span class=\"_ _0\"></span>tionship bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing instr<span class=\"_ _0\"></span>ument and the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item, alo<span class=\"_ _0\"></span>ng with its ri<span class=\"_ _0\"></span>sk manag<span class=\"_ _0\"></span>ement ob<span class=\"_ _0\"></span>jecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s and its str<span class=\"_ _0\"></span>ategy for und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>aking variou<span class=\"_ _0\"></span>s hedge tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>therm<span class=\"_ _0\"></span>ore, at the inc<span class=\"_ _0\"></span>eption of the he<span class=\"_ _0\"></span>dge and o<span class=\"_ _0\"></span>n an ongoin<span class=\"_ _0\"></span>g basis<span class=\"_ _0\"></span>, the Group do<span class=\"_ _0\"></span>cuments wheth<span class=\"_ _0\"></span>er the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument is hig<span class=\"_ _0\"></span>hly effe<span class=\"_ _0\"></span>ctive in off<span class=\"_ _0\"></span>settin<span class=\"_ _0\"></span>g chang<span class=\"_ _0\"></span>es in fair value<span class=\"_ _0\"></span>s or cash flo<span class=\"_ _0\"></span>ws of the hedg<span class=\"_ _0\"></span>ed item at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the hed<span class=\"_ _0\"></span>ged risk<span class=\"_ _0\"></span>. Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in profit or loss<span class=\"_ _0\"></span>, and is in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income. Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item. He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d if: the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s hed<span class=\"_ _0\"></span>ging obj<span class=\"_ _0\"></span>ective ha<span class=\"_ _0\"></span>s chang<span class=\"_ _0\"></span>ed (can resul<span class=\"_ _0\"></span>t in a partia<span class=\"_ _0\"></span>l discontinu<span class=\"_ _0\"></span>ance); the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item or hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument no lo<span class=\"_ _0\"></span>nger exi<span class=\"_ _0\"></span>sts or is s<span class=\"_ _0\"></span>old; there is n<span class=\"_ _0\"></span>o longer an e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic relations<span class=\"_ _0\"></span>hip betwe<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged ite<span class=\"_ _0\"></span>m and the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>; or the ef<span class=\"_ _0\"></span>fect of cre<span class=\"_ _0\"></span>dit risk st<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>s to dominate the va<span class=\"_ _0\"></span>lue chang<span class=\"_ _0\"></span>es that res<span class=\"_ _0\"></span>ult from the ec<span class=\"_ _0\"></span>onomic rel<span class=\"_ _0\"></span>ationship. Any g<span class=\"_ _0\"></span>ain or loss re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y at that tim<span class=\"_ _0\"></span>e is recycle<span class=\"_ _0\"></span>d to profit or loss ove<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d the hedg<span class=\"_ _0\"></span>ed item imp<span class=\"_ _0\"></span>acts p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-693": {
   "value": "The other reserves comprise the owner-occupied property revaluation reserve and the cash flow hedging reserve. Owner-occupied property revaluation reserve This reserve comprises the revaluation surplus arising on revaluation of owner-occupied property. When a revaluation loss arises on a previously revalued asset it should be deducted first against the previous revaluation gain. Any excess impairment will then be recorded as an impairment expense in the consolidated income statement. Cash flow hedging reserve Where a cash flow hedging relationship exists, the effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in other comprehensive income and accumulated under the heading of cash flow hedging reserve. The gain or loss relating to the ineffective portion is recognised immediately in the consolidated income statement, and is reported in net investment income. Amounts previously recognised in other comprehensive income and accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss, in the same line as the recognised hedged item. Hedge accounting is discontinued when the Group revokes the hedging relationship, when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer qualifies for hedge accounting. Any gain or loss recognised in other comprehensive income and accumulated in equity at that time is recycled to profit or loss over the period the hedged item impacts profit or loss. Further details of the Group\u2019s hedge accounting policy are included in note E1. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DescriptionOfAccountingPolicyForOtherReserves",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-585": {
   "value": "D4. Tier 1 notes An equity instrument is a contract that evidences a residual interest in the assets of an entity after deducting all its liabilities. Accordingly, a financial instrument is treated as equity if: \u2022  there is no contractual obligation to deliver cash or other financial assets or to exchange financial assets or liabilities on terms that may be unfavourable; and \u2022  the instrument is a non-derivative that contains no contractual obligation to deliver a variable number of shares or is a derivative that will be settled only by the Group exchanging a fixed amount of cash or other assets for a fixed number of the Group\u2019s own equity instruments. The Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes (\u2018Tier 1 Notes\u2019) meet the definition of equity and accordingly are shown as a separate category within equity at the proceeds of issue. The coupons on the instruments are recognised as distributions on the date of payment and are charged directly to the statement of consolidated changes in equity. 2024 2023 \u00a3m \u00a3m Tier 1 Notes 494 494 On 26 April 2018, Old PGH (the Group\u2019s ultimate parent company up to December 2018) issued \u00a3500 million of Tier 1 Notes, the proceeds of which were used to fund a portion of the cash consideration for the acquisition of the Standard Life Assurance businesses. The Tier 1 Notes bear interest on their principal amount at a fixed rate of 5.75% per annum up to the \u2018First Call Date\u2019 of 26 April 2028. Thereafter the fixed rate of interest will be reset on the First Call Date and on each fifth anniversary of this date by reference to a 5-year gilt yield plus a margin of 4.169%. Interest is payable on the Tier 1 Notes semi-annually in arrears on 26 October and 26 April. The coupon paid in the year was \u00a329 million (2023: \u00a329 million). At the issue date, the Tier 1 Notes were unsecured and subordinated obligations of Old PGH. On 12 December 2018, the Company was substituted in place of Old PGH as issuer. The Tier 1 Notes have no fixed maturity date and interest is payable only at the sole and absolute discretion of the Company; accordingly the Tier 1 Notes meet the definition of equity for financial reporting purposes and are disclosed as such in the consolidated financial statements. If an interest payment is not made, it is cancelled and it shall not accumulate or be payable at any time thereafter. The Tier 1 Notes may be redeemed at par on the First Call Date or on any interest payment date thereafter at the option of the Company and also in other limited circumstances. In respect of any redemption or purchase of the Tier 1 Notes, such redemption or purchase is subject to the receipt of permission to do so from the PRA. On 27 October 2020, the terms of the Tier 1 Notes were amended and the consequence of a trigger event, linked to the Solvency II capital position, was changed. Previously, the Tier 1 Notes were subject to a permanent write-down in value to zero. The amended terms require that the Tier 1 Notes would automatically be subject to conversion to ordinary shares of the Company at the conversion price of \u00a31,000 per share, subject to adjustment in accordance with the terms and conditions of the notes and all accrued and unpaid interest would be cancelled. Following any such conversion there would be no reinstatement of any part of the principal amount of, or interest on, the Tier 1 Notes at any time. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfTier1Notes",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-586": {
   "value": "D5<span class=\"_ _0\"></span>. Non-co<span class=\"_ _0\"></span>ntrolling interes<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span>Non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts are s<span class=\"_ _0\"></span>tated at th<span class=\"_ _0\"></span>e share of net as<span class=\"_ _0\"></span>sets at<span class=\"_ _0\"></span>tribute<span class=\"_ _0\"></span>d to the non-c<span class=\"_ _0\"></span>ontrolling intere<span class=\"_ _0\"></span>st holde<span class=\"_ _0\"></span>r at the time of ac<span class=\"_ _0\"></span>quisition, a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for the rel<span class=\"_ _0\"></span>evant share of subs<span class=\"_ _0\"></span>equent c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w3c2 h22d\" id=\"_50123a1b-bb64-4583-a532-5ee971694cb1\"><tr><td></td><td class=\"t m0 x1ce h29 y5beb ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5beb ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bec ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5bed w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b3 y5bed w284 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">549<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b4 y5bed w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">5<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bee w1a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Profit for the ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x539 y5bee w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x53a y5bee w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b42 w3c3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Dividends paid<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b5 y5b42 w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b6 y5b42 w1ae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ba1 w3c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>crease in n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b7 y5ba1 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b8 y5ba1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b9 y5b44 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">539<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ba y5b44 w1a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">5<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr></table>The n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s of \u00a3539 millio<span class=\"_ _0\"></span>n (2023: \u00a354<span class=\"_ _0\"></span>9 million) refle<span class=\"_ _0\"></span>cts third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y owner<span class=\"_ _0\"></span>ship of Patria Private Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st plc (\u2018<span class=\"_ _0\"></span>PPE<span class=\"_ _0\"></span>T\u2019) (forme<span class=\"_ _0\"></span>rly known a<span class=\"_ _0\"></span>s abrdn Private Equit<span class=\"_ _0\"></span>y Oppo<span class=\"_ _0\"></span>rtuniti<span class=\"_ _0\"></span>es T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st plc) determin<span class=\"_ _0\"></span>ed at the prop<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>onate value of the thir<span class=\"_ _0\"></span>d part<span class=\"_ _0\"></span>y interes<span class=\"_ _0\"></span>t in the underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets and<span class=\"_ gs47\"> </span>lia<span class=\"_ _0\"></span>bilities. PP<span class=\"_ _0\"></span>ET is a UK I<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t listed a<span class=\"_ _0\"></span>nd trade<span class=\"_ _0\"></span>d on the London S<span class=\"_ _0\"></span>tock Exc<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>. As at 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group he<span class=\"_ _0\"></span>ld 54.<span class=\"_ _0\"></span>3% (2023<span class=\"_ _0\"></span>: 53.<span class=\"_ _0\"></span>6%) of the issue<span class=\"_ _0\"></span>d share c<span class=\"_ _0\"></span>apital of PPE<span class=\"_ _0\"></span>T<span class=\"_ _4\"></span>. Th<span class=\"_ _0\"></span>e decrea<span class=\"_ _0\"></span>se in non-c<span class=\"_ _0\"></span>ontrolling intere<span class=\"_ _0\"></span>sts refle<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e impact of a sh<span class=\"_ _0\"></span>are buyba<span class=\"_ _0\"></span>ck under<span class=\"_ _0\"></span>taken during th<span class=\"_ _0\"></span>e year<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in PPET is h<span class=\"_ _0\"></span>eld in the with<span class=\"_ _0\"></span>-profits and uni<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed f<span class=\"_ _0\"></span>unds of the Group\u2019s life compa<span class=\"_ _0\"></span>nies. Th<span class=\"_ _0\"></span>erefore, the sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>er exposure to<span class=\"_ gs47\"> </span>the res<span class=\"_ _0\"></span>ults of PPET i<span class=\"_ _0\"></span>s limited to the impa<span class=\"_ _0\"></span>ct of thos<span class=\"_ _0\"></span>e results on th<span class=\"_ _0\"></span>e shareh<span class=\"_ _0\"></span>older share of dis<span class=\"_ _0\"></span>tributed p<span class=\"_ _0\"></span>rofits of the relev<span class=\"_ _0\"></span>ant fund. Summ<span class=\"_ _0\"></span>ary fin<span class=\"_ _0\"></span>ancial inform<span class=\"_ _0\"></span>ation showing t<span class=\"_ _0\"></span>he interest th<span class=\"_ _0\"></span>at non-c<span class=\"_ _0\"></span>ontrolling interes<span class=\"_ _0\"></span>ts have in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>tivities an<span class=\"_ _0\"></span>d cash flow<span class=\"_ _0\"></span>s is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span>PPET<span class=\"_ _3bd\"> </span><table class=\"s w3c5 h22e\" id=\"_5e24b633-d47f-42dc-8f45-001ac5f0d86b\"><tr><td></td><td class=\"t m0 x1ce h29 y5bef ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5bef ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5bf0 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5bf0 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5bf1 ff3 fs6 fc3 sc0 lsb6 wsb4\">Statement of financial po<span class=\"_ _0\"></span>sition<span class=\"_ _2\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5bf2 w3c6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bb y5bf2 w100 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">529<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bc y5bf2 w3c7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">586<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf3 w3c8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bd y5bf3 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7be y5bf3 wcd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf4 w110 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fa y5bf4 w261 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">585<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20a y5bf4 w268 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">596<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b3b w3c9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a ws1b\">T<span class=\"_ _4\"></span>ot<span class=\"_ _0\"></span>al liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bf y5b3b w3ca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c0 y5b3b w2c2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5bf5 ff3 fs6 fc3 sc0 ls10 ws10\">Income stat<span class=\"_ _2\"></span>ement:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a12 w3cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net in<span class=\"_ _0\"></span>come<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c1 y5a12 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c2 y5a12 w2db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w3cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Profit af<span class=\"_ _0\"></span>ter tax<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x539 y5a45 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x53a y5a45 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3cd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71d y5b24 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d1 y5b24 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5bf6 ff3 fs6 fc3 sc0 lsc wsb\">Cash flow<span class=\"_ _2\"></span>s:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w3ce h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net in<span class=\"_ _0\"></span>crease in c<span class=\"_ _0\"></span>ash and c<span class=\"_ _0\"></span>ash equiv<span class=\"_ _0\"></span>alents<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c3 y5a16 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c4 y5a16 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1)</div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-672": {
   "value": "Non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>sts are s<span class=\"_ _0\"></span>tated at th<span class=\"_ _0\"></span>e share of net as<span class=\"_ _0\"></span>sets at<span class=\"_ _0\"></span>tribute<span class=\"_ _0\"></span>d to the non-c<span class=\"_ _0\"></span>ontrolling intere<span class=\"_ _0\"></span>st holde<span class=\"_ _0\"></span>r at the time of ac<span class=\"_ _0\"></span>quisition, a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for the rel<span class=\"_ _0\"></span>evant share of subs<span class=\"_ _0\"></span>equent c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-587": {
   "value": "E<span class=\"_ _0\"></span>. Financial as<span class=\"_ _0\"></span>sets &amp; liabilities<span class=\"_ _3bd\"> </span>E1. Fair v<span class=\"_ _2\"></span>alues<span class=\"_ _3bd\"> </span>Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are to be c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d into one of the followin<span class=\"_ _0\"></span>g measure<span class=\"_ _0\"></span>ment cate<span class=\"_ _0\"></span>gories<span class=\"_ _0\"></span>: Fair value throug<span class=\"_ _0\"></span>h profit or los<span class=\"_ _0\"></span>s (\u2018F<span class=\"_ _0\"></span>VT<span class=\"_ _0\"></span>PL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>), fair value throu<span class=\"_ _0\"></span>gh other com<span class=\"_ _0\"></span>prehensi<span class=\"_ _0\"></span>ve i<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>come (\u2018<span class=\"_ _0\"></span>FVOC<span class=\"_ _0\"></span>I\u2019<span class=\"_ _0\"></span>) and amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. Classific<span class=\"_ _0\"></span>ation is ma<span class=\"_ _0\"></span>de base<span class=\"_ _0\"></span>d on the obj<span class=\"_ _0\"></span>ectives of th<span class=\"_ _0\"></span>e entity<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s bus<span class=\"_ _0\"></span>iness m<span class=\"_ _0\"></span>odel for man<span class=\"_ _0\"></span>aging it<span class=\"_ _0\"></span>s financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and the cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al cash flow c<span class=\"_ _0\"></span>harac<span class=\"_ _0\"></span>teristic<span class=\"_ _0\"></span>s of the instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are me<span class=\"_ _0\"></span>asured at a<span class=\"_ _0\"></span>mort<span class=\"_ _0\"></span>ised co<span class=\"_ _0\"></span>st where th<span class=\"_ _0\"></span>ey have:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al terms that g<span class=\"_ _0\"></span>ive rise to cas<span class=\"_ _0\"></span>h flows on spe<span class=\"_ _0\"></span>cified date<span class=\"_ _0\"></span>s, that re<span class=\"_ _0\"></span>present s<span class=\"_ _0\"></span>olely paym<span class=\"_ _0\"></span>ents of princip<span class=\"_ _0\"></span>al and interes<span class=\"_ _0\"></span>t on the princ<span class=\"_ _0\"></span>ipal amo<span class=\"_ _0\"></span>unt outst<span class=\"_ _0\"></span>anding; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>are he<span class=\"_ _0\"></span>ld within a busin<span class=\"_ _0\"></span>ess mo<span class=\"_ _0\"></span>del whos<span class=\"_ _0\"></span>e obje<span class=\"_ _0\"></span>ctive is achieve<span class=\"_ _0\"></span>d by holding to c<span class=\"_ _0\"></span>ollect c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual cas<span class=\"_ _0\"></span>h flows.<span class=\"_ _3bd\"> </span>The<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s are initially re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at cos<span class=\"_ _0\"></span>t, be<span class=\"_ _0\"></span>ing the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration paid for t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. All<span class=\"_ gs47\"> </span>tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s directly a<span class=\"_ _0\"></span>ttribut<span class=\"_ _0\"></span>able to the ac<span class=\"_ _0\"></span>quisition are a<span class=\"_ _0\"></span>lso includ<span class=\"_ _0\"></span>ed in the cos<span class=\"_ _0\"></span>t of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, thes<span class=\"_ _0\"></span>e financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>, using the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Equities<span class=\"_ _0\"></span>, debt se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s, colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes<span class=\"_ _0\"></span>, derivatives a<span class=\"_ _0\"></span>nd cer<span class=\"_ _0\"></span>tain loan<span class=\"_ _0\"></span>s and depo<span class=\"_ _0\"></span>sits are me<span class=\"_ _0\"></span>asured at F<span class=\"_ _0\"></span>VTP<span class=\"_ _0\"></span>L as they are man<span class=\"_ _0\"></span>aged and evaluated on a fair<span class=\"_ _2\"></span> value basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Purcha<span class=\"_ _0\"></span>ses and s<span class=\"_ _0\"></span>ales of finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d on the tra<span class=\"_ _0\"></span>de date, which is t<span class=\"_ _0\"></span>he date that the G<span class=\"_ _0\"></span>roup commit<span class=\"_ _0\"></span>s to purchas<span class=\"_ _0\"></span>e or sell the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Where d<span class=\"_ _0\"></span>erivative finan<span class=\"_ _0\"></span>cial inst<span class=\"_ _0\"></span>ruments a<span class=\"_ _0\"></span>re held to hed<span class=\"_ _0\"></span>ge the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, a<span class=\"_ _0\"></span>nd are desig<span class=\"_ _0\"></span>nated as c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges<span class=\"_ _0\"></span>, the ef<span class=\"_ _0\"></span>fective p<span class=\"_ _0\"></span>ortion of any g<span class=\"_ _0\"></span>ain or loss th<span class=\"_ _0\"></span>at arises o<span class=\"_ _0\"></span>n remeas<span class=\"_ _0\"></span>urement to fair val<span class=\"_ _0\"></span>ue is initially re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other co<span class=\"_ _0\"></span>mprehen<span class=\"_ _0\"></span>sive income a<span class=\"_ _0\"></span>nd is rec<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>led to profit or los<span class=\"_ _0\"></span>s as the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>tem impact<span class=\"_ _0\"></span>s the profit or lo<span class=\"_ _0\"></span>ss. For s<span class=\"_ _0\"></span>uch instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, the timing of th<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nition of any gain or lo<span class=\"_ _0\"></span>ss that arise<span class=\"_ _0\"></span>s on remea<span class=\"_ _0\"></span>surement to fa<span class=\"_ _0\"></span>ir value in profit or los<span class=\"_ _0\"></span>s depe<span class=\"_ _0\"></span>nds on the nat<span class=\"_ _0\"></span>ure of the hedg<span class=\"_ _0\"></span>e relations<span class=\"_ _0\"></span>hip.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has treat<span class=\"_ _0\"></span>ies in place w<span class=\"_ _0\"></span>ith third par<span class=\"_ _0\"></span>ty ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ompanies to p<span class=\"_ _0\"></span>rovide reinsura<span class=\"_ _0\"></span>nce in resp<span class=\"_ _0\"></span>ect of liabilit<span class=\"_ _0\"></span>ies that are linked to the per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of funds maint<span class=\"_ _0\"></span>ained by th<span class=\"_ _0\"></span>ose comp<span class=\"_ _0\"></span>anies. T<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>ts in que<span class=\"_ _0\"></span>stion do not tr<span class=\"_ _0\"></span>ansfer sig<span class=\"_ _0\"></span>nificant ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k and therefore a<span class=\"_ _0\"></span>re clas<span class=\"_ _0\"></span>sified as fin<span class=\"_ _0\"></span>ancial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts and are val<span class=\"_ _0\"></span>ued at fair valu<span class=\"_ _0\"></span>e through profit a<span class=\"_ _0\"></span>nd loss<span class=\"_ _0\"></span>. Thes<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are disc<span class=\"_ _0\"></span>losed un<span class=\"_ _0\"></span>der Reinsure<span class=\"_ _0\"></span>rs\u2019 share of investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial po<span class=\"_ _0\"></span>sition.<span class=\"_ _3bd\"> </span>Imp<span class=\"_ _0\"></span>airme<span class=\"_ _0\"></span>nt of finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with it<span class=\"_ _0\"></span>s loans an<span class=\"_ _0\"></span>d deposit<span class=\"_ _0\"></span>s, re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s, ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts and othe<span class=\"_ _0\"></span>r financia<span class=\"_ _0\"></span>l as<span class=\"_ _0\"></span>sets ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cos<span class=\"_ _0\"></span>t. The me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit impairm<span class=\"_ _0\"></span>ent is base<span class=\"_ _0\"></span>d on an E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Credit Los<span class=\"_ _0\"></span>s (\u2018EC<span class=\"_ _0\"></span>L<span class=\"_ _3\"></span>\u2019) m<span class=\"_ _0\"></span>odel an<span class=\"_ _0\"></span>d depend<span class=\"_ _0\"></span>s upon wheth<span class=\"_ _0\"></span>er there ha<span class=\"_ _0\"></span>s been a sig<span class=\"_ _0\"></span>nificant inc<span class=\"_ _0\"></span>rease in cre<span class=\"_ _0\"></span>dit risk.<span class=\"_ _3bd\"> </span>For thos<span class=\"_ _0\"></span>e credit exp<span class=\"_ _0\"></span>osures for whic<span class=\"_ _0\"></span>h credit risk h<span class=\"_ _0\"></span>as not incre<span class=\"_ _0\"></span>ased sig<span class=\"_ _0\"></span>nificantly s<span class=\"_ _0\"></span>ince initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion, the G<span class=\"_ _0\"></span>roup meas<span class=\"_ _0\"></span>ures loss all<span class=\"_ _0\"></span>owances at a<span class=\"_ _0\"></span>n amo<span class=\"_ _0\"></span>unt equal to the tot<span class=\"_ _0\"></span>al expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s resulting from d<span class=\"_ _0\"></span>efault events th<span class=\"_ _0\"></span>at are pos<span class=\"_ _0\"></span>sible within 12 mo<span class=\"_ _0\"></span>nths after t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting date (\u2018<span class=\"_ _0\"></span>12-month ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). For those cre<span class=\"_ _0\"></span>dit expos<span class=\"_ _0\"></span>ures for which the<span class=\"_ _0\"></span>re has be<span class=\"_ _0\"></span>en a signific<span class=\"_ _0\"></span>ant increas<span class=\"_ _0\"></span>e in credit ris<span class=\"_ _0\"></span>k since initial re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ition, the G<span class=\"_ _0\"></span>roup mea<span class=\"_ _0\"></span>sures and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es an allowan<span class=\"_ _0\"></span>ce at an amo<span class=\"_ _0\"></span>unt equal to the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>ses over th<span class=\"_ _0\"></span>e remaining life of the ex<span class=\"_ _0\"></span>posure, irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the timin<span class=\"_ _0\"></span>g of the default (<span class=\"_ _0\"></span>\u2018Lifetime ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). If the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t becom<span class=\"_ _0\"></span>es \u2018credit-impaire<span class=\"_ _0\"></span>d\u2019 (following signifi<span class=\"_ _0\"></span>cant finan<span class=\"_ _0\"></span>cial diffi<span class=\"_ _0\"></span>culty of is<span class=\"_ _0\"></span>suer<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span>borrowe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, or a defaul<span class=\"_ _0\"></span>t/brea<span class=\"_ _0\"></span>ch of a covenant), th<span class=\"_ _0\"></span>e Group will rec<span class=\"_ _0\"></span>ognise a Lifetim<span class=\"_ _0\"></span>e ECL. ECLs a<span class=\"_ _0\"></span>re derived from un<span class=\"_ _0\"></span>biased a<span class=\"_ _0\"></span>nd probabilit<span class=\"_ _0\"></span>y-we<span class=\"_ _0\"></span>ighted es<span class=\"_ _0\"></span>timates of expe<span class=\"_ _0\"></span>cted los<span class=\"_ _0\"></span>s. The lo<span class=\"_ _0\"></span>ss allowan<span class=\"_ _0\"></span>ce reduce<span class=\"_ _0\"></span>s the carr<span class=\"_ _0\"></span>ying va<span class=\"_ _0\"></span>lue of the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t and is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date. ECL<span class=\"_ _0\"></span>s and subs<span class=\"_ _0\"></span>equent reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nts of the ECL, a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>Fair<span class=\"_ _2\"></span> value estimation<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir values of finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets su<span class=\"_ _0\"></span>ch as publicl<span class=\"_ _0\"></span>y traded s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and deriva<span class=\"_ _0\"></span>tives are base<span class=\"_ _0\"></span>d on quoted m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end. Th<span class=\"_ _0\"></span>e quoted mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et pric<span class=\"_ _0\"></span>e used for fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets is t<span class=\"_ _0\"></span>he applica<span class=\"_ _0\"></span>ble bid price o<span class=\"_ _0\"></span>n the perio<span class=\"_ _0\"></span>d end date. Th<span class=\"_ _0\"></span>e fair value of investm<span class=\"_ _0\"></span>ents that a<span class=\"_ _0\"></span>re not trade<span class=\"_ _0\"></span>d in an active m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et is d<span class=\"_ _0\"></span>etermined u<span class=\"_ _0\"></span>sing valuatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnique<span class=\"_ _0\"></span>s such as broker quote<span class=\"_ _0\"></span>s, pric<span class=\"_ _0\"></span>ing model<span class=\"_ _0\"></span>s or discounte<span class=\"_ _0\"></span>d ca<span class=\"_ _0\"></span>sh flow techni<span class=\"_ _0\"></span>ques. Wh<span class=\"_ _0\"></span>ere pricing m<span class=\"_ _0\"></span>odels are u<span class=\"_ _0\"></span>sed, inp<span class=\"_ _0\"></span>uts are ba<span class=\"_ _0\"></span>sed on ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et rel<span class=\"_ _0\"></span>ated data at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd. Where dis<span class=\"_ _0\"></span>counted c<span class=\"_ _0\"></span>ash flow<span class=\"_ _3bd\"> </span>tech<span class=\"_ _0\"></span>niques are us<span class=\"_ _0\"></span>ed, es<span class=\"_ _0\"></span>timated fu<span class=\"_ _0\"></span>ture cash fl<span class=\"_ _0\"></span>ows are base<span class=\"_ _0\"></span>d on contra<span class=\"_ _0\"></span>ctual c<span class=\"_ _0\"></span>ash flows us<span class=\"_ _0\"></span>ing current ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions an<span class=\"_ _0\"></span>d market calibra<span class=\"_ _0\"></span>ted disc<span class=\"_ _0\"></span>ount rates and inte<span class=\"_ _0\"></span>rest rate as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s for similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>For units in un<span class=\"_ _0\"></span>it trust<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>s in open-e<span class=\"_ _0\"></span>nded inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>panies<span class=\"_ _0\"></span>, fair value is de<span class=\"_ _0\"></span>termined by refere<span class=\"_ _0\"></span>nce to publis<span class=\"_ _0\"></span>hed bid val<span class=\"_ _0\"></span>ues. Th<span class=\"_ _0\"></span>e fair value of re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s and floatin<span class=\"_ _0\"></span>g rate and overnight d<span class=\"_ _0\"></span>eposit<span class=\"_ _0\"></span>s with credit in<span class=\"_ _0\"></span>stitutio<span class=\"_ _0\"></span>ns is their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value. The f<span class=\"_ _0\"></span>air value of fixed intere<span class=\"_ _0\"></span>st-bearin<span class=\"_ _0\"></span>g dep<span class=\"_ _0\"></span>osits is es<span class=\"_ _0\"></span>timated us<span class=\"_ _0\"></span>ing disco<span class=\"_ _0\"></span>unted cash fl<span class=\"_ _0\"></span>ow techniqu<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Assoc<span class=\"_ _0\"></span>iates<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tments in as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>tes that are he<span class=\"_ _0\"></span>ld for investme<span class=\"_ _0\"></span>nt purpose<span class=\"_ _0\"></span>s are acco<span class=\"_ _0\"></span>unted for under I<span class=\"_ _0\"></span>FRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures<span class=\"_ _3bd\"> </span>. The<span class=\"_ _0\"></span>se are mea<span class=\"_ _0\"></span>sured at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l assets<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>et (<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r part of a gro<span class=\"_ _0\"></span>up of similar financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets) is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d where:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts to rec<span class=\"_ _0\"></span>eive cash flow<span class=\"_ _0\"></span>s from the as<span class=\"_ _0\"></span>set have expired; \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup retains th<span class=\"_ _0\"></span>e right to rece<span class=\"_ _0\"></span>ive cash flow<span class=\"_ _0\"></span>s from the ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>, but has as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d an obligation to p<span class=\"_ _0\"></span>ay them in full with<span class=\"_ _0\"></span>out materia<span class=\"_ _0\"></span>l delay to<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y under a \u2018pass<span class=\"_ _0\"></span>-through<span class=\"_ _0\"></span>\u2019 arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>; or \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has tra<span class=\"_ _0\"></span>nsferred i<span class=\"_ _0\"></span>ts rights to re<span class=\"_ _0\"></span>ceive ca<span class=\"_ _0\"></span>sh flows from the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d has eithe<span class=\"_ _0\"></span>r transfe<span class=\"_ _0\"></span>rred subs<span class=\"_ _0\"></span>tantially all th<span class=\"_ _0\"></span>e risks and rewa<span class=\"_ _0\"></span>rds of the as<span class=\"_ _0\"></span>set, or ha<span class=\"_ _0\"></span>s neither t<span class=\"_ _0\"></span>ransferre<span class=\"_ _0\"></span>d nor retain<span class=\"_ _0\"></span>ed subs<span class=\"_ _0\"></span>tantially all t<span class=\"_ _0\"></span>he risks and rewa<span class=\"_ _0\"></span>rds of the ass<span class=\"_ _0\"></span>et, but h<span class=\"_ _0\"></span>as transfe<span class=\"_ _0\"></span>rred control of th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> liab<span class=\"_ _0\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span>On initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition, fin<span class=\"_ _0\"></span>ancial liabili<span class=\"_ _0\"></span>ties are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d when due an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at the fair val<span class=\"_ _0\"></span>ue of the consid<span class=\"_ _0\"></span>eration re<span class=\"_ _0\"></span>ceived le<span class=\"_ _0\"></span>ss direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le transa<span class=\"_ _0\"></span>ction cos<span class=\"_ _0\"></span>ts (with the exc<span class=\"_ _0\"></span>eption of liabilitie<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL for which all tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion cos<span class=\"_ _0\"></span>ts are expe<span class=\"_ _0\"></span>nsed).<span class=\"_ _3bd\"> </span>Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, fin<span class=\"_ _0\"></span>ancial lia<span class=\"_ _0\"></span>bilities (except for liab<span class=\"_ _0\"></span>ilities under inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF and othe<span class=\"_ _0\"></span>r liabilities de<span class=\"_ _0\"></span>signated at FV<span class=\"_ _0\"></span>TPL) are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost using t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive interest m<span class=\"_ _0\"></span>ethod. Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s are design<span class=\"_ _0\"></span>ated upon init<span class=\"_ _0\"></span>ial reco<span class=\"_ _0\"></span>gnition at F<span class=\"_ _0\"></span>VTPL wh<span class=\"_ _0\"></span>ere doing so re<span class=\"_ _0\"></span>sults in mo<span class=\"_ _0\"></span>re meaning<span class=\"_ _0\"></span>ful information b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e either<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>it elim<span class=\"_ _0\"></span>inates or signifi<span class=\"_ _0\"></span>cantly re<span class=\"_ _0\"></span>duces ac<span class=\"_ _0\"></span>counting mi<span class=\"_ _0\"></span>smatches t<span class=\"_ _0\"></span>hat would othe<span class=\"_ _0\"></span>rwise a<span class=\"_ _0\"></span>rise from me<span class=\"_ _0\"></span>asuring as<span class=\"_ _0\"></span>sets or li<span class=\"_ _0\"></span>abilities or re<span class=\"_ _0\"></span>cognisin<span class=\"_ _0\"></span>g the gain<span class=\"_ _0\"></span>s and loss<span class=\"_ _0\"></span>es on them o<span class=\"_ _0\"></span>n different b<span class=\"_ _0\"></span>ases; or<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, financ<span class=\"_ _0\"></span>ial liabilities o<span class=\"_ _0\"></span>r both is mana<span class=\"_ _0\"></span>ged an<span class=\"_ _0\"></span>d its per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce is evaluate<span class=\"_ _0\"></span>d and mana<span class=\"_ _0\"></span>ged on a fa<span class=\"_ _0\"></span>ir value basis<span class=\"_ _0\"></span>, in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith a docum<span class=\"_ _0\"></span>ented risk ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent or investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy<span class=\"_ _2\"></span>, a<span class=\"_ _0\"></span>nd information ab<span class=\"_ _0\"></span>out the inves<span class=\"_ _0\"></span>tments is p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span>ided interna<span class=\"_ _0\"></span>lly on that basi<span class=\"_ _0\"></span>s to the Group\u2019s k<span class=\"_ _2\"></span>ey ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent per<span class=\"_ _0\"></span>sonnel.<span class=\"_ _3bd\"> </span>Inv<span class=\"_ _2\"></span>estment contracts w<span class=\"_ _2\"></span>ithout DPF<span class=\"_ _3bd\"> </span>Contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der which th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance ri<span class=\"_ _0\"></span>sk to the Group from t<span class=\"_ _0\"></span>he policyh<span class=\"_ _0\"></span>older is not s<span class=\"_ _0\"></span>ignificant a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts and a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r as financia<span class=\"_ _0\"></span>l liabilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Rec<span class=\"_ _0\"></span>eipts and p<span class=\"_ _0\"></span>ayments on inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF are acc<span class=\"_ _0\"></span>ounted for using d<span class=\"_ _0\"></span>eposit a<span class=\"_ _0\"></span>ccounting<span class=\"_ _0\"></span>, under w<span class=\"_ _0\"></span>hich the amo<span class=\"_ _0\"></span>unts colle<span class=\"_ _0\"></span>cted and pa<span class=\"_ _0\"></span>id out are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the st<span class=\"_ _0\"></span>atement of<span class=\"_ gs47\"> </span>cons<span class=\"_ _0\"></span>olidated fin<span class=\"_ _0\"></span>ancial po<span class=\"_ _0\"></span>sition as an a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent to the liabilit<span class=\"_ _0\"></span>y to<span class=\"_ gs47\"> </span>the po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at fair value wh<span class=\"_ _0\"></span>ich is determine<span class=\"_ _0\"></span>d using a valu<span class=\"_ _0\"></span>ation techni<span class=\"_ _0\"></span>que to provide a reliab<span class=\"_ _0\"></span>le estim<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e amo<span class=\"_ _0\"></span>unt f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r which the liabili<span class=\"_ _0\"></span>ty co<span class=\"_ _0\"></span>uld be trans<span class=\"_ _0\"></span>ferred in an ord<span class=\"_ _0\"></span>erly trans<span class=\"_ _0\"></span>action b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en market par<span class=\"_ _0\"></span>ticipant<span class=\"_ _0\"></span>s at the mea<span class=\"_ _0\"></span>surement date<span class=\"_ _0\"></span>, subje<span class=\"_ _0\"></span>ct to a minimum e<span class=\"_ _0\"></span>qual to the sur<span class=\"_ _0\"></span>render valu<span class=\"_ _0\"></span>e. The valuat<span class=\"_ _0\"></span>ion of liabilities on unit-linked c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s are held at t<span class=\"_ _0\"></span>he fair value of the re<span class=\"_ _0\"></span>lated as<span class=\"_ _0\"></span>sets and liabilitie<span class=\"_ _0\"></span>s. The lia<span class=\"_ _0\"></span>bility is th<span class=\"_ _0\"></span>e sum of the unit-linked liabiliti<span class=\"_ _0\"></span>es plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exc<span class=\"_ _0\"></span>ess of fut<span class=\"_ _0\"></span>ure policy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Movem<span class=\"_ _0\"></span>ents in the fair v<span class=\"_ _0\"></span>alue of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts witho<span class=\"_ _0\"></span>ut DPF and re<span class=\"_ _0\"></span>insurers\u2019 sh<span class=\"_ _0\"></span>are of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities are inc<span class=\"_ _0\"></span>luded in Ch<span class=\"_ _0\"></span>ange in investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement. Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs are charg<span class=\"_ _0\"></span>ed for polic<span class=\"_ _0\"></span>y administ<span class=\"_ _0\"></span>ration ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces, s<span class=\"_ _0\"></span>urrender<span class=\"_ _0\"></span>s and other contr<span class=\"_ _0\"></span>act fee<span class=\"_ _0\"></span>s. Thes<span class=\"_ _0\"></span>e fees are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as revenu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d in which the rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed. If the fe<span class=\"_ _0\"></span>es are for ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s provide<span class=\"_ _0\"></span>d in future pe<span class=\"_ _0\"></span>riods<span class=\"_ _0\"></span>, they are deferre<span class=\"_ _0\"></span>d and reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r those pe<span class=\"_ _0\"></span>riods. \u2018<span class=\"_ _0\"></span>Front end<span class=\"_ _0\"></span>\u2019 f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es are cha<span class=\"_ _0\"></span>rged on so<span class=\"_ _0\"></span>me non-pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>ting investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. Where the n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract is m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at fair value, s<span class=\"_ _0\"></span>uch fees whi<span class=\"_ _0\"></span>ch relate to the provisi<span class=\"_ _0\"></span>on of future investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es are deferre<span class=\"_ _0\"></span>d and rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as the ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s are provided.<span class=\"_ _3bd\"> </span>Net a<span class=\"_ _0\"></span>sset va<span class=\"_ _0\"></span>lue at<span class=\"_ _0\"></span>tribu<span class=\"_ _0\"></span>table t<span class=\"_ _0\"></span>o unitho<span class=\"_ _0\"></span>lders<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>et asset va<span class=\"_ _0\"></span>lue attr<span class=\"_ _0\"></span>ibutable to unit<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s represent<span class=\"_ _0\"></span>s the non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>st in colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes which a<span class=\"_ _0\"></span>re<span class=\"_ gs47\"> </span>consoli<span class=\"_ _0\"></span>dated by the Gro<span class=\"_ _0\"></span>up. This interes<span class=\"_ _0\"></span>t is clas<span class=\"_ _0\"></span>sified at F<span class=\"_ _0\"></span>VTPL an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at fair value<span class=\"_ _0\"></span>, which is eq<span class=\"_ _0\"></span>ual to the bid value of th<span class=\"_ _0\"></span>e number of unit<span class=\"_ _0\"></span>s of the colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>me not owne<span class=\"_ _0\"></span>d by the Group.<span class=\"_ _3bd\"> </span>Obligations for<span class=\"_ _2\"></span> repayment of<span class=\"_ _2\"></span> collateral received<span class=\"_ _3bd\"> </span>It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al in stock l<span class=\"_ _0\"></span>ending and d<span class=\"_ _0\"></span>erivative tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns, us<span class=\"_ _0\"></span>ually in the form of ca<span class=\"_ _0\"></span>sh or marketabl<span class=\"_ _0\"></span>e securit<span class=\"_ _0\"></span>ies. Where c<span class=\"_ _0\"></span>ash coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived is availab<span class=\"_ _0\"></span>le to the Group for inves<span class=\"_ _0\"></span>tment purp<span class=\"_ _0\"></span>oses<span class=\"_ _0\"></span>, it is reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s a \u2018financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>\u2019 and the c<span class=\"_ _0\"></span>ollateral rep<span class=\"_ _0\"></span>ayable is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as \u2018obligation<span class=\"_ _0\"></span>s for repayment of c<span class=\"_ _0\"></span>ollateral re<span class=\"_ _0\"></span>ceived<span class=\"_ _0\"></span>\u2019 in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition. Th<span class=\"_ _0\"></span>e \u2018<span class=\"_ _2\"></span>oblig<span class=\"_ _0\"></span>ations for repaym<span class=\"_ _0\"></span>ent of collatera<span class=\"_ _0\"></span>l receive<span class=\"_ _0\"></span>d\u2019 are mea<span class=\"_ _0\"></span>sured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t, which in th<span class=\"_ _0\"></span>e case of ca<span class=\"_ _0\"></span>sh is equiva<span class=\"_ _0\"></span>lent to the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration rec<span class=\"_ _0\"></span>eived. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s collateral a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>ote E<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l liabili<span class=\"_ _2\"></span>ties<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial liabilit<span class=\"_ _0\"></span>y is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when th<span class=\"_ _0\"></span>e obligation un<span class=\"_ _0\"></span>der the liabilit<span class=\"_ _0\"></span>y is dis<span class=\"_ _0\"></span>charge<span class=\"_ _0\"></span>d, canc<span class=\"_ _0\"></span>elled or ex<span class=\"_ _0\"></span>pires.<span class=\"_ _3bd\"> </span>Offset<span class=\"_ _0\"></span>ting<span class=\"_ _2\"></span> financial assets and financial li<span class=\"_ _2\"></span>abilities<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities are of<span class=\"_ _0\"></span>fset and t<span class=\"_ _0\"></span>he net amo<span class=\"_ _0\"></span>unt repor<span class=\"_ _0\"></span>ted in the st<span class=\"_ _0\"></span>atement of fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition only whe<span class=\"_ _0\"></span>n there is a le<span class=\"_ _0\"></span>gally enforce<span class=\"_ _0\"></span>able right to of<span class=\"_ _0\"></span>fset the re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed amount<span class=\"_ _0\"></span>s and the<span class=\"_ _0\"></span>re is an intention to set<span class=\"_ _0\"></span>tle on a net b<span class=\"_ _0\"></span>asis, o<span class=\"_ _0\"></span>r to realise the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d settl<span class=\"_ _0\"></span>e the liabilit<span class=\"_ _0\"></span>y simult<span class=\"_ _0\"></span>aneou<span class=\"_ _0\"></span>sly<span class=\"_ _2\"></span>. Wh<span class=\"_ _0\"></span>en financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies are off<span class=\"_ _0\"></span>set any related inte<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense is of<span class=\"_ _0\"></span>fset in the in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> Hedge accoun<span class=\"_ _2\"></span>ting<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up design<span class=\"_ _0\"></span>ates cer<span class=\"_ _0\"></span>tain deriv<span class=\"_ _0\"></span>atives as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to effe<span class=\"_ _0\"></span>ct cas<span class=\"_ _0\"></span>h flow hedg<span class=\"_ _0\"></span>es. At the in<span class=\"_ _0\"></span>ception of the h<span class=\"_ _0\"></span>edge rel<span class=\"_ _0\"></span>ationship, the Gro<span class=\"_ _0\"></span>up docume<span class=\"_ _0\"></span>nts the rela<span class=\"_ _0\"></span>tionship bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing instr<span class=\"_ _0\"></span>ument and the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item, alo<span class=\"_ _0\"></span>ng with its ri<span class=\"_ _0\"></span>sk manag<span class=\"_ _0\"></span>ement ob<span class=\"_ _0\"></span>jecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s and its str<span class=\"_ _0\"></span>ategy for und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>aking variou<span class=\"_ _0\"></span>s hedge tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>therm<span class=\"_ _0\"></span>ore, at the inc<span class=\"_ _0\"></span>eption of the he<span class=\"_ _0\"></span>dge and o<span class=\"_ _0\"></span>n an ongoin<span class=\"_ _0\"></span>g basis<span class=\"_ _0\"></span>, the Group do<span class=\"_ _0\"></span>cuments wheth<span class=\"_ _0\"></span>er the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument is hig<span class=\"_ _0\"></span>hly effe<span class=\"_ _0\"></span>ctive in off<span class=\"_ _0\"></span>settin<span class=\"_ _0\"></span>g chang<span class=\"_ _0\"></span>es in fair value<span class=\"_ _0\"></span>s or cash flo<span class=\"_ _0\"></span>ws of the hedg<span class=\"_ _0\"></span>ed item at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the hed<span class=\"_ _0\"></span>ged risk<span class=\"_ _0\"></span>. Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in profit or loss<span class=\"_ _0\"></span>, and is in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income. Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item. He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d if: the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s hed<span class=\"_ _0\"></span>ging obj<span class=\"_ _0\"></span>ective ha<span class=\"_ _0\"></span>s chang<span class=\"_ _0\"></span>ed (can resul<span class=\"_ _0\"></span>t in a partia<span class=\"_ _0\"></span>l discontinu<span class=\"_ _0\"></span>ance); the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item or hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument no lo<span class=\"_ _0\"></span>nger exi<span class=\"_ _0\"></span>sts or is s<span class=\"_ _0\"></span>old; there is n<span class=\"_ _0\"></span>o longer an e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic relations<span class=\"_ _0\"></span>hip betwe<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged ite<span class=\"_ _0\"></span>m and the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>; or the ef<span class=\"_ _0\"></span>fect of cre<span class=\"_ _0\"></span>dit risk st<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>s to dominate the va<span class=\"_ _0\"></span>lue chang<span class=\"_ _0\"></span>es that res<span class=\"_ _0\"></span>ult from the ec<span class=\"_ _0\"></span>onomic rel<span class=\"_ _0\"></span>ationship. Any g<span class=\"_ _0\"></span>ain or loss re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y at that tim<span class=\"_ _0\"></span>e is recycle<span class=\"_ _0\"></span>d to profit or loss ove<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d the hedg<span class=\"_ _0\"></span>ed item imp<span class=\"_ _0\"></span>acts p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>E2. Fair v<span class=\"_ _2\"></span>alue hierarchy<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.1 Determ<span class=\"_ _0\"></span>inati<span class=\"_ _0\"></span>on of fair va<span class=\"_ _0\"></span>lue and f<span class=\"_ _0\"></span>air valu<span class=\"_ _0\"></span>e hiera<span class=\"_ _0\"></span>rchy of fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l inst<span class=\"_ _0\"></span>rument<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Level 1<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents tra<span class=\"_ _0\"></span>ded in ac<span class=\"_ _0\"></span>tive markets (such as e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>hange tr<span class=\"_ _0\"></span>aded se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s and derivative<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) is b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n quoted market price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end provid<span class=\"_ _0\"></span>ed by reco<span class=\"_ _0\"></span>gnised p<span class=\"_ _0\"></span>ricing ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. Market depth a<span class=\"_ _0\"></span>nd bid-as<span class=\"_ _0\"></span>k spreads a<span class=\"_ _0\"></span>re used to cor<span class=\"_ _0\"></span>roborate whe<span class=\"_ _0\"></span>ther an ac<span class=\"_ _0\"></span>tive market exis<span class=\"_ _0\"></span>ts for an ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. Greater dept<span class=\"_ _0\"></span>h and narrower b<span class=\"_ _0\"></span>id-ask spre<span class=\"_ _0\"></span>ad indic<span class=\"_ _0\"></span>ate higher liqui<span class=\"_ _0\"></span>dity in th<span class=\"_ _0\"></span>e instrum<span class=\"_ _0\"></span>ent and are cla<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 1 input<span class=\"_ _0\"></span>s. For coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes an<span class=\"_ _0\"></span>d reinsurer<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 s<span class=\"_ _0\"></span>hare of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>, fair value is by refe<span class=\"_ _0\"></span>rence to publi<span class=\"_ _0\"></span>shed bid pr<span class=\"_ _0\"></span>ices.<span class=\"_ _3bd\"> </span>Level 2<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s traded in a<span class=\"_ _0\"></span>ctive markets wi<span class=\"_ _0\"></span>th less de<span class=\"_ _0\"></span>pth, or wide<span class=\"_ _0\"></span>r bid-ask sp<span class=\"_ _0\"></span>reads<span class=\"_ _0\"></span>, which do not m<span class=\"_ _0\"></span>eet the cla<span class=\"_ _0\"></span>ssific<span class=\"_ _0\"></span>ation as Level 1 input<span class=\"_ _0\"></span>s, are<span class=\"_ gs47\"> </span>cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 2. The fair val<span class=\"_ _0\"></span>ues of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents not tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets are dete<span class=\"_ _0\"></span>rmined usin<span class=\"_ _0\"></span>g broker quotes or valu<span class=\"_ _0\"></span>ation tech<span class=\"_ _0\"></span>niques with ob<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>vable market input<span class=\"_ _0\"></span>s. Fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s valued us<span class=\"_ _0\"></span>ing broker quotes are cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as Level 2, only wh<span class=\"_ _0\"></span>ere there is a suf<span class=\"_ _0\"></span>ficient ran<span class=\"_ _0\"></span>ge of available qu<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s. The fa<span class=\"_ _0\"></span>ir value of over-the-<span class=\"_ _0\"></span>counter deri<span class=\"_ _0\"></span>vatives is es<span class=\"_ _0\"></span>timated usin<span class=\"_ _0\"></span>g pricing mo<span class=\"_ _0\"></span>dels or disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flow tech<span class=\"_ _0\"></span>niques<span class=\"_ _0\"></span>. Collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es where the un<span class=\"_ _0\"></span>derlying a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are not price<span class=\"_ _0\"></span>d using ac<span class=\"_ _0\"></span>tive market prices a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d to be Level 2 ins<span class=\"_ _0\"></span>truments a<span class=\"_ _0\"></span>nd will includ<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s which have a mate<span class=\"_ _0\"></span>rial underl<span class=\"_ _0\"></span>ying holding<span class=\"_ _0\"></span>s within real e<span class=\"_ _0\"></span>state/<span class=\"_ _2\"></span>pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty. Where pric<span class=\"_ _0\"></span>ing mod<span class=\"_ _0\"></span>els are use<span class=\"_ _0\"></span>d, input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on market related d<span class=\"_ _0\"></span>ata at the pe<span class=\"_ _0\"></span>riod end. W<span class=\"_ _0\"></span>here disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flows are<span class=\"_ gs47\"> </span>use<span class=\"_ _0\"></span>d, es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s are bas<span class=\"_ _0\"></span>ed on man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent\u2019s bes<span class=\"_ _0\"></span>t estimate<span class=\"_ _0\"></span>s and the disc<span class=\"_ _0\"></span>ount rate use<span class=\"_ _0\"></span>d is a market relate<span class=\"_ _0\"></span>d rate for<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es reflec<span class=\"_ _0\"></span>ts the fair va<span class=\"_ _0\"></span>lue of the underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities in the fun<span class=\"_ _0\"></span>ds plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exce<span class=\"_ _0\"></span>ss of future p<span class=\"_ _0\"></span>olicy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charge<span class=\"_ _0\"></span>s. The liab<span class=\"_ _0\"></span>ilities are con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>ntly determine<span class=\"_ _0\"></span>d to be Level 2 inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Level 3<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y va<span class=\"_ _0\"></span>luation tec<span class=\"_ _0\"></span>hniques usin<span class=\"_ _0\"></span>g non-ob<span class=\"_ _0\"></span>serv<span class=\"_ _0\"></span>able market input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on a combin<span class=\"_ _0\"></span>ation of<span class=\"_ gs47\"> </span>indep<span class=\"_ _0\"></span>endent third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce and intern<span class=\"_ _0\"></span>ally develope<span class=\"_ _0\"></span>d mode<span class=\"_ _0\"></span>ls. In rela<span class=\"_ _0\"></span>tion to investme<span class=\"_ _0\"></span>nts in hed<span class=\"_ _0\"></span>ge funds an<span class=\"_ _0\"></span>d private equit<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, non-<span class=\"_ _0\"></span>obser<span class=\"_ _0\"></span>vable third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce in the form of net as<span class=\"_ _0\"></span>set valua<span class=\"_ _0\"></span>tion state<span class=\"_ _0\"></span>ments is us<span class=\"_ _0\"></span>ed as the b<span class=\"_ _0\"></span>asis for the valu<span class=\"_ _0\"></span>ation. Adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts may be ma<span class=\"_ _0\"></span>de to the net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>uation where oth<span class=\"_ _0\"></span>er eviden<span class=\"_ _0\"></span>ce, for exampl<span class=\"_ _0\"></span>e recent s<span class=\"_ _0\"></span>ales of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments in the<span class=\"_ gs47\"> </span>f<span class=\"_ _0\"></span>und, indic<span class=\"_ _0\"></span>ates this is re<span class=\"_ _0\"></span>quired. Se<span class=\"_ _0\"></span>curities th<span class=\"_ _0\"></span>at are valued u<span class=\"_ _0\"></span>sing broker quotes whic<span class=\"_ _0\"></span>h could not b<span class=\"_ _0\"></span>e corrobor<span class=\"_ _0\"></span>ated acros<span class=\"_ _0\"></span>s a suf<span class=\"_ _0\"></span>ficient rang<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>of quotes are con<span class=\"_ _0\"></span>sidered a<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>eve<span class=\"_ _0\"></span>l 3. For<span class=\"_ gs47\"> </span>a small n<span class=\"_ _0\"></span>umber of invest<span class=\"_ _0\"></span>ment vehicle<span class=\"_ _0\"></span>s and debt se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, st<span class=\"_ _0\"></span>andard valu<span class=\"_ _0\"></span>ation mode<span class=\"_ _0\"></span>ls are used<span class=\"_ _0\"></span>, as due to their n<span class=\"_ _0\"></span>ature and co<span class=\"_ _0\"></span>mplexit<span class=\"_ _0\"></span>y they have no ex<span class=\"_ _0\"></span>ternal m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>. Input<span class=\"_ _0\"></span>s into such mod<span class=\"_ _0\"></span>els are bas<span class=\"_ _0\"></span>ed on obse<span class=\"_ _0\"></span>rvabl<span class=\"_ _0\"></span>e market data where p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f lo<span class=\"_ _0\"></span>ans, d<span class=\"_ _0\"></span>erivatives an<span class=\"_ _0\"></span>d som<span class=\"_ _0\"></span>e borrowing<span class=\"_ _0\"></span>s with no ex<span class=\"_ _0\"></span>ternal market is dete<span class=\"_ _0\"></span>rmined by intern<span class=\"_ _0\"></span>ally develop<span class=\"_ _0\"></span>ed disco<span class=\"_ _0\"></span>unted cas<span class=\"_ _0\"></span>h flow model<span class=\"_ _0\"></span>s using approp<span class=\"_ _0\"></span>riate assum<span class=\"_ _0\"></span>ptions corro<span class=\"_ _0\"></span>borated wi<span class=\"_ _0\"></span>th extern<span class=\"_ _0\"></span>al market data whe<span class=\"_ _0\"></span>re possib<span class=\"_ _0\"></span>le.<span class=\"_ _3bd\"> </span>For finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments th<span class=\"_ _0\"></span>at are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t fair value on a re<span class=\"_ _0\"></span>curring bas<span class=\"_ _0\"></span>is, the G<span class=\"_ _0\"></span>roup determine<span class=\"_ _0\"></span>s whether t<span class=\"_ _0\"></span>ransfer<span class=\"_ _0\"></span>s have occurre<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween levels in th<span class=\"_ _0\"></span>e hierarchy by rea<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing cate<span class=\"_ _0\"></span>gorisa<span class=\"_ _0\"></span>tion (base<span class=\"_ _0\"></span>d on the lowes<span class=\"_ _0\"></span>t level input th<span class=\"_ _0\"></span>at is signific<span class=\"_ _0\"></span>ant to the fair valu<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment as a who<span class=\"_ _0\"></span>le<span class=\"_ _2\"></span>) during e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>eriod.<span class=\"_ _3bd\"> </span>Fair value hi<span class=\"_ _0\"></span>erarchy informatio<span class=\"_ _0\"></span>n for non-fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value is incl<span class=\"_ _0\"></span>uded in note G3 for own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y and in note G<span class=\"_ _0\"></span>4 for investm<span class=\"_ _0\"></span>ent prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. E2<span class=\"_ _0\"></span>.2 Fai<span class=\"_ _0\"></span>r value hie<span class=\"_ _0\"></span>rarc<span class=\"_ _0\"></span>hy of finan<span class=\"_ _0\"></span>cial in<span class=\"_ _0\"></span>strum<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>ables be<span class=\"_ _0\"></span>low separa<span class=\"_ _0\"></span>tely identif<span class=\"_ _0\"></span>y financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments c<span class=\"_ _0\"></span>arried at fair va<span class=\"_ _0\"></span>lue from thos<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>d on anothe<span class=\"_ _0\"></span>r basis but for w<span class=\"_ _0\"></span>hich fair value<span class=\"_ gs47\"> </span>is d<span class=\"_ _0\"></span>isclose<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w418 h234\" id=\"_fc2ac4d2-43a2-468d-8dbd-a69af0e85559\"><tr><td></td><td class=\"t m0 x59b h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x83c h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x83d h29 y5c3e ff3 fs5 fc3 sc0 ls65 wsc0\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x57d h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c40 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c41 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets at F<span class=\"_ _0\"></span>VTPL (ma<span class=\"_ _0\"></span>ndator<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c42 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83e y5c42 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83f y5c42 w39f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x840 y5c42 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x841 y5c42 wca h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c43 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x842 y5c43 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x843 y5c43 w419 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x844 y5c43 w41a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x845 y5c43 w41b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c44 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x846 y5c44 w41c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">9<span class=\"_ _0\"></span>3,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x847 y5c44 wd7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x848 y5c44 w41d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">2,<span class=\"_ _0\"></span>576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x849 y5c44 w5e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">9<span class=\"_ _0\"></span>6,365<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c45 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84a y5c45 w86 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">49<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>624<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84b y5c45 w1eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>531<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84c y5c45 w41e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84d y5c45 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">89,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c46 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84e y5c46 w55 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">79<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84f y5c46 w41f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3,29<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x850 y5c46 w266 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x851 y5c46 w3d7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c47 wf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x852 y5c47 w420 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x853 y5c47 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x854 y5c47 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x855 y5c47 w2f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 w421 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x856 y5c48 w3ac h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">232<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x857 y5c48 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">3<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>474<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x23f y5c48 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x858 y5c48 w423 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">281<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>512<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c13 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85a y5afa w425 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85b y5afa w2e3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(1<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85c y5afa w426 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(555<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85d y5afa w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>985)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 w427 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value, exclu<span class=\"_ _0\"></span>ding amount<span class=\"_ _0\"></span>s class<span class=\"_ _0\"></span>ified as he<span class=\"_ _0\"></span>ld for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85e y5c49 w428 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>381<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85f y5c49 w429 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">3<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x860 y5c49 w42a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">17,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x861 y5c49 w42b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>527<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c4a ff3 fs6 fc3 sc0 ls1 ws1\">Fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at am<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>sed co<span class=\"_ _0\"></span>st for whic<span class=\"_ _0\"></span>h fair value<span class=\"_ _0\"></span>s are disc<span class=\"_ _0\"></span>losed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c4b wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x862 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x863 y5c4b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x864 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x865 y5c4b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x866 y5a16 w42c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>38<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x867 y5a16 w42d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">30<span class=\"_ _0\"></span>,339<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x868 y5a16 w42e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x869 y5a16 wf5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">279,539<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Amo<span class=\"_ _0\"></span>unts cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a314 m<span class=\"_ _0\"></span>illion of e<span class=\"_ _0\"></span>quiti<span class=\"_ _0\"></span>es (Lev<span class=\"_ _0\"></span>el 1), \u00a33<span class=\"_ _0\"></span>2 millio<span class=\"_ _0\"></span>n of reins<span class=\"_ _0\"></span>urer<span class=\"_ _0\"></span>s\u2019 share o<span class=\"_ _0\"></span>f invest<span class=\"_ _0\"></span>ment c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>ct lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es (Leve<span class=\"_ _0\"></span>l 1), \u00a39<span class=\"_ _0\"></span>60 m<span class=\"_ _0\"></span>illion of c<span class=\"_ _0\"></span>olle<span class=\"_ _0\"></span>ctive i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>es (\u00a3<span class=\"_ _0\"></span>956 m<span class=\"_ _0\"></span>illion L<span class=\"_ _0\"></span>evel 1 an<span class=\"_ _0\"></span>d \u00a3<span class=\"_ _2\"></span>4 m<span class=\"_ _0\"></span>illion Le<span class=\"_ _0\"></span>vel 2) an<span class=\"_ _0\"></span>d \u00a3979 mi<span class=\"_ _0\"></span>llion of de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es (\u00a3<span class=\"_ _0\"></span>281 mil<span class=\"_ _0\"></span>lion Leve<span class=\"_ _0\"></span>l 1; \u00a314<span class=\"_ _0\"></span>3 milli<span class=\"_ _0\"></span>on Level 2<span class=\"_ _0\"></span>; and \u00a35<span class=\"_ _0\"></span>55 mill<span class=\"_ _0\"></span>ion Leve<span class=\"_ _0\"></span>l 3)<span class=\"_ _3bd\"> <span class=\"_ _3bd\"> <span class=\"_ _3bd\"> </span></span></span><div class=\"gs79\"><table class=\"s w42f h235\" id=\"_9d8be71c-9025-4f6e-b115-8f4488a02b6f\"><tr><td></td><td class=\"t m0 x495 h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86a h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86c h29 y5c4c ff3 fs5 fc3 sc0 ls65 wsc0\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5c4d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5c4e ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5c4f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL (mandato<span class=\"_ _0\"></span>ry)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c50 we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86d y5c50 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86e y5c50 w16b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">3,882<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86f y5c50 w179 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x870 y5c50 w355 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5c51 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial<span class=\"_ gs47\"> </span>reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c52 w142 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x871 y5c52 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x872 y5c52 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x873 y5c52 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x874 y5c52 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c53 w430 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x875 y5c53 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x876 y5c53 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x877 y5c53 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x878 y5c53 w431 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,<span class=\"_ _0\"></span>486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c54 w432 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x879 y5c54 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87a y5c54 w3e6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87b y5c54 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87c y5c54 w433 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x87d y5c55 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87e y5c55 w434 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>92<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87f y5c55 w267 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x880 y5c55 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">176<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c56 w435 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x881 y5c56 w436 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">2<span class=\"_ _0\"></span>,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x882 y5c56 w437 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x883 y5c56 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">164<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x884 y5c56 w438 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">180,52<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c57 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x885 y5c57 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x886 y5c57 w43a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x887 y5c57 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x888 y5c57 w3ec h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c58 w43b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e, excluding am<span class=\"_ _0\"></span>ounts cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x889 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88a y5a27 w16b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88b y5a27 w43c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">174<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88c y5a27 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88d y5a27 w162 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5c59 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at amortised cost for which fai<span class=\"_ _2\"></span>r values are disclosed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c5a w142 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88e y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88f y5c5a w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,<span class=\"_ _0\"></span>599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x890 y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x891 y5c5a w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,59<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c5b w149 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x892 y5c5b we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x893 y5c5b w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x894 y5c5b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x895 y5c5b w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a8f w43d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost for wh<span class=\"_ _0\"></span>ich fair value<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x896 y5a8f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x897 y5a8f w144 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,4<span class=\"_ _0\"></span>48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x898 y5a8f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d2 y5a8f w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,<span class=\"_ _0\"></span>448<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x88a y5a16 w16b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x899 y5a16 w434 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x89a y5a16 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x89b y5a16 wa3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs384\">1 <span class=\"_ _9\"> </span>Amo<span class=\"_ _0\"></span>unts cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a33<span class=\"_ _0\"></span>,175 mill<span class=\"_ _0\"></span>ion of inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nt cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabil<span class=\"_ _0\"></span>ities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs385\"><table class=\"s w43e h236\" id=\"_28733018-a838-4c80-9471-398bfeb0df1c\"><tr><td></td><td class=\"t m0 x89c ha y5c5c ff2 fs5 fc3 sc0 ls14a ws138\">Level 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x89d ha y5c5c ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td class=\"c x89f y5c5d w43f h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x89e h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x8a1 y5c5d w440 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x8a0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x737 ha y5c5e ff2 fs5 fc3 sc0 ls14a ws138\">Level 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x8a2 ha y5c5e ff2 fs5 fc3 sc0 ls11 ws11\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5c5f ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c60 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c61 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets at F<span class=\"_ _0\"></span>VTPL (ma<span class=\"_ _0\"></span>ndator<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a66 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83e y5a66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a3 y5a66 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a4 y5a66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a5 y5a66 w441 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">231<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c62 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x842 y5c62 w103 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">139<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a6 y5c62 w442 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">2<span class=\"_ _0\"></span>,398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a7 y5c62 w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a8 y5c62 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c63 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x846 y5c63 we6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">85,0<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a9 y5c63 wd2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">132<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8aa y5c63 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ab y5c63 we7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _1\"></span>7,<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bf2 we8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment in ass<span class=\"_ _0\"></span>ociate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ac y5bf2 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ad y5bf2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ae y5bf2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x566 y5bf2 w12b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">3<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5bf3 w443 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 x8af h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b0 y5bf3 w444 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b1 y5bf3 w445 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b2 y5bf3 w446 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">13<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b3 y5bf3 w2e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _1\"></span>4,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c64 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84e y5c64 w447 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">76<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b4 y5c64 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,1<span class=\"_ _0\"></span>93<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b5 y5c64 w334 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">4<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b6 y5c64 w3f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">79<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c65 wf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b7 y5c65 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b8 y5c65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b9 y5c65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ba y5c65 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w448 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bb y5bd8 w449 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">223,<span class=\"_ _0\"></span>558<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bc y5bd8 w44a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34,923<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bd y5bd8 w44b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>,94<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8be y5bd8 w44c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">275<span class=\"_ _0\"></span>,427<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5bd9 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85a y5bd9 w328 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,639)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bf y5bd9 w44d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(1<span class=\"_ _0\"></span>81)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c0 y5bd9 w30e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(678)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c1 y5bd9 w3fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>2,498)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w427 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value, exclu<span class=\"_ _0\"></span>ding amount<span class=\"_ _0\"></span>s class<span class=\"_ _0\"></span>ified as he<span class=\"_ _0\"></span>ld for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85e y5c66 w44e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c2 y5c66 w44f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c3 y5c66 w450 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">16<span class=\"_ _0\"></span>,268<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c4 y5c66 w451 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c67 ff3 fs6 fc3 sc0 ls1 ws1\">Fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at am<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>sed co<span class=\"_ _0\"></span>st for whic<span class=\"_ _0\"></span>h fair value<span class=\"_ _0\"></span>s are disc<span class=\"_ _0\"></span>losed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b25 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x862 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c5 y5b25 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c6 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c7 y5b25 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8c8 y5a16 w44e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">221<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>91<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c9 y5a16 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ca y5a16 w2e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">16<span class=\"_ _0\"></span>,26<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cb y5a16 wf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs386\">1  <span class=\"_ _1a\"> </span>L<span class=\"_ _0\"></span>evel 1 an<span class=\"_ _0\"></span>d Level 2 de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es have b<span class=\"_ _0\"></span>een re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d to cor<span class=\"_ _0\"></span>rect<span class=\"_ _0\"></span>ly refle<span class=\"_ _0\"></span>ct \u00a36<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>69 mil<span class=\"_ _0\"></span>lion of de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es with<span class=\"_ _0\"></span>in Level 1 in<span class=\"_ _0\"></span>stea<span class=\"_ _0\"></span>d of Level 2 a<span class=\"_ _0\"></span>s previ<span class=\"_ _0\"></span>ousl<span class=\"_ _0\"></span>y repor<span class=\"_ _0\"></span>ted<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs387\">2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>udes \u00a3<span class=\"_ _0\"></span>28 milli<span class=\"_ _0\"></span>on of equ<span class=\"_ _0\"></span>ities (<span class=\"_ _0\"></span>Level 1)<span class=\"_ _0\"></span>, \u00a33 milli<span class=\"_ _0\"></span>on of der<span class=\"_ _0\"></span>ivativ<span class=\"_ _0\"></span>es (Leve<span class=\"_ _0\"></span>l 2), \u00a32<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n of reins<span class=\"_ _0\"></span>urers<span class=\"_ _0\"></span>\u2019 share of i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>ct liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s (Leve<span class=\"_ _0\"></span>l 1), \u00a31<span class=\"_ _0\"></span>,028 m<span class=\"_ _0\"></span>illion </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs388\">of<span class=\"_ gs1f7\"> </span>co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nt sch<span class=\"_ _0\"></span>emes (<span class=\"_ _0\"></span>\u00a39<span class=\"_ _0\"></span>96 mi<span class=\"_ _0\"></span>llion Lev<span class=\"_ _0\"></span>el 1; \u00a32<span class=\"_ _0\"></span>8 milli<span class=\"_ _0\"></span>on Level 2<span class=\"_ _0\"></span>; and \u00a34 milli<span class=\"_ _0\"></span>on Level 3<span class=\"_ _0\"></span>) and \u00a3<span class=\"_ _0\"></span>1,41<span class=\"_ _0\"></span>1 millio<span class=\"_ _0\"></span>n of debt s<span class=\"_ _0\"></span>ecur<span class=\"_ _0\"></span>ities (<span class=\"_ _0\"></span>\u00a3587 m<span class=\"_ _0\"></span>illion Le<span class=\"_ _0\"></span>vel 1; \u00a3<span class=\"_ _0\"></span>150 mi<span class=\"_ _0\"></span>llion Lev<span class=\"_ _0\"></span>el 2; an<span class=\"_ _0\"></span>d \u00a3674 millio<span class=\"_ _0\"></span>n Level 3<span class=\"_ _0\"></span>).<span class=\"_ _3bd\"> </span></div><div class=\"gs389\"><table class=\"s w452 h237\" id=\"_fd1ba1e1-d03b-4bf0-af07-208b6aea1322\"><tr><td></td><td></td><td class=\"t m0 x89d ha y5c68 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x8a2 ha y5c68 ff2 fs5 fc3 sc0 ls11 ws11\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x89c ha y5c69 ff2 fs5 fc3 sc0 ls14a ws138\">Level 1<span class=\"_ _3bd\"> </span></td><td class=\"c x8a1 y5c6a w440 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x8a0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x737 ha y5c69 ff2 fs5 fc3 sc0 ls14a ws138\">Level 3<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5c6a w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a ha y5c6b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c6c ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c6d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s FV<span class=\"_ _0\"></span>TPL (mandator<span class=\"_ _0\"></span>y)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c6e we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cc y5c6e w47 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">152<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cd y5c6e w453 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,9<span class=\"_ _0\"></span>86<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ce y5c6e w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cf y5c6e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>344<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c6f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial<span class=\"_ gs47\"> </span>reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c70 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d0 y5c70 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d1 y5c70 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d2 y5c70 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d3 y5c70 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c71 w430 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d4 y5c71 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d5 y5c71 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d6 y5c71 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d7 y5c71 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c72 w454 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es (restate<span class=\"_ _0\"></span>d)</div><div class=\"t m0 x8d8 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x43d y5b54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d9 y5b54 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8da y5b54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2da y5b54 w455 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8db y5bf3 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8dc y5bf3 w455 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8dd y5bf3 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8de y5bf3 w456 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">16<span class=\"_ _0\"></span>5,4<span class=\"_ _0\"></span>61<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf4 w435 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8df y5bf4 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,07<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e0 y5bf4 w457 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">165,48<span class=\"_ _2\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e1 y5bf4 w458 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e2 y5bf4 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">168,<span class=\"_ _0\"></span>805<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c73 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x43d y5c73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e3 y5c73 w459 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d0 y5c73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e4 y5c73 w459 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c74 w45a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e, excluding am<span class=\"_ _0\"></span>ounts cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e5 y5c74 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>073<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e6 y5c74 w45b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">1<span class=\"_ _2\"></span>6<span class=\"_ _0\"></span>0,699<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e7 y5c74 w45c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e8 y5c74 w45d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>64,<span class=\"_ _0\"></span>023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c75 ff3 fs6 fc3 sc0 ls37 ws1\">Fina<span class=\"_ _0\"></span>ncial li<span class=\"_ _0\"></span>abilities m<span class=\"_ _0\"></span>easur<span class=\"_ _0\"></span>ed at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cost fo<span class=\"_ _0\"></span>r which fair va<span class=\"_ _0\"></span>lues are di<span class=\"_ _0\"></span>sclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a45 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d0 y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e9 y5a45 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ea y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8eb y5a45 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,73<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a46 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ec y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ed y5a46 w45e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ee y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ef y5a46 w45f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w43d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost for wh<span class=\"_ _0\"></span>ich fair value<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f0 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f1 y5a47 w460 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">4<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f2 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f3 y5a47 w461 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">4<span class=\"_ _0\"></span>,74<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8db y5a16 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,07<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f4 y5a16 w462 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">165,443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f5 y5a16 w45c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f6 y5a16 w463 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs38a\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs38b\">2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>udes \u00a34<span class=\"_ _0\"></span>,780 mi<span class=\"_ _0\"></span>llion of in<span class=\"_ _0\"></span>vestm<span class=\"_ _0\"></span>ent co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>t liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s and \u00a32 m<span class=\"_ _0\"></span>illion o<span class=\"_ _0\"></span>f deriv<span class=\"_ _0\"></span>atives<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs38d\">E2<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>ignifi<span class=\"_ _0\"></span>cant in<span class=\"_ _0\"></span>puts an<span class=\"_ _0\"></span>d input va<span class=\"_ _0\"></span>lues for L<span class=\"_ _0\"></span>evel 3 finan<span class=\"_ _0\"></span>cial in<span class=\"_ _0\"></span>stru<span class=\"_ _0\"></span>ments<span class=\"_ _3bd\"> </span></div><div class=\"gs38e\"><table class=\"s w464 h238\" id=\"_7465f847-a60c-4d6f-9d7c-39751859ec23\"><tr><td></td><td></td><td></td><td class=\"t m0 x2f6 ha y5c76 ff2 fs5 fc3 sc0 ls11 ws11\">Key<span class=\"_ _2\"></span> unobse<span class=\"_ _0\"></span>rvable input<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c77 w21e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Desc<span class=\"_ _0\"></span>ription<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f7 y5c77 w465 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">V<span class=\"_ _2\"></span>aluation technique<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f8 y5c77 w466 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">Significant inputs<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x8f9 y5c77 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fa y5c77 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c78 w469 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fb y5c78 w46a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fc y5c78 w46b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Net a<span class=\"_ _0\"></span>sset s<span class=\"_ _0\"></span>tatement<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x8fd y5c78 w46c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">\u00a32,<span class=\"_ _0\"></span>576m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fe y5c78 w46d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">\u00a3<span class=\"_ _0\"></span>2,495m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5c79 ff3 fs6 fc3 sc0 ls1 ws1\">Deb<span class=\"_ _0\"></span>t secur<span class=\"_ _0\"></span>ities (see E2<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 fo<span class=\"_ _0\"></span>r furth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5c7a ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit  </td><td class=\"c x900 y5c7b w46e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x8ff h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c7b w46f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x902 y5c7b w470 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">79<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x2f8 hc y5c7c ff2 fs6 fc3 sc0 ls74 ws1e5\">78b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5c7d ff2 fs6 fc3 sc0 ls11 ws11\">agencies &amp;<span class=\"_ _2\"></span> supranati<span class=\"_ _2\"></span>onals<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x903 h23 y5c7e ff3 fs6 fc3 sc0 ls37 ws1\">(weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c7e ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c7f w471 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Private corporate credit<span class=\"_ _3bd\"> </span></div></td><td class=\"c x905 y5c7f w472 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DCF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x904 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c7f w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c7f w473 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">134b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c80 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">145b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c81 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c81 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c82 w2b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90a y5c82 w474 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x909 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c83 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c83 w475 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">146<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c84 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>0b<span class=\"_ _0\"></span>ps</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c85 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c85 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c86 w476 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90c y5c86 w477 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F mode<span class=\"_ _0\"></span>l</div><div class=\"t m0 x90b h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c86 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c86 w475 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">140<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c87 ff2 fs6 fc3 sc0 ls8e ws87\">139<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c88 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c88 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c89 w478 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90e y5c89 w479 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mode<span class=\"_ _0\"></span>l</div><div class=\"t m0 x90d h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c89 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c89 w47a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">118<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c8a ff2 fs6 fc3 sc0 ls6c ws1ca\">130b<span class=\"_ _0\"></span>ps</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c8b ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c8b ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c8c w47b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Mor<span class=\"_ _0\"></span>tgage l<span class=\"_ _0\"></span>oans (\u2018<span class=\"_ _0\"></span>ERM<span class=\"_ _0\"></span>\u2019)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x90f y5c8c w47c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mode<span class=\"_ _0\"></span>l and<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x910 y5c8c w47d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Spread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x911 y5c8c w47e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">15<span class=\"_ _2\"></span>9<span class=\"_ _0\"></span>bps over Son<span class=\"_ _0\"></span>ia plus</div></td><td class=\"t m0 x912 hc y5c8d ff2 fs6 fc3 sc0 ls17f ws1\">2<span class=\"_ _2\"></span>56bps over S<span class=\"_ _0\"></span>onia plus </td></tr><tr><td></td><td class=\"t m0 x2dc hc y5c8e ff2 fs6 fc3 sc0 ls1 ws1\">Black-<span class=\"_ _2\"></span>S<span class=\"_ _0\"></span>choles </td><td></td><td></td><td class=\"t m0 x913 h23 y5c8f ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x914 hc y5c8f ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x915 y5c90 w47f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">model</div><div class=\"t m0 x8a0 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x48f hc y5c91 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ice </td><td></td><td class=\"t m0 x916 h23 y5c91 ff3 fs6 fc3 sc0 ls37 ws1\">+<span class=\"_ _3\"></span>75bps ad<span class=\"_ _0\"></span>just<span class=\"_ _0\"></span>ment to </td><td class=\"t m0 x917 hc y5c91 ff2 fs6 fc3 sc0 ls17f ws1\">+<span class=\"_ _3\"></span>75bps adju<span class=\"_ _0\"></span>stment to R<span class=\"_ _0\"></span>PI<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x918 hc y5c92 ff2 fs6 fc3 sc0 ls56 ws53\">inflation<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x919 h23 y5c92 ff3 fs6 fc3 sc0 ls1 ws1\">RPI<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"c n x91a y5c93 w480 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ices<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x91b y5c93 w481 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">\u00a338<span class=\"_ _2\"></span>5,838 (<span class=\"_ _2\"></span>aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x91c y5c93 w482 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5e ws14c\">\u00a337<span class=\"_ _4\"></span>1<span class=\"_ _0\"></span>,3<span class=\"_ _2\"></span>80 (aver<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x91d hc y5c94 ff2 fs6 fc3 sc0 lsc6 ws15a\">res<span class=\"_ _0\"></span>tated<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"c n x91e y5c95 w483 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">Mor<span class=\"_ _0\"></span>tality<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x91f y5c95 w484 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">Avera<span class=\"_ _0\"></span>ge life expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy</div></td><td class=\"t m0 x920 hc y5c96 ff2 fs6 fc3 sc0 ls17f ws1\">Averag<span class=\"_ _0\"></span>e life expec<span class=\"_ _0\"></span>tancy<span class=\"_ _0\"></span> </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x606 h23 y5c97 ff3 fs6 fc3 sc0 ls37 ws1\">of a mal<span class=\"_ _0\"></span>e and fema<span class=\"_ _0\"></span>le </td><td class=\"t m0 x86b hc y5c98 ff2 fs6 fc3 sc0 ls17f ws1\">of a male an<span class=\"_ _0\"></span>d female </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x921 h23 y5c99 ff3 fs6 fc3 sc0 ls37 ws1b\">curr<span class=\"_ _0\"></span>ently ag<span class=\"_ _0\"></span>ed 7<span class=\"_ _2\"></span>5 is 14.<span class=\"_ _2\"></span>2 </td><td class=\"t m0 x3be hc y5c9a ff2 fs6 fc3 sc0 ls17f ws1\">current<span class=\"_ _0\"></span>ly age<span class=\"_ _0\"></span>d 7<span class=\"_ _4\"></span>5 i<span class=\"_ _0\"></span>s 1<span class=\"_ _2\"></span>4.<span class=\"_ _2\"></span>1 </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x606 h23 y5c9b ff3 fs6 fc3 sc0 ls37 ws1\">year<span class=\"_ _0\"></span>s and 15<span class=\"_ _2\"></span>.8 year<span class=\"_ _0\"></span>s </td><td class=\"t m0 x86b hc y5c9c ff2 fs6 fc3 sc0 ls17f ws1\">year<span class=\"_ _0\"></span>s and 15<span class=\"_ _2\"></span>.6 years </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x491 h23 y5c9d ff3 fs6 fc3 sc0 lsd wsd\">respectively<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x922 hc y5c9e ff2 fs6 fc3 sc0 ls56 ws53\">respe<span class=\"_ _0\"></span>ctively<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x923 hc y5c9f ff2 fs6 fc3 sc0 ls17f ws192\">V<span class=\"_ _2\"></span>olunt<span class=\"_ _0\"></span>ary </td><td></td><td class=\"c n x924 y5ca0 w485 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws13\">190bps t<span class=\"_ _2\"></span>o 400bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x925 y5ca0 w486 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">190b<span class=\"_ _0\"></span>ps to 6<span class=\"_ _2\"></span>50<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x2f4 hc y5ca1 ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ca2 w487 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x927 y5ca2 w488 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DCF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x926 h11 y5ca3 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x928 y5ca4 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x929 y5ca4 w489 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">230<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x914 hc y5ca5 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>3b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5ca6 ff3 fs6 fc3 sc0 ls1 ws1\">(weighte<span class=\"_ _0\"></span>d averag<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b1 hc y5ca6 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y5ca7 w48a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips</div><div class=\"t m0 x92a h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92b y5ca7 w48b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Income capit<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span>is<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>ion<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92c y5ca7 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x92d y5ca7 w48c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">6<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92e y5ca7 w48d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">613b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ca8 w48e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Collecti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92f y5ca8 w48f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Net asset value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x930 y5ca8 w490 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">N<span class=\"_ _0\"></span>et ass<span class=\"_ _0\"></span>et statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x931 y5ca8 w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">\u00a3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>87m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x932 y5ca8 w492 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">\u00a34<span class=\"_ _0\"></span>01<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5ca9 ff3 fs6 fc3 sc0 ls10 ws10\">Borro<span class=\"_ _2\"></span>wings<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5caa w493 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y reversion<span class=\"_ _0\"></span>s loans (see n<span class=\"_ _0\"></span>ote E5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x933 y5caa w494 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Internally developed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x934 y5caa w495 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y rate<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x3b1 hc y5cab ff2 fs6 fc3 sc0 lsb5 ws1ca\">130<span class=\"_ _0\"></span>% I<span class=\"_ _0\"></span>FL9<span class=\"_ _0\"></span>2C15 </td><td class=\"c n x935 y5caa w496 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1b\">130% IFL92<span class=\"_ _2\"></span>C1<span class=\"_ _2\"></span>5<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x936 hc y5cac ff2 fs6 fc3 sc0 ls13 ws14\">model<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x938 y5cad w497 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(Fe<span class=\"_ _0\"></span>mal<span class=\"_ _0\"></span>e)</div><div class=\"t m0 x937 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c x93a y5caf w498 h239\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(Fe<span class=\"_ _0\"></span>ma<span class=\"_ _0\"></span>le)</div><div class=\"t m0 x939 h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x2ee hc y5cb0 ff2 fs6 fc3 sc0 lsb5 ws1ca\">130<span class=\"_ _0\"></span>% I<span class=\"_ _0\"></span>ML<span class=\"_ _0\"></span>92C15 </td><td class=\"t m0 x3bc h23 y5cb0 ff3 fs6 fc3 sc0 ls1 ws1b\">130% IML92<span class=\"_ _2\"></span>C1<span class=\"_ _2\"></span>5 </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"c x93c y5cb1 w499 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(M<span class=\"_ _0\"></span>ale)</div><div class=\"t m0 x93b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c x93e y5cb2 w49a h239\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(M<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span>e)</div><div class=\"t m0 x93d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x48f hc y5cb3 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ice </td><td class=\"t m0 x3aa hc y5cb3 ff2 fs6 fc3 sc0 ls17f ws1\">3-year R<span class=\"_ _0\"></span>PI rate plus </td><td class=\"t m0 x903 h23 y5cb3 ff3 fs6 fc3 sc0 ls37 ws1\">3-year R<span class=\"_ _0\"></span>PI rate pl<span class=\"_ _0\"></span>us </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x918 hc y5cb4 ff2 fs6 fc3 sc0 ls56 ws53\">inflation<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 hc y5cb4 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">75b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 h23 y5cb4 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"c n x934 y5cb5 w49b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Dis<span class=\"_ _0\"></span>count rate<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x93f hc y5cb6 ff2 fs6 fc3 sc0 ls17f ws1\">3-year swa<span class=\"_ _0\"></span>p rate plus<span class=\"_ _3bd\"> </span></td><td class=\"c n x940 y5cb5 w49c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">3-year s<span class=\"_ _0\"></span>wap rate pl<span class=\"_ _0\"></span>us</div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x941 hc y5cb7 ff2 fs6 fc3 sc0 ls1bb ws1ec\"> 17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bd h23 y5cb7 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x942 hc y5cb8 ff2 fs6 fc3 sc0 ls17f ws20c\">Deferre<span class=\"_ _0\"></span>d pos<span class=\"_ _0\"></span>sessi<span class=\"_ _0\"></span>on </td><td class=\"c n x943 y5cb9 w49d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">370<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y5cb9 w49e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3a9 hc y5cba ff2 fs6 fc3 sc0 lsc6 ws15a\">rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c h23 y5cbb ff3 fs6 fc3 sc0 ls1a ws1b\">Derivative ass<span class=\"_ _0\"></span>ets and liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5cbc ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward private pla<span class=\"_ _0\"></span>cement<span class=\"_ _0\"></span>s, infra<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>ture </td><td class=\"c x946 y5c39 w49f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x945 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c39 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5cbd ff2 fs6 fc3 sc0 ls15c ws1ee\">111b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></td><td class=\"c n x902 y5c39 w4a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">98b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c x28d y5cbf w4a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>lo<span class=\"_ _0\"></span>cal auth<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y loans</div><div class=\"t m0 x947 h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"t m0 x3aa hc y5cc0 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x903 h23 y5cc0 ff3 fs6 fc3 sc0 ls37 ws1\">(weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"c x28d y5a15 w4a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swaps</div><div class=\"t m0 x948 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c x946 y5a15 w49f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x945 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x949 y5a15 w4a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Swap c<span class=\"_ _0\"></span>urve<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94a y5a15 w4a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">s<span class=\"_ _0\"></span>wap cur<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94b y5a15 w4a5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws14c\">swa<span class=\"_ _0\"></span>p cur<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c x28d y5a16 w4a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total ret<span class=\"_ _0\"></span>urn swap</div><div class=\"t m0 x94c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c x900 y5a16 w46e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x8ff h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5a16 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94d y5a16 w4a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">500b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94e y5a16 w4a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">500<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws30 gs38f\">1 <span class=\"_ _7\"> </span><span class=\"ws1\">Di<span class=\"_ _0\"></span>scou<span class=\"_ _0\"></span>nted ca<span class=\"_ _0\"></span>sh flow (<span class=\"_ _0\"></span>\u2018D<span class=\"_ _0\"></span>CF\u2019<span class=\"_ _0\"></span>) mode<span class=\"_ _0\"></span>l: Exc<span class=\"_ _0\"></span>ept wh<span class=\"_ _0\"></span>ere oth<span class=\"_ _0\"></span>erw<span class=\"_ _0\"></span>ise st<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, the dis<span class=\"_ _0\"></span>coun<span class=\"_ _0\"></span>t rate us<span class=\"_ _0\"></span>ed is ba<span class=\"_ _0\"></span>sed on a r<span class=\"_ _0\"></span>isk-fre<span class=\"_ _0\"></span>e cur<span class=\"_ _0\"></span>ve and a cr<span class=\"_ _0\"></span>edit sp<span class=\"_ _0\"></span>read<span class=\"_ _0\"></span>. The ri<span class=\"_ _0\"></span>sk-free r<span class=\"_ _0\"></span>ate is ta<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n from an a<span class=\"_ _0\"></span>pprop<span class=\"_ _0\"></span>riate g<span class=\"_ _0\"></span>ilt of </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs390\">com<span class=\"_ _0\"></span>para<span class=\"_ _0\"></span>ble dur<span class=\"_ _0\"></span>ation<span class=\"_ _0\"></span>. The s<span class=\"_ _0\"></span>pread i<span class=\"_ _0\"></span>s deri<span class=\"_ _0\"></span>ved from a b<span class=\"_ _0\"></span>asket of c<span class=\"_ _0\"></span>ompa<span class=\"_ _0\"></span>rable s<span class=\"_ _0\"></span>ecu<span class=\"_ _0\"></span>ritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws30 gs391\">2 <span class=\"_ _145\"> </span><span class=\"ws1\">E<span class=\"_ _0\"></span>RM loa<span class=\"_ _0\"></span>ns: Th<span class=\"_ _0\"></span>e loan<span class=\"_ _0\"></span>s are val<span class=\"_ _0\"></span>ued us<span class=\"_ _0\"></span>ing a DC<span class=\"_ _0\"></span>F mode<span class=\"_ _0\"></span>l and a Bl<span class=\"_ _0\"></span>ack-Sc<span class=\"_ _0\"></span>hole<span class=\"_ _0\"></span>s mode<span class=\"_ _0\"></span>l for val<span class=\"_ _0\"></span>uatio<span class=\"_ _0\"></span>n of the No<span class=\"_ _0\"></span>-Ne<span class=\"_ _0\"></span>gati<span class=\"_ _0\"></span>ve Equit<span class=\"_ _0\"></span>y Gua<span class=\"_ _0\"></span>rante<span class=\"_ _0\"></span>e (\u2018N<span class=\"_ _0\"></span>NEG<span class=\"_ _0\"></span>\u2019). Th<span class=\"_ _0\"></span>e NNEG c<span class=\"_ _0\"></span>aps th<span class=\"_ _0\"></span>e loan re<span class=\"_ _0\"></span>payme<span class=\"_ _0\"></span>nt in the e<span class=\"_ _0\"></span>vent of de<span class=\"_ _0\"></span>ath or </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs392\">ent<span class=\"_ _0\"></span>ry into l<span class=\"_ _0\"></span>ong-<span class=\"_ _0\"></span>term c<span class=\"_ _0\"></span>are to be n<span class=\"_ _0\"></span>o great<span class=\"_ _0\"></span>er than t<span class=\"_ _0\"></span>he sal<span class=\"_ _0\"></span>es pro<span class=\"_ _0\"></span>cee<span class=\"_ _0\"></span>ds from th<span class=\"_ _0\"></span>e prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. The f<span class=\"_ _0\"></span>uture c<span class=\"_ _0\"></span>ash flo<span class=\"_ _0\"></span>ws are es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>ted ba<span class=\"_ _0\"></span>sed on a<span class=\"_ _0\"></span>ssum<span class=\"_ _0\"></span>ed leve<span class=\"_ _0\"></span>ls of mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lity d<span class=\"_ _0\"></span>erive<span class=\"_ _0\"></span>d from pu<span class=\"_ _0\"></span>blish<span class=\"_ _0\"></span>ed mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lity t<span class=\"_ _0\"></span>able<span class=\"_ _0\"></span>s, </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs393\">ent<span class=\"_ _0\"></span>ry into l<span class=\"_ _0\"></span>ong-<span class=\"_ _0\"></span>term c<span class=\"_ _0\"></span>are rate<span class=\"_ _0\"></span>s and vol<span class=\"_ _0\"></span>untar<span class=\"_ _0\"></span>y red<span class=\"_ _0\"></span>empti<span class=\"_ _0\"></span>on rate<span class=\"_ _0\"></span>s. Ca<span class=\"_ _0\"></span>sh flow<span class=\"_ _0\"></span>s inclu<span class=\"_ _0\"></span>de an all<span class=\"_ _0\"></span>owanc<span class=\"_ _0\"></span>e for the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted c<span class=\"_ _0\"></span>ost of pr<span class=\"_ _0\"></span>ovidin<span class=\"_ _0\"></span>g a NNEG a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d under a r<span class=\"_ _0\"></span>eal wor<span class=\"_ _0\"></span>ld app<span class=\"_ _0\"></span>roach u<span class=\"_ _0\"></span>sing a c<span class=\"_ _0\"></span>lose<span class=\"_ _0\"></span>d form </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs394\">mo<span class=\"_ _0\"></span>del inc<span class=\"_ _0\"></span>ludin<span class=\"_ _0\"></span>g an as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d level of p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y value vo<span class=\"_ _0\"></span>latili<span class=\"_ _0\"></span>ty. For t<span class=\"_ _0\"></span>he NNE<span class=\"_ _0\"></span>G asse<span class=\"_ _0\"></span>ssm<span class=\"_ _0\"></span>ent, p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y value<span class=\"_ _0\"></span>s are ind<span class=\"_ _0\"></span>exed fr<span class=\"_ _0\"></span>om the la<span class=\"_ _0\"></span>test p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y valuat<span class=\"_ _0\"></span>ion po<span class=\"_ _0\"></span>int and th<span class=\"_ _0\"></span>en as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d to grow in l<span class=\"_ _0\"></span>ine wit<span class=\"_ _0\"></span>h an RPI </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs395\">ba<span class=\"_ _0\"></span>sed as<span class=\"_ _0\"></span>sump<span class=\"_ _0\"></span>tion. C<span class=\"_ _0\"></span>ash flo<span class=\"_ _0\"></span>ws are di<span class=\"_ _0\"></span>scou<span class=\"_ _0\"></span>nted us<span class=\"_ _0\"></span>ing a ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-f<span class=\"_ _0\"></span>ree cu<span class=\"_ _0\"></span>rve pl<span class=\"_ _0\"></span>us a spre<span class=\"_ _0\"></span>ad, wh<span class=\"_ _0\"></span>ere th<span class=\"_ _0\"></span>e sprea<span class=\"_ _0\"></span>d is bas<span class=\"_ _0\"></span>ed on re<span class=\"_ _0\"></span>cen<span class=\"_ _0\"></span>t origin<span class=\"_ _0\"></span>ation<span class=\"_ _0\"></span>s, wi<span class=\"_ _0\"></span>th marg<span class=\"_ _0\"></span>ins to al<span class=\"_ _0\"></span>low for th<span class=\"_ _0\"></span>e diffe<span class=\"_ _0\"></span>rent ri<span class=\"_ _0\"></span>sk profil<span class=\"_ _0\"></span>es of ER<span class=\"_ _0\"></span>M loans<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws30 gs396\">3 <span class=\"_ _145\"> </span><span class=\"ws1\">I<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e stri<span class=\"_ _0\"></span>ps are tr<span class=\"_ _0\"></span>ansa<span class=\"_ _0\"></span>ctio<span class=\"_ _0\"></span>ns whe<span class=\"_ _0\"></span>re an owne<span class=\"_ _0\"></span>r-oc<span class=\"_ _0\"></span>cupi<span class=\"_ _0\"></span>er of a prop<span class=\"_ _0\"></span>er<span class=\"_ _0\"></span>ty ha<span class=\"_ _0\"></span>s sold a f<span class=\"_ _0\"></span>reeh<span class=\"_ _0\"></span>old or lo<span class=\"_ _0\"></span>ng lea<span class=\"_ _0\"></span>seho<span class=\"_ _0\"></span>ld inte<span class=\"_ _0\"></span>rest to t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up, and h<span class=\"_ _0\"></span>as sign<span class=\"_ _0\"></span>ed a lon<span class=\"_ _0\"></span>g lea<span class=\"_ _0\"></span>se (ty<span class=\"_ _0\"></span>pical<span class=\"_ _0\"></span>ly 30<span class=\"_ _0\"></span>-45 y<span class=\"_ _0\"></span>ears) o<span class=\"_ _0\"></span>r a groun<span class=\"_ _0\"></span>d lea<span class=\"_ _0\"></span>se </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs397\">(t<span class=\"_ _0\"></span>ypica<span class=\"_ _0\"></span>lly 45<span class=\"_ _0\"></span>-175 yea<span class=\"_ _0\"></span>rs) and r<span class=\"_ _0\"></span>etain<span class=\"_ _0\"></span>s the rig<span class=\"_ _0\"></span>ht to rep<span class=\"_ _0\"></span>urcha<span class=\"_ _0\"></span>se the p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y at the en<span class=\"_ _0\"></span>d of the le<span class=\"_ _0\"></span>ase fo<span class=\"_ _0\"></span>r a nomin<span class=\"_ _0\"></span>al sum (u<span class=\"_ _0\"></span>suall<span class=\"_ _0\"></span>y \u00a31). Th<span class=\"_ _0\"></span>e inco<span class=\"_ _0\"></span>me str<span class=\"_ _0\"></span>ips are v<span class=\"_ _0\"></span>alue<span class=\"_ _0\"></span>d using a<span class=\"_ _0\"></span>n incom<span class=\"_ _0\"></span>e cap<span class=\"_ _0\"></span>itali<span class=\"_ _0\"></span>satio<span class=\"_ _0\"></span>n appro<span class=\"_ _0\"></span>ach<span class=\"_ _0\"></span>, where t<span class=\"_ _0\"></span>he </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls26 ws11 gs398\">annual rental income is<span class=\"_ _2\"></span> capit<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span>ise<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> using an appropriate yield.<span class=\"_ _2\"></span> The yield is determined by<span class=\"_ _2\"></span> con<span class=\"_ _0\"></span>sideri<span class=\"_ _2\"></span>ng recent transac<span class=\"_ _0\"></span>tions<span class=\"_ _2\"></span> involving similar<span class=\"_ _2\"></span> incom<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> strips<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws30 gs399\">4 <span class=\"_ _145\"> </span><span class=\"ws1\">I<span class=\"_ _0\"></span>FL92C<span class=\"_ _0\"></span>15 an<span class=\"_ _0\"></span>d IML<span class=\"_ _0\"></span>92C1<span class=\"_ _0\"></span>5 rel<span class=\"_ _0\"></span>ate to imm<span class=\"_ _0\"></span>ediat<span class=\"_ _0\"></span>e annui<span class=\"_ _0\"></span>tant fe<span class=\"_ _0\"></span>male an<span class=\"_ _0\"></span>d male l<span class=\"_ _0\"></span>ives an<span class=\"_ _0\"></span>d refer to t<span class=\"_ _0\"></span>he 92 se<span class=\"_ _0\"></span>ries m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>alit<span class=\"_ _0\"></span>y tabl<span class=\"_ _0\"></span>es pro<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d by the C<span class=\"_ _0\"></span>ontinu<span class=\"_ _0\"></span>ous Mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lit<span class=\"_ _0\"></span>y Inves<span class=\"_ _0\"></span>tigat<span class=\"_ _0\"></span>ion (\u2018<span class=\"_ _0\"></span>CMI<span class=\"_ _0\"></span>\u2019).<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws30 gs39a\">5 <span class=\"_ _145\"> </span><span class=\"ws1\">D<span class=\"_ _0\"></span>eriv<span class=\"_ _0\"></span>ative li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies inc<span class=\"_ _0\"></span>lude fo<span class=\"_ _0\"></span>rwa<span class=\"_ _0\"></span>rd inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>ts of \u00a33<span class=\"_ _0\"></span>3 millio<span class=\"_ _0\"></span>n (2023<span class=\"_ _0\"></span>: \u00a354 mi<span class=\"_ _0\"></span>llion) wh<span class=\"_ _0\"></span>ich inc<span class=\"_ _0\"></span>lude a c<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>ment to a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>re or prov<span class=\"_ _0\"></span>ide fun<span class=\"_ _0\"></span>ding fo<span class=\"_ _0\"></span>r fixed ra<span class=\"_ _0\"></span>te debt in<span class=\"_ _0\"></span>str<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s at spe<span class=\"_ _0\"></span>cifie<span class=\"_ _0\"></span>d futu<span class=\"_ _0\"></span>re date<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws30 gs39b\">6 <span class=\"_ _145\"> </span><span class=\"ws1\">In<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d with<span class=\"_ _0\"></span>in deri<span class=\"_ _0\"></span>vative a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies are l<span class=\"_ _0\"></span>onge<span class=\"_ _0\"></span>vit<span class=\"_ _0\"></span>y swap c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>cts wi<span class=\"_ _0\"></span>th cor<span class=\"_ _0\"></span>porat<span class=\"_ _0\"></span>e pens<span class=\"_ _0\"></span>ion sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s with a fa<span class=\"_ _0\"></span>ir valu<span class=\"_ _0\"></span>e of \u00a316<span class=\"_ _0\"></span>5 mill<span class=\"_ _0\"></span>ion (202<span class=\"_ _0\"></span>3: \u00a323<span class=\"_ _0\"></span>0 mill<span class=\"_ _0\"></span>ion) and \u00a3<span class=\"_ _0\"></span>63 mill<span class=\"_ _0\"></span>ion (20<span class=\"_ _0\"></span>23: \u00a31<span class=\"_ _0\"></span>00 mi<span class=\"_ _0\"></span>llion) </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs39c\">res<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>tivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. (s<span class=\"_ _0\"></span>ee not<span class=\"_ _0\"></span>e E3.<span class=\"_ _0\"></span>2 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws30 gs39d\">7 <span class=\"_ _1af\"> </span><span class=\"ws1\">In<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d withi<span class=\"_ _0\"></span>n deriv<span class=\"_ _0\"></span>ative li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies is th<span class=\"_ _0\"></span>e Equit<span class=\"_ _0\"></span>y Rel<span class=\"_ _0\"></span>ease I<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e Plan (<span class=\"_ _0\"></span>\u2018ER<span class=\"_ _0\"></span>IP<span class=\"_ _0\"></span>\u2019) tot<span class=\"_ _0\"></span>al retu<span class=\"_ _0\"></span>rn swap w<span class=\"_ _0\"></span>ith a val<span class=\"_ _0\"></span>ue of \u00a33<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n (2023<span class=\"_ _0\"></span>: \u00a350 mi<span class=\"_ _0\"></span>llion), un<span class=\"_ _0\"></span>der wh<span class=\"_ _0\"></span>ich a sh<span class=\"_ _0\"></span>are of the d<span class=\"_ _0\"></span>ispo<span class=\"_ _0\"></span>sal pro<span class=\"_ _0\"></span>cee<span class=\"_ _0\"></span>ds aris<span class=\"_ _0\"></span>ing on </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls23 ws1 gs39e\">a<span class=\"_ gs1f7\"> </span>po<span class=\"_ _0\"></span>rtf<span class=\"_ _0\"></span>olio of pr<span class=\"_ _0\"></span>oper<span class=\"_ _0\"></span>ty re<span class=\"_ _0\"></span>vers<span class=\"_ _0\"></span>ions is p<span class=\"_ _0\"></span>ayabl<span class=\"_ _0\"></span>e to a third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y (see n<span class=\"_ _0\"></span>ote E.<span class=\"_ _0\"></span>3.<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r deta<span class=\"_ _0\"></span>ils).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs3a0\">E2<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.1 Debt s<span class=\"_ _0\"></span>ecurit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div><div class=\"gs3a1\"><table class=\"s w4a9 h23a\" id=\"_cc0f4a8a-8104-487a-9126-302b773fbff2\"><tr><td></td><td class=\"t m0 x1ce h29 y5cc1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5cc1 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5cc2 ff2 fs5 fc3 sc0 ls1 ws1\">Ana<span class=\"_ _0\"></span>lysi<span class=\"_ _0\"></span>s of Level 3 de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cc2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5cc2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5cc3 ff2 fs6 fc3 sc0 ls13 ws14\">Unquoted corporate bonds:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cc4 w4aa h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit a<span class=\"_ _0\"></span>gencie<span class=\"_ _0\"></span>s &amp; supranat<span class=\"_ _0\"></span>ionals<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94f y5cc4 w334 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">4<span class=\"_ _0\"></span>61<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x950 y5cc4 w14e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cc5 w4ab h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Private co<span class=\"_ _0\"></span>rporate cre<span class=\"_ _0\"></span>dit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x951 y5cc5 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,04<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x952 y5cc5 w4ac h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,829<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1d w4ad h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans \u2013 pro<span class=\"_ _0\"></span>ject fin<span class=\"_ _0\"></span>ance<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x953 y5c1d w4ae h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">1<span class=\"_ _0\"></span>,01<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x954 y5c1d w3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cc6 w4af h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans \u2013 co<span class=\"_ _0\"></span>rporate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x955 y5cc6 w4b0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,613<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x956 y5cc6 w132 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,493<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1f w476 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x957 y5c1f w2b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,172<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x958 y5c1f w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,186<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b31 w478 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x959 y5b31 w2c0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">8<span class=\"_ _0\"></span>23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95a y5b31 w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">9<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b32 w4b2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">ERM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95b y5b32 w172 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">4<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95c y5b32 w4b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,48<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 w487 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95d y5b33 w4b4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95e y5b33 w404 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>147<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 w4b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56a y5b34 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">555<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95f y5b34 w4b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">6<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w4b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Bridg<span class=\"_ _0\"></span>ing loans to pr<span class=\"_ _0\"></span>ivate equit<span class=\"_ _0\"></span>y funds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x551 y5afa w171 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x960 y5afa w20c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x961 y5c66 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5c66 w390 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w4b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal L<span class=\"_ _0\"></span>ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 3 debt se<span class=\"_ _0\"></span>curities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x962 y5a46 w41e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x963 y5a46 w4b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">13<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x964 y5b25 w4ba h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(555)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x965 y5b25 w4bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(67<span class=\"_ _2\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w4bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal L<span class=\"_ _0\"></span>ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 3 debt se<span class=\"_ _0\"></span>curities exc<span class=\"_ _0\"></span>luding a<span class=\"_ _0\"></span>mount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sified as h<span class=\"_ _0\"></span>eld for sa<span class=\"_ _0\"></span>le<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x966 y5a16 w4bd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">14,<span class=\"_ _0\"></span>591<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x967 y5a16 w4be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">13,<span class=\"_ _0\"></span>144<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs3a2\">E2<span class=\"_ _0\"></span>.4 S<span class=\"_ _0\"></span>ensit<span class=\"_ _0\"></span>ivities o<span class=\"_ _0\"></span>f Level 3 ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts<span class=\"_ _3bd\"> </span></div><div class=\"gs3a3\"><table class=\"s w4bf h23b\" id=\"_9dbae669-f2a7-4d4d-876b-08e5465c1175\"><tr><td></td><td></td><td></td><td class=\"c n x968 y5cc7 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x969 y5cc7 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x3ae h29 y5cc8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96a h29 y5cc8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96b ha y5cc8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96c ha y5cc8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act f<span class=\"_ _0\"></span>rom </td></tr><tr><td></td><td class=\"t m0 x3b7 ha y5cc9 ff2 fs5 fc3 sc0 ls11 ws11\">Key<span class=\"_ _2\"></span> unobse<span class=\"_ _0\"></span>rvable </td><td class=\"t m0 x96d ha y5cc9 ff2 fs5 fc3 sc0 ls11 ws11\">Reasonable </td><td class=\"t m0 x96e h29 y5cc9 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f h29 y5cc9 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x970 ha y5cc9 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x971 ha y5cc9 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x3b7 ha y5cca ff2 fs5 fc3 sc0 ls21 ws23\">input<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96d ha y5cca ff2 fs5 fc3 sc0 ls22 ws24\">alternative<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5cca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 h29 y5cca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a ha y5cca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5cca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5ccb w469 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x973 y5ccb w4c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net ass<span class=\"_ _0\"></span>et value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x974 y5ccb w4c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x975 y5ccb w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x976 y5ccb w4c3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x977 y5ccb w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x978 y5ccb w84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5ccc ff2 fs6 fc3 sc0 ls12 ws13\">statements<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c h23 y5ccd ff3 fs6 fc3 sc0 ls10 ws10\">Debt secu<span class=\"_ _2\"></span>rities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5cce ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit a<span class=\"_ _0\"></span>gencie<span class=\"_ _0\"></span>s </td><td class=\"c n x979 y5ccf w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ccf w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97b y5ccf w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97c y5ccf w4c6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97d y5ccf w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97e y5ccf w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5cd0 ff2 fs6 fc3 sc0 ls13 ws14\">and supranationals<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5cd1 w471 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private corporate credit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97f y5cd1 w4c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x980 y5cd1 w4c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/-<span class=\"_ _2\"></span> 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5cd1 w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(169)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x982 y5cd1 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">181<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x983 y5cd1 w4ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>103)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x984 y5cd1 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">116<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd2 w2b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x985 y5cd2 w4c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x986 y5cd2 w4cb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x987 y5cd2 w4cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x988 y5cd2 w4cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">1<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x989 y5cd2 w4ce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(129)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98a y5cd2 w4d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">134<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd3 w476 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98b y5cd3 w4cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit sp<span class=\"_ _0\"></span>read<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98c y5cd3 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 65<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98d y5cd3 w4d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>97)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98e y5cd3 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98f y5cd3 w4d1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(93<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x990 y5cd3 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">105<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd4 w478 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x991 y5cd4 w4d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x992 y5cd4 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x993 y5cd4 w4d3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x994 y5cd4 w4d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x995 y5cd4 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x996 y5cd4 w4d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd5 w4b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">ERM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x997 y5cd5 w4d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">C<span class=\"_ _0\"></span>redit sprea<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x998 y5cd5 w4d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>- 10<span class=\"_ _0\"></span>0bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x999 y5cd5 w4d8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">(41<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99a y5cd5 w284 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">457<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99b y5cd5 w4d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(37<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99c y5cd5 w4da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cd6 ff2 fs6 fc3 sc0 lsc wsb\">House pr<span class=\"_ _2\"></span>ice </td><td class=\"c n x974 y5cd7 w4db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99d y5cd7 w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99e y5cd7 w4dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(80<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99f y5cd7 w3e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a0 y5cd7 w4dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">(<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cd8 ff2 fs6 fc3 sc0 ls12b ws3c\">inflation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n x979 y5cd9 w4de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">House pr<span class=\"_ _2\"></span>ices<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a1 y5cd9 w4df h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a2 y5cd9 w4e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a3 y5cd9 w378 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(55<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a4 y5cd9 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a5 y5cd9 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(59)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x979 y5cda w4e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Mor<span class=\"_ _0\"></span>tality<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a6 y5cda w4db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 5<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a7 y5cda w135 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a8 y5cda w4e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a9 y5cda w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9aa y5cda w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cdb ff2 fs6 fc3 sc0 ls13 ws14\">V<span class=\"_ _2\"></span>oluntary </td><td class=\"c n x974 y5cdc w4c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ab y5cdc w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ac y5cdc w4e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ad y5cdc w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ae y5cdc w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cdd ff2 fs6 fc3 sc0 ls1 ws1\">rede<span class=\"_ _0\"></span>mption rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5cde w487 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9af y5cde w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b0 y5cde w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b1 y5cde w2d6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b2 y5cde w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b3 y5cde w4e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b4 y5cde w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">48<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cdf w4b5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9af y5cdf w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b0 y5cdf w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b5 y5cdf w4e6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b6 y5cdf w373 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b7 y5cdf w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(89)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b8 y5cdf wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce0 w48e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Collecti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b9 y5ce0 w4e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>ue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x974 y5ce0 w4c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ba y5ce0 w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bb y5ce0 w4e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(49<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bc y5ce0 w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bd y5ce0 w4e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce1 w4ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">Derivative ass<span class=\"_ _0\"></span>ets and liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x3b7 hc y5ce2 ff2 fs6 fc3 sc0 ls12 ws13\">statements<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td class=\"c n x9be y5ce1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce3 ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward private pla<span class=\"_ _0\"></span>cement<span class=\"_ _0\"></span>s, infra<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>ture </td><td class=\"c n x979 y5ce4 w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ce4 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bf y5ce4 w4eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c0 y5ce4 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c1 y5ce4 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c2 y5ce4 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce5 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>lo<span class=\"_ _0\"></span>cal auth<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y loans<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce6 w4ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swap contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c3 y5ce6 w4ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sw<span class=\"_ _0\"></span>ap curve<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c4 y5ce6 w4ee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/-<span class=\"_ _2\"></span> 1<span class=\"_ _0\"></span>00bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c5 y5ce6 w185 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c6 y5ce6 w4ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c7 y5ce6 w208 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c8 y5ce6 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce7 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total  </td><td class=\"c n x979 y5ce8 w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ce8 w4f0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 1<span class=\"_ _0\"></span>00bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c9 y5ce8 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ca y5ce8 w4f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cb y5ce8 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cc y5ce8 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce9 ff2 fs6 fc3 sc0 ls1 ws1\">return s<span class=\"_ _0\"></span>wap<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3a4\">For the pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>y rever<span class=\"_ _0\"></span>sions loan<span class=\"_ _0\"></span>s and bridgin<span class=\"_ _0\"></span>g loans to priva<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y funds<span class=\"_ _0\"></span>, there are no re<span class=\"_ _0\"></span>asonab<span class=\"_ _0\"></span>ly possib<span class=\"_ _0\"></span>le movement<span class=\"_ _0\"></span>s in unobse<span class=\"_ _0\"></span>rvable in<span class=\"_ _0\"></span>put </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3a5\">value<span class=\"_ _0\"></span>s which would re<span class=\"_ _0\"></span>sult in a signific<span class=\"_ _0\"></span>ant movement in th<span class=\"_ _0\"></span>e fair value of the fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs3a7\">E2<span class=\"_ _0\"></span>.5 T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs of finan<span class=\"_ _0\"></span>cial i<span class=\"_ _0\"></span>nstr<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween Level 1 a<span class=\"_ _0\"></span>nd Level 2<span class=\"_ _3bd\"> </span></div><div class=\"gs3a8\"><table class=\"s w4f2 h23c\" id=\"_188701f7-ddfd-48bf-b742-51513608b6eb\"><tr><td></td><td class=\"t m0 x57a h29 y5cea ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 1 to </td><td class=\"t m0 x9cd h29 y5cea ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 2 to </td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5ceb ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 h29 y5ceb ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5cec ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5cec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5ced ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5cee ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b29 we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ce y5b29 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cf y5b29 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b06 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d0 y5b06 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d1 y5b06 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a15 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d2 y5a15 w131 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>319<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d3 y5a15 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">244<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a16 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d4 y5a16 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d5 y5a16 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs3a9\"><table class=\"s w4f2 h23d\" id=\"_eec37631-5858-4478-903c-eb832b570ab8\"><tr><td></td><td class=\"t m0 x57a h29 y5cef ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 1 to </td><td class=\"t m0 x9cd h29 y5cef ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 2 to </td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5cf0 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 h29 y5cf0 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5cf1 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cf1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5cf1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5cf2 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5cf3 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cf4 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d6 y5cf4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d7 y5cf4 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5cf5 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets des<span class=\"_ _0\"></span>ignated at F<span class=\"_ _0\"></span>VT<span class=\"_ _0\"></span>PL upon initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cf6 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x24c y5cf6 wcc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x24d y5cf6 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cf7 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d2 y5cf7 w4f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d8 y5cf7 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">7<span class=\"_ _0\"></span>25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5cf8 w3d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f6 y5a16 w4f4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">1,188<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d9 y5a16 w119 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs3aa\">1 <span class=\"_ _9\"> </span>As a re<span class=\"_ _0\"></span>sult of th<span class=\"_ _0\"></span>e ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of th<span class=\"_ _0\"></span>e liquid<span class=\"_ _0\"></span>ity of t<span class=\"_ _0\"></span>he und<span class=\"_ _0\"></span>erlyi<span class=\"_ _0\"></span>ng inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d withi<span class=\"_ _0\"></span>n colle<span class=\"_ _0\"></span>ctiv<span class=\"_ _0\"></span>e invest<span class=\"_ _0\"></span>ment s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>es, i<span class=\"_ _0\"></span>n acco<span class=\"_ _0\"></span>rdan<span class=\"_ _0\"></span>ce with t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up\u2019s fair va<span class=\"_ _0\"></span>lue hie<span class=\"_ _0\"></span>rarchy c<span class=\"_ _0\"></span>las<span class=\"_ _0\"></span>sifica<span class=\"_ _0\"></span>tion m<span class=\"_ _0\"></span>ethod<span class=\"_ _0\"></span>olog<span class=\"_ _0\"></span>y a<span class=\"_ gs1f7\"> </span>net </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs3ab\">\u00a31<span class=\"_ _0\"></span>,172 mil<span class=\"_ _0\"></span>lion of co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s has tr<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rred f<span class=\"_ _0\"></span>rom Level 1 t<span class=\"_ _0\"></span>o Level 2.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ac\">Con<span class=\"_ _0\"></span>sistent with t<span class=\"_ _0\"></span>he prior year, all the Group\u2019s Level 1 and Level 2 a<span class=\"_ _0\"></span>ssets h<span class=\"_ _0\"></span>ave been val<span class=\"_ _0\"></span>ued using s<span class=\"_ _0\"></span>tandar<span class=\"_ _0\"></span>d market pricing so<span class=\"_ _0\"></span>urces<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ad\">The ap<span class=\"_ _0\"></span>plication of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s fa<span class=\"_ _0\"></span>ir value hierarc<span class=\"_ _0\"></span>hy classifi<span class=\"_ _0\"></span>cation met<span class=\"_ _0\"></span>hodolo<span class=\"_ _0\"></span>gy at an individ<span class=\"_ _0\"></span>ual sec<span class=\"_ _0\"></span>urity leve<span class=\"_ _0\"></span>l, in par<span class=\"_ _0\"></span>ticular obs<span class=\"_ _0\"></span>ervat<span class=\"_ _0\"></span>ions with reg<span class=\"_ _0\"></span>ard </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ae\">to mea<span class=\"_ _0\"></span>sures of market depth an<span class=\"_ _0\"></span>d bid-ask s<span class=\"_ _0\"></span>preads<span class=\"_ _0\"></span>, resulted in a<span class=\"_ _0\"></span>n ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rall net movem<span class=\"_ _0\"></span>ent of debt sec<span class=\"_ _0\"></span>urities from Level 1 to Level 2 in b<span class=\"_ _0\"></span>oth the current </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3af\">and pr<span class=\"_ _0\"></span>ior period<span class=\"_ _0\"></span>. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs3b0\">E2<span class=\"_ _0\"></span>.6 Movem<span class=\"_ _0\"></span>ent in Level 3 fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial ins<span class=\"_ _0\"></span>trum<span class=\"_ _0\"></span>ents me<span class=\"_ _0\"></span>asur<span class=\"_ _0\"></span>ed at fair va<span class=\"_ _0\"></span>lue<span class=\"_ _3bd\"> </span></div><div class=\"gs3b1\"><table class=\"s w4f5 h23e\" id=\"_32c57813-a49e-4133-a6c4-a76bdea421ac\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9da h29 y5cf9 ff3 fs5 fc3 sc0 lsbe wsbe\">Unrealised </td></tr><tr><td></td><td></td><td class=\"t m0 x9db h29 y5cfa ff3 fs5 fc3 sc0 ls8d ws86\">Net (losses)<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 x49b h29 y5cfa ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransfers<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 x9dc h29 y5cfb ff3 fs5 fc3 sc0 ls8d ws86\">(losses)/<span class=\"_ _4\"></span>gains </td></tr><tr><td></td><td></td><td class=\"t m0 x3a3 h29 y5cfc ff3 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins in </td><td></td><td></td><td class=\"t m0 x9dd h29 y5cfc ff3 fs5 fc3 sc0 ls1 ws1\"> fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x9de h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ans<span class=\"_ _0\"></span>fers to </td><td class=\"t m0 x9df h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 x9e0 h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">on a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s hel<span class=\"_ _0\"></span>d </td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5cfe ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x3a3 h29 y5cfe ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td></td><td></td><td class=\"t m0 x96a h29 y5cfe ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 </td><td class=\"t m0 x9e2 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 x492 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 x498 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5d00 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea h29 y5d00 ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f4 h29 y5d00 ff3 fs5 fc3 sc0 ls8d ws86\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e3 h29 y5d00 ff3 fs5 fc3 sc0 ls8d ws86\">Sales<span class=\"_ _3bd\"> </span></td><td class=\"c x924 y5d02 w4f6 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">an<span class=\"_ _0\"></span>d Level 2</div><div class=\"t m0 x9e4 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">2</div></td><td class=\"t m0 x919 h29 y5d03 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"c x9e6 y5d02 w4f7 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024</div><div class=\"t m0 x9e5 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x6be h29 y5d03 ff3 fs5 fc3 sc0 ls22 ws24\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5d04 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d06 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d07 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d08 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d08 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ea y5d08 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9eb y5d08 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ec y5d08 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ed y5d08 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ee y5d08 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ef y5d08 w4f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f0 y5d08 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5d09 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f1 y5d09 w10a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">2,49<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f2 y5d09 w98 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f3 y5d09 w4f9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">446<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f4 y5d09 w4fa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f5 y5d09 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f6 y5d09 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a7 y5d09 w4fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">2,<span class=\"_ _0\"></span>576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f7 y5d09 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c06 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f8 y5c06 w4fc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6d ws202\">13,818<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f9 y5c06 w4fd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(335<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fa y5c06 w4fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>42<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fb y5c06 w4ff h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fc y5c06 wd2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">282<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fd y5c06 waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fe y5c06 w41e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ff y5c06 w500 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>259<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c07 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa00 y5c07 w501 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">401<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa01 y5c07 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa02 y5c07 w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa03 y5c07 w503 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(60)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa04 y5c07 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa05 y5c07 w9f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa06 y5c07 w2d8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa07 y5c07 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w421 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa08 y5a16 w504 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa09 y5a16 w4fd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls8e ws87\">(346<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0a y5a16 w505 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,01<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0b y5a16 w506 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>02)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0c y5a16 w221 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0d y5a16 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0e y5a16 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0f y5a16 w4ba h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(239)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs3b2\">1 <span class=\"_ _9\"> </span>T<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al finan<span class=\"_ _0\"></span>cial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts of \u00a31<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>37<span class=\"_ _2\"></span>4 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a355<span class=\"_ _0\"></span>5 milli<span class=\"_ _0\"></span>on of ass<span class=\"_ _0\"></span>ets cl<span class=\"_ _0\"></span>ass<span class=\"_ _0\"></span>ified as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs3b3\">2 <span class=\"_ _1a\"> </span>D<span class=\"_ _0\"></span>uring t<span class=\"_ _0\"></span>he year, \u00a32<span class=\"_ _0\"></span>82 milli<span class=\"_ _0\"></span>on of deb<span class=\"_ _0\"></span>t secu<span class=\"_ _0\"></span>ritie<span class=\"_ _0\"></span>s were tr<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rred f<span class=\"_ _0\"></span>rom Leve<span class=\"_ _0\"></span>l 1 and Leve<span class=\"_ _0\"></span>l 2 to Level 3 to h<span class=\"_ _0\"></span>armo<span class=\"_ _0\"></span>nise th<span class=\"_ _0\"></span>e appr<span class=\"_ _0\"></span>oach fo<span class=\"_ _0\"></span>r deter<span class=\"_ _0\"></span>minin<span class=\"_ _0\"></span>g the fair v<span class=\"_ _0\"></span>alue hi<span class=\"_ _0\"></span>erar<span class=\"_ _0\"></span>chy acro<span class=\"_ _0\"></span>ss th<span class=\"_ _0\"></span>e Group fo<span class=\"_ _0\"></span>llowin<span class=\"_ _0\"></span>g the </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs3b4\">ac<span class=\"_ _0\"></span>quisi<span class=\"_ _0\"></span>tion of Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s Limite<span class=\"_ _0\"></span>d (forme<span class=\"_ _0\"></span>rly kn<span class=\"_ _0\"></span>own as S<span class=\"_ _0\"></span>LF of Can<span class=\"_ _0\"></span>ada UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d) in the p<span class=\"_ _0\"></span>rior pe<span class=\"_ _0\"></span>riod<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs3b5\"><table class=\"s w507 h240\" id=\"_910f38ae-c48d-4f96-b46e-4a5836c854f3\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9da h29 y5d0a ff3 fs5 fc3 sc0 lsbe wsbe\">Unrealised </td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9e0 h29 y5d0b ff3 fs5 fc3 sc0 ls8d ws86\">(gains)/<span class=\"_ _2\"></span>loss<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> </td></tr><tr><td></td><td></td><td class=\"t m0 xa10 h29 y5d0c ff3 fs5 fc3 sc0 lsa4 ws9f\">Ne<span class=\"_ _0\"></span>t (gai<span class=\"_ _0\"></span>ns)/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x971 h29 y5d0c ff3 fs5 fc3 sc0 ls8d ws86\">losses on </td></tr><tr><td></td><td></td><td class=\"t m0 x2e3 h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">los<span class=\"_ _0\"></span>ses i<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 x49b h29 y5d0d ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransfers </td><td class=\"t m0 x9de h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ans<span class=\"_ _0\"></span>fers to </td><td class=\"t m0 xa11 h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">At 31<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e0 h29 y5d0d ff3 fs5 fc3 sc0 ls65 wsc0\">liabilities held </td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5d0e ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x3a3 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td></td><td class=\"t m0 x490 h29 y5d0e ff3 fs5 fc3 sc0 ls8d ws86\">Sales/ </td><td class=\"t m0 xa12 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">fro<span class=\"_ _0\"></span>m Level 1 </td><td class=\"t m0 x9e2 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 x75e h29 y5d0e ff3 fs5 fc3 sc0 lsbe wsbe\"> December </td><td class=\"t m0 x498 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5d0f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea h29 y5d0f ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f4 h29 y5d0f ff3 fs5 fc3 sc0 ls8d ws86\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae h29 y5d0f ff3 fs5 fc3 sc0 lsbe wsbe\">repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa13 h29 y5d0f ff3 fs5 fc3 sc0 ls1 ws1\">an<span class=\"_ _0\"></span>d Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x919 h29 y5d0f ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5d0f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6be h29 y5d0f ff3 fs5 fc3 sc0 ls22 ws24\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5d10 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d11 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d12 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d13 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa14 y5d13 w14e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">206<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa15 y5d13 w508 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa16 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa17 y5d13 w33f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa18 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa19 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1a y5d13 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1b y5d13 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>67)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5d14 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d15 ff2 fs6 fc3 sc0 lsd wsd\">initial recog<span class=\"_ _0\"></span>nition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c07 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1c y5c07 w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1d y5c07 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1e y5c07 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1f y5c07 w187 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa20 y5c07 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa21 y5c07 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa22 y5c07 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa23 y5c07 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w509 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> mea<span class=\"_ _0\"></span>sured<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa24 y5a16 w50a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa25 y5a16 w185 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa26 y5a16 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa27 y5a16 w50b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa28 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa29 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa2a y5a16 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa2b y5a16 w503 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(65)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><table class=\"s w50c h241\" id=\"_80791844-630e-45b6-99b4-786198e658b9\"><tr><td></td><td></td><td class=\"t m0 xa2c ha y5d16 ff2 fs5 fc3 sc0 ls11 ws11\">Net (losses)/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x941 ha y5d16 ff2 fs5 fc3 sc0 ls21 ws23\">Unrealis<span class=\"_ _0\"></span>ed </td></tr><tr><td></td><td></td><td class=\"t m0 x2de ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins in </td><td></td><td></td><td class=\"t m0 x606 ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x913 ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs to </td><td class=\"t m0 x9df ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 x86c ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins on as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s </td></tr><tr><td></td><td class=\"t m0 xa2d ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2de ha y5d18 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td></td><td></td><td class=\"t m0 x3bc ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2e ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2f ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 xa30 ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">he<span class=\"_ _0\"></span>ld at end o<span class=\"_ _0\"></span>f </td></tr><tr><td></td><td class=\"t m0 x3b2 ha y5d19 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea ha y5d19 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 ha y5d19 ff2 fs5 fc3 sc0 ls54 ws7f\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e3 ha y5d19 ff2 fs5 fc3 sc0 ls11 ws11\">Sales<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96a ha y5d19 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x919 ha y5d19 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"c x9e6 y5d1a w4f7 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023</div><div class=\"t m0 x9e5 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 xa32 ha y5d19 ff2 fs5 fc3 sc0 ls9e ws9a\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5d1b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d1c ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d1d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d1e wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa33 y5d1e w1a8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa34 y5d1e w20d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa35 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa36 y5d1e w251 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa37 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa38 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa39 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3a y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5d1f we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d1f w50d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3b y5d1f w5c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3c y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3d y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3e y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3f y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa40 y5d1f wd2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa41 y5d1f w5c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5a45 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f1 y5a45 w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,19<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa42 y5a45 w50e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa43 y5a45 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">433<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa44 y5a45 w4ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>293)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa45 y5a45 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa46 y5a45 w1fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa47 y5a45 w132 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa48 y5a45 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5b24 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f8 y5b24 w54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _0\"></span>,465<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa49 y5b24 w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4a y5b24 w510 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4b y5b24 w511 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4c y5b24 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">150<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4d y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4e y5b24 w512 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">1<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>818<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4f y5b24 w20c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5b25 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa50 y5b25 w441 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">312<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa51 y5b25 w513 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa52 y5b25 w514 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa53 y5b25 w324 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa54 y5b25 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa55 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa56 y5b25 we0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">401<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa41 y5b25 w199 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w421 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa57 y5a16 w515 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">14<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa58 y5a16 w516 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1de ws1f9\">70<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa59 y5a16 w510 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5a y5a16 w517 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>5,<span class=\"_ _0\"></span>528)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5b y5a16 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">153<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5c y5a16 w518 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5d y5a16 w519 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5e y5a16 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>Total fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s of \u00a316<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>46 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a3678 m<span class=\"_ _0\"></span>illion o<span class=\"_ _0\"></span>f asse<span class=\"_ _0\"></span>ts cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as h<span class=\"_ _0\"></span>eld for s<span class=\"_ _0\"></span>ale.<span class=\"_ _3bd\"> </span><table class=\"s w50c h242\" id=\"_1d184edc-d623-48c6-bbd6-df06a9ee08bd\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x941 ha y5d20 ff2 fs5 fc3 sc0 ls21 ws23\">Unrealis<span class=\"_ _0\"></span>ed </td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x498 ha y5d21 ff2 fs5 fc3 sc0 ls1 ws1\">los<span class=\"_ _0\"></span>ses o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td></td><td class=\"t m0 xa2c ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t loss<span class=\"_ _0\"></span>es in </td><td></td><td></td><td class=\"t m0 x606 ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x913 ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs to </td><td class=\"t m0 x9df ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 xa30 ha y5d22 ff2 fs5 fc3 sc0 ls21 ws23\">liabilities he<span class=\"_ _0\"></span>ld </td></tr><tr><td></td><td class=\"t m0 xa2d ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2de ha y5d23 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td></td><td class=\"t m0 x490 ha y5d23 ff2 fs5 fc3 sc0 ls11 ws11\">Sales/<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bc ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2e ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2f ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 x498 ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x3b2 ha y5d24 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea ha y5d24 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 ha y5d24 ff2 fs5 fc3 sc0 ls54 ws7f\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae ha y5d24 ff2 fs5 fc3 sc0 ls4d wsbf\">Repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96a ha y5d24 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa5f ha y5d24 ff2 fs5 fc3 sc0 ls14a ws138\">Level </td><td class=\"t m0 x49c ha y5d24 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa32 ha y5d24 ff2 fs5 fc3 sc0 ls9e ws9a\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5d25 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f7 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">2\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d26 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d27 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d28 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d28 w51a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa60 y5d28 w2a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">67<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa61 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa62 y5d28 w28b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(10<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa63 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa64 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa65 y5d28 w215 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa66 y5d28 w341 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">59<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5d29 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d2a ff2 fs6 fc3 sc0 lsd wsd\">initial recog<span class=\"_ _0\"></span>nition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d2b w142 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa67 y5d2b w51b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa68 y5d2b w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa69 y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6a y5d2b w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6b y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6c y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6d y5d2b w1b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6e y5d2b wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5d2c ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> mea<span class=\"_ _0\"></span>sured<span class=\"_ _2\"></span> <span class=\"ls1 ws1\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b4c w51c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">at fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6f y5b4c w6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">307<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa70 y5b4c w51d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa71 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa72 y5b4c w84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa73 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa74 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa75 y5b4c w2ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">2<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa76 y5b4c wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _3bd\"> </span></div></td></tr></table>Gains a<span class=\"_ _0\"></span>nd loss<span class=\"_ _0\"></span>es on Level 3 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me statem<span class=\"_ _0\"></span>ent. Th<span class=\"_ _0\"></span>ere were no<span class=\"_ gs47\"> </span>gain<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span> or los<span class=\"_ _0\"></span>ses rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income in ei<span class=\"_ _0\"></span>ther the cur<span class=\"_ _0\"></span>rent or compa<span class=\"_ _0\"></span>rative perio<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>E3. D<span class=\"_ _0\"></span>erivatives<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up purchas<span class=\"_ _0\"></span>es derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s princip<span class=\"_ _0\"></span>ally in conne<span class=\"_ _0\"></span>ction with t<span class=\"_ _0\"></span>he manag<span class=\"_ _0\"></span>ement of it<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t and investm<span class=\"_ _0\"></span>ent contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of reduc<span class=\"_ _0\"></span>tion of risk and ef<span class=\"_ _0\"></span>ficient p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y hold deriv<span class=\"_ _0\"></span>atives for the p<span class=\"_ _0\"></span>urpose of sellin<span class=\"_ _0\"></span>g and repurc<span class=\"_ _0\"></span>hasing in the n<span class=\"_ _0\"></span>ear term or wit<span class=\"_ _0\"></span>h the obje<span class=\"_ _0\"></span>ctive of gen<span class=\"_ _0\"></span>erating a profit f<span class=\"_ _0\"></span>rom shor<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-ter<span class=\"_ _0\"></span>m fluctua<span class=\"_ _0\"></span>tions in price o<span class=\"_ _0\"></span>r margin<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up also holds d<span class=\"_ _0\"></span>erivatives whic<span class=\"_ _0\"></span>h are design<span class=\"_ _0\"></span>ated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to he<span class=\"_ _0\"></span>dge the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings. T<span class=\"_ _0\"></span>hese he<span class=\"_ _0\"></span>dging rela<span class=\"_ _0\"></span>tionships qu<span class=\"_ _0\"></span>alify for he<span class=\"_ _0\"></span>dge ac<span class=\"_ _0\"></span>counting un<span class=\"_ _0\"></span>der IFRS 9 a<span class=\"_ _0\"></span>nd are design<span class=\"_ _0\"></span>ated as ca<span class=\"_ _0\"></span>sh flow hed<span class=\"_ _0\"></span>ges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Der<span class=\"_ _0\"></span>ivative financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed initially at f<span class=\"_ _0\"></span>air value and are s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ently reme<span class=\"_ _0\"></span>asured to fair va<span class=\"_ _0\"></span>lue. The ga<span class=\"_ _0\"></span>in or loss on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement wh<span class=\"_ _0\"></span>ere the deriv<span class=\"_ _0\"></span>atives are held for t<span class=\"_ _0\"></span>rading<span class=\"_ _0\"></span>. Where deriva<span class=\"_ _0\"></span>tive finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are h<span class=\"_ _0\"></span>eld to hed<span class=\"_ _0\"></span>ge the Group\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion of any gain or lo<span class=\"_ _0\"></span>ss that aris<span class=\"_ _0\"></span>es on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is initia<span class=\"_ _0\"></span>lly recog<span class=\"_ _0\"></span>nised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and is re<span class=\"_ _0\"></span>cycled to profi<span class=\"_ _0\"></span>t or loss as th<span class=\"_ _0\"></span>e hedg<span class=\"_ _0\"></span>ed item impa<span class=\"_ _0\"></span>cts the profit or lo<span class=\"_ _0\"></span>ss. S<span class=\"_ _0\"></span>ee notes E1 an<span class=\"_ _0\"></span>d D3 for furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edging a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs3c7\">E3.1 Summary<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3c8\">The fa<span class=\"_ _0\"></span>ir values of deriva<span class=\"_ _0\"></span>tive financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts are as follows<span class=\"_ _0\"></span>: </div><div class=\"gs3c9\"><table class=\"s w51e h243\" id=\"_169c13f2-7ae7-4616-a4be-f011713da42b\"><tr><td></td><td class=\"t m0 xa77 h29 y5d2d ff3 fs5 fc3 sc0 ls9e ws9a\">Assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa78 h29 y5d2d ff3 fs5 fc3 sc0 ls22 ws24\">Liabilities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5cc ha y5d2d ff2 fs5 fc3 sc0 ls65 wsc0\">Asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y5d2d ff2 fs5 fc3 sc0 ls21 ws23\">Liabilities<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa79 h29 y5d2e ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c5 h29 y5d2e ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1ce ha y5d2e ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5d2e ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x542 h29 y5d2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5d2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5d2f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d2f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5d30 w51f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward curren<span class=\"_ _0\"></span>cy<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7a y5d30 w520 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">130<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7b y5d30 w371 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7c y5d30 w100 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">265<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7d y5d30 w521 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d31 w522 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Credit d<span class=\"_ _0\"></span>efault swap<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7e y5d31 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7f y5d31 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa80 y5d31 wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa81 y5d31 w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d32 w523 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts fo<span class=\"_ _0\"></span>r differen<span class=\"_ _0\"></span>ce<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa82 y5d32 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa83 y5d32 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa84 y5d32 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa85 y5d32 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d33 w524 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t rate swap<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa86 y5d33 w525 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,526<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa87 y5d33 w3d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa88 y5d33 w526 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa89 y5d33 w527 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2,<span class=\"_ _0\"></span>290<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cc4 w528 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ret<span class=\"_ _0\"></span>urn bond swa<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8a y5cc4 w243 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8b y5cc4 w195 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8c y5cc4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8d y5cc4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d34 w529 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Swaptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8e y5d34 w1af h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">147<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8f y5d34 w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa90 y5d34 w1a4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa91 y5d34 w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">65<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c1d w52a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Inflation swap<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa92 y5c1d w1a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa93 y5c1d wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">339<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa94 y5c1d w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa95 y5c1d w2c7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cc6 w52b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y options<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa96 y5cc6 w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa97 y5cc6 w2b2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x274 y5cc6 w52c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa98 y5cc6 wd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d35 w52d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Stock in<span class=\"_ _0\"></span>dex future<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa99 y5d35 w2aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9a y5d35 w204 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9b y5d35 w52e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9c y5d35 w197 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">87<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d36 w52f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fixe<span class=\"_ _0\"></span>d income fu<span class=\"_ _0\"></span>tures<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9d y5d36 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9e y5d36 w521 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">71<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9f y5d36 w98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4dd y5d36 w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">1<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b32 w4ec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swap contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5b32 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">165<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa0 y5b32 w5c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa1 y5b32 w6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">230<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa2 y5b32 wd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 w531 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Curren<span class=\"_ _0\"></span>cy future<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa3 y5b33 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa4 y5b33 w2ff h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa5 y5b33 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ac y5b33 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 w532 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cros<span class=\"_ _0\"></span>s currenc<span class=\"_ _0\"></span>y swaps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa6 y5c48 w4d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">156<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa7 y5c48 w215 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa8 y5c48 wd2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa9 y5c48 w533 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">274<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w534 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total return s<span class=\"_ _0\"></span>wap<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaa y5afa w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaab y5afa w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaac y5afa wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaad y5afa w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaae y5c66 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaf y5c66 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab0 y5c66 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab1 y5c66 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xab2 y5a46 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab3 y5a46 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab4 y5a46 we4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab5 y5a46 wdb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>344<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab6 y5a47 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab7 y5a47 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab8 y5a47 w1e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab9 y5a47 w151 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xab2 y5a16 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab3 y5a16 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaba y5a16 w15e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabb y5a16 w535 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs3ca\">E3<span class=\"_ _0\"></span>.2 Lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y swa<span class=\"_ _0\"></span>p contr<span class=\"_ _0\"></span>acts<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3cb\">The Gro<span class=\"_ _0\"></span>up has in pla<span class=\"_ _0\"></span>ce longev<span class=\"_ _0\"></span>ity sw<span class=\"_ _0\"></span>ap arrang<span class=\"_ _0\"></span>ements w<span class=\"_ _0\"></span>ith corpor<span class=\"_ _0\"></span>ate pensio<span class=\"_ _0\"></span>n scheme<span class=\"_ _0\"></span>s which do not m<span class=\"_ _0\"></span>eet the defini<span class=\"_ _0\"></span>tion of insuran<span class=\"_ _0\"></span>ce </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3cc\">contr<span class=\"_ _0\"></span>acts<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>der the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s acc<span class=\"_ _0\"></span>ounting poli<span class=\"_ _0\"></span>cies. Un<span class=\"_ _0\"></span>der thes<span class=\"_ _0\"></span>e arrang<span class=\"_ _0\"></span>ements t<span class=\"_ _0\"></span>he majo<span class=\"_ _0\"></span>rity of the lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y risk ha<span class=\"_ _0\"></span>s been pa<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>ird part<span class=\"_ _0\"></span>ies. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3cd\">Der<span class=\"_ _0\"></span>ivative asse<span class=\"_ _0\"></span>ts of \u00a31<span class=\"_ _0\"></span>65 million an<span class=\"_ _0\"></span>d derivative liabili<span class=\"_ _0\"></span>ties of \u00a363 million h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 (20<span class=\"_ _0\"></span>23: \u00a323<span class=\"_ _0\"></span>0 million and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ce\">\u00a31<span class=\"_ _0\"></span>00 million re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs3cf\">E3<span class=\"_ _0\"></span>.3 Eq<span class=\"_ _0\"></span>uity R<span class=\"_ _0\"></span>eleas<span class=\"_ _0\"></span>e Inco<span class=\"_ _0\"></span>me Plan (\u2018<span class=\"_ _0\"></span>ER<span class=\"_ _0\"></span>IP<span class=\"_ _0\"></span>\u2019) tot<span class=\"_ _0\"></span>al retu<span class=\"_ _0\"></span>rn swap<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs3d0\">ERI<span class=\"_ _0\"></span>P contrac<span class=\"_ _0\"></span>ts are an e<span class=\"_ _0\"></span>quity re<span class=\"_ _0\"></span>lease pro<span class=\"_ _0\"></span>duct unde<span class=\"_ _0\"></span>r which the Gro<span class=\"_ _0\"></span>up holds a rever<span class=\"_ _0\"></span>sionar<span class=\"_ _0\"></span>y interest in t<span class=\"_ _0\"></span>he residenti<span class=\"_ _0\"></span>al proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders who </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs3d1\">have be<span class=\"_ _0\"></span>en provided w<span class=\"_ _0\"></span>ith a lifetime annuit<span class=\"_ _0\"></span>y in return for t<span class=\"_ _0\"></span>he lega<span class=\"_ _0\"></span>l title to their prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y (see n<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>e G<span class=\"_ _0\"></span>4). The Group is p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y to an ERI<span class=\"_ _0\"></span>P total return swa<span class=\"_ _0\"></span>p </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs3d2\">under w<span class=\"_ _0\"></span>hich a share of the f<span class=\"_ _0\"></span>uture gen<span class=\"_ _0\"></span>erated c<span class=\"_ _0\"></span>ash flows aris<span class=\"_ _0\"></span>ing under th<span class=\"_ _0\"></span>e ERIP cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s is payable to a third pa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. O<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r time, as the p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs3d3\">revers<span class=\"_ _0\"></span>ions are realis<span class=\"_ _0\"></span>ed, the re<span class=\"_ _0\"></span>levant share of disp<span class=\"_ _0\"></span>osal pro<span class=\"_ _0\"></span>ceed<span class=\"_ _0\"></span>s is transfer<span class=\"_ _0\"></span>red to a third par<span class=\"_ _0\"></span>ty w<span class=\"_ _0\"></span>ho also ho<span class=\"_ _0\"></span>lds a benefic<span class=\"_ _0\"></span>ial interest in t<span class=\"_ _0\"></span>hese resi<span class=\"_ _0\"></span>dential </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls81 ws1 gs3d4\">prope<span class=\"_ _0\"></span>rtie<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g amount of the de<span class=\"_ _0\"></span>rivative liabilit<span class=\"_ _0\"></span>y is the pre<span class=\"_ _0\"></span>sent value of all fu<span class=\"_ _0\"></span>ture cash fl<span class=\"_ _0\"></span>ows due to the third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y under th<span class=\"_ _0\"></span>e to<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>al return swa<span class=\"_ _0\"></span>p.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls35 ws32 gs3d5\">E4. Collateral arrangements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs3d6\">The Gro<span class=\"_ _0\"></span>up receive<span class=\"_ _0\"></span>s and pled<span class=\"_ _0\"></span>ges coll<span class=\"_ _0\"></span>ateral in the form of c<span class=\"_ _0\"></span>ash or non-<span class=\"_ _0\"></span>cash as<span class=\"_ _0\"></span>sets in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of stock len<span class=\"_ _0\"></span>ding trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s, deri<span class=\"_ _0\"></span>vative contrac<span class=\"_ _0\"></span>ts and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs3d7\">reins<span class=\"_ _0\"></span>urance arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents in orde<span class=\"_ _0\"></span>r t<span class=\"_ _2\"></span>o re<span class=\"_ _0\"></span>duce the c<span class=\"_ _0\"></span>redit risk of the<span class=\"_ _0\"></span>se trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s. The am<span class=\"_ _0\"></span>ount and t<span class=\"_ _0\"></span>ype of collate<span class=\"_ _0\"></span>ral require<span class=\"_ _0\"></span>d where the Gro<span class=\"_ _0\"></span>up </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs3d8\">rec<span class=\"_ _0\"></span>eives collater<span class=\"_ _0\"></span>al depen<span class=\"_ _0\"></span>ds on an as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of<span class=\"_ gs47\"> </span>the credi<span class=\"_ _0\"></span>t risk of the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y, but is usuall<span class=\"_ _0\"></span>y in the form of cash a<span class=\"_ _0\"></span>nd marketable s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3d9\">Coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived in the form of c<span class=\"_ _0\"></span>ash, wh<span class=\"_ _0\"></span>ere the Group h<span class=\"_ _0\"></span>as contrac<span class=\"_ _0\"></span>tual rig<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s to receive th<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s gener<span class=\"_ _0\"></span>ated and is availa<span class=\"_ _0\"></span>ble to the Group </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3da\">for investm<span class=\"_ _0\"></span>ent purpo<span class=\"_ _0\"></span>ses, i<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised as a fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>set in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al position wi<span class=\"_ _0\"></span>th a corresp<span class=\"_ _0\"></span>onding fina<span class=\"_ _0\"></span>ncial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3db\">liabilit<span class=\"_ _0\"></span>y for its re<span class=\"_ _0\"></span>payment. N<span class=\"_ _0\"></span>on-ca<span class=\"_ _0\"></span>sh collater<span class=\"_ _0\"></span>al receive<span class=\"_ _0\"></span>d is not reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition, unle<span class=\"_ _0\"></span>ss the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3dc\">counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y defaul<span class=\"_ _0\"></span>ts on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the<span class=\"_ gs47\"> </span>relev<span class=\"_ _0\"></span>ant agreem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3dd\">Non-<span class=\"_ _0\"></span>cash c<span class=\"_ _0\"></span>ollateral ple<span class=\"_ _0\"></span>dged w<span class=\"_ _0\"></span>here the Gro<span class=\"_ _0\"></span>up retains the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual rights to re<span class=\"_ _0\"></span>ceive the c<span class=\"_ _0\"></span>ash flows g<span class=\"_ _0\"></span>enerate<span class=\"_ _0\"></span>d is not dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed from the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3de\">st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition, un<span class=\"_ _0\"></span>less the G<span class=\"_ _0\"></span>roup default<span class=\"_ _0\"></span>s on its oblig<span class=\"_ _0\"></span>ations unde<span class=\"_ _0\"></span>r the relevant a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nt. Cash c<span class=\"_ _0\"></span>ollateral pl<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3df\">where t<span class=\"_ _0\"></span>he counterpa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y has cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al rights to re<span class=\"_ _0\"></span>ceive the ca<span class=\"_ _0\"></span>sh flows ge<span class=\"_ _0\"></span>nerated<span class=\"_ _0\"></span>, is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d from the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fi<span class=\"_ _0\"></span>nancial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e0\">posi<span class=\"_ _0\"></span>tion and a corre<span class=\"_ _0\"></span>spondin<span class=\"_ _0\"></span>g receiva<span class=\"_ _0\"></span>ble is reco<span class=\"_ _0\"></span>gnised fo<span class=\"_ _0\"></span>r its return<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e1\">The Gro<span class=\"_ _0\"></span>up is also par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y to reverse rep<span class=\"_ _0\"></span>urchase a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nts under w<span class=\"_ _0\"></span>hich sec<span class=\"_ _0\"></span>urities are purc<span class=\"_ _0\"></span>hased f<span class=\"_ _0\"></span>rom third par<span class=\"_ _0\"></span>ties with an ob<span class=\"_ _0\"></span>ligation to res<span class=\"_ _0\"></span>ell the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e2\">se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>. The se<span class=\"_ _0\"></span>curities are n<span class=\"_ _0\"></span>ot recogn<span class=\"_ _0\"></span>ised as fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets on th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posi<span class=\"_ _0\"></span>tion, unle<span class=\"_ _0\"></span>ss the co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ty </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e3\">default<span class=\"_ _0\"></span>s on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the releva<span class=\"_ _0\"></span>nt agreem<span class=\"_ _0\"></span>ent. The r<span class=\"_ _0\"></span>ight to receive th<span class=\"_ _0\"></span>e return of any cash p<span class=\"_ _0\"></span>aid as purch<span class=\"_ _0\"></span>ase con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>lus interest </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e4\">is<span class=\"_ gs47\"> </span>rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as a financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t on the st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs3e5\">E4.1<span class=\"_ _2\"></span> Financial instrument col<span class=\"_ _2\"></span>lateral arrangements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e6\">The Gro<span class=\"_ _0\"></span>up has no fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l liabilities tha<span class=\"_ _0\"></span>t have been of<span class=\"_ _0\"></span>fset in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated financ<span class=\"_ _0\"></span>ial position a<span class=\"_ _0\"></span>s at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e7\">31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>202<span class=\"_ _2\"></span>4 (202<span class=\"_ _0\"></span>3: none).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws34 gs3e8\">The t<span class=\"_ _0\"></span>able below c<span class=\"_ _0\"></span>ontains dis<span class=\"_ _0\"></span>closures re<span class=\"_ _0\"></span>lated to financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets and fin<span class=\"_ _0\"></span>ancial liabili<span class=\"_ _0\"></span>ties reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial pos<span class=\"_ _0\"></span>ition </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3e9\">that are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to enforceabl<span class=\"_ _0\"></span>e master n<span class=\"_ _0\"></span>ettin<span class=\"_ _0\"></span>g arrange<span class=\"_ _0\"></span>ments or s<span class=\"_ _0\"></span>imilar agre<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>. Such a<span class=\"_ _0\"></span>greem<span class=\"_ _0\"></span>ents do not m<span class=\"_ _0\"></span>eet the crite<span class=\"_ _0\"></span>ria for<span class=\"_ gs47\"> </span>offs<span class=\"_ _0\"></span>ettin<span class=\"_ _0\"></span>g in the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ea\">st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition as the G<span class=\"_ _0\"></span>roup has no c<span class=\"_ _0\"></span>urrent leg<span class=\"_ _0\"></span>ally enforcea<span class=\"_ _0\"></span>ble right to off<span class=\"_ _0\"></span>set reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3eb\">Furth<span class=\"_ _0\"></span>ermore, c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain related as<span class=\"_ _0\"></span>sets re<span class=\"_ _0\"></span>ceived a<span class=\"_ _0\"></span>s collatera<span class=\"_ _0\"></span>l under the ne<span class=\"_ _0\"></span>tting ar<span class=\"_ _0\"></span>rangem<span class=\"_ _0\"></span>ents will not b<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nised in th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ec\">finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on as the Group d<span class=\"_ _0\"></span>oes not have pe<span class=\"_ _0\"></span>rmissio<span class=\"_ _0\"></span>n to sell or re-p<span class=\"_ _0\"></span>ledge<span class=\"_ _0\"></span>, except in the c<span class=\"_ _0\"></span>ase of default<span class=\"_ _0\"></span>. Details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ollateral </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ed\">arran<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nts in respe<span class=\"_ _0\"></span>ct of thes<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nised as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liabilities a<span class=\"_ _0\"></span>re provided be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w257 h245\" id=\"_35c94a99-556a-4112-890b-2a17a37af3a9\"><tr><td></td><td></td><td></td><td class=\"t m0 xac0 h29 y5d3a ff3 fs5 fc3 sc0 lsbe wsbe\">Related amounts<span class=\"_ _2\"></span> not offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xac1 h29 y5d3b ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>oss an<span class=\"_ _0\"></span>d net </td><td class=\"t m0 xac2 h29 y5d3b ff3 fs5 fc3 sc0 lsbe wsbe\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xac3 h29 y5d3c ff3 fs5 fc3 sc0 ls1 ws1\">am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s of </td><td class=\"t m0 x678 h29 y5d3c ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ins<span class=\"_ _0\"></span>trum<span class=\"_ _0\"></span>ent<span class=\"_ _0\"></span>s and </td><td></td></tr><tr><td></td><td class=\"t m0 xac4 h29 y5d3d ff3 fs5 fc3 sc0 lsa8 wsa3\">recognised </td><td class=\"t m0 x59e h29 y5d3d ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ca<span class=\"_ _0\"></span>sh col<span class=\"_ _0\"></span>late<span class=\"_ _0\"></span>ral </td><td class=\"t m0 x55c h29 y5d3d ff3 fs5 fc3 sc0 lsbe wsbe\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xac5 h29 y5d3e ff3 fs5 fc3 sc0 lsbe wsbe\">financial assets </td><td class=\"t m0 x799 h29 y5d3e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>eived<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x679 h29 y5d3e ff3 fs5 fc3 sc0 ls65 wsc0\">Derivative liabilities</td><td class=\"t m0 x5c0 h29 y5d3e ff3 fs5 fc3 sc0 ls22 ws24\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5d3f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d40 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d08 w539 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa86 y5d08 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac6 y5d08 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">759<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac7 y5d08 w50 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac8 y5d08 w53b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 w53c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac9 y5c49 wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">113<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaca y5c49 w373 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacb y5c49 w4ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacc y5c49 w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w53d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Stock l<span class=\"_ _0\"></span>ending<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacd y5c15 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,15<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xace y5c15 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,15<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacf y5c15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad0 y5c15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w53e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Repurc<span class=\"_ _0\"></span>hase arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad1 y5c07 w27e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">151<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad2 y5c07 w27e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">151<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad3 y5c07 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad4 y5c07 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad5 y5a16 wf9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad6 y5a16 w10e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,1<span class=\"_ _0\"></span>34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x282 y5a16 w436 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">1,55<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad7 y5a16 w540 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs3ef\"><table class=\"s w257 h246\" id=\"_bc677ad0-758e-4bc1-9258-746ce7ffe2dd\"><tr><td></td><td></td><td></td><td class=\"t m0 xac0 h29 y5d41 ff3 fs5 fc3 sc0 lsbe wsbe\">Related amounts<span class=\"_ _2\"></span> not offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xac1 h29 y5d42 ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>oss an<span class=\"_ _0\"></span>d net </td><td class=\"t m0 xac2 h29 y5d42 ff3 fs5 fc3 sc0 lsbe wsbe\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xac3 h29 y5d43 ff3 fs5 fc3 sc0 ls1 ws1\">am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s of </td><td class=\"t m0 x678 h29 y5d43 ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ins<span class=\"_ _0\"></span>trum<span class=\"_ _0\"></span>ent<span class=\"_ _0\"></span>s and </td><td></td></tr><tr><td></td><td class=\"t m0 xac4 h29 y5d44 ff3 fs5 fc3 sc0 lsa8 wsa3\">recognised </td><td class=\"t m0 x59e h29 y5d44 ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ca<span class=\"_ _0\"></span>sh col<span class=\"_ _0\"></span>late<span class=\"_ _0\"></span>ral </td><td class=\"t m0 x55c h29 y5d44 ff3 fs5 fc3 sc0 lsbe wsbe\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x648 h29 y5d45 ff3 fs5 fc3 sc0 ls65 wsc0\">financial liabilities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 h29 y5d45 ff3 fs5 fc3 sc0 lsca wsca\">pledged<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c6 h29 y5d45 ff3 fs5 fc3 sc0 ls22 ws24\">Derivative asset<span class=\"_ _0\"></span>s</td><td class=\"t m0 x5c0 h29 y5d45 ff3 fs5 fc3 sc0 ls22 ws24\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5d46 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d47 ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c15 w539 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad8 y5c15 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,9<span class=\"_ _0\"></span>83<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad9 y5c15 w1ee h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,305<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xada y5c15 w50 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadb y5c15 w4e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">141<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c4b w53c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac9 y5c4b w116 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadc y5c4b w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadd y5c4b w345 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xade y5c4b wc6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad5 y5a16 w355 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadf y5a16 w131 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>,31<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ca y5a16 w436 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,554<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae0 y5a16 w277 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs3f0\"><table class=\"s w541 h247\" id=\"_40d39550-3781-40aa-b8d4-df33fa042fc0\"><tr><td></td><td></td><td></td><td class=\"t m0 xae1 ha y5d48 ff2 fs5 fc3 sc0 ls10c ws10d\">Relat<span class=\"_ _2\"></span>ed amounts no<span class=\"_ _2\"></span>t offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xae2 ha y5d49 ff2 fs5 fc3 sc0 ls1 ws1\">Gro<span class=\"_ _0\"></span>ss and n<span class=\"_ _0\"></span>et </td><td class=\"t m0 x799 ha y5d49 ff2 fs5 fc3 sc0 ls11 ws11\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xae3 ha y5d4a ff2 fs5 fc3 sc0 ls1 ws1\">amo<span class=\"_ _0\"></span>unts of </td><td class=\"t m0 x57d ha y5d4a ff2 fs5 fc3 sc0 ls21 ws23\" colspan=\"2\">instr<span class=\"_ _0\"></span>uments and </td><td></td></tr><tr><td></td><td class=\"t m0 xac3 ha y5d4b ff2 fs5 fc3 sc0 ls10c ws10d\">recognised<span class=\"_ _2\"></span> </td><td class=\"t m0 xae4 ha y5d4b ff2 fs5 fc3 sc0 ls11 ws11\" colspan=\"2\">cash collateral </td><td class=\"t m0 x55c ha y5d4b ff2 fs5 fc3 sc0 ls65 wsc0\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xae5 ha y5d4c ff2 fs5 fc3 sc0 ls65 wsc0\">financial assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 ha y5d4c ff2 fs5 fc3 sc0 ls1ee ws20d\">recei<span class=\"_ _2\"></span>ved<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5d4c ff2 fs5 fc3 sc0 ls22 ws24\">Derivative liabilities</td><td class=\"t m0 xae6 ha y5d4c ff2 fs5 fc3 sc0 ls21 ws23\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5d4d ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d4e ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5afa w539 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae7 y5afa w542 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2,629<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae8 y5afa w249 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">976<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2a4 y5afa wf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,459<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae9 y5afa wc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">194<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c22 w53c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaea y5c22 w1c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaeb y5c22 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaec y5c22 wb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaed y5c22 w25c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">76<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a29 w53d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Stock l<span class=\"_ _0\"></span>ending<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaee y5a29 w543 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">836<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaef y5a29 w544 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf0 y5a29 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf1 y5a29 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a2a w53e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Repurc<span class=\"_ _0\"></span>hase arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf2 y5a2a wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf3 y5a2a wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf4 y5a2a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf5 y5a2a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf6 y5a16 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf7 y5a16 w526 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf8 y5a16 w545 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95f y5a16 w546 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">270<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs3f1\"><table class=\"s w547 h248\" id=\"_d386ab1b-0e7d-4746-8ddb-68451bf9d865\"><tr><td></td><td></td><td></td><td class=\"t m0 xaf9 ha y5d4f ff2 fs5 fc3 sc0 ls10c ws10d\">Relat<span class=\"_ _2\"></span>ed amounts no<span class=\"_ _2\"></span>t offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xafa ha y5d50 ff2 fs5 fc3 sc0 ls1 ws1\">Gro<span class=\"_ _0\"></span>ss and n<span class=\"_ _0\"></span>et </td><td class=\"t m0 x799 ha y5d50 ff2 fs5 fc3 sc0 ls11 ws11\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xae3 ha y5d51 ff2 fs5 fc3 sc0 ls1 ws1\">amo<span class=\"_ _0\"></span>unts of </td><td class=\"t m0 x57d ha y5d51 ff2 fs5 fc3 sc0 ls21 ws23\" colspan=\"2\">instr<span class=\"_ _0\"></span>uments and </td><td></td></tr><tr><td></td><td class=\"t m0 xae3 ha y5d52 ff2 fs5 fc3 sc0 ls10c ws10d\">recognised<span class=\"_ _2\"></span> </td><td class=\"t m0 xafb ha y5d52 ff2 fs5 fc3 sc0 ls11 ws11\" colspan=\"2\">cash collateral </td><td class=\"t m0 xafc ha y5d52 ff2 fs5 fc3 sc0 ls65 wsc0\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xafd ha y5d53 ff2 fs5 fc3 sc0 ls21 ws23\">financi<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span> li<span class=\"_ _0\"></span>abilities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe ha y5d53 ff2 fs5 fc3 sc0 lsa8 wsa3\">pledged<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f ha y5d53 ff2 fs5 fc3 sc0 ls22 ws24\">Derivative assets</td><td class=\"t m0 xaff ha y5d53 ff2 fs5 fc3 sc0 ls21 ws23\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5d54 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb01 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d55 ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a29 w539 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae7 y5a29 w548 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">3,1<span class=\"_ _0\"></span>26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb03 y5a29 w107 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>520<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x724 y5a29 w526 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb04 y5a29 w20c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a2a w53c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaea y5a2a wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb05 y5a2a w199 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb06 y5a2a wb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63d y5a2a w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb07 y5a16 w145 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>342<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb08 y5a16 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,588<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb09 y5a16 w545 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0a y5a16 w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">267<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs3f2\">E4.2 Derivativ<span class=\"_ _2\"></span>e collateral ar<span class=\"_ _2\"></span>rangements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs3f3\">Assets accep<span class=\"_ _2\"></span>ted<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3f4\">It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al to mitigate th<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk related to over<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>e-co<span class=\"_ _0\"></span>unter (\u2018OT<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>\u2019) de<span class=\"_ _0\"></span>rivatives usu<span class=\"_ _0\"></span>ally in the form </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3f5\">of<span class=\"_ gs47\"> </span>cas<span class=\"_ _0\"></span>h or marketable fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3f6\">The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s acce<span class=\"_ _0\"></span>pted as<span class=\"_ gs47\"> </span>coll<span class=\"_ _0\"></span>ateral for OT<span class=\"_ _2\"></span>C deri<span class=\"_ _0\"></span>vatives but not re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3f7\">amo<span class=\"_ _0\"></span>unts to \u00a3377 milli<span class=\"_ _0\"></span>on (2023: \u00a350<span class=\"_ _0\"></span>5 million). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3f8\">The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities from c<span class=\"_ _0\"></span>ash collater<span class=\"_ _0\"></span>al receive<span class=\"_ _0\"></span>d at 31 Dec<span class=\"_ _0\"></span>ember a<span class=\"_ _0\"></span>re set<span class=\"_ gs47\"> </span>out<span class=\"_ gs47\"> </span>be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs3f9\"><table class=\"s w536 h244\" id=\"_4ea3c6c5-c20b-43e1-9bb8-f51c01cf8a78\"><tr><td></td><td class=\"t m0 x1ce ha y5d37 ff2 fs5 fc3 sc0 ls22 ws24\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5d38 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5d38 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5d39 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d39 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a15 w3c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabc y5a15 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">790<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabd y5a15 w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">971<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w537 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabe y5a16 w426 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(<span class=\"_ _0\"></span>790)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabf y5a16 w538 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>971<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3fa\">The m<span class=\"_ _0\"></span>aximum exp<span class=\"_ _0\"></span>osure to credit ri<span class=\"_ _0\"></span>sk in respe<span class=\"_ _0\"></span>ct of O<span class=\"_ _2\"></span>TC derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s is \u00a32,4<span class=\"_ _0\"></span>87 million (2023: \u00a3<span class=\"_ _0\"></span>2,62<span class=\"_ _0\"></span>9 million) of which cre<span class=\"_ _0\"></span>dit risk of \u00a32,<span class=\"_ _0\"></span>29<span class=\"_ _0\"></span>6 million </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3fb\">(2023<span class=\"_ _0\"></span>: \u00a32,4<span class=\"_ _0\"></span>34 million) is mitig<span class=\"_ _0\"></span>ated by use of co<span class=\"_ _0\"></span>llateral arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nts (which are set<span class=\"_ _0\"></span>tled n<span class=\"_ _0\"></span>et after t<span class=\"_ _0\"></span>aking acc<span class=\"_ _0\"></span>ount of any O<span class=\"_ _2\"></span>TC derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e li<span class=\"_ _0\"></span>abilities </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3fc\">owed to th<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3fd\">Credit r<span class=\"_ _0\"></span>isk on exchan<span class=\"_ _0\"></span>ge trade<span class=\"_ _0\"></span>d derivative as<span class=\"_ _0\"></span>sets of \u00a3<span class=\"_ _0\"></span>113 million (2023<span class=\"_ _0\"></span>: \u00a3137 million) is mitig<span class=\"_ _0\"></span>ated throu<span class=\"_ _0\"></span>gh regula<span class=\"_ _0\"></span>r margining an<span class=\"_ _0\"></span>d the protec<span class=\"_ _0\"></span>tion </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3fe\">offere<span class=\"_ _0\"></span>d by the exchan<span class=\"_ _0\"></span>ge.<span class=\"_ _3bd\"> </span></div>Assets pl<span class=\"_ _2\"></span>edged The Gro<span class=\"_ _0\"></span>up pledg<span class=\"_ _0\"></span>es collater<span class=\"_ _0\"></span>al in respe<span class=\"_ _0\"></span>ct of its OT<span class=\"_ _2\"></span>C de<span class=\"_ _0\"></span>rivative liabilitie<span class=\"_ _0\"></span>s. The val<span class=\"_ _0\"></span>ue of asset<span class=\"_ _0\"></span>s pledg<span class=\"_ _0\"></span>ed at 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 in<span class=\"_ gs47\"> </span>re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f OTC deriva<span class=\"_ _0\"></span>tive liabilities of \u00a33<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>83 million (2<span class=\"_ _0\"></span>023: \u00a33<span class=\"_ _0\"></span>,126 million) amo<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to \u00a32,717 millio<span class=\"_ _0\"></span>n (2023: \u00a31<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>936 million).<span class=\"_ _3bd\"> </span>E4.3 Stock lending<span class=\"_ _2\"></span> collateral arrangements<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up lends lis<span class=\"_ _0\"></span>ted finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets held in i<span class=\"_ _0\"></span>ts investm<span class=\"_ _0\"></span>ent por<span class=\"_ _0\"></span>tfolio to othe<span class=\"_ _0\"></span>r institut<span class=\"_ _0\"></span>ions. The Gro<span class=\"_ _0\"></span>up conduc<span class=\"_ _0\"></span>ts sto<span class=\"_ _0\"></span>ck lendin<span class=\"_ _0\"></span>g only with well-<span class=\"_ _0\"></span>estab<span class=\"_ _0\"></span>lished<span class=\"_ _0\"></span>, reputabl<span class=\"_ _0\"></span>e institut<span class=\"_ _0\"></span>ions in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th esta<span class=\"_ _0\"></span>blished m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onventions<span class=\"_ _0\"></span>. The finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets do not qu<span class=\"_ _0\"></span>alify for de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nition as the G<span class=\"_ _0\"></span>roup retains all th<span class=\"_ _0\"></span>e risks and rewa<span class=\"_ _0\"></span>rds of the trans<span class=\"_ _0\"></span>ferred as<span class=\"_ _0\"></span>sets exce<span class=\"_ _0\"></span>pt for the voting right<span class=\"_ _0\"></span>s. It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al in stock l<span class=\"_ _0\"></span>ending tran<span class=\"_ _0\"></span>sact<span class=\"_ _0\"></span>ions, us<span class=\"_ _0\"></span>ually in the form of c<span class=\"_ _0\"></span>ash or marketab<span class=\"_ _0\"></span>le financia<span class=\"_ _0\"></span>l instrum<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s acce<span class=\"_ _0\"></span>pted as suc<span class=\"_ _0\"></span>h collateral b<span class=\"_ _0\"></span>ut not reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition amount<span class=\"_ _0\"></span>s to \u00a31<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>4 million (2023<span class=\"_ _0\"></span>: \u00a3897 million).<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>aximum exp<span class=\"_ _0\"></span>osure to credit ri<span class=\"_ _0\"></span>sk in respe<span class=\"_ _0\"></span>ct of stock l<span class=\"_ _0\"></span>ending tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ions is \u00a31<span class=\"_ _0\"></span>,156 million (2<span class=\"_ _0\"></span>023: \u00a383<span class=\"_ _0\"></span>6 million) of which cre<span class=\"_ _0\"></span>dit risk of<span class=\"_ gs47\"> </span>\u00a31<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>56 million (20<span class=\"_ _0\"></span>23: \u00a383<span class=\"_ _0\"></span>3 million) is mitigate<span class=\"_ _0\"></span>d through th<span class=\"_ _0\"></span>e use of collater<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>E4.4 Other collateral<span class=\"_ _2\"></span> arrangements<span class=\"_ _3bd\"> </span>At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>ad entered into rever<span class=\"_ _0\"></span>se repurc<span class=\"_ _0\"></span>hase tran<span class=\"_ _0\"></span>sacti<span class=\"_ _0\"></span>ons under whi<span class=\"_ _0\"></span>ch it purcha<span class=\"_ _0\"></span>sed se<span class=\"_ _0\"></span>curities an<span class=\"_ _0\"></span>d had taken on th<span class=\"_ _0\"></span>e oblig<span class=\"_ _0\"></span>ation to resell th<span class=\"_ _0\"></span>e secur<span class=\"_ _0\"></span>ities. Th<span class=\"_ _0\"></span>e fair value of the fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>ccepted a<span class=\"_ _0\"></span>s collatera<span class=\"_ _0\"></span>l in respec<span class=\"_ _0\"></span>t of these tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>, but not rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in<span class=\"_ gs47\"> </span>the s<span class=\"_ _0\"></span>tatement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position<span class=\"_ _0\"></span>, is \u00a3151 million (2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>00 million).<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>aximum exp<span class=\"_ _0\"></span>osure to credit ri<span class=\"_ _0\"></span>sk in respe<span class=\"_ _0\"></span>ct of reverse re<span class=\"_ _0\"></span>purchas<span class=\"_ _0\"></span>e transa<span class=\"_ _0\"></span>ctions is \u00a3<span class=\"_ _0\"></span>151 million (2023<span class=\"_ _0\"></span>: \u00a310<span class=\"_ _0\"></span>0 million) of which cre<span class=\"_ _0\"></span>dit risk of \u00a31<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>1<span class=\"_ gs47\"> </span>milli<span class=\"_ _0\"></span>on (2023: \u00a31<span class=\"_ _0\"></span>00 million) is m<span class=\"_ _0\"></span>itigated th<span class=\"_ _0\"></span>rough the us<span class=\"_ _0\"></span>e of collateral a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Det<span class=\"_ _0\"></span>ails of collatera<span class=\"_ _0\"></span>l receive<span class=\"_ _0\"></span>d to mitigate the c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ty ri<span class=\"_ _0\"></span>sk arising from t<span class=\"_ _0\"></span>he Group\u2019s reinsuran<span class=\"_ _0\"></span>ce trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s is given in note F1<span class=\"_ _0\"></span>0.<span class=\"_ _3bd\"> </span>Coll<span class=\"_ _0\"></span>ateral has al<span class=\"_ _0\"></span>so bee<span class=\"_ _0\"></span>n pledge<span class=\"_ _0\"></span>d and cha<span class=\"_ _0\"></span>rges have be<span class=\"_ _0\"></span>en grante<span class=\"_ _0\"></span>d in respec<span class=\"_ _0\"></span>t of cer<span class=\"_ _0\"></span>tain Group b<span class=\"_ _0\"></span>orrowings<span class=\"_ _0\"></span>. The deta<span class=\"_ _0\"></span>ils of these arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents are<span class=\"_ gs47\"> </span>se<span class=\"_ _0\"></span>t out in n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te E5<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>E5. B<span class=\"_ _0\"></span>orrowings<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up class<span class=\"_ _0\"></span>ifies the ma<span class=\"_ _0\"></span>jorit<span class=\"_ _0\"></span>y of its interes<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>earing b<span class=\"_ _0\"></span>orrowings a<span class=\"_ _0\"></span>s financial lia<span class=\"_ _0\"></span>bilities ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cost a<span class=\"_ _0\"></span>nd these a<span class=\"_ _0\"></span>re recog<span class=\"_ _0\"></span>nised initiall<span class=\"_ _0\"></span>y at fair value les<span class=\"_ _0\"></span>s any direct<span class=\"_ _0\"></span>ly attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s. Th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween initial c<span class=\"_ _0\"></span>ost an<span class=\"_ _0\"></span>d the redempt<span class=\"_ _0\"></span>ion value is amo<span class=\"_ _0\"></span>rtis<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh the cons<span class=\"_ _0\"></span>olidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement over th<span class=\"_ _0\"></span>e period of the b<span class=\"_ _0\"></span>orrowing usin<span class=\"_ _0\"></span>g the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Ce<span class=\"_ _0\"></span>rtain b<span class=\"_ _0\"></span>orrowings are d<span class=\"_ _0\"></span>esignate<span class=\"_ _0\"></span>d upon initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion at fair value th<span class=\"_ _0\"></span>rough profit or lo<span class=\"_ _0\"></span>ss and me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value where d<span class=\"_ _0\"></span>oing so provide<span class=\"_ _0\"></span>s more m<span class=\"_ _0\"></span>eaningf<span class=\"_ _0\"></span>ul in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation due to the re<span class=\"_ _0\"></span>asons s<span class=\"_ _0\"></span>tated in th<span class=\"_ _0\"></span>e financial li<span class=\"_ _0\"></span>abilities ac<span class=\"_ _0\"></span>counting po<span class=\"_ _0\"></span>licy (see n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te E1<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s relating to borrow<span class=\"_ _0\"></span>ings desig<span class=\"_ _0\"></span>nated upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition at fa<span class=\"_ _0\"></span>ir value throug<span class=\"_ _0\"></span>h profit or loss a<span class=\"_ _0\"></span>re expens<span class=\"_ _0\"></span>ed as incur<span class=\"_ _0\"></span>red. Borrow<span class=\"_ _0\"></span>ings are cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s either po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er or shareh<span class=\"_ _0\"></span>older bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _0\"></span>. P<span class=\"_ _2\"></span>oli<span class=\"_ _0\"></span>cyholde<span class=\"_ _0\"></span>r borrowing<span class=\"_ _0\"></span>s are those b<span class=\"_ _0\"></span>orrowings wh<span class=\"_ _0\"></span>ere there is ei<span class=\"_ _0\"></span>ther no or limite<span class=\"_ _0\"></span>d shareh<span class=\"_ _0\"></span>older exp<span class=\"_ _0\"></span>osure, for examp<span class=\"_ _0\"></span>le, borrowin<span class=\"_ _0\"></span>gs at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e Group\u2019s with-profits o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>E5<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 A<span class=\"_ _0\"></span>nalys<span class=\"_ _0\"></span>is of borr<span class=\"_ _0\"></span>owings<span class=\"_ _3bd\"> </span><table class=\"s w54a h249\" id=\"_c3c12c21-617e-49f0-9ada-77b58c4b1b81\"><tr><td></td><td class=\"c n xb0b y5d56 w54b h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xb0c y5d56 w54c h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x2fe h29 y5d57 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb0d ha y5d57 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x75e h29 y5d57 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ef ha y5d57 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x9e3 h29 y5d58 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48d ha y5d58 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a h29 y5d58 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d58 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5a07 w54d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>00 million mul<span class=\"_ _0\"></span>ti-curren<span class=\"_ _0\"></span>cy revolving cre<span class=\"_ _0\"></span>dit facilit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0e y5a07 w25d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0f y5a07 w4d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb10 y5a07 w54e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb11 y5a07 w4d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d59 w54f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y reversion<span class=\"_ _0\"></span>s loan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb12 y5d59 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb13 hc y5d5a ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></td><td class=\"c n x771 y5d59 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb14 y5d59 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5b w550 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er borrowing<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb15 y5d5b w277 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb16 y5d5b w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb17 y5d5b w540 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb18 y5d5b w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5c w551 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb19 y5d5c w1c1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1a y5d5c w552 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1b y5d5c w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">199<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1c y5d5c w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">202<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd4 w553 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1d y5bd4 w179 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1e y5bd4 w554 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">391<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1f y5bd4 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">399<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb20 y5bd4 w1c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5d w555 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb21 y5d5d w307 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb22 y5d5d w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">430<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb23 y5d5d w22e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">423<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb24 y5d5d w4da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5e w556 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent Conver<span class=\"_ _0\"></span>tible Tie<span class=\"_ _0\"></span>r 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb25 y5d5e w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">199<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb26 y5d5e w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">5<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb27 y5d5e w557 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb28 y5d5e w558 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">56<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5af9 w559 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb29 y5af9 w12a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2a y5af9 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2b y5af9 w261 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">485<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2c y5af9 w55a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">476<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5f w55b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2d y5d5f w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2e y5d5f w4b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2f y5d5f waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">275<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb30 y5d5f w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">262<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a68 w55c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb31 y5a68 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">529<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb32 y5a68 w55d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb33 y5a68 w55e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb34 y5a68 w12b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a69 w55f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb35 y5a69 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb36 y5a69 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb37 y5a69 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb38 y5a69 w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">239<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a6a w560 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb39 y5a6a w249 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">252<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3a y5a6a w320 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">253<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3b y5a6a w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3c y5a6a w320 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">250<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a6b w561 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable Tie<span class=\"_ _0\"></span>r 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3d y5a6b w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">3<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3e y5a6b w562 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3f y5a6b wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">367<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb40 y5a6b w4c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a27 w563 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual C<span class=\"_ _0\"></span>ontingent C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible Tier 1 n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb41 y5a27 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb42 y5a27 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb43 y5a27 w307 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb44 y5a27 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd9 w564 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal sh<span class=\"_ _0\"></span>areholde<span class=\"_ _0\"></span>r subordinate<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb45 y5bd9 w565 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>501<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb46 y5bd9 we4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb47 y5bd9 w2b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,509<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb48 y5bd9 w132 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">3,6<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w566 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal borr<span class=\"_ _2\"></span>owings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb49 y5b24 w567 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">3,6<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4a y5b24 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>892<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4b y5b24 w144 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,63<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4c y5b24 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w568 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt due for set<span class=\"_ _0\"></span>tlement af<span class=\"_ _0\"></span>ter 12 month<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4d y5a16 w569 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">3,3<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4e y5a16 w1a3 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,8<span class=\"_ _0\"></span>02<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr></table>On 1<span class=\"_ _0\"></span>8 November 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group rep<span class=\"_ _0\"></span>laced it<span class=\"_ _0\"></span>s \u00a31<span class=\"_ _0\"></span>.75 billion unse<span class=\"_ _0\"></span>cured revolvin<span class=\"_ _0\"></span>g credit fac<span class=\"_ _0\"></span>ility with a n<span class=\"_ _0\"></span>ew \u00a31.<span class=\"_ _0\"></span>5 billion uns<span class=\"_ _0\"></span>ecured revo<span class=\"_ _0\"></span>lving credit<span class=\"_ _3bd\"> </span> facili<span class=\"_ _0\"></span>ty (the \u2018revolving fa<span class=\"_ _0\"></span>cility<span class=\"_ _0\"></span>\u2019), matur<span class=\"_ _0\"></span>ing in Novembe<span class=\"_ _0\"></span>r 2029. Th<span class=\"_ _0\"></span>e new facilit<span class=\"_ _0\"></span>y remain<span class=\"_ _0\"></span>s undrawn as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024.<span class=\"_ _3bd\"> </span>Polic<span class=\"_ _2\"></span>yholder borrowings<span class=\"_ _3bd\"> </span>Patria Private Equi<span class=\"_ _0\"></span>ty T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t plc (\u2018<span class=\"_ _0\"></span>PPET<span class=\"_ _0\"></span>\u2019) (formerl<span class=\"_ _0\"></span>y known as abrdn Pri<span class=\"_ _0\"></span>vate Equity O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t plc) has in pl<span class=\"_ _0\"></span>ace a syndi<span class=\"_ _0\"></span>cated mult<span class=\"_ _0\"></span>i-currenc<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span> revolving c<span class=\"_ _0\"></span>redit facili<span class=\"_ _0\"></span>ty, of which \u00a39<span class=\"_ _0\"></span>0 million (2023: \u00a3<span class=\"_ _0\"></span>90 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>) h<span class=\"_ _0\"></span>ad bee<span class=\"_ _0\"></span>n drawn down as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024. The f<span class=\"_ _0\"></span>acilit<span class=\"_ _0\"></span>y term maturit<span class=\"_ _0\"></span>y is<span class=\"_ _3bd\"> </span> De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2025 and intere<span class=\"_ _0\"></span>st acc<span class=\"_ _0\"></span>rues at a marg<span class=\"_ _0\"></span>in ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the referenc<span class=\"_ _0\"></span>e rate of the curren<span class=\"_ _0\"></span>cy drawn.<span class=\"_ _3bd\"> </span> The Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Revers<span class=\"_ _0\"></span>ions loan from S<span class=\"_ _0\"></span>antand<span class=\"_ _0\"></span>er UK plc (<span class=\"_ _0\"></span>\u2018Sa<span class=\"_ _0\"></span>ntander<span class=\"_ _0\"></span>\u2019) was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts at fair valu<span class=\"_ _0\"></span>e. It relates<span class=\"_ _3bd\"> </span> to<span class=\"_ gs47\"> </span>the sa<span class=\"_ _0\"></span>le of Ex<span class=\"_ _0\"></span>tra-In<span class=\"_ _0\"></span>come Plan p<span class=\"_ _0\"></span>olicies th<span class=\"_ _0\"></span>at Santan<span class=\"_ _0\"></span>der financ<span class=\"_ _0\"></span>es to the value of th<span class=\"_ _0\"></span>e asso<span class=\"_ _0\"></span>ciated prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y reversio<span class=\"_ _0\"></span>ns. As p<span class=\"_ _0\"></span>art of the ar<span class=\"_ _0\"></span>rangem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span> Sant<span class=\"_ _0\"></span>ander re<span class=\"_ _0\"></span>ceives an am<span class=\"_ _0\"></span>ount calc<span class=\"_ _0\"></span>ulated by referen<span class=\"_ _0\"></span>ce to the moveme<span class=\"_ _0\"></span>nt in the Halifa<span class=\"_ _0\"></span>x House Pri<span class=\"_ _0\"></span>ce Index an<span class=\"_ _0\"></span>d the Group is re<span class=\"_ _0\"></span>quired to inde<span class=\"_ _0\"></span>mnify<span class=\"_ _3bd\"> </span> Sant<span class=\"_ _0\"></span>ander a<span class=\"_ _0\"></span>gainst p<span class=\"_ _0\"></span>rofits or los<span class=\"_ _0\"></span>ses arisin<span class=\"_ _0\"></span>g from mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y or surrend<span class=\"_ _0\"></span>er experie<span class=\"_ _0\"></span>nce which dif<span class=\"_ _0\"></span>fers fro<span class=\"_ _0\"></span>m the basis us<span class=\"_ _0\"></span>ed to calc<span class=\"_ _0\"></span>ulate the revers<span class=\"_ _0\"></span>ion<span class=\"_ _3bd\"> </span> amo<span class=\"_ _0\"></span>unt. During 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, repayment<span class=\"_ _0\"></span>s totalling \u00a31<span class=\"_ _0\"></span>6 million were m<span class=\"_ _0\"></span>ade (2023: \u00a3<span class=\"_ _0\"></span>21 million). Note G4 c<span class=\"_ _0\"></span>ontains det<span class=\"_ _0\"></span>ails of the ass<span class=\"_ _0\"></span>ets that s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t this loan<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> Shareholder subordinated borrow<span class=\"_ _2\"></span>ings<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal feat<span class=\"_ _0\"></span>ures of the Group\u2019s subordin<span class=\"_ _0\"></span>ated borrowin<span class=\"_ _0\"></span>gs are deta<span class=\"_ _0\"></span>iled in the ta<span class=\"_ _0\"></span>ble below.<span class=\"_ _3bd\"> </span><table class=\"s w56a h24a\" id=\"_6c5b0bbc-b4f2-4839-a9c1-5a0775ee8cec\"><tr><td class=\"c n x1d4 y5d60 w56b h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4f y5d60 w56c h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Nominal amount<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb50 y5d60 w56d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls65 wsc0\">Co<span class=\"_ _0\"></span>upon<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb51 y5d60 w56e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Maturit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5d61 w551 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes</div><div class=\"t m0 xb52 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb54 y5d61 w56f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">\u00a3<span class=\"_ _0\"></span>19<span class=\"_ _0\"></span>7m</div><div class=\"t m0 xb53 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb55 y5d61 w570 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">6.625%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb56 y5d61 w571 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">18 Dec<span class=\"_ _0\"></span>ember 202<span class=\"_ _2\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5d62 w572 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes</div><div class=\"t m0 xb57 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb58 y5d62 w573 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws186\">US $50<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb59 y5d62 w574 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">5.<span class=\"_ _0\"></span>375%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5a y5d62 w575 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">6 J<span class=\"_ _0\"></span>uly 2<span class=\"_ _2\"></span>027<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5d63 w576 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes</div><div class=\"t m0 xb5b h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb54 y5d63 w577 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">\u20ac50<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5c y5d63 w578 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.<span class=\"_ _0\"></span>3<span class=\"_ _2\"></span>75%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5d y5d63 w579 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">2<span class=\"_ _2\"></span>4 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2<span class=\"_ _2\"></span>029<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d64 w556 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent Conver<span class=\"_ _0\"></span>tible Tie<span class=\"_ _0\"></span>r 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5e y5d64 w57a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws88\">U<span class=\"_ _0\"></span>S<span class=\"_ _0\"></span> $<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></div></td><td class=\"c x7f1 y5d64 w57b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">5.625%</div><div class=\"t m0 xb5f h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb60 hc y5d65 ff2 fs6 fc3 sc0 ls1dd ws1f7\">Per<span class=\"_ _0\"></span>pet<span class=\"_ _0\"></span>ual<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb61 hc y5d66 ff2 fs6 fc3 sc0 ls17f ws1\">2<span class=\"_ _2\"></span>8 Apr<span class=\"_ _0\"></span>il 2<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>1 (with option<span class=\"_ _0\"></span>al </td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb62 hc y5d67 ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption from </td></tr><tr><td class=\"c n x1d4 y5d68 w559 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb63 y5d68 w57c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">\u00a350<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb64 y5d68 w57d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">5.625%<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb65 hc y5d69 ff2 fs6 fc3 sc0 ls17f ws192\">2<span class=\"_ _2\"></span>8<span class=\"_ gs47\"> </span>Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y<span class=\"_ gs47\"> </span>2<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>1)<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x679 hc y5d6a ff2 fs6 fc3 sc0 ls17f ws1\">4 Se<span class=\"_ _0\"></span>ptember 203<span class=\"_ _4\"></span>1 (with<span class=\"_ gs47\"> </span>o<span class=\"_ _0\"></span>ptional </td></tr><tr><td></td><td></td><td class=\"t m0 x578 hc y5d6b ff2 fs6 fc3 sc0 ls17f ws1\">4.<span class=\"_ _4\"></span>75<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span>% up to reset date </td><td class=\"t m0 x679 hc y5d6c ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption bet<span class=\"_ _0\"></span>ween 4 J<span class=\"_ _0\"></span>une and </td></tr><tr><td class=\"c n x1d4 y5d6d w55b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e Tier 2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb67 y5d6d w57e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws11\">US $3<span class=\"_ _4\"></span>50m</div><div class=\"t m0 xb66 h11 y5d6e ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x67c hc y5d6f ff2 fs6 fc3 sc0 ls17f ws1\">of<span class=\"_ gs47\"> </span>4<span class=\"_ gs47\"> </span>Septe<span class=\"_ _0\"></span>mber 202<span class=\"_ _2\"></span>6<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb68 hc y5d70 ff2 fs6 fc3 sc0 ls17f ws1\">4 Se<span class=\"_ _0\"></span>ptember 202<span class=\"_ _2\"></span>6)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5d71 w57f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note</div><div class=\"t m0 xb69 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6a y5d72 w580 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">\u00a350<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6b y5d72 w581 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">5.8<span class=\"_ _0\"></span>67%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6c y5d72 w582 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">13 Jun<span class=\"_ _0\"></span>e 2<span class=\"_ _2\"></span>029<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb6d hc y5d73 ff2 fs6 fc3 sc0 ls17f ws1\">13 June 202<span class=\"_ _2\"></span>9 (with opt<span class=\"_ _0\"></span>ion to call </td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb61 hc y5d74 ff2 fs6 fc3 sc0 ls17f ws1\">on 13 June 202<span class=\"_ _4\"></span>4 w<span class=\"_ _0\"></span>hich the </td></tr><tr><td class=\"c x1d4 y5d75 w583 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able Tier 2 n<span class=\"_ _0\"></span>otes</div><div class=\"t m0 xb6e h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb70 y5d75 w584 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">\u2013</div><div class=\"t m0 xb6f h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xae1 hc y5d76 ff2 fs6 fc3 sc0 ls1ba ws1cd\">5<span class=\"_ _0\"></span>.76<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x737 hc y5d77 ff2 fs6 fc3 sc0 ls17b wsc8\">Co<span class=\"_ _0\"></span>mpany e<span class=\"_ _0\"></span>xercis<span class=\"_ _0\"></span>ed)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5d78 w585 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes</div><div class=\"t m0 xb71 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6a y5d78 w586 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">\u00a3<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb72 y5d78 w587 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">4.016<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb73 y5d78 w588 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">1<span class=\"_ _2\"></span>3 J<span class=\"_ _0\"></span>une 20<span class=\"_ _2\"></span>26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb74 hc y5d79 ff2 fs6 fc3 sc0 ls17f ws1\">6 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2<span class=\"_ _2\"></span>053 (with optiona<span class=\"_ _0\"></span>l </td></tr><tr><td></td><td></td><td class=\"t m0 xafa hc y5d7a ff2 fs6 fc3 sc0 ls17f ws1\">7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>750% up to reset da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e of </td><td class=\"t m0 x679 hc y5d7b ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption bet<span class=\"_ _0\"></span>ween 6 J<span class=\"_ _0\"></span>une and </td></tr><tr><td class=\"c n x1d4 y5d7c w561 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable Tie<span class=\"_ _0\"></span>r 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb75 y5d7c w32a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">\u00a335<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb77 y5d7c w589 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">6<span class=\"_ gs47\"> </span>De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2<span class=\"_ _2\"></span>033</div><div class=\"t m0 xb76 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb78 hc y5d7d ff2 fs6 fc3 sc0 ls17f ws1\">6 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2<span class=\"_ _2\"></span>033<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x7a7 hc y5d7e ff2 fs6 fc3 sc0 ls56 wsd\">Perpetual (with optional </td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x55b hc y5d7f ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption bet<span class=\"_ _0\"></span>ween </td></tr><tr><td></td><td></td><td class=\"t m0 xb79 hc y5d80 ff2 fs6 fc3 sc0 ls17f ws1\">8.<span class=\"_ _2\"></span>50<span class=\"_ _0\"></span>0% up to first re<span class=\"_ _0\"></span>set date </td><td class=\"t m0 x729 hc y5d81 ff2 fs6 fc3 sc0 ls17f ws1\">12<span class=\"_ gs47\"> </span>Dec<span class=\"_ _0\"></span>ember 2029 and </td></tr><tr><td class=\"c n x1d4 y5a16 w563 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual C<span class=\"_ _0\"></span>ontingent C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible Tier 1 n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb7a y5a16 w573 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws186\">US $50<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c x866 y5a16 w58a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">of 12 June 2030</div><div class=\"t m0 xb7b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x245 hc y5d82 ff2 fs6 fc3 sc0 ls17f ws192\">12<span class=\"_ gs47\"> </span>June<span class=\"_ gs47\"> </span>2030)<span class=\"_ _3bd\"> </span></td></tr></table>3<span class=\"_ _3bd\"> </span>1 <span class=\"_ _9\"> </span>The C<span class=\"_ _0\"></span>ompa<span class=\"_ _0\"></span>ny was sub<span class=\"_ _0\"></span>stit<span class=\"_ _0\"></span>uted a<span class=\"_ _0\"></span>s issu<span class=\"_ _0\"></span>er on 12 D<span class=\"_ _0\"></span>ece<span class=\"_ _0\"></span>mber 2<span class=\"_ _0\"></span>018<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>O<span class=\"_ _0\"></span>n 7 Dece<span class=\"_ _0\"></span>mbe<span class=\"_ _0\"></span>r 2023<span class=\"_ _0\"></span>, the C<span class=\"_ _0\"></span>ompany r<span class=\"_ _0\"></span>epurc<span class=\"_ _0\"></span>has<span class=\"_ _0\"></span>ed \u00a323<span class=\"_ _0\"></span>1 millio<span class=\"_ _0\"></span>n of the or<span class=\"_ _0\"></span>igina<span class=\"_ _0\"></span>l \u00a3<span class=\"_ _2\"></span>42<span class=\"_ _0\"></span>8m pri<span class=\"_ _0\"></span>ncipa<span class=\"_ _0\"></span>l amou<span class=\"_ _0\"></span>nt of the n<span class=\"_ _0\"></span>otes via a t<span class=\"_ _0\"></span>ende<span class=\"_ _0\"></span>r offer.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>On 1<span class=\"_ _0\"></span>8 Jun<span class=\"_ _0\"></span>e 2024, th<span class=\"_ _0\"></span>e Comp<span class=\"_ _0\"></span>any rep<span class=\"_ _0\"></span>urch<span class=\"_ _0\"></span>ased U<span class=\"_ _0\"></span>S $50<span class=\"_ _0\"></span>0 milli<span class=\"_ _0\"></span>on of the o<span class=\"_ _0\"></span>rigin<span class=\"_ _0\"></span>al $75<span class=\"_ _0\"></span>0m prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l amoun<span class=\"_ _0\"></span>t of the not<span class=\"_ _0\"></span>es via a te<span class=\"_ _0\"></span>nder of<span class=\"_ _0\"></span>fer.<span class=\"_ _3bd\"> </span> 4  I<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st is ca<span class=\"_ _0\"></span>nce<span class=\"_ _0\"></span>llabl<span class=\"_ _0\"></span>e at the ab<span class=\"_ _0\"></span>solut<span class=\"_ _0\"></span>e discr<span class=\"_ _0\"></span>etion of t<span class=\"_ _0\"></span>he Com<span class=\"_ _0\"></span>pany.<span class=\"_ _3bd\"> </span>5 <span class=\"_ _1a\"> </span>On 7 D<span class=\"_ _0\"></span>ece<span class=\"_ _0\"></span>mbe<span class=\"_ _0\"></span>r 2023<span class=\"_ _0\"></span>, the Co<span class=\"_ _0\"></span>mpany r<span class=\"_ _0\"></span>epurc<span class=\"_ _0\"></span>hase<span class=\"_ _0\"></span>d US $1<span class=\"_ _0\"></span>50 mil<span class=\"_ _0\"></span>lion of th<span class=\"_ _0\"></span>e origi<span class=\"_ _0\"></span>nal $<span class=\"_ _0\"></span>500<span class=\"_ _0\"></span>m princ<span class=\"_ _0\"></span>ipal am<span class=\"_ _0\"></span>ount of t<span class=\"_ _0\"></span>he note<span class=\"_ _0\"></span>s via a ten<span class=\"_ _0\"></span>der of<span class=\"_ _0\"></span>fer.<span class=\"_ _3bd\"> </span>6  Th<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany was s<span class=\"_ _0\"></span>ubst<span class=\"_ _0\"></span>itute<span class=\"_ _0\"></span>d as is<span class=\"_ _0\"></span>suer o<span class=\"_ _0\"></span>n 22 July 2<span class=\"_ _0\"></span>020 on a<span class=\"_ _0\"></span>cquis<span class=\"_ _0\"></span>ition o<span class=\"_ _0\"></span>f ReAs<span class=\"_ _0\"></span>sure Gro<span class=\"_ _0\"></span>up plc a<span class=\"_ _0\"></span>nd the n<span class=\"_ _0\"></span>otes wer<span class=\"_ _0\"></span>e reco<span class=\"_ _0\"></span>gnis<span class=\"_ _0\"></span>ed at fa<span class=\"_ _0\"></span>ir value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>7 <span class=\"_ _c2\"> </span>O<span class=\"_ _0\"></span>n 13 Jun<span class=\"_ _0\"></span>e 2024, th<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany re<span class=\"_ _0\"></span>deem<span class=\"_ _0\"></span>ed the \u00a3<span class=\"_ _0\"></span>250 m<span class=\"_ _0\"></span>illion n<span class=\"_ _0\"></span>otes at th<span class=\"_ _0\"></span>eir pr<span class=\"_ _0\"></span>incip<span class=\"_ _0\"></span>al amo<span class=\"_ _0\"></span>unt tog<span class=\"_ _0\"></span>ether w<span class=\"_ _0\"></span>ith ac<span class=\"_ _0\"></span>crue<span class=\"_ _0\"></span>d and unp<span class=\"_ _0\"></span>aid int<span class=\"_ _0\"></span>eres<span class=\"_ _0\"></span>t to the re<span class=\"_ _0\"></span>dempt<span class=\"_ _0\"></span>ion date<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>8  I<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st is def<span class=\"_ _0\"></span>errab<span class=\"_ _0\"></span>le at the d<span class=\"_ _0\"></span>iscre<span class=\"_ _0\"></span>tion of t<span class=\"_ _0\"></span>he Com<span class=\"_ _0\"></span>pany<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs41f\">E5<span class=\"_ _0\"></span>.2 R<span class=\"_ _0\"></span>econc<span class=\"_ _0\"></span>iliat<span class=\"_ _0\"></span>ion of liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s arisin<span class=\"_ _0\"></span>g from fin<span class=\"_ _0\"></span>anci<span class=\"_ _0\"></span>ng act<span class=\"_ _0\"></span>ivitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs420\">The t<span class=\"_ _0\"></span>able below d<span class=\"_ _0\"></span>etails cha<span class=\"_ _0\"></span>nges in the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s liab<span class=\"_ _0\"></span>ilities arisin<span class=\"_ _0\"></span>g from financin<span class=\"_ _0\"></span>g activiti<span class=\"_ _0\"></span>es, inc<span class=\"_ _0\"></span>luding both c<span class=\"_ _0\"></span>ash and no<span class=\"_ _0\"></span>n-cas<span class=\"_ _0\"></span>h chang<span class=\"_ _0\"></span>es (<span class=\"_ _2\"></span>w<span class=\"_ _0\"></span>ith the<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs421\">excepti<span class=\"_ _0\"></span>on of lease liab<span class=\"_ _0\"></span>ilities, w<span class=\"_ _0\"></span>hich have bee<span class=\"_ _0\"></span>n include<span class=\"_ _0\"></span>d in note G9). Liabiliti<span class=\"_ _0\"></span>es arising fro<span class=\"_ _0\"></span>m financing a<span class=\"_ _0\"></span>ctivitie<span class=\"_ _0\"></span>s are those for whi<span class=\"_ _0\"></span>ch cash fl<span class=\"_ _0\"></span>ows were,<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs422\">or<span class=\"_ gs47\"> </span>fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s will be, cla<span class=\"_ _0\"></span>ssified in th<span class=\"_ _0\"></span>e Group\u2019s consolid<span class=\"_ _0\"></span>ated sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment of cas<span class=\"_ _0\"></span>h flows as ca<span class=\"_ _0\"></span>sh flows from finan<span class=\"_ _0\"></span>cing ac<span class=\"_ _0\"></span>tivities<span class=\"_ _0\"></span>. </div><div class=\"gs423\"><table class=\"s w58b h24b\" id=\"_69e24061-1094-453a-9f71-402872d21bae\"><tr><td></td><td></td><td></td><td class=\"c n xb7c y5d83 w58c h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Cash movements<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xb7d y5d83 w58d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11a ws11c\">Non-cash mo<span class=\"_ _2\"></span>vements<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xb7e h29 y5d84 ff3 fs5 fc3 sc0 ls1 ws1\">New </td><td></td><td></td><td class=\"t m0 x6bd h29 y5d84 ff3 fs5 fc3 sc0 ls1 ws1\">Mov<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t in </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xb7f h29 y5d85 ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x936 h29 y5d85 ff3 fs5 fc3 sc0 ls1 ws1\">bo<span class=\"_ _0\"></span>rrowi<span class=\"_ _0\"></span>ngs<span class=\"_ _0\"></span>, net </td><td></td><td class=\"t m0 x9e3 h29 y5d85 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>s in fair </td><td class=\"t m0 x9de h29 y5d85 ff3 fs5 fc3 sc0 ls8d ws86\">foreign </td><td class=\"t m0 x497 h29 y5d85 ff3 fs5 fc3 sc0 ls1 ws1\">Ot<span class=\"_ _0\"></span>her </td><td class=\"t m0 xb80 h29 y5d86 ff3 fs5 fc3 sc0 ls1 ws1\">At 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td></tr><tr><td></td><td class=\"t m0 xb81 h29 y5d87 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2fc h29 y5d87 ff3 fs5 fc3 sc0 ls1 ws1\">of co<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2fd h29 y5d87 ff3 fs5 fc3 sc0 lsbe wsbe\">Repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa12 h29 y5d87 ff3 fs5 fc3 sc0 ls8d ws86\">value<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f6 h29 y5d87 ff3 fs5 fc3 sc0 ls21 ws23\">exchan<span class=\"_ _0\"></span>ge<span class=\"_ _3bd\"> </span></td><td class=\"c xb83 y5d88 w58e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsc4 wsc7\">movem<span class=\"_ _0\"></span>ents</div><div class=\"t m0 xb82 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x2ef h29 y5d89 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2fb h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x499 h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5d8b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d8b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5d8c ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>00 million mul<span class=\"_ _0\"></span>ti-curren<span class=\"_ _0\"></span>cy revolving </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5d8d w58f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">credi<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>facilit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb84 y5d8d w590 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb85 y5d8d w591 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb86 y5d8d w592 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(80<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb87 y5d8d we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb88 y5d8d w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb89 y5d8d w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8a y5d8d w25d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d8e w593 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Propert<span class=\"_ _0\"></span>y Reversions loan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8b y5d8e w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8c y5d8e w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8d y5d8e w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8e y5d8e wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8f y5d8e w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb90 y5d8e we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb91 y5d8e w3e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d8f w551 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb92 y5d8f w1c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb93 y5d8f w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb94 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb95 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb96 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb97 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb98 y5d8f w24e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d90 w553 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb99 y5d90 w594 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">391<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9a y5d90 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9b y5d90 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9c y5d90 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9d y5d90 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9e y5d90 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9f y5d90 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">399<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d91 w555 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba0 y5d91 w117 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">430<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba1 y5d91 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba2 y5d91 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba3 y5d91 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba4 y5d91 w4e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba5 y5d91 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba6 y5d91 w595 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d92 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d93 w596 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba7 y5d93 w2d8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">587<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba8 y5d93 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba9 y5d93 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(39<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbaa y5d93 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbab y5d93 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbac y5d93 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbad y5d93 w2b1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">199<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d94 w559 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbae y5d94 w25a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbaf y5d94 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb0 y5d94 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb1 y5d94 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb2 y5d94 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb3 y5d94 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb4 y5d94 w284 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">490<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d95 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d96 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb5 y5d96 w598 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb6 y5d96 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb7 y5d96 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb8 y5d96 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb9 y5d96 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbba y5d96 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbb y5d96 w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d97 w55c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbc y5d97 w2fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbd y5d97 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbe y5d97 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbf y5d97 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc0 y5d97 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc1 y5d97 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc2 y5d97 w100 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">529<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d98 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d99 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc3 y5d99 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc4 y5d99 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc5 y5d99 w599 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc6 y5d99 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc7 y5d99 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc8 y5d99 w381 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc9 y5d99 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d9a w560 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbca y5d9a w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcb y5d9a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcc y5d9a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcd y5d9a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbce y5d9a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61a y5d9a w4f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcf y5d9a w27e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">252<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d9b ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d9c w597 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd0 y5d9c w59a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd1 y5d9c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd2 y5d9c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x896 y5d9c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd3 y5d9c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd4 y5d9c w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd5 y5d9c w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">3<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d9d ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual C<span class=\"_ _0\"></span>ontingent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d9e w596 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd6 y5d9e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd7 y5d9e w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd8 y5d9e we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd9 y5d9e we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbda y5d9e w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdb y5d9e we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdc y5d9e wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">398<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d9f w59c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdd y5d9f w59d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,892<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbde y5d9f w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">47<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdf y5d9f w4ba h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(739)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x41d y5d9f wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe0 y5d9f w4f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe1 y5d9f w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe2 y5d9f w143 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">3,<span class=\"_ _0\"></span>622<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5da1 w59e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t payable on b<span class=\"_ _0\"></span>orrowings</div><div class=\"t m0 xbe3 h11 y5da0 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe4 y5b24 w5c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe5 y5b24 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe6 y5b24 w59f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">(21<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe7 y5b24 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe8 y5b24 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe9 y5b24 w540 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbea y5b24 w5a0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5c07 w5a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivative ass<span class=\"_ _0\"></span>ets</div><div class=\"t m0 xbeb h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbec y5b25 w5a2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(118<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbed y5b25 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbee y5b25 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbef y5b25 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf0 y5b25 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf1 y5b25 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf2 y5b25 w66 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xbf3 y5a16 wda h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf4 y5a16 w5a3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">475<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf5 y5a16 w5a4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>957)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf6 y5a16 w2f0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf7 y5a16 w197 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf8 y5a16 w14e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">208<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf9 y5a16 w4b0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">3<span class=\"_ _0\"></span>,576<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs424\">1 <span class=\"_ _9\"> </span>Prin<span class=\"_ _0\"></span>cipal<span class=\"_ _0\"></span>ly comp<span class=\"_ _0\"></span>rise<span class=\"_ _0\"></span>s amor<span class=\"_ _0\"></span>tis<span class=\"_ _0\"></span>ation un<span class=\"_ _0\"></span>der th<span class=\"_ _0\"></span>e effe<span class=\"_ _0\"></span>ctive i<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st met<span class=\"_ _0\"></span>hod ap<span class=\"_ _0\"></span>plied t<span class=\"_ _0\"></span>o borro<span class=\"_ _0\"></span>wings h<span class=\"_ _0\"></span>eld at a<span class=\"_ _0\"></span>mor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. No int<span class=\"_ _0\"></span>eres<span class=\"_ _0\"></span>t was ca<span class=\"_ _0\"></span>pital<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n the yea<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs425\">2 <span class=\"_ _1a\"> </span> Cr<span class=\"_ _0\"></span>oss cu<span class=\"_ _0\"></span>rrenc<span class=\"_ _0\"></span>y swap<span class=\"_ _0\"></span>s to hed<span class=\"_ _0\"></span>ge ag<span class=\"_ _0\"></span>ains<span class=\"_ _0\"></span>t adver<span class=\"_ _0\"></span>se cur<span class=\"_ _0\"></span>renc<span class=\"_ _0\"></span>y movem<span class=\"_ _0\"></span>ents in r<span class=\"_ _0\"></span>espe<span class=\"_ _0\"></span>ct of Gr<span class=\"_ _0\"></span>oup\u2019s Euro a<span class=\"_ _0\"></span>nd US Do<span class=\"_ _0\"></span>llar de<span class=\"_ _0\"></span>nomin<span class=\"_ _0\"></span>ated b<span class=\"_ _0\"></span>orrow<span class=\"_ _0\"></span>ings<span class=\"_ _0\"></span>. The<span class=\"_ _0\"></span>se ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts ar<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ted w<span class=\"_ _0\"></span>ithin th<span class=\"_ _0\"></span>e deri<span class=\"_ _0\"></span>vative b<span class=\"_ _0\"></span>alan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs426\">det<span class=\"_ _0\"></span>aile<span class=\"_ _0\"></span>d within n<span class=\"_ _0\"></span>ote E3<span class=\"_ _0\"></span>.1.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls21 ws23 gs427\">3  O<span class=\"_ _0\"></span>ther movement repre<span class=\"_ _0\"></span>sents the non-c<span class=\"_ _0\"></span>ash movement in the interest liab<span class=\"_ _0\"></span>ility on borrowing<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w5a5 h24c\" id=\"_95dec0e4-2e3d-4825-b05f-af0978c0aa89\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5da2 w5a6 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">Cash mov<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xbfb y5da2 w5a7 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Non-cash mo<span class=\"_ _2\"></span>vements<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xb7e ha y5da3 ff2 fs5 fc3 sc0 ls11 ws11\">New<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 xb13 ha y5da3 ff2 fs5 fc3 sc0 ls21 ws23\">Moveme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> in<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xbfc ha y5da4 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2ea ha y5da4 ff2 fs5 fc3 sc0 ls1 ws1\"> bo<span class=\"_ _0\"></span>rrowin<span class=\"_ _0\"></span>gs, n<span class=\"_ _0\"></span>et </td><td></td><td class=\"t m0 xbfd ha y5da4 ff2 fs5 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nge<span class=\"_ _0\"></span>s in fair </td><td class=\"t m0 x9de ha y5da4 ff2 fs5 fc3 sc0 ls8d ws86\"> foreign<span class=\"_ _2\"></span> </td><td class=\"t m0 x497 ha y5da4 ff2 fs5 fc3 sc0 ls4d wsbf\">Other </td><td class=\"t m0 xb80 ha y5da5 ff2 fs5 fc3 sc0 ls1 ws1\">At 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td></tr><tr><td></td><td class=\"t m0 xb81 ha y5da6 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 ha y5da6 ff2 fs5 fc3 sc0 ls1 ws1\">of co<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe ha y5da6 ff2 fs5 fc3 sc0 ls4d wsbf\">Repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbff ha y5da6 ff2 fs5 fc3 sc0 ls11 ws11\">value<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 ha y5da6 ff2 fs5 fc3 sc0 ls54 ws7f\">exchange<span class=\"_ _3bd\"> </span></td><td class=\"c xc01 y5da7 w5a8 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">movements</div><div class=\"t m0 xc00 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x2ef ha y5da8 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2fb ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x499 ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c ha y5daa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5daa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5dab ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>00 million mul<span class=\"_ _0\"></span>ti-curren<span class=\"_ _0\"></span>cy revolving cre<span class=\"_ _0\"></span>dit </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5dac w5a9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">facili<span class=\"_ _0\"></span>ty<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc02 y5dac w5aa h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">62<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc03 y5dac w51b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc04 y5dac w5ab h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc05 y5dac wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc06 y5dac wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc07 y5dac w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x512 y5dac w4d5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dad w593 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Propert<span class=\"_ _0\"></span>y Reversions loan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8b y5dad w154 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc08 y5dad wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc09 y5dad w598 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0a y5dad w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0b y5dad wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0c y5dad wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0d y5dad w1b8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dae w551 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0e y5dae w5ac h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">427<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0f y5dae wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc10 y5dae w5ad h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>231<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc11 y5dae wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc12 y5dae wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc13 y5dae w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc14 y5dae w16f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">197<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5daf w553 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc15 y5daf w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc16 y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc17 y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc18 y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc19 y5daf w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1a y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1b y5daf w5ae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">3<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5db0 w555 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1c y5db0 w103 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">439<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1d y5db0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1e y5db0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1f y5db0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc20 y5db0 w1ae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc21 y5db0 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc22 y5db0 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">430<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5db1 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5db2 w596 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc23 y5db2 w594 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">618<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc24 y5db2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc25 y5db2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc26 y5db2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc27 y5db2 w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc28 y5db2 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc29 y5db2 w70 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">587<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5db3 w559 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2a y5db3 w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2b y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2c y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2d y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2e y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2f y5db3 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc30 y5db3 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">489<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5db4 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5db5 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc31 y5db5 w4da h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc32 y5db5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc33 y5db5 w4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc34 y5db5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc35 y5db5 w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc36 y5db5 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc37 y5db5 w4b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5db6 w55c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc38 y5db6 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">543<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc39 y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3a y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3b y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3c y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3d y5db6 w5af h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(<span class=\"_ _0\"></span>7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3e y5db6 w4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">5<span class=\"_ _0\"></span>36<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5db7 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5db8 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3f y5db8 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc32 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc40 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc41 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc42 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc43 y5db8 w209 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc44 y5db8 w320 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">254<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5db9 w560 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbca y5db9 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc45 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc46 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc47 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc48 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc49 y5db9 w5b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4a y5db9 w320 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">253<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5dba ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dbb w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4b y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4c y5dbb w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">346<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4d y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4e y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4f y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc50 y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc51 y5dbb w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">346<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dbc w59c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc52 y5dbc wdb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,9<span class=\"_ _0\"></span>80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc53 y5dbc w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc54 y5dbc w5b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>08)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc55 y5dbc w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc56 y5dbc wb9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>84)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc57 y5dbc w1b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc58 y5dbc w5b2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,892<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5dbd w59e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t payable on b<span class=\"_ _0\"></span>orrowings</div><div class=\"t m0 xbe3 h11 y5d6e ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe4 y5b24 w51b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc59 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5a y5b24 w5b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>03)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5b y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5c y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5d y5b24 w268 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">202<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5e y5b24 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5b25 w5a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivative ass<span class=\"_ _0\"></span>ets</div><div class=\"t m0 xbeb h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbec y5b25 w84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>225<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5f y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc60 y5b25 w203 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc61 y5b25 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">108<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc62 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc63 y5b25 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc64 y5b25 w7e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(118)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xbf3 y5a16 w5b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">3,<span class=\"_ _0\"></span>819<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc65 y5a16 w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc66 y5a16 w5b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(61<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc67 y5a16 w378 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc68 y5a16 w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(8<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc69 y5a16 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc6a y5a16 w5b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs429\">1 <span class=\"_ _9\"> </span>Prin<span class=\"_ _0\"></span>cipal<span class=\"_ _0\"></span>ly comp<span class=\"_ _0\"></span>rise<span class=\"_ _0\"></span>s amor<span class=\"_ _0\"></span>tis<span class=\"_ _0\"></span>ation un<span class=\"_ _0\"></span>der th<span class=\"_ _0\"></span>e effe<span class=\"_ _0\"></span>ctive i<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st met<span class=\"_ _0\"></span>hod ap<span class=\"_ _0\"></span>plied t<span class=\"_ _0\"></span>o borro<span class=\"_ _0\"></span>wings h<span class=\"_ _0\"></span>eld at a<span class=\"_ _0\"></span>mor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. No int<span class=\"_ _0\"></span>eres<span class=\"_ _0\"></span>t was ca<span class=\"_ _0\"></span>pital<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n the yea<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs42a\">2  <span class=\"_ _0\"></span>Cros<span class=\"_ _0\"></span>s curre<span class=\"_ _0\"></span>ncy sw<span class=\"_ _0\"></span>aps to he<span class=\"_ _0\"></span>dge a<span class=\"_ _0\"></span>gain<span class=\"_ _0\"></span>st adv<span class=\"_ _0\"></span>erse c<span class=\"_ _0\"></span>urren<span class=\"_ _0\"></span>cy move<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s in res<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>t of Group<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s Eu<span class=\"_ _0\"></span>ro and US D<span class=\"_ _0\"></span>olla<span class=\"_ _0\"></span>r denom<span class=\"_ _0\"></span>inate<span class=\"_ _0\"></span>d borr<span class=\"_ _0\"></span>owing<span class=\"_ _0\"></span>s. Th<span class=\"_ _0\"></span>ese in<span class=\"_ _0\"></span>stru<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s are rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d with<span class=\"_ _0\"></span>in the de<span class=\"_ _0\"></span>rivati<span class=\"_ _0\"></span>ve bala<span class=\"_ _0\"></span>nces </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs42b\">det<span class=\"_ _0\"></span>aile<span class=\"_ _0\"></span>d within n<span class=\"_ _0\"></span>ote E3<span class=\"_ _0\"></span>.1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls21 ws23 gs42c\">3  O<span class=\"_ _0\"></span>ther movement repre<span class=\"_ _0\"></span>sents the non-c<span class=\"_ _0\"></span>ash movement in the interest liab<span class=\"_ _0\"></span>ility on borrowing<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs42d\">E6. Ris<span class=\"_ _0\"></span>k manage<span class=\"_ _0\"></span>ment \u2013 financia<span class=\"_ _0\"></span>l and other risks<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs42e\">This note for<span class=\"_ _0\"></span>ms one par<span class=\"_ _0\"></span>t of the risk ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent disclo<span class=\"_ _0\"></span>sures in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. An over<span class=\"_ _0\"></span>view of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s app<span class=\"_ _0\"></span>roach to<span class=\"_ gs47\"> </span>risk </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs42f\">man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt is outline<span class=\"_ _0\"></span>d in note I3 and the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent of insuranc<span class=\"_ _0\"></span>e risk is deta<span class=\"_ _0\"></span>iled in note F11<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs430\">E6<span class=\"_ _0\"></span>.1 Finan<span class=\"_ _0\"></span>cial ris<span class=\"_ _0\"></span>k and th<span class=\"_ _0\"></span>e Asse<span class=\"_ _0\"></span>t Liabil<span class=\"_ _0\"></span>ity M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement (\u2018ALM\u2019<span class=\"_ _0\"></span>) fram<span class=\"_ _0\"></span>ework<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs431\">The us<span class=\"_ _0\"></span>e of financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts natur<span class=\"_ _0\"></span>ally expos<span class=\"_ _0\"></span>es the Group to th<span class=\"_ _0\"></span>e risks ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th them, c<span class=\"_ _0\"></span>hiefly market risk<span class=\"_ _0\"></span>, credit ris<span class=\"_ _0\"></span>k and financ<span class=\"_ _0\"></span>ial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs432\">soun<span class=\"_ _0\"></span>dness ri<span class=\"_ _0\"></span>sk. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs433\">Resp<span class=\"_ _0\"></span>onsibilit<span class=\"_ _0\"></span>y for agre<span class=\"_ _0\"></span>eing the finan<span class=\"_ _0\"></span>cial risk profil<span class=\"_ _0\"></span>e rests wi<span class=\"_ _0\"></span>th the Board of e<span class=\"_ _0\"></span>ach Life Comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>, as ad<span class=\"_ _0\"></span>vised by inves<span class=\"_ _0\"></span>tment man<span class=\"_ _0\"></span>agers<span class=\"_ _0\"></span>, internal </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs434\">comm<span class=\"_ _0\"></span>ittee<span class=\"_ _0\"></span>s and<span class=\"_ gs47\"> </span>the ac<span class=\"_ _0\"></span>tuarial f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>. In set<span class=\"_ _0\"></span>ting the ris<span class=\"_ _0\"></span>k profile, the Bo<span class=\"_ _0\"></span>ard of each Life Co<span class=\"_ _0\"></span>mpany will rece<span class=\"_ _0\"></span>ive advice from t<span class=\"_ _0\"></span>he Chief Investm<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs435\">Of<span class=\"_ _0\"></span>ficer, the relevant W<span class=\"_ _0\"></span>ith-profits Ac<span class=\"_ _0\"></span>tuar<span class=\"_ _0\"></span>y and the re<span class=\"_ _0\"></span>levant act<span class=\"_ _0\"></span>uarial func<span class=\"_ _0\"></span>tion hold<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>Chi<span class=\"_ _0\"></span>ef Actuar<span class=\"_ _0\"></span>y as to the p<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntial implic<span class=\"_ _0\"></span>ations of that risk p<span class=\"_ _0\"></span>rofile </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs436\">with re<span class=\"_ _0\"></span>gard to the prob<span class=\"_ _0\"></span>ability of b<span class=\"_ _0\"></span>oth realisti<span class=\"_ _0\"></span>c insolvenc<span class=\"_ _0\"></span>y and of failing to me<span class=\"_ _0\"></span>et the reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y Minimum Capi<span class=\"_ _0\"></span>tal Require<span class=\"_ _0\"></span>ment. Th<span class=\"_ _0\"></span>e Chief Actua<span class=\"_ _0\"></span>ry will </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs437\">also a<span class=\"_ _0\"></span>dvise the ex<span class=\"_ _0\"></span>tent to<span class=\"_ gs47\"> </span>which th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment r<span class=\"_ _0\"></span>isk taken is cons<span class=\"_ _0\"></span>istent with th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ommitment to h<span class=\"_ _0\"></span>elp custom<span class=\"_ _0\"></span>ers se<span class=\"_ _0\"></span>cure a life of<span class=\"_ gs47\"> </span>poss<span class=\"_ _0\"></span>ibilities<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs438\">inclu<span class=\"_ _0\"></span>ding meet<span class=\"_ _0\"></span>ing the FCA<span class=\"_ _2\"></span>\u2019s expec<span class=\"_ _0\"></span>tations un<span class=\"_ _0\"></span>der Con<span class=\"_ _0\"></span>sumer Du<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs439\">Der<span class=\"_ _0\"></span>ivatives are use<span class=\"_ _0\"></span>d in many of the Group\u2019s funds<span class=\"_ _0\"></span>, within po<span class=\"_ _0\"></span>licy guide<span class=\"_ _0\"></span>lines agre<span class=\"_ _0\"></span>ed by the Bo<span class=\"_ _0\"></span>ard of each Life Co<span class=\"_ _0\"></span>mpany and over<span class=\"_ _0\"></span>seen by inves<span class=\"_ _0\"></span>tment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs43a\">comm<span class=\"_ _0\"></span>ittee<span class=\"_ _0\"></span>s of the Boards of e<span class=\"_ _0\"></span>ach Life Comp<span class=\"_ _0\"></span>any suppor<span class=\"_ _0\"></span>ted by man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsight com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>es. De<span class=\"_ _0\"></span>rivatives are prim<span class=\"_ _0\"></span>arily use<span class=\"_ _0\"></span>d for<span class=\"_ gs47\"> </span>risk he<span class=\"_ _0\"></span>dging </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs43b\">purp<span class=\"_ _0\"></span>oses or for ef<span class=\"_ _0\"></span>ficient po<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>folio manag<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, including th<span class=\"_ _0\"></span>e activit<span class=\"_ _0\"></span>ies of the Group\u2019s T<span class=\"_ _4\"></span>rea<span class=\"_ _0\"></span>sury f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs43c\">More de<span class=\"_ _0\"></span>tail on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s expo<span class=\"_ _0\"></span>sure to financi<span class=\"_ _0\"></span>al risk is provide<span class=\"_ _0\"></span>d in note E6.<span class=\"_ _0\"></span>2 below.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs43d\">The Gro<span class=\"_ _0\"></span>up is also exp<span class=\"_ _0\"></span>osed to ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k arising from it<span class=\"_ _0\"></span>s Life, Pensions a<span class=\"_ _0\"></span>nd Saving<span class=\"_ _0\"></span>s busines<span class=\"_ _0\"></span>s. Life insur<span class=\"_ _0\"></span>ance risk in t<span class=\"_ _0\"></span>he Group aris<span class=\"_ _0\"></span>es throug<span class=\"_ _0\"></span>h its </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs43e\">expo<span class=\"_ _0\"></span>sure to longevi<span class=\"_ _0\"></span>ty, persi<span class=\"_ _0\"></span>stency, mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y and to othe<span class=\"_ _0\"></span>r variance<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d actua<span class=\"_ _0\"></span>l experien<span class=\"_ _0\"></span>ce. The<span class=\"_ _0\"></span>se varianc<span class=\"_ _0\"></span>es can b<span class=\"_ _0\"></span>e in factors </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs43f\">such a<span class=\"_ _0\"></span>s administr<span class=\"_ _0\"></span>ative expen<span class=\"_ _0\"></span>ses and n<span class=\"_ _0\"></span>ew busines<span class=\"_ _0\"></span>s pricing<span class=\"_ _0\"></span>. More det<span class=\"_ _0\"></span>ail on the Group\u2019s expos<span class=\"_ _0\"></span>ure to insuranc<span class=\"_ _0\"></span>e risk is provide<span class=\"_ _0\"></span>d in note F11.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs440\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s overall ex<span class=\"_ _0\"></span>posure to mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et an<span class=\"_ _0\"></span>d credit risk is m<span class=\"_ _0\"></span>onitored by app<span class=\"_ _0\"></span>ropriate comm<span class=\"_ _0\"></span>ittee<span class=\"_ _0\"></span>s, whic<span class=\"_ _0\"></span>h agree po<span class=\"_ _0\"></span>licies for man<span class=\"_ _0\"></span>aging ea<span class=\"_ _0\"></span>ch ty<span class=\"_ _0\"></span>pe of<span class=\"_ gs47\"> </span>risk </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs441\">on an<span class=\"_ gs47\"> </span>on<span class=\"_ _0\"></span>going bas<span class=\"_ _0\"></span>is, in line wit<span class=\"_ _0\"></span>h the investme<span class=\"_ _0\"></span>nt strate<span class=\"_ _0\"></span>gy develop<span class=\"_ _0\"></span>ed to achieve inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s in excess of am<span class=\"_ _0\"></span>ounts due in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs442\">contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. The ef<span class=\"_ _0\"></span>fectiven<span class=\"_ _0\"></span>ess of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ALM fram<span class=\"_ _0\"></span>ework relies o<span class=\"_ _0\"></span>n the matching of a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and liabilitie<span class=\"_ _0\"></span>s arising from ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nt </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs443\">contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, takin<span class=\"_ _0\"></span>g in<span class=\"_ _2\"></span>to a<span class=\"_ _0\"></span>ccount th<span class=\"_ _0\"></span>e type<span class=\"_ _0\"></span>s of benefit<span class=\"_ _0\"></span>s payable to polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs under e<span class=\"_ _0\"></span>ach t<span class=\"_ _0\"></span>ype of contrac<span class=\"_ _0\"></span>t. Se<span class=\"_ _0\"></span>parate por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lios of asset<span class=\"_ _0\"></span>s are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs444\">maint<span class=\"_ _0\"></span>ained for with-<span class=\"_ _0\"></span>profits busin<span class=\"_ _0\"></span>ess fun<span class=\"_ _0\"></span>ds (which includ<span class=\"_ _0\"></span>e all of the Group\u2019s par<span class=\"_ _0\"></span>ticipating bu<span class=\"_ _0\"></span>siness), no<span class=\"_ _0\"></span>n-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d non-profit<span class=\"_ _0\"></span>s funds an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs445\">unit-linked fund<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gs447\">E6<span class=\"_ _0\"></span>.2 Financial risk anal<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>is<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs448\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions in finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>truments re<span class=\"_ _0\"></span>sult in the Gro<span class=\"_ _0\"></span>up assumin<span class=\"_ _0\"></span>g financial r<span class=\"_ _0\"></span>isks. The<span class=\"_ _0\"></span>se inclu<span class=\"_ _0\"></span>de credit risk<span class=\"_ _0\"></span>, market risk an<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>oundne<span class=\"_ _0\"></span>ss risk. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs449\">Eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese are de<span class=\"_ _0\"></span>scribe<span class=\"_ _0\"></span>d below, togeth<span class=\"_ _0\"></span>er with a summ<span class=\"_ _0\"></span>ary of how th<span class=\"_ _0\"></span>e Group man<span class=\"_ _0\"></span>ages the r<span class=\"_ _0\"></span>isk, alon<span class=\"_ _0\"></span>g with sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y analysis wh<span class=\"_ _0\"></span>ere appropr<span class=\"_ _0\"></span>iate. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs44a\">The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis does n<span class=\"_ _0\"></span>ot include se<span class=\"_ _0\"></span>cond ord<span class=\"_ _0\"></span>er impac<span class=\"_ _0\"></span>ts of market moveme<span class=\"_ _0\"></span>nts, for<span class=\"_ gs47\"> </span>exa<span class=\"_ _0\"></span>mple, whe<span class=\"_ _0\"></span>re a market movement m<span class=\"_ _0\"></span>ay give rise to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs44b\">potentia<span class=\"_ _0\"></span>l indicator<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f im<span class=\"_ _0\"></span>pairment for th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s int<span class=\"_ _0\"></span>angible b<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gs44c\">Climate risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs44d\">The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to financ<span class=\"_ _0\"></span>ial risks (in par<span class=\"_ _0\"></span>ticular m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et a<span class=\"_ _0\"></span>nd credit ris<span class=\"_ _0\"></span>k) related to th<span class=\"_ _0\"></span>e transitio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o a l<span class=\"_ _0\"></span>ow carbon e<span class=\"_ _0\"></span>conomy, and the p<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>ys<span class=\"_ _0\"></span>ical </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs44e\">impac<span class=\"_ _0\"></span>ts res<span class=\"_ _0\"></span>ulting from climate c<span class=\"_ _0\"></span>hange wh<span class=\"_ _0\"></span>ich could re<span class=\"_ _0\"></span>sult in long-ter<span class=\"_ _0\"></span>m market, credi<span class=\"_ _0\"></span>t, insura<span class=\"_ _0\"></span>nce, rep<span class=\"_ _0\"></span>utation<span class=\"_ _0\"></span>, propositio<span class=\"_ _0\"></span>n and oper<span class=\"_ _0\"></span>ational </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs44f\">implic<span class=\"_ _0\"></span>ations<span class=\"_ _0\"></span>. As such<span class=\"_ _0\"></span>, this<span class=\"_ gs47\"> </span>risk is treate<span class=\"_ _0\"></span>d as a comp<span class=\"_ _0\"></span>onent of the cros<span class=\"_ _0\"></span>s-c<span class=\"_ _0\"></span>utting S<span class=\"_ _0\"></span>usta<span class=\"_ _0\"></span>inabilit<span class=\"_ _0\"></span>y risk in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Risk Un<span class=\"_ _0\"></span>iverse. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs450\">Ide<span class=\"_ _0\"></span>ntification of clim<span class=\"_ _0\"></span>ate related ris<span class=\"_ _0\"></span>ks has bee<span class=\"_ _0\"></span>n embed<span class=\"_ _0\"></span>ded into the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Risk M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Framewor<span class=\"_ _0\"></span>k. Signific<span class=\"_ _0\"></span>ant progre<span class=\"_ _0\"></span>ss has b<span class=\"_ _0\"></span>een ma<span class=\"_ _0\"></span>de </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs451\">in<span class=\"_ gs47\"> </span>rec<span class=\"_ _0\"></span>ent years in devel<span class=\"_ _0\"></span>oping risk me<span class=\"_ _0\"></span>trics and e<span class=\"_ _0\"></span>stabli<span class=\"_ _0\"></span>shing approp<span class=\"_ _0\"></span>riate governan<span class=\"_ _0\"></span>ce and ris<span class=\"_ _0\"></span>k manag<span class=\"_ _0\"></span>ement proc<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s. The G<span class=\"_ _0\"></span>roup has ad<span class=\"_ _0\"></span>opted a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs452\">proa<span class=\"_ _0\"></span>ctive approa<span class=\"_ _0\"></span>ch towards com<span class=\"_ _0\"></span>battin<span class=\"_ _0\"></span>g climate chan<span class=\"_ _0\"></span>ge, with key net zero t<span class=\"_ _0\"></span>argets<span class=\"_ _0\"></span>. Furthe<span class=\"_ _0\"></span>r details on the<span class=\"_ _0\"></span>se targ<span class=\"_ _0\"></span>ets and on m<span class=\"_ _0\"></span>anaging t<span class=\"_ _0\"></span>he related </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs453\">climate c<span class=\"_ _0\"></span>hange ris<span class=\"_ _0\"></span>ks are provided in th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>ask Forc<span class=\"_ _0\"></span>e for Climate-re<span class=\"_ _0\"></span>lated Fina<span class=\"_ _0\"></span>ncial Dis<span class=\"_ _0\"></span>closures (<span class=\"_ _0\"></span>\u2018TCFD\u2019<span class=\"_ _0\"></span>) within the Str<span class=\"_ _0\"></span>ategic Rep<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs454\">Restatement o<span class=\"_ _2\"></span>f prior y<span class=\"_ _2\"></span>ear comparatives<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs455\">The pr<span class=\"_ _0\"></span>ior year comp<span class=\"_ _0\"></span>aratives for the m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>t and credit ri<span class=\"_ _0\"></span>sk sensiti<span class=\"_ _0\"></span>vities have be<span class=\"_ _0\"></span>en rest<span class=\"_ _0\"></span>ated. The<span class=\"_ _0\"></span>se sens<span class=\"_ _0\"></span>itivities were m<span class=\"_ _0\"></span>aterially impa<span class=\"_ _0\"></span>cted by inc<span class=\"_ _0\"></span>luding </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs456\">the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes within th<span class=\"_ _0\"></span>e scope of th<span class=\"_ _0\"></span>e sensitiv<span class=\"_ _0\"></span>ity, providing a mo<span class=\"_ _0\"></span>re holistic vi<span class=\"_ _0\"></span>ew of the impac<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese stre<span class=\"_ _0\"></span>sses o<span class=\"_ _0\"></span>n the Group, an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs457\">improvem<span class=\"_ _0\"></span>ents mad<span class=\"_ _0\"></span>e to the mode<span class=\"_ _0\"></span>lling of sensitiv<span class=\"_ _0\"></span>ities following th<span class=\"_ _0\"></span>e introduct<span class=\"_ _0\"></span>ion of IFRS 17<span class=\"_ _2\"></span>.<span class=\"_ gs47\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs458\">E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.1 Cred<span class=\"_ _0\"></span>it risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs459\">Credit r<span class=\"_ _0\"></span>isk is define<span class=\"_ _0\"></span>d as the risk of red<span class=\"_ _0\"></span>uctions in e<span class=\"_ _0\"></span>arnings an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or val<span class=\"_ _0\"></span>ue, throug<span class=\"_ _0\"></span>h financial o<span class=\"_ _0\"></span>r reputatio<span class=\"_ _0\"></span>nal loss<span class=\"_ _0\"></span>, as a res<span class=\"_ _0\"></span>ult of the default of a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs45a\">counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y or an as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>te o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>uch a counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y to a financi<span class=\"_ _0\"></span>al transa<span class=\"_ _0\"></span>ction (i.e<span class=\"_ _0\"></span>. failure to hono<span class=\"_ _0\"></span>ur their finan<span class=\"_ _0\"></span>cial obliga<span class=\"_ _0\"></span>tions, o<span class=\"_ _0\"></span>r failing to per<span class=\"_ _0\"></span>form </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs45b\">them in a tim<span class=\"_ _0\"></span>ely mann<span class=\"_ _0\"></span>er), whether on o<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f balan<span class=\"_ _0\"></span>ce shee<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs45c\">There a<span class=\"_ _0\"></span>re two prin<span class=\"_ _0\"></span>cipal sourc<span class=\"_ _0\"></span>es of credit ris<span class=\"_ _0\"></span>k for the Group:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs45d\">\u2022 <span class=\"_ _19\"> </span>cre<span class=\"_ _0\"></span>dit risk which re<span class=\"_ _0\"></span>sults from dire<span class=\"_ _0\"></span>ct investm<span class=\"_ _0\"></span>ent activ<span class=\"_ _0\"></span>ities, in<span class=\"_ _0\"></span>cluding inves<span class=\"_ _0\"></span>tments in d<span class=\"_ _0\"></span>ebt secur<span class=\"_ _0\"></span>ities, d<span class=\"_ _0\"></span>erivatives co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>, collec<span class=\"_ _0\"></span>tive </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs45e\">investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes<span class=\"_ _0\"></span>, hedge f<span class=\"_ _0\"></span>unds and th<span class=\"_ _0\"></span>e placing of c<span class=\"_ _0\"></span>ash depo<span class=\"_ _0\"></span>sits; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs45f\">\u2022 <span class=\"_ _19\"> </span>cre<span class=\"_ _0\"></span>dit risk which re<span class=\"_ _0\"></span>sults indire<span class=\"_ _0\"></span>ctly from a<span class=\"_ _0\"></span>ctivitie<span class=\"_ _0\"></span>s under<span class=\"_ _0\"></span>taken in the norm<span class=\"_ _0\"></span>al cours<span class=\"_ _0\"></span>e of busines<span class=\"_ _0\"></span>s. Su<span class=\"_ _0\"></span>ch activit<span class=\"_ _0\"></span>ies includ<span class=\"_ _0\"></span>e premium payme<span class=\"_ _0\"></span>nts, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs460\">out<span class=\"_ _0\"></span>sourcing c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e agreem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, exposure fro<span class=\"_ _0\"></span>m material sup<span class=\"_ _0\"></span>pliers and t<span class=\"_ _0\"></span>he lending of s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs461\">The am<span class=\"_ _0\"></span>ount disclo<span class=\"_ _0\"></span>sed in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>ll financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, tog<span class=\"_ _0\"></span>ether with rig<span class=\"_ _0\"></span>hts sec<span class=\"_ _0\"></span>ured under of<span class=\"_ _0\"></span>f </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs462\">bala<span class=\"_ _0\"></span>nce she<span class=\"_ _0\"></span>et collatera<span class=\"_ _0\"></span>l arrang<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>, but exclu<span class=\"_ _0\"></span>ding the mino<span class=\"_ _0\"></span>rity intere<span class=\"_ _0\"></span>st in cons<span class=\"_ _0\"></span>olidated c<span class=\"_ _0\"></span>ollective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes a<span class=\"_ _0\"></span>nd those a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s that back </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs463\">polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, represe<span class=\"_ _0\"></span>nts the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s max<span class=\"_ _0\"></span>imum expos<span class=\"_ _0\"></span>ure t<span class=\"_ _2\"></span>o c<span class=\"_ _0\"></span>redit risk<span class=\"_ _0\"></span>. The credit r<span class=\"_ _0\"></span>isk borne by th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder on with-p<span class=\"_ _0\"></span>rofits polici<span class=\"_ _0\"></span>es is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs464\">dep<span class=\"_ _0\"></span>endent on th<span class=\"_ _0\"></span>e extent to whic<span class=\"_ _0\"></span>h the underl<span class=\"_ _0\"></span>ying insuran<span class=\"_ _0\"></span>ce fund is re<span class=\"_ _0\"></span>lying on sha<span class=\"_ _0\"></span>reholde<span class=\"_ _0\"></span>r suppor<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs465\">The imp<span class=\"_ _0\"></span>act of non-<span class=\"_ _0\"></span>governme<span class=\"_ _0\"></span>nt debt sec<span class=\"_ _0\"></span>urities and<span class=\"_ _0\"></span>, inter alia, th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in market credit spre<span class=\"_ _0\"></span>ads during th<span class=\"_ _0\"></span>e year is fully refl<span class=\"_ _0\"></span>ected in th<span class=\"_ _0\"></span>e values </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs466\">shown in t<span class=\"_ _0\"></span>hese con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _0\"></span>s are the exces<span class=\"_ _0\"></span>s of corpor<span class=\"_ _0\"></span>ate bond yiel<span class=\"_ _0\"></span>ds over gilt yield<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o refl<span class=\"_ _0\"></span>ect th<span class=\"_ _0\"></span>e higher level </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs467\">of risk. S<span class=\"_ _0\"></span>imilarly, the value of de<span class=\"_ _0\"></span>rivatives that th<span class=\"_ _0\"></span>e Group hold<span class=\"_ _0\"></span>s takes into acco<span class=\"_ _0\"></span>unt fully the cha<span class=\"_ _0\"></span>nges in s<span class=\"_ _0\"></span>wap rates<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs468\">There i<span class=\"_ _0\"></span>s an exposure to s<span class=\"_ _0\"></span>pread cha<span class=\"_ _0\"></span>nges af<span class=\"_ _0\"></span>fectin<span class=\"_ _0\"></span>g the price<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>orporate b<span class=\"_ _0\"></span>onds and de<span class=\"_ _0\"></span>rivatives. T<span class=\"_ _0\"></span>his expos<span class=\"_ _0\"></span>ure applies to supp<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d with-profit<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs469\">fund<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>whe<span class=\"_ _0\"></span>re risks and rewa<span class=\"_ _0\"></span>rds fall wholly to s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>ers), non-profi<span class=\"_ _0\"></span>t funds and s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>ers\u2019 funds<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs46a\">The Gro<span class=\"_ _0\"></span>up holds \u00a3<span class=\"_ _0\"></span>17<span class=\"_ _4\"></span>,<span class=\"_ _0\"></span>554 millio<span class=\"_ _0\"></span>n (2023: \u00a31<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>79 milli<span class=\"_ _0\"></span>on) o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>orporate bo<span class=\"_ _0\"></span>nds which are u<span class=\"_ _0\"></span>sed to bac<span class=\"_ _0\"></span>k annuit<span class=\"_ _0\"></span>y liabilities in n<span class=\"_ _0\"></span>on-profit fund<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs46b\">The<span class=\"_ _0\"></span>se<span class=\"_ gs47\"> </span>annuit<span class=\"_ _0\"></span>y liabilitie<span class=\"_ _0\"></span>s include an a<span class=\"_ _0\"></span>ggreg<span class=\"_ _0\"></span>ate credit defa<span class=\"_ _0\"></span>ult provision of \u00a33<span class=\"_ _0\"></span>30 million (2023<span class=\"_ _0\"></span>: \u00a338<span class=\"_ _0\"></span>8 million) to fund a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he risk of default<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs46c\">The cre<span class=\"_ _0\"></span>dit sprea<span class=\"_ _0\"></span>d sensiti<span class=\"_ _0\"></span>vity rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s a 100<span class=\"_ _0\"></span>bps widenin<span class=\"_ _0\"></span>g of credit spre<span class=\"_ _0\"></span>ads, w<span class=\"_ _0\"></span>ith no chan<span class=\"_ _0\"></span>ge in the risk-free interes<span class=\"_ _0\"></span>t rate cur<span class=\"_ _0\"></span>ve. Under t<span class=\"_ _0\"></span>his </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs46d\">sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y it is also as<span class=\"_ _0\"></span>sumed t<span class=\"_ _0\"></span>hat both expe<span class=\"_ _0\"></span>cted an<span class=\"_ _0\"></span>d unexpe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults remain un<span class=\"_ _0\"></span>chang<span class=\"_ _0\"></span>ed. The illi<span class=\"_ _0\"></span>quidity p<span class=\"_ _0\"></span>remium use<span class=\"_ _0\"></span>d in the valuation of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs46e\">prima<span class=\"_ _0\"></span>rily annuit<span class=\"_ _0\"></span>y liabilitie<span class=\"_ _0\"></span>s, and as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, is adj<span class=\"_ _0\"></span>usted to refl<span class=\"_ _0\"></span>ect the im<span class=\"_ _0\"></span>pact of the c<span class=\"_ _0\"></span>hange in cre<span class=\"_ _0\"></span>dit sprea<span class=\"_ _0\"></span>ds arising on a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs46f\">cont<span class=\"_ _0\"></span>aining credit r<span class=\"_ _0\"></span>isk held with<span class=\"_ _0\"></span>in the referenc<span class=\"_ _0\"></span>e port<span class=\"_ _0\"></span>folio.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs470\">A 10<span class=\"_ _0\"></span>0bps wi<span class=\"_ _0\"></span>dening of credi<span class=\"_ _0\"></span>t spreads<span class=\"_ _0\"></span>, with all othe<span class=\"_ _0\"></span>r variables h<span class=\"_ _0\"></span>eld cons<span class=\"_ _0\"></span>tant and n<span class=\"_ _0\"></span>o chang<span class=\"_ _0\"></span>e in assum<span class=\"_ _0\"></span>ed expe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults, wo<span class=\"_ _0\"></span>uld result in an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs471\">incre<span class=\"_ _0\"></span>ase in the profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x in respe<span class=\"_ _0\"></span>ct of a full financ<span class=\"_ _0\"></span>ial year of \u00a314 millio<span class=\"_ _0\"></span>n (2023: dec<span class=\"_ _0\"></span>rease \u00a3<span class=\"_ _0\"></span>108 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>res<span class=\"_ _0\"></span>tated)), an in<span class=\"_ _0\"></span>crease in e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs472\">\u00a3141 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>66 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>res<span class=\"_ _0\"></span>tated)), an<span class=\"_ _0\"></span>d a decrea<span class=\"_ _0\"></span>se in CSM of \u00a3<span class=\"_ _0\"></span>3 million (2023: \u00a3<span class=\"_ _0\"></span>14 million (resta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d)).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs473\">A 10<span class=\"_ _0\"></span>0bps n<span class=\"_ _0\"></span>arrowing of credit s<span class=\"_ _0\"></span>preads<span class=\"_ _0\"></span>, with all othe<span class=\"_ _0\"></span>r variables h<span class=\"_ _0\"></span>eld cons<span class=\"_ _0\"></span>tant and n<span class=\"_ _0\"></span>o chang<span class=\"_ _0\"></span>e in assume<span class=\"_ _0\"></span>d expe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults, wo<span class=\"_ _0\"></span>uld result in an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs474\">incre<span class=\"_ _0\"></span>ase in the profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x in respe<span class=\"_ _0\"></span>ct of a full financ<span class=\"_ _0\"></span>ial year of \u00a3<span class=\"_ _2\"></span>42 milli<span class=\"_ _0\"></span>on (2023: \u00a32<span class=\"_ _0\"></span>02 million (restate<span class=\"_ _0\"></span>d)), a decrea<span class=\"_ _0\"></span>se in equit<span class=\"_ _0\"></span>y of \u00a3113 milli<span class=\"_ _0\"></span>on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs475\">(2023<span class=\"_ _0\"></span>: \u00a3136 m<span class=\"_ _0\"></span>illion (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d)<span class=\"_ _2\"></span>), an<span class=\"_ _0\"></span>d an increa<span class=\"_ _0\"></span>se in CSM of \u00a3<span class=\"_ _0\"></span>3 million (2023: \u00a3<span class=\"_ _0\"></span>9 million (restate<span class=\"_ _0\"></span>d)).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs476\">Det<span class=\"_ _0\"></span>ails of the rest<span class=\"_ _0\"></span>atement of the p<span class=\"_ _0\"></span>rior year comp<span class=\"_ _0\"></span>aratives is dis<span class=\"_ _0\"></span>close<span class=\"_ _0\"></span>d in note E6.<span class=\"_ _0\"></span>2.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs477\">Credit r<span class=\"_ _0\"></span>isk is mana<span class=\"_ _0\"></span>ged by the m<span class=\"_ _0\"></span>onitoring of ag<span class=\"_ _0\"></span>gregate G<span class=\"_ _0\"></span>roup exposure<span class=\"_ _0\"></span>s to individual c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ties an<span class=\"_ _0\"></span>d by appropriate cre<span class=\"_ _0\"></span>dit risk diver<span class=\"_ _0\"></span>sification </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs478\">(inclu<span class=\"_ _0\"></span>ding by indus<span class=\"_ _0\"></span>try, credit ra<span class=\"_ _0\"></span>ting, as<span class=\"_ _0\"></span>set cla<span class=\"_ _0\"></span>ss and co<span class=\"_ _0\"></span>untry). The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up manag<span class=\"_ _0\"></span>es the level of cre<span class=\"_ _0\"></span>dit risk it ac<span class=\"_ _0\"></span>cepts thro<span class=\"_ _0\"></span>ugh an es<span class=\"_ _0\"></span>tablishe<span class=\"_ _0\"></span>d Group </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs479\">Credit R<span class=\"_ _0\"></span>isk Policy and G<span class=\"_ _0\"></span>roup Credit Limit an<span class=\"_ _0\"></span>d Counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y Framework th<span class=\"_ _0\"></span>at include<span class=\"_ _0\"></span>s the use of cre<span class=\"_ _0\"></span>dit risk tolera<span class=\"_ _0\"></span>nces an<span class=\"_ _0\"></span>d limits. Ad<span class=\"_ _0\"></span>ditional co<span class=\"_ _0\"></span>ntrols </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs47a\">for illiquid a<span class=\"_ _0\"></span>sset co<span class=\"_ _0\"></span>ncentrati<span class=\"_ _0\"></span>on risk are set o<span class=\"_ _0\"></span>ut via spec<span class=\"_ _0\"></span>ific risk limit<span class=\"_ _0\"></span>s within the fram<span class=\"_ _0\"></span>ework. Cre<span class=\"_ _0\"></span>dit risk on der<span class=\"_ _0\"></span>ivatives and<span class=\"_ gs47\"> </span>se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s lending is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs47b\">mitig<span class=\"_ _0\"></span>ated throug<span class=\"_ _0\"></span>h the use of colla<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ral with app<span class=\"_ _0\"></span>ropriate haircu<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs47d\">Cre<span class=\"_ _0\"></span>dit qua<span class=\"_ _0\"></span>lity of a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs47e\">An indic<span class=\"_ _0\"></span>ation of the Group\u2019s expo<span class=\"_ _0\"></span>sure to credit ris<span class=\"_ _0\"></span>k is the qualit<span class=\"_ _0\"></span>y of the investm<span class=\"_ _0\"></span>ents and c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ties with w<span class=\"_ _0\"></span>hich it trans<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s. The follow<span class=\"_ _0\"></span>ing table </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs47f\">provide<span class=\"_ _0\"></span>s in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation reg<span class=\"_ _0\"></span>arding the ag<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ate credit exp<span class=\"_ _0\"></span>osure split by cre<span class=\"_ _0\"></span>dit rating<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs480\"><table class=\"s w5b7 h24d\" id=\"_0b1706c7-d1ca-47c2-b60c-88fe4734fee7\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x287 h29 y5dbe ff3 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x3b1 h29 y5dbf ff3 fs5 fc3 sc0 ls1 ws1\">am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x2ee h29 y5dc0 ff3 fs5 fc3 sc0 ls8d ws86\">classified </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xc6b h29 y5dc1 ff3 fs5 fc3 sc0 ls1 ws1\">BB a<span class=\"_ _0\"></span>nd </td><td></td><td></td><td></td><td class=\"t m0 x3aa h29 y5dc1 ff3 fs5 fc3 sc0 ls1 ws1\">as h<span class=\"_ _0\"></span>eld for </td><td></td></tr><tr><td></td><td class=\"t m0 xc6c h29 y5dc2 ff3 fs5 fc3 sc0 ls1ef ws20e\">AAA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d h29 y5dc2 ff3 fs5 fc3 sc0 ls1ef ws20e\">AA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6e h29 y5dc2 ff3 fs5 fc3 sc0 ls1 ws1\">A<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6f h29 y5dc2 ff3 fs5 fc3 sc0 lsca wsca\">BBB<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e5 h29 y5dc2 ff3 fs5 fc3 sc0 ls105 ws107\">below<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc70 h29 y5dc2 ff3 fs5 fc3 sc0 ls11a ws11c\">Non-rated<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f h29 y5dc2 ff3 fs5 fc3 sc0 ls65 wsc0\">Unit-linked<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc71 h29 y5dc2 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x302 h29 y5dc2 ff3 fs5 fc3 sc0 ls8d ws86\">sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 h29 y5dc2 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5dc3 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 h29 y5dc3 ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 xc6d h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x920 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc73 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dc4 wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc74 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc75 y5dc4 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc76 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc77 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc78 y5dc4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc79 y5dc4 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7a y5dc4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7b y5dc4 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">261<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7c y5dc4 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7d y5dc4 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">261<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dc5 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7e y5dc5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7f y5dc5 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc80 y5dc5 w5b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17b ws18b\">662<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc81 y5dc5 w19e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc82 y5dc5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc83 y5dc5 w5b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">3<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc84 y5dc5 wac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc85 y5dc5 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc86 y5dc5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc87 y5dc5 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5dc6 w5ba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 xc88 h11 y5a78 ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc89 y5dc7 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8a y5dc7 w5bb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">32,<span class=\"_ _0\"></span>89<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8b y5dc7 w5bc h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">17,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8c y5dc7 w5bd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls81 ws14c\">14<span class=\"_ _2\"></span>,967<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8d y5dc7 w34c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">2,5<span class=\"_ _2\"></span>18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8e y5dc7 w5be h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>07<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8f y5dc7 w5bf h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">6<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc90 y5dc7 w3d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>9,301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc91 y5dc7 w5c0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(979)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc92 y5dc7 w5bb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">8<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>322<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d13 wf7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc93 y5d13 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc94 y5d13 w5c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">3,<span class=\"_ _0\"></span>131<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc95 y5d13 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,056<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc96 y5d13 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc97 y5d13 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc98 y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc99 y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9a y5d13 w5c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5,<span class=\"_ _0\"></span>187<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9b y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2a5 y5d13 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dc8 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c06 w5c3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9c y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9d y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9e y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9f y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca0 y5c06 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca1 y5c06 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca2 y5c06 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca3 y5c06 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca4 y5c06 w1d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3c9 y5c06 w5c4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">9<span class=\"_ _0\"></span>,265<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w108 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca5 y5c07 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca6 y5c07 w5c5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">1,<span class=\"_ _0\"></span>453<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca7 y5c07 w16b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">5,820<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca8 y5c07 w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca9 y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcaa y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcab y5c07 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,1<span class=\"_ _0\"></span>30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcac y5c07 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">9,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcad y5c07 w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcae y5c07 w10a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">9,<span class=\"_ _0\"></span>453<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xc89 y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcaf y5a16 w3d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">3<span class=\"_ _0\"></span>9,014<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb0 y5a16 w5c6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>,29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb1 y5a16 w5c7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">15,0<span class=\"_ _0\"></span>92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb2 y5a16 w4f4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">2,518<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb3 y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb4 y5a16 w54 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>223<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb5 y5a16 w5c8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">11<span class=\"_ _0\"></span>6,1<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb6 y5a16 wec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">(<span class=\"_ _2\"></span>1,04<span class=\"_ _2\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb7 y5a16 w13d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">115,088<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs481\">1 <span class=\"_ _9\"> </span>For fin<span class=\"_ _0\"></span>ancia<span class=\"_ _0\"></span>l ass<span class=\"_ _0\"></span>ets th<span class=\"_ _0\"></span>at do not h<span class=\"_ _0\"></span>ave cre<span class=\"_ _0\"></span>dit rat<span class=\"_ _0\"></span>ings as<span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ed by ex<span class=\"_ _0\"></span>tern<span class=\"_ _0\"></span>al rat<span class=\"_ _0\"></span>ings a<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>ies<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up ass<span class=\"_ _0\"></span>igns in<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l ratin<span class=\"_ _0\"></span>gs for u<span class=\"_ _0\"></span>se in man<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>ment an<span class=\"_ _0\"></span>d moni<span class=\"_ _0\"></span>torin<span class=\"_ _0\"></span>g of credi<span class=\"_ _0\"></span>t risk<span class=\"_ _0\"></span>. \u00a355 mil<span class=\"_ _0\"></span>lion of A<span class=\"_ _0\"></span>AA<span class=\"_ _0\"></span>, </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs482\">\u00a38<span class=\"_ _0\"></span>65 mi<span class=\"_ _0\"></span>llion of A<span class=\"_ _0\"></span>A, \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>837 mi<span class=\"_ _0\"></span>llion of A<span class=\"_ _0\"></span>, \u00a32<span class=\"_ _0\"></span>,26<span class=\"_ _0\"></span>6 milli<span class=\"_ _0\"></span>on of BB<span class=\"_ _0\"></span>B and \u00a324<span class=\"_ _0\"></span>0 millio<span class=\"_ _0\"></span>n of BB and b<span class=\"_ _0\"></span>elow d<span class=\"_ _0\"></span>ebt se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>ies are i<span class=\"_ _0\"></span>ntern<span class=\"_ _0\"></span>ally ra<span class=\"_ _0\"></span>ted. If a fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set is n<span class=\"_ _0\"></span>eithe<span class=\"_ _0\"></span>r rate<span class=\"_ _0\"></span>d by an ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l agen<span class=\"_ _0\"></span>cy no<span class=\"_ _0\"></span>r intern<span class=\"_ _0\"></span>ally </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs483\">rat<span class=\"_ _0\"></span>ed, it i<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as \u2018non-<span class=\"_ _0\"></span>rated<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs484\">2 <span class=\"_ _1a\"> </span>N<span class=\"_ _0\"></span>on-ra<span class=\"_ _0\"></span>ted de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>udes e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y rele<span class=\"_ _0\"></span>ase mo<span class=\"_ _0\"></span>rtg<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>s with a val<span class=\"_ _0\"></span>ue of \u00a34,7<span class=\"_ _0\"></span>95 mil<span class=\"_ _0\"></span>lion (fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r deta<span class=\"_ _0\"></span>ils are s<span class=\"_ _0\"></span>et out in n<span class=\"_ _0\"></span>ote E2.<span class=\"_ _0\"></span>3) an<span class=\"_ _0\"></span>d non-r<span class=\"_ _0\"></span>ated b<span class=\"_ _0\"></span>onds<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs485\"><table class=\"s w5c9 h24e\" id=\"_19376815-9c95-4114-b258-9ff389127759\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xcb8 ha y5dc9 ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xcb9 ha y5dca ff2 fs5 fc3 sc0 ls21 ws23\">amount<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xc6b ha y5dcb ff2 fs5 fc3 sc0 ls1 ws1\">BB a<span class=\"_ _0\"></span>nd </td><td></td><td></td><td></td><td class=\"t m0 xcba ha y5dcb ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 xcbb ha y5dcc ff2 fs5 fc3 sc0 ls163 ws171\">AAA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d ha y5dcc ff2 fs5 fc3 sc0 ls163 ws171\">AA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbc ha y5dcc ff2 fs5 fc3 sc0 ls1 ws1\">A<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6f ha y5dcc ff2 fs5 fc3 sc0 lsaa wsa5\">BBB<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbd ha y5dcc ff2 fs5 fc3 sc0 ls26 wsc6\">below<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbe ha y5dcc ff2 fs5 fc3 sc0 ls11 ws11\">Non-rated<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 ha y5dcc ff2 fs5 fc3 sc0 ls21 ws23\">Unit-linked<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x917 ha y5dcc ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5dcc ff2 fs5 fc3 sc0 ls11 ws11\">held for sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5dcc ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5dcd ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcc0 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dce wdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc74 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc1 y5dce w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc2 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc3 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc4 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc5 y5dce w5ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc6 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc7 y5dce w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc8 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc9 y5dce w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dcf we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcca y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccb y5dcf w5cb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccc y5dcf w14f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">736<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9f y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccd y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcce y5dcf w5cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">662<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccf y5dcf w11a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd0 y5dcf w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd1 y5dcf w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd2 y5dcf w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5dd0 w5ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 xc88 h11 y5b9e ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc89 y5dd0 w5a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd3 y5dd0 w5cd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">34,1<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd4 y5dd0 w5ce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">2<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd5 y5dd0 w3f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">14<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd6 y5dd0 w4b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,<span class=\"_ _0\"></span>933<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd7 y5dd0 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd8 y5dd0 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd9 y5dd0 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcda y5dd0 w5cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _1\"></span>411<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdb y5dd0 w5d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">9<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b12 wf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdc y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdd y5b12 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">2,6<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcde y5b12 w5d1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,163<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdf y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce0 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce1 y5b12 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce2 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce3 y5b12 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4<span class=\"_ _0\"></span>,876<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce4 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce5 y5b12 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4,<span class=\"_ _0\"></span>876<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dd1 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5a46 w5c3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce6 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce7 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce8 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce9 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcea y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xceb y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcec y5a46 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xced y5a46 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcee y5a46 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcef y5a46 w5d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">9,<span class=\"_ _0\"></span>672<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf0 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf1 y5a47 w5d3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>254<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf2 y5a47 w5d4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4,<span class=\"_ _0\"></span>383<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca8 y5a47 w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">88<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaee y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf3 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf4 y5a47 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf5 y5a47 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf6 y5a47 w1f3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf7 y5a47 w10b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xc89 y5a16 w5a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd3 y5a16 w175 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39,39<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf8 y5a16 w5d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>452<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf9 y5a16 w4be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14,<span class=\"_ _0\"></span>857<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfa y5a16 w5d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,<span class=\"_ _0\"></span>933<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfb y5a16 w2c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">8,<span class=\"_ _0\"></span>262<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfc y5a16 w5d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">18<span class=\"_ _0\"></span>,27<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfd y5a16 w5d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">119,598<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfe y5a16 w5d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>49<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcff y5a16 w5da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">118,10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs486\">1 <span class=\"_ _9\"> </span>For fin<span class=\"_ _0\"></span>ancia<span class=\"_ _0\"></span>l ass<span class=\"_ _0\"></span>ets th<span class=\"_ _0\"></span>at do not h<span class=\"_ _0\"></span>ave cre<span class=\"_ _0\"></span>dit rat<span class=\"_ _0\"></span>ings as<span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ed by ex<span class=\"_ _0\"></span>tern<span class=\"_ _0\"></span>al rat<span class=\"_ _0\"></span>ings a<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>ies<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up ass<span class=\"_ _0\"></span>igns in<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l ratin<span class=\"_ _0\"></span>gs for u<span class=\"_ _0\"></span>se in man<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>ment an<span class=\"_ _0\"></span>d moni<span class=\"_ _0\"></span>torin<span class=\"_ _0\"></span>g of credi<span class=\"_ _0\"></span>t risk<span class=\"_ _0\"></span>. \u00a316<span class=\"_ _0\"></span>9 mill<span class=\"_ _0\"></span>ion of AA<span class=\"_ _0\"></span>A<span class=\"_ _0\"></span>, </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs487\">\u00a31<span class=\"_ _0\"></span>,43<span class=\"_ _0\"></span>5 mill<span class=\"_ _0\"></span>ion of A<span class=\"_ _0\"></span>A, \u00a3<span class=\"_ _0\"></span>2,470 mil<span class=\"_ _0\"></span>lion of A<span class=\"_ _0\"></span>, \u00a31<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>9 milli<span class=\"_ _0\"></span>on of BB<span class=\"_ _0\"></span>B and \u00a3247 mi<span class=\"_ _0\"></span>llion of B<span class=\"_ _0\"></span>B and be<span class=\"_ _0\"></span>low deb<span class=\"_ _0\"></span>t sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s are inte<span class=\"_ _0\"></span>rnall<span class=\"_ _0\"></span>y rate<span class=\"_ _0\"></span>d. If a fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l asse<span class=\"_ _0\"></span>t is nei<span class=\"_ _0\"></span>ther r<span class=\"_ _0\"></span>ated by an e<span class=\"_ _0\"></span>xter<span class=\"_ _0\"></span>nal ag<span class=\"_ _0\"></span>enc<span class=\"_ _0\"></span>y nor inte<span class=\"_ _0\"></span>rnal<span class=\"_ _0\"></span>ly </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs488\">rat<span class=\"_ _0\"></span>ed, it i<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as \u2018non-<span class=\"_ _0\"></span>rated<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs489\">2 <span class=\"_ _1a\"> </span>N<span class=\"_ _0\"></span>on-ra<span class=\"_ _0\"></span>ted de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>udes e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y rele<span class=\"_ _0\"></span>ase mo<span class=\"_ _0\"></span>rtg<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>s with a val<span class=\"_ _0\"></span>ue of \u00a34,<span class=\"_ _0\"></span>48<span class=\"_ _0\"></span>6 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails ar<span class=\"_ _0\"></span>e set ou<span class=\"_ _0\"></span>t in note E2<span class=\"_ _0\"></span>.3) a<span class=\"_ _0\"></span>nd non<span class=\"_ _0\"></span>-rate<span class=\"_ _0\"></span>d bond<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs48a\">Credit r<span class=\"_ _0\"></span>atings have n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t b<span class=\"_ _0\"></span>een disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e above table<span class=\"_ _0\"></span>s for the ass<span class=\"_ _0\"></span>ets of the unit-linked fun<span class=\"_ _0\"></span>ds since th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder is not dire<span class=\"_ _0\"></span>ctly expo<span class=\"_ _0\"></span>sed </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs48b\">to<span class=\"_ gs47\"> </span>credi<span class=\"_ _0\"></span>t risks from thes<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s. In<span class=\"_ _0\"></span>cluded in unit-linked f<span class=\"_ _0\"></span>unds are as<span class=\"_ _0\"></span>sets whic<span class=\"_ _0\"></span>h are held as rein<span class=\"_ _0\"></span>sured ex<span class=\"_ _0\"></span>ternal fun<span class=\"_ _0\"></span>d links. Un<span class=\"_ _0\"></span>der cer<span class=\"_ _0\"></span>tain </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs48c\">circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>shareho<span class=\"_ _0\"></span>lder may be ex<span class=\"_ _0\"></span>posed to l<span class=\"_ _0\"></span>osses re<span class=\"_ _0\"></span>lating to the def<span class=\"_ _0\"></span>ault of the reinsure<span class=\"_ _0\"></span>d exter<span class=\"_ _0\"></span>nal fund link<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs48d\">Credit r<span class=\"_ _0\"></span>atings have n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t b<span class=\"_ _0\"></span>een disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e above table<span class=\"_ _0\"></span>s for holding<span class=\"_ _0\"></span>s in uncons<span class=\"_ _0\"></span>olidated co<span class=\"_ _0\"></span>llective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nts in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs48e\">as<span class=\"_ _0\"></span>sociates<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>cre<span class=\"_ _0\"></span>dit qualit<span class=\"_ _0\"></span>y of the underl<span class=\"_ _0\"></span>ying debt se<span class=\"_ _0\"></span>curities wi<span class=\"_ _0\"></span>thin these veh<span class=\"_ _0\"></span>icles is man<span class=\"_ _0\"></span>aged by th<span class=\"_ _0\"></span>e safegu<span class=\"_ _0\"></span>ards built into the inves<span class=\"_ _0\"></span>tment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls11 ws11 gs48f\">mandat<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>hese vehicl<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs490\">The Gro<span class=\"_ _0\"></span>up maintain<span class=\"_ _0\"></span>s accurate an<span class=\"_ _0\"></span>d consis<span class=\"_ _0\"></span>tent risk ratin<span class=\"_ _0\"></span>gs acros<span class=\"_ _0\"></span>s its as<span class=\"_ _0\"></span>set por<span class=\"_ _0\"></span>tfolio. T<span class=\"_ _0\"></span>his enable<span class=\"_ _0\"></span>s manag<span class=\"_ _0\"></span>ement to foc<span class=\"_ _0\"></span>us on the appli<span class=\"_ _0\"></span>cable ris<span class=\"_ _0\"></span>ks and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs491\">to<span class=\"_ gs47\"> </span>comp<span class=\"_ _0\"></span>are credit exp<span class=\"_ _0\"></span>osures ac<span class=\"_ _0\"></span>ross all line<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, ge<span class=\"_ _0\"></span>ograph<span class=\"_ _0\"></span>ical reg<span class=\"_ _0\"></span>ions and pro<span class=\"_ _0\"></span>ducts<span class=\"_ _0\"></span>. The ratin<span class=\"_ _0\"></span>g system i<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ted by a variet<span class=\"_ _0\"></span>y of financ<span class=\"_ _0\"></span>ial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs492\">anal<span class=\"_ _0\"></span>ytic<span class=\"_ _0\"></span>s combine<span class=\"_ _0\"></span>d with market information to p<span class=\"_ _0\"></span>rovide the main inp<span class=\"_ _0\"></span>uts for the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of counterpa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y risk. All ri<span class=\"_ _0\"></span>sk ratings a<span class=\"_ _0\"></span>re tailored to th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs493\">variou<span class=\"_ _0\"></span>s categ<span class=\"_ _0\"></span>ories of ass<span class=\"_ _0\"></span>ets and are a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sed an<span class=\"_ _0\"></span>d updated re<span class=\"_ _0\"></span>gularly.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs494\">The Gro<span class=\"_ _0\"></span>up operate<span class=\"_ _0\"></span>s an Ass<span class=\"_ _0\"></span>et Manag<span class=\"_ _0\"></span>ement Ris<span class=\"_ _0\"></span>k Commit<span class=\"_ _0\"></span>tee, a Ra<span class=\"_ _0\"></span>ting Commi<span class=\"_ _0\"></span>ttee an<span class=\"_ _0\"></span>d a P<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Credit Co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>e to monitor and c<span class=\"_ _0\"></span>ontrol </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs495\">oversig<span class=\"_ _0\"></span>ht o<span class=\"_ _2\"></span>f inte<span class=\"_ _0\"></span>rnal credit r<span class=\"_ _0\"></span>atings for ex<span class=\"_ _0\"></span>ternall<span class=\"_ _0\"></span>y rated and inter<span class=\"_ _0\"></span>nally rated a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s. A variet<span class=\"_ _0\"></span>y of metho<span class=\"_ _0\"></span>ds are use<span class=\"_ _0\"></span>d to validate the app<span class=\"_ _0\"></span>ropriatene<span class=\"_ _0\"></span>ss of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs496\">credi<span class=\"_ _0\"></span>t asse<span class=\"_ _0\"></span>ssment<span class=\"_ _0\"></span>s from exte<span class=\"_ _0\"></span>rnal inst<span class=\"_ _0\"></span>itutions an<span class=\"_ _0\"></span>d fund man<span class=\"_ _0\"></span>ager<span class=\"_ _0\"></span>s. Interna<span class=\"_ _0\"></span>lly rated as<span class=\"_ _0\"></span>sets are th<span class=\"_ _0\"></span>ose that do n<span class=\"_ _0\"></span>ot have a public ratin<span class=\"_ _0\"></span>g from an ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs497\">credi<span class=\"_ _0\"></span>t rating ag<span class=\"_ _0\"></span>ency (\u2018<span class=\"_ _0\"></span>CRA\u2019) or from e<span class=\"_ _0\"></span>xterna<span class=\"_ _0\"></span>l asset m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>rs (where the m<span class=\"_ _0\"></span>ethodolo<span class=\"_ _0\"></span>gy and fr<span class=\"_ _0\"></span>amework is as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed as b<span class=\"_ _0\"></span>eing CR<span class=\"_ _0\"></span>A compar<span class=\"_ _0\"></span>able). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs498\">Ins<span class=\"_ _0\"></span>tead, intern<span class=\"_ _0\"></span>al credit r<span class=\"_ _0\"></span>atings are us<span class=\"_ _0\"></span>ed by the Gro<span class=\"_ _0\"></span>up which are provide<span class=\"_ _0\"></span>d by fund man<span class=\"_ _0\"></span>agers o<span class=\"_ _0\"></span>r for cer<span class=\"_ _0\"></span>tain ass<span class=\"_ _0\"></span>ets (in par<span class=\"_ _0\"></span>ticular, equit<span class=\"_ _0\"></span>y relea<span class=\"_ _0\"></span>se </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs499\">mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es and illiquid a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y t<span class=\"_ _0\"></span>he Life Compani<span class=\"_ _0\"></span>es. The C<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>tees revie<span class=\"_ _0\"></span>w the policie<span class=\"_ _0\"></span>s, proc<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s and pra<span class=\"_ _0\"></span>ctices to e<span class=\"_ _0\"></span>nsure the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs49a\">approp<span class=\"_ _0\"></span>riatenes<span class=\"_ _0\"></span>s of the internal r<span class=\"_ _0\"></span>atings<span class=\"_ _0\"></span>, and to ensure t<span class=\"_ _0\"></span>hey are in line with re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y requirem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs49b\">Throu<span class=\"_ _0\"></span>ghout 2024<span class=\"_ _0\"></span>, the Group ha<span class=\"_ _0\"></span>s continue<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>dert<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>ctions to inc<span class=\"_ _0\"></span>rease th<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rall credit qu<span class=\"_ _0\"></span>ality of it<span class=\"_ _0\"></span>s asset p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio and miti<span class=\"_ _0\"></span>gate the impa<span class=\"_ _0\"></span>ct </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs49c\">of future dow<span class=\"_ _0\"></span>ngrade<span class=\"_ _0\"></span>s on risk ca<span class=\"_ _0\"></span>pital. Addit<span class=\"_ _0\"></span>ionally, the Group ha<span class=\"_ _0\"></span>s increas<span class=\"_ _0\"></span>ed expo<span class=\"_ _0\"></span>sure to an array of illiquid cre<span class=\"_ _0\"></span>dit ass<span class=\"_ _0\"></span>ets such a<span class=\"_ _0\"></span>s equit<span class=\"_ _0\"></span>y releas<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs49d\">mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es, c<span class=\"_ _0\"></span>ommercia<span class=\"_ _0\"></span>l real est<span class=\"_ _0\"></span>ate loans an<span class=\"_ _0\"></span>d in<span class=\"_ _2\"></span>fr<span class=\"_ _0\"></span>astru<span class=\"_ _0\"></span>cture loan<span class=\"_ _0\"></span>s. This is a<span class=\"_ _0\"></span>s a result of BP<span class=\"_ _2\"></span>A tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions with th<span class=\"_ _0\"></span>e aim of achieving g<span class=\"_ _0\"></span>reater </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs49e\">divers<span class=\"_ _0\"></span>ification an<span class=\"_ _0\"></span>d inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment ret<span class=\"_ _0\"></span>urns, c<span class=\"_ _0\"></span>onsiste<span class=\"_ _0\"></span>nt with the Strate<span class=\"_ _0\"></span>gic Ass<span class=\"_ _0\"></span>et Alloc<span class=\"_ _0\"></span>ation and Risk A<span class=\"_ _0\"></span>ppetite approve<span class=\"_ _0\"></span>d by the Board<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs49f\">A fur<span class=\"_ _0\"></span>ther indic<span class=\"_ _0\"></span>ator of the qualit<span class=\"_ _0\"></span>y of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets is the ex<span class=\"_ _0\"></span>tent to which th<span class=\"_ _0\"></span>ey are neithe<span class=\"_ _0\"></span>r past du<span class=\"_ _0\"></span>e nor impaire<span class=\"_ _0\"></span>d. All of the amo<span class=\"_ _0\"></span>unts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a0\">in<span class=\"_ gs47\"> </span>the ta<span class=\"_ _0\"></span>ble above for the c<span class=\"_ _0\"></span>urrent and prior ye<span class=\"_ _0\"></span>ar are neithe<span class=\"_ _0\"></span>r past du<span class=\"_ _0\"></span>e nor impaire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a1\">Addition<span class=\"_ _0\"></span>al life company a<span class=\"_ _0\"></span>sset dis<span class=\"_ _0\"></span>closures are in<span class=\"_ _0\"></span>cluded o<span class=\"_ _0\"></span>n page 3<span class=\"_ _0\"></span>06 and in<span class=\"_ _0\"></span>clude informat<span class=\"_ _0\"></span>ion on the Group\u2019s market expo<span class=\"_ _0\"></span>sure analys<span class=\"_ _0\"></span>ed by credit </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a2\">ratin<span class=\"_ _0\"></span>g, sec<span class=\"_ _0\"></span>tor and co<span class=\"_ _0\"></span>untry of exp<span class=\"_ _0\"></span>osure for the sh<span class=\"_ _0\"></span>areholde<span class=\"_ _0\"></span>r debt por<span class=\"_ _0\"></span>tfolio.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs4a4\">Imp<span class=\"_ _0\"></span>act of c<span class=\"_ _0\"></span>redit ri<span class=\"_ _0\"></span>sk on valu<span class=\"_ _0\"></span>e of finan<span class=\"_ _0\"></span>cial li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies des<span class=\"_ _0\"></span>ignate<span class=\"_ _0\"></span>d at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a5\">The fa<span class=\"_ _0\"></span>ir value of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts and n<span class=\"_ _0\"></span>et asset va<span class=\"_ _0\"></span>lue attr<span class=\"_ _0\"></span>ibutable to unit<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s liabilities are de<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rmined ba<span class=\"_ _0\"></span>sed upo<span class=\"_ _0\"></span>n the per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a6\">as<span class=\"_ _0\"></span>sets ba<span class=\"_ _0\"></span>cking thos<span class=\"_ _0\"></span>e liabilities<span class=\"_ _0\"></span>. This has th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t that the fair va<span class=\"_ _0\"></span>lue of the liabilit<span class=\"_ _0\"></span>y primaril<span class=\"_ _0\"></span>y reflect<span class=\"_ _0\"></span>s ass<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>specific p<span class=\"_ _0\"></span>erfor<span class=\"_ _0\"></span>mance ris<span class=\"_ _0\"></span>k rather tha<span class=\"_ _0\"></span>n </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a7\">credi<span class=\"_ _0\"></span>t risk. As a re<span class=\"_ _0\"></span>sult, the im<span class=\"_ _0\"></span>pact of cre<span class=\"_ _0\"></span>dit risk on the fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al liabilities de<span class=\"_ _0\"></span>signated a<span class=\"_ _0\"></span>t FV<span class=\"_ _0\"></span>TPL is not con<span class=\"_ _0\"></span>sidered to b<span class=\"_ _0\"></span>e significant<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs4a8\">Co<span class=\"_ _0\"></span>ncent<span class=\"_ _0\"></span>ratio<span class=\"_ _0\"></span>n of cred<span class=\"_ _0\"></span>it risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4a9\">Con<span class=\"_ _0\"></span>centratio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit risk mig<span class=\"_ _0\"></span>ht exist whe<span class=\"_ _0\"></span>re the Group or it<span class=\"_ _0\"></span>s insuran<span class=\"_ _0\"></span>ce subsidia<span class=\"_ _0\"></span>ries has sig<span class=\"_ _0\"></span>nificant exp<span class=\"_ _0\"></span>osure to an individ<span class=\"_ _0\"></span>ual counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4aa\">a<span class=\"_ gs47\"> </span>group of co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties with simil<span class=\"_ _0\"></span>ar<span class=\"_ gs47\"> </span>econ<span class=\"_ _0\"></span>omic chara<span class=\"_ _0\"></span>cteris<span class=\"_ _0\"></span>tics that wo<span class=\"_ _0\"></span>uld caus<span class=\"_ _0\"></span>e their abilit<span class=\"_ _0\"></span>y to mee<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>tual oblig<span class=\"_ _0\"></span>ations to be simil<span class=\"_ _0\"></span>arly affe<span class=\"_ _0\"></span>cted </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ab\">by chan<span class=\"_ _0\"></span>ges in ec<span class=\"_ _0\"></span>onomic an<span class=\"_ _0\"></span>d other<span class=\"_ gs47\"> </span>con<span class=\"_ _0\"></span>ditions. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s most of its c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk within it<span class=\"_ _0\"></span>s lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s and is monitore<span class=\"_ _0\"></span>d by the Group </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ac\">Credit Lim<span class=\"_ _0\"></span>it and Counte<span class=\"_ _0\"></span>rpar<span class=\"_ _0\"></span>ty Framewo<span class=\"_ _0\"></span>rk containe<span class=\"_ _0\"></span>d within the Gro<span class=\"_ _0\"></span>up Credit Risk Polic<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. It is f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r provided for in inves<span class=\"_ _0\"></span>tment man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ad\">agre<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s, overlaid by re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y requirem<span class=\"_ _0\"></span>ents an<span class=\"_ _0\"></span>d the monitorin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>ggreg<span class=\"_ _0\"></span>ate counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y expos<span class=\"_ _0\"></span>ures acros<span class=\"_ _0\"></span>s the Group ag<span class=\"_ _0\"></span>ainst a<span class=\"_ _0\"></span>dditional </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ae\">Group c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ty lim<span class=\"_ _0\"></span>its. C<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk in respe<span class=\"_ _0\"></span>ct of over-the-<span class=\"_ _0\"></span>counter de<span class=\"_ _0\"></span>rivative counterp<span class=\"_ _0\"></span>artie<span class=\"_ _0\"></span>s is monitore<span class=\"_ _0\"></span>d using a<span class=\"_ gs47\"> </span>Potential Future </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4af\">E<span class=\"_ _0\"></span>xposure (<span class=\"_ _0\"></span>\u2018PFE\u2019<span class=\"_ _0\"></span>) value metr<span class=\"_ _0\"></span>ic.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b0\">The Gro<span class=\"_ _0\"></span>up is also exp<span class=\"_ _0\"></span>osed to co<span class=\"_ _0\"></span>ncentra<span class=\"_ _0\"></span>tion risk with ou<span class=\"_ _0\"></span>tsourc<span class=\"_ _0\"></span>e partn<span class=\"_ _0\"></span>ers. T<span class=\"_ _0\"></span>he Group op<span class=\"_ _0\"></span>erates a<span class=\"_ gs47\"> </span>poli<span class=\"_ _0\"></span>cy to manag<span class=\"_ _0\"></span>e outs<span class=\"_ _0\"></span>ourcer se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b1\">expo<span class=\"_ _0\"></span>sures and th<span class=\"_ _0\"></span>e impact fro<span class=\"_ _0\"></span>m default is reviewe<span class=\"_ _0\"></span>d regular<span class=\"_ _0\"></span>ly by executive co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>es and me<span class=\"_ _0\"></span>asured th<span class=\"_ _0\"></span>rough stre<span class=\"_ _0\"></span>ss and s<span class=\"_ _0\"></span>cenario te<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls5f ws122 gs4b2\">Reinsurance<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b3\">The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to credit ri<span class=\"_ _0\"></span>sk as a result of ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k transfer c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with reins<span class=\"_ _0\"></span>urers. T<span class=\"_ _0\"></span>he Group\u2019s policy is to pl<span class=\"_ _0\"></span>ace reins<span class=\"_ _0\"></span>urance onl<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b4\">with hig<span class=\"_ _0\"></span>hly rated co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties. T<span class=\"_ _0\"></span>he Group res<span class=\"_ _0\"></span>trict<span class=\"_ _0\"></span>s concent<span class=\"_ _0\"></span>ration with indiv<span class=\"_ _0\"></span>idual ex<span class=\"_ _0\"></span>ternal reins<span class=\"_ _0\"></span>urers by spe<span class=\"_ _0\"></span>cify<span class=\"_ _0\"></span>ing limits on c<span class=\"_ _0\"></span>eding and m<span class=\"_ _0\"></span>inimum </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b5\">con<span class=\"_ _0\"></span>ditions for ac<span class=\"_ _0\"></span>ceptanc<span class=\"_ _0\"></span>e and retention of re<span class=\"_ _0\"></span>insurers<span class=\"_ _0\"></span>. The Group h<span class=\"_ _0\"></span>as made p<span class=\"_ _0\"></span>rogress in in<span class=\"_ _0\"></span>creasin<span class=\"_ _0\"></span>g the numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f<span class=\"_ gs47\"> </span>re<span class=\"_ _0\"></span>insurers it tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>ts with<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b6\">however, an elem<span class=\"_ _0\"></span>ent of conce<span class=\"_ _0\"></span>ntration rema<span class=\"_ _0\"></span>ins due to the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce market and th<span class=\"_ _0\"></span>e restric<span class=\"_ _0\"></span>ted rang<span class=\"_ _0\"></span>e of reinsurers ava<span class=\"_ _0\"></span>ilable. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b7\">Group m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>s its expo<span class=\"_ _0\"></span>sure to reinsuran<span class=\"_ _0\"></span>ce credit r<span class=\"_ _0\"></span>isk through t<span class=\"_ _0\"></span>he operat<span class=\"_ _0\"></span>ion of a credit poli<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, co<span class=\"_ _0\"></span>llateralisa<span class=\"_ _0\"></span>tion, and re<span class=\"_ _0\"></span>gular mo<span class=\"_ _0\"></span>nitoring of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4b8\">expo<span class=\"_ _0\"></span>sures at the Rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Manag<span class=\"_ _0\"></span>ement C<span class=\"_ _0\"></span>ommitte<span class=\"_ _0\"></span>e and other c<span class=\"_ _0\"></span>redit focu<span class=\"_ _0\"></span>sed com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gs4b9\">Collatera<span class=\"_ _0\"></span>l<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ba\">The cre<span class=\"_ _0\"></span>dit risk of the Gro<span class=\"_ _0\"></span>up is mitigate<span class=\"_ _0\"></span>d, in cer<span class=\"_ _0\"></span>tain circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces<span class=\"_ _0\"></span>, by entering into colla<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ral agre<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>. The am<span class=\"_ _0\"></span>ount and t<span class=\"_ _0\"></span>ype of collater<span class=\"_ _0\"></span>al </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4bb\">require<span class=\"_ _0\"></span>d depen<span class=\"_ _0\"></span>ds on an as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of the credi<span class=\"_ _0\"></span>t risk of the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y. Guideline<span class=\"_ _0\"></span>s are impleme<span class=\"_ _0\"></span>nted reg<span class=\"_ _0\"></span>arding the ac<span class=\"_ _0\"></span>ceptabilit<span class=\"_ _0\"></span>y of t<span class=\"_ _0\"></span>ypes of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4bc\">collate<span class=\"_ _0\"></span>ral and the va<span class=\"_ _0\"></span>luation par<span class=\"_ _0\"></span>ameters<span class=\"_ _0\"></span>. Collate<span class=\"_ _0\"></span>ral is mainly o<span class=\"_ _0\"></span>btained in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>tock len<span class=\"_ _0\"></span>ding, ce<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>in reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s and to provide </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4bd\">se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>y agains<span class=\"_ _0\"></span>t the daily ma<span class=\"_ _0\"></span>rk to model val<span class=\"_ _0\"></span>ue of derivative finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>truments<span class=\"_ _0\"></span>. Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt monitors th<span class=\"_ _0\"></span>e market value of the co<span class=\"_ _0\"></span>llateral rec<span class=\"_ _0\"></span>eived, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4be\">requ<span class=\"_ _0\"></span>ests a<span class=\"_ _0\"></span>dditional c<span class=\"_ _0\"></span>ollateral wh<span class=\"_ _0\"></span>en nee<span class=\"_ _0\"></span>ded, an<span class=\"_ _0\"></span>d perfor<span class=\"_ _0\"></span>ms an impairm<span class=\"_ _0\"></span>ent valuation wh<span class=\"_ _0\"></span>en impairme<span class=\"_ _0\"></span>nt indicator<span class=\"_ _0\"></span>s exist<span class=\"_ _0\"></span>. See<span class=\"_ gs47\"> </span>note E4 for fur<span class=\"_ _0\"></span>ther </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs4bf\">informati<span class=\"_ _2\"></span>on on collateral arrangem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs4c0\">E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>2 Market ris<span class=\"_ _0\"></span>k<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c1\">Market risk i<span class=\"_ _0\"></span>s the risk of los<span class=\"_ _0\"></span>s or of adverse c<span class=\"_ _0\"></span>hange in th<span class=\"_ _0\"></span>e financial s<span class=\"_ _0\"></span>ituation res<span class=\"_ _0\"></span>ulting, dire<span class=\"_ _0\"></span>ctly or in<span class=\"_ _0\"></span>directly, from fluc<span class=\"_ _0\"></span>tuation<span class=\"_ _0\"></span>s in the level and in th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c2\">volatilit<span class=\"_ _0\"></span>y of market price<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, liabiliti<span class=\"_ _0\"></span>es and finan<span class=\"_ _0\"></span>cial inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>risk t<span class=\"_ _0\"></span>ypic<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from exposure to e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and fixe<span class=\"_ _0\"></span>d income </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c3\">as<span class=\"_ _0\"></span>set clas<span class=\"_ _0\"></span>ses and th<span class=\"_ _0\"></span>e impact of ch<span class=\"_ _0\"></span>anges in inte<span class=\"_ _0\"></span>rest rate<span class=\"_ _0\"></span>s, inflatio<span class=\"_ _0\"></span>n rates and cur<span class=\"_ _0\"></span>rency exch<span class=\"_ _0\"></span>ange rate<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c4\">The Gro<span class=\"_ _0\"></span>up is mainly ex<span class=\"_ _0\"></span>posed to m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk as a result of<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c5\">\u2022 <span class=\"_ _19\"> </span>the m<span class=\"_ _0\"></span>ismatch bet<span class=\"_ _0\"></span>ween li<span class=\"_ _0\"></span>ability p<span class=\"_ _0\"></span>rofiles and the re<span class=\"_ _0\"></span>lated as<span class=\"_ _0\"></span>set investm<span class=\"_ _0\"></span>ent por<span class=\"_ _0\"></span>tfolios<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c6\">\u2022 <span class=\"_ _19\"> </span>the inves<span class=\"_ _0\"></span>tment of as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld to meet re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capit<span class=\"_ _0\"></span>al and solve<span class=\"_ _0\"></span>ncy require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c7\">\u2022 <span class=\"_ _19\"> </span>the inves<span class=\"_ _0\"></span>tment of surp<span class=\"_ _0\"></span>lus asse<span class=\"_ _0\"></span>ts inclu<span class=\"_ _0\"></span>ding shareh<span class=\"_ _0\"></span>older res<span class=\"_ _0\"></span>erves yet to b<span class=\"_ _0\"></span>e distribute<span class=\"_ _0\"></span>d, surplu<span class=\"_ _0\"></span>s asset<span class=\"_ _0\"></span>s within the with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds and as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c8\">to mee<span class=\"_ _0\"></span>t regulator<span class=\"_ _0\"></span>y cap<span class=\"_ _0\"></span>ital and s<span class=\"_ _0\"></span>olvency re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4c9\">\u2022 <span class=\"_ _19\"> </span>the in<span class=\"_ _0\"></span>come flow of ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent charg<span class=\"_ _0\"></span>es derived f<span class=\"_ _0\"></span>rom the value of investe<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>ts of the busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ca\">The Gro<span class=\"_ _0\"></span>up manag<span class=\"_ _0\"></span>es the levels of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk that it ac<span class=\"_ _0\"></span>cepts thro<span class=\"_ _0\"></span>ugh the op<span class=\"_ _0\"></span>eration of a market risk p<span class=\"_ _0\"></span>olicy usin<span class=\"_ _0\"></span>g a number of cont<span class=\"_ _0\"></span>rols and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4cb\">tech<span class=\"_ _0\"></span>niques incl<span class=\"_ _0\"></span>uding:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4cc\">\u2022 <span class=\"_ _19\"> </span>defin<span class=\"_ _0\"></span>ed list<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ermit<span class=\"_ _0\"></span>ted sec<span class=\"_ _0\"></span>urities and<span class=\"_ _0\"></span>/<span class=\"_ _4\"></span>or app<span class=\"_ _0\"></span>lication of invest<span class=\"_ _0\"></span>ment cons<span class=\"_ _0\"></span>traints an<span class=\"_ _0\"></span>d por<span class=\"_ _0\"></span>tfolio limit<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4cd\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls13 ws14\">clearly defined investment benchm<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>s for policyholder and shareholde<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span> f<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>nds<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ce\">\u2022 <span class=\"_ _19\"> </span>s<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>chas<span class=\"_ _0\"></span>tic and determin<span class=\"_ _0\"></span>istic as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility m<span class=\"_ _0\"></span>odelling;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4cf\">\u2022 <span class=\"_ _19\"> </span>ac<span class=\"_ _0\"></span>tive use of derivat<span class=\"_ _0\"></span>ives to improve the match<span class=\"_ _0\"></span>ing chara<span class=\"_ _0\"></span>cteris<span class=\"_ _0\"></span>tics of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities and to re<span class=\"_ _0\"></span>duce the ri<span class=\"_ _0\"></span>sk exposure of a p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d0\">\u2022 <span class=\"_ _19\"> </span>set<span class=\"_ _0\"></span>ting ris<span class=\"_ _0\"></span>k limits for main m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et r<span class=\"_ _0\"></span>isks and man<span class=\"_ _0\"></span>aging exp<span class=\"_ _0\"></span>osures ag<span class=\"_ _0\"></span>ainst th<span class=\"_ _0\"></span>ese appe<span class=\"_ _0\"></span>tites.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d1\">All ope<span class=\"_ _0\"></span>rations co<span class=\"_ _0\"></span>mply with reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y requireme<span class=\"_ _0\"></span>nts relatin<span class=\"_ _0\"></span>g to the taking of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ris<span class=\"_ _0\"></span>k.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs4d2\">As<span class=\"_ _0\"></span>sets in the s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>er funds are m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d again<span class=\"_ _0\"></span>st benc<span class=\"_ _0\"></span>hmarks that e<span class=\"_ _0\"></span>nsure they are dive<span class=\"_ _0\"></span>rsified a<span class=\"_ _0\"></span>cross a ra<span class=\"_ _0\"></span>nge of ass<span class=\"_ _0\"></span>et clas<span class=\"_ _0\"></span>ses, in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs4d3\">ge<span class=\"_ _0\"></span>ographi<span class=\"_ _0\"></span>es that are app<span class=\"_ _0\"></span>ropriate to the liabili<span class=\"_ _0\"></span>ties of the fund<span class=\"_ _0\"></span>s or are held to matc<span class=\"_ _0\"></span>h the cash fl<span class=\"_ _0\"></span>ows anticipate<span class=\"_ _0\"></span>d to arise in the b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>. A combin<span class=\"_ _0\"></span>ation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs4d4\">of limits by n<span class=\"_ _0\"></span>ame of issue<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, se<span class=\"_ _0\"></span>ctor<span class=\"_ _2\"></span>, ge<span class=\"_ _0\"></span>ograp<span class=\"_ _0\"></span>hical re<span class=\"_ _0\"></span>gion and cre<span class=\"_ _0\"></span>dit rating are us<span class=\"_ _0\"></span>ed where re<span class=\"_ _0\"></span>levant to reduc<span class=\"_ _0\"></span>e conce<span class=\"_ _0\"></span>ntration risk am<span class=\"_ _0\"></span>ong the as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d5\">The as<span class=\"_ _0\"></span>sets of th<span class=\"_ _0\"></span>e parti<span class=\"_ _0\"></span>cipating bus<span class=\"_ _0\"></span>iness are p<span class=\"_ _0\"></span>rincipally m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d to suppor<span class=\"_ _0\"></span>t the liabilit<span class=\"_ _0\"></span>ies of the par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s and are app<span class=\"_ _0\"></span>ropriately </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d6\">divers<span class=\"_ _0\"></span>ified by<span class=\"_ gs47\"> </span>both as<span class=\"_ _0\"></span>set clas<span class=\"_ _0\"></span>s and ge<span class=\"_ _0\"></span>ograp<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>y, cons<span class=\"_ _0\"></span>idering:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d7\">\u2022 <span class=\"_ _19\"> </span>the e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic liabilit<span class=\"_ _0\"></span>y and how this vari<span class=\"_ _0\"></span>es with market con<span class=\"_ _0\"></span>ditions;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d8\">\u2022 <span class=\"_ _19\"> </span>the n<span class=\"_ _0\"></span>eed to inves<span class=\"_ _0\"></span>t asset<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ting pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>ting busine<span class=\"_ _0\"></span>ss in a mann<span class=\"_ _0\"></span>er consis<span class=\"_ _0\"></span>tent with the p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ating polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s\u2019 reason<span class=\"_ _0\"></span>able expe<span class=\"_ _0\"></span>ctation<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4d9\">and Prin<span class=\"_ _0\"></span>ciples and Pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>es of Financi<span class=\"_ _0\"></span>al Manag<span class=\"_ _0\"></span>ement (<span class=\"_ _0\"></span>\u2018PPFM<span class=\"_ _0\"></span>\u2019)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4da\">\u2022 <span class=\"_ _19\"> </span>the n<span class=\"_ _0\"></span>eed to en<span class=\"_ _0\"></span>sure that reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y and capit<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents are me<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4db\">In pra<span class=\"_ _0\"></span>ctice, a<span class=\"_ _0\"></span>n element of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk arises a<span class=\"_ _0\"></span>s a conse<span class=\"_ _0\"></span>quence of th<span class=\"_ _0\"></span>e need to b<span class=\"_ _0\"></span>alance th<span class=\"_ _0\"></span>ese con<span class=\"_ _0\"></span>sideration<span class=\"_ _0\"></span>s, for exam<span class=\"_ _0\"></span>ple, in cer<span class=\"_ _0\"></span>tain ins<span class=\"_ _0\"></span>tanc<span class=\"_ _0\"></span>es </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4dc\">par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g policyh<span class=\"_ _0\"></span>olders m<span class=\"_ _0\"></span>ay expec<span class=\"_ _0\"></span>t that equit<span class=\"_ _0\"></span>y market risk will b<span class=\"_ _0\"></span>e taken on their b<span class=\"_ _0\"></span>ehalf, and deriv<span class=\"_ _0\"></span>ative instrum<span class=\"_ _0\"></span>ents may b<span class=\"_ _0\"></span>e used to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls11 ws11 gs4dd\">manage these<span class=\"_ _2\"></span> risks.<span class=\"_ _3bd\"> </span></div>Markets re<span class=\"_ _0\"></span>tain the potent<span class=\"_ _0\"></span>ial to be volatile pa<span class=\"_ _0\"></span>rticul<span class=\"_ _0\"></span>arly given ge<span class=\"_ _0\"></span>opolitic<span class=\"_ _0\"></span>al inst<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, with es<span class=\"_ _0\"></span>calation of re<span class=\"_ _0\"></span>gional c<span class=\"_ _0\"></span>onflicts a<span class=\"_ _0\"></span>nd increa<span class=\"_ _0\"></span>sing protec<span class=\"_ _0\"></span>tionist polic<span class=\"_ _0\"></span>ies able to resul<span class=\"_ _0\"></span>t in increas<span class=\"_ _0\"></span>ed inflation<span class=\"_ _0\"></span>ary pre<span class=\"_ _0\"></span>ssures d<span class=\"_ _0\"></span>ue to global p<span class=\"_ _0\"></span>olicy chan<span class=\"_ _0\"></span>ges and s<span class=\"_ _0\"></span>upply chan<span class=\"_ _0\"></span>ge disrupti<span class=\"_ _0\"></span>on. More de<span class=\"_ _0\"></span>tail is<span class=\"_ gs47\"> </span>covered w<span class=\"_ _0\"></span>ithin the Prin<span class=\"_ _0\"></span>cipal Risks se<span class=\"_ _0\"></span>ction wit<span class=\"_ _0\"></span>hin the Group\u2019s Annual Re<span class=\"_ _0\"></span>port a<span class=\"_ _0\"></span>nd Acco<span class=\"_ _0\"></span>unts. Inte<span class=\"_ _0\"></span>rest r<span class=\"_ _0\"></span>ate and i<span class=\"_ _0\"></span>nflatio<span class=\"_ _0\"></span>n risk<span class=\"_ _3bd\"> </span>Interes<span class=\"_ _0\"></span>t rate risk is th<span class=\"_ _0\"></span>e risk that the f<span class=\"_ _0\"></span>air value of future c<span class=\"_ _0\"></span>ash flows of a fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument will fl<span class=\"_ _0\"></span>uctuate rel<span class=\"_ _0\"></span>ative to the respe<span class=\"_ _0\"></span>ctive liabilit<span class=\"_ _0\"></span>y due to th<span class=\"_ _0\"></span>e impac<span class=\"_ _0\"></span>t of chang<span class=\"_ _0\"></span>es in market interes<span class=\"_ _0\"></span>t rates on the val<span class=\"_ _0\"></span>ue of interest-be<span class=\"_ _0\"></span>aring as<span class=\"_ _0\"></span>sets and o<span class=\"_ _0\"></span>n the value of fut<span class=\"_ _0\"></span>ure guarante<span class=\"_ _0\"></span>es provided un<span class=\"_ _0\"></span>der cer<span class=\"_ _0\"></span>tain contr<span class=\"_ _0\"></span>acts of ins<span class=\"_ _0\"></span>urance. T<span class=\"_ _0\"></span>he parag<span class=\"_ _0\"></span>raphs in this s<span class=\"_ _0\"></span>ection a<span class=\"_ _0\"></span>lso apply to infl<span class=\"_ _0\"></span>ation risk<span class=\"_ _0\"></span>, but referenc<span class=\"_ _0\"></span>es to fixed rate as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liabilities wo<span class=\"_ _0\"></span>uld be repla<span class=\"_ _0\"></span>ced with ind<span class=\"_ _0\"></span>ex-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is require<span class=\"_ _0\"></span>d to manage i<span class=\"_ _0\"></span>ts interes<span class=\"_ _0\"></span>t rate exposure<span class=\"_ _0\"></span>s in line with quali<span class=\"_ _0\"></span>tative risk app<span class=\"_ _0\"></span>etite state<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, quantitat<span class=\"_ _0\"></span>ive risk metric<span class=\"_ _0\"></span>s and any addi<span class=\"_ _0\"></span>tional hed<span class=\"_ _0\"></span>ging ben<span class=\"_ _0\"></span>chmarks<span class=\"_ _0\"></span>. Interest r<span class=\"_ _0\"></span>ate risk is man<span class=\"_ _0\"></span>aged by m<span class=\"_ _0\"></span>atching as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities whe<span class=\"_ _0\"></span>re practi<span class=\"_ _0\"></span>cable an<span class=\"_ _0\"></span>d by entering into deriv<span class=\"_ _0\"></span>ative arrang<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span> for he<span class=\"_ _0\"></span>dging purp<span class=\"_ _0\"></span>oses whe<span class=\"_ _0\"></span>re appropriate<span class=\"_ _0\"></span>. This is par<span class=\"_ _0\"></span>ticularl<span class=\"_ _0\"></span>y the case fo<span class=\"_ _0\"></span>r the non-pa<span class=\"_ _0\"></span>rticip<span class=\"_ _0\"></span>ating funds an<span class=\"_ _0\"></span>d suppor<span class=\"_ _0\"></span>ted par<span class=\"_ _0\"></span>ticipat<span class=\"_ _0\"></span>ing funds<span class=\"_ _0\"></span>. The market risks ari<span class=\"_ _0\"></span>sing from par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s are born prim<span class=\"_ _0\"></span>arily by the with<span class=\"_ _0\"></span>-profits poli<span class=\"_ _0\"></span>cyholde<span class=\"_ _0\"></span>rs. M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk exposure<span class=\"_ _0\"></span>s, incl<span class=\"_ _0\"></span>uding the exp<span class=\"_ _0\"></span>osure to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _0\"></span>, are set with t<span class=\"_ _0\"></span>he aims of (i) ensur<span class=\"_ _0\"></span>ing that the wit<span class=\"_ _0\"></span>h-profits fun<span class=\"_ _0\"></span>ds are stron<span class=\"_ _0\"></span>g enough to h<span class=\"_ _0\"></span>onour gu<span class=\"_ _0\"></span>arantees a<span class=\"_ _0\"></span>nd to smooth inves<span class=\"_ _0\"></span>tment retur<span class=\"_ _0\"></span>ns, an<span class=\"_ _0\"></span>d (ii) to optimis<span class=\"_ _0\"></span>e the risks and ret<span class=\"_ _0\"></span>urns for with-profi<span class=\"_ _0\"></span>ts polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s, takin<span class=\"_ _0\"></span>g into acco<span class=\"_ _0\"></span>unt previous unde<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>kings ma<span class=\"_ _0\"></span>de to policyh<span class=\"_ _0\"></span>olders a<span class=\"_ _0\"></span>s well as leg<span class=\"_ _0\"></span>al and reg<span class=\"_ _0\"></span>ulatory re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s.. In p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e, the life comp<span class=\"_ _0\"></span>anies of the Gro<span class=\"_ _0\"></span>up maintain an<span class=\"_ gs47\"> </span>ap<span class=\"_ _0\"></span>propriate mix of fixe<span class=\"_ _0\"></span>d and variab<span class=\"_ _0\"></span>le rate instr<span class=\"_ _0\"></span>uments ac<span class=\"_ _0\"></span>cording to the und<span class=\"_ _0\"></span>erlying ins<span class=\"_ _0\"></span>urance or inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s and will review thi<span class=\"_ _0\"></span>s at regular inte<span class=\"_ _0\"></span>rvals to en<span class=\"_ _0\"></span>sure that overall e<span class=\"_ _0\"></span>xposure is kept within th<span class=\"_ _0\"></span>e risk profile agre<span class=\"_ _0\"></span>ed for eac<span class=\"_ _0\"></span>h part<span class=\"_ _0\"></span>icular fund<span class=\"_ _0\"></span>. This also re<span class=\"_ _0\"></span>quires the ma<span class=\"_ _0\"></span>turity p<span class=\"_ _0\"></span>rofile of these as<span class=\"_ _0\"></span>sets to<span class=\"_ gs47\"> </span>b<span class=\"_ _0\"></span>e manag<span class=\"_ _0\"></span>ed in line with th<span class=\"_ _0\"></span>e liabilities to po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>ers.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis for interest r<span class=\"_ _0\"></span>ate and inflation r<span class=\"_ _0\"></span>isk indicate<span class=\"_ _0\"></span>s how chan<span class=\"_ _0\"></span>ges in the fair va<span class=\"_ _0\"></span>lue or future c<span class=\"_ _0\"></span>ash flows of a fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument ari<span class=\"_ _0\"></span>sing from chan<span class=\"_ _0\"></span>ges in mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et intere<span class=\"_ _0\"></span>st and inflat<span class=\"_ _0\"></span>ion rates at the re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing date result in a ch<span class=\"_ _0\"></span>ange in profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x, eq<span class=\"_ _0\"></span>uity an<span class=\"_ _0\"></span>d CSM<span class=\"_ _0\"></span>. It takes into acc<span class=\"_ _0\"></span>ount the ef<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ct of such ch<span class=\"_ _0\"></span>anges in m<span class=\"_ _0\"></span>arket interest an<span class=\"_ _0\"></span>d inflation rates o<span class=\"_ _0\"></span>n all asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies that contr<span class=\"_ _0\"></span>ibute to the Group\u2019s repor<span class=\"_ _0\"></span>ted profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x and in equit<span class=\"_ _0\"></span>y.<span class=\"_ _3bd\"> </span>With-p<span class=\"_ _0\"></span>rofits busin<span class=\"_ _0\"></span>ess and n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s within the with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds are expos<span class=\"_ _0\"></span>ed to interes<span class=\"_ _0\"></span>t rate risk as gu<span class=\"_ _0\"></span>arantee<span class=\"_ _0\"></span>d liabilities are value<span class=\"_ _0\"></span>d relative to market interes<span class=\"_ _0\"></span>t rates and inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s include fixe<span class=\"_ _0\"></span>d interest s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and derivat<span class=\"_ _0\"></span>ives. For uns<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>ted with-profit<span class=\"_ _0\"></span>s busine<span class=\"_ _0\"></span>ss the profit or lo<span class=\"_ _0\"></span>ss arising f<span class=\"_ _0\"></span>rom mismatch<span class=\"_ _0\"></span>es bet<span class=\"_ _0\"></span>ween suc<span class=\"_ _0\"></span>h asset<span class=\"_ _0\"></span>s and liabilitie<span class=\"_ _0\"></span>s is largel<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>fset by in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d or reduc<span class=\"_ _0\"></span>ed discret<span class=\"_ _0\"></span>ionar<span class=\"_ _0\"></span>y policyh<span class=\"_ _0\"></span>older ben<span class=\"_ _0\"></span>efits dep<span class=\"_ _0\"></span>endent on th<span class=\"_ _0\"></span>e existen<span class=\"_ _0\"></span>ce of policyh<span class=\"_ _0\"></span>older gu<span class=\"_ _0\"></span>arantees<span class=\"_ _0\"></span>. The cont<span class=\"_ _0\"></span>ribution of unsup<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d part<span class=\"_ _0\"></span>icipating bu<span class=\"_ _0\"></span>siness to th<span class=\"_ _0\"></span>e Group result i<span class=\"_ _0\"></span>s large<span class=\"_ _0\"></span>ly limited to the s<span class=\"_ _0\"></span>harehol<span class=\"_ _0\"></span>ders\u2019 share of bo<span class=\"_ _0\"></span>nuses<span class=\"_ _0\"></span>. The contr<span class=\"_ _0\"></span>ibution of the sup<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>ticipating bu<span class=\"_ _0\"></span>siness to th<span class=\"_ _0\"></span>e Group result i<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d in<span class=\"_ gs47\"> </span>line with I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>, which exp<span class=\"_ _0\"></span>oses th<span class=\"_ _0\"></span>e sharehol<span class=\"_ _0\"></span>der to chan<span class=\"_ _0\"></span>ges in the val<span class=\"_ _0\"></span>ue of the liabilities b<span class=\"_ _0\"></span>acked by share<span class=\"_ _0\"></span>holder as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd the value of c<span class=\"_ _0\"></span>apital advan<span class=\"_ _0\"></span>ced to the wi<span class=\"_ _0\"></span>th-profits f<span class=\"_ _0\"></span>unds. In the n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating f<span class=\"_ _0\"></span>unds, p<span class=\"_ _0\"></span>olicy liabilit<span class=\"_ _0\"></span>ies\u2019 sensiti<span class=\"_ _0\"></span>vity to intere<span class=\"_ _0\"></span>st rates are m<span class=\"_ _0\"></span>atched pr<span class=\"_ _0\"></span>imarily with de<span class=\"_ _0\"></span>bt securit<span class=\"_ _0\"></span>ies and he<span class=\"_ _0\"></span>dging if ne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary to match d<span class=\"_ _0\"></span>uration on a reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y basis for the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s S<span class=\"_ _0\"></span>olvency I<span class=\"_ _0\"></span>I position<span class=\"_ _0\"></span>, with the res<span class=\"_ _0\"></span>ult that sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y to chang<span class=\"_ _0\"></span>es in interest r<span class=\"_ _0\"></span>ates is ver<span class=\"_ _0\"></span>y low<span class=\"_ _2\"></span>. T<span class=\"_ _0\"></span>he Group\u2019s expos<span class=\"_ _0\"></span>ure to interest rate<span class=\"_ _0\"></span>s on an IFRS b<span class=\"_ _0\"></span>asis princip<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from the Group\u2019s hedg<span class=\"_ _0\"></span>ing strate<span class=\"_ _0\"></span>gy to protec<span class=\"_ _0\"></span>t the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>osition, which re<span class=\"_ _0\"></span>sults in an ad<span class=\"_ _0\"></span>verse impa<span class=\"_ _0\"></span>ct on profit on a<span class=\"_ _0\"></span>n increas<span class=\"_ _0\"></span>e in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest rate<span class=\"_ _0\"></span>s. The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to inflation ris<span class=\"_ _0\"></span>k through c<span class=\"_ _0\"></span>erta<span class=\"_ _0\"></span>in contrac<span class=\"_ _0\"></span>ts, s<span class=\"_ _0\"></span>uch as annu<span class=\"_ _0\"></span>ities, wh<span class=\"_ _0\"></span>ich may provide for f<span class=\"_ _0\"></span>uture benefi<span class=\"_ _0\"></span>ts to be paid t<span class=\"_ _0\"></span>aking ac<span class=\"_ _0\"></span>count of chan<span class=\"_ _0\"></span>ges in the leve<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>ed and imp<span class=\"_ _0\"></span>lied inflation<span class=\"_ _0\"></span>, and als<span class=\"_ _0\"></span>o through th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ost bas<span class=\"_ _0\"></span>e. The Group s<span class=\"_ _0\"></span>eeks to man<span class=\"_ _0\"></span>age inflati<span class=\"_ _0\"></span>on risk within the ALM fr<span class=\"_ _0\"></span>amework thro<span class=\"_ _0\"></span>ugh the hol<span class=\"_ _0\"></span>ding of derivatives<span class=\"_ _0\"></span>, such a<span class=\"_ _0\"></span>s inflation swap<span class=\"_ _0\"></span>s, or physic<span class=\"_ _0\"></span>al posit<span class=\"_ _0\"></span>ions in relevant a<span class=\"_ _0\"></span>ssets<span class=\"_ _0\"></span>, such a<span class=\"_ _0\"></span>s index-linked gilt<span class=\"_ _0\"></span>s, where appropri<span class=\"_ _2\"></span>ate.<span class=\"_ _3bd\"> </span>The intere<span class=\"_ _0\"></span>st rate se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y reflec<span class=\"_ _0\"></span>ts a 10<span class=\"_ _0\"></span>0bps ch<span class=\"_ _0\"></span>ange in ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-free yie<span class=\"_ _0\"></span>lds at eac<span class=\"_ _0\"></span>h time step on th<span class=\"_ _0\"></span>e risk-<span class=\"_ _2\"></span>fre<span class=\"_ _0\"></span>e curve ap<span class=\"_ _0\"></span>plied to as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities as at the ba<span class=\"_ _0\"></span>lance sh<span class=\"_ _0\"></span>eet date.<span class=\"_ gs47\"> </span> Th<span class=\"_ _0\"></span>e illiquidit<span class=\"_ _0\"></span>y premium use<span class=\"_ _0\"></span>d in the mea<span class=\"_ _0\"></span>surement of ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, and a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, as an addit<span class=\"_ _0\"></span>ion to the risk-free cur<span class=\"_ _0\"></span>ve does not c<span class=\"_ _0\"></span>hange a<span class=\"_ _0\"></span>s a result of this se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5db h24f\" id=\"_ab27d388-f861-4984-944f-7a8f5f85a781\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5dd2 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5dd2 w5dc h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa31 h29 y5dd3 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5dd3 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3ba h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit  </td><td class=\"t m0 x2e5 h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5dd4 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5dd4 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5dd4 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 x936 h29 y5dd5 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd05 h29 y5dd5 ff3 fs5 fc3 sc0 ls22 ws24\">after tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd06 h29 y5dd5 ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5dd5 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xd08 ha y5dd5 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5dd5 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5dd5 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa2c h29 y5dd6 ff3 fs5 fc3 sc0 ls22 ws24\">interest rate<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dd7 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd09 y5dd7 w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0a y5dd7 w5df h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,717<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0b y5dd7 w5e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,717<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0c y5dd7 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0d y5dd7 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,9<span class=\"_ _0\"></span>46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0e y5dd7 w1a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0f y5dd7 w204 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dd8 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd10 y5dd8 w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd11 y5dd8 w5e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd12 y5dd8 w5e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd13 y5dd8 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd14 y5dd8 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>935<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd15 y5dd8 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>935<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd16 y5dd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dd9 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5dda w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd17 y5dda w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd18 y5dda w5e6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd19 y5dda w5e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3,<span class=\"_ _0\"></span>991<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1a y5dda we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1b y5dda w1f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4,3<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1c y5dda w1f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4,3<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1d y5dda wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5ddb ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ddc w5e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">inv<span class=\"_ _2\"></span>estment con<span class=\"_ _2\"></span>tract without<span class=\"_ _2\"></span> DPF balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1e y5ddc w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1f y5ddc w5e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,095<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd20 y5ddc w5ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,0<span class=\"_ _0\"></span>95)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd21 y5ddc w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd22 y5ddc w31c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd23 y5ddc w31c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>934)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd24 y5ddc wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ddd w5eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd25 y5ddd w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd26 y5ddd w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd27 y5ddd w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(168)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd28 y5ddd we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd29 y5ddd w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>222)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2a y5ddd w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>222)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2b y5ddd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dde w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2c y5dde w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2d y5dde w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5dde w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2e y5dde w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2f y5dde wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd30 y5dde w4b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd31 y5dde wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x934 y5ddf w5ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(4<span class=\"_ _0\"></span>40)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd32 y5ddf w5ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>313)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd33 y5ddf w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd34 y5ddf w1e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(60<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd35 y5ddf w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(3<span class=\"_ _0\"></span>35)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd36 y5ddf w1b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5de0 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd37 y5de0 w5ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd38 y5de0 w5f0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4<span class=\"_ _0\"></span>,493)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd39 y5de0 w279 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4<span class=\"_ _0\"></span>,49<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3a y5de0 w1d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3b y5de0 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>821<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3c y5de0 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>821<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3d y5de0 w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5de1 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3e y5de1 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3f y5de1 w5f3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>431<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd40 y5de1 w5f3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>431<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd41 y5de1 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd42 y5de1 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>216<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd43 y5de1 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>216<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd44 y5de1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5de2 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5de3 w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd45 y5de3 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd46 y5de3 w59d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,885<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd47 y5de3 w144 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,8<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd48 y5de3 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4db y5de3 w5f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">5,<span class=\"_ _0\"></span>390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd49 y5de3 w442 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">5,<span class=\"_ _0\"></span>390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b8 y5de3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5de4 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5de5 w5e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">inv<span class=\"_ _2\"></span>estment con<span class=\"_ _2\"></span>tract without<span class=\"_ _2\"></span> DPF balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4a y5de5 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4b y5de5 w5f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>428<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4c y5de5 w5f6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>428<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4d y5de5 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4e y5de5 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,21<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4f y5de5 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>215<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd50 y5de5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 w5eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd51 y5c34 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd52 y5c34 w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd53 y5c34 w4f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd54 y5c34 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd55 y5c34 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd56 y5c34 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd57 y5c34 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd58 y5b43 w5f7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd59 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5a y5b43 w1f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(155<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5b y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5c y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5d y5b43 w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>338)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5e y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x928 y5b4c w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">558<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5f y5b4c w169 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">403<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd60 y5b4c w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd61 y5b4c w24a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd62 y5b4c w240 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">452<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd63 y5b4c w1b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs508\">The infl<span class=\"_ _0\"></span>ation sensi<span class=\"_ _0\"></span>tivity refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s a 100<span class=\"_ _0\"></span>bps chan<span class=\"_ _0\"></span>ge in future infl<span class=\"_ _0\"></span>ation rates at e<span class=\"_ _0\"></span>ach time s<span class=\"_ _0\"></span>tep on the inflatio<span class=\"_ _0\"></span>n curve, w<span class=\"_ _0\"></span>ith no chan<span class=\"_ _0\"></span>ge in the risk-free </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs509\">interes<span class=\"_ _0\"></span>t rate cur<span class=\"_ _0\"></span>ve. The illiquidit<span class=\"_ _0\"></span>y premium u<span class=\"_ _0\"></span>sed in the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, and ass<span class=\"_ _0\"></span>ociated re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, as an additio<span class=\"_ _0\"></span>n to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs50a\">the ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-free intere<span class=\"_ _0\"></span>st rate cur<span class=\"_ _0\"></span>ve is adj<span class=\"_ _0\"></span>usted to refle<span class=\"_ _0\"></span>ct the imp<span class=\"_ _0\"></span>act on valu<span class=\"_ _0\"></span>es of inflation-linked ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s includ<span class=\"_ _0\"></span>ed within the refere<span class=\"_ _0\"></span>nce por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lio used </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs50b\">to determin<span class=\"_ _0\"></span>e the illiquidit<span class=\"_ _0\"></span>y premium<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs50c\"><table class=\"s w5f8 h250\" id=\"_fdd200cc-4ab4-45b4-ba2e-5d266529233f\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5de6 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5de6 w5dc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3a4 ha y5de7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5de7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3ba ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">profi<span class=\"_ _0\"></span>t  </td><td class=\"t m0 xcbd ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5de8 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 x936 h29 y5de9 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd05 ha y5de9 ff2 fs5 fc3 sc0 ls1 ws1\">af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x490 ha y5de9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 ha y5de9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM</td><td class=\"t m0 xd08 ha y5de9 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5de9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5de9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2e3 h29 y5dea ff3 fs5 fc3 sc0 lsa6 wsa1\">inflation<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5deb w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd09 y5deb w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd64 y5deb w279 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,18<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd65 y5deb w279 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,18<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd66 y5deb w331 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd67 y5deb w5f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>179<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd68 y5deb w31d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>179<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd69 y5deb wc3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dec w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd10 y5dec w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6a y5dec w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6b y5dec w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6c y5dec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6d y5dec w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6e y5dec w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6f y5dec wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ded ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking insur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dee w5fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">and rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd70 y5dee w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd71 y5dee w5fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd72 y5dee w5c4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd73 y5dee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd74 y5dee w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd75 y5dee w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd76 y5dee we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5def ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df0 w5fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">contract<span class=\"_ _2\"></span> without DPF<span class=\"_ _2\"></span> balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd77 y5df0 w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd78 y5df0 w166 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd79 y5df0 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7a y5df0 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7b y5df0 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7c y5df0 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df1 w130 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2c y5df1 w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2d y5df1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7d y5df1 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(11<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7e y5df1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7f y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd80 y5df1 w5fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x928 y5df2 w25a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd81 y5df2 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">375<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd82 y5df2 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd83 y5df2 w2c7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd84 y5df2 w533 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">174<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd85 y5df2 wc3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5df3 w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd37 y5df3 w5ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd86 y5df3 w25e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _1\"></span>,1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd87 y5df3 w50 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd88 y5df3 w136 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd89 y5df3 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,096<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8a y5df3 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,096<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8b y5df3 w4ef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5df4 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8c y5df4 w5f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8d y5df4 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58e y5df4 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8e y5df4 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8f y5df4 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd90 y5df4 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd91 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5df5 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking insur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w5fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd92 y5b12 w5f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd93 y5b12 w5fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd94 y5b12 w8c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd95 y5b12 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd96 y5b12 w329 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,30<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd97 y5b12 w329 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,30<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd98 y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5df6 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w5fc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">contract<span class=\"_ _2\"></span> without DPF<span class=\"_ _2\"></span> balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd99 y5b24 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9a y5b24 w5ff h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9b y5b24 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9c y5b24 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9d y5b24 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9e y5b24 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd58 y5b25 w5f7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd59 y5b25 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda0 y5b25 w2ae h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">109<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda1 y5b25 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda2 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda3 y5b25 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda4 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x934 y5a16 w600 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda5 y5a16 w601 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda6 y5a16 w602 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda7 y5a16 w603 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>213<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda8 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd36 y5a16 w345 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs50d\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs50e\">Equity and property risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs50f\">The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to the risk of re<span class=\"_ _0\"></span>duction<span class=\"_ _0\"></span>s in the valuation of e<span class=\"_ _0\"></span>quities (or chan<span class=\"_ _0\"></span>ges in the vol<span class=\"_ _0\"></span>atility) or prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y investm<span class=\"_ _0\"></span>ents whic<span class=\"_ _0\"></span>h could res<span class=\"_ _0\"></span>ult in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs510\">redu<span class=\"_ _0\"></span>ctions in as<span class=\"_ _0\"></span>set value<span class=\"_ _0\"></span>s and los<span class=\"_ _0\"></span>ses for polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs or share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. In this c<span class=\"_ _0\"></span>ontext, e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y asset<span class=\"_ _0\"></span>s should b<span class=\"_ _0\"></span>e taken to include s<span class=\"_ _0\"></span>hares<span class=\"_ _0\"></span>, equit<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs511\">deriva<span class=\"_ _0\"></span>tives, e<span class=\"_ _0\"></span>quity c<span class=\"_ _0\"></span>ollect<span class=\"_ _0\"></span>ives and unlis<span class=\"_ _0\"></span>ted equitie<span class=\"_ _0\"></span>s. Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y asse<span class=\"_ _0\"></span>ts inclu<span class=\"_ _0\"></span>de direct prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ment, sh<span class=\"_ _0\"></span>ares in prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y compan<span class=\"_ _0\"></span>ies, pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs512\">colle<span class=\"_ _0\"></span>ctives an<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs513\">The p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio of marketable e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y investm<span class=\"_ _0\"></span>ents which is c<span class=\"_ _0\"></span>arried in th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posit<span class=\"_ _0\"></span>ion at fair </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs514\">value h<span class=\"_ _0\"></span>as<span class=\"_ gs47\"> </span>exposure to p<span class=\"_ _0\"></span>rice risk<span class=\"_ _0\"></span>. The Group\u2019s obje<span class=\"_ _0\"></span>ctive in holdin<span class=\"_ _0\"></span>g these as<span class=\"_ _0\"></span>sets i<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>arn highe<span class=\"_ _0\"></span>r long-term ret<span class=\"_ _0\"></span>urns by investing in a di<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rse por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lio </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs515\">of equiti<span class=\"_ _0\"></span>es and prop<span class=\"_ _0\"></span>ertie<span class=\"_ _0\"></span>s. Port<span class=\"_ _0\"></span>folio cha<span class=\"_ _0\"></span>racteris<span class=\"_ _0\"></span>tics are a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>d regular<span class=\"_ _0\"></span>ly and price r<span class=\"_ _0\"></span>isks are active<span class=\"_ _0\"></span>ly manag<span class=\"_ _0\"></span>ed in line with inve<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>andates<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs516\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s hol<span class=\"_ _0\"></span>dings are diver<span class=\"_ _0\"></span>sified ac<span class=\"_ _0\"></span>ross indus<span class=\"_ _0\"></span>tries an<span class=\"_ _0\"></span>d concent<span class=\"_ _0\"></span>rations in any one c<span class=\"_ _0\"></span>ompany or ind<span class=\"_ _0\"></span>ustr<span class=\"_ _0\"></span>y are limited.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs517\">Equit<span class=\"_ _0\"></span>y and prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y price ri<span class=\"_ _0\"></span>sk is primarily b<span class=\"_ _0\"></span>orne in resp<span class=\"_ _0\"></span>ect of as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld in with-profit<span class=\"_ _0\"></span>s funds<span class=\"_ _0\"></span>, unit-linked funds or e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y release m<span class=\"_ _0\"></span>ortg<span class=\"_ _0\"></span>ages in th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs518\">non-p<span class=\"_ _0\"></span>rofit funds<span class=\"_ _0\"></span>. For unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d funds this ri<span class=\"_ _0\"></span>sk is borne by p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and a<span class=\"_ _0\"></span>sset movem<span class=\"_ _0\"></span>ents dire<span class=\"_ _0\"></span>ctly impa<span class=\"_ _0\"></span>ct unit price<span class=\"_ _0\"></span>s and hen<span class=\"_ _0\"></span>ce policy v<span class=\"_ _0\"></span>alues. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs519\">For with-p<span class=\"_ _0\"></span>rofits funds p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lders\u2019 fut<span class=\"_ _0\"></span>ure bonuse<span class=\"_ _0\"></span>s will be impac<span class=\"_ _0\"></span>ted by the inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s achieved an<span class=\"_ _0\"></span>d henc<span class=\"_ _0\"></span>e the price ris<span class=\"_ _0\"></span>k, whilst t<span class=\"_ _0\"></span>he Group </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs51a\">also h<span class=\"_ _0\"></span>as expos<span class=\"_ _0\"></span>ure to the value of gua<span class=\"_ _0\"></span>rantees provid<span class=\"_ _0\"></span>ed to with-profit<span class=\"_ _0\"></span>s policy<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. In addi<span class=\"_ _0\"></span>tion, som<span class=\"_ _0\"></span>e equit<span class=\"_ _0\"></span>y investme<span class=\"_ _0\"></span>nts are hel<span class=\"_ _0\"></span>d in respec<span class=\"_ _0\"></span>t of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs51b\">share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 f<span class=\"_ _0\"></span>unds. For th<span class=\"_ _0\"></span>e non-profit f<span class=\"_ _0\"></span>und proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y price risk fro<span class=\"_ _0\"></span>m equit<span class=\"_ _0\"></span>y releas<span class=\"_ _0\"></span>e mortg<span class=\"_ _0\"></span>ages i<span class=\"_ _0\"></span>s borne by the Gro<span class=\"_ _0\"></span>up with the aim of ac<span class=\"_ _0\"></span>hieving </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs51c\">greate<span class=\"_ _0\"></span>r diversific<span class=\"_ _0\"></span>ation and inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s, con<span class=\"_ _0\"></span>sistent with th<span class=\"_ _0\"></span>e Strategi<span class=\"_ _0\"></span>c Asset A<span class=\"_ _0\"></span>llocation a<span class=\"_ _0\"></span>pproved by the Bo<span class=\"_ _0\"></span>ard. The Gro<span class=\"_ _0\"></span>up as a whole is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs51d\">expo<span class=\"_ _0\"></span>sed to pric<span class=\"_ _0\"></span>e risk fluct<span class=\"_ _0\"></span>uations impa<span class=\"_ _0\"></span>cting th<span class=\"_ _0\"></span>e income flow of m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment charg<span class=\"_ _0\"></span>es from the inves<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>ets of all fun<span class=\"_ _0\"></span>ds; this is prim<span class=\"_ _0\"></span>arily mana<span class=\"_ _0\"></span>ged </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs51e\">through the use of derivatives<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs51f\">Equit<span class=\"_ _0\"></span>y and prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y price ri<span class=\"_ _0\"></span>sk is manag<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh the agre<span class=\"_ _0\"></span>ement an<span class=\"_ _0\"></span>d monitoring of fin<span class=\"_ _0\"></span>ancial risk p<span class=\"_ _0\"></span>rofiles that are ap<span class=\"_ _0\"></span>propriate for ea<span class=\"_ _0\"></span>ch of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs520\">Group\u2019s life funds in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f m<span class=\"_ _0\"></span>aintaining a<span class=\"_ _0\"></span>dequate re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capita<span class=\"_ _0\"></span>l and Con<span class=\"_ _0\"></span>sumer Du<span class=\"_ _0\"></span>ty. This is larg<span class=\"_ _0\"></span>ely achieve<span class=\"_ _0\"></span>d through as<span class=\"_ _0\"></span>set cla<span class=\"_ _0\"></span>ss </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs521\">divers<span class=\"_ _0\"></span>ification an<span class=\"_ _0\"></span>d within the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s ALM fram<span class=\"_ _0\"></span>ework throug<span class=\"_ _0\"></span>h the holdin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>rivatives or physi<span class=\"_ _0\"></span>cal posi<span class=\"_ _0\"></span>tions in relevant a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s where approp<span class=\"_ _0\"></span>riate. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs522\">The sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>ers\u2019 expos<span class=\"_ _0\"></span>ure to equit<span class=\"_ _0\"></span>y risk princip<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from the Group\u2019s hedg<span class=\"_ _0\"></span>ing stra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gy to protec<span class=\"_ _0\"></span>t the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>osition, w<span class=\"_ _0\"></span>hich </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs523\">result<span class=\"_ _0\"></span>s in an adver<span class=\"_ _0\"></span>se impac<span class=\"_ _0\"></span>t on profit on an inc<span class=\"_ _0\"></span>rease in eq<span class=\"_ _0\"></span>uity pri<span class=\"_ _0\"></span>ces.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs524\">The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis for equit<span class=\"_ _0\"></span>y and pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>y pric<span class=\"_ _0\"></span>e risk illustr<span class=\"_ _0\"></span>ates how a cha<span class=\"_ _0\"></span>nge in the fair v<span class=\"_ _0\"></span>alue of equitie<span class=\"_ _0\"></span>s and prope<span class=\"_ _0\"></span>rties af<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s the Group re<span class=\"_ _0\"></span>sult. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs525\">It takes into ac<span class=\"_ _0\"></span>count the ef<span class=\"_ _0\"></span>fect of su<span class=\"_ _0\"></span>ch chang<span class=\"_ _0\"></span>es in equit<span class=\"_ _0\"></span>y and pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>es on all as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities tha<span class=\"_ _0\"></span>t contribute to the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs526\">profit af<span class=\"_ _0\"></span>ter tax an<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs527\">The e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y repre<span class=\"_ _0\"></span>sents a 1<span class=\"_ _0\"></span>0% chan<span class=\"_ _0\"></span>ge in equit<span class=\"_ _0\"></span>y price<span class=\"_ _0\"></span>s at the balan<span class=\"_ _0\"></span>ce she<span class=\"_ _0\"></span>et date.<span class=\"_ gs47\"> </span> This is ap<span class=\"_ _0\"></span>plied to investm<span class=\"_ _0\"></span>ent ass<span class=\"_ _0\"></span>ets/liabili<span class=\"_ _0\"></span>ties and to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs528\">polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities direc<span class=\"_ _0\"></span>tly mea<span class=\"_ _0\"></span>sured with refere<span class=\"_ _0\"></span>nce to the val<span class=\"_ _0\"></span>ue of backing e<span class=\"_ _0\"></span>quities<span class=\"_ _0\"></span>, such as inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities, un<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed in<span class=\"_ _0\"></span>surance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs529\">contr<span class=\"_ _0\"></span>acts an<span class=\"_ _0\"></span>d with-profit<span class=\"_ _0\"></span>s contrac<span class=\"_ _0\"></span>ts, a<span class=\"_ _0\"></span>nd ass<span class=\"_ _0\"></span>ociated rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts.<span class=\"_ gs47\"> </span> T<span class=\"_ _0\"></span>he illiquidit<span class=\"_ _0\"></span>y premiums us<span class=\"_ _0\"></span>ed in the me<span class=\"_ _0\"></span>asurem<span class=\"_ _0\"></span>ent of insuranc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs52a\">contr<span class=\"_ _0\"></span>acts do n<span class=\"_ _0\"></span>ot chang<span class=\"_ _0\"></span>e as a result of this s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y.<span class=\"_ _3bd\"> </span></div><div class=\"gs52c\"><table class=\"s w604 h251\" id=\"_53394692-fa43-447d-a69c-321e957b2104\"><tr><td></td><td></td><td></td><td class=\"c n xab2 y5de6 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xdaa y5de6 w5dc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xda9 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xdab h29 y5df7 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xdac ha y5df7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x782 h29 y5df8 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit  </td><td></td><td class=\"t m0 x57d h29 y5df8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x557 ha y5df8 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b ha y5df8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x802 ha y5df8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 xdad h29 y5df9 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 x5a4 h29 y5df9 ff3 fs5 fc3 sc0 ls22 ws24\">after tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59d h29 y5df9 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xaf9 h29 y5df9 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xb74 ha y5df9 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdae ha y5df9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdaf ha y5df9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xdb0 h29 y5dfa ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> pric<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x555 h29 y5dfa ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb1 h29 y5dfa ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe h29 y5dfa ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb2 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5deb w5dd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb4 y5deb w605 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb5 y5deb w606 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,239)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb6 y5deb w607 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2<span class=\"_ _0\"></span>,239)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb7 y5deb w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb8 y5deb w7b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2,<span class=\"_ _0\"></span>192)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb9 y5deb w608 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2,192)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x249 y5deb w123 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dec w5e1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdba y5dec w609 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbb y5dec w24d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbc y5dec w24d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbd y5dec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbe y5dec w1ff h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbf y5dec w60a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1a\"> </span>7,<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc0 y5dec wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfb ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dee w5e5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc1 y5dee w605 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc2 y5dee w60b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">2<span class=\"_ _0\"></span>,293<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc3 y5dee w41f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">2,<span class=\"_ _0\"></span>293<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc4 y5dee wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc5 y5dee w60c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>241<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0c y5dee w60c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>241<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc6 y5dee wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfc ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df0 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdba y5df0 w609 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc7 y5df0 w60d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc8 y5df0 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc9 y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdca y5df0 w1f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fc y5df0 w1f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcb y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df1 w60e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to equ<span class=\"_ _0\"></span>ity pric<span class=\"_ _0\"></span>e risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcc y5df1 w60f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcd y5df1 w610 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(20<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdce y5df1 w611 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(20<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcf y5df1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd0 y5df1 w4ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>223)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd1 y5df1 w612 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(223)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xdd2 y5df2 w613 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd3 y5df2 w614 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd4 y5df2 w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd5 y5df2 w28c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd6 y5df2 w615 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(<span class=\"_ _0\"></span>260<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd7 y5df2 w123 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df3 w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd8 y5df3 w616 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-10<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd9 y5df3 w617 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdda y5df3 w618 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddb y5df3 w619 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddc y5df3 w61a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,227<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddd y5df3 w61b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdde y5df3 w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df4 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5df4 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde0 y5df4 w61e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde1 y5df4 w61f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde2 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde3 y5df4 w620 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">8,07<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde4 y5df4 w621 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">8,07<span class=\"_ _4\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd98 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfd ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w5e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde5 y5b12 w622 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde6 y5b12 w623 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,3<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde7 y5b12 w425 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>,328<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde9 y5b12 w32b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,279)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdea y5b12 w6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>79)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdeb y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfe ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5b24 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdec y5b24 w624 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8,<span class=\"_ _0\"></span>208)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xded y5b24 w625 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>,20<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdee y5b24 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdef y5b24 w626 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(<span class=\"_ _0\"></span>7<span class=\"_ _3\"></span>,988)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf0 y5b24 w627 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(<span class=\"_ _0\"></span>7<span class=\"_ _4\"></span>,988)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x460 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w60e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to equ<span class=\"_ _0\"></span>ity pric<span class=\"_ _0\"></span>e risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf1 y5b25 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf2 y5b25 w628 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf3 y5b25 w277 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf4 y5b25 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf5 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf6 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf7 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xdf8 y5a16 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf9 y5a16 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfa y5a16 w1a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(50<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfb y5a16 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfc y5a16 w100 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">263<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfd y5a16 w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs52d\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs52e\">The pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y repres<span class=\"_ _0\"></span>ents a 10<span class=\"_ _0\"></span>% chang<span class=\"_ _0\"></span>e in proper<span class=\"_ _0\"></span>ty pr<span class=\"_ _0\"></span>ices at the b<span class=\"_ _0\"></span>alance sh<span class=\"_ _0\"></span>eet date. Th<span class=\"_ _0\"></span>is is applied to inves<span class=\"_ _0\"></span>tment as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>/liabilities an<span class=\"_ _0\"></span>d to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs52f\">polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities direc<span class=\"_ _0\"></span>tly mea<span class=\"_ _0\"></span>sured with refere<span class=\"_ _0\"></span>nce to the val<span class=\"_ _0\"></span>ue of backing p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, such as inve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities<span class=\"_ _0\"></span>, unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs530\">insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>nd with-profit c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, an<span class=\"_ _0\"></span>d asso<span class=\"_ _0\"></span>ciated reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. The illi<span class=\"_ _0\"></span>quidity p<span class=\"_ _0\"></span>remium use<span class=\"_ _0\"></span>d in the valuatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f pr<span class=\"_ _0\"></span>imarily </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs531\">annuit<span class=\"_ _0\"></span>y liabilit<span class=\"_ _0\"></span>ies, an<span class=\"_ _0\"></span>d asso<span class=\"_ _0\"></span>ciated reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, is a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d to reflect t<span class=\"_ _0\"></span>he impact of p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty valu<span class=\"_ _0\"></span>es on the cha<span class=\"_ _0\"></span>nge in spre<span class=\"_ _0\"></span>ads arisin<span class=\"_ _0\"></span>g on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs532\">equi<span class=\"_ _0\"></span>ty rele<span class=\"_ _0\"></span>ase mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ts held wit<span class=\"_ _0\"></span>hin the referenc<span class=\"_ _0\"></span>e port<span class=\"_ _0\"></span>folio.<span class=\"_ _3bd\"> </span></div><div class=\"gs533\"><table class=\"s w629 h252\" id=\"_a98f840c-484b-4e17-b6ac-a5280447eae8\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5dff w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5dff w5dc h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa31 h29 y5e00 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5e00 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x936 h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xdfe h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit af<span class=\"_ _0\"></span>ter </td><td class=\"t m0 x2e5 h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5e01 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5e01 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5e01 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 xdff h29 y5e02 ff3 fs5 fc3 sc0 lsbe wsbe\">propert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x603 h29 y5e02 ff3 fs5 fc3 sc0 ls9e ws9a\">tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd06 h29 y5e02 ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5e02 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xd08 ha y5e02 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5e02 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5e02 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x493 h29 y5e03 ff3 fs5 fc3 sc0 ls22 ws24\">prices<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5e04 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe00 y5e04 w605 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe01 y5e04 w1e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe02 y5e04 w1e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>121<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe03 y5e04 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe04 y5e04 w62a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>141<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe05 y5e04 w62b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe06 y5e04 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e05 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe07 y5e05 w609 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe08 y5e05 w62c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>291)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe09 y5e05 w62c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(2<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0a y5e05 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0b y5e05 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>278)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0c y5e05 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(278<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0d y5e05 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e06 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e07 w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0e y5e07 w605 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0f y5e07 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">181<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe10 y5e07 w2cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe11 y5e07 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe12 y5e07 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe13 y5e07 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe14 y5e07 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e08 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e09 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe07 y5e09 w609 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe15 y5e09 w2cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">2<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe16 y5e09 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">291<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe17 y5e09 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe18 y5e09 w540 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe19 y5e09 w546 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">278<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1a y5e09 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe1b y5e0a w5a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1c y5e0a w5a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1d y5e0a wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1e y5e0a w3e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1f y5e0a w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe20 y5e0a wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e0b w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd8 y5e0b w616 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-10<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe21 y5e0b wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y5e0b wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe23 y5e0b w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe24 y5e0b w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">135<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe25 y5e0b w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe26 y5e0b w62e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d28 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5d28 w61d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe27 y5d28 w62f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe28 y5d28 w4cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe29 y5d28 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2a y5d28 w266 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2b y5d28 w2b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2c y5d28 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e0c ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e0d w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde5 y5e0d w622 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2d y5e0d w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2e y5e0d w630 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2f y5e0d we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe30 y5e0d w28b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe31 y5e0d w631 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5e y5e0d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e0e ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b43 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5b43 w61d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe32 y5b43 w632 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(296<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe33 y5b43 w633 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe34 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4be y5b43 w634 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe35 y5b43 w634 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9be y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe36 y5b4c w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe37 y5b4c w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe38 y5b4c w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe39 y5b4c w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3a y5b4c w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3b y5b4c w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs534\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs535\">The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y to chan<span class=\"_ _0\"></span>ges in eq<span class=\"_ _0\"></span>uity pric<span class=\"_ _0\"></span>es is prima<span class=\"_ _0\"></span>rily driven by the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s equi<span class=\"_ _0\"></span>ty he<span class=\"_ _0\"></span>dging arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nts over the val<span class=\"_ _0\"></span>ue of future man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs536\">charg<span class=\"_ _0\"></span>es that are linked to a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>es. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsd wsd gs537\">Curren<span class=\"_ _0\"></span>cy risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs538\">Curren<span class=\"_ _0\"></span>cy risk is the r<span class=\"_ _0\"></span>isk that cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e value of currenc<span class=\"_ _0\"></span>ies could l<span class=\"_ _0\"></span>ead to reduc<span class=\"_ _0\"></span>tions in as<span class=\"_ _0\"></span>set value<span class=\"_ _0\"></span>s which may res<span class=\"_ _0\"></span>ult in losse<span class=\"_ _0\"></span>s for policyh<span class=\"_ _0\"></span>olders </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs539\">and sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>ers. W<span class=\"_ _0\"></span>ith the exceptio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f St<span class=\"_ _0\"></span>andard Life Intern<span class=\"_ _0\"></span>ational b<span class=\"_ _0\"></span>usiness s<span class=\"_ _0\"></span>old in Germ<span class=\"_ _0\"></span>any and the Rep<span class=\"_ _0\"></span>ublic of Ireland a<span class=\"_ _0\"></span>nd some hi<span class=\"_ _0\"></span>storic </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs53a\">busin<span class=\"_ _0\"></span>ess writ<span class=\"_ _0\"></span>ten in<span class=\"_ gs47\"> </span>the Re<span class=\"_ _0\"></span>public of Irelan<span class=\"_ _0\"></span>d, the Group\u2019s princ<span class=\"_ _0\"></span>ipal trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d out in sterlin<span class=\"_ _0\"></span>g. The as<span class=\"_ _0\"></span>sets for t<span class=\"_ _0\"></span>hese bo<span class=\"_ _0\"></span>oks of busines<span class=\"_ _0\"></span>s are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs53b\">gen<span class=\"_ _0\"></span>erally he<span class=\"_ _0\"></span>ld in the sam<span class=\"_ _0\"></span>e currency d<span class=\"_ _0\"></span>enominat<span class=\"_ _0\"></span>ion as their liab<span class=\"_ _0\"></span>ilities, t<span class=\"_ _0\"></span>herefore, any foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y mismatch is la<span class=\"_ _0\"></span>rgely mitig<span class=\"_ _0\"></span>ated. C<span class=\"_ _0\"></span>onsequ<span class=\"_ _0\"></span>ently<span class=\"_ _2\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs53c\">the foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y risk relatin<span class=\"_ _0\"></span>g t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>is busines<span class=\"_ _0\"></span>s mainly ar<span class=\"_ _0\"></span>ises whe<span class=\"_ _0\"></span>n the ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities are tran<span class=\"_ _0\"></span>slated into ste<span class=\"_ _0\"></span>rling.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs53d\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are prim<span class=\"_ _0\"></span>arily den<span class=\"_ _0\"></span>ominated in the s<span class=\"_ _0\"></span>ame curre<span class=\"_ _0\"></span>ncies as it<span class=\"_ _0\"></span>s insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment liabilitie<span class=\"_ _0\"></span>s. Thu<span class=\"_ _0\"></span>s, the ma<span class=\"_ _0\"></span>in foreign </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs53e\">exchan<span class=\"_ _0\"></span>ge risk aris<span class=\"_ _0\"></span>es from rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>ts and liabili<span class=\"_ _0\"></span>ties denom<span class=\"_ _0\"></span>inated in curre<span class=\"_ _0\"></span>ncies othe<span class=\"_ _0\"></span>r than thos<span class=\"_ _0\"></span>e in which insur<span class=\"_ _0\"></span>ance and inves<span class=\"_ _0\"></span>tment liab<span class=\"_ _0\"></span>ilities </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs53f\">are exp<span class=\"_ _0\"></span>ected to b<span class=\"_ _0\"></span>e sett<span class=\"_ _0\"></span>led and<span class=\"_ _0\"></span>, indirectl<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, from the n<span class=\"_ _0\"></span>on-U<span class=\"_ _0\"></span>K earning<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f U<span class=\"_ _0\"></span>K compan<span class=\"_ _0\"></span>ies.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs540\">Both th<span class=\"_ _0\"></span>e with-profits a<span class=\"_ _0\"></span>nd non-profit f<span class=\"_ _0\"></span>unds have som<span class=\"_ _0\"></span>e exposure to over<span class=\"_ _0\"></span>seas as<span class=\"_ _0\"></span>sets wh<span class=\"_ _0\"></span>ich is not driven by liabili<span class=\"_ _0\"></span>ty con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>ns. The p<span class=\"_ _0\"></span>urpose of this </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs541\">expo<span class=\"_ _0\"></span>sure is to reduc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rall risk whils<span class=\"_ _0\"></span>t maximis<span class=\"_ _0\"></span>ing returns by diver<span class=\"_ _0\"></span>sificatio<span class=\"_ _0\"></span>n. This exp<span class=\"_ _0\"></span>osure is limited a<span class=\"_ _0\"></span>nd manag<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh investme<span class=\"_ _0\"></span>nt mandates<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs543\">which are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the oversig<span class=\"_ _0\"></span>ht o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>tees of the Bo<span class=\"_ _0\"></span>ards of each in<span class=\"_ _0\"></span>surance s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, an<span class=\"_ _0\"></span>d in the cas<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e with-profit<span class=\"_ _0\"></span>s funds </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs544\">con<span class=\"_ _0\"></span>sistent with p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders\u2019 reas<span class=\"_ _0\"></span>onable exp<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>ations and PPFM<span class=\"_ _0\"></span>. Fluct<span class=\"_ _0\"></span>uations in exch<span class=\"_ _0\"></span>ange rate<span class=\"_ _0\"></span>s from cer<span class=\"_ _0\"></span>tain hol<span class=\"_ _0\"></span>dings in overs<span class=\"_ _0\"></span>eas as<span class=\"_ _0\"></span>sets are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs545\">hed<span class=\"_ _0\"></span>ged ag<span class=\"_ _0\"></span>ainst c<span class=\"_ _0\"></span>urrency ris<span class=\"_ _0\"></span>ks. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs546\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group had in p<span class=\"_ _0\"></span>lace four cro<span class=\"_ _0\"></span>ss curren<span class=\"_ _0\"></span>cy swaps w<span class=\"_ _0\"></span>hich were desig<span class=\"_ _0\"></span>nated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts in order to ef<span class=\"_ _0\"></span>fect c<span class=\"_ _0\"></span>ash </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs547\">flow he<span class=\"_ _0\"></span>dges of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s Euro an<span class=\"_ _0\"></span>d US Dollar de<span class=\"_ _0\"></span>nominate<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s. On 12 J<span class=\"_ _0\"></span>une 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Co<span class=\"_ _0\"></span>mpany issu<span class=\"_ _0\"></span>ed US $<span class=\"_ _0\"></span>500 million C<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs548\">Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes and t<span class=\"_ _0\"></span>he cross c<span class=\"_ _0\"></span>urrency s<span class=\"_ _0\"></span>wap that was e<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>red into at this time wa<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>ted as a hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument. O<span class=\"_ _0\"></span>n 18 Jun<span class=\"_ _0\"></span>e 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs549\">$5<span class=\"_ _0\"></span>00 million of the $<span class=\"_ _0\"></span>750 million Co<span class=\"_ _0\"></span>ntingently C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible T1 notes we<span class=\"_ _0\"></span>re repurchas<span class=\"_ _0\"></span>ed via a ten<span class=\"_ _0\"></span>der offer, leading to a<span class=\"_ _0\"></span>n unwinding of $5<span class=\"_ _0\"></span>00 million </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs54a\">of<span class=\"_ gs47\"> </span>the relate<span class=\"_ _0\"></span>d swap arr<span class=\"_ _0\"></span>angeme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs54b\">E6.<span class=\"_ _0\"></span>2.3 Financial soundness r<span class=\"_ _2\"></span>isk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs54c\">Finan<span class=\"_ _0\"></span>cial soun<span class=\"_ _0\"></span>dness r<span class=\"_ _0\"></span>isk is a broad ris<span class=\"_ _0\"></span>k categ<span class=\"_ _0\"></span>ory en<span class=\"_ _0\"></span>compas<span class=\"_ _0\"></span>sing ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt risk, t<span class=\"_ _0\"></span>ax risk and li<span class=\"_ _0\"></span>quidity a<span class=\"_ _0\"></span>nd funding ri<span class=\"_ _0\"></span>sk.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs54d\">Capit<span class=\"_ _0\"></span>al mana<span class=\"_ _0\"></span>gement ri<span class=\"_ _0\"></span>sk is defined a<span class=\"_ _0\"></span>s the risk of redu<span class=\"_ _0\"></span>ctions in e<span class=\"_ _0\"></span>arnings an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or valu<span class=\"_ _0\"></span>e, throug<span class=\"_ _0\"></span>h financial or re<span class=\"_ _0\"></span>putatio<span class=\"_ _0\"></span>nal loss<span class=\"_ _0\"></span>, due to a failure to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs54e\">maint<span class=\"_ _0\"></span>ain suffic<span class=\"_ _0\"></span>ient capit<span class=\"_ _0\"></span>al to provide approp<span class=\"_ _0\"></span>riate sec<span class=\"_ _0\"></span>urity for p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and m<span class=\"_ _0\"></span>eet all reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y capital re<span class=\"_ _0\"></span>quireme<span class=\"_ _0\"></span>nts whilst n<span class=\"_ _0\"></span>ot retaining </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs54f\">unne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary c<span class=\"_ _0\"></span>apital. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s exposure to c<span class=\"_ _0\"></span>apital ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent risk throu<span class=\"_ _0\"></span>gh the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s mandate<span class=\"_ _0\"></span>d by the PR<span class=\"_ _0\"></span>A. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs550\">The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s app<span class=\"_ _0\"></span>roach to man<span class=\"_ _0\"></span>aging ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt risk is des<span class=\"_ _0\"></span>cribed in de<span class=\"_ _0\"></span>tail in note I3<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1c9 ws1e1 gs551\">Ta<span class=\"_ _0\"></span>x<span class=\"_ _0\"></span> r<span class=\"_ _0\"></span>i<span class=\"_ _0\"></span>s<span class=\"_ _1\"></span>k<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs552\">T<span class=\"_ _2\"></span>ax risk is d<span class=\"_ _0\"></span>efined as th<span class=\"_ _0\"></span>e risk of reduc<span class=\"_ _0\"></span>tions in earn<span class=\"_ _0\"></span>ings and/<span class=\"_ _2\"></span>or va<span class=\"_ _0\"></span>lue, throug<span class=\"_ _0\"></span>h financia<span class=\"_ _0\"></span>l or reputati<span class=\"_ _0\"></span>onal los<span class=\"_ _0\"></span>s, due to an unfores<span class=\"_ _0\"></span>een ta<span class=\"_ _0\"></span>x cost<span class=\"_ _0\"></span>, or by the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs553\">inapp<span class=\"_ _0\"></span>ropriate repo<span class=\"_ _0\"></span>rting an<span class=\"_ _0\"></span>d disclos<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f inform<span class=\"_ _0\"></span>ation in relatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o t<span class=\"_ _0\"></span>axation<span class=\"_ _0\"></span>. T<span class=\"_ _4\"></span>ax ris<span class=\"_ _0\"></span>k can be c<span class=\"_ _0\"></span>ause<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs554\">\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup, or one of its s<span class=\"_ _0\"></span>ubsidiarie<span class=\"_ _0\"></span>s, makin<span class=\"_ _0\"></span>g a material e<span class=\"_ _0\"></span>rror in its ta<span class=\"_ _0\"></span>x repor<span class=\"_ _0\"></span>ting; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs555\">\u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>orrect c<span class=\"_ _0\"></span>alculatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f t<span class=\"_ _0\"></span>ax provision<span class=\"_ _0\"></span>s; </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs556\">\u2022 <span class=\"_ _19\"> </span>failure to im<span class=\"_ _0\"></span>plement th<span class=\"_ _0\"></span>e optimum finan<span class=\"_ _0\"></span>cial arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s to underpin a c<span class=\"_ _0\"></span>ommercia<span class=\"_ _0\"></span>l transa<span class=\"_ _0\"></span>ction; and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs557\">\u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>orrect o<span class=\"_ _0\"></span>peration of p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>er tax re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs558\">T<span class=\"_ _2\"></span>ax risk is m<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ed by maintainin<span class=\"_ _0\"></span>g an appropri<span class=\"_ _0\"></span>ately-s<span class=\"_ _0\"></span>taffe<span class=\"_ _0\"></span>d tax team wh<span class=\"_ _0\"></span>o have the qualific<span class=\"_ _0\"></span>ations an<span class=\"_ _0\"></span>d experien<span class=\"_ _0\"></span>ce to make judg<span class=\"_ _0\"></span>ements o<span class=\"_ _0\"></span>n tax iss<span class=\"_ _0\"></span>ues, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs559\">augm<span class=\"_ _0\"></span>ented by advi<span class=\"_ _0\"></span>ce from ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal spe<span class=\"_ _0\"></span>cialist<span class=\"_ _0\"></span>s where re<span class=\"_ _0\"></span>quired. In a<span class=\"_ _0\"></span>ddition, th<span class=\"_ _0\"></span>e Group has a form<span class=\"_ _0\"></span>al tax ris<span class=\"_ _0\"></span>k policy, which set<span class=\"_ _0\"></span>s out its ri<span class=\"_ _0\"></span>sk appetite in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs55a\">relatio<span class=\"_ _0\"></span>n to specific a<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>ts of tax ris<span class=\"_ _0\"></span>k, and wh<span class=\"_ _0\"></span>ich details th<span class=\"_ _0\"></span>e controls the G<span class=\"_ _0\"></span>roup has in pla<span class=\"_ _0\"></span>ce to mana<span class=\"_ _0\"></span>ge those r<span class=\"_ _0\"></span>isks.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs55b\">Liquidity risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs55c\">Liquidit<span class=\"_ _0\"></span>y risk is defi<span class=\"_ _0\"></span>ned as failure to m<span class=\"_ _0\"></span>aintain ade<span class=\"_ _0\"></span>quate levels of fina<span class=\"_ _0\"></span>ncial res<span class=\"_ _0\"></span>ources to me<span class=\"_ _0\"></span>et obligati<span class=\"_ _0\"></span>ons as they fa<span class=\"_ _0\"></span>ll due. Funding risk re<span class=\"_ _0\"></span>lates to the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs55d\">potentia<span class=\"_ _0\"></span>l inabilit<span class=\"_ _0\"></span>y to raise ad<span class=\"_ _0\"></span>ditional c<span class=\"_ _0\"></span>apital or liqui<span class=\"_ _0\"></span>dity wh<span class=\"_ _0\"></span>en required in o<span class=\"_ _0\"></span>rder to maintain t<span class=\"_ _0\"></span>he resilienc<span class=\"_ _0\"></span>e of the balan<span class=\"_ _0\"></span>ce shee<span class=\"_ _0\"></span>t. The Gro<span class=\"_ _0\"></span>up has </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs55e\">expo<span class=\"_ _0\"></span>sure to liquidit<span class=\"_ _0\"></span>y risk as a res<span class=\"_ _0\"></span>ult of serv<span class=\"_ _0\"></span>icing its ex<span class=\"_ _0\"></span>ternal d<span class=\"_ _0\"></span>ebt and equi<span class=\"_ _0\"></span>ty inves<span class=\"_ _0\"></span>tors, an<span class=\"_ _0\"></span>d from the ope<span class=\"_ _0\"></span>rating req<span class=\"_ _0\"></span>uirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f it<span class=\"_ _0\"></span>s subsidiar<span class=\"_ _0\"></span>ies. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs55f\">The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s subs<span class=\"_ _0\"></span>idiaries have exp<span class=\"_ _0\"></span>osure to liquidit<span class=\"_ _0\"></span>y risk as a re<span class=\"_ _0\"></span>sult of normal b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s activit<span class=\"_ _0\"></span>ies, sp<span class=\"_ _0\"></span>ecific<span class=\"_ _0\"></span>ally the risk ar<span class=\"_ _0\"></span>ising from an inab<span class=\"_ _0\"></span>ility to me<span class=\"_ _0\"></span>et </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs560\">shor<span class=\"_ _0\"></span>t-term cas<span class=\"_ _0\"></span>h flow requirem<span class=\"_ _0\"></span>ents and<span class=\"_ gs47\"> </span>to m<span class=\"_ _0\"></span>eet oblig<span class=\"_ _0\"></span>ations to polic<span class=\"_ _0\"></span>y liabilities<span class=\"_ _0\"></span>. The Bo<span class=\"_ _0\"></span>ard of Phoenix G<span class=\"_ _0\"></span>roup Holdin<span class=\"_ _0\"></span>gs plc has d<span class=\"_ _0\"></span>efined a numb<span class=\"_ _0\"></span>er of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs561\">govern<span class=\"_ _0\"></span>ance obj<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>s and princip<span class=\"_ _0\"></span>les and<span class=\"_ gs47\"> </span>the li<span class=\"_ _0\"></span>quidity r<span class=\"_ _0\"></span>isk framewo<span class=\"_ _0\"></span>rks o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>ach subsi<span class=\"_ _0\"></span>diary are d<span class=\"_ _0\"></span>esigne<span class=\"_ _0\"></span>d to ensure that<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs562\">\u2022 <span class=\"_ _19\"> </span>liquid<span class=\"_ _0\"></span>ity risk i<span class=\"_ _0\"></span>s manag<span class=\"_ _0\"></span>ed in a manne<span class=\"_ _0\"></span>r consis<span class=\"_ _0\"></span>tent with the sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y company Bo<span class=\"_ _0\"></span>ards\u2019 strate<span class=\"_ _0\"></span>gic obje<span class=\"_ _0\"></span>ctives<span class=\"_ _0\"></span>, risk app<span class=\"_ _0\"></span>etite and PPFM<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs563\">\u2022 <span class=\"_ _19\"> </span>c<span class=\"_ _0\"></span>ash flows are app<span class=\"_ _0\"></span>ropriately m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d and the rep<span class=\"_ _0\"></span>utation of the G<span class=\"_ _0\"></span>roup is safeg<span class=\"_ _0\"></span>uarded; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs564\">\u2022 <span class=\"_ _19\"> </span>app<span class=\"_ _0\"></span>ropriate information o<span class=\"_ _0\"></span>n liquidit<span class=\"_ _0\"></span>y risk is available to th<span class=\"_ _0\"></span>ose makin<span class=\"_ _0\"></span>g decisio<span class=\"_ _0\"></span>ns.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs565\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s liquidi<span class=\"_ _0\"></span>ty risk m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment str<span class=\"_ _0\"></span>ategy is ba<span class=\"_ _0\"></span>sed on a ris<span class=\"_ _0\"></span>k appetite of les<span class=\"_ _0\"></span>s than a 1 in 20<span class=\"_ _0\"></span>0 chanc<span class=\"_ _0\"></span>e of having insuf<span class=\"_ _0\"></span>ficient liqu<span class=\"_ _0\"></span>id or tangib<span class=\"_ _0\"></span>le </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs566\">as<span class=\"_ _0\"></span>sets to<span class=\"_ gs47\"> </span>me<span class=\"_ _0\"></span>et financia<span class=\"_ _0\"></span>l obligation<span class=\"_ _0\"></span>s as they fall du<span class=\"_ _0\"></span>e and is supp<span class=\"_ _0\"></span>orted by<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs567\">\u2022 <span class=\"_ _19\"> </span>hol<span class=\"_ _0\"></span>ding appropr<span class=\"_ _0\"></span>iate asset<span class=\"_ _0\"></span>s to meet liq<span class=\"_ _0\"></span>uidity b<span class=\"_ _0\"></span>uffers<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs568\">\u2022 <span class=\"_ _19\"> </span>hol<span class=\"_ _0\"></span>ding high quali<span class=\"_ _0\"></span>ty liquid a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s to suppor<span class=\"_ _0\"></span>t day to day oper<span class=\"_ _0\"></span>ations;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs569\">\u2022 <span class=\"_ _19\"> </span>an ef<span class=\"_ _0\"></span>fective s<span class=\"_ _0\"></span>tress tes<span class=\"_ _0\"></span>ting fram<span class=\"_ _0\"></span>ework to ensure s<span class=\"_ _0\"></span>urvival h<span class=\"_ _0\"></span>orizons are met und<span class=\"_ _0\"></span>er different s<span class=\"_ _0\"></span>evere, but pl<span class=\"_ _0\"></span>ausible sc<span class=\"_ _0\"></span>enarios<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs56a\">\u2022 <span class=\"_ _19\"> </span>ef<span class=\"_ _0\"></span>fective liqui<span class=\"_ _0\"></span>dity p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio manag<span class=\"_ _0\"></span>ement in<span class=\"_ _0\"></span>cluding Ear<span class=\"_ _0\"></span>ly W<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>rning Indic<span class=\"_ _0\"></span>ators; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs56b\">\u2022 <span class=\"_ _19\"> </span>liquid<span class=\"_ _0\"></span>ity risk c<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>ncy plann<span class=\"_ _0\"></span>ing.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs56c\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s fun<span class=\"_ _0\"></span>ding strate<span class=\"_ _0\"></span>gy aims to ma<span class=\"_ _0\"></span>intain the appro<span class=\"_ _0\"></span>priate level of debt an<span class=\"_ _0\"></span>d equit<span class=\"_ _0\"></span>y in order to supp<span class=\"_ _0\"></span>ort th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>rganic and in<span class=\"_ _0\"></span>organic </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs56d\">grow<span class=\"_ _0\"></span>th ambition<span class=\"_ _0\"></span>s, while m<span class=\"_ _0\"></span>aintaining suf<span class=\"_ _0\"></span>ficient h<span class=\"_ _0\"></span>eadroom for hyb<span class=\"_ _0\"></span>rid capit<span class=\"_ _0\"></span>al under reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y rules<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs56e\">Liquidit<span class=\"_ _0\"></span>y forec<span class=\"_ _0\"></span>asts s<span class=\"_ _0\"></span>howing he<span class=\"_ _0\"></span>adroom ag<span class=\"_ _0\"></span>ainst liqui<span class=\"_ _0\"></span>dity buf<span class=\"_ _0\"></span>fers are p<span class=\"_ _0\"></span>repared re<span class=\"_ _0\"></span>gularly to pre<span class=\"_ _0\"></span>dict req<span class=\"_ _0\"></span>uired liquidit<span class=\"_ _0\"></span>y levels over b<span class=\"_ _0\"></span>oth the shor<span class=\"_ _0\"></span>t and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs56f\">me<span class=\"_ _0\"></span>dium-term allowing m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment to respo<span class=\"_ _0\"></span>nd appropr<span class=\"_ _0\"></span>iately to chan<span class=\"_ _0\"></span>ges in circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es. In t<span class=\"_ _0\"></span>he event of a liquidit<span class=\"_ _0\"></span>y shor<span class=\"_ _0\"></span>tfall<span class=\"_ _0\"></span>, either c<span class=\"_ _0\"></span>urrent or </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs570\">proj<span class=\"_ _0\"></span>ected<span class=\"_ _0\"></span>, this would b<span class=\"_ _0\"></span>e manag<span class=\"_ _0\"></span>ed in line with the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s C<span class=\"_ _0\"></span>ontingen<span class=\"_ _0\"></span>cy Liquidit<span class=\"_ _0\"></span>y Plan whe<span class=\"_ _0\"></span>re the latest ava<span class=\"_ _0\"></span>ilable contin<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>y manag<span class=\"_ _0\"></span>ement ac<span class=\"_ _0\"></span>tions </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs571\">would b<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>red. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs572\">In ex<span class=\"_ _0\"></span>treme circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces<span class=\"_ _0\"></span>, the Group co<span class=\"_ _0\"></span>uld be expo<span class=\"_ _0\"></span>sed to liquidit<span class=\"_ _0\"></span>y risk in it<span class=\"_ _0\"></span>s unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d funds<span class=\"_ _0\"></span>. This coul<span class=\"_ _0\"></span>d occur whe<span class=\"_ _0\"></span>re a high volume of surre<span class=\"_ _0\"></span>nders </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs573\">coin<span class=\"_ _0\"></span>cides with a tig<span class=\"_ _0\"></span>htening of liquidit<span class=\"_ _0\"></span>y in a unit-linked fund to th<span class=\"_ _0\"></span>e point where as<span class=\"_ _0\"></span>sets of th<span class=\"_ _0\"></span>at fund have to be s<span class=\"_ _0\"></span>old to meet th<span class=\"_ _0\"></span>ose withdr<span class=\"_ _0\"></span>awals. Wh<span class=\"_ _0\"></span>ere </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs574\">the fun<span class=\"_ _0\"></span>d affec<span class=\"_ _0\"></span>ted cons<span class=\"_ _0\"></span>ists of les<span class=\"_ _0\"></span>s liquid as<span class=\"_ _0\"></span>sets su<span class=\"_ _0\"></span>ch as prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, it c<span class=\"_ _0\"></span>an take several m<span class=\"_ _0\"></span>onths to comple<span class=\"_ _0\"></span>te a sale and this w<span class=\"_ _0\"></span>ould impe<span class=\"_ _0\"></span>de the prope<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs575\">ope<span class=\"_ _0\"></span>ration of the fun<span class=\"_ _0\"></span>d. In thes<span class=\"_ _0\"></span>e situations<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up conside<span class=\"_ _0\"></span>rs its ris<span class=\"_ _0\"></span>k to be low since th<span class=\"_ _0\"></span>ere are step<span class=\"_ _0\"></span>s that can b<span class=\"_ _0\"></span>e tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n first with<span class=\"_ _0\"></span>in the funds </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs576\">them<span class=\"_ _0\"></span>selves both to e<span class=\"_ _0\"></span>nsure the fair t<span class=\"_ _0\"></span>reatment of all inves<span class=\"_ _0\"></span>tors in thos<span class=\"_ _0\"></span>e funds and to p<span class=\"_ _0\"></span>rot<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ct the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s own risk e<span class=\"_ _0\"></span>xposure.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs577\">The va<span class=\"_ _0\"></span>st maj<span class=\"_ _0\"></span>ority of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s de<span class=\"_ _0\"></span>rivative contra<span class=\"_ _0\"></span>cts are tr<span class=\"_ _0\"></span>aded OT<span class=\"_ _2\"></span>C a<span class=\"_ _0\"></span>nd have a two<span class=\"_ _0\"></span>-day collate<span class=\"_ _0\"></span>ral set<span class=\"_ _0\"></span>tlement p<span class=\"_ _0\"></span>eriod. Th<span class=\"_ _0\"></span>e Group\u2019s derivative </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs578\">contr<span class=\"_ _0\"></span>acts are<span class=\"_ gs47\"> </span>m<span class=\"_ _0\"></span>onitored da<span class=\"_ _0\"></span>ily<span class=\"_ _2\"></span>, via an e<span class=\"_ _0\"></span>nd-of-day valu<span class=\"_ _0\"></span>ation proce<span class=\"_ _0\"></span>ss, to a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>s the nee<span class=\"_ _0\"></span>d for additio<span class=\"_ _0\"></span>nal funds to c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r margin or coll<span class=\"_ _0\"></span>ateral call<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs579\">Som<span class=\"_ _0\"></span>e of the Group\u2019s comme<span class=\"_ _0\"></span>rcial prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y investme<span class=\"_ _0\"></span>nts, c<span class=\"_ _0\"></span>ash and c<span class=\"_ _0\"></span>ash equiv<span class=\"_ _0\"></span>alents are he<span class=\"_ _0\"></span>ld through c<span class=\"_ _0\"></span>ollec<span class=\"_ _0\"></span>tive inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s. The<span class=\"_ gs47\"> </span>c<span class=\"_ _0\"></span>ollective </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs57a\">investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes have the p<span class=\"_ _0\"></span>ower to restric<span class=\"_ _0\"></span>t and/<span class=\"_ _2\"></span>or sus<span class=\"_ _0\"></span>pend with<span class=\"_ _0\"></span>drawals<span class=\"_ _0\"></span>, which would<span class=\"_ _0\"></span>, in turn, af<span class=\"_ _0\"></span>fect liqui<span class=\"_ _0\"></span>dity.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs25f\">The follow<span class=\"_ _0\"></span>ing table provi<span class=\"_ _0\"></span>des a maturit<span class=\"_ _0\"></span>y ana<span class=\"_ _0\"></span>lysis showin<span class=\"_ _0\"></span>g the remainin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>tual mat<span class=\"_ _0\"></span>urities of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s undis<span class=\"_ _0\"></span>counted fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs57b\">and<span class=\"_ gs47\"> </span>as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated interes<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w637 h253\" id=\"_f21b0d73-42f7-43cd-9d27-0fcee367c626\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x912 h29 y5e0f ff3 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s amo<span class=\"_ _0\"></span>unts </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xe3c h29 y5e10 ff3 fs5 fc3 sc0 ls1 ws1\">cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as </td><td></td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5e11 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r or les<span class=\"_ _0\"></span>s </td><td></td><td></td><td class=\"t m0 xe3d h29 y5e11 ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>eater t<span class=\"_ _0\"></span>han </td><td class=\"t m0 xe3e h29 y5e11 ff3 fs5 fc3 sc0 ls1 ws1\">No fi<span class=\"_ _0\"></span>xed<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 xe3c h29 y5e11 ff3 fs5 fc3 sc0 lsbe wsbe\">held for<span class=\"_ _2\"></span> sale<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x2fa h29 y5e12 ff3 fs5 fc3 sc0 ls8d ws86\">or on demand<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e3 h29 y5e12 ff3 fs5 fc3 sc0 ls1 ws1\">1-<span class=\"_ _0\"></span>5 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 h29 y5e12 ff3 fs5 fc3 sc0 lsa4 ws9f\">6<span class=\"_ _0\"></span>-10 yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bb h29 y5e12 ff3 fs5 fc3 sc0 ls1 ws1\">10 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5e12 ff3 fs5 fc3 sc0 ls4e ws48\">term<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa5f h29 y5e12 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x492 h29 y5e12 ff3 fs5 fc3 sc0 ls1 ws1\">(se<span class=\"_ _0\"></span>e note H<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 h29 y5e12 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5e13 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5e13 ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 x9e8 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5e14 w13f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Inves<span class=\"_ _0\"></span>tment cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3f y5e14 w638 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe40 y5e14 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe41 y5e14 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe42 y5e14 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe43 y5e14 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe44 y5e14 w434 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe45 y5e14 w43a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe46 y5e14 w140 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,747<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e15 w639 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings</div><div class=\"t m0 xe47 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe48 y5e17 w25a h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls147 ws152\">483<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe49 y5e17 w172 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls143 ws14f\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4a y5e17 w63a h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls69 ws18a\">1<span class=\"_ _0\"></span>,303<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4b y5e17 w5b h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4c y5e17 w267 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4d y5e17 w144 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,58<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4e y5e17 we9 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4f y5e17 w3e2 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,58<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e18 w63b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives</div><div class=\"t m0 xe50 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe51 y5e19 w307 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1ea ws208\">6<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe52 y5e19 w18a h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c7 ws1df\">245<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe53 y5e19 w259 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe54 y5e19 wda h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>372<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe55 y5e19 w5b h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe56 y5e19 w63c h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls147 ws152\">10,0<span class=\"_ _0\"></span>03<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe57 y5e19 we9 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe58 y5e19 w63d h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls147 ws152\">10,0<span class=\"_ _0\"></span>03<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e1a w430 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe59 y5e1a w63e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5a y5e1a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5b y5e1a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5c y5e1a wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5d y5e1a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5e y5e1a w63f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5f y5e1a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe60 y5e1a w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w640 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls144 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe61 y5b29 w516 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe62 y5b29 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe63 y5b29 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe64 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe65 y5b29 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe66 y5b29 w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe67 y5b29 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe68 y5b29 w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b06 w641 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Leas<span class=\"_ _0\"></span>e liabilities</div><div class=\"t m0 xe69 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6a y5e1b w184 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6b y5e1b w513 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls69 ws18a\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6c y5e1b w642 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6d y5e1b w345 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6e y5e1b w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6f y5e1b w58 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">77<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe70 y5e1b we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe71 y5e1b w9b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">77<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b2a w156 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Accr<span class=\"_ _0\"></span>uals and defe<span class=\"_ _0\"></span>rred incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe72 y5b2a w643 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">545<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe73 y5b2a w644 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe74 y5b2a w184 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe75 y5b2a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe76 y5b2a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe77 y5b2a w645 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">58<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe78 y5b2a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe79 y5b2a w646 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">58<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 w159 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other paya<span class=\"_ _2\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7a y5a16 w15a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7b y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5b y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5c y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5d y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7c y5a16 w647 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">2,<span class=\"_ _0\"></span>28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7d y5a16 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7e y5a16 w15a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs57d\"><table class=\"s w541 h254\" id=\"_464c9fb1-6612-4396-8520-ff3c1bcc4467\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x79a ha y5e1c ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s amo<span class=\"_ _0\"></span>unts </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x577 ha y5e1d ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 xe7f ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r or les<span class=\"_ _0\"></span>s or </td><td></td><td></td><td class=\"t m0 xe80 ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">Gre<span class=\"_ _0\"></span>ater th<span class=\"_ _0\"></span>an </td><td class=\"t m0 xafb ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">No fi<span class=\"_ _0\"></span>xed<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5cc ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">he<span class=\"_ _0\"></span>ld for sa<span class=\"_ _0\"></span>le </td><td></td></tr><tr><td></td><td class=\"t m0 xe81 ha y5e1f ff2 fs5 fc3 sc0 ls11 ws11\">on demand<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe82 ha y5e1f ff2 fs5 fc3 sc0 ls11a ws11c\">1-5 y<span class=\"_ _2\"></span>ears<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe83 ha y5e1f ff2 fs5 fc3 sc0 ls167 ws1d6\">6<span class=\"_ _0\"></span>-10 ye<span class=\"_ _0\"></span>ar<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe84 ha y5e1f ff2 fs5 fc3 sc0 ls1 ws1\">10 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa78 ha y5e1f ff2 fs5 fc3 sc0 ls1be ws1d2\">term<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f ha y5e1f ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7a7 ha y5e1f ff2 fs5 fc3 sc0 ls1 ws1\">(se<span class=\"_ _0\"></span>e note H3<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5e1f ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5e20 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe85 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe86 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe87 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59f ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5e14 w648 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts (res<span class=\"_ _0\"></span>tated)</div><div class=\"t m0 xe88 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe89 y5e14 w403 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8a y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8b y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8c y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8d y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8e y5e14 w455 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8f y5e14 w649 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe90 y5e14 w111 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">157<span class=\"_ _4\"></span>,7<span class=\"_ _2\"></span>15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e15 w639 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings</div><div class=\"t m0 xe47 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe91 y5e15 w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">298<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe92 y5e15 w64a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,0<span class=\"_ _0\"></span>65<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe93 y5e15 w64b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,56<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe94 y5e15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe95 y5e15 w1b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe96 y5e15 w64c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4,<span class=\"_ _0\"></span>971<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe97 y5e15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe98 y5e15 w64d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>971<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ae4 w63b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives</div><div class=\"t m0 xe50 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe91 y5ae4 w501 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">366<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe99 y5ae4 w35d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lscd ws1d4\">403<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9a y5ae4 w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">634<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9b y5ae4 w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">5,<span class=\"_ _0\"></span>084<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9c y5ae4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9d y5ae4 w545 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">6<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9e y5ae4 w299 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9f y5ae4 w64e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">6,485<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 w430 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea0 y5ae5 w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea1 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea2 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea3 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea4 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea5 y5ae5 w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea6 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea7 y5ae5 w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w640 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls144 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea8 y5b29 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea1 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea2 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea3 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea4 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea9 y5b29 w45e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeaa y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeab y5b29 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ae6 w64f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Leas<span class=\"_ _0\"></span>e liabilities</div><div class=\"t m0 xc88 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeac y5ae6 w1a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xead y5ae6 w321 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeae y5ae6 wc7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeaf y5ae6 w2db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb0 y5ae6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb1 y5ae6 w52c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb2 y5ae6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb3 y5ae6 w6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">107<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w156 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Accr<span class=\"_ _0\"></span>uals and defe<span class=\"_ _0\"></span>rred incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb4 y5a15 w55d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb5 y5a15 w602 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb6 y5a15 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb7 y5a15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb8 y5a15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb9 y5a15 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">579<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeba y5a15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebb y5a15 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">579<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w159 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other paya<span class=\"_ _2\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebc y5a16 w650 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebd y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebe y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebf y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcf y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec0 y5a16 w651 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2,<span class=\"_ _0\"></span>272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec1 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec2 y5a16 w652 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,27<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs57e\">1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se fina<span class=\"_ _0\"></span>ncial l<span class=\"_ _0\"></span>iabili<span class=\"_ _0\"></span>ties ar<span class=\"_ _0\"></span>e disc<span class=\"_ _0\"></span>lose<span class=\"_ _0\"></span>d at thei<span class=\"_ _0\"></span>r undis<span class=\"_ _0\"></span>count<span class=\"_ _0\"></span>ed valu<span class=\"_ _0\"></span>e and th<span class=\"_ _0\"></span>erefor<span class=\"_ _0\"></span>e diffe<span class=\"_ _0\"></span>r from am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>uded in t<span class=\"_ _0\"></span>he st<span class=\"_ _0\"></span>ateme<span class=\"_ _0\"></span>nt of con<span class=\"_ _0\"></span>solid<span class=\"_ _0\"></span>ated fin<span class=\"_ _0\"></span>anci<span class=\"_ _0\"></span>al pos<span class=\"_ _0\"></span>ition w<span class=\"_ _0\"></span>hich dis<span class=\"_ _0\"></span>clos<span class=\"_ _0\"></span>es the<span class=\"_ gs1f7\"> </span>d<span class=\"_ _0\"></span>isco<span class=\"_ _0\"></span>unted v<span class=\"_ _0\"></span>alue.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs57f\">2 <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee note A<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs580\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs have the option to ter<span class=\"_ _0\"></span>minate or tran<span class=\"_ _0\"></span>sfer their c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s at any time and to re<span class=\"_ _0\"></span>ceive the surre<span class=\"_ _0\"></span>nder or tr<span class=\"_ _0\"></span>ansfer valu<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs581\">of their<span class=\"_ gs47\"> </span>p<span class=\"_ _0\"></span>olicies. A<span class=\"_ _0\"></span>lthough th<span class=\"_ _0\"></span>ese liabilit<span class=\"_ _0\"></span>ies are payable o<span class=\"_ _0\"></span>n demand<span class=\"_ _0\"></span>, and are therefo<span class=\"_ _0\"></span>re include<span class=\"_ _0\"></span>d in the contra<span class=\"_ _0\"></span>ctual m<span class=\"_ _0\"></span>aturit<span class=\"_ _0\"></span>y analysis a<span class=\"_ _0\"></span>s due within one </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs582\">year, the<span class=\"_ gs47\"> </span>Group do<span class=\"_ _0\"></span>es not expe<span class=\"_ _0\"></span>ct all the<span class=\"_ _0\"></span>se amount<span class=\"_ _0\"></span>s to be paid ou<span class=\"_ _0\"></span>t within one year of th<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ting date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs583\">The follow<span class=\"_ _0\"></span>ing table<span class=\"_ _0\"></span>s present th<span class=\"_ _0\"></span>e estimate<span class=\"_ _0\"></span>d amount an<span class=\"_ _0\"></span>d timing of the rema<span class=\"_ _0\"></span>ining contra<span class=\"_ _0\"></span>ctual dis<span class=\"_ _0\"></span>counted c<span class=\"_ _0\"></span>ash flows ar<span class=\"_ _0\"></span>ising from insur<span class=\"_ _0\"></span>ance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs584\">contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es. </div><div class=\"gs585\"><table class=\"s w257 h255\" id=\"_b7eaeaab-b9c4-4744-9009-7e78db40cf35\"><tr><td></td><td class=\"t m0 xec3 h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">Up to 1 y<span class=\"_ _0\"></span>ear<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a4 h29 y5e21 ff3 fs5 fc3 sc0 ls10b wsb1\">1<span class=\"_ _0\"></span>-2 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xec4 h29 y5e21 ff3 fs5 fc3 sc0 lsa4 ws9f\">2-3 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">3-<span class=\"_ _0\"></span>4 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">4-<span class=\"_ _0\"></span>5 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">&gt;5 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5e21 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5e22 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe86 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe87 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59f h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w137 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec5 y5b4c w293 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">8,0<span class=\"_ _0\"></span>54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec6 y5b4c w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">5,18<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec7 y5b4c w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">4,585<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec8 y5b4c w653 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec9 y5b4c w654 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">5,<span class=\"_ _0\"></span>282<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b1 y5b4c w655 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">81<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>334<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeca y5b4c w656 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">10<span class=\"_ _0\"></span>9,35<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs586\"><table class=\"s w541 h220\" id=\"_02a810fb-55f8-4c4e-843e-1e8427a31e21\"><tr><td></td><td class=\"t m0 xecb ha y5e23 ff2 fs5 fc3 sc0 ls1 ws1\">Up to 1 ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a4 ha y5e23 ff2 fs5 fc3 sc0 ls1e7 ws204\">1<span class=\"_ _0\"></span>-2 ye<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xec4 ha y5e23 ff2 fs5 fc3 sc0 ls1 ws1\">2-3 yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59e ha y5e23 ff2 fs5 fc3 sc0 lsaa wsa5\">3-4 y<span class=\"_ _2\"></span>ears<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x679 ha y5e23 ff2 fs5 fc3 sc0 ls11a ws11c\">4-5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y5e23 ff2 fs5 fc3 sc0 ls1 ws1\">&gt;5 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5e23 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5e24 w657 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xecc h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xe86 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe87 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59f ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5e26 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y5e27 w658 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">8,467<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xece y5e27 w659 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,<span class=\"_ _0\"></span>986<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xecf y5e27 w65a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">4,958<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed0 y5e27 w527 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">5,<span class=\"_ _0\"></span>292<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed1 y5e27 w1a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">5<span class=\"_ _0\"></span>,632<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed2 y5e27 w65b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">8<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed3 y5e27 w139 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>72<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs587\">1 Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s of the pri<span class=\"_ _0\"></span>or year r<span class=\"_ _0\"></span>est<span class=\"_ _0\"></span>ateme<span class=\"_ _0\"></span>nts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs588\">The follow<span class=\"_ _0\"></span>ing table s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e amounts th<span class=\"_ _0\"></span>at are payable on d<span class=\"_ _0\"></span>emand an<span class=\"_ _0\"></span>d the carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e related p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folios of contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs589\"><table class=\"s w65c h256\" id=\"_c8550f65-081c-422c-9481-580475f7639d\"><tr><td></td><td class=\"c n xed4 y5e28 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c xed6 y5e28 w65d h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">20<span class=\"_ _0\"></span>23 res<span class=\"_ _0\"></span>tated</div><div class=\"t m0 xed5 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 xed7 h29 y5e29 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s payab<span class=\"_ _0\"></span>le </td><td class=\"t m0 x7a5 h29 y5e29 ff3 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>rryi<span class=\"_ _0\"></span>ng val<span class=\"_ _0\"></span>ue of </td><td class=\"t m0 xed8 ha y5e29 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts p<span class=\"_ _0\"></span>ayabl<span class=\"_ _0\"></span>e </td><td></td><td class=\"t m0 xed9 ha y5e29 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value of </td></tr><tr><td></td><td class=\"t m0 xac3 h29 y5e2a ff3 fs5 fc3 sc0 ls8d ws86\">on demand<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 h29 y5e2a ff3 fs5 fc3 sc0 ls8d ws86\">portfolio<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xeda ha y5e2a ff2 fs5 fc3 sc0 ls11 ws11\">on<span class=\"_ gs1f7\"> </span>demand<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x67a ha y5e2a ff2 fs5 fc3 sc0 ls11 ws11\">port<span class=\"_ _0\"></span>fol<span class=\"_ _2\"></span>io<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x542 h29 y5e2b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5e2b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5e2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1d3 ha y5e2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a11 w65e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedb y5a11 w65f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">(4<span class=\"_ _4\"></span>2,695)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedc y5a11 w660 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(49<span class=\"_ _0\"></span>,233)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedd y5a11 w661 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(4<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,076<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xede y5a11 w662 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 w663 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Annuities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedf y5a12 w8c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>6,5<span class=\"_ _0\"></span>64)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee0 y5a12 w664 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>36<span class=\"_ _0\"></span>,51<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee1 y5a12 w665 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(5<span class=\"_ _0\"></span>,16<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xee2 y5a12 w666 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3<span class=\"_ _0\"></span>4,29<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w667 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit-link<span class=\"_ _2\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee3 y5a45 w668 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>7,7<span class=\"_ _0\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee4 y5a45 w669 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(17<span class=\"_ _4\"></span>,<span class=\"_ _0\"></span>016)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee5 y5a45 w66a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xee6 y5a45 w66b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(16<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w66c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6a ws89\">Pr<span class=\"_ _2\"></span>otect<span class=\"_ _2\"></span>ion<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee7 y5b24 w66d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(384)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee8 y5b24 wc2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>975<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee9 y5b24 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(61<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xeea y5b24 w7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>1,722)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w66e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sho<span class=\"_ _0\"></span>rt-term payabl<span class=\"_ _0\"></span>es and rec<span class=\"_ _0\"></span>eivables (in<span class=\"_ _0\"></span>cluding de<span class=\"_ _0\"></span>posits f<span class=\"_ _0\"></span>rom reinsurer<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeeb y5b25 w66f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(3<span class=\"_ _0\"></span>,24<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeec y5b25 w670 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeed y5b25 w671 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xeea y5b25 w672 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xeee y5a16 wf5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>70,6<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeef y5a16 w673 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>6,<span class=\"_ _0\"></span>985)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef0 y5a16 w674 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">(6<span class=\"_ _0\"></span>9,185)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef1 y5a16 w675 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>7,<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef2 y5a16 w676 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">6<span class=\"_ _0\"></span>0<span class=\"_ _1\"> </span>6<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs58a\">1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs58b\">A signifi<span class=\"_ _0\"></span>cant propo<span class=\"_ _0\"></span>rtion of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets are h<span class=\"_ _0\"></span>eld in gilts<span class=\"_ _0\"></span>, cas<span class=\"_ _0\"></span>h, supra<span class=\"_ _0\"></span>nationals a<span class=\"_ _0\"></span>nd investme<span class=\"_ _0\"></span>nt grade s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s which the Gro<span class=\"_ _0\"></span>up </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs58c\">con<span class=\"_ _0\"></span>siders suf<span class=\"_ _0\"></span>ficient to m<span class=\"_ _0\"></span>eet the liabili<span class=\"_ _0\"></span>ties as they fa<span class=\"_ _0\"></span>ll due. The vas<span class=\"_ _0\"></span>t majo<span class=\"_ _0\"></span>rity of the<span class=\"_ _0\"></span>se investm<span class=\"_ _0\"></span>ents are rea<span class=\"_ _0\"></span>dily realisa<span class=\"_ _0\"></span>ble immed<span class=\"_ _0\"></span>iately since m<span class=\"_ _0\"></span>ost </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs58d\">of<span class=\"_ gs47\"> </span>them are q<span class=\"_ _0\"></span>uoted in<span class=\"_ gs47\"> </span>an act<span class=\"_ _0\"></span>ive market. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs58e\">The Gro<span class=\"_ _0\"></span>up has a set of es<span class=\"_ _0\"></span>tablis<span class=\"_ _0\"></span>hed polic<span class=\"_ _0\"></span>ies and pro<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>es to manag<span class=\"_ _0\"></span>e its exp<span class=\"_ _0\"></span>osure to liquidit<span class=\"_ _0\"></span>y risk, in<span class=\"_ _0\"></span>cluding imp<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>rising from the e<span class=\"_ _0\"></span>conomi<span class=\"_ _0\"></span>c </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs58f\">environm<span class=\"_ _0\"></span>ent, bus<span class=\"_ _0\"></span>iness deve<span class=\"_ _0\"></span>lopment<span class=\"_ _0\"></span>s and fundin<span class=\"_ _0\"></span>g chang<span class=\"_ _0\"></span>es. Whe<span class=\"_ _0\"></span>re liquidit<span class=\"_ _0\"></span>y risk is heig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ned, s<span class=\"_ _0\"></span>uch as during p<span class=\"_ _0\"></span>eriods of sign<span class=\"_ _0\"></span>ificant mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et volatilit<span class=\"_ _0\"></span>y, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs590\">trigg<span class=\"_ _0\"></span>ers are in pl<span class=\"_ _0\"></span>ace to enha<span class=\"_ _0\"></span>nce the fre<span class=\"_ _0\"></span>quency of liq<span class=\"_ _0\"></span>uidity m<span class=\"_ _0\"></span>onitoring an<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o im<span class=\"_ _0\"></span>plement avail<span class=\"_ _0\"></span>able conting<span class=\"_ _0\"></span>ency a<span class=\"_ _0\"></span>ctions to en<span class=\"_ _0\"></span>sure suf<span class=\"_ _0\"></span>ficient liquidit<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs591\">is maint<span class=\"_ _0\"></span>ained.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs593\">E6.<span class=\"_ _0\"></span>2.4 Strategi<span class=\"_ _2\"></span>c risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs594\">Strate<span class=\"_ _0\"></span>gic risks thre<span class=\"_ _0\"></span>aten the achie<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment of the Group s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y through p<span class=\"_ _0\"></span>oor str<span class=\"_ _0\"></span>ategic dec<span class=\"_ _0\"></span>ision-mak<span class=\"_ _0\"></span>ing, impl<span class=\"_ _0\"></span>ementati<span class=\"_ _0\"></span>on or respon<span class=\"_ _0\"></span>se to chang<span class=\"_ _0\"></span>ing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs595\">circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es. Th<span class=\"_ _0\"></span>e Group rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s that core st<span class=\"_ _0\"></span>rategic ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y brings wi<span class=\"_ _0\"></span>th it exposure to s<span class=\"_ _0\"></span>trategic r<span class=\"_ _0\"></span>isk. Howeve<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>, t<span class=\"_ _0\"></span>he Group se<span class=\"_ _0\"></span>eks to proac<span class=\"_ _0\"></span>tively </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs596\">review, man<span class=\"_ _0\"></span>age and c<span class=\"_ _0\"></span>ontrol thes<span class=\"_ _0\"></span>e exposure<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs597\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s st<span class=\"_ _0\"></span>rategy an<span class=\"_ _0\"></span>d busines<span class=\"_ _0\"></span>s plan are exp<span class=\"_ _0\"></span>osed to ex<span class=\"_ _0\"></span>ternal eve<span class=\"_ _0\"></span>nts that co<span class=\"_ _0\"></span>uld prevent or impa<span class=\"_ _0\"></span>ct the ac<span class=\"_ _0\"></span>hievement of the s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y; events re<span class=\"_ _0\"></span>lating </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs598\">to how the s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y and busin<span class=\"_ _0\"></span>ess plan a<span class=\"_ _0\"></span>re executed; a<span class=\"_ _0\"></span>nd events that a<span class=\"_ _0\"></span>rise as a con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nce of following th<span class=\"_ _0\"></span>e specifi<span class=\"_ _0\"></span>c strateg<span class=\"_ _0\"></span>y chose<span class=\"_ _0\"></span>n. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs599\">identifi<span class=\"_ _0\"></span>cation and a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of s<span class=\"_ _0\"></span>trategic ris<span class=\"_ _0\"></span>ks is an integrate<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Risk Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>ram<span class=\"_ _0\"></span>ework. Str<span class=\"_ _0\"></span>ategic ris<span class=\"_ _0\"></span>k should be c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs59a\">para<span class=\"_ _0\"></span>llel with the Ris<span class=\"_ _0\"></span>k Universe a<span class=\"_ _0\"></span>s each of the ri<span class=\"_ _0\"></span>sks within the Risk U<span class=\"_ _0\"></span>niverse c<span class=\"_ _0\"></span>an impac<span class=\"_ _0\"></span>t the Group\u2019s strate<span class=\"_ _0\"></span>gy<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs59b\">A Strate<span class=\"_ _0\"></span>gic Risk Policy is m<span class=\"_ _0\"></span>aintaine<span class=\"_ _0\"></span>d and repor<span class=\"_ _0\"></span>ted ag<span class=\"_ _0\"></span>ainst re<span class=\"_ _0\"></span>gularly, with a par<span class=\"_ _0\"></span>ticula<span class=\"_ _0\"></span>r f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>cus on risk m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment, s<span class=\"_ _0\"></span>takeholde<span class=\"_ _0\"></span>r manag<span class=\"_ _0\"></span>ement, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs59c\">corp<span class=\"_ _0\"></span>orate act<span class=\"_ _0\"></span>ivity an<span class=\"_ _0\"></span>d overall repor<span class=\"_ _0\"></span>ting a<span class=\"_ _0\"></span>gainst th<span class=\"_ _0\"></span>e Group\u2019s strateg<span class=\"_ _0\"></span>ic ambitions<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls20 ws22 gs59d\">E6.<span class=\"_ _0\"></span>2.5 Operational ri<span class=\"_ _2\"></span>sk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs59e\">Ope<span class=\"_ _0\"></span>rational ri<span class=\"_ _0\"></span>sk is the risk of re<span class=\"_ _0\"></span>ductions in e<span class=\"_ _0\"></span>arnings a<span class=\"_ _0\"></span>nd/<span class=\"_ _4\"></span>or va<span class=\"_ _0\"></span>lue, throu<span class=\"_ _0\"></span>gh financia<span class=\"_ _0\"></span>l or reputat<span class=\"_ _0\"></span>ional los<span class=\"_ _0\"></span>s, from ina<span class=\"_ _0\"></span>dequate or f<span class=\"_ _0\"></span>ailed interna<span class=\"_ _0\"></span>l proces<span class=\"_ _0\"></span>ses </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls56 ws1 gs59f\">and<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ystems<span class=\"_ _0\"></span>, or from pe<span class=\"_ _0\"></span>ople-re<span class=\"_ _0\"></span>lated or ex<span class=\"_ _0\"></span>ternal event<span class=\"_ _0\"></span>s. Op<span class=\"_ _0\"></span>erational r<span class=\"_ _0\"></span>isk arises d<span class=\"_ _0\"></span>ue to failures in one o<span class=\"_ _0\"></span>r more of the following a<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>ts of our busin<span class=\"_ _0\"></span>ess:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a0\">\u2022 <span class=\"_ _19\"> </span>indire<span class=\"_ _0\"></span>ct expo<span class=\"_ _0\"></span>sures throu<span class=\"_ _0\"></span>gh outs<span class=\"_ _0\"></span>ourcing se<span class=\"_ _0\"></span>rvice p<span class=\"_ _0\"></span>roviders an<span class=\"_ _0\"></span>d suppliers<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a1\">\u2022 <span class=\"_ _19\"> </span>dire<span class=\"_ _0\"></span>ct expos<span class=\"_ _0\"></span>ures through inte<span class=\"_ _0\"></span>rnal prac<span class=\"_ _0\"></span>tices<span class=\"_ _0\"></span>, actio<span class=\"_ _0\"></span>ns or omis<span class=\"_ _0\"></span>sions;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a2\">\u2022 <span class=\"_ _19\"> </span>ex<span class=\"_ _0\"></span>ternal thre<span class=\"_ _0\"></span>ats from indi<span class=\"_ _0\"></span>viduals or gro<span class=\"_ _0\"></span>ups focus<span class=\"_ _0\"></span>ed on malici<span class=\"_ _0\"></span>ous or crimina<span class=\"_ _0\"></span>l activiti<span class=\"_ _0\"></span>es, or on ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l events occ<span class=\"_ _0\"></span>urring which a<span class=\"_ _0\"></span>re not within the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a3\">Group\u2019s control; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a4\">\u2022 <span class=\"_ _19\"> </span>ne<span class=\"_ _0\"></span>gligen<span class=\"_ _0\"></span>ce, mal-p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e or failure of employe<span class=\"_ _0\"></span>es, or s<span class=\"_ _0\"></span>uppliers to follo<span class=\"_ _0\"></span>w good pr<span class=\"_ _0\"></span>actice in d<span class=\"_ _0\"></span>elivering op<span class=\"_ _0\"></span>erational p<span class=\"_ _0\"></span>roces<span class=\"_ _0\"></span>ses and p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>es. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a5\">It is ac<span class=\"_ _0\"></span>cepted th<span class=\"_ _0\"></span>at it is neithe<span class=\"_ _0\"></span>r possib<span class=\"_ _0\"></span>le, approp<span class=\"_ _0\"></span>riate nor cos<span class=\"_ _0\"></span>t effec<span class=\"_ _0\"></span>tive to eliminate all op<span class=\"_ _0\"></span>eration<span class=\"_ _0\"></span>al risks from the b<span class=\"_ _0\"></span>usiness a<span class=\"_ _0\"></span>s operati<span class=\"_ _0\"></span>onal risk is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a6\">inhere<span class=\"_ _0\"></span>nt in any operatin<span class=\"_ _0\"></span>g environment p<span class=\"_ _0\"></span>artic<span class=\"_ _0\"></span>ularly given th<span class=\"_ _0\"></span>e regulator<span class=\"_ _0\"></span>y fram<span class=\"_ _0\"></span>ework under w<span class=\"_ _0\"></span>hich the Group o<span class=\"_ _0\"></span>perates<span class=\"_ _0\"></span>. As such t<span class=\"_ _0\"></span>he Group will tole<span class=\"_ _0\"></span>rate </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a7\">a deg<span class=\"_ _0\"></span>ree of opera<span class=\"_ _0\"></span>tional risk s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to appropriate an<span class=\"_ _0\"></span>d propor<span class=\"_ _0\"></span>tionate level<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontrol around t<span class=\"_ _0\"></span>he identific<span class=\"_ _0\"></span>ation, ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent and rep<span class=\"_ _0\"></span>orting of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5a8\">such r<span class=\"_ _0\"></span>isks. A set of op<span class=\"_ _0\"></span>eration<span class=\"_ _0\"></span>al risk policie<span class=\"_ _0\"></span>s are maintain<span class=\"_ _0\"></span>ed that se<span class=\"_ _0\"></span>t out the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e operati<span class=\"_ _0\"></span>onal risk exp<span class=\"_ _0\"></span>osure and key control<span class=\"_ _0\"></span>s in<span class=\"_ gs47\"> </span>place to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs5a9\">control the risk.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs5aa\">E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.6 C<span class=\"_ _0\"></span>ustom<span class=\"_ _0\"></span>er risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ab\">Cus<span class=\"_ _0\"></span>tomer risk is t<span class=\"_ _0\"></span>he risk of financ<span class=\"_ _0\"></span>ial failure, rep<span class=\"_ _0\"></span>utationa<span class=\"_ _0\"></span>l loss<span class=\"_ _0\"></span>, loss of ear<span class=\"_ _0\"></span>nings and/<span class=\"_ _2\"></span>or v<span class=\"_ _0\"></span>alue throug<span class=\"_ _0\"></span>h inappropri<span class=\"_ _0\"></span>ate or poor cu<span class=\"_ _0\"></span>stomer tre<span class=\"_ _0\"></span>atment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ac\">(inclu<span class=\"_ _0\"></span>ding poor a<span class=\"_ _0\"></span>dvice). It can ar<span class=\"_ _0\"></span>ise as a result of<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ad\">\u2022 <span class=\"_ _19\"> </span>Cus<span class=\"_ _0\"></span>tomer O<span class=\"_ _0\"></span>utcomes<span class=\"_ _0\"></span>: The risk tha<span class=\"_ _0\"></span>t our decisi<span class=\"_ _0\"></span>ons, a<span class=\"_ _0\"></span>ctions or b<span class=\"_ _0\"></span>ehaviors in<span class=\"_ _0\"></span>dividually or c<span class=\"_ _0\"></span>ollect<span class=\"_ _0\"></span>ively result in a fa<span class=\"_ _0\"></span>ilure to act to delive<span class=\"_ _0\"></span>r good o<span class=\"_ _0\"></span>utcomes </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5ae\">for our cu<span class=\"_ _0\"></span>stomer<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5af\">\u2022 <span class=\"_ _19\"> </span>Cus<span class=\"_ _0\"></span>tomer T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sformation: T<span class=\"_ _0\"></span>he risk that th<span class=\"_ _0\"></span>e design<span class=\"_ _0\"></span>, governan<span class=\"_ _0\"></span>ce and overs<span class=\"_ _0\"></span>ight of Strategic C<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r T<span class=\"_ _4\"></span>rans<span class=\"_ _0\"></span>formation Ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y in retained f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b0\">and s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e providers<span class=\"_ _0\"></span>, fails to deli<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r on reason<span class=\"_ _0\"></span>able cus<span class=\"_ _0\"></span>tomer exp<span class=\"_ _0\"></span>ectat<span class=\"_ _0\"></span>ions, t<span class=\"_ _0\"></span>aking acc<span class=\"_ _0\"></span>ount of the Phoe<span class=\"_ _0\"></span>nix Group cu<span class=\"_ _0\"></span>stomer tre<span class=\"_ _0\"></span>atment risk </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b1\">appe<span class=\"_ _0\"></span>tites and reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y<span class=\"_ gs47\"> </span>requireme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b2\">The Gro<span class=\"_ _0\"></span>up has both a C<span class=\"_ _0\"></span>onduc<span class=\"_ _0\"></span>t Risk appeti<span class=\"_ _0\"></span>te t<span class=\"_ _2\"></span>o fo<span class=\"_ _0\"></span>cus on beh<span class=\"_ _0\"></span>aviours with<span class=\"_ _0\"></span>in the busine<span class=\"_ _0\"></span>ss, a<span class=\"_ _0\"></span>nd a Custom<span class=\"_ _0\"></span>er Risk app<span class=\"_ _0\"></span>etite to focus on a<span class=\"_ _0\"></span>chieving go<span class=\"_ _0\"></span>od </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b3\">cus<span class=\"_ _0\"></span>tomer outc<span class=\"_ _0\"></span>omes<span class=\"_ _0\"></span>. The beh<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ours and s<span class=\"_ _0\"></span>tandar<span class=\"_ _0\"></span>ds all collea<span class=\"_ _0\"></span>gues are exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to achieve are det<span class=\"_ _0\"></span>ailed in our Gro<span class=\"_ _0\"></span>up Code of C<span class=\"_ _0\"></span>onduct<span class=\"_ _0\"></span>. For<span class=\"_ gs47\"> </span>our </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b4\">cus<span class=\"_ _0\"></span>tomers<span class=\"_ _0\"></span>, what rep<span class=\"_ _0\"></span>resents a g<span class=\"_ _0\"></span>ood ou<span class=\"_ _0\"></span>tcome is ar<span class=\"_ _0\"></span>ticulate<span class=\"_ _0\"></span>d in our Custom<span class=\"_ _0\"></span>er Stan<span class=\"_ _0\"></span>dards and sup<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing Busine<span class=\"_ _0\"></span>ss Unit pro<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>es. In a<span class=\"_ _0\"></span>ddition, th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b5\">Group C<span class=\"_ _0\"></span>onduc<span class=\"_ _0\"></span>t Strateg<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, which over<span class=\"_ _0\"></span>arches our R<span class=\"_ _0\"></span>isk Univers<span class=\"_ _0\"></span>e and all risk p<span class=\"_ _0\"></span>olicies is de<span class=\"_ _0\"></span>signed to h<span class=\"_ _0\"></span>elp the Group m<span class=\"_ _0\"></span>eet its aim of he<span class=\"_ _0\"></span>lping peo<span class=\"_ _0\"></span>ple </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b6\">se<span class=\"_ _0\"></span>cure a lifetime of pos<span class=\"_ _0\"></span>sibilities<span class=\"_ _0\"></span>. It see<span class=\"_ _0\"></span>ks t<span class=\"_ _2\"></span>o d<span class=\"_ _0\"></span>o this by put<span class=\"_ _0\"></span>ting custo<span class=\"_ _0\"></span>mers at th<span class=\"_ _0\"></span>e hear<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f o<span class=\"_ _0\"></span>ur strate<span class=\"_ _0\"></span>gy and de<span class=\"_ _0\"></span>cision makin<span class=\"_ _0\"></span>g, ach<span class=\"_ _0\"></span>ieving goo<span class=\"_ _0\"></span>d custom<span class=\"_ _0\"></span>er </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b7\">outco<span class=\"_ _0\"></span>mes and pre<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nting forese<span class=\"_ _0\"></span>eable ha<span class=\"_ _0\"></span>rm. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b8\">The Gro<span class=\"_ _0\"></span>up also ha<span class=\"_ _0\"></span>s a suite of custom<span class=\"_ _0\"></span>er police<span class=\"_ _0\"></span>s which set o<span class=\"_ _0\"></span>ut the k<span class=\"_ _2\"></span>ey c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r risks and co<span class=\"_ _0\"></span>ntrol obje<span class=\"_ _0\"></span>ctives in pla<span class=\"_ _0\"></span>ce to mitigate th<span class=\"_ _0\"></span>em. The c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b9\">risks for<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e Group are reg<span class=\"_ _0\"></span>ularly repo<span class=\"_ _0\"></span>rted to m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment oversig<span class=\"_ _0\"></span>ht commit<span class=\"_ _0\"></span>tees<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-694": {
   "value": "Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are to be c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d into one of the followin<span class=\"_ _0\"></span>g measure<span class=\"_ _0\"></span>ment cate<span class=\"_ _0\"></span>gories<span class=\"_ _0\"></span>: Fair value throug<span class=\"_ _0\"></span>h profit or los<span class=\"_ _0\"></span>s (\u2018F<span class=\"_ _0\"></span>VT<span class=\"_ _0\"></span>PL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>), fair value throu<span class=\"_ _0\"></span>gh other com<span class=\"_ _0\"></span>prehensi<span class=\"_ _0\"></span>ve i<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>come (\u2018<span class=\"_ _0\"></span>FVOC<span class=\"_ _0\"></span>I\u2019<span class=\"_ _0\"></span>) and amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. Classific<span class=\"_ _0\"></span>ation is ma<span class=\"_ _0\"></span>de base<span class=\"_ _0\"></span>d on the obj<span class=\"_ _0\"></span>ectives of th<span class=\"_ _0\"></span>e entity<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s bus<span class=\"_ _0\"></span>iness m<span class=\"_ _0\"></span>odel for man<span class=\"_ _0\"></span>aging it<span class=\"_ _0\"></span>s financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and the cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al cash flow c<span class=\"_ _0\"></span>harac<span class=\"_ _0\"></span>teristic<span class=\"_ _0\"></span>s of the instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are me<span class=\"_ _0\"></span>asured at a<span class=\"_ _0\"></span>mort<span class=\"_ _0\"></span>ised co<span class=\"_ _0\"></span>st where th<span class=\"_ _0\"></span>ey have:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al terms that g<span class=\"_ _0\"></span>ive rise to cas<span class=\"_ _0\"></span>h flows on spe<span class=\"_ _0\"></span>cified date<span class=\"_ _0\"></span>s, that re<span class=\"_ _0\"></span>present s<span class=\"_ _0\"></span>olely paym<span class=\"_ _0\"></span>ents of princip<span class=\"_ _0\"></span>al and interes<span class=\"_ _0\"></span>t on the princ<span class=\"_ _0\"></span>ipal amo<span class=\"_ _0\"></span>unt outst<span class=\"_ _0\"></span>anding; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>are he<span class=\"_ _0\"></span>ld within a busin<span class=\"_ _0\"></span>ess mo<span class=\"_ _0\"></span>del whos<span class=\"_ _0\"></span>e obje<span class=\"_ _0\"></span>ctive is achieve<span class=\"_ _0\"></span>d by holding to c<span class=\"_ _0\"></span>ollect c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual cas<span class=\"_ _0\"></span>h flows.<span class=\"_ _3bd\"> </span>The<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s are initially re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at cos<span class=\"_ _0\"></span>t, be<span class=\"_ _0\"></span>ing the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration paid for t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. All<span class=\"_ gs47\"> </span>tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s directly a<span class=\"_ _0\"></span>ttribut<span class=\"_ _0\"></span>able to the ac<span class=\"_ _0\"></span>quisition are a<span class=\"_ _0\"></span>lso includ<span class=\"_ _0\"></span>ed in the cos<span class=\"_ _0\"></span>t of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, thes<span class=\"_ _0\"></span>e financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>, using the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Equities<span class=\"_ _0\"></span>, debt se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s, colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes<span class=\"_ _0\"></span>, derivatives a<span class=\"_ _0\"></span>nd cer<span class=\"_ _0\"></span>tain loan<span class=\"_ _0\"></span>s and depo<span class=\"_ _0\"></span>sits are me<span class=\"_ _0\"></span>asured at F<span class=\"_ _0\"></span>VTP<span class=\"_ _0\"></span>L as they are man<span class=\"_ _0\"></span>aged and evaluated on a fair<span class=\"_ _2\"></span> value basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Purcha<span class=\"_ _0\"></span>ses and s<span class=\"_ _0\"></span>ales of finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d on the tra<span class=\"_ _0\"></span>de date, which is t<span class=\"_ _0\"></span>he date that the G<span class=\"_ _0\"></span>roup commit<span class=\"_ _0\"></span>s to purchas<span class=\"_ _0\"></span>e or sell the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Where d<span class=\"_ _0\"></span>erivative finan<span class=\"_ _0\"></span>cial inst<span class=\"_ _0\"></span>ruments a<span class=\"_ _0\"></span>re held to hed<span class=\"_ _0\"></span>ge the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, a<span class=\"_ _0\"></span>nd are desig<span class=\"_ _0\"></span>nated as c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges<span class=\"_ _0\"></span>, the ef<span class=\"_ _0\"></span>fective p<span class=\"_ _0\"></span>ortion of any g<span class=\"_ _0\"></span>ain or loss th<span class=\"_ _0\"></span>at arises o<span class=\"_ _0\"></span>n remeas<span class=\"_ _0\"></span>urement to fair val<span class=\"_ _0\"></span>ue is initially re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other co<span class=\"_ _0\"></span>mprehen<span class=\"_ _0\"></span>sive income a<span class=\"_ _0\"></span>nd is rec<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>led to profit or los<span class=\"_ _0\"></span>s as the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>tem impact<span class=\"_ _0\"></span>s the profit or lo<span class=\"_ _0\"></span>ss. For s<span class=\"_ _0\"></span>uch instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, the timing of th<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nition of any gain or lo<span class=\"_ _0\"></span>ss that arise<span class=\"_ _0\"></span>s on remea<span class=\"_ _0\"></span>surement to fa<span class=\"_ _0\"></span>ir value in profit or los<span class=\"_ _0\"></span>s depe<span class=\"_ _0\"></span>nds on the nat<span class=\"_ _0\"></span>ure of the hedg<span class=\"_ _0\"></span>e relations<span class=\"_ _0\"></span>hip.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has treat<span class=\"_ _0\"></span>ies in place w<span class=\"_ _0\"></span>ith third par<span class=\"_ _0\"></span>ty ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ompanies to p<span class=\"_ _0\"></span>rovide reinsura<span class=\"_ _0\"></span>nce in resp<span class=\"_ _0\"></span>ect of liabilit<span class=\"_ _0\"></span>ies that are linked to the per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of funds maint<span class=\"_ _0\"></span>ained by th<span class=\"_ _0\"></span>ose comp<span class=\"_ _0\"></span>anies. T<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>ts in que<span class=\"_ _0\"></span>stion do not tr<span class=\"_ _0\"></span>ansfer sig<span class=\"_ _0\"></span>nificant ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k and therefore a<span class=\"_ _0\"></span>re clas<span class=\"_ _0\"></span>sified as fin<span class=\"_ _0\"></span>ancial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts and are val<span class=\"_ _0\"></span>ued at fair valu<span class=\"_ _0\"></span>e through profit a<span class=\"_ _0\"></span>nd loss<span class=\"_ _0\"></span>. Thes<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are disc<span class=\"_ _0\"></span>losed un<span class=\"_ _0\"></span>der Reinsure<span class=\"_ _0\"></span>rs\u2019 share of investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial po<span class=\"_ _0\"></span>sition.<span class=\"_ _3bd\"> </span>Imp<span class=\"_ _0\"></span>airme<span class=\"_ _0\"></span>nt of finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with it<span class=\"_ _0\"></span>s loans an<span class=\"_ _0\"></span>d deposit<span class=\"_ _0\"></span>s, re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s, ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts and othe<span class=\"_ _0\"></span>r financia<span class=\"_ _0\"></span>l as<span class=\"_ _0\"></span>sets ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cos<span class=\"_ _0\"></span>t. The me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit impairm<span class=\"_ _0\"></span>ent is base<span class=\"_ _0\"></span>d on an E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Credit Los<span class=\"_ _0\"></span>s (\u2018EC<span class=\"_ _0\"></span>L<span class=\"_ _3\"></span>\u2019) m<span class=\"_ _0\"></span>odel an<span class=\"_ _0\"></span>d depend<span class=\"_ _0\"></span>s upon wheth<span class=\"_ _0\"></span>er there ha<span class=\"_ _0\"></span>s been a sig<span class=\"_ _0\"></span>nificant inc<span class=\"_ _0\"></span>rease in cre<span class=\"_ _0\"></span>dit risk.<span class=\"_ _3bd\"> </span>For thos<span class=\"_ _0\"></span>e credit exp<span class=\"_ _0\"></span>osures for whic<span class=\"_ _0\"></span>h credit risk h<span class=\"_ _0\"></span>as not incre<span class=\"_ _0\"></span>ased sig<span class=\"_ _0\"></span>nificantly s<span class=\"_ _0\"></span>ince initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion, the G<span class=\"_ _0\"></span>roup meas<span class=\"_ _0\"></span>ures loss all<span class=\"_ _0\"></span>owances at a<span class=\"_ _0\"></span>n amo<span class=\"_ _0\"></span>unt equal to the tot<span class=\"_ _0\"></span>al expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s resulting from d<span class=\"_ _0\"></span>efault events th<span class=\"_ _0\"></span>at are pos<span class=\"_ _0\"></span>sible within 12 mo<span class=\"_ _0\"></span>nths after t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting date (\u2018<span class=\"_ _0\"></span>12-month ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). For those cre<span class=\"_ _0\"></span>dit expos<span class=\"_ _0\"></span>ures for which the<span class=\"_ _0\"></span>re has be<span class=\"_ _0\"></span>en a signific<span class=\"_ _0\"></span>ant increas<span class=\"_ _0\"></span>e in credit ris<span class=\"_ _0\"></span>k since initial re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ition, the G<span class=\"_ _0\"></span>roup mea<span class=\"_ _0\"></span>sures and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es an allowan<span class=\"_ _0\"></span>ce at an amo<span class=\"_ _0\"></span>unt equal to the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>ses over th<span class=\"_ _0\"></span>e remaining life of the ex<span class=\"_ _0\"></span>posure, irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the timin<span class=\"_ _0\"></span>g of the default (<span class=\"_ _0\"></span>\u2018Lifetime ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). If the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t becom<span class=\"_ _0\"></span>es \u2018credit-impaire<span class=\"_ _0\"></span>d\u2019 (following signifi<span class=\"_ _0\"></span>cant finan<span class=\"_ _0\"></span>cial diffi<span class=\"_ _0\"></span>culty of is<span class=\"_ _0\"></span>suer<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span>borrowe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, or a defaul<span class=\"_ _0\"></span>t/brea<span class=\"_ _0\"></span>ch of a covenant), th<span class=\"_ _0\"></span>e Group will rec<span class=\"_ _0\"></span>ognise a Lifetim<span class=\"_ _0\"></span>e ECL. ECLs a<span class=\"_ _0\"></span>re derived from un<span class=\"_ _0\"></span>biased a<span class=\"_ _0\"></span>nd probabilit<span class=\"_ _0\"></span>y-we<span class=\"_ _0\"></span>ighted es<span class=\"_ _0\"></span>timates of expe<span class=\"_ _0\"></span>cted los<span class=\"_ _0\"></span>s. The lo<span class=\"_ _0\"></span>ss allowan<span class=\"_ _0\"></span>ce reduce<span class=\"_ _0\"></span>s the carr<span class=\"_ _0\"></span>ying va<span class=\"_ _0\"></span>lue of the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t and is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date. ECL<span class=\"_ _0\"></span>s and subs<span class=\"_ _0\"></span>equent reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nts of the ECL, a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>Fair<span class=\"_ _2\"></span> value estimation<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir values of finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets su<span class=\"_ _0\"></span>ch as publicl<span class=\"_ _0\"></span>y traded s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and deriva<span class=\"_ _0\"></span>tives are base<span class=\"_ _0\"></span>d on quoted m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end. Th<span class=\"_ _0\"></span>e quoted mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et pric<span class=\"_ _0\"></span>e used for fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets is t<span class=\"_ _0\"></span>he applica<span class=\"_ _0\"></span>ble bid price o<span class=\"_ _0\"></span>n the perio<span class=\"_ _0\"></span>d end date. Th<span class=\"_ _0\"></span>e fair value of investm<span class=\"_ _0\"></span>ents that a<span class=\"_ _0\"></span>re not trade<span class=\"_ _0\"></span>d in an active m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et is d<span class=\"_ _0\"></span>etermined u<span class=\"_ _0\"></span>sing valuatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnique<span class=\"_ _0\"></span>s such as broker quote<span class=\"_ _0\"></span>s, pric<span class=\"_ _0\"></span>ing model<span class=\"_ _0\"></span>s or discounte<span class=\"_ _0\"></span>d ca<span class=\"_ _0\"></span>sh flow techni<span class=\"_ _0\"></span>ques. Wh<span class=\"_ _0\"></span>ere pricing m<span class=\"_ _0\"></span>odels are u<span class=\"_ _0\"></span>sed, inp<span class=\"_ _0\"></span>uts are ba<span class=\"_ _0\"></span>sed on ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et rel<span class=\"_ _0\"></span>ated data at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd. Where dis<span class=\"_ _0\"></span>counted c<span class=\"_ _0\"></span>ash flow<span class=\"_ _3bd\"> </span>tech<span class=\"_ _0\"></span>niques are us<span class=\"_ _0\"></span>ed, es<span class=\"_ _0\"></span>timated fu<span class=\"_ _0\"></span>ture cash fl<span class=\"_ _0\"></span>ows are base<span class=\"_ _0\"></span>d on contra<span class=\"_ _0\"></span>ctual c<span class=\"_ _0\"></span>ash flows us<span class=\"_ _0\"></span>ing current ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions an<span class=\"_ _0\"></span>d market calibra<span class=\"_ _0\"></span>ted disc<span class=\"_ _0\"></span>ount rates and inte<span class=\"_ _0\"></span>rest rate as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s for similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>For units in un<span class=\"_ _0\"></span>it trust<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>s in open-e<span class=\"_ _0\"></span>nded inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>panies<span class=\"_ _0\"></span>, fair value is de<span class=\"_ _0\"></span>termined by refere<span class=\"_ _0\"></span>nce to publis<span class=\"_ _0\"></span>hed bid val<span class=\"_ _0\"></span>ues. Th<span class=\"_ _0\"></span>e fair value of re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s and floatin<span class=\"_ _0\"></span>g rate and overnight d<span class=\"_ _0\"></span>eposit<span class=\"_ _0\"></span>s with credit in<span class=\"_ _0\"></span>stitutio<span class=\"_ _0\"></span>ns is their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value. The f<span class=\"_ _0\"></span>air value of fixed intere<span class=\"_ _0\"></span>st-bearin<span class=\"_ _0\"></span>g dep<span class=\"_ _0\"></span>osits is es<span class=\"_ _0\"></span>timated us<span class=\"_ _0\"></span>ing disco<span class=\"_ _0\"></span>unted cash fl<span class=\"_ _0\"></span>ow techniqu<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Assoc<span class=\"_ _0\"></span>iates<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tments in as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>tes that are he<span class=\"_ _0\"></span>ld for investme<span class=\"_ _0\"></span>nt purpose<span class=\"_ _0\"></span>s are acco<span class=\"_ _0\"></span>unted for under I<span class=\"_ _0\"></span>FRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures<span class=\"_ _3bd\"> </span>. The<span class=\"_ _0\"></span>se are mea<span class=\"_ _0\"></span>sured at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l assets<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>et (<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r part of a gro<span class=\"_ _0\"></span>up of similar financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets) is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d where:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts to rec<span class=\"_ _0\"></span>eive cash flow<span class=\"_ _0\"></span>s from the as<span class=\"_ _0\"></span>set have expired; \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup retains th<span class=\"_ _0\"></span>e right to rece<span class=\"_ _0\"></span>ive cash flow<span class=\"_ _0\"></span>s from the ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>, but has as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d an obligation to p<span class=\"_ _0\"></span>ay them in full with<span class=\"_ _0\"></span>out materia<span class=\"_ _0\"></span>l delay to<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y under a \u2018pass<span class=\"_ _0\"></span>-through<span class=\"_ _0\"></span>\u2019 arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>; or \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has tra<span class=\"_ _0\"></span>nsferred i<span class=\"_ _0\"></span>ts rights to re<span class=\"_ _0\"></span>ceive ca<span class=\"_ _0\"></span>sh flows from the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d has eithe<span class=\"_ _0\"></span>r transfe<span class=\"_ _0\"></span>rred subs<span class=\"_ _0\"></span>tantially all th<span class=\"_ _0\"></span>e risks and rewa<span class=\"_ _0\"></span>rds of the as<span class=\"_ _0\"></span>set, or ha<span class=\"_ _0\"></span>s neither t<span class=\"_ _0\"></span>ransferre<span class=\"_ _0\"></span>d nor retain<span class=\"_ _0\"></span>ed subs<span class=\"_ _0\"></span>tantially all t<span class=\"_ _0\"></span>he risks and rewa<span class=\"_ _0\"></span>rds of the ass<span class=\"_ _0\"></span>et, but h<span class=\"_ _0\"></span>as transfe<span class=\"_ _0\"></span>rred control of th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-673": {
   "value": "Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are to be c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d into one of the followin<span class=\"_ _0\"></span>g measure<span class=\"_ _0\"></span>ment cate<span class=\"_ _0\"></span>gories<span class=\"_ _0\"></span>: Fair value throug<span class=\"_ _0\"></span>h profit or los<span class=\"_ _0\"></span>s (\u2018F<span class=\"_ _0\"></span>VT<span class=\"_ _0\"></span>PL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>), fair value throu<span class=\"_ _0\"></span>gh other com<span class=\"_ _0\"></span>prehensi<span class=\"_ _0\"></span>ve i<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>come (\u2018<span class=\"_ _0\"></span>FVOC<span class=\"_ _0\"></span>I\u2019<span class=\"_ _0\"></span>) and amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. Classific<span class=\"_ _0\"></span>ation is ma<span class=\"_ _0\"></span>de base<span class=\"_ _0\"></span>d on the obj<span class=\"_ _0\"></span>ectives of th<span class=\"_ _0\"></span>e entity<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s bus<span class=\"_ _0\"></span>iness m<span class=\"_ _0\"></span>odel for man<span class=\"_ _0\"></span>aging it<span class=\"_ _0\"></span>s financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and the cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al cash flow c<span class=\"_ _0\"></span>harac<span class=\"_ _0\"></span>teristic<span class=\"_ _0\"></span>s of the instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are me<span class=\"_ _0\"></span>asured at a<span class=\"_ _0\"></span>mort<span class=\"_ _0\"></span>ised co<span class=\"_ _0\"></span>st where th<span class=\"_ _0\"></span>ey have:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al terms that g<span class=\"_ _0\"></span>ive rise to cas<span class=\"_ _0\"></span>h flows on spe<span class=\"_ _0\"></span>cified date<span class=\"_ _0\"></span>s, that re<span class=\"_ _0\"></span>present s<span class=\"_ _0\"></span>olely paym<span class=\"_ _0\"></span>ents of princip<span class=\"_ _0\"></span>al and interes<span class=\"_ _0\"></span>t on the princ<span class=\"_ _0\"></span>ipal amo<span class=\"_ _0\"></span>unt outst<span class=\"_ _0\"></span>anding; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>are he<span class=\"_ _0\"></span>ld within a busin<span class=\"_ _0\"></span>ess mo<span class=\"_ _0\"></span>del whos<span class=\"_ _0\"></span>e obje<span class=\"_ _0\"></span>ctive is achieve<span class=\"_ _0\"></span>d by holding to c<span class=\"_ _0\"></span>ollect c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual cas<span class=\"_ _0\"></span>h flows.<span class=\"_ _3bd\"> </span>The<span class=\"_ _0\"></span>se financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s are initially re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at cos<span class=\"_ _0\"></span>t, be<span class=\"_ _0\"></span>ing the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration paid for t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. All<span class=\"_ gs47\"> </span>tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s directly a<span class=\"_ _0\"></span>ttribut<span class=\"_ _0\"></span>able to the ac<span class=\"_ _0\"></span>quisition are a<span class=\"_ _0\"></span>lso includ<span class=\"_ _0\"></span>ed in the cos<span class=\"_ _0\"></span>t of the financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>et. Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, thes<span class=\"_ _0\"></span>e financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>, using the ef<span class=\"_ _0\"></span>fective intere<span class=\"_ _0\"></span>st metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Equities<span class=\"_ _0\"></span>, debt se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s, colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes<span class=\"_ _0\"></span>, derivatives a<span class=\"_ _0\"></span>nd cer<span class=\"_ _0\"></span>tain loan<span class=\"_ _0\"></span>s and depo<span class=\"_ _0\"></span>sits are me<span class=\"_ _0\"></span>asured at F<span class=\"_ _0\"></span>VTP<span class=\"_ _0\"></span>L as they are man<span class=\"_ _0\"></span>aged and evaluated on a fair<span class=\"_ _2\"></span> value basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Purcha<span class=\"_ _0\"></span>ses and s<span class=\"_ _0\"></span>ales of finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d on the tra<span class=\"_ _0\"></span>de date, which is t<span class=\"_ _0\"></span>he date that the G<span class=\"_ _0\"></span>roup commit<span class=\"_ _0\"></span>s to purchas<span class=\"_ _0\"></span>e or sell the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Where d<span class=\"_ _0\"></span>erivative finan<span class=\"_ _0\"></span>cial inst<span class=\"_ _0\"></span>ruments a<span class=\"_ _0\"></span>re held to hed<span class=\"_ _0\"></span>ge the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, a<span class=\"_ _0\"></span>nd are desig<span class=\"_ _0\"></span>nated as c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges<span class=\"_ _0\"></span>, the ef<span class=\"_ _0\"></span>fective p<span class=\"_ _0\"></span>ortion of any g<span class=\"_ _0\"></span>ain or loss th<span class=\"_ _0\"></span>at arises o<span class=\"_ _0\"></span>n remeas<span class=\"_ _0\"></span>urement to fair val<span class=\"_ _0\"></span>ue is initially re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other co<span class=\"_ _0\"></span>mprehen<span class=\"_ _0\"></span>sive income a<span class=\"_ _0\"></span>nd is rec<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>led to profit or los<span class=\"_ _0\"></span>s as the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>tem impact<span class=\"_ _0\"></span>s the profit or lo<span class=\"_ _0\"></span>ss. For s<span class=\"_ _0\"></span>uch instr<span class=\"_ _0\"></span>uments<span class=\"_ _0\"></span>, the timing of th<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nition of any gain or lo<span class=\"_ _0\"></span>ss that arise<span class=\"_ _0\"></span>s on remea<span class=\"_ _0\"></span>surement to fa<span class=\"_ _0\"></span>ir value in profit or los<span class=\"_ _0\"></span>s depe<span class=\"_ _0\"></span>nds on the nat<span class=\"_ _0\"></span>ure of the hedg<span class=\"_ _0\"></span>e relations<span class=\"_ _0\"></span>hip.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has treat<span class=\"_ _0\"></span>ies in place w<span class=\"_ _0\"></span>ith third par<span class=\"_ _0\"></span>ty ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ompanies to p<span class=\"_ _0\"></span>rovide reinsura<span class=\"_ _0\"></span>nce in resp<span class=\"_ _0\"></span>ect of liabilit<span class=\"_ _0\"></span>ies that are linked to the per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce of funds maint<span class=\"_ _0\"></span>ained by th<span class=\"_ _0\"></span>ose comp<span class=\"_ _0\"></span>anies. T<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>ts in que<span class=\"_ _0\"></span>stion do not tr<span class=\"_ _0\"></span>ansfer sig<span class=\"_ _0\"></span>nificant ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k and therefore a<span class=\"_ _0\"></span>re clas<span class=\"_ _0\"></span>sified as fin<span class=\"_ _0\"></span>ancial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts and are val<span class=\"_ _0\"></span>ued at fair valu<span class=\"_ _0\"></span>e through profit a<span class=\"_ _0\"></span>nd loss<span class=\"_ _0\"></span>. Thes<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are disc<span class=\"_ _0\"></span>losed un<span class=\"_ _0\"></span>der Reinsure<span class=\"_ _0\"></span>rs\u2019 share of investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial po<span class=\"_ _0\"></span>sition.<span class=\"_ _3bd\"> </span>Imp<span class=\"_ _0\"></span>airme<span class=\"_ _0\"></span>nt of finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with it<span class=\"_ _0\"></span>s loans an<span class=\"_ _0\"></span>d deposit<span class=\"_ _0\"></span>s, re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s, ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts and othe<span class=\"_ _0\"></span>r financia<span class=\"_ _0\"></span>l as<span class=\"_ _0\"></span>sets ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cos<span class=\"_ _0\"></span>t. The me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit impairm<span class=\"_ _0\"></span>ent is base<span class=\"_ _0\"></span>d on an E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Credit Los<span class=\"_ _0\"></span>s (\u2018EC<span class=\"_ _0\"></span>L<span class=\"_ _3\"></span>\u2019) m<span class=\"_ _0\"></span>odel an<span class=\"_ _0\"></span>d depend<span class=\"_ _0\"></span>s upon wheth<span class=\"_ _0\"></span>er there ha<span class=\"_ _0\"></span>s been a sig<span class=\"_ _0\"></span>nificant inc<span class=\"_ _0\"></span>rease in cre<span class=\"_ _0\"></span>dit risk.<span class=\"_ _3bd\"> </span>For thos<span class=\"_ _0\"></span>e credit exp<span class=\"_ _0\"></span>osures for whic<span class=\"_ _0\"></span>h credit risk h<span class=\"_ _0\"></span>as not incre<span class=\"_ _0\"></span>ased sig<span class=\"_ _0\"></span>nificantly s<span class=\"_ _0\"></span>ince initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion, the G<span class=\"_ _0\"></span>roup meas<span class=\"_ _0\"></span>ures loss all<span class=\"_ _0\"></span>owances at a<span class=\"_ _0\"></span>n amo<span class=\"_ _0\"></span>unt equal to the tot<span class=\"_ _0\"></span>al expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s resulting from d<span class=\"_ _0\"></span>efault events th<span class=\"_ _0\"></span>at are pos<span class=\"_ _0\"></span>sible within 12 mo<span class=\"_ _0\"></span>nths after t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting date (\u2018<span class=\"_ _0\"></span>12-month ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). For those cre<span class=\"_ _0\"></span>dit expos<span class=\"_ _0\"></span>ures for which the<span class=\"_ _0\"></span>re has be<span class=\"_ _0\"></span>en a signific<span class=\"_ _0\"></span>ant increas<span class=\"_ _0\"></span>e in credit ris<span class=\"_ _0\"></span>k since initial re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ition, the G<span class=\"_ _0\"></span>roup mea<span class=\"_ _0\"></span>sures and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es an allowan<span class=\"_ _0\"></span>ce at an amo<span class=\"_ _0\"></span>unt equal to the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>ses over th<span class=\"_ _0\"></span>e remaining life of the ex<span class=\"_ _0\"></span>posure, irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the timin<span class=\"_ _0\"></span>g of the default (<span class=\"_ _0\"></span>\u2018Lifetime ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). If the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t becom<span class=\"_ _0\"></span>es \u2018credit-impaire<span class=\"_ _0\"></span>d\u2019 (following signifi<span class=\"_ _0\"></span>cant finan<span class=\"_ _0\"></span>cial diffi<span class=\"_ _0\"></span>culty of is<span class=\"_ _0\"></span>suer<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span>borrowe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, or a defaul<span class=\"_ _0\"></span>t/brea<span class=\"_ _0\"></span>ch of a covenant), th<span class=\"_ _0\"></span>e Group will rec<span class=\"_ _0\"></span>ognise a Lifetim<span class=\"_ _0\"></span>e ECL. ECLs a<span class=\"_ _0\"></span>re derived from un<span class=\"_ _0\"></span>biased a<span class=\"_ _0\"></span>nd probabilit<span class=\"_ _0\"></span>y-we<span class=\"_ _0\"></span>ighted es<span class=\"_ _0\"></span>timates of expe<span class=\"_ _0\"></span>cted los<span class=\"_ _0\"></span>s. The lo<span class=\"_ _0\"></span>ss allowan<span class=\"_ _0\"></span>ce reduce<span class=\"_ _0\"></span>s the carr<span class=\"_ _0\"></span>ying va<span class=\"_ _0\"></span>lue of the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t and is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date. ECL<span class=\"_ _0\"></span>s and subs<span class=\"_ _0\"></span>equent reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nts of the ECL, a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>Fair<span class=\"_ _2\"></span> value estimation<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir values of finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets su<span class=\"_ _0\"></span>ch as publicl<span class=\"_ _0\"></span>y traded s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and deriva<span class=\"_ _0\"></span>tives are base<span class=\"_ _0\"></span>d on quoted m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end. Th<span class=\"_ _0\"></span>e quoted mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et pric<span class=\"_ _0\"></span>e used for fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets is t<span class=\"_ _0\"></span>he applica<span class=\"_ _0\"></span>ble bid price o<span class=\"_ _0\"></span>n the perio<span class=\"_ _0\"></span>d end date. Th<span class=\"_ _0\"></span>e fair value of investm<span class=\"_ _0\"></span>ents that a<span class=\"_ _0\"></span>re not trade<span class=\"_ _0\"></span>d in an active m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et is d<span class=\"_ _0\"></span>etermined u<span class=\"_ _0\"></span>sing valuatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnique<span class=\"_ _0\"></span>s such as broker quote<span class=\"_ _0\"></span>s, pric<span class=\"_ _0\"></span>ing model<span class=\"_ _0\"></span>s or discounte<span class=\"_ _0\"></span>d ca<span class=\"_ _0\"></span>sh flow techni<span class=\"_ _0\"></span>ques. Wh<span class=\"_ _0\"></span>ere pricing m<span class=\"_ _0\"></span>odels are u<span class=\"_ _0\"></span>sed, inp<span class=\"_ _0\"></span>uts are ba<span class=\"_ _0\"></span>sed on ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et rel<span class=\"_ _0\"></span>ated data at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd. Where dis<span class=\"_ _0\"></span>counted c<span class=\"_ _0\"></span>ash flow<span class=\"_ _3bd\"> </span>tech<span class=\"_ _0\"></span>niques are us<span class=\"_ _0\"></span>ed, es<span class=\"_ _0\"></span>timated fu<span class=\"_ _0\"></span>ture cash fl<span class=\"_ _0\"></span>ows are base<span class=\"_ _0\"></span>d on contra<span class=\"_ _0\"></span>ctual c<span class=\"_ _0\"></span>ash flows us<span class=\"_ _0\"></span>ing current ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions an<span class=\"_ _0\"></span>d market calibra<span class=\"_ _0\"></span>ted disc<span class=\"_ _0\"></span>ount rates and inte<span class=\"_ _0\"></span>rest rate as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s for similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>For units in un<span class=\"_ _0\"></span>it trust<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>s in open-e<span class=\"_ _0\"></span>nded inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>panies<span class=\"_ _0\"></span>, fair value is de<span class=\"_ _0\"></span>termined by refere<span class=\"_ _0\"></span>nce to publis<span class=\"_ _0\"></span>hed bid val<span class=\"_ _0\"></span>ues. Th<span class=\"_ _0\"></span>e fair value of re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s and floatin<span class=\"_ _0\"></span>g rate and overnight d<span class=\"_ _0\"></span>eposit<span class=\"_ _0\"></span>s with credit in<span class=\"_ _0\"></span>stitutio<span class=\"_ _0\"></span>ns is their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value. The f<span class=\"_ _0\"></span>air value of fixed intere<span class=\"_ _0\"></span>st-bearin<span class=\"_ _0\"></span>g dep<span class=\"_ _0\"></span>osits is es<span class=\"_ _0\"></span>timated us<span class=\"_ _0\"></span>ing disco<span class=\"_ _0\"></span>unted cash fl<span class=\"_ _0\"></span>ow techniqu<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Assoc<span class=\"_ _0\"></span>iates<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tments in as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>tes that are he<span class=\"_ _0\"></span>ld for investme<span class=\"_ _0\"></span>nt purpose<span class=\"_ _0\"></span>s are acco<span class=\"_ _0\"></span>unted for under I<span class=\"_ _0\"></span>FRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures<span class=\"_ _3bd\"> </span>. The<span class=\"_ _0\"></span>se are mea<span class=\"_ _0\"></span>sured at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l assets<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>et (<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r part of a gro<span class=\"_ _0\"></span>up of similar financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets) is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d where:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts to rec<span class=\"_ _0\"></span>eive cash flow<span class=\"_ _0\"></span>s from the as<span class=\"_ _0\"></span>set have expired; \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup retains th<span class=\"_ _0\"></span>e right to rece<span class=\"_ _0\"></span>ive cash flow<span class=\"_ _0\"></span>s from the ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>, but has as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d an obligation to p<span class=\"_ _0\"></span>ay them in full with<span class=\"_ _0\"></span>out materia<span class=\"_ _0\"></span>l delay to<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y under a \u2018pass<span class=\"_ _0\"></span>-through<span class=\"_ _0\"></span>\u2019 arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>; or \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has tra<span class=\"_ _0\"></span>nsferred i<span class=\"_ _0\"></span>ts rights to re<span class=\"_ _0\"></span>ceive ca<span class=\"_ _0\"></span>sh flows from the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d has eithe<span class=\"_ _0\"></span>r transfe<span class=\"_ _0\"></span>rred subs<span class=\"_ _0\"></span>tantially all th<span class=\"_ _0\"></span>e risks and rewa<span class=\"_ _0\"></span>rds of the as<span class=\"_ _0\"></span>set, or ha<span class=\"_ _0\"></span>s neither t<span class=\"_ _0\"></span>ransferre<span class=\"_ _0\"></span>d nor retain<span class=\"_ _0\"></span>ed subs<span class=\"_ _0\"></span>tantially all t<span class=\"_ _0\"></span>he risks and rewa<span class=\"_ _0\"></span>rds of the ass<span class=\"_ _0\"></span>et, but h<span class=\"_ _0\"></span>as transfe<span class=\"_ _0\"></span>rred control of th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> liab<span class=\"_ _0\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span>On initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition, fin<span class=\"_ _0\"></span>ancial liabili<span class=\"_ _0\"></span>ties are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d when due an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at the fair val<span class=\"_ _0\"></span>ue of the consid<span class=\"_ _0\"></span>eration re<span class=\"_ _0\"></span>ceived le<span class=\"_ _0\"></span>ss direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le transa<span class=\"_ _0\"></span>ction cos<span class=\"_ _0\"></span>ts (with the exc<span class=\"_ _0\"></span>eption of liabilitie<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL for which all tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion cos<span class=\"_ _0\"></span>ts are expe<span class=\"_ _0\"></span>nsed).<span class=\"_ _3bd\"> </span>Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, fin<span class=\"_ _0\"></span>ancial lia<span class=\"_ _0\"></span>bilities (except for liab<span class=\"_ _0\"></span>ilities under inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF and othe<span class=\"_ _0\"></span>r liabilities de<span class=\"_ _0\"></span>signated at FV<span class=\"_ _0\"></span>TPL) are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost using t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive interest m<span class=\"_ _0\"></span>ethod. Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s are design<span class=\"_ _0\"></span>ated upon init<span class=\"_ _0\"></span>ial reco<span class=\"_ _0\"></span>gnition at F<span class=\"_ _0\"></span>VTPL wh<span class=\"_ _0\"></span>ere doing so re<span class=\"_ _0\"></span>sults in mo<span class=\"_ _0\"></span>re meaning<span class=\"_ _0\"></span>ful information b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e either<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>it elim<span class=\"_ _0\"></span>inates or signifi<span class=\"_ _0\"></span>cantly re<span class=\"_ _0\"></span>duces ac<span class=\"_ _0\"></span>counting mi<span class=\"_ _0\"></span>smatches t<span class=\"_ _0\"></span>hat would othe<span class=\"_ _0\"></span>rwise a<span class=\"_ _0\"></span>rise from me<span class=\"_ _0\"></span>asuring as<span class=\"_ _0\"></span>sets or li<span class=\"_ _0\"></span>abilities or re<span class=\"_ _0\"></span>cognisin<span class=\"_ _0\"></span>g the gain<span class=\"_ _0\"></span>s and loss<span class=\"_ _0\"></span>es on them o<span class=\"_ _0\"></span>n different b<span class=\"_ _0\"></span>ases; or<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, financ<span class=\"_ _0\"></span>ial liabilities o<span class=\"_ _0\"></span>r both is mana<span class=\"_ _0\"></span>ged an<span class=\"_ _0\"></span>d its per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce is evaluate<span class=\"_ _0\"></span>d and mana<span class=\"_ _0\"></span>ged on a fa<span class=\"_ _0\"></span>ir value basis<span class=\"_ _0\"></span>, in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith a docum<span class=\"_ _0\"></span>ented risk ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent or investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy<span class=\"_ _2\"></span>, a<span class=\"_ _0\"></span>nd information ab<span class=\"_ _0\"></span>out the inves<span class=\"_ _0\"></span>tments is p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span>ided interna<span class=\"_ _0\"></span>lly on that basi<span class=\"_ _0\"></span>s to the Group\u2019s k<span class=\"_ _2\"></span>ey ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent per<span class=\"_ _0\"></span>sonnel.<span class=\"_ _3bd\"> </span>Inv<span class=\"_ _2\"></span>estment contracts w<span class=\"_ _2\"></span>ithout DPF<span class=\"_ _3bd\"> </span>Contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der which th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance ri<span class=\"_ _0\"></span>sk to the Group from t<span class=\"_ _0\"></span>he policyh<span class=\"_ _0\"></span>older is not s<span class=\"_ _0\"></span>ignificant a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts and a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r as financia<span class=\"_ _0\"></span>l liabilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Rec<span class=\"_ _0\"></span>eipts and p<span class=\"_ _0\"></span>ayments on inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF are acc<span class=\"_ _0\"></span>ounted for using d<span class=\"_ _0\"></span>eposit a<span class=\"_ _0\"></span>ccounting<span class=\"_ _0\"></span>, under w<span class=\"_ _0\"></span>hich the amo<span class=\"_ _0\"></span>unts colle<span class=\"_ _0\"></span>cted and pa<span class=\"_ _0\"></span>id out are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the st<span class=\"_ _0\"></span>atement of<span class=\"_ gs47\"> </span>cons<span class=\"_ _0\"></span>olidated fin<span class=\"_ _0\"></span>ancial po<span class=\"_ _0\"></span>sition as an a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent to the liabilit<span class=\"_ _0\"></span>y to<span class=\"_ gs47\"> </span>the po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at fair value wh<span class=\"_ _0\"></span>ich is determine<span class=\"_ _0\"></span>d using a valu<span class=\"_ _0\"></span>ation techni<span class=\"_ _0\"></span>que to provide a reliab<span class=\"_ _0\"></span>le estim<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e amo<span class=\"_ _0\"></span>unt f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r which the liabili<span class=\"_ _0\"></span>ty co<span class=\"_ _0\"></span>uld be trans<span class=\"_ _0\"></span>ferred in an ord<span class=\"_ _0\"></span>erly trans<span class=\"_ _0\"></span>action b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en market par<span class=\"_ _0\"></span>ticipant<span class=\"_ _0\"></span>s at the mea<span class=\"_ _0\"></span>surement date<span class=\"_ _0\"></span>, subje<span class=\"_ _0\"></span>ct to a minimum e<span class=\"_ _0\"></span>qual to the sur<span class=\"_ _0\"></span>render valu<span class=\"_ _0\"></span>e. The valuat<span class=\"_ _0\"></span>ion of liabilities on unit-linked c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s are held at t<span class=\"_ _0\"></span>he fair value of the re<span class=\"_ _0\"></span>lated as<span class=\"_ _0\"></span>sets and liabilitie<span class=\"_ _0\"></span>s. The lia<span class=\"_ _0\"></span>bility is th<span class=\"_ _0\"></span>e sum of the unit-linked liabiliti<span class=\"_ _0\"></span>es plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exc<span class=\"_ _0\"></span>ess of fut<span class=\"_ _0\"></span>ure policy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Movem<span class=\"_ _0\"></span>ents in the fair v<span class=\"_ _0\"></span>alue of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts witho<span class=\"_ _0\"></span>ut DPF and re<span class=\"_ _0\"></span>insurers\u2019 sh<span class=\"_ _0\"></span>are of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities are inc<span class=\"_ _0\"></span>luded in Ch<span class=\"_ _0\"></span>ange in investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement. Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs are charg<span class=\"_ _0\"></span>ed for polic<span class=\"_ _0\"></span>y administ<span class=\"_ _0\"></span>ration ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces, s<span class=\"_ _0\"></span>urrender<span class=\"_ _0\"></span>s and other contr<span class=\"_ _0\"></span>act fee<span class=\"_ _0\"></span>s. Thes<span class=\"_ _0\"></span>e fees are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as revenu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d in which the rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed. If the fe<span class=\"_ _0\"></span>es are for ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s provide<span class=\"_ _0\"></span>d in future pe<span class=\"_ _0\"></span>riods<span class=\"_ _0\"></span>, they are deferre<span class=\"_ _0\"></span>d and reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r those pe<span class=\"_ _0\"></span>riods. \u2018<span class=\"_ _0\"></span>Front end<span class=\"_ _0\"></span>\u2019 f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es are cha<span class=\"_ _0\"></span>rged on so<span class=\"_ _0\"></span>me non-pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>ting investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. Where the n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract is m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at fair value, s<span class=\"_ _0\"></span>uch fees whi<span class=\"_ _0\"></span>ch relate to the provisi<span class=\"_ _0\"></span>on of future investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es are deferre<span class=\"_ _0\"></span>d and rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as the ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s are provided.<span class=\"_ _3bd\"> </span>Net a<span class=\"_ _0\"></span>sset va<span class=\"_ _0\"></span>lue at<span class=\"_ _0\"></span>tribu<span class=\"_ _0\"></span>table t<span class=\"_ _0\"></span>o unitho<span class=\"_ _0\"></span>lders<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>et asset va<span class=\"_ _0\"></span>lue attr<span class=\"_ _0\"></span>ibutable to unit<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s represent<span class=\"_ _0\"></span>s the non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>st in colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes which a<span class=\"_ _0\"></span>re<span class=\"_ gs47\"> </span>consoli<span class=\"_ _0\"></span>dated by the Gro<span class=\"_ _0\"></span>up. This interes<span class=\"_ _0\"></span>t is clas<span class=\"_ _0\"></span>sified at F<span class=\"_ _0\"></span>VTPL an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at fair value<span class=\"_ _0\"></span>, which is eq<span class=\"_ _0\"></span>ual to the bid value of th<span class=\"_ _0\"></span>e number of unit<span class=\"_ _0\"></span>s of the colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>me not owne<span class=\"_ _0\"></span>d by the Group.<span class=\"_ _3bd\"> </span>Obligations for<span class=\"_ _2\"></span> repayment of<span class=\"_ _2\"></span> collateral received<span class=\"_ _3bd\"> </span>It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al in stock l<span class=\"_ _0\"></span>ending and d<span class=\"_ _0\"></span>erivative tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns, us<span class=\"_ _0\"></span>ually in the form of ca<span class=\"_ _0\"></span>sh or marketabl<span class=\"_ _0\"></span>e securit<span class=\"_ _0\"></span>ies. Where c<span class=\"_ _0\"></span>ash coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived is availab<span class=\"_ _0\"></span>le to the Group for inves<span class=\"_ _0\"></span>tment purp<span class=\"_ _0\"></span>oses<span class=\"_ _0\"></span>, it is reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s a \u2018financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>\u2019 and the c<span class=\"_ _0\"></span>ollateral rep<span class=\"_ _0\"></span>ayable is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as \u2018obligation<span class=\"_ _0\"></span>s for repayment of c<span class=\"_ _0\"></span>ollateral re<span class=\"_ _0\"></span>ceived<span class=\"_ _0\"></span>\u2019 in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition. Th<span class=\"_ _0\"></span>e \u2018<span class=\"_ _2\"></span>oblig<span class=\"_ _0\"></span>ations for repaym<span class=\"_ _0\"></span>ent of collatera<span class=\"_ _0\"></span>l receive<span class=\"_ _0\"></span>d\u2019 are mea<span class=\"_ _0\"></span>sured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t, which in th<span class=\"_ _0\"></span>e case of ca<span class=\"_ _0\"></span>sh is equiva<span class=\"_ _0\"></span>lent to the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration rec<span class=\"_ _0\"></span>eived. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s collateral a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>ote E<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l liabili<span class=\"_ _2\"></span>ties<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial liabilit<span class=\"_ _0\"></span>y is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when th<span class=\"_ _0\"></span>e obligation un<span class=\"_ _0\"></span>der the liabilit<span class=\"_ _0\"></span>y is dis<span class=\"_ _0\"></span>charge<span class=\"_ _0\"></span>d, canc<span class=\"_ _0\"></span>elled or ex<span class=\"_ _0\"></span>pires.<span class=\"_ _3bd\"> </span>Offset<span class=\"_ _0\"></span>ting<span class=\"_ _2\"></span> financial assets and financial li<span class=\"_ _2\"></span>abilities<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities are of<span class=\"_ _0\"></span>fset and t<span class=\"_ _0\"></span>he net amo<span class=\"_ _0\"></span>unt repor<span class=\"_ _0\"></span>ted in the st<span class=\"_ _0\"></span>atement of fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition only whe<span class=\"_ _0\"></span>n there is a le<span class=\"_ _0\"></span>gally enforce<span class=\"_ _0\"></span>able right to of<span class=\"_ _0\"></span>fset the re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed amount<span class=\"_ _0\"></span>s and the<span class=\"_ _0\"></span>re is an intention to set<span class=\"_ _0\"></span>tle on a net b<span class=\"_ _0\"></span>asis, o<span class=\"_ _0\"></span>r to realise the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d settl<span class=\"_ _0\"></span>e the liabilit<span class=\"_ _0\"></span>y simult<span class=\"_ _0\"></span>aneou<span class=\"_ _0\"></span>sly<span class=\"_ _2\"></span>. Wh<span class=\"_ _0\"></span>en financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies are off<span class=\"_ _0\"></span>set any related inte<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense is of<span class=\"_ _0\"></span>fset in the in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> Hedge accoun<span class=\"_ _2\"></span>ting<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up design<span class=\"_ _0\"></span>ates cer<span class=\"_ _0\"></span>tain deriv<span class=\"_ _0\"></span>atives as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to effe<span class=\"_ _0\"></span>ct cas<span class=\"_ _0\"></span>h flow hedg<span class=\"_ _0\"></span>es. At the in<span class=\"_ _0\"></span>ception of the h<span class=\"_ _0\"></span>edge rel<span class=\"_ _0\"></span>ationship, the Gro<span class=\"_ _0\"></span>up docume<span class=\"_ _0\"></span>nts the rela<span class=\"_ _0\"></span>tionship bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing instr<span class=\"_ _0\"></span>ument and the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item, alo<span class=\"_ _0\"></span>ng with its ri<span class=\"_ _0\"></span>sk manag<span class=\"_ _0\"></span>ement ob<span class=\"_ _0\"></span>jecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s and its str<span class=\"_ _0\"></span>ategy for und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>aking variou<span class=\"_ _0\"></span>s hedge tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>therm<span class=\"_ _0\"></span>ore, at the inc<span class=\"_ _0\"></span>eption of the he<span class=\"_ _0\"></span>dge and o<span class=\"_ _0\"></span>n an ongoin<span class=\"_ _0\"></span>g basis<span class=\"_ _0\"></span>, the Group do<span class=\"_ _0\"></span>cuments wheth<span class=\"_ _0\"></span>er the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument is hig<span class=\"_ _0\"></span>hly effe<span class=\"_ _0\"></span>ctive in off<span class=\"_ _0\"></span>settin<span class=\"_ _0\"></span>g chang<span class=\"_ _0\"></span>es in fair value<span class=\"_ _0\"></span>s or cash flo<span class=\"_ _0\"></span>ws of the hedg<span class=\"_ _0\"></span>ed item at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the hed<span class=\"_ _0\"></span>ged risk<span class=\"_ _0\"></span>. Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in profit or loss<span class=\"_ _0\"></span>, and is in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income. Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item. He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d if: the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s hed<span class=\"_ _0\"></span>ging obj<span class=\"_ _0\"></span>ective ha<span class=\"_ _0\"></span>s chang<span class=\"_ _0\"></span>ed (can resul<span class=\"_ _0\"></span>t in a partia<span class=\"_ _0\"></span>l discontinu<span class=\"_ _0\"></span>ance); the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item or hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument no lo<span class=\"_ _0\"></span>nger exi<span class=\"_ _0\"></span>sts or is s<span class=\"_ _0\"></span>old; there is n<span class=\"_ _0\"></span>o longer an e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic relations<span class=\"_ _0\"></span>hip betwe<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged ite<span class=\"_ _0\"></span>m and the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>; or the ef<span class=\"_ _0\"></span>fect of cre<span class=\"_ _0\"></span>dit risk st<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>s to dominate the va<span class=\"_ _0\"></span>lue chang<span class=\"_ _0\"></span>es that res<span class=\"_ _0\"></span>ult from the ec<span class=\"_ _0\"></span>onomic rel<span class=\"_ _0\"></span>ationship. Any g<span class=\"_ _0\"></span>ain or loss re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y at that tim<span class=\"_ _0\"></span>e is recycle<span class=\"_ _0\"></span>d to profit or loss ove<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d the hedg<span class=\"_ _0\"></span>ed item imp<span class=\"_ _0\"></span>acts p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-707": {
   "value": "Imp<span class=\"_ _0\"></span>airme<span class=\"_ _0\"></span>nt of finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with it<span class=\"_ _0\"></span>s loans an<span class=\"_ _0\"></span>d deposit<span class=\"_ _0\"></span>s, re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s, ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts and othe<span class=\"_ _0\"></span>r financia<span class=\"_ _0\"></span>l as<span class=\"_ _0\"></span>sets ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cos<span class=\"_ _0\"></span>t. The me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit impairm<span class=\"_ _0\"></span>ent is base<span class=\"_ _0\"></span>d on an E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Credit Los<span class=\"_ _0\"></span>s (\u2018EC<span class=\"_ _0\"></span>L<span class=\"_ _3\"></span>\u2019) m<span class=\"_ _0\"></span>odel an<span class=\"_ _0\"></span>d depend<span class=\"_ _0\"></span>s upon wheth<span class=\"_ _0\"></span>er there ha<span class=\"_ _0\"></span>s been a sig<span class=\"_ _0\"></span>nificant inc<span class=\"_ _0\"></span>rease in cre<span class=\"_ _0\"></span>dit risk.<span class=\"_ _3bd\"> </span>For thos<span class=\"_ _0\"></span>e credit exp<span class=\"_ _0\"></span>osures for whic<span class=\"_ _0\"></span>h credit risk h<span class=\"_ _0\"></span>as not incre<span class=\"_ _0\"></span>ased sig<span class=\"_ _0\"></span>nificantly s<span class=\"_ _0\"></span>ince initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion, the G<span class=\"_ _0\"></span>roup meas<span class=\"_ _0\"></span>ures loss all<span class=\"_ _0\"></span>owances at a<span class=\"_ _0\"></span>n amo<span class=\"_ _0\"></span>unt equal to the tot<span class=\"_ _0\"></span>al expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s resulting from d<span class=\"_ _0\"></span>efault events th<span class=\"_ _0\"></span>at are pos<span class=\"_ _0\"></span>sible within 12 mo<span class=\"_ _0\"></span>nths after t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting date (\u2018<span class=\"_ _0\"></span>12-month ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). For those cre<span class=\"_ _0\"></span>dit expos<span class=\"_ _0\"></span>ures for which the<span class=\"_ _0\"></span>re has be<span class=\"_ _0\"></span>en a signific<span class=\"_ _0\"></span>ant increas<span class=\"_ _0\"></span>e in credit ris<span class=\"_ _0\"></span>k since initial re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ition, the G<span class=\"_ _0\"></span>roup mea<span class=\"_ _0\"></span>sures and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es an allowan<span class=\"_ _0\"></span>ce at an amo<span class=\"_ _0\"></span>unt equal to the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>ses over th<span class=\"_ _0\"></span>e remaining life of the ex<span class=\"_ _0\"></span>posure, irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the timin<span class=\"_ _0\"></span>g of the default (<span class=\"_ _0\"></span>\u2018Lifetime ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). If the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t becom<span class=\"_ _0\"></span>es \u2018credit-impaire<span class=\"_ _0\"></span>d\u2019 (following signifi<span class=\"_ _0\"></span>cant finan<span class=\"_ _0\"></span>cial diffi<span class=\"_ _0\"></span>culty of is<span class=\"_ _0\"></span>suer<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span>borrowe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, or a defaul<span class=\"_ _0\"></span>t/brea<span class=\"_ _0\"></span>ch of a covenant), th<span class=\"_ _0\"></span>e Group will rec<span class=\"_ _0\"></span>ognise a Lifetim<span class=\"_ _0\"></span>e ECL. ECLs a<span class=\"_ _0\"></span>re derived from un<span class=\"_ _0\"></span>biased a<span class=\"_ _0\"></span>nd probabilit<span class=\"_ _0\"></span>y-we<span class=\"_ _0\"></span>ighted es<span class=\"_ _0\"></span>timates of expe<span class=\"_ _0\"></span>cted los<span class=\"_ _0\"></span>s. The lo<span class=\"_ _0\"></span>ss allowan<span class=\"_ _0\"></span>ce reduce<span class=\"_ _0\"></span>s the carr<span class=\"_ _0\"></span>ying va<span class=\"_ _0\"></span>lue of the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t and is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date. ECL<span class=\"_ _0\"></span>s and subs<span class=\"_ _0\"></span>equent reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nts of the ECL, a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-701": {
   "value": "Imp<span class=\"_ _0\"></span>airme<span class=\"_ _0\"></span>nt of finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses t<span class=\"_ _0\"></span>he expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with it<span class=\"_ _0\"></span>s loans an<span class=\"_ _0\"></span>d deposit<span class=\"_ _0\"></span>s, re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s, ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts and othe<span class=\"_ _0\"></span>r financia<span class=\"_ _0\"></span>l as<span class=\"_ _0\"></span>sets ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cos<span class=\"_ _0\"></span>t. The me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit impairm<span class=\"_ _0\"></span>ent is base<span class=\"_ _0\"></span>d on an E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Credit Los<span class=\"_ _0\"></span>s (\u2018EC<span class=\"_ _0\"></span>L<span class=\"_ _3\"></span>\u2019) m<span class=\"_ _0\"></span>odel an<span class=\"_ _0\"></span>d depend<span class=\"_ _0\"></span>s upon wheth<span class=\"_ _0\"></span>er there ha<span class=\"_ _0\"></span>s been a sig<span class=\"_ _0\"></span>nificant inc<span class=\"_ _0\"></span>rease in cre<span class=\"_ _0\"></span>dit risk.<span class=\"_ _3bd\"> </span>For thos<span class=\"_ _0\"></span>e credit exp<span class=\"_ _0\"></span>osures for whic<span class=\"_ _0\"></span>h credit risk h<span class=\"_ _0\"></span>as not incre<span class=\"_ _0\"></span>ased sig<span class=\"_ _0\"></span>nificantly s<span class=\"_ _0\"></span>ince initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion, the G<span class=\"_ _0\"></span>roup meas<span class=\"_ _0\"></span>ures loss all<span class=\"_ _0\"></span>owances at a<span class=\"_ _0\"></span>n amo<span class=\"_ _0\"></span>unt equal to the tot<span class=\"_ _0\"></span>al expec<span class=\"_ _0\"></span>ted credi<span class=\"_ _0\"></span>t losse<span class=\"_ _0\"></span>s resulting from d<span class=\"_ _0\"></span>efault events th<span class=\"_ _0\"></span>at are pos<span class=\"_ _0\"></span>sible within 12 mo<span class=\"_ _0\"></span>nths after t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting date (\u2018<span class=\"_ _0\"></span>12-month ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). For those cre<span class=\"_ _0\"></span>dit expos<span class=\"_ _0\"></span>ures for which the<span class=\"_ _0\"></span>re has be<span class=\"_ _0\"></span>en a signific<span class=\"_ _0\"></span>ant increas<span class=\"_ _0\"></span>e in credit ris<span class=\"_ _0\"></span>k since initial re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ition, the G<span class=\"_ _0\"></span>roup mea<span class=\"_ _0\"></span>sures and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es an allowan<span class=\"_ _0\"></span>ce at an amo<span class=\"_ _0\"></span>unt equal to the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>ses over th<span class=\"_ _0\"></span>e remaining life of the ex<span class=\"_ _0\"></span>posure, irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the timin<span class=\"_ _0\"></span>g of the default (<span class=\"_ _0\"></span>\u2018Lifetime ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>). If the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t becom<span class=\"_ _0\"></span>es \u2018credit-impaire<span class=\"_ _0\"></span>d\u2019 (following signifi<span class=\"_ _0\"></span>cant finan<span class=\"_ _0\"></span>cial diffi<span class=\"_ _0\"></span>culty of is<span class=\"_ _0\"></span>suer<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span>borrowe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, or a defaul<span class=\"_ _0\"></span>t/brea<span class=\"_ _0\"></span>ch of a covenant), th<span class=\"_ _0\"></span>e Group will rec<span class=\"_ _0\"></span>ognise a Lifetim<span class=\"_ _0\"></span>e ECL. ECLs a<span class=\"_ _0\"></span>re derived from un<span class=\"_ _0\"></span>biased a<span class=\"_ _0\"></span>nd probabilit<span class=\"_ _0\"></span>y-we<span class=\"_ _0\"></span>ighted es<span class=\"_ _0\"></span>timates of expe<span class=\"_ _0\"></span>cted los<span class=\"_ _0\"></span>s. The lo<span class=\"_ _0\"></span>ss allowan<span class=\"_ _0\"></span>ce reduce<span class=\"_ _0\"></span>s the carr<span class=\"_ _0\"></span>ying va<span class=\"_ _0\"></span>lue of the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t and is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date. ECL<span class=\"_ _0\"></span>s and subs<span class=\"_ _0\"></span>equent reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nts of the ECL, a<span class=\"_ _0\"></span>re recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-702": {
   "value": "Fair<span class=\"_ _2\"></span> value estimation<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir values of finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets su<span class=\"_ _0\"></span>ch as publicl<span class=\"_ _0\"></span>y traded s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and deriva<span class=\"_ _0\"></span>tives are base<span class=\"_ _0\"></span>d on quoted m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end. Th<span class=\"_ _0\"></span>e quoted mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et pric<span class=\"_ _0\"></span>e used for fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets is t<span class=\"_ _0\"></span>he applica<span class=\"_ _0\"></span>ble bid price o<span class=\"_ _0\"></span>n the perio<span class=\"_ _0\"></span>d end date. Th<span class=\"_ _0\"></span>e fair value of investm<span class=\"_ _0\"></span>ents that a<span class=\"_ _0\"></span>re not trade<span class=\"_ _0\"></span>d in an active m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et is d<span class=\"_ _0\"></span>etermined u<span class=\"_ _0\"></span>sing valuatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnique<span class=\"_ _0\"></span>s such as broker quote<span class=\"_ _0\"></span>s, pric<span class=\"_ _0\"></span>ing model<span class=\"_ _0\"></span>s or discounte<span class=\"_ _0\"></span>d ca<span class=\"_ _0\"></span>sh flow techni<span class=\"_ _0\"></span>ques. Wh<span class=\"_ _0\"></span>ere pricing m<span class=\"_ _0\"></span>odels are u<span class=\"_ _0\"></span>sed, inp<span class=\"_ _0\"></span>uts are ba<span class=\"_ _0\"></span>sed on ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et rel<span class=\"_ _0\"></span>ated data at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd. Where dis<span class=\"_ _0\"></span>counted c<span class=\"_ _0\"></span>ash flow<span class=\"_ _3bd\"> </span>tech<span class=\"_ _0\"></span>niques are us<span class=\"_ _0\"></span>ed, es<span class=\"_ _0\"></span>timated fu<span class=\"_ _0\"></span>ture cash fl<span class=\"_ _0\"></span>ows are base<span class=\"_ _0\"></span>d on contra<span class=\"_ _0\"></span>ctual c<span class=\"_ _0\"></span>ash flows us<span class=\"_ _0\"></span>ing current ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions an<span class=\"_ _0\"></span>d market calibra<span class=\"_ _0\"></span>ted disc<span class=\"_ _0\"></span>ount rates and inte<span class=\"_ _0\"></span>rest rate as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s for similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>For units in un<span class=\"_ _0\"></span>it trust<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>s in open-e<span class=\"_ _0\"></span>nded inves<span class=\"_ _0\"></span>tment com<span class=\"_ _0\"></span>panies<span class=\"_ _0\"></span>, fair value is de<span class=\"_ _0\"></span>termined by refere<span class=\"_ _0\"></span>nce to publis<span class=\"_ _0\"></span>hed bid val<span class=\"_ _0\"></span>ues. Th<span class=\"_ _0\"></span>e fair value of re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s and floatin<span class=\"_ _0\"></span>g rate and overnight d<span class=\"_ _0\"></span>eposit<span class=\"_ _0\"></span>s with credit in<span class=\"_ _0\"></span>stitutio<span class=\"_ _0\"></span>ns is their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value. The f<span class=\"_ _0\"></span>air value of fixed intere<span class=\"_ _0\"></span>st-bearin<span class=\"_ _0\"></span>g dep<span class=\"_ _0\"></span>osits is es<span class=\"_ _0\"></span>timated us<span class=\"_ _0\"></span>ing disco<span class=\"_ _0\"></span>unted cash fl<span class=\"_ _0\"></span>ow techniqu<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Level 1<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents tra<span class=\"_ _0\"></span>ded in ac<span class=\"_ _0\"></span>tive markets (such as e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>hange tr<span class=\"_ _0\"></span>aded se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s and derivative<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) is b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n quoted market price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end provid<span class=\"_ _0\"></span>ed by reco<span class=\"_ _0\"></span>gnised p<span class=\"_ _0\"></span>ricing ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. Market depth a<span class=\"_ _0\"></span>nd bid-as<span class=\"_ _0\"></span>k spreads a<span class=\"_ _0\"></span>re used to cor<span class=\"_ _0\"></span>roborate whe<span class=\"_ _0\"></span>ther an ac<span class=\"_ _0\"></span>tive market exis<span class=\"_ _0\"></span>ts for an ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. Greater dept<span class=\"_ _0\"></span>h and narrower b<span class=\"_ _0\"></span>id-ask spre<span class=\"_ _0\"></span>ad indic<span class=\"_ _0\"></span>ate higher liqui<span class=\"_ _0\"></span>dity in th<span class=\"_ _0\"></span>e instrum<span class=\"_ _0\"></span>ent and are cla<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 1 input<span class=\"_ _0\"></span>s. For coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes an<span class=\"_ _0\"></span>d reinsurer<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 s<span class=\"_ _0\"></span>hare of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>, fair value is by refe<span class=\"_ _0\"></span>rence to publi<span class=\"_ _0\"></span>shed bid pr<span class=\"_ _0\"></span>ices.<span class=\"_ _3bd\"> </span>Level 2<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s traded in a<span class=\"_ _0\"></span>ctive markets wi<span class=\"_ _0\"></span>th less de<span class=\"_ _0\"></span>pth, or wide<span class=\"_ _0\"></span>r bid-ask sp<span class=\"_ _0\"></span>reads<span class=\"_ _0\"></span>, which do not m<span class=\"_ _0\"></span>eet the cla<span class=\"_ _0\"></span>ssific<span class=\"_ _0\"></span>ation as Level 1 input<span class=\"_ _0\"></span>s, are<span class=\"_ gs47\"> </span>cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 2. The fair val<span class=\"_ _0\"></span>ues of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents not tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets are dete<span class=\"_ _0\"></span>rmined usin<span class=\"_ _0\"></span>g broker quotes or valu<span class=\"_ _0\"></span>ation tech<span class=\"_ _0\"></span>niques with ob<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>vable market input<span class=\"_ _0\"></span>s. Fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s valued us<span class=\"_ _0\"></span>ing broker quotes are cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as Level 2, only wh<span class=\"_ _0\"></span>ere there is a suf<span class=\"_ _0\"></span>ficient ran<span class=\"_ _0\"></span>ge of available qu<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s. The fa<span class=\"_ _0\"></span>ir value of over-the-<span class=\"_ _0\"></span>counter deri<span class=\"_ _0\"></span>vatives is es<span class=\"_ _0\"></span>timated usin<span class=\"_ _0\"></span>g pricing mo<span class=\"_ _0\"></span>dels or disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flow tech<span class=\"_ _0\"></span>niques<span class=\"_ _0\"></span>. Collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es where the un<span class=\"_ _0\"></span>derlying a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are not price<span class=\"_ _0\"></span>d using ac<span class=\"_ _0\"></span>tive market prices a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d to be Level 2 ins<span class=\"_ _0\"></span>truments a<span class=\"_ _0\"></span>nd will includ<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s which have a mate<span class=\"_ _0\"></span>rial underl<span class=\"_ _0\"></span>ying holding<span class=\"_ _0\"></span>s within real e<span class=\"_ _0\"></span>state/<span class=\"_ _2\"></span>pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty. Where pric<span class=\"_ _0\"></span>ing mod<span class=\"_ _0\"></span>els are use<span class=\"_ _0\"></span>d, input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on market related d<span class=\"_ _0\"></span>ata at the pe<span class=\"_ _0\"></span>riod end. W<span class=\"_ _0\"></span>here disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flows are<span class=\"_ gs47\"> </span>use<span class=\"_ _0\"></span>d, es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s are bas<span class=\"_ _0\"></span>ed on man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent\u2019s bes<span class=\"_ _0\"></span>t estimate<span class=\"_ _0\"></span>s and the disc<span class=\"_ _0\"></span>ount rate use<span class=\"_ _0\"></span>d is a market relate<span class=\"_ _0\"></span>d rate for<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es reflec<span class=\"_ _0\"></span>ts the fair va<span class=\"_ _0\"></span>lue of the underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities in the fun<span class=\"_ _0\"></span>ds plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exce<span class=\"_ _0\"></span>ss of future p<span class=\"_ _0\"></span>olicy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charge<span class=\"_ _0\"></span>s. The liab<span class=\"_ _0\"></span>ilities are con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>ntly determine<span class=\"_ _0\"></span>d to be Level 2 inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Level 3<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y va<span class=\"_ _0\"></span>luation tec<span class=\"_ _0\"></span>hniques usin<span class=\"_ _0\"></span>g non-ob<span class=\"_ _0\"></span>serv<span class=\"_ _0\"></span>able market input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on a combin<span class=\"_ _0\"></span>ation of<span class=\"_ gs47\"> </span>indep<span class=\"_ _0\"></span>endent third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce and intern<span class=\"_ _0\"></span>ally develope<span class=\"_ _0\"></span>d mode<span class=\"_ _0\"></span>ls. In rela<span class=\"_ _0\"></span>tion to investme<span class=\"_ _0\"></span>nts in hed<span class=\"_ _0\"></span>ge funds an<span class=\"_ _0\"></span>d private equit<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, non-<span class=\"_ _0\"></span>obser<span class=\"_ _0\"></span>vable third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce in the form of net as<span class=\"_ _0\"></span>set valua<span class=\"_ _0\"></span>tion state<span class=\"_ _0\"></span>ments is us<span class=\"_ _0\"></span>ed as the b<span class=\"_ _0\"></span>asis for the valu<span class=\"_ _0\"></span>ation. Adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts may be ma<span class=\"_ _0\"></span>de to the net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>uation where oth<span class=\"_ _0\"></span>er eviden<span class=\"_ _0\"></span>ce, for exampl<span class=\"_ _0\"></span>e recent s<span class=\"_ _0\"></span>ales of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments in the<span class=\"_ gs47\"> </span>f<span class=\"_ _0\"></span>und, indic<span class=\"_ _0\"></span>ates this is re<span class=\"_ _0\"></span>quired. Se<span class=\"_ _0\"></span>curities th<span class=\"_ _0\"></span>at are valued u<span class=\"_ _0\"></span>sing broker quotes whic<span class=\"_ _0\"></span>h could not b<span class=\"_ _0\"></span>e corrobor<span class=\"_ _0\"></span>ated acros<span class=\"_ _0\"></span>s a suf<span class=\"_ _0\"></span>ficient rang<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>of quotes are con<span class=\"_ _0\"></span>sidered a<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>eve<span class=\"_ _0\"></span>l 3. For<span class=\"_ gs47\"> </span>a small n<span class=\"_ _0\"></span>umber of invest<span class=\"_ _0\"></span>ment vehicle<span class=\"_ _0\"></span>s and debt se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, st<span class=\"_ _0\"></span>andard valu<span class=\"_ _0\"></span>ation mode<span class=\"_ _0\"></span>ls are used<span class=\"_ _0\"></span>, as due to their n<span class=\"_ _0\"></span>ature and co<span class=\"_ _0\"></span>mplexit<span class=\"_ _0\"></span>y they have no ex<span class=\"_ _0\"></span>ternal m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>. Input<span class=\"_ _0\"></span>s into such mod<span class=\"_ _0\"></span>els are bas<span class=\"_ _0\"></span>ed on obse<span class=\"_ _0\"></span>rvabl<span class=\"_ _0\"></span>e market data where p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f lo<span class=\"_ _0\"></span>ans, d<span class=\"_ _0\"></span>erivatives an<span class=\"_ _0\"></span>d som<span class=\"_ _0\"></span>e borrowing<span class=\"_ _0\"></span>s with no ex<span class=\"_ _0\"></span>ternal market is dete<span class=\"_ _0\"></span>rmined by intern<span class=\"_ _0\"></span>ally develop<span class=\"_ _0\"></span>ed disco<span class=\"_ _0\"></span>unted cas<span class=\"_ _0\"></span>h flow model<span class=\"_ _0\"></span>s using approp<span class=\"_ _0\"></span>riate assum<span class=\"_ _0\"></span>ptions corro<span class=\"_ _0\"></span>borated wi<span class=\"_ _0\"></span>th extern<span class=\"_ _0\"></span>al market data whe<span class=\"_ _0\"></span>re possib<span class=\"_ _0\"></span>le.<span class=\"_ _3bd\"> </span>For finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments th<span class=\"_ _0\"></span>at are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t fair value on a re<span class=\"_ _0\"></span>curring bas<span class=\"_ _0\"></span>is, the G<span class=\"_ _0\"></span>roup determine<span class=\"_ _0\"></span>s whether t<span class=\"_ _0\"></span>ransfer<span class=\"_ _0\"></span>s have occurre<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween levels in th<span class=\"_ _0\"></span>e hierarchy by rea<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing cate<span class=\"_ _0\"></span>gorisa<span class=\"_ _0\"></span>tion (base<span class=\"_ _0\"></span>d on the lowes<span class=\"_ _0\"></span>t level input th<span class=\"_ _0\"></span>at is signific<span class=\"_ _0\"></span>ant to the fair valu<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment as a who<span class=\"_ _0\"></span>le<span class=\"_ _2\"></span>) during e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>eriod.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-704": {
   "value": "Assoc<span class=\"_ _0\"></span>iates<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tments in as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>tes that are he<span class=\"_ _0\"></span>ld for investme<span class=\"_ _0\"></span>nt purpose<span class=\"_ _0\"></span>s are acco<span class=\"_ _0\"></span>unted for under I<span class=\"_ _0\"></span>FRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures<span class=\"_ _3bd\"> </span>. The<span class=\"_ _0\"></span>se are mea<span class=\"_ _0\"></span>sured at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>As<span class=\"_ _0\"></span>sociates a<span class=\"_ _0\"></span>re entities over whic<span class=\"_ _0\"></span>h the Group ha<span class=\"_ _0\"></span>s significa<span class=\"_ _0\"></span>nt influenc<span class=\"_ _0\"></span>e, but which it d<span class=\"_ _0\"></span>oes not co<span class=\"_ _0\"></span>ntrol. Gene<span class=\"_ _0\"></span>rally it is pre<span class=\"_ _0\"></span>sumed th<span class=\"_ _0\"></span>at the Group ha<span class=\"_ _0\"></span>s signifi<span class=\"_ _0\"></span>cant influen<span class=\"_ _0\"></span>ce if it holds b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en 20% and 5<span class=\"_ _0\"></span>0% of the voting right<span class=\"_ _0\"></span>s of the entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in asso<span class=\"_ _0\"></span>ciates that are h<span class=\"_ _0\"></span>eld for investm<span class=\"_ _0\"></span>ent purp<span class=\"_ _0\"></span>oses are ac<span class=\"_ _0\"></span>counted for un<span class=\"_ _0\"></span>der IFRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures. The<span class=\"_ _0\"></span>se are mea<span class=\"_ _0\"></span>sured at fair va<span class=\"_ _0\"></span>lue through p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>. Those h<span class=\"_ _0\"></span>eld for str<span class=\"_ _0\"></span>ategic purp<span class=\"_ _0\"></span>oses are a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r using the e<span class=\"_ _0\"></span>quity m<span class=\"_ _0\"></span>ethod of acc<span class=\"_ _0\"></span>ounting<span class=\"_ _0\"></span>. Under the e<span class=\"_ _0\"></span>quity m<span class=\"_ _0\"></span>ethod, o<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition th<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment in an a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iate is recog<span class=\"_ _0\"></span>nised at c<span class=\"_ _0\"></span>ost. T<span class=\"_ _0\"></span>he carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>e is then update<span class=\"_ _0\"></span>d to reflec<span class=\"_ _0\"></span>t the Group\u2019s share of profit o<span class=\"_ _0\"></span>r loss of its a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ate and that sh<span class=\"_ _0\"></span>are is reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-705": {
   "value": "Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l assets<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>et (<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r part of a gro<span class=\"_ _0\"></span>up of similar financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets) is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d where:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts to rec<span class=\"_ _0\"></span>eive cash flow<span class=\"_ _0\"></span>s from the as<span class=\"_ _0\"></span>set have expired; \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup retains th<span class=\"_ _0\"></span>e right to rece<span class=\"_ _0\"></span>ive cash flow<span class=\"_ _0\"></span>s from the ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>, but has as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d an obligation to p<span class=\"_ _0\"></span>ay them in full with<span class=\"_ _0\"></span>out materia<span class=\"_ _0\"></span>l delay to<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y under a \u2018pass<span class=\"_ _0\"></span>-through<span class=\"_ _0\"></span>\u2019 arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>; or \u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has tra<span class=\"_ _0\"></span>nsferred i<span class=\"_ _0\"></span>ts rights to re<span class=\"_ _0\"></span>ceive ca<span class=\"_ _0\"></span>sh flows from the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d has eithe<span class=\"_ _0\"></span>r transfe<span class=\"_ _0\"></span>rred subs<span class=\"_ _0\"></span>tantially all th<span class=\"_ _0\"></span>e risks and rewa<span class=\"_ _0\"></span>rds of the as<span class=\"_ _0\"></span>set, or ha<span class=\"_ _0\"></span>s neither t<span class=\"_ _0\"></span>ransferre<span class=\"_ _0\"></span>d nor retain<span class=\"_ _0\"></span>ed subs<span class=\"_ _0\"></span>tantially all t<span class=\"_ _0\"></span>he risks and rewa<span class=\"_ _0\"></span>rds of the ass<span class=\"_ _0\"></span>et, but h<span class=\"_ _0\"></span>as transfe<span class=\"_ _0\"></span>rred control of th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l liabili<span class=\"_ _2\"></span>ties<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial liabilit<span class=\"_ _0\"></span>y is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when th<span class=\"_ _0\"></span>e obligation un<span class=\"_ _0\"></span>der the liabilit<span class=\"_ _0\"></span>y is dis<span class=\"_ _0\"></span>charge<span class=\"_ _0\"></span>d, canc<span class=\"_ _0\"></span>elled or ex<span class=\"_ _0\"></span>pires.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-695": {
   "value": "Financia<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> liab<span class=\"_ _0\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span>On initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition, fin<span class=\"_ _0\"></span>ancial liabili<span class=\"_ _0\"></span>ties are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d when due an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at the fair val<span class=\"_ _0\"></span>ue of the consid<span class=\"_ _0\"></span>eration re<span class=\"_ _0\"></span>ceived le<span class=\"_ _0\"></span>ss direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le transa<span class=\"_ _0\"></span>ction cos<span class=\"_ _0\"></span>ts (with the exc<span class=\"_ _0\"></span>eption of liabilitie<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL for which all tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion cos<span class=\"_ _0\"></span>ts are expe<span class=\"_ _0\"></span>nsed).<span class=\"_ _3bd\"> </span>Subs<span class=\"_ _0\"></span>equent to ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, fin<span class=\"_ _0\"></span>ancial lia<span class=\"_ _0\"></span>bilities (except for liab<span class=\"_ _0\"></span>ilities under inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF and othe<span class=\"_ _0\"></span>r liabilities de<span class=\"_ _0\"></span>signated at FV<span class=\"_ _0\"></span>TPL) are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost using t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive interest m<span class=\"_ _0\"></span>ethod. Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s are design<span class=\"_ _0\"></span>ated upon init<span class=\"_ _0\"></span>ial reco<span class=\"_ _0\"></span>gnition at F<span class=\"_ _0\"></span>VTPL wh<span class=\"_ _0\"></span>ere doing so re<span class=\"_ _0\"></span>sults in mo<span class=\"_ _0\"></span>re meaning<span class=\"_ _0\"></span>ful information b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e either<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>it elim<span class=\"_ _0\"></span>inates or signifi<span class=\"_ _0\"></span>cantly re<span class=\"_ _0\"></span>duces ac<span class=\"_ _0\"></span>counting mi<span class=\"_ _0\"></span>smatches t<span class=\"_ _0\"></span>hat would othe<span class=\"_ _0\"></span>rwise a<span class=\"_ _0\"></span>rise from me<span class=\"_ _0\"></span>asuring as<span class=\"_ _0\"></span>sets or li<span class=\"_ _0\"></span>abilities or re<span class=\"_ _0\"></span>cognisin<span class=\"_ _0\"></span>g the gain<span class=\"_ _0\"></span>s and loss<span class=\"_ _0\"></span>es on them o<span class=\"_ _0\"></span>n different b<span class=\"_ _0\"></span>ases; or<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, financ<span class=\"_ _0\"></span>ial liabilities o<span class=\"_ _0\"></span>r both is mana<span class=\"_ _0\"></span>ged an<span class=\"_ _0\"></span>d its per<span class=\"_ _0\"></span>forman<span class=\"_ _0\"></span>ce is evaluate<span class=\"_ _0\"></span>d and mana<span class=\"_ _0\"></span>ged on a fa<span class=\"_ _0\"></span>ir value basis<span class=\"_ _0\"></span>, in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith a docum<span class=\"_ _0\"></span>ented risk ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent or investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy<span class=\"_ _2\"></span>, a<span class=\"_ _0\"></span>nd information ab<span class=\"_ _0\"></span>out the inves<span class=\"_ _0\"></span>tments is p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span>ided interna<span class=\"_ _0\"></span>lly on that basi<span class=\"_ _0\"></span>s to the Group\u2019s k<span class=\"_ _2\"></span>ey ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent per<span class=\"_ _0\"></span>sonnel.<span class=\"_ _3bd\"> </span>Inv<span class=\"_ _2\"></span>estment contracts w<span class=\"_ _2\"></span>ithout DPF<span class=\"_ _3bd\"> </span>Contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der which th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance ri<span class=\"_ _0\"></span>sk to the Group from t<span class=\"_ _0\"></span>he policyh<span class=\"_ _0\"></span>older is not s<span class=\"_ _0\"></span>ignificant a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts and a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r as financia<span class=\"_ _0\"></span>l liabilities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Rec<span class=\"_ _0\"></span>eipts and p<span class=\"_ _0\"></span>ayments on inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF are acc<span class=\"_ _0\"></span>ounted for using d<span class=\"_ _0\"></span>eposit a<span class=\"_ _0\"></span>ccounting<span class=\"_ _0\"></span>, under w<span class=\"_ _0\"></span>hich the amo<span class=\"_ _0\"></span>unts colle<span class=\"_ _0\"></span>cted and pa<span class=\"_ _0\"></span>id out are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the st<span class=\"_ _0\"></span>atement of<span class=\"_ gs47\"> </span>cons<span class=\"_ _0\"></span>olidated fin<span class=\"_ _0\"></span>ancial po<span class=\"_ _0\"></span>sition as an a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent to the liabilit<span class=\"_ _0\"></span>y to<span class=\"_ gs47\"> </span>the po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at fair value wh<span class=\"_ _0\"></span>ich is determine<span class=\"_ _0\"></span>d using a valu<span class=\"_ _0\"></span>ation techni<span class=\"_ _0\"></span>que to provide a reliab<span class=\"_ _0\"></span>le estim<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e amo<span class=\"_ _0\"></span>unt f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r which the liabili<span class=\"_ _0\"></span>ty co<span class=\"_ _0\"></span>uld be trans<span class=\"_ _0\"></span>ferred in an ord<span class=\"_ _0\"></span>erly trans<span class=\"_ _0\"></span>action b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en market par<span class=\"_ _0\"></span>ticipant<span class=\"_ _0\"></span>s at the mea<span class=\"_ _0\"></span>surement date<span class=\"_ _0\"></span>, subje<span class=\"_ _0\"></span>ct to a minimum e<span class=\"_ _0\"></span>qual to the sur<span class=\"_ _0\"></span>render valu<span class=\"_ _0\"></span>e. The valuat<span class=\"_ _0\"></span>ion of liabilities on unit-linked c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s are held at t<span class=\"_ _0\"></span>he fair value of the re<span class=\"_ _0\"></span>lated as<span class=\"_ _0\"></span>sets and liabilitie<span class=\"_ _0\"></span>s. The lia<span class=\"_ _0\"></span>bility is th<span class=\"_ _0\"></span>e sum of the unit-linked liabiliti<span class=\"_ _0\"></span>es plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exc<span class=\"_ _0\"></span>ess of fut<span class=\"_ _0\"></span>ure policy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Movem<span class=\"_ _0\"></span>ents in the fair v<span class=\"_ _0\"></span>alue of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts witho<span class=\"_ _0\"></span>ut DPF and re<span class=\"_ _0\"></span>insurers\u2019 sh<span class=\"_ _0\"></span>are of inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities are inc<span class=\"_ _0\"></span>luded in Ch<span class=\"_ _0\"></span>ange in investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement. Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs are charg<span class=\"_ _0\"></span>ed for polic<span class=\"_ _0\"></span>y administ<span class=\"_ _0\"></span>ration ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces, s<span class=\"_ _0\"></span>urrender<span class=\"_ _0\"></span>s and other contr<span class=\"_ _0\"></span>act fee<span class=\"_ _0\"></span>s. Thes<span class=\"_ _0\"></span>e fees are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as revenu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d in which the rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed. If the fe<span class=\"_ _0\"></span>es are for ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s provide<span class=\"_ _0\"></span>d in future pe<span class=\"_ _0\"></span>riods<span class=\"_ _0\"></span>, they are deferre<span class=\"_ _0\"></span>d and reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r those pe<span class=\"_ _0\"></span>riods. \u2018<span class=\"_ _0\"></span>Front end<span class=\"_ _0\"></span>\u2019 f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es are cha<span class=\"_ _0\"></span>rged on so<span class=\"_ _0\"></span>me non-pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>ting investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. Where the n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract is m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at fair value, s<span class=\"_ _0\"></span>uch fees whi<span class=\"_ _0\"></span>ch relate to the provisi<span class=\"_ _0\"></span>on of future investm<span class=\"_ _0\"></span>ent mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es are deferre<span class=\"_ _0\"></span>d and rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as the ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s are provided.<span class=\"_ _3bd\"> </span>Net a<span class=\"_ _0\"></span>sset va<span class=\"_ _0\"></span>lue at<span class=\"_ _0\"></span>tribu<span class=\"_ _0\"></span>table t<span class=\"_ _0\"></span>o unitho<span class=\"_ _0\"></span>lders<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>et asset va<span class=\"_ _0\"></span>lue attr<span class=\"_ _0\"></span>ibutable to unit<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s represent<span class=\"_ _0\"></span>s the non-<span class=\"_ _0\"></span>controlling intere<span class=\"_ _0\"></span>st in colle<span class=\"_ _0\"></span>ctive invest<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes which a<span class=\"_ _0\"></span>re<span class=\"_ gs47\"> </span>consoli<span class=\"_ _0\"></span>dated by the Gro<span class=\"_ _0\"></span>up. This interes<span class=\"_ _0\"></span>t is clas<span class=\"_ _0\"></span>sified at F<span class=\"_ _0\"></span>VTPL an<span class=\"_ _0\"></span>d measure<span class=\"_ _0\"></span>d at fair value<span class=\"_ _0\"></span>, which is eq<span class=\"_ _0\"></span>ual to the bid value of th<span class=\"_ _0\"></span>e number of unit<span class=\"_ _0\"></span>s of the colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>me not owne<span class=\"_ _0\"></span>d by the Group.<span class=\"_ _3bd\"> </span>Obligations for<span class=\"_ _2\"></span> repayment of<span class=\"_ _2\"></span> collateral received<span class=\"_ _3bd\"> </span>It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al in stock l<span class=\"_ _0\"></span>ending and d<span class=\"_ _0\"></span>erivative tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns, us<span class=\"_ _0\"></span>ually in the form of ca<span class=\"_ _0\"></span>sh or marketabl<span class=\"_ _0\"></span>e securit<span class=\"_ _0\"></span>ies. Where c<span class=\"_ _0\"></span>ash coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived is availab<span class=\"_ _0\"></span>le to the Group for inves<span class=\"_ _0\"></span>tment purp<span class=\"_ _0\"></span>oses<span class=\"_ _0\"></span>, it is reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s a \u2018financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>\u2019 and the c<span class=\"_ _0\"></span>ollateral rep<span class=\"_ _0\"></span>ayable is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as \u2018obligation<span class=\"_ _0\"></span>s for repayment of c<span class=\"_ _0\"></span>ollateral re<span class=\"_ _0\"></span>ceived<span class=\"_ _0\"></span>\u2019 in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition. Th<span class=\"_ _0\"></span>e \u2018<span class=\"_ _2\"></span>oblig<span class=\"_ _0\"></span>ations for repaym<span class=\"_ _0\"></span>ent of collatera<span class=\"_ _0\"></span>l receive<span class=\"_ _0\"></span>d\u2019 are mea<span class=\"_ _0\"></span>sured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t, which in th<span class=\"_ _0\"></span>e case of ca<span class=\"_ _0\"></span>sh is equiva<span class=\"_ _0\"></span>lent to the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>ration rec<span class=\"_ _0\"></span>eived. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s collateral a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>ote E<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Derecognitio<span class=\"_ _2\"></span>n of financia<span class=\"_ _2\"></span>l liabili<span class=\"_ _2\"></span>ties<span class=\"_ _3bd\"> </span>A finan<span class=\"_ _0\"></span>cial liabilit<span class=\"_ _0\"></span>y is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when th<span class=\"_ _0\"></span>e obligation un<span class=\"_ _0\"></span>der the liabilit<span class=\"_ _0\"></span>y is dis<span class=\"_ _0\"></span>charge<span class=\"_ _0\"></span>d, canc<span class=\"_ _0\"></span>elled or ex<span class=\"_ _0\"></span>pires.<span class=\"_ _3bd\"> </span>Offset<span class=\"_ _0\"></span>ting<span class=\"_ _2\"></span> financial assets and financial li<span class=\"_ _2\"></span>abilities<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities are of<span class=\"_ _0\"></span>fset and t<span class=\"_ _0\"></span>he net amo<span class=\"_ _0\"></span>unt repor<span class=\"_ _0\"></span>ted in the st<span class=\"_ _0\"></span>atement of fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition only whe<span class=\"_ _0\"></span>n there is a le<span class=\"_ _0\"></span>gally enforce<span class=\"_ _0\"></span>able right to of<span class=\"_ _0\"></span>fset the re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed amount<span class=\"_ _0\"></span>s and the<span class=\"_ _0\"></span>re is an intention to set<span class=\"_ _0\"></span>tle on a net b<span class=\"_ _0\"></span>asis, o<span class=\"_ _0\"></span>r to realise the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d settl<span class=\"_ _0\"></span>e the liabilit<span class=\"_ _0\"></span>y simult<span class=\"_ _0\"></span>aneou<span class=\"_ _0\"></span>sly<span class=\"_ _2\"></span>. Wh<span class=\"_ _0\"></span>en financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies are off<span class=\"_ _0\"></span>set any related inte<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense is of<span class=\"_ _0\"></span>fset in the in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Hedge accoun<span class=\"_ _2\"></span>ting<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up design<span class=\"_ _0\"></span>ates cer<span class=\"_ _0\"></span>tain deriv<span class=\"_ _0\"></span>atives as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to effe<span class=\"_ _0\"></span>ct cas<span class=\"_ _0\"></span>h flow hedg<span class=\"_ _0\"></span>es. At the in<span class=\"_ _0\"></span>ception of the h<span class=\"_ _0\"></span>edge rel<span class=\"_ _0\"></span>ationship, the Gro<span class=\"_ _0\"></span>up docume<span class=\"_ _0\"></span>nts the rela<span class=\"_ _0\"></span>tionship bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he hedg<span class=\"_ _0\"></span>ing instr<span class=\"_ _0\"></span>ument and the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item, alo<span class=\"_ _0\"></span>ng with its ri<span class=\"_ _0\"></span>sk manag<span class=\"_ _0\"></span>ement ob<span class=\"_ _0\"></span>jecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s and its str<span class=\"_ _0\"></span>ategy for und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>aking variou<span class=\"_ _0\"></span>s hedge tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>therm<span class=\"_ _0\"></span>ore, at the inc<span class=\"_ _0\"></span>eption of the he<span class=\"_ _0\"></span>dge and o<span class=\"_ _0\"></span>n an ongoin<span class=\"_ _0\"></span>g basis<span class=\"_ _0\"></span>, the Group do<span class=\"_ _0\"></span>cuments wheth<span class=\"_ _0\"></span>er the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument is hig<span class=\"_ _0\"></span>hly effe<span class=\"_ _0\"></span>ctive in off<span class=\"_ _0\"></span>settin<span class=\"_ _0\"></span>g chang<span class=\"_ _0\"></span>es in fair value<span class=\"_ _0\"></span>s or cash flo<span class=\"_ _0\"></span>ws of the hedg<span class=\"_ _0\"></span>ed item at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the hed<span class=\"_ _0\"></span>ged risk<span class=\"_ _0\"></span>. Where a c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging re<span class=\"_ _0\"></span>lationship exi<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, the effe<span class=\"_ _0\"></span>ctive por<span class=\"_ _0\"></span>tion of chan<span class=\"_ _0\"></span>ges in the f<span class=\"_ _0\"></span>air value of derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s that are desi<span class=\"_ _0\"></span>gnated an<span class=\"_ _0\"></span>d qualif<span class=\"_ _0\"></span>y as ca<span class=\"_ _0\"></span>sh flow hedg<span class=\"_ _0\"></span>es is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other comp<span class=\"_ _0\"></span>rehensi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under the h<span class=\"_ _0\"></span>eading of c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dging res<span class=\"_ _0\"></span>erve. Th<span class=\"_ _0\"></span>e gain or los<span class=\"_ _0\"></span>s relating to the in<span class=\"_ _0\"></span>effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion is reco<span class=\"_ _0\"></span>gnised im<span class=\"_ _0\"></span>mediatel<span class=\"_ _0\"></span>y in profit or loss<span class=\"_ _0\"></span>, and is in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income. Amo<span class=\"_ _0\"></span>unts previous<span class=\"_ _0\"></span>ly reco<span class=\"_ _0\"></span>gnised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and ac<span class=\"_ _0\"></span>cumulate<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y are recla<span class=\"_ _0\"></span>ssified to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss in the p<span class=\"_ _0\"></span>eriods wh<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>m affec<span class=\"_ _0\"></span>ts profit or los<span class=\"_ _0\"></span>s, in th<span class=\"_ _0\"></span>e same line a<span class=\"_ _0\"></span>s the reco<span class=\"_ _0\"></span>gnised h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item. He<span class=\"_ _0\"></span>dge acc<span class=\"_ _0\"></span>ounting is dis<span class=\"_ _0\"></span>continue<span class=\"_ _0\"></span>d if: the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s hed<span class=\"_ _0\"></span>ging obj<span class=\"_ _0\"></span>ective ha<span class=\"_ _0\"></span>s chang<span class=\"_ _0\"></span>ed (can resul<span class=\"_ _0\"></span>t in a partia<span class=\"_ _0\"></span>l discontinu<span class=\"_ _0\"></span>ance); the h<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d item or hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument no lo<span class=\"_ _0\"></span>nger exi<span class=\"_ _0\"></span>sts or is s<span class=\"_ _0\"></span>old; there is n<span class=\"_ _0\"></span>o longer an e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic relations<span class=\"_ _0\"></span>hip betwe<span class=\"_ _0\"></span>en the he<span class=\"_ _0\"></span>dged ite<span class=\"_ _0\"></span>m and the he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>; or the ef<span class=\"_ _0\"></span>fect of cre<span class=\"_ _0\"></span>dit risk st<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>s to dominate the va<span class=\"_ _0\"></span>lue chang<span class=\"_ _0\"></span>es that res<span class=\"_ _0\"></span>ult from the ec<span class=\"_ _0\"></span>onomic rel<span class=\"_ _0\"></span>ationship. Any g<span class=\"_ _0\"></span>ain or loss re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come and a<span class=\"_ _0\"></span>ccumula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y at that tim<span class=\"_ _0\"></span>e is recycle<span class=\"_ _0\"></span>d to profit or loss ove<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d the hedg<span class=\"_ _0\"></span>ed item imp<span class=\"_ _0\"></span>acts p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-703": {
   "value": "Offset<span class=\"_ _0\"></span>ting<span class=\"_ _2\"></span> financial assets and financial li<span class=\"_ _2\"></span>abilities<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities are of<span class=\"_ _0\"></span>fset and t<span class=\"_ _0\"></span>he net amo<span class=\"_ _0\"></span>unt repor<span class=\"_ _0\"></span>ted in the st<span class=\"_ _0\"></span>atement of fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition only whe<span class=\"_ _0\"></span>n there is a le<span class=\"_ _0\"></span>gally enforce<span class=\"_ _0\"></span>able right to of<span class=\"_ _0\"></span>fset the re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed amount<span class=\"_ _0\"></span>s and the<span class=\"_ _0\"></span>re is an intention to set<span class=\"_ _0\"></span>tle on a net b<span class=\"_ _0\"></span>asis, o<span class=\"_ _0\"></span>r to realise the a<span class=\"_ _0\"></span>sset an<span class=\"_ _0\"></span>d settl<span class=\"_ _0\"></span>e the liabilit<span class=\"_ _0\"></span>y simult<span class=\"_ _0\"></span>aneou<span class=\"_ _0\"></span>sly<span class=\"_ _2\"></span>. Wh<span class=\"_ _0\"></span>en financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies are off<span class=\"_ _0\"></span>set any related inte<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome and exp<span class=\"_ _0\"></span>ense is of<span class=\"_ _0\"></span>fset in the in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-628": {
   "value": "<div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs344\">E1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Fair v<span class=\"_ _0\"></span>alue an<span class=\"_ _0\"></span>alysis<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs345\">The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>ets out a c<span class=\"_ _0\"></span>ompariso<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts and fair v<span class=\"_ _0\"></span>alues of financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls10b wsb1 gs346\">20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div><div class=\"gs347\"><table class=\"s w3cf h22f\" id=\"_7d9a10f8-3246-47ca-8eac-5f5883e08804\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5bf7 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5bf8 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5bf9 ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5bfa ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5bfa ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5bfa ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bfc ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"ff2 ls1 ws1\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5bfd ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bfe wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c9 y5bfe w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ca y5bfe we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cb y5bfe w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bff we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cc y5bff w3d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cd y5bff w3d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">2,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ce y5bff wcf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c00 w3d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d1 y5b31 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d2 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c01 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d3 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>9,301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d4 y5c01 w3d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _0\"></span>,854<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d5 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">89,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c02 w3d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b3b w3d7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d7 y5b3b w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d8 y5b3b w3d8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c03 w3d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w2f8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7db y5b34 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dc y5b34 w3da h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>297<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c04 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c05 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dd y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7de y5c05 wcc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7df y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c06 w3db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5c06 w3dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">281<span class=\"_ _1\"></span>,524<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e1 y5c06 w3dd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">28<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e3 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,98<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e4 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>985<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3e0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2<span class=\"_ _2\"></span>79,5<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e6 y5a16 wf5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">279,539<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls10b wsb1 gs349\">20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div><div class=\"gs34a\"><table class=\"s w3e1 h230\" id=\"_23068ccd-d8ca-46f8-ab87-86cb0b52cbbe\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5c08 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5c09 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5c0a ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5c0b ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5c0b ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5c0b ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c0d ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c0e ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c0f we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e7 y5c0f w2b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e8 y5c0f w106 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">3,<span class=\"_ _0\"></span>443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e9 y5c0f w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c10 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c00 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c00 w3e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7eb y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c01 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ee y5b32 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ef y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c11 w3e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f2 y5b33 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f3 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c12 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c13 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f4 y5c13 w2b8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3<span class=\"_ _0\"></span>,591<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f5 y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,30<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54d y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,59<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c14 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f6 y5c14 w3e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">849<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f7 y5c14 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f8 y5c14 w12a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f9 y5c15 w3e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls81 ws14c\">184,964<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fa y5c15 w3ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">18<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,97<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fd y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3ed h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fe y5a16 w3ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7ff y5a16 w3ef h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs34b\">1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs34c\">2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude eq<span class=\"_ _0\"></span>uitie<span class=\"_ _0\"></span>s of \u00a314 mil<span class=\"_ _0\"></span>lion, d<span class=\"_ _0\"></span>ebt se<span class=\"_ _0\"></span>curi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>979 milli<span class=\"_ _0\"></span>on, co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s of \u00a39<span class=\"_ _0\"></span>60 mil<span class=\"_ _0\"></span>lion an<span class=\"_ _0\"></span>d reins<span class=\"_ _0\"></span>urers\u2019 s<span class=\"_ _0\"></span>hare of i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment co<span class=\"_ _0\"></span>ntra<span class=\"_ _0\"></span>ct </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls21 ws23 gs34d\">liabilities of \u00a332 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs34e\">3 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as finan<span class=\"_ _0\"></span>cial li<span class=\"_ _0\"></span>abili<span class=\"_ _0\"></span>ties he<span class=\"_ _0\"></span>ld for s<span class=\"_ _0\"></span>ale inc<span class=\"_ _0\"></span>lude inv<span class=\"_ _0\"></span>estm<span class=\"_ _0\"></span>ent co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>t liabi<span class=\"_ _0\"></span>litie<span class=\"_ _0\"></span>s of \u00a33,1<span class=\"_ _0\"></span>75 milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls65 wsc0 gs350\">2023<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w3f0 h231\" id=\"_c4f069a9-37a2-4895-a38f-a24c70eeb6e3\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c16 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c17 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x64a ha y5c18 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c19 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x801 ha y5c19 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y5c19 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c1b ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c1c ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c1d wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x803 y5c1d w3f1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">231<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x804 y5c1d wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x805 y5c1d w3f2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1e we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x806 y5c1e w15e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x807 y5c1e wf3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">2<span class=\"_ _0\"></span>,338<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x808 y5c1e we4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c1f w3d2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80a y5c1f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80b y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b31 w3f3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment in ass<span class=\"_ _0\"></span>ociate (se<span class=\"_ _0\"></span>e note H4.1)</div><div class=\"t m0 x80c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80d y5b31 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80e y5b31 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80f y5b31 w3f4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c20 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x810 y5c20 w3f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x811 y5c20 w3f6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79,9<span class=\"_ _0\"></span>94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x812 y5c20 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b3b w3d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5b3b w3f8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">79<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x813 y5b3b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x814 y5b3b w3f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">7<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>937<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b34 w3d9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w15e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x815 y5b34 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x816 y5b34 w3fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c21 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c22 wdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x817 y5c22 w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x818 y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5b24 w3fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x819 y5b24 w3fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b25 w3de h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2,<span class=\"_ _0\"></span>498)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81a y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2<span class=\"_ _0\"></span>,498)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3fe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81b y5a16 wf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>94<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs351\"><table class=\"s w3ff h232\" id=\"_8f44244c-11a3-4ffa-954c-cb26e30c1c72\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c23 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c24 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c25 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x64a ha y5c26 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td class=\"t m0 x802 ha y5c27 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x81d y5c28 w400 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81c h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x801 ha y5c29 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5c28 w401 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81e h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a ha y5c2a ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c2a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c2c ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c2d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c2e we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x81f y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x820 y5c2e wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">2<span class=\"_ _0\"></span>,976<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x821 y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c2f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c30 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x822 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x823 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c31 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x824 y5c31 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x825 y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c32 w402 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">1,3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x826 y5c32 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x827 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c33 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b48 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x828 y5b48 w404 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x829 y5b48 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82a y5b48 w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b49 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82b y5b49 w405 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82c y5b49 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82d y5b49 w14a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82e y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>57<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x82f y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">173<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b43 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b43 w407 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x830 y5b43 w408 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w3ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x831 y5b4c w409 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">16<span class=\"_ _0\"></span>8,875<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x832 y5b4c w21b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs352\">1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs353\">2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude der<span class=\"_ _0\"></span>ivati<span class=\"_ _0\"></span>ves of \u00a33 mi<span class=\"_ _0\"></span>llion<span class=\"_ _0\"></span>, equi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>28 milli<span class=\"_ _0\"></span>on, de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es of \u00a31<span class=\"_ _0\"></span>,411 m<span class=\"_ _0\"></span>illion<span class=\"_ _0\"></span>, coll<span class=\"_ _0\"></span>ecti<span class=\"_ _0\"></span>ve inves<span class=\"_ _0\"></span>tment s<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>mes of \u00a31<span class=\"_ _0\"></span>,02<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n and re<span class=\"_ _0\"></span>insure<span class=\"_ _0\"></span>rs\u2019 </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls21 ws23 gs354\">share of investme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ontract liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> of \u00a328 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs355\">3 <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee note A<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etai<span class=\"_ _0\"></span>ls of the pr<span class=\"_ _0\"></span>ior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls21 ws23 gs356\">4  Am<span class=\"_ _0\"></span>ounts classifie<span class=\"_ _0\"></span>d as financial liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> he<span class=\"_ _0\"></span>ld for<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ale include derivative liabilit<span class=\"_ _0\"></span>ies of<span class=\"_ _2\"></span> \u00a3<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span> millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span> an<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> inves<span class=\"_ _0\"></span>tment contrac<span class=\"_ _0\"></span>t liabilities of \u00a3<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>,780 million.<span class=\"_ _3bd\"> </span></div>E2. Fair v<span class=\"_ _2\"></span>alue hierarchy<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.1 Determ<span class=\"_ _0\"></span>inati<span class=\"_ _0\"></span>on of fair va<span class=\"_ _0\"></span>lue and f<span class=\"_ _0\"></span>air valu<span class=\"_ _0\"></span>e hiera<span class=\"_ _0\"></span>rchy of fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l inst<span class=\"_ _0\"></span>rument<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Level 1<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents tra<span class=\"_ _0\"></span>ded in ac<span class=\"_ _0\"></span>tive markets (such as e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>hange tr<span class=\"_ _0\"></span>aded se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s and derivative<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) is b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n quoted market price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end provid<span class=\"_ _0\"></span>ed by reco<span class=\"_ _0\"></span>gnised p<span class=\"_ _0\"></span>ricing ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. Market depth a<span class=\"_ _0\"></span>nd bid-as<span class=\"_ _0\"></span>k spreads a<span class=\"_ _0\"></span>re used to cor<span class=\"_ _0\"></span>roborate whe<span class=\"_ _0\"></span>ther an ac<span class=\"_ _0\"></span>tive market exis<span class=\"_ _0\"></span>ts for an ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. Greater dept<span class=\"_ _0\"></span>h and narrower b<span class=\"_ _0\"></span>id-ask spre<span class=\"_ _0\"></span>ad indic<span class=\"_ _0\"></span>ate higher liqui<span class=\"_ _0\"></span>dity in th<span class=\"_ _0\"></span>e instrum<span class=\"_ _0\"></span>ent and are cla<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 1 input<span class=\"_ _0\"></span>s. For coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes an<span class=\"_ _0\"></span>d reinsurer<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 s<span class=\"_ _0\"></span>hare of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>, fair value is by refe<span class=\"_ _0\"></span>rence to publi<span class=\"_ _0\"></span>shed bid pr<span class=\"_ _0\"></span>ices.<span class=\"_ _3bd\"> </span>Level 2<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s traded in a<span class=\"_ _0\"></span>ctive markets wi<span class=\"_ _0\"></span>th less de<span class=\"_ _0\"></span>pth, or wide<span class=\"_ _0\"></span>r bid-ask sp<span class=\"_ _0\"></span>reads<span class=\"_ _0\"></span>, which do not m<span class=\"_ _0\"></span>eet the cla<span class=\"_ _0\"></span>ssific<span class=\"_ _0\"></span>ation as Level 1 input<span class=\"_ _0\"></span>s, are<span class=\"_ gs47\"> </span>cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 2. The fair val<span class=\"_ _0\"></span>ues of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents not tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets are dete<span class=\"_ _0\"></span>rmined usin<span class=\"_ _0\"></span>g broker quotes or valu<span class=\"_ _0\"></span>ation tech<span class=\"_ _0\"></span>niques with ob<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>vable market input<span class=\"_ _0\"></span>s. Fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s valued us<span class=\"_ _0\"></span>ing broker quotes are cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as Level 2, only wh<span class=\"_ _0\"></span>ere there is a suf<span class=\"_ _0\"></span>ficient ran<span class=\"_ _0\"></span>ge of available qu<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s. The fa<span class=\"_ _0\"></span>ir value of over-the-<span class=\"_ _0\"></span>counter deri<span class=\"_ _0\"></span>vatives is es<span class=\"_ _0\"></span>timated usin<span class=\"_ _0\"></span>g pricing mo<span class=\"_ _0\"></span>dels or disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flow tech<span class=\"_ _0\"></span>niques<span class=\"_ _0\"></span>. Collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es where the un<span class=\"_ _0\"></span>derlying a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are not price<span class=\"_ _0\"></span>d using ac<span class=\"_ _0\"></span>tive market prices a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d to be Level 2 ins<span class=\"_ _0\"></span>truments a<span class=\"_ _0\"></span>nd will includ<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s which have a mate<span class=\"_ _0\"></span>rial underl<span class=\"_ _0\"></span>ying holding<span class=\"_ _0\"></span>s within real e<span class=\"_ _0\"></span>state/<span class=\"_ _2\"></span>pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty. Where pric<span class=\"_ _0\"></span>ing mod<span class=\"_ _0\"></span>els are use<span class=\"_ _0\"></span>d, input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on market related d<span class=\"_ _0\"></span>ata at the pe<span class=\"_ _0\"></span>riod end. W<span class=\"_ _0\"></span>here disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flows are<span class=\"_ gs47\"> </span>use<span class=\"_ _0\"></span>d, es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s are bas<span class=\"_ _0\"></span>ed on man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent\u2019s bes<span class=\"_ _0\"></span>t estimate<span class=\"_ _0\"></span>s and the disc<span class=\"_ _0\"></span>ount rate use<span class=\"_ _0\"></span>d is a market relate<span class=\"_ _0\"></span>d rate for<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es reflec<span class=\"_ _0\"></span>ts the fair va<span class=\"_ _0\"></span>lue of the underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities in the fun<span class=\"_ _0\"></span>ds plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exce<span class=\"_ _0\"></span>ss of future p<span class=\"_ _0\"></span>olicy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charge<span class=\"_ _0\"></span>s. The liab<span class=\"_ _0\"></span>ilities are con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>ntly determine<span class=\"_ _0\"></span>d to be Level 2 inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Level 3<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y va<span class=\"_ _0\"></span>luation tec<span class=\"_ _0\"></span>hniques usin<span class=\"_ _0\"></span>g non-ob<span class=\"_ _0\"></span>serv<span class=\"_ _0\"></span>able market input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on a combin<span class=\"_ _0\"></span>ation of<span class=\"_ gs47\"> </span>indep<span class=\"_ _0\"></span>endent third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce and intern<span class=\"_ _0\"></span>ally develope<span class=\"_ _0\"></span>d mode<span class=\"_ _0\"></span>ls. In rela<span class=\"_ _0\"></span>tion to investme<span class=\"_ _0\"></span>nts in hed<span class=\"_ _0\"></span>ge funds an<span class=\"_ _0\"></span>d private equit<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, non-<span class=\"_ _0\"></span>obser<span class=\"_ _0\"></span>vable third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce in the form of net as<span class=\"_ _0\"></span>set valua<span class=\"_ _0\"></span>tion state<span class=\"_ _0\"></span>ments is us<span class=\"_ _0\"></span>ed as the b<span class=\"_ _0\"></span>asis for the valu<span class=\"_ _0\"></span>ation. Adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts may be ma<span class=\"_ _0\"></span>de to the net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>uation where oth<span class=\"_ _0\"></span>er eviden<span class=\"_ _0\"></span>ce, for exampl<span class=\"_ _0\"></span>e recent s<span class=\"_ _0\"></span>ales of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments in the<span class=\"_ gs47\"> </span>f<span class=\"_ _0\"></span>und, indic<span class=\"_ _0\"></span>ates this is re<span class=\"_ _0\"></span>quired. Se<span class=\"_ _0\"></span>curities th<span class=\"_ _0\"></span>at are valued u<span class=\"_ _0\"></span>sing broker quotes whic<span class=\"_ _0\"></span>h could not b<span class=\"_ _0\"></span>e corrobor<span class=\"_ _0\"></span>ated acros<span class=\"_ _0\"></span>s a suf<span class=\"_ _0\"></span>ficient rang<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>of quotes are con<span class=\"_ _0\"></span>sidered a<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>eve<span class=\"_ _0\"></span>l 3. For<span class=\"_ gs47\"> </span>a small n<span class=\"_ _0\"></span>umber of invest<span class=\"_ _0\"></span>ment vehicle<span class=\"_ _0\"></span>s and debt se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, st<span class=\"_ _0\"></span>andard valu<span class=\"_ _0\"></span>ation mode<span class=\"_ _0\"></span>ls are used<span class=\"_ _0\"></span>, as due to their n<span class=\"_ _0\"></span>ature and co<span class=\"_ _0\"></span>mplexit<span class=\"_ _0\"></span>y they have no ex<span class=\"_ _0\"></span>ternal m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>. Input<span class=\"_ _0\"></span>s into such mod<span class=\"_ _0\"></span>els are bas<span class=\"_ _0\"></span>ed on obse<span class=\"_ _0\"></span>rvabl<span class=\"_ _0\"></span>e market data where p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f lo<span class=\"_ _0\"></span>ans, d<span class=\"_ _0\"></span>erivatives an<span class=\"_ _0\"></span>d som<span class=\"_ _0\"></span>e borrowing<span class=\"_ _0\"></span>s with no ex<span class=\"_ _0\"></span>ternal market is dete<span class=\"_ _0\"></span>rmined by intern<span class=\"_ _0\"></span>ally develop<span class=\"_ _0\"></span>ed disco<span class=\"_ _0\"></span>unted cas<span class=\"_ _0\"></span>h flow model<span class=\"_ _0\"></span>s using approp<span class=\"_ _0\"></span>riate assum<span class=\"_ _0\"></span>ptions corro<span class=\"_ _0\"></span>borated wi<span class=\"_ _0\"></span>th extern<span class=\"_ _0\"></span>al market data whe<span class=\"_ _0\"></span>re possib<span class=\"_ _0\"></span>le.<span class=\"_ _3bd\"> </span>For finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments th<span class=\"_ _0\"></span>at are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t fair value on a re<span class=\"_ _0\"></span>curring bas<span class=\"_ _0\"></span>is, the G<span class=\"_ _0\"></span>roup determine<span class=\"_ _0\"></span>s whether t<span class=\"_ _0\"></span>ransfer<span class=\"_ _0\"></span>s have occurre<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween levels in th<span class=\"_ _0\"></span>e hierarchy by rea<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing cate<span class=\"_ _0\"></span>gorisa<span class=\"_ _0\"></span>tion (base<span class=\"_ _0\"></span>d on the lowes<span class=\"_ _0\"></span>t level input th<span class=\"_ _0\"></span>at is signific<span class=\"_ _0\"></span>ant to the fair valu<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment as a who<span class=\"_ _0\"></span>le<span class=\"_ _2\"></span>) during e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>eriod.<span class=\"_ _3bd\"> </span>Fair value hi<span class=\"_ _0\"></span>erarchy informatio<span class=\"_ _0\"></span>n for non-fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value is incl<span class=\"_ _0\"></span>uded in note G3 for own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y and in note G<span class=\"_ _0\"></span>4 for investm<span class=\"_ _0\"></span>ent prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. E2<span class=\"_ _0\"></span>.2 Fai<span class=\"_ _0\"></span>r value hie<span class=\"_ _0\"></span>rarc<span class=\"_ _0\"></span>hy of finan<span class=\"_ _0\"></span>cial in<span class=\"_ _0\"></span>strum<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>ables be<span class=\"_ _0\"></span>low separa<span class=\"_ _0\"></span>tely identif<span class=\"_ _0\"></span>y financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments c<span class=\"_ _0\"></span>arried at fair va<span class=\"_ _0\"></span>lue from thos<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>d on anothe<span class=\"_ _0\"></span>r basis but for w<span class=\"_ _0\"></span>hich fair value<span class=\"_ gs47\"> </span>is d<span class=\"_ _0\"></span>isclose<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w418 h234\" id=\"_fc2ac4d2-43a2-468d-8dbd-a69af0e85559\"><tr><td></td><td class=\"t m0 x59b h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x83c h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x83d h29 y5c3e ff3 fs5 fc3 sc0 ls65 wsc0\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x57d h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c40 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c41 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets at F<span class=\"_ _0\"></span>VTPL (ma<span class=\"_ _0\"></span>ndator<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c42 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83e y5c42 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83f y5c42 w39f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x840 y5c42 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x841 y5c42 wca h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c43 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x842 y5c43 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x843 y5c43 w419 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x844 y5c43 w41a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x845 y5c43 w41b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c44 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x846 y5c44 w41c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">9<span class=\"_ _0\"></span>3,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x847 y5c44 wd7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x848 y5c44 w41d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">2,<span class=\"_ _0\"></span>576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x849 y5c44 w5e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">9<span class=\"_ _0\"></span>6,365<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c45 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84a y5c45 w86 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">49<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>624<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84b y5c45 w1eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>531<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84c y5c45 w41e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84d y5c45 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">89,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c46 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84e y5c46 w55 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">79<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84f y5c46 w41f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3,29<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x850 y5c46 w266 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x851 y5c46 w3d7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c47 wf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x852 y5c47 w420 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x853 y5c47 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x854 y5c47 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x855 y5c47 w2f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 w421 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x856 y5c48 w3ac h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">232<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x857 y5c48 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">3<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>474<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x23f y5c48 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x858 y5c48 w423 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">281<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>512<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c13 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85a y5afa w425 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85b y5afa w2e3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(1<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85c y5afa w426 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(555<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85d y5afa w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>985)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 w427 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value, exclu<span class=\"_ _0\"></span>ding amount<span class=\"_ _0\"></span>s class<span class=\"_ _0\"></span>ified as he<span class=\"_ _0\"></span>ld for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85e y5c49 w428 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>381<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85f y5c49 w429 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">3<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x860 y5c49 w42a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">17,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x861 y5c49 w42b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>527<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c4a ff3 fs6 fc3 sc0 ls1 ws1\">Fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at am<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>sed co<span class=\"_ _0\"></span>st for whic<span class=\"_ _0\"></span>h fair value<span class=\"_ _0\"></span>s are disc<span class=\"_ _0\"></span>losed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c4b wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x862 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x863 y5c4b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x864 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x865 y5c4b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x866 y5a16 w42c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>38<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x867 y5a16 w42d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">30<span class=\"_ _0\"></span>,339<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x868 y5a16 w42e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x869 y5a16 wf5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">279,539<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Amo<span class=\"_ _0\"></span>unts cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a314 m<span class=\"_ _0\"></span>illion of e<span class=\"_ _0\"></span>quiti<span class=\"_ _0\"></span>es (Lev<span class=\"_ _0\"></span>el 1), \u00a33<span class=\"_ _0\"></span>2 millio<span class=\"_ _0\"></span>n of reins<span class=\"_ _0\"></span>urer<span class=\"_ _0\"></span>s\u2019 share o<span class=\"_ _0\"></span>f invest<span class=\"_ _0\"></span>ment c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>ct lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es (Leve<span class=\"_ _0\"></span>l 1), \u00a39<span class=\"_ _0\"></span>60 m<span class=\"_ _0\"></span>illion of c<span class=\"_ _0\"></span>olle<span class=\"_ _0\"></span>ctive i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>es (\u00a3<span class=\"_ _0\"></span>956 m<span class=\"_ _0\"></span>illion L<span class=\"_ _0\"></span>evel 1 an<span class=\"_ _0\"></span>d \u00a3<span class=\"_ _2\"></span>4 m<span class=\"_ _0\"></span>illion Le<span class=\"_ _0\"></span>vel 2) an<span class=\"_ _0\"></span>d \u00a3979 mi<span class=\"_ _0\"></span>llion of de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es (\u00a3<span class=\"_ _0\"></span>281 mil<span class=\"_ _0\"></span>lion Leve<span class=\"_ _0\"></span>l 1; \u00a314<span class=\"_ _0\"></span>3 milli<span class=\"_ _0\"></span>on Level 2<span class=\"_ _0\"></span>; and \u00a35<span class=\"_ _0\"></span>55 mill<span class=\"_ _0\"></span>ion Leve<span class=\"_ _0\"></span>l 3)<span class=\"_ _3bd\"> <span class=\"_ _3bd\"> <span class=\"_ _3bd\"> </span></span></span><table class=\"s w42f h235\" id=\"_9d8be71c-9025-4f6e-b115-8f4488a02b6f\"><tr><td></td><td class=\"t m0 x495 h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86a h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86c h29 y5c4c ff3 fs5 fc3 sc0 ls65 wsc0\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5c4d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5c4e ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5c4f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL (mandato<span class=\"_ _0\"></span>ry)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c50 we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86d y5c50 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86e y5c50 w16b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">3,882<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86f y5c50 w179 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x870 y5c50 w355 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5c51 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial<span class=\"_ gs47\"> </span>reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c52 w142 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x871 y5c52 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x872 y5c52 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x873 y5c52 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x874 y5c52 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c53 w430 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x875 y5c53 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x876 y5c53 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x877 y5c53 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x878 y5c53 w431 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,<span class=\"_ _0\"></span>486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c54 w432 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x879 y5c54 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87a y5c54 w3e6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87b y5c54 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87c y5c54 w433 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x87d y5c55 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87e y5c55 w434 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>92<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87f y5c55 w267 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x880 y5c55 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">176<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c56 w435 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x881 y5c56 w436 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">2<span class=\"_ _0\"></span>,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x882 y5c56 w437 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x883 y5c56 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">164<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x884 y5c56 w438 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">180,52<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c57 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x885 y5c57 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x886 y5c57 w43a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x887 y5c57 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x888 y5c57 w3ec h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c58 w43b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e, excluding am<span class=\"_ _0\"></span>ounts cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x889 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88a y5a27 w16b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88b y5a27 w43c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">174<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88c y5a27 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88d y5a27 w162 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5c59 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at amortised cost for which fai<span class=\"_ _2\"></span>r values are disclosed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c5a w142 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88e y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88f y5c5a w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,<span class=\"_ _0\"></span>599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x890 y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x891 y5c5a w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,59<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c5b w149 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x892 y5c5b we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x893 y5c5b w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x894 y5c5b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x895 y5c5b w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a8f w43d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost for wh<span class=\"_ _0\"></span>ich fair value<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x896 y5a8f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x897 y5a8f w144 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,4<span class=\"_ _0\"></span>48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x898 y5a8f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d2 y5a8f w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,<span class=\"_ _0\"></span>448<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x88a y5a16 w16b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x899 y5a16 w434 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x89a y5a16 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x89b y5a16 wa3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Amo<span class=\"_ _0\"></span>unts cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a33<span class=\"_ _0\"></span>,175 mill<span class=\"_ _0\"></span>ion of inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nt cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabil<span class=\"_ _0\"></span>ities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w43e h236\" id=\"_28733018-a838-4c80-9471-398bfeb0df1c\"><tr><td></td><td class=\"t m0 x89c ha y5c5c ff2 fs5 fc3 sc0 ls14a ws138\">Level 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x89d ha y5c5c ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td class=\"c x89f y5c5d w43f h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x89e h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x8a1 y5c5d w440 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x8a0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x737 ha y5c5e ff2 fs5 fc3 sc0 ls14a ws138\">Level 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x8a2 ha y5c5e ff2 fs5 fc3 sc0 ls11 ws11\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5c5f ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c60 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c61 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets at F<span class=\"_ _0\"></span>VTPL (ma<span class=\"_ _0\"></span>ndator<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a66 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83e y5a66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a3 y5a66 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a4 y5a66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a5 y5a66 w441 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">231<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c62 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x842 y5c62 w103 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">139<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a6 y5c62 w442 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">2<span class=\"_ _0\"></span>,398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a7 y5c62 w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a8 y5c62 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c63 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x846 y5c63 we6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">85,0<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a9 y5c63 wd2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">132<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8aa y5c63 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ab y5c63 we7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _1\"></span>7,<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bf2 we8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment in ass<span class=\"_ _0\"></span>ociate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ac y5bf2 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ad y5bf2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ae y5bf2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x566 y5bf2 w12b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">3<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5bf3 w443 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 x8af h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b0 y5bf3 w444 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b1 y5bf3 w445 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b2 y5bf3 w446 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">13<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b3 y5bf3 w2e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _1\"></span>4,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c64 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84e y5c64 w447 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">76<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b4 y5c64 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,1<span class=\"_ _0\"></span>93<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b5 y5c64 w334 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">4<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b6 y5c64 w3f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">79<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c65 wf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b7 y5c65 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b8 y5c65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b9 y5c65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ba y5c65 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w448 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bb y5bd8 w449 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">223,<span class=\"_ _0\"></span>558<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bc y5bd8 w44a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34,923<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bd y5bd8 w44b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>,94<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8be y5bd8 w44c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">275<span class=\"_ _0\"></span>,427<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5bd9 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85a y5bd9 w328 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,639)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bf y5bd9 w44d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(1<span class=\"_ _0\"></span>81)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c0 y5bd9 w30e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(678)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c1 y5bd9 w3fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>2,498)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w427 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value, exclu<span class=\"_ _0\"></span>ding amount<span class=\"_ _0\"></span>s class<span class=\"_ _0\"></span>ified as he<span class=\"_ _0\"></span>ld for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85e y5c66 w44e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c2 y5c66 w44f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c3 y5c66 w450 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">16<span class=\"_ _0\"></span>,268<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c4 y5c66 w451 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c67 ff3 fs6 fc3 sc0 ls1 ws1\">Fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at am<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>sed co<span class=\"_ _0\"></span>st for whic<span class=\"_ _0\"></span>h fair value<span class=\"_ _0\"></span>s are disc<span class=\"_ _0\"></span>losed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b25 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x862 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c5 y5b25 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c6 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c7 y5b25 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8c8 y5a16 w44e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">221<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>91<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c9 y5a16 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ca y5a16 w2e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">16<span class=\"_ _0\"></span>,26<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cb y5a16 wf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>L<span class=\"_ _0\"></span>evel 1 an<span class=\"_ _0\"></span>d Level 2 de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es have b<span class=\"_ _0\"></span>een re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d to cor<span class=\"_ _0\"></span>rect<span class=\"_ _0\"></span>ly refle<span class=\"_ _0\"></span>ct \u00a36<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>69 mil<span class=\"_ _0\"></span>lion of de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es with<span class=\"_ _0\"></span>in Level 1 in<span class=\"_ _0\"></span>stea<span class=\"_ _0\"></span>d of Level 2 a<span class=\"_ _0\"></span>s previ<span class=\"_ _0\"></span>ousl<span class=\"_ _0\"></span>y repor<span class=\"_ _0\"></span>ted<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>udes \u00a3<span class=\"_ _0\"></span>28 milli<span class=\"_ _0\"></span>on of equ<span class=\"_ _0\"></span>ities (<span class=\"_ _0\"></span>Level 1)<span class=\"_ _0\"></span>, \u00a33 milli<span class=\"_ _0\"></span>on of der<span class=\"_ _0\"></span>ivativ<span class=\"_ _0\"></span>es (Leve<span class=\"_ _0\"></span>l 2), \u00a32<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n of reins<span class=\"_ _0\"></span>urers<span class=\"_ _0\"></span>\u2019 share of i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>ct liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s (Leve<span class=\"_ _0\"></span>l 1), \u00a31<span class=\"_ _0\"></span>,028 m<span class=\"_ _0\"></span>illion of<span class=\"_ gs1f7\"> </span>co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nt sch<span class=\"_ _0\"></span>emes (<span class=\"_ _0\"></span>\u00a39<span class=\"_ _0\"></span>96 mi<span class=\"_ _0\"></span>llion Lev<span class=\"_ _0\"></span>el 1; \u00a32<span class=\"_ _0\"></span>8 milli<span class=\"_ _0\"></span>on Level 2<span class=\"_ _0\"></span>; and \u00a34 milli<span class=\"_ _0\"></span>on Level 3<span class=\"_ _0\"></span>) and \u00a3<span class=\"_ _0\"></span>1,41<span class=\"_ _0\"></span>1 millio<span class=\"_ _0\"></span>n of debt s<span class=\"_ _0\"></span>ecur<span class=\"_ _0\"></span>ities (<span class=\"_ _0\"></span>\u00a3587 m<span class=\"_ _0\"></span>illion Le<span class=\"_ _0\"></span>vel 1; \u00a3<span class=\"_ _0\"></span>150 mi<span class=\"_ _0\"></span>llion Lev<span class=\"_ _0\"></span>el 2; an<span class=\"_ _0\"></span>d \u00a3674 millio<span class=\"_ _0\"></span>n Level 3<span class=\"_ _0\"></span>).<span class=\"_ _3bd\"> </span><table class=\"s w452 h237\" id=\"_fd1ba1e1-d03b-4bf0-af07-208b6aea1322\"><tr><td></td><td></td><td class=\"t m0 x89d ha y5c68 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x8a2 ha y5c68 ff2 fs5 fc3 sc0 ls11 ws11\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x89c ha y5c69 ff2 fs5 fc3 sc0 ls14a ws138\">Level 1<span class=\"_ _3bd\"> </span></td><td class=\"c x8a1 y5c6a w440 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x8a0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x737 ha y5c69 ff2 fs5 fc3 sc0 ls14a ws138\">Level 3<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5c6a w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a ha y5c6b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c6c ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c6d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s FV<span class=\"_ _0\"></span>TPL (mandator<span class=\"_ _0\"></span>y)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c6e we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cc y5c6e w47 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">152<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cd y5c6e w453 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,9<span class=\"_ _0\"></span>86<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ce y5c6e w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cf y5c6e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>344<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c6f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial<span class=\"_ gs47\"> </span>reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c70 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d0 y5c70 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d1 y5c70 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d2 y5c70 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d3 y5c70 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c71 w430 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d4 y5c71 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d5 y5c71 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d6 y5c71 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d7 y5c71 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c72 w454 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es (restate<span class=\"_ _0\"></span>d)</div><div class=\"t m0 x8d8 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x43d y5b54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d9 y5b54 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8da y5b54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2da y5b54 w455 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8db y5bf3 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8dc y5bf3 w455 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8dd y5bf3 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8de y5bf3 w456 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">16<span class=\"_ _0\"></span>5,4<span class=\"_ _0\"></span>61<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf4 w435 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8df y5bf4 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,07<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e0 y5bf4 w457 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">165,48<span class=\"_ _2\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e1 y5bf4 w458 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e2 y5bf4 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">168,<span class=\"_ _0\"></span>805<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c73 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x43d y5c73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e3 y5c73 w459 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d0 y5c73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e4 y5c73 w459 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c74 w45a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e, excluding am<span class=\"_ _0\"></span>ounts cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e5 y5c74 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>073<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e6 y5c74 w45b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">1<span class=\"_ _2\"></span>6<span class=\"_ _0\"></span>0,699<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e7 y5c74 w45c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e8 y5c74 w45d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>64,<span class=\"_ _0\"></span>023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c75 ff3 fs6 fc3 sc0 ls37 ws1\">Fina<span class=\"_ _0\"></span>ncial li<span class=\"_ _0\"></span>abilities m<span class=\"_ _0\"></span>easur<span class=\"_ _0\"></span>ed at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cost fo<span class=\"_ _0\"></span>r which fair va<span class=\"_ _0\"></span>lues are di<span class=\"_ _0\"></span>sclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a45 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d0 y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e9 y5a45 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ea y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8eb y5a45 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,73<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a46 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ec y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ed y5a46 w45e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ee y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ef y5a46 w45f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w43d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost for wh<span class=\"_ _0\"></span>ich fair value<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f0 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f1 y5a47 w460 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">4<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f2 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f3 y5a47 w461 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">4<span class=\"_ _0\"></span>,74<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8db y5a16 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,07<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f4 y5a16 w462 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">165,443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f5 y5a16 w45c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f6 y5a16 w463 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>udes \u00a34<span class=\"_ _0\"></span>,780 mi<span class=\"_ _0\"></span>llion of in<span class=\"_ _0\"></span>vestm<span class=\"_ _0\"></span>ent co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>t liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s and \u00a32 m<span class=\"_ _0\"></span>illion o<span class=\"_ _0\"></span>f deriv<span class=\"_ _0\"></span>atives<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>ignifi<span class=\"_ _0\"></span>cant in<span class=\"_ _0\"></span>puts an<span class=\"_ _0\"></span>d input va<span class=\"_ _0\"></span>lues for L<span class=\"_ _0\"></span>evel 3 finan<span class=\"_ _0\"></span>cial in<span class=\"_ _0\"></span>stru<span class=\"_ _0\"></span>ments<span class=\"_ _3bd\"> </span><table class=\"s w464 h238\" id=\"_7465f847-a60c-4d6f-9d7c-39751859ec23\"><tr><td></td><td></td><td></td><td class=\"t m0 x2f6 ha y5c76 ff2 fs5 fc3 sc0 ls11 ws11\">Key<span class=\"_ _2\"></span> unobse<span class=\"_ _0\"></span>rvable input<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c77 w21e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Desc<span class=\"_ _0\"></span>ription<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f7 y5c77 w465 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">V<span class=\"_ _2\"></span>aluation technique<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f8 y5c77 w466 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">Significant inputs<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x8f9 y5c77 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fa y5c77 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c78 w469 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fb y5c78 w46a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fc y5c78 w46b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Net a<span class=\"_ _0\"></span>sset s<span class=\"_ _0\"></span>tatement<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x8fd y5c78 w46c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">\u00a32,<span class=\"_ _0\"></span>576m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fe y5c78 w46d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">\u00a3<span class=\"_ _0\"></span>2,495m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5c79 ff3 fs6 fc3 sc0 ls1 ws1\">Deb<span class=\"_ _0\"></span>t secur<span class=\"_ _0\"></span>ities (see E2<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 fo<span class=\"_ _0\"></span>r furth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5c7a ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit  </td><td class=\"c x900 y5c7b w46e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x8ff h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c7b w46f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x902 y5c7b w470 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">79<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x2f8 hc y5c7c ff2 fs6 fc3 sc0 ls74 ws1e5\">78b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5c7d ff2 fs6 fc3 sc0 ls11 ws11\">agencies &amp;<span class=\"_ _2\"></span> supranati<span class=\"_ _2\"></span>onals<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x903 h23 y5c7e ff3 fs6 fc3 sc0 ls37 ws1\">(weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c7e ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c7f w471 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Private corporate credit<span class=\"_ _3bd\"> </span></div></td><td class=\"c x905 y5c7f w472 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DCF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x904 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c7f w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c7f w473 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">134b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c80 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">145b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c81 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c81 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c82 w2b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90a y5c82 w474 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x909 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c83 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c83 w475 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">146<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c84 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>0b<span class=\"_ _0\"></span>ps</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c85 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c85 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c86 w476 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90c y5c86 w477 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F mode<span class=\"_ _0\"></span>l</div><div class=\"t m0 x90b h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c86 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c86 w475 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">140<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c87 ff2 fs6 fc3 sc0 ls8e ws87\">139<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c88 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c88 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c89 w478 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90e y5c89 w479 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mode<span class=\"_ _0\"></span>l</div><div class=\"t m0 x90d h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c89 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c89 w47a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">118<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c8a ff2 fs6 fc3 sc0 ls6c ws1ca\">130b<span class=\"_ _0\"></span>ps</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c8b ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c8b ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c8c w47b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Mor<span class=\"_ _0\"></span>tgage l<span class=\"_ _0\"></span>oans (\u2018<span class=\"_ _0\"></span>ERM<span class=\"_ _0\"></span>\u2019)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x90f y5c8c w47c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mode<span class=\"_ _0\"></span>l and<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x910 y5c8c w47d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Spread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x911 y5c8c w47e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">15<span class=\"_ _2\"></span>9<span class=\"_ _0\"></span>bps over Son<span class=\"_ _0\"></span>ia plus</div></td><td class=\"t m0 x912 hc y5c8d ff2 fs6 fc3 sc0 ls17f ws1\">2<span class=\"_ _2\"></span>56bps over S<span class=\"_ _0\"></span>onia plus </td></tr><tr><td></td><td class=\"t m0 x2dc hc y5c8e ff2 fs6 fc3 sc0 ls1 ws1\">Black-<span class=\"_ _2\"></span>S<span class=\"_ _0\"></span>choles </td><td></td><td></td><td class=\"t m0 x913 h23 y5c8f ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x914 hc y5c8f ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x915 y5c90 w47f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">model</div><div class=\"t m0 x8a0 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x48f hc y5c91 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ice </td><td></td><td class=\"t m0 x916 h23 y5c91 ff3 fs6 fc3 sc0 ls37 ws1\">+<span class=\"_ _3\"></span>75bps ad<span class=\"_ _0\"></span>just<span class=\"_ _0\"></span>ment to </td><td class=\"t m0 x917 hc y5c91 ff2 fs6 fc3 sc0 ls17f ws1\">+<span class=\"_ _3\"></span>75bps adju<span class=\"_ _0\"></span>stment to R<span class=\"_ _0\"></span>PI<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x918 hc y5c92 ff2 fs6 fc3 sc0 ls56 ws53\">inflation<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x919 h23 y5c92 ff3 fs6 fc3 sc0 ls1 ws1\">RPI<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"c n x91a y5c93 w480 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ices<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x91b y5c93 w481 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">\u00a338<span class=\"_ _2\"></span>5,838 (<span class=\"_ _2\"></span>aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x91c y5c93 w482 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5e ws14c\">\u00a337<span class=\"_ _4\"></span>1<span class=\"_ _0\"></span>,3<span class=\"_ _2\"></span>80 (aver<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x91d hc y5c94 ff2 fs6 fc3 sc0 lsc6 ws15a\">res<span class=\"_ _0\"></span>tated<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"c n x91e y5c95 w483 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">Mor<span class=\"_ _0\"></span>tality<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x91f y5c95 w484 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">Avera<span class=\"_ _0\"></span>ge life expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy</div></td><td class=\"t m0 x920 hc y5c96 ff2 fs6 fc3 sc0 ls17f ws1\">Averag<span class=\"_ _0\"></span>e life expec<span class=\"_ _0\"></span>tancy<span class=\"_ _0\"></span> </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x606 h23 y5c97 ff3 fs6 fc3 sc0 ls37 ws1\">of a mal<span class=\"_ _0\"></span>e and fema<span class=\"_ _0\"></span>le </td><td class=\"t m0 x86b hc y5c98 ff2 fs6 fc3 sc0 ls17f ws1\">of a male an<span class=\"_ _0\"></span>d female </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x921 h23 y5c99 ff3 fs6 fc3 sc0 ls37 ws1b\">curr<span class=\"_ _0\"></span>ently ag<span class=\"_ _0\"></span>ed 7<span class=\"_ _2\"></span>5 is 14.<span class=\"_ _2\"></span>2 </td><td class=\"t m0 x3be hc y5c9a ff2 fs6 fc3 sc0 ls17f ws1\">current<span class=\"_ _0\"></span>ly age<span class=\"_ _0\"></span>d 7<span class=\"_ _4\"></span>5 i<span class=\"_ _0\"></span>s 1<span class=\"_ _2\"></span>4.<span class=\"_ _2\"></span>1 </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x606 h23 y5c9b ff3 fs6 fc3 sc0 ls37 ws1\">year<span class=\"_ _0\"></span>s and 15<span class=\"_ _2\"></span>.8 year<span class=\"_ _0\"></span>s </td><td class=\"t m0 x86b hc y5c9c ff2 fs6 fc3 sc0 ls17f ws1\">year<span class=\"_ _0\"></span>s and 15<span class=\"_ _2\"></span>.6 years </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x491 h23 y5c9d ff3 fs6 fc3 sc0 lsd wsd\">respectively<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x922 hc y5c9e ff2 fs6 fc3 sc0 ls56 ws53\">respe<span class=\"_ _0\"></span>ctively<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x923 hc y5c9f ff2 fs6 fc3 sc0 ls17f ws192\">V<span class=\"_ _2\"></span>olunt<span class=\"_ _0\"></span>ary </td><td></td><td class=\"c n x924 y5ca0 w485 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws13\">190bps t<span class=\"_ _2\"></span>o 400bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x925 y5ca0 w486 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">190b<span class=\"_ _0\"></span>ps to 6<span class=\"_ _2\"></span>50<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x2f4 hc y5ca1 ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ca2 w487 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x927 y5ca2 w488 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DCF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x926 h11 y5ca3 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x928 y5ca4 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x929 y5ca4 w489 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">230<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x914 hc y5ca5 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>3b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5ca6 ff3 fs6 fc3 sc0 ls1 ws1\">(weighte<span class=\"_ _0\"></span>d averag<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b1 hc y5ca6 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y5ca7 w48a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips</div><div class=\"t m0 x92a h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92b y5ca7 w48b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Income capit<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span>is<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>ion<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92c y5ca7 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x92d y5ca7 w48c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">6<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92e y5ca7 w48d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">613b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ca8 w48e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Collecti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92f y5ca8 w48f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Net asset value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x930 y5ca8 w490 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">N<span class=\"_ _0\"></span>et ass<span class=\"_ _0\"></span>et statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x931 y5ca8 w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">\u00a3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>87m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x932 y5ca8 w492 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">\u00a34<span class=\"_ _0\"></span>01<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5ca9 ff3 fs6 fc3 sc0 ls10 ws10\">Borro<span class=\"_ _2\"></span>wings<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5caa w493 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y reversion<span class=\"_ _0\"></span>s loans (see n<span class=\"_ _0\"></span>ote E5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x933 y5caa w494 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Internally developed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x934 y5caa w495 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y rate<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x3b1 hc y5cab ff2 fs6 fc3 sc0 lsb5 ws1ca\">130<span class=\"_ _0\"></span>% I<span class=\"_ _0\"></span>FL9<span class=\"_ _0\"></span>2C15 </td><td class=\"c n x935 y5caa w496 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1b\">130% IFL92<span class=\"_ _2\"></span>C1<span class=\"_ _2\"></span>5<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x936 hc y5cac ff2 fs6 fc3 sc0 ls13 ws14\">model<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x938 y5cad w497 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(Fe<span class=\"_ _0\"></span>mal<span class=\"_ _0\"></span>e)</div><div class=\"t m0 x937 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c x93a y5caf w498 h239\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(Fe<span class=\"_ _0\"></span>ma<span class=\"_ _0\"></span>le)</div><div class=\"t m0 x939 h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x2ee hc y5cb0 ff2 fs6 fc3 sc0 lsb5 ws1ca\">130<span class=\"_ _0\"></span>% I<span class=\"_ _0\"></span>ML<span class=\"_ _0\"></span>92C15 </td><td class=\"t m0 x3bc h23 y5cb0 ff3 fs6 fc3 sc0 ls1 ws1b\">130% IML92<span class=\"_ _2\"></span>C1<span class=\"_ _2\"></span>5 </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"c x93c y5cb1 w499 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(M<span class=\"_ _0\"></span>ale)</div><div class=\"t m0 x93b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c x93e y5cb2 w49a h239\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(M<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span>e)</div><div class=\"t m0 x93d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x48f hc y5cb3 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ice </td><td class=\"t m0 x3aa hc y5cb3 ff2 fs6 fc3 sc0 ls17f ws1\">3-year R<span class=\"_ _0\"></span>PI rate plus </td><td class=\"t m0 x903 h23 y5cb3 ff3 fs6 fc3 sc0 ls37 ws1\">3-year R<span class=\"_ _0\"></span>PI rate pl<span class=\"_ _0\"></span>us </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x918 hc y5cb4 ff2 fs6 fc3 sc0 ls56 ws53\">inflation<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 hc y5cb4 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">75b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 h23 y5cb4 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"c n x934 y5cb5 w49b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Dis<span class=\"_ _0\"></span>count rate<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x93f hc y5cb6 ff2 fs6 fc3 sc0 ls17f ws1\">3-year swa<span class=\"_ _0\"></span>p rate plus<span class=\"_ _3bd\"> </span></td><td class=\"c n x940 y5cb5 w49c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">3-year s<span class=\"_ _0\"></span>wap rate pl<span class=\"_ _0\"></span>us</div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x941 hc y5cb7 ff2 fs6 fc3 sc0 ls1bb ws1ec\"> 17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bd h23 y5cb7 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x942 hc y5cb8 ff2 fs6 fc3 sc0 ls17f ws20c\">Deferre<span class=\"_ _0\"></span>d pos<span class=\"_ _0\"></span>sessi<span class=\"_ _0\"></span>on </td><td class=\"c n x943 y5cb9 w49d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">370<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y5cb9 w49e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3a9 hc y5cba ff2 fs6 fc3 sc0 lsc6 ws15a\">rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c h23 y5cbb ff3 fs6 fc3 sc0 ls1a ws1b\">Derivative ass<span class=\"_ _0\"></span>ets and liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5cbc ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward private pla<span class=\"_ _0\"></span>cement<span class=\"_ _0\"></span>s, infra<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>ture </td><td class=\"c x946 y5c39 w49f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x945 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c39 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5cbd ff2 fs6 fc3 sc0 ls15c ws1ee\">111b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></td><td class=\"c n x902 y5c39 w4a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">98b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c x28d y5cbf w4a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>lo<span class=\"_ _0\"></span>cal auth<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y loans</div><div class=\"t m0 x947 h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"t m0 x3aa hc y5cc0 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x903 h23 y5cc0 ff3 fs6 fc3 sc0 ls37 ws1\">(weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"c x28d y5a15 w4a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swaps</div><div class=\"t m0 x948 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c x946 y5a15 w49f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x945 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x949 y5a15 w4a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Swap c<span class=\"_ _0\"></span>urve<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94a y5a15 w4a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">s<span class=\"_ _0\"></span>wap cur<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94b y5a15 w4a5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws14c\">swa<span class=\"_ _0\"></span>p cur<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c x28d y5a16 w4a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total ret<span class=\"_ _0\"></span>urn swap</div><div class=\"t m0 x94c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c x900 y5a16 w46e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x8ff h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5a16 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94d y5a16 w4a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">500b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94e y5a16 w4a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">500<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td></td></tr></table>1 <span class=\"_ _7\"> </span><span class=\"ws1\">Di<span class=\"_ _0\"></span>scou<span class=\"_ _0\"></span>nted ca<span class=\"_ _0\"></span>sh flow (<span class=\"_ _0\"></span>\u2018D<span class=\"_ _0\"></span>CF\u2019<span class=\"_ _0\"></span>) mode<span class=\"_ _0\"></span>l: Exc<span class=\"_ _0\"></span>ept wh<span class=\"_ _0\"></span>ere oth<span class=\"_ _0\"></span>erw<span class=\"_ _0\"></span>ise st<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, the dis<span class=\"_ _0\"></span>coun<span class=\"_ _0\"></span>t rate us<span class=\"_ _0\"></span>ed is ba<span class=\"_ _0\"></span>sed on a r<span class=\"_ _0\"></span>isk-fre<span class=\"_ _0\"></span>e cur<span class=\"_ _0\"></span>ve and a cr<span class=\"_ _0\"></span>edit sp<span class=\"_ _0\"></span>read<span class=\"_ _0\"></span>. The ri<span class=\"_ _0\"></span>sk-free r<span class=\"_ _0\"></span>ate is ta<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n from an a<span class=\"_ _0\"></span>pprop<span class=\"_ _0\"></span>riate g<span class=\"_ _0\"></span>ilt of </span>com<span class=\"_ _0\"></span>para<span class=\"_ _0\"></span>ble dur<span class=\"_ _0\"></span>ation<span class=\"_ _0\"></span>. The s<span class=\"_ _0\"></span>pread i<span class=\"_ _0\"></span>s deri<span class=\"_ _0\"></span>ved from a b<span class=\"_ _0\"></span>asket of c<span class=\"_ _0\"></span>ompa<span class=\"_ _0\"></span>rable s<span class=\"_ _0\"></span>ecu<span class=\"_ _0\"></span>ritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _145\"> </span><span class=\"ws1\">E<span class=\"_ _0\"></span>RM loa<span class=\"_ _0\"></span>ns: Th<span class=\"_ _0\"></span>e loan<span class=\"_ _0\"></span>s are val<span class=\"_ _0\"></span>ued us<span class=\"_ _0\"></span>ing a DC<span class=\"_ _0\"></span>F mode<span class=\"_ _0\"></span>l and a Bl<span class=\"_ _0\"></span>ack-Sc<span class=\"_ _0\"></span>hole<span class=\"_ _0\"></span>s mode<span class=\"_ _0\"></span>l for val<span class=\"_ _0\"></span>uatio<span class=\"_ _0\"></span>n of the No<span class=\"_ _0\"></span>-Ne<span class=\"_ _0\"></span>gati<span class=\"_ _0\"></span>ve Equit<span class=\"_ _0\"></span>y Gua<span class=\"_ _0\"></span>rante<span class=\"_ _0\"></span>e (\u2018N<span class=\"_ _0\"></span>NEG<span class=\"_ _0\"></span>\u2019). Th<span class=\"_ _0\"></span>e NNEG c<span class=\"_ _0\"></span>aps th<span class=\"_ _0\"></span>e loan re<span class=\"_ _0\"></span>payme<span class=\"_ _0\"></span>nt in the e<span class=\"_ _0\"></span>vent of de<span class=\"_ _0\"></span>ath or </span>ent<span class=\"_ _0\"></span>ry into l<span class=\"_ _0\"></span>ong-<span class=\"_ _0\"></span>term c<span class=\"_ _0\"></span>are to be n<span class=\"_ _0\"></span>o great<span class=\"_ _0\"></span>er than t<span class=\"_ _0\"></span>he sal<span class=\"_ _0\"></span>es pro<span class=\"_ _0\"></span>cee<span class=\"_ _0\"></span>ds from th<span class=\"_ _0\"></span>e prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. The f<span class=\"_ _0\"></span>uture c<span class=\"_ _0\"></span>ash flo<span class=\"_ _0\"></span>ws are es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>ted ba<span class=\"_ _0\"></span>sed on a<span class=\"_ _0\"></span>ssum<span class=\"_ _0\"></span>ed leve<span class=\"_ _0\"></span>ls of mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lity d<span class=\"_ _0\"></span>erive<span class=\"_ _0\"></span>d from pu<span class=\"_ _0\"></span>blish<span class=\"_ _0\"></span>ed mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lity t<span class=\"_ _0\"></span>able<span class=\"_ _0\"></span>s, ent<span class=\"_ _0\"></span>ry into l<span class=\"_ _0\"></span>ong-<span class=\"_ _0\"></span>term c<span class=\"_ _0\"></span>are rate<span class=\"_ _0\"></span>s and vol<span class=\"_ _0\"></span>untar<span class=\"_ _0\"></span>y red<span class=\"_ _0\"></span>empti<span class=\"_ _0\"></span>on rate<span class=\"_ _0\"></span>s. Ca<span class=\"_ _0\"></span>sh flow<span class=\"_ _0\"></span>s inclu<span class=\"_ _0\"></span>de an all<span class=\"_ _0\"></span>owanc<span class=\"_ _0\"></span>e for the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted c<span class=\"_ _0\"></span>ost of pr<span class=\"_ _0\"></span>ovidin<span class=\"_ _0\"></span>g a NNEG a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d under a r<span class=\"_ _0\"></span>eal wor<span class=\"_ _0\"></span>ld app<span class=\"_ _0\"></span>roach u<span class=\"_ _0\"></span>sing a c<span class=\"_ _0\"></span>lose<span class=\"_ _0\"></span>d form mo<span class=\"_ _0\"></span>del inc<span class=\"_ _0\"></span>ludin<span class=\"_ _0\"></span>g an as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d level of p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y value vo<span class=\"_ _0\"></span>latili<span class=\"_ _0\"></span>ty. For t<span class=\"_ _0\"></span>he NNE<span class=\"_ _0\"></span>G asse<span class=\"_ _0\"></span>ssm<span class=\"_ _0\"></span>ent, p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y value<span class=\"_ _0\"></span>s are ind<span class=\"_ _0\"></span>exed fr<span class=\"_ _0\"></span>om the la<span class=\"_ _0\"></span>test p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y valuat<span class=\"_ _0\"></span>ion po<span class=\"_ _0\"></span>int and th<span class=\"_ _0\"></span>en as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d to grow in l<span class=\"_ _0\"></span>ine wit<span class=\"_ _0\"></span>h an RPI ba<span class=\"_ _0\"></span>sed as<span class=\"_ _0\"></span>sump<span class=\"_ _0\"></span>tion. C<span class=\"_ _0\"></span>ash flo<span class=\"_ _0\"></span>ws are di<span class=\"_ _0\"></span>scou<span class=\"_ _0\"></span>nted us<span class=\"_ _0\"></span>ing a ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-f<span class=\"_ _0\"></span>ree cu<span class=\"_ _0\"></span>rve pl<span class=\"_ _0\"></span>us a spre<span class=\"_ _0\"></span>ad, wh<span class=\"_ _0\"></span>ere th<span class=\"_ _0\"></span>e sprea<span class=\"_ _0\"></span>d is bas<span class=\"_ _0\"></span>ed on re<span class=\"_ _0\"></span>cen<span class=\"_ _0\"></span>t origin<span class=\"_ _0\"></span>ation<span class=\"_ _0\"></span>s, wi<span class=\"_ _0\"></span>th marg<span class=\"_ _0\"></span>ins to al<span class=\"_ _0\"></span>low for th<span class=\"_ _0\"></span>e diffe<span class=\"_ _0\"></span>rent ri<span class=\"_ _0\"></span>sk profil<span class=\"_ _0\"></span>es of ER<span class=\"_ _0\"></span>M loans<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _145\"> </span><span class=\"ws1\">I<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e stri<span class=\"_ _0\"></span>ps are tr<span class=\"_ _0\"></span>ansa<span class=\"_ _0\"></span>ctio<span class=\"_ _0\"></span>ns whe<span class=\"_ _0\"></span>re an owne<span class=\"_ _0\"></span>r-oc<span class=\"_ _0\"></span>cupi<span class=\"_ _0\"></span>er of a prop<span class=\"_ _0\"></span>er<span class=\"_ _0\"></span>ty ha<span class=\"_ _0\"></span>s sold a f<span class=\"_ _0\"></span>reeh<span class=\"_ _0\"></span>old or lo<span class=\"_ _0\"></span>ng lea<span class=\"_ _0\"></span>seho<span class=\"_ _0\"></span>ld inte<span class=\"_ _0\"></span>rest to t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up, and h<span class=\"_ _0\"></span>as sign<span class=\"_ _0\"></span>ed a lon<span class=\"_ _0\"></span>g lea<span class=\"_ _0\"></span>se (ty<span class=\"_ _0\"></span>pical<span class=\"_ _0\"></span>ly 30<span class=\"_ _0\"></span>-45 y<span class=\"_ _0\"></span>ears) o<span class=\"_ _0\"></span>r a groun<span class=\"_ _0\"></span>d lea<span class=\"_ _0\"></span>se </span>(t<span class=\"_ _0\"></span>ypica<span class=\"_ _0\"></span>lly 45<span class=\"_ _0\"></span>-175 yea<span class=\"_ _0\"></span>rs) and r<span class=\"_ _0\"></span>etain<span class=\"_ _0\"></span>s the rig<span class=\"_ _0\"></span>ht to rep<span class=\"_ _0\"></span>urcha<span class=\"_ _0\"></span>se the p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y at the en<span class=\"_ _0\"></span>d of the le<span class=\"_ _0\"></span>ase fo<span class=\"_ _0\"></span>r a nomin<span class=\"_ _0\"></span>al sum (u<span class=\"_ _0\"></span>suall<span class=\"_ _0\"></span>y \u00a31). Th<span class=\"_ _0\"></span>e inco<span class=\"_ _0\"></span>me str<span class=\"_ _0\"></span>ips are v<span class=\"_ _0\"></span>alue<span class=\"_ _0\"></span>d using a<span class=\"_ _0\"></span>n incom<span class=\"_ _0\"></span>e cap<span class=\"_ _0\"></span>itali<span class=\"_ _0\"></span>satio<span class=\"_ _0\"></span>n appro<span class=\"_ _0\"></span>ach<span class=\"_ _0\"></span>, where t<span class=\"_ _0\"></span>he annual rental income is<span class=\"_ _2\"></span> capit<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span>ise<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> using an appropriate yield.<span class=\"_ _2\"></span> The yield is determined by<span class=\"_ _2\"></span> con<span class=\"_ _0\"></span>sideri<span class=\"_ _2\"></span>ng recent transac<span class=\"_ _0\"></span>tions<span class=\"_ _2\"></span> involving similar<span class=\"_ _2\"></span> incom<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> strips<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>4 <span class=\"_ _145\"> </span><span class=\"ws1\">I<span class=\"_ _0\"></span>FL92C<span class=\"_ _0\"></span>15 an<span class=\"_ _0\"></span>d IML<span class=\"_ _0\"></span>92C1<span class=\"_ _0\"></span>5 rel<span class=\"_ _0\"></span>ate to imm<span class=\"_ _0\"></span>ediat<span class=\"_ _0\"></span>e annui<span class=\"_ _0\"></span>tant fe<span class=\"_ _0\"></span>male an<span class=\"_ _0\"></span>d male l<span class=\"_ _0\"></span>ives an<span class=\"_ _0\"></span>d refer to t<span class=\"_ _0\"></span>he 92 se<span class=\"_ _0\"></span>ries m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>alit<span class=\"_ _0\"></span>y tabl<span class=\"_ _0\"></span>es pro<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d by the C<span class=\"_ _0\"></span>ontinu<span class=\"_ _0\"></span>ous Mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lit<span class=\"_ _0\"></span>y Inves<span class=\"_ _0\"></span>tigat<span class=\"_ _0\"></span>ion (\u2018<span class=\"_ _0\"></span>CMI<span class=\"_ _0\"></span>\u2019).<span class=\"_ _3bd\"> </span></span>5 <span class=\"_ _145\"> </span><span class=\"ws1\">D<span class=\"_ _0\"></span>eriv<span class=\"_ _0\"></span>ative li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies inc<span class=\"_ _0\"></span>lude fo<span class=\"_ _0\"></span>rwa<span class=\"_ _0\"></span>rd inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>ts of \u00a33<span class=\"_ _0\"></span>3 millio<span class=\"_ _0\"></span>n (2023<span class=\"_ _0\"></span>: \u00a354 mi<span class=\"_ _0\"></span>llion) wh<span class=\"_ _0\"></span>ich inc<span class=\"_ _0\"></span>lude a c<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>ment to a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>re or prov<span class=\"_ _0\"></span>ide fun<span class=\"_ _0\"></span>ding fo<span class=\"_ _0\"></span>r fixed ra<span class=\"_ _0\"></span>te debt in<span class=\"_ _0\"></span>str<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s at spe<span class=\"_ _0\"></span>cifie<span class=\"_ _0\"></span>d futu<span class=\"_ _0\"></span>re date<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></span>6 <span class=\"_ _145\"> </span><span class=\"ws1\">In<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d with<span class=\"_ _0\"></span>in deri<span class=\"_ _0\"></span>vative a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies are l<span class=\"_ _0\"></span>onge<span class=\"_ _0\"></span>vit<span class=\"_ _0\"></span>y swap c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>cts wi<span class=\"_ _0\"></span>th cor<span class=\"_ _0\"></span>porat<span class=\"_ _0\"></span>e pens<span class=\"_ _0\"></span>ion sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s with a fa<span class=\"_ _0\"></span>ir valu<span class=\"_ _0\"></span>e of \u00a316<span class=\"_ _0\"></span>5 mill<span class=\"_ _0\"></span>ion (202<span class=\"_ _0\"></span>3: \u00a323<span class=\"_ _0\"></span>0 mill<span class=\"_ _0\"></span>ion) and \u00a3<span class=\"_ _0\"></span>63 mill<span class=\"_ _0\"></span>ion (20<span class=\"_ _0\"></span>23: \u00a31<span class=\"_ _0\"></span>00 mi<span class=\"_ _0\"></span>llion) </span>res<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>tivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. (s<span class=\"_ _0\"></span>ee not<span class=\"_ _0\"></span>e E3.<span class=\"_ _0\"></span>2 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls).<span class=\"_ _3bd\"> </span>7 <span class=\"_ _1af\"> </span><span class=\"ws1\">In<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d withi<span class=\"_ _0\"></span>n deriv<span class=\"_ _0\"></span>ative li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies is th<span class=\"_ _0\"></span>e Equit<span class=\"_ _0\"></span>y Rel<span class=\"_ _0\"></span>ease I<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e Plan (<span class=\"_ _0\"></span>\u2018ER<span class=\"_ _0\"></span>IP<span class=\"_ _0\"></span>\u2019) tot<span class=\"_ _0\"></span>al retu<span class=\"_ _0\"></span>rn swap w<span class=\"_ _0\"></span>ith a val<span class=\"_ _0\"></span>ue of \u00a33<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n (2023<span class=\"_ _0\"></span>: \u00a350 mi<span class=\"_ _0\"></span>llion), un<span class=\"_ _0\"></span>der wh<span class=\"_ _0\"></span>ich a sh<span class=\"_ _0\"></span>are of the d<span class=\"_ _0\"></span>ispo<span class=\"_ _0\"></span>sal pro<span class=\"_ _0\"></span>cee<span class=\"_ _0\"></span>ds aris<span class=\"_ _0\"></span>ing on </span>a<span class=\"_ gs1f7\"> </span>po<span class=\"_ _0\"></span>rtf<span class=\"_ _0\"></span>olio of pr<span class=\"_ _0\"></span>oper<span class=\"_ _0\"></span>ty re<span class=\"_ _0\"></span>vers<span class=\"_ _0\"></span>ions is p<span class=\"_ _0\"></span>ayabl<span class=\"_ _0\"></span>e to a third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y (see n<span class=\"_ _0\"></span>ote E.<span class=\"_ _0\"></span>3.<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r deta<span class=\"_ _0\"></span>ils).<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.1 Debt s<span class=\"_ _0\"></span>ecurit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span><table class=\"s w4a9 h23a\" id=\"_cc0f4a8a-8104-487a-9126-302b773fbff2\"><tr><td></td><td class=\"t m0 x1ce h29 y5cc1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5cc1 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5cc2 ff2 fs5 fc3 sc0 ls1 ws1\">Ana<span class=\"_ _0\"></span>lysi<span class=\"_ _0\"></span>s of Level 3 de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cc2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5cc2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5cc3 ff2 fs6 fc3 sc0 ls13 ws14\">Unquoted corporate bonds:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cc4 w4aa h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit a<span class=\"_ _0\"></span>gencie<span class=\"_ _0\"></span>s &amp; supranat<span class=\"_ _0\"></span>ionals<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94f y5cc4 w334 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">4<span class=\"_ _0\"></span>61<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x950 y5cc4 w14e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cc5 w4ab h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Private co<span class=\"_ _0\"></span>rporate cre<span class=\"_ _0\"></span>dit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x951 y5cc5 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,04<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x952 y5cc5 w4ac h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,829<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1d w4ad h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans \u2013 pro<span class=\"_ _0\"></span>ject fin<span class=\"_ _0\"></span>ance<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x953 y5c1d w4ae h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">1<span class=\"_ _0\"></span>,01<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x954 y5c1d w3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cc6 w4af h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans \u2013 co<span class=\"_ _0\"></span>rporate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x955 y5cc6 w4b0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,613<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x956 y5cc6 w132 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,493<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1f w476 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x957 y5c1f w2b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,172<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x958 y5c1f w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,186<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b31 w478 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x959 y5b31 w2c0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">8<span class=\"_ _0\"></span>23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95a y5b31 w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">9<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b32 w4b2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">ERM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95b y5b32 w172 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">4<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95c y5b32 w4b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,48<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 w487 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95d y5b33 w4b4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95e y5b33 w404 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>147<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 w4b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56a y5b34 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">555<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95f y5b34 w4b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">6<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w4b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Bridg<span class=\"_ _0\"></span>ing loans to pr<span class=\"_ _0\"></span>ivate equit<span class=\"_ _0\"></span>y funds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x551 y5afa w171 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x960 y5afa w20c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x961 y5c66 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5c66 w390 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w4b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal L<span class=\"_ _0\"></span>ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 3 debt se<span class=\"_ _0\"></span>curities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x962 y5a46 w41e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x963 y5a46 w4b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">13<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x964 y5b25 w4ba h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(555)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x965 y5b25 w4bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(67<span class=\"_ _2\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w4bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal L<span class=\"_ _0\"></span>ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 3 debt se<span class=\"_ _0\"></span>curities exc<span class=\"_ _0\"></span>luding a<span class=\"_ _0\"></span>mount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sified as h<span class=\"_ _0\"></span>eld for sa<span class=\"_ _0\"></span>le<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x966 y5a16 w4bd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">14,<span class=\"_ _0\"></span>591<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x967 y5a16 w4be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">13,<span class=\"_ _0\"></span>144<span class=\"_ _3bd\"> </span></div></td></tr></table>E2<span class=\"_ _0\"></span>.4 S<span class=\"_ _0\"></span>ensit<span class=\"_ _0\"></span>ivities o<span class=\"_ _0\"></span>f Level 3 ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts<span class=\"_ _3bd\"> </span><table class=\"s w4bf h23b\" id=\"_9dbae669-f2a7-4d4d-876b-08e5465c1175\"><tr><td></td><td></td><td></td><td class=\"c n x968 y5cc7 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x969 y5cc7 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x3ae h29 y5cc8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96a h29 y5cc8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96b ha y5cc8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96c ha y5cc8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act f<span class=\"_ _0\"></span>rom </td></tr><tr><td></td><td class=\"t m0 x3b7 ha y5cc9 ff2 fs5 fc3 sc0 ls11 ws11\">Key<span class=\"_ _2\"></span> unobse<span class=\"_ _0\"></span>rvable </td><td class=\"t m0 x96d ha y5cc9 ff2 fs5 fc3 sc0 ls11 ws11\">Reasonable </td><td class=\"t m0 x96e h29 y5cc9 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f h29 y5cc9 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x970 ha y5cc9 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x971 ha y5cc9 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x3b7 ha y5cca ff2 fs5 fc3 sc0 ls21 ws23\">input<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96d ha y5cca ff2 fs5 fc3 sc0 ls22 ws24\">alternative<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5cca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 h29 y5cca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a ha y5cca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5cca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5ccb w469 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x973 y5ccb w4c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net ass<span class=\"_ _0\"></span>et value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x974 y5ccb w4c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x975 y5ccb w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x976 y5ccb w4c3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x977 y5ccb w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x978 y5ccb w84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5ccc ff2 fs6 fc3 sc0 ls12 ws13\">statements<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c h23 y5ccd ff3 fs6 fc3 sc0 ls10 ws10\">Debt secu<span class=\"_ _2\"></span>rities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5cce ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit a<span class=\"_ _0\"></span>gencie<span class=\"_ _0\"></span>s </td><td class=\"c n x979 y5ccf w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ccf w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97b y5ccf w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97c y5ccf w4c6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97d y5ccf w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97e y5ccf w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5cd0 ff2 fs6 fc3 sc0 ls13 ws14\">and supranationals<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5cd1 w471 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private corporate credit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97f y5cd1 w4c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x980 y5cd1 w4c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/-<span class=\"_ _2\"></span> 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5cd1 w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(169)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x982 y5cd1 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">181<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x983 y5cd1 w4ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>103)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x984 y5cd1 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">116<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd2 w2b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x985 y5cd2 w4c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x986 y5cd2 w4cb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x987 y5cd2 w4cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x988 y5cd2 w4cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">1<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x989 y5cd2 w4ce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(129)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98a y5cd2 w4d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">134<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd3 w476 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98b y5cd3 w4cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit sp<span class=\"_ _0\"></span>read<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98c y5cd3 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 65<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98d y5cd3 w4d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>97)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98e y5cd3 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98f y5cd3 w4d1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(93<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x990 y5cd3 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">105<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd4 w478 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x991 y5cd4 w4d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x992 y5cd4 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x993 y5cd4 w4d3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x994 y5cd4 w4d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x995 y5cd4 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x996 y5cd4 w4d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd5 w4b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">ERM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x997 y5cd5 w4d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">C<span class=\"_ _0\"></span>redit sprea<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x998 y5cd5 w4d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>- 10<span class=\"_ _0\"></span>0bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x999 y5cd5 w4d8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">(41<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99a y5cd5 w284 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">457<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99b y5cd5 w4d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(37<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99c y5cd5 w4da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cd6 ff2 fs6 fc3 sc0 lsc wsb\">House pr<span class=\"_ _2\"></span>ice </td><td class=\"c n x974 y5cd7 w4db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99d y5cd7 w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99e y5cd7 w4dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(80<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99f y5cd7 w3e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a0 y5cd7 w4dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">(<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cd8 ff2 fs6 fc3 sc0 ls12b ws3c\">inflation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n x979 y5cd9 w4de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">House pr<span class=\"_ _2\"></span>ices<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a1 y5cd9 w4df h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a2 y5cd9 w4e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a3 y5cd9 w378 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(55<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a4 y5cd9 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a5 y5cd9 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(59)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x979 y5cda w4e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Mor<span class=\"_ _0\"></span>tality<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a6 y5cda w4db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 5<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a7 y5cda w135 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a8 y5cda w4e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a9 y5cda w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9aa y5cda w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cdb ff2 fs6 fc3 sc0 ls13 ws14\">V<span class=\"_ _2\"></span>oluntary </td><td class=\"c n x974 y5cdc w4c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ab y5cdc w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ac y5cdc w4e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ad y5cdc w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ae y5cdc w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cdd ff2 fs6 fc3 sc0 ls1 ws1\">rede<span class=\"_ _0\"></span>mption rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5cde w487 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9af y5cde w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b0 y5cde w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b1 y5cde w2d6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b2 y5cde w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b3 y5cde w4e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b4 y5cde w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">48<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cdf w4b5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9af y5cdf w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b0 y5cdf w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b5 y5cdf w4e6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b6 y5cdf w373 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b7 y5cdf w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(89)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b8 y5cdf wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce0 w48e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Collecti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b9 y5ce0 w4e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>ue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x974 y5ce0 w4c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ba y5ce0 w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bb y5ce0 w4e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(49<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bc y5ce0 w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bd y5ce0 w4e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce1 w4ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">Derivative ass<span class=\"_ _0\"></span>ets and liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x3b7 hc y5ce2 ff2 fs6 fc3 sc0 ls12 ws13\">statements<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td class=\"c n x9be y5ce1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce3 ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward private pla<span class=\"_ _0\"></span>cement<span class=\"_ _0\"></span>s, infra<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>ture </td><td class=\"c n x979 y5ce4 w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ce4 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bf y5ce4 w4eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c0 y5ce4 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c1 y5ce4 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c2 y5ce4 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce5 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>lo<span class=\"_ _0\"></span>cal auth<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y loans<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce6 w4ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swap contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c3 y5ce6 w4ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sw<span class=\"_ _0\"></span>ap curve<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c4 y5ce6 w4ee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/-<span class=\"_ _2\"></span> 1<span class=\"_ _0\"></span>00bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c5 y5ce6 w185 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c6 y5ce6 w4ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c7 y5ce6 w208 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c8 y5ce6 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce7 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total  </td><td class=\"c n x979 y5ce8 w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ce8 w4f0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 1<span class=\"_ _0\"></span>00bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c9 y5ce8 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ca y5ce8 w4f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cb y5ce8 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cc y5ce8 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce9 ff2 fs6 fc3 sc0 ls1 ws1\">return s<span class=\"_ _0\"></span>wap<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>For the pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>y rever<span class=\"_ _0\"></span>sions loan<span class=\"_ _0\"></span>s and bridgin<span class=\"_ _0\"></span>g loans to priva<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y funds<span class=\"_ _0\"></span>, there are no re<span class=\"_ _0\"></span>asonab<span class=\"_ _0\"></span>ly possib<span class=\"_ _0\"></span>le movement<span class=\"_ _0\"></span>s in unobse<span class=\"_ _0\"></span>rvable in<span class=\"_ _0\"></span>put value<span class=\"_ _0\"></span>s which would re<span class=\"_ _0\"></span>sult in a signific<span class=\"_ _0\"></span>ant movement in th<span class=\"_ _0\"></span>e fair value of the fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.5 T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs of finan<span class=\"_ _0\"></span>cial i<span class=\"_ _0\"></span>nstr<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween Level 1 a<span class=\"_ _0\"></span>nd Level 2<span class=\"_ _3bd\"> </span><table class=\"s w4f2 h23c\" id=\"_188701f7-ddfd-48bf-b742-51513608b6eb\"><tr><td></td><td class=\"t m0 x57a h29 y5cea ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 1 to </td><td class=\"t m0 x9cd h29 y5cea ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 2 to </td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5ceb ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 h29 y5ceb ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5cec ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5cec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5ced ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5cee ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b29 we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ce y5b29 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cf y5b29 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b06 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d0 y5b06 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d1 y5b06 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a15 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d2 y5a15 w131 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>319<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d3 y5a15 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">244<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a16 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d4 y5a16 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d5 y5a16 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w4f2 h23d\" id=\"_eec37631-5858-4478-903c-eb832b570ab8\"><tr><td></td><td class=\"t m0 x57a h29 y5cef ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 1 to </td><td class=\"t m0 x9cd h29 y5cef ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 2 to </td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5cf0 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 h29 y5cf0 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5cf1 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cf1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5cf1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5cf2 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5cf3 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cf4 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d6 y5cf4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d7 y5cf4 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5cf5 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets des<span class=\"_ _0\"></span>ignated at F<span class=\"_ _0\"></span>VT<span class=\"_ _0\"></span>PL upon initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cf6 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x24c y5cf6 wcc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x24d y5cf6 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cf7 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d2 y5cf7 w4f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d8 y5cf7 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">7<span class=\"_ _0\"></span>25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5cf8 w3d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f6 y5a16 w4f4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">1,188<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d9 y5a16 w119 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>As a re<span class=\"_ _0\"></span>sult of th<span class=\"_ _0\"></span>e ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of th<span class=\"_ _0\"></span>e liquid<span class=\"_ _0\"></span>ity of t<span class=\"_ _0\"></span>he und<span class=\"_ _0\"></span>erlyi<span class=\"_ _0\"></span>ng inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d withi<span class=\"_ _0\"></span>n colle<span class=\"_ _0\"></span>ctiv<span class=\"_ _0\"></span>e invest<span class=\"_ _0\"></span>ment s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>es, i<span class=\"_ _0\"></span>n acco<span class=\"_ _0\"></span>rdan<span class=\"_ _0\"></span>ce with t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up\u2019s fair va<span class=\"_ _0\"></span>lue hie<span class=\"_ _0\"></span>rarchy c<span class=\"_ _0\"></span>las<span class=\"_ _0\"></span>sifica<span class=\"_ _0\"></span>tion m<span class=\"_ _0\"></span>ethod<span class=\"_ _0\"></span>olog<span class=\"_ _0\"></span>y a<span class=\"_ gs1f7\"> </span>net \u00a31<span class=\"_ _0\"></span>,172 mil<span class=\"_ _0\"></span>lion of co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s has tr<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rred f<span class=\"_ _0\"></span>rom Level 1 t<span class=\"_ _0\"></span>o Level 2.<span class=\"_ _3bd\"> </span>Con<span class=\"_ _0\"></span>sistent with t<span class=\"_ _0\"></span>he prior year, all the Group\u2019s Level 1 and Level 2 a<span class=\"_ _0\"></span>ssets h<span class=\"_ _0\"></span>ave been val<span class=\"_ _0\"></span>ued using s<span class=\"_ _0\"></span>tandar<span class=\"_ _0\"></span>d market pricing so<span class=\"_ _0\"></span>urces<span class=\"_ _0\"></span>. The ap<span class=\"_ _0\"></span>plication of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s fa<span class=\"_ _0\"></span>ir value hierarc<span class=\"_ _0\"></span>hy classifi<span class=\"_ _0\"></span>cation met<span class=\"_ _0\"></span>hodolo<span class=\"_ _0\"></span>gy at an individ<span class=\"_ _0\"></span>ual sec<span class=\"_ _0\"></span>urity leve<span class=\"_ _0\"></span>l, in par<span class=\"_ _0\"></span>ticular obs<span class=\"_ _0\"></span>ervat<span class=\"_ _0\"></span>ions with reg<span class=\"_ _0\"></span>ard to mea<span class=\"_ _0\"></span>sures of market depth an<span class=\"_ _0\"></span>d bid-ask s<span class=\"_ _0\"></span>preads<span class=\"_ _0\"></span>, resulted in a<span class=\"_ _0\"></span>n ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rall net movem<span class=\"_ _0\"></span>ent of debt sec<span class=\"_ _0\"></span>urities from Level 1 to Level 2 in b<span class=\"_ _0\"></span>oth the current and pr<span class=\"_ _0\"></span>ior period<span class=\"_ _0\"></span>. E2<span class=\"_ _0\"></span>.6 Movem<span class=\"_ _0\"></span>ent in Level 3 fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial ins<span class=\"_ _0\"></span>trum<span class=\"_ _0\"></span>ents me<span class=\"_ _0\"></span>asur<span class=\"_ _0\"></span>ed at fair va<span class=\"_ _0\"></span>lue<span class=\"_ _3bd\"> </span><table class=\"s w4f5 h23e\" id=\"_32c57813-a49e-4133-a6c4-a76bdea421ac\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9da h29 y5cf9 ff3 fs5 fc3 sc0 lsbe wsbe\">Unrealised </td></tr><tr><td></td><td></td><td class=\"t m0 x9db h29 y5cfa ff3 fs5 fc3 sc0 ls8d ws86\">Net (losses)<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 x49b h29 y5cfa ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransfers<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 x9dc h29 y5cfb ff3 fs5 fc3 sc0 ls8d ws86\">(losses)/<span class=\"_ _4\"></span>gains </td></tr><tr><td></td><td></td><td class=\"t m0 x3a3 h29 y5cfc ff3 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins in </td><td></td><td></td><td class=\"t m0 x9dd h29 y5cfc ff3 fs5 fc3 sc0 ls1 ws1\"> fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x9de h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ans<span class=\"_ _0\"></span>fers to </td><td class=\"t m0 x9df h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 x9e0 h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">on a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s hel<span class=\"_ _0\"></span>d </td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5cfe ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x3a3 h29 y5cfe ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td></td><td></td><td class=\"t m0 x96a h29 y5cfe ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 </td><td class=\"t m0 x9e2 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 x492 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 x498 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5d00 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea h29 y5d00 ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f4 h29 y5d00 ff3 fs5 fc3 sc0 ls8d ws86\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e3 h29 y5d00 ff3 fs5 fc3 sc0 ls8d ws86\">Sales<span class=\"_ _3bd\"> </span></td><td class=\"c x924 y5d02 w4f6 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">an<span class=\"_ _0\"></span>d Level 2</div><div class=\"t m0 x9e4 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">2</div></td><td class=\"t m0 x919 h29 y5d03 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"c x9e6 y5d02 w4f7 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024</div><div class=\"t m0 x9e5 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x6be h29 y5d03 ff3 fs5 fc3 sc0 ls22 ws24\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5d04 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d06 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d07 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d08 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d08 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ea y5d08 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9eb y5d08 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ec y5d08 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ed y5d08 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ee y5d08 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ef y5d08 w4f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f0 y5d08 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5d09 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f1 y5d09 w10a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">2,49<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f2 y5d09 w98 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f3 y5d09 w4f9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">446<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f4 y5d09 w4fa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f5 y5d09 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f6 y5d09 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a7 y5d09 w4fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">2,<span class=\"_ _0\"></span>576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f7 y5d09 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c06 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f8 y5c06 w4fc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6d ws202\">13,818<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f9 y5c06 w4fd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(335<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fa y5c06 w4fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>42<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fb y5c06 w4ff h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fc y5c06 wd2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">282<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fd y5c06 waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fe y5c06 w41e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ff y5c06 w500 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>259<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c07 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa00 y5c07 w501 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">401<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa01 y5c07 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa02 y5c07 w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa03 y5c07 w503 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(60)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa04 y5c07 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa05 y5c07 w9f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa06 y5c07 w2d8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa07 y5c07 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w421 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa08 y5a16 w504 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa09 y5a16 w4fd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls8e ws87\">(346<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0a y5a16 w505 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,01<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0b y5a16 w506 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>02)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0c y5a16 w221 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0d y5a16 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0e y5a16 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0f y5a16 w4ba h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(239)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>T<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al finan<span class=\"_ _0\"></span>cial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts of \u00a31<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>37<span class=\"_ _2\"></span>4 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a355<span class=\"_ _0\"></span>5 milli<span class=\"_ _0\"></span>on of ass<span class=\"_ _0\"></span>ets cl<span class=\"_ _0\"></span>ass<span class=\"_ _0\"></span>ified as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>D<span class=\"_ _0\"></span>uring t<span class=\"_ _0\"></span>he year, \u00a32<span class=\"_ _0\"></span>82 milli<span class=\"_ _0\"></span>on of deb<span class=\"_ _0\"></span>t secu<span class=\"_ _0\"></span>ritie<span class=\"_ _0\"></span>s were tr<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rred f<span class=\"_ _0\"></span>rom Leve<span class=\"_ _0\"></span>l 1 and Leve<span class=\"_ _0\"></span>l 2 to Level 3 to h<span class=\"_ _0\"></span>armo<span class=\"_ _0\"></span>nise th<span class=\"_ _0\"></span>e appr<span class=\"_ _0\"></span>oach fo<span class=\"_ _0\"></span>r deter<span class=\"_ _0\"></span>minin<span class=\"_ _0\"></span>g the fair v<span class=\"_ _0\"></span>alue hi<span class=\"_ _0\"></span>erar<span class=\"_ _0\"></span>chy acro<span class=\"_ _0\"></span>ss th<span class=\"_ _0\"></span>e Group fo<span class=\"_ _0\"></span>llowin<span class=\"_ _0\"></span>g the ac<span class=\"_ _0\"></span>quisi<span class=\"_ _0\"></span>tion of Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s Limite<span class=\"_ _0\"></span>d (forme<span class=\"_ _0\"></span>rly kn<span class=\"_ _0\"></span>own as S<span class=\"_ _0\"></span>LF of Can<span class=\"_ _0\"></span>ada UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d) in the p<span class=\"_ _0\"></span>rior pe<span class=\"_ _0\"></span>riod<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w507 h240\" id=\"_910f38ae-c48d-4f96-b46e-4a5836c854f3\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9da h29 y5d0a ff3 fs5 fc3 sc0 lsbe wsbe\">Unrealised </td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9e0 h29 y5d0b ff3 fs5 fc3 sc0 ls8d ws86\">(gains)/<span class=\"_ _2\"></span>loss<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> </td></tr><tr><td></td><td></td><td class=\"t m0 xa10 h29 y5d0c ff3 fs5 fc3 sc0 lsa4 ws9f\">Ne<span class=\"_ _0\"></span>t (gai<span class=\"_ _0\"></span>ns)/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x971 h29 y5d0c ff3 fs5 fc3 sc0 ls8d ws86\">losses on </td></tr><tr><td></td><td></td><td class=\"t m0 x2e3 h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">los<span class=\"_ _0\"></span>ses i<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 x49b h29 y5d0d ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransfers </td><td class=\"t m0 x9de h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ans<span class=\"_ _0\"></span>fers to </td><td class=\"t m0 xa11 h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">At 31<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e0 h29 y5d0d ff3 fs5 fc3 sc0 ls65 wsc0\">liabilities held </td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5d0e ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x3a3 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td></td><td class=\"t m0 x490 h29 y5d0e ff3 fs5 fc3 sc0 ls8d ws86\">Sales/ </td><td class=\"t m0 xa12 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">fro<span class=\"_ _0\"></span>m Level 1 </td><td class=\"t m0 x9e2 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 x75e h29 y5d0e ff3 fs5 fc3 sc0 lsbe wsbe\"> December </td><td class=\"t m0 x498 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5d0f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea h29 y5d0f ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f4 h29 y5d0f ff3 fs5 fc3 sc0 ls8d ws86\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae h29 y5d0f ff3 fs5 fc3 sc0 lsbe wsbe\">repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa13 h29 y5d0f ff3 fs5 fc3 sc0 ls1 ws1\">an<span class=\"_ _0\"></span>d Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x919 h29 y5d0f ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5d0f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6be h29 y5d0f ff3 fs5 fc3 sc0 ls22 ws24\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5d10 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d11 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d12 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d13 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa14 y5d13 w14e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">206<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa15 y5d13 w508 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa16 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa17 y5d13 w33f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa18 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa19 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1a y5d13 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1b y5d13 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>67)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5d14 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d15 ff2 fs6 fc3 sc0 lsd wsd\">initial recog<span class=\"_ _0\"></span>nition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c07 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1c y5c07 w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1d y5c07 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1e y5c07 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1f y5c07 w187 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa20 y5c07 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa21 y5c07 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa22 y5c07 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa23 y5c07 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w509 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> mea<span class=\"_ _0\"></span>sured<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa24 y5a16 w50a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa25 y5a16 w185 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa26 y5a16 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa27 y5a16 w50b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa28 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa29 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa2a y5a16 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa2b y5a16 w503 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(65)<span class=\"_ _3bd\"> </span></div></td></tr></table><div class=\"gs79\"><table class=\"s w50c h241\" id=\"_80791844-630e-45b6-99b4-786198e658b9\"><tr><td></td><td></td><td class=\"t m0 xa2c ha y5d16 ff2 fs5 fc3 sc0 ls11 ws11\">Net (losses)/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x941 ha y5d16 ff2 fs5 fc3 sc0 ls21 ws23\">Unrealis<span class=\"_ _0\"></span>ed </td></tr><tr><td></td><td></td><td class=\"t m0 x2de ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins in </td><td></td><td></td><td class=\"t m0 x606 ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x913 ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs to </td><td class=\"t m0 x9df ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 x86c ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins on as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s </td></tr><tr><td></td><td class=\"t m0 xa2d ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2de ha y5d18 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td></td><td></td><td class=\"t m0 x3bc ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2e ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2f ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 xa30 ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">he<span class=\"_ _0\"></span>ld at end o<span class=\"_ _0\"></span>f </td></tr><tr><td></td><td class=\"t m0 x3b2 ha y5d19 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea ha y5d19 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 ha y5d19 ff2 fs5 fc3 sc0 ls54 ws7f\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e3 ha y5d19 ff2 fs5 fc3 sc0 ls11 ws11\">Sales<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96a ha y5d19 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x919 ha y5d19 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"c x9e6 y5d1a w4f7 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023</div><div class=\"t m0 x9e5 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 xa32 ha y5d19 ff2 fs5 fc3 sc0 ls9e ws9a\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5d1b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d1c ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d1d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d1e wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa33 y5d1e w1a8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa34 y5d1e w20d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa35 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa36 y5d1e w251 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa37 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa38 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa39 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3a y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5d1f we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d1f w50d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3b y5d1f w5c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3c y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3d y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3e y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3f y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa40 y5d1f wd2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa41 y5d1f w5c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5a45 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f1 y5a45 w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,19<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa42 y5a45 w50e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa43 y5a45 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">433<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa44 y5a45 w4ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>293)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa45 y5a45 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa46 y5a45 w1fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa47 y5a45 w132 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa48 y5a45 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5b24 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f8 y5b24 w54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _0\"></span>,465<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa49 y5b24 w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4a y5b24 w510 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4b y5b24 w511 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4c y5b24 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">150<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4d y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4e y5b24 w512 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">1<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>818<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4f y5b24 w20c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5b25 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa50 y5b25 w441 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">312<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa51 y5b25 w513 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa52 y5b25 w514 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa53 y5b25 w324 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa54 y5b25 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa55 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa56 y5b25 we0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">401<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa41 y5b25 w199 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w421 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa57 y5a16 w515 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">14<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa58 y5a16 w516 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1de ws1f9\">70<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa59 y5a16 w510 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5a y5a16 w517 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>5,<span class=\"_ _0\"></span>528)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5b y5a16 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">153<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5c y5a16 w518 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5d y5a16 w519 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5e y5a16 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs3b7\">1  <span class=\"_ _1a\"> </span>Total fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s of \u00a316<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>46 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a3678 m<span class=\"_ _0\"></span>illion o<span class=\"_ _0\"></span>f asse<span class=\"_ _0\"></span>ts cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as h<span class=\"_ _0\"></span>eld for s<span class=\"_ _0\"></span>ale.<span class=\"_ _3bd\"> </span></div><div class=\"gs3b8\"><table class=\"s w50c h242\" id=\"_1d184edc-d623-48c6-bbd6-df06a9ee08bd\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x941 ha y5d20 ff2 fs5 fc3 sc0 ls21 ws23\">Unrealis<span class=\"_ _0\"></span>ed </td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x498 ha y5d21 ff2 fs5 fc3 sc0 ls1 ws1\">los<span class=\"_ _0\"></span>ses o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td></td><td class=\"t m0 xa2c ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t loss<span class=\"_ _0\"></span>es in </td><td></td><td></td><td class=\"t m0 x606 ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x913 ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs to </td><td class=\"t m0 x9df ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 xa30 ha y5d22 ff2 fs5 fc3 sc0 ls21 ws23\">liabilities he<span class=\"_ _0\"></span>ld </td></tr><tr><td></td><td class=\"t m0 xa2d ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2de ha y5d23 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td></td><td class=\"t m0 x490 ha y5d23 ff2 fs5 fc3 sc0 ls11 ws11\">Sales/<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bc ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2e ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2f ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 x498 ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x3b2 ha y5d24 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea ha y5d24 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 ha y5d24 ff2 fs5 fc3 sc0 ls54 ws7f\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae ha y5d24 ff2 fs5 fc3 sc0 ls4d wsbf\">Repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96a ha y5d24 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa5f ha y5d24 ff2 fs5 fc3 sc0 ls14a ws138\">Level </td><td class=\"t m0 x49c ha y5d24 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa32 ha y5d24 ff2 fs5 fc3 sc0 ls9e ws9a\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5d25 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f7 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">2\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d26 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d27 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d28 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d28 w51a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa60 y5d28 w2a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">67<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa61 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa62 y5d28 w28b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(10<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa63 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa64 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa65 y5d28 w215 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa66 y5d28 w341 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">59<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5d29 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d2a ff2 fs6 fc3 sc0 lsd wsd\">initial recog<span class=\"_ _0\"></span>nition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d2b w142 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa67 y5d2b w51b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa68 y5d2b w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa69 y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6a y5d2b w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6b y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6c y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6d y5d2b w1b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6e y5d2b wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5d2c ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> mea<span class=\"_ _0\"></span>sured<span class=\"_ _2\"></span> <span class=\"ls1 ws1\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b4c w51c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">at fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6f y5b4c w6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">307<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa70 y5b4c w51d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa71 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa72 y5b4c w84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa73 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa74 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa75 y5b4c w2ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">2<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa76 y5b4c wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3b9\">Gains a<span class=\"_ _0\"></span>nd loss<span class=\"_ _0\"></span>es on Level 3 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me statem<span class=\"_ _0\"></span>ent. Th<span class=\"_ _0\"></span>ere were no<span class=\"_ gs47\"> </span>gain<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs3ba\">or los<span class=\"_ _0\"></span>ses rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income in ei<span class=\"_ _0\"></span>ther the cur<span class=\"_ _0\"></span>rent or compa<span class=\"_ _0\"></span>rative perio<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-660": {
   "value": "E1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Fair v<span class=\"_ _0\"></span>alue an<span class=\"_ _0\"></span>alysis<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>ets out a c<span class=\"_ _0\"></span>ompariso<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts and fair v<span class=\"_ _0\"></span>alues of financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments:<span class=\"_ _3bd\"> </span>20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span><table class=\"s w3cf h22f\" id=\"_7d9a10f8-3246-47ca-8eac-5f5883e08804\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5bf7 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5bf8 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5bf9 ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5bfa ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5bfa ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5bfa ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bfc ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"ff2 ls1 ws1\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5bfd ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bfe wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c9 y5bfe w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ca y5bfe we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cb y5bfe w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bff we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cc y5bff w3d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cd y5bff w3d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">2,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ce y5bff wcf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c00 w3d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d1 y5b31 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d2 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c01 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d3 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>9,301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d4 y5c01 w3d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _0\"></span>,854<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d5 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">89,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c02 w3d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b3b w3d7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d7 y5b3b w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d8 y5b3b w3d8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c03 w3d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w2f8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7db y5b34 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dc y5b34 w3da h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>297<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c04 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c05 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dd y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7de y5c05 wcc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7df y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c06 w3db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5c06 w3dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">281<span class=\"_ _1\"></span>,524<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e1 y5c06 w3dd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">28<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e3 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,98<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e4 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>985<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3e0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2<span class=\"_ _2\"></span>79,5<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e6 y5a16 wf5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">279,539<span class=\"_ _3bd\"> </span></div></td></tr></table>20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span><table class=\"s w3e1 h230\" id=\"_23068ccd-d8ca-46f8-ab87-86cb0b52cbbe\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5c08 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5c09 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5c0a ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5c0b ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5c0b ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5c0b ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c0d ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c0e ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c0f we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e7 y5c0f w2b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e8 y5c0f w106 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">3,<span class=\"_ _0\"></span>443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e9 y5c0f w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c10 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c00 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c00 w3e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7eb y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c01 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ee y5b32 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ef y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c11 w3e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f2 y5b33 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f3 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c12 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c13 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f4 y5c13 w2b8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3<span class=\"_ _0\"></span>,591<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f5 y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,30<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54d y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,59<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c14 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f6 y5c14 w3e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">849<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f7 y5c14 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f8 y5c14 w12a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f9 y5c15 w3e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls81 ws14c\">184,964<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fa y5c15 w3ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">18<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,97<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fd y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3ed h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fe y5a16 w3ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7ff y5a16 w3ef h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude eq<span class=\"_ _0\"></span>uitie<span class=\"_ _0\"></span>s of \u00a314 mil<span class=\"_ _0\"></span>lion, d<span class=\"_ _0\"></span>ebt se<span class=\"_ _0\"></span>curi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>979 milli<span class=\"_ _0\"></span>on, co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s of \u00a39<span class=\"_ _0\"></span>60 mil<span class=\"_ _0\"></span>lion an<span class=\"_ _0\"></span>d reins<span class=\"_ _0\"></span>urers\u2019 s<span class=\"_ _0\"></span>hare of i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment co<span class=\"_ _0\"></span>ntra<span class=\"_ _0\"></span>ct liabilities of \u00a332 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as finan<span class=\"_ _0\"></span>cial li<span class=\"_ _0\"></span>abili<span class=\"_ _0\"></span>ties he<span class=\"_ _0\"></span>ld for s<span class=\"_ _0\"></span>ale inc<span class=\"_ _0\"></span>lude inv<span class=\"_ _0\"></span>estm<span class=\"_ _0\"></span>ent co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>t liabi<span class=\"_ _0\"></span>litie<span class=\"_ _0\"></span>s of \u00a33,1<span class=\"_ _0\"></span>75 milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>2023<span class=\"_ _3bd\"> </span><table class=\"s w3f0 h231\" id=\"_c4f069a9-37a2-4895-a38f-a24c70eeb6e3\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c16 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c17 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x64a ha y5c18 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c19 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x801 ha y5c19 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y5c19 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c1b ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c1c ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c1d wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x803 y5c1d w3f1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">231<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x804 y5c1d wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x805 y5c1d w3f2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1e we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x806 y5c1e w15e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x807 y5c1e wf3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">2<span class=\"_ _0\"></span>,338<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x808 y5c1e we4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c1f w3d2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80a y5c1f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80b y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b31 w3f3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment in ass<span class=\"_ _0\"></span>ociate (se<span class=\"_ _0\"></span>e note H4.1)</div><div class=\"t m0 x80c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80d y5b31 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80e y5b31 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80f y5b31 w3f4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c20 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x810 y5c20 w3f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x811 y5c20 w3f6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79,9<span class=\"_ _0\"></span>94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x812 y5c20 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b3b w3d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5b3b w3f8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">79<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x813 y5b3b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x814 y5b3b w3f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">7<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>937<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b34 w3d9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w15e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x815 y5b34 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x816 y5b34 w3fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c21 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c22 wdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x817 y5c22 w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x818 y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5b24 w3fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x819 y5b24 w3fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b25 w3de h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2,<span class=\"_ _0\"></span>498)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81a y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2<span class=\"_ _0\"></span>,498)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3fe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81b y5a16 wf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>94<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w3ff h232\" id=\"_8f44244c-11a3-4ffa-954c-cb26e30c1c72\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c23 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c24 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c25 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x64a ha y5c26 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td class=\"t m0 x802 ha y5c27 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x81d y5c28 w400 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81c h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x801 ha y5c29 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5c28 w401 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81e h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a ha y5c2a ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c2a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c2c ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c2d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c2e we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x81f y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x820 y5c2e wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">2<span class=\"_ _0\"></span>,976<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x821 y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c2f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c30 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x822 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x823 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c31 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x824 y5c31 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x825 y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c32 w402 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">1,3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x826 y5c32 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x827 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c33 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b48 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x828 y5b48 w404 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x829 y5b48 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82a y5b48 w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b49 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82b y5b49 w405 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82c y5b49 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82d y5b49 w14a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82e y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>57<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x82f y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">173<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b43 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b43 w407 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x830 y5b43 w408 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w3ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x831 y5b4c w409 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">16<span class=\"_ _0\"></span>8,875<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x832 y5b4c w21b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude der<span class=\"_ _0\"></span>ivati<span class=\"_ _0\"></span>ves of \u00a33 mi<span class=\"_ _0\"></span>llion<span class=\"_ _0\"></span>, equi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>28 milli<span class=\"_ _0\"></span>on, de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es of \u00a31<span class=\"_ _0\"></span>,411 m<span class=\"_ _0\"></span>illion<span class=\"_ _0\"></span>, coll<span class=\"_ _0\"></span>ecti<span class=\"_ _0\"></span>ve inves<span class=\"_ _0\"></span>tment s<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>mes of \u00a31<span class=\"_ _0\"></span>,02<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n and re<span class=\"_ _0\"></span>insure<span class=\"_ _0\"></span>rs\u2019 share of investme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ontract liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> of \u00a328 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee note A<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etai<span class=\"_ _0\"></span>ls of the pr<span class=\"_ _0\"></span>ior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>4  Am<span class=\"_ _0\"></span>ounts classifie<span class=\"_ _0\"></span>d as financial liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> he<span class=\"_ _0\"></span>ld for<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ale include derivative liabilit<span class=\"_ _0\"></span>ies of<span class=\"_ _2\"></span> \u00a3<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span> millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span> an<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> inves<span class=\"_ _0\"></span>tment contrac<span class=\"_ _0\"></span>t liabilities of \u00a3<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>,780 million.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-656": {
   "value": "E1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Fair v<span class=\"_ _0\"></span>alue an<span class=\"_ _0\"></span>alysis<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>ets out a c<span class=\"_ _0\"></span>ompariso<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts and fair v<span class=\"_ _0\"></span>alues of financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments:<span class=\"_ _3bd\"> </span>20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span><table class=\"s w3cf h22f\" id=\"_7d9a10f8-3246-47ca-8eac-5f5883e08804\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5bf7 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5bf8 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5bf9 ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5bfa ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5bfa ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5bfa ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bfc ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"ff2 ls1 ws1\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5bfd ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bfe wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c9 y5bfe w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ca y5bfe we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cb y5bfe w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bff we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cc y5bff w3d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cd y5bff w3d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">2,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ce y5bff wcf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c00 w3d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d1 y5b31 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d2 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c01 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d3 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>9,301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d4 y5c01 w3d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _0\"></span>,854<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d5 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">89,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c02 w3d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b3b w3d7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d7 y5b3b w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d8 y5b3b w3d8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c03 w3d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w2f8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7db y5b34 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dc y5b34 w3da h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>297<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c04 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c05 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dd y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7de y5c05 wcc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7df y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c06 w3db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5c06 w3dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">281<span class=\"_ _1\"></span>,524<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e1 y5c06 w3dd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">28<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e3 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,98<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e4 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>985<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3e0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2<span class=\"_ _2\"></span>79,5<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e6 y5a16 wf5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">279,539<span class=\"_ _3bd\"> </span></div></td></tr></table>20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span><table class=\"s w3e1 h230\" id=\"_23068ccd-d8ca-46f8-ab87-86cb0b52cbbe\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5c08 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5c09 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5c0a ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5c0b ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5c0b ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5c0b ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c0d ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c0e ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c0f we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e7 y5c0f w2b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e8 y5c0f w106 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">3,<span class=\"_ _0\"></span>443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e9 y5c0f w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c10 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c00 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c00 w3e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7eb y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c01 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ee y5b32 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ef y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c11 w3e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f2 y5b33 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f3 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c12 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c13 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f4 y5c13 w2b8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3<span class=\"_ _0\"></span>,591<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f5 y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,30<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54d y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,59<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c14 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f6 y5c14 w3e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">849<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f7 y5c14 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f8 y5c14 w12a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f9 y5c15 w3e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls81 ws14c\">184,964<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fa y5c15 w3ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">18<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,97<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fd y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3ed h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fe y5a16 w3ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7ff y5a16 w3ef h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude eq<span class=\"_ _0\"></span>uitie<span class=\"_ _0\"></span>s of \u00a314 mil<span class=\"_ _0\"></span>lion, d<span class=\"_ _0\"></span>ebt se<span class=\"_ _0\"></span>curi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>979 milli<span class=\"_ _0\"></span>on, co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s of \u00a39<span class=\"_ _0\"></span>60 mil<span class=\"_ _0\"></span>lion an<span class=\"_ _0\"></span>d reins<span class=\"_ _0\"></span>urers\u2019 s<span class=\"_ _0\"></span>hare of i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment co<span class=\"_ _0\"></span>ntra<span class=\"_ _0\"></span>ct liabilities of \u00a332 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as finan<span class=\"_ _0\"></span>cial li<span class=\"_ _0\"></span>abili<span class=\"_ _0\"></span>ties he<span class=\"_ _0\"></span>ld for s<span class=\"_ _0\"></span>ale inc<span class=\"_ _0\"></span>lude inv<span class=\"_ _0\"></span>estm<span class=\"_ _0\"></span>ent co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>t liabi<span class=\"_ _0\"></span>litie<span class=\"_ _0\"></span>s of \u00a33,1<span class=\"_ _0\"></span>75 milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>2023<span class=\"_ _3bd\"> </span><table class=\"s w3f0 h231\" id=\"_c4f069a9-37a2-4895-a38f-a24c70eeb6e3\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c16 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c17 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x64a ha y5c18 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c19 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x801 ha y5c19 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y5c19 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c1b ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c1c ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c1d wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x803 y5c1d w3f1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">231<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x804 y5c1d wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x805 y5c1d w3f2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1e we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x806 y5c1e w15e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x807 y5c1e wf3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">2<span class=\"_ _0\"></span>,338<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x808 y5c1e we4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c1f w3d2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80a y5c1f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80b y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b31 w3f3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment in ass<span class=\"_ _0\"></span>ociate (se<span class=\"_ _0\"></span>e note H4.1)</div><div class=\"t m0 x80c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80d y5b31 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80e y5b31 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80f y5b31 w3f4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c20 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x810 y5c20 w3f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x811 y5c20 w3f6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79,9<span class=\"_ _0\"></span>94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x812 y5c20 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b3b w3d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5b3b w3f8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">79<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x813 y5b3b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x814 y5b3b w3f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">7<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>937<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b34 w3d9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w15e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x815 y5b34 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x816 y5b34 w3fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c21 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c22 wdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x817 y5c22 w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x818 y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5b24 w3fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x819 y5b24 w3fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b25 w3de h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2,<span class=\"_ _0\"></span>498)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81a y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2<span class=\"_ _0\"></span>,498)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3fe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81b y5a16 wf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>94<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w3ff h232\" id=\"_8f44244c-11a3-4ffa-954c-cb26e30c1c72\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c23 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c24 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c25 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x64a ha y5c26 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td class=\"t m0 x802 ha y5c27 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x81d y5c28 w400 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81c h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x801 ha y5c29 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5c28 w401 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81e h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a ha y5c2a ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c2a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c2c ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c2d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c2e we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x81f y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x820 y5c2e wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">2<span class=\"_ _0\"></span>,976<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x821 y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c2f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c30 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x822 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x823 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c31 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x824 y5c31 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x825 y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c32 w402 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">1,3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x826 y5c32 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x827 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c33 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b48 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x828 y5b48 w404 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x829 y5b48 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82a y5b48 w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b49 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82b y5b49 w405 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82c y5b49 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82d y5b49 w14a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82e y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>57<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x82f y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">173<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b43 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b43 w407 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x830 y5b43 w408 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w3ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x831 y5b4c w409 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">16<span class=\"_ _0\"></span>8,875<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x832 y5b4c w21b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude der<span class=\"_ _0\"></span>ivati<span class=\"_ _0\"></span>ves of \u00a33 mi<span class=\"_ _0\"></span>llion<span class=\"_ _0\"></span>, equi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>28 milli<span class=\"_ _0\"></span>on, de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es of \u00a31<span class=\"_ _0\"></span>,411 m<span class=\"_ _0\"></span>illion<span class=\"_ _0\"></span>, coll<span class=\"_ _0\"></span>ecti<span class=\"_ _0\"></span>ve inves<span class=\"_ _0\"></span>tment s<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>mes of \u00a31<span class=\"_ _0\"></span>,02<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n and re<span class=\"_ _0\"></span>insure<span class=\"_ _0\"></span>rs\u2019 share of investme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ontract liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> of \u00a328 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee note A<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etai<span class=\"_ _0\"></span>ls of the pr<span class=\"_ _0\"></span>ior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>4  Am<span class=\"_ _0\"></span>ounts classifie<span class=\"_ _0\"></span>d as financial liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> he<span class=\"_ _0\"></span>ld for<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ale include derivative liabilit<span class=\"_ _0\"></span>ies of<span class=\"_ _2\"></span> \u00a3<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span> millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span> an<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> inves<span class=\"_ _0\"></span>tment contrac<span class=\"_ _0\"></span>t liabilities of \u00a3<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>,780 million.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-647": {
   "value": "E1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Fair v<span class=\"_ _0\"></span>alue an<span class=\"_ _0\"></span>alysis<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>ets out a c<span class=\"_ _0\"></span>ompariso<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts and fair v<span class=\"_ _0\"></span>alues of financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments:<span class=\"_ _3bd\"> </span>20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span><table class=\"s w3cf h22f\" id=\"_7d9a10f8-3246-47ca-8eac-5f5883e08804\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5bf7 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5bf8 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5bf9 ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5bfa ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5bfa ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5bfa ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5bfb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5bfc ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"ff2 ls1 ws1\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5bfd ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bfe wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c9 y5bfe w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ca y5bfe we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cb y5bfe w18a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bff we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cc y5bff w3d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7cd y5bff w3d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">2,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ce y5bff wcf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c00 w3d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d1 y5b31 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d2 y5b31 w3d3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">96<span class=\"_ _0\"></span>,365<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c01 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d3 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>9,301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d4 y5c01 w3d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _0\"></span>,854<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d5 y5c01 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">89,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c02 w3d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d0 y5b3b w3d7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d7 y5b3b w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7d8 y5b3b w3d8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c03 w3d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w2f8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7db y5b34 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dc y5b34 w3da h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>297<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c04 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c05 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7dd y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7de y5c05 wcc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7df y5c05 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c06 w3db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5c06 w3dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">281<span class=\"_ _1\"></span>,524<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e1 y5c06 w3dd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">28<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e3 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,98<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e4 y5b25 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>985<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3e0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2<span class=\"_ _2\"></span>79,5<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7e6 y5a16 wf5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">279,539<span class=\"_ _3bd\"> </span></div></td></tr></table>20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span><table class=\"s w3e1 h230\" id=\"_23068ccd-d8ca-46f8-ab87-86cb0b52cbbe\"><tr><td></td><td></td><td class=\"t m0 x7c5 h29 y5c08 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x7c6 h29 y5c09 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s due for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 h29 y5c0a ff3 fs5 fc3 sc0 lsbe wsbe\">settlement after </td><td></td></tr><tr><td></td><td class=\"t m0 x7c5 h29 y5c0b ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y5c0b ff3 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs348\"> </span>m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c8 h29 y5c0b ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5c0c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c0d ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c0e ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c0f we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e7 y5c0f w2b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e8 y5c0f w106 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">3,<span class=\"_ _0\"></span>443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e9 y5c0f w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c10 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c00 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c00 w3e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7eb y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c00 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c01 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ee y5b32 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ef y5b32 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c11 w3e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f2 y5b33 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f3 y5b33 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c12 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c13 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f4 y5c13 w2b8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3<span class=\"_ _0\"></span>,591<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f5 y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,30<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54d y5c13 w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,59<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c14 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f6 y5c14 w3e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">849<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f7 y5c14 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f8 y5c14 w12a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f9 y5c15 w3e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls81 ws14c\">184,964<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fa y5c15 w3ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">18<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,97<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7fd y5a47 w3ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3ed h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fe y5a16 w3ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x7ff y5a16 w3ef h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude eq<span class=\"_ _0\"></span>uitie<span class=\"_ _0\"></span>s of \u00a314 mil<span class=\"_ _0\"></span>lion, d<span class=\"_ _0\"></span>ebt se<span class=\"_ _0\"></span>curi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>979 milli<span class=\"_ _0\"></span>on, co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s of \u00a39<span class=\"_ _0\"></span>60 mil<span class=\"_ _0\"></span>lion an<span class=\"_ _0\"></span>d reins<span class=\"_ _0\"></span>urers\u2019 s<span class=\"_ _0\"></span>hare of i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment co<span class=\"_ _0\"></span>ntra<span class=\"_ _0\"></span>ct liabilities of \u00a332 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as finan<span class=\"_ _0\"></span>cial li<span class=\"_ _0\"></span>abili<span class=\"_ _0\"></span>ties he<span class=\"_ _0\"></span>ld for s<span class=\"_ _0\"></span>ale inc<span class=\"_ _0\"></span>lude inv<span class=\"_ _0\"></span>estm<span class=\"_ _0\"></span>ent co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>t liabi<span class=\"_ _0\"></span>litie<span class=\"_ _0\"></span>s of \u00a33,1<span class=\"_ _0\"></span>75 milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>2023<span class=\"_ _3bd\"> </span><table class=\"s w3f0 h231\" id=\"_c4f069a9-37a2-4895-a38f-a24c70eeb6e3\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c16 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c17 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x64a ha y5c18 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c19 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x801 ha y5c19 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y5c19 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x543 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c1a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c1b ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c1c ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at fair value thro<span class=\"_ _0\"></span>ugh profit or lo<span class=\"_ _0\"></span>ss (\u2018<span class=\"_ _0\"></span>FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c1d wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x803 y5c1d w3f1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">231<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x804 y5c1d wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x805 y5c1d w3f2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1e we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x806 y5c1e w15e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x807 y5c1e wf3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">2<span class=\"_ _0\"></span>,338<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x808 y5c1e we4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c1f w3d2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities</div><div class=\"t m0 x7cf h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80a y5c1f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80b y5c1f we7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b31 w3f3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment in ass<span class=\"_ _0\"></span>ociate (se<span class=\"_ _0\"></span>e note H4.1)</div><div class=\"t m0 x80c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80d y5b31 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80e y5b31 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x80f y5b31 w3f4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c20 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x810 y5c20 w3f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x811 y5c20 w3f6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79,9<span class=\"_ _0\"></span>94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x812 y5c20 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b3b w3d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x809 y5b3b w3f8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">79<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x813 y5b3b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x814 y5b3b w3f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">7<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>937<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5b34 w3d9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies</div><div class=\"t m0 x7d9 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5b34 w15e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x815 y5b34 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x816 y5b34 w3fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c21 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ed cos<span class=\"_ _0\"></span>t:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c22 wdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x817 y5c22 w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x818 y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ec y5c22 w2c5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>otal financial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e0 y5b24 w3fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x819 y5b24 w3fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">2<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>5,444<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b25 w3de h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held for s<span class=\"_ _0\"></span>ale (see note H3<span class=\"_ _0\"></span>)</div><div class=\"t m0 x7e2 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2,<span class=\"_ _0\"></span>498)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81a y5b25 w3fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(2<span class=\"_ _0\"></span>,498)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3df h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> less financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> clas<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>fie<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7e5 y5a16 w3fe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x81b y5a16 wf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>94<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w3ff h232\" id=\"_8f44244c-11a3-4ffa-954c-cb26e30c1c72\"><tr><td></td><td></td><td class=\"t m0 x800 ha y5c23 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x557 ha y5c24 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts d<span class=\"_ _0\"></span>ue for </td><td></td></tr><tr><td></td><td class=\"t m0 x800 ha y5c25 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x64a ha y5c26 ff2 fs5 fc3 sc0 ls4d wsbf\">settlement a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ter<span class=\"_ _2\"></span> </td><td class=\"t m0 x802 ha y5c27 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x81d y5c28 w400 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81c h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x801 ha y5c29 ff2 fs5 fc3 sc0 ls1 ws1\">12<span class=\"_ gs1f7\"> </span>mo<span class=\"_ _0\"></span>nths<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5c28 w401 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x81e h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a ha y5c2a ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5c2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c2a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c2c ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c2d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c2e we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x81f y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x820 y5c2e wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">2<span class=\"_ _0\"></span>,976<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x821 y5c2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c2f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c30 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ea y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x822 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x823 y5c30 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c31 w3e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders</div><div class=\"t m0 x7ed h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7da y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x824 y5c31 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x825 y5c31 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c32 w402 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es</div><div class=\"t m0 x7f0 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">1,3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f1 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x826 y5c32 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x827 y5c32 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c33 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b48 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x828 y5b48 w404 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x829 y5b48 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82a y5b48 w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b49 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82b y5b49 w405 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82c y5b49 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82d y5b49 w14a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 w3e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x82e y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>57<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x82f y5c34 w406 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">173<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b43 w3eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as financi<span class=\"_ _0\"></span>al liabilities h<span class=\"_ _0\"></span>eld for sale (se<span class=\"_ _0\"></span>e note H3)</div><div class=\"t m0 x7fb h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7fc y5b43 w407 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x830 y5b43 w408 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>82<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w3ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> less financial liabilities held<span class=\"_ _2\"></span> for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x831 y5b4c w409 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">16<span class=\"_ _0\"></span>8,875<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x832 y5b4c w21b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s have no s<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>ified s<span class=\"_ _0\"></span>ettl<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t date.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>ude der<span class=\"_ _0\"></span>ivati<span class=\"_ _0\"></span>ves of \u00a33 mi<span class=\"_ _0\"></span>llion<span class=\"_ _0\"></span>, equi<span class=\"_ _0\"></span>ties of \u00a3<span class=\"_ _0\"></span>28 milli<span class=\"_ _0\"></span>on, de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es of \u00a31<span class=\"_ _0\"></span>,411 m<span class=\"_ _0\"></span>illion<span class=\"_ _0\"></span>, coll<span class=\"_ _0\"></span>ecti<span class=\"_ _0\"></span>ve inves<span class=\"_ _0\"></span>tment s<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>mes of \u00a31<span class=\"_ _0\"></span>,02<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n and re<span class=\"_ _0\"></span>insure<span class=\"_ _0\"></span>rs\u2019 share of investme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ontract liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> of \u00a328 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee note A<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etai<span class=\"_ _0\"></span>ls of the pr<span class=\"_ _0\"></span>ior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>4  Am<span class=\"_ _0\"></span>ounts classifie<span class=\"_ _0\"></span>d as financial liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> he<span class=\"_ _0\"></span>ld for<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ale include derivative liabilit<span class=\"_ _0\"></span>ies of<span class=\"_ _2\"></span> \u00a3<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span> millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span> an<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> inves<span class=\"_ _0\"></span>tment contrac<span class=\"_ _0\"></span>t liabilities of \u00a3<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>,780 million.<span class=\"_ _3bd\"> </span>E2. Fair v<span class=\"_ _2\"></span>alue hierarchy<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.1 Determ<span class=\"_ _0\"></span>inati<span class=\"_ _0\"></span>on of fair va<span class=\"_ _0\"></span>lue and f<span class=\"_ _0\"></span>air valu<span class=\"_ _0\"></span>e hiera<span class=\"_ _0\"></span>rchy of fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l inst<span class=\"_ _0\"></span>rument<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Level 1<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents tra<span class=\"_ _0\"></span>ded in ac<span class=\"_ _0\"></span>tive markets (such as e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>hange tr<span class=\"_ _0\"></span>aded se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s and derivative<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) is b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n quoted market price<span class=\"_ _0\"></span>s at the peri<span class=\"_ _0\"></span>od end provid<span class=\"_ _0\"></span>ed by reco<span class=\"_ _0\"></span>gnised p<span class=\"_ _0\"></span>ricing ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. Market depth a<span class=\"_ _0\"></span>nd bid-as<span class=\"_ _0\"></span>k spreads a<span class=\"_ _0\"></span>re used to cor<span class=\"_ _0\"></span>roborate whe<span class=\"_ _0\"></span>ther an ac<span class=\"_ _0\"></span>tive market exis<span class=\"_ _0\"></span>ts for an ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. Greater dept<span class=\"_ _0\"></span>h and narrower b<span class=\"_ _0\"></span>id-ask spre<span class=\"_ _0\"></span>ad indic<span class=\"_ _0\"></span>ate higher liqui<span class=\"_ _0\"></span>dity in th<span class=\"_ _0\"></span>e instrum<span class=\"_ _0\"></span>ent and are cla<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 1 input<span class=\"_ _0\"></span>s. For coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes an<span class=\"_ _0\"></span>d reinsurer<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 s<span class=\"_ _0\"></span>hare of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities<span class=\"_ _0\"></span>, fair value is by refe<span class=\"_ _0\"></span>rence to publi<span class=\"_ _0\"></span>shed bid pr<span class=\"_ _0\"></span>ices.<span class=\"_ _3bd\"> </span>Level 2<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s traded in a<span class=\"_ _0\"></span>ctive markets wi<span class=\"_ _0\"></span>th less de<span class=\"_ _0\"></span>pth, or wide<span class=\"_ _0\"></span>r bid-ask sp<span class=\"_ _0\"></span>reads<span class=\"_ _0\"></span>, which do not m<span class=\"_ _0\"></span>eet the cla<span class=\"_ _0\"></span>ssific<span class=\"_ _0\"></span>ation as Level 1 input<span class=\"_ _0\"></span>s, are<span class=\"_ gs47\"> </span>cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s Lev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 2. The fair val<span class=\"_ _0\"></span>ues of financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents not tr<span class=\"_ _0\"></span>aded in ac<span class=\"_ _0\"></span>tive markets are dete<span class=\"_ _0\"></span>rmined usin<span class=\"_ _0\"></span>g broker quotes or valu<span class=\"_ _0\"></span>ation tech<span class=\"_ _0\"></span>niques with ob<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>vable market input<span class=\"_ _0\"></span>s. Fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s valued us<span class=\"_ _0\"></span>ing broker quotes are cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as Level 2, only wh<span class=\"_ _0\"></span>ere there is a suf<span class=\"_ _0\"></span>ficient ran<span class=\"_ _0\"></span>ge of available qu<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s. The fa<span class=\"_ _0\"></span>ir value of over-the-<span class=\"_ _0\"></span>counter deri<span class=\"_ _0\"></span>vatives is es<span class=\"_ _0\"></span>timated usin<span class=\"_ _0\"></span>g pricing mo<span class=\"_ _0\"></span>dels or disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flow tech<span class=\"_ _0\"></span>niques<span class=\"_ _0\"></span>. Collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es where the un<span class=\"_ _0\"></span>derlying a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are not price<span class=\"_ _0\"></span>d using ac<span class=\"_ _0\"></span>tive market prices a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d to be Level 2 ins<span class=\"_ _0\"></span>truments a<span class=\"_ _0\"></span>nd will includ<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s which have a mate<span class=\"_ _0\"></span>rial underl<span class=\"_ _0\"></span>ying holding<span class=\"_ _0\"></span>s within real e<span class=\"_ _0\"></span>state/<span class=\"_ _2\"></span>pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty. Where pric<span class=\"_ _0\"></span>ing mod<span class=\"_ _0\"></span>els are use<span class=\"_ _0\"></span>d, input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on market related d<span class=\"_ _0\"></span>ata at the pe<span class=\"_ _0\"></span>riod end. W<span class=\"_ _0\"></span>here disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flows are<span class=\"_ gs47\"> </span>use<span class=\"_ _0\"></span>d, es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s are bas<span class=\"_ _0\"></span>ed on man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent\u2019s bes<span class=\"_ _0\"></span>t estimate<span class=\"_ _0\"></span>s and the disc<span class=\"_ _0\"></span>ount rate use<span class=\"_ _0\"></span>d is a market relate<span class=\"_ _0\"></span>d rate for<span class=\"_ gs47\"> </span>a<span class=\"_ gs47\"> </span>similar ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es reflec<span class=\"_ _0\"></span>ts the fair va<span class=\"_ _0\"></span>lue of the underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities in the fun<span class=\"_ _0\"></span>ds plus an ad<span class=\"_ _0\"></span>ditional am<span class=\"_ _0\"></span>ount to cover the pre<span class=\"_ _0\"></span>sent value of the exce<span class=\"_ _0\"></span>ss of future p<span class=\"_ _0\"></span>olicy cos<span class=\"_ _0\"></span>ts over fut<span class=\"_ _0\"></span>ure charge<span class=\"_ _0\"></span>s. The liab<span class=\"_ _0\"></span>ilities are con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>ntly determine<span class=\"_ _0\"></span>d to be Level 2 inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Level 3<span class=\"_ _2\"></span> fina<span class=\"_ _0\"></span>ncial instruments<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y va<span class=\"_ _0\"></span>luation tec<span class=\"_ _0\"></span>hniques usin<span class=\"_ _0\"></span>g non-ob<span class=\"_ _0\"></span>serv<span class=\"_ _0\"></span>able market input<span class=\"_ _0\"></span>s are base<span class=\"_ _0\"></span>d on a combin<span class=\"_ _0\"></span>ation of<span class=\"_ gs47\"> </span>indep<span class=\"_ _0\"></span>endent third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce and intern<span class=\"_ _0\"></span>ally develope<span class=\"_ _0\"></span>d mode<span class=\"_ _0\"></span>ls. In rela<span class=\"_ _0\"></span>tion to investme<span class=\"_ _0\"></span>nts in hed<span class=\"_ _0\"></span>ge funds an<span class=\"_ _0\"></span>d private equit<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, non-<span class=\"_ _0\"></span>obser<span class=\"_ _0\"></span>vable third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y eviden<span class=\"_ _0\"></span>ce in the form of net as<span class=\"_ _0\"></span>set valua<span class=\"_ _0\"></span>tion state<span class=\"_ _0\"></span>ments is us<span class=\"_ _0\"></span>ed as the b<span class=\"_ _0\"></span>asis for the valu<span class=\"_ _0\"></span>ation. Adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts may be ma<span class=\"_ _0\"></span>de to the net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>uation where oth<span class=\"_ _0\"></span>er eviden<span class=\"_ _0\"></span>ce, for exampl<span class=\"_ _0\"></span>e recent s<span class=\"_ _0\"></span>ales of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments in the<span class=\"_ gs47\"> </span>f<span class=\"_ _0\"></span>und, indic<span class=\"_ _0\"></span>ates this is re<span class=\"_ _0\"></span>quired. Se<span class=\"_ _0\"></span>curities th<span class=\"_ _0\"></span>at are valued u<span class=\"_ _0\"></span>sing broker quotes whic<span class=\"_ _0\"></span>h could not b<span class=\"_ _0\"></span>e corrobor<span class=\"_ _0\"></span>ated acros<span class=\"_ _0\"></span>s a suf<span class=\"_ _0\"></span>ficient rang<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>of quotes are con<span class=\"_ _0\"></span>sidered a<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>eve<span class=\"_ _0\"></span>l 3. For<span class=\"_ gs47\"> </span>a small n<span class=\"_ _0\"></span>umber of invest<span class=\"_ _0\"></span>ment vehicle<span class=\"_ _0\"></span>s and debt se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, st<span class=\"_ _0\"></span>andard valu<span class=\"_ _0\"></span>ation mode<span class=\"_ _0\"></span>ls are used<span class=\"_ _0\"></span>, as due to their n<span class=\"_ _0\"></span>ature and co<span class=\"_ _0\"></span>mplexit<span class=\"_ _0\"></span>y they have no ex<span class=\"_ _0\"></span>ternal m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>. Input<span class=\"_ _0\"></span>s into such mod<span class=\"_ _0\"></span>els are bas<span class=\"_ _0\"></span>ed on obse<span class=\"_ _0\"></span>rvabl<span class=\"_ _0\"></span>e market data where p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e. The fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f lo<span class=\"_ _0\"></span>ans, d<span class=\"_ _0\"></span>erivatives an<span class=\"_ _0\"></span>d som<span class=\"_ _0\"></span>e borrowing<span class=\"_ _0\"></span>s with no ex<span class=\"_ _0\"></span>ternal market is dete<span class=\"_ _0\"></span>rmined by intern<span class=\"_ _0\"></span>ally develop<span class=\"_ _0\"></span>ed disco<span class=\"_ _0\"></span>unted cas<span class=\"_ _0\"></span>h flow model<span class=\"_ _0\"></span>s using approp<span class=\"_ _0\"></span>riate assum<span class=\"_ _0\"></span>ptions corro<span class=\"_ _0\"></span>borated wi<span class=\"_ _0\"></span>th extern<span class=\"_ _0\"></span>al market data whe<span class=\"_ _0\"></span>re possib<span class=\"_ _0\"></span>le.<span class=\"_ _3bd\"> </span>For finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments th<span class=\"_ _0\"></span>at are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t fair value on a re<span class=\"_ _0\"></span>curring bas<span class=\"_ _0\"></span>is, the G<span class=\"_ _0\"></span>roup determine<span class=\"_ _0\"></span>s whether t<span class=\"_ _0\"></span>ransfer<span class=\"_ _0\"></span>s have occurre<span class=\"_ _0\"></span>d bet<span class=\"_ _0\"></span>ween levels in th<span class=\"_ _0\"></span>e hierarchy by rea<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing cate<span class=\"_ _0\"></span>gorisa<span class=\"_ _0\"></span>tion (base<span class=\"_ _0\"></span>d on the lowes<span class=\"_ _0\"></span>t level input th<span class=\"_ _0\"></span>at is signific<span class=\"_ _0\"></span>ant to the fair valu<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment as a who<span class=\"_ _0\"></span>le<span class=\"_ _2\"></span>) during e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting p<span class=\"_ _0\"></span>eriod.<span class=\"_ _3bd\"> </span>Fair value hi<span class=\"_ _0\"></span>erarchy informatio<span class=\"_ _0\"></span>n for non-fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value is incl<span class=\"_ _0\"></span>uded in note G3 for own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y and in note G<span class=\"_ _0\"></span>4 for investm<span class=\"_ _0\"></span>ent prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. E2<span class=\"_ _0\"></span>.2 Fai<span class=\"_ _0\"></span>r value hie<span class=\"_ _0\"></span>rarc<span class=\"_ _0\"></span>hy of finan<span class=\"_ _0\"></span>cial in<span class=\"_ _0\"></span>strum<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>ables be<span class=\"_ _0\"></span>low separa<span class=\"_ _0\"></span>tely identif<span class=\"_ _0\"></span>y financ<span class=\"_ _0\"></span>ial instr<span class=\"_ _0\"></span>uments c<span class=\"_ _0\"></span>arried at fair va<span class=\"_ _0\"></span>lue from thos<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>d on anothe<span class=\"_ _0\"></span>r basis but for w<span class=\"_ _0\"></span>hich fair value<span class=\"_ gs47\"> </span>is d<span class=\"_ _0\"></span>isclose<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w418 h234\" id=\"_fc2ac4d2-43a2-468d-8dbd-a69af0e85559\"><tr><td></td><td class=\"t m0 x59b h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x83c h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b h29 y5c3e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x83d h29 y5c3e ff3 fs5 fc3 sc0 ls65 wsc0\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x57d h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5c3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c40 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c41 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets at F<span class=\"_ _0\"></span>VTPL (ma<span class=\"_ _0\"></span>ndator<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c42 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83e y5c42 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83f y5c42 w39f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x840 y5c42 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x841 y5c42 wca h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c43 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x842 y5c43 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x843 y5c43 w419 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x844 y5c43 w41a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x845 y5c43 w41b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c44 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x846 y5c44 w41c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">9<span class=\"_ _0\"></span>3,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x847 y5c44 wd7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x848 y5c44 w41d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">2,<span class=\"_ _0\"></span>576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x849 y5c44 w5e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">9<span class=\"_ _0\"></span>6,365<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c45 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84a y5c45 w86 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">49<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>624<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84b y5c45 w1eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>531<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84c y5c45 w41e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84d y5c45 w3d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">89,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c46 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84e y5c46 w55 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">79<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84f y5c46 w41f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3,29<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x850 y5c46 w266 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x851 y5c46 w3d7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">8<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c47 wf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x852 y5c47 w420 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x853 y5c47 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x854 y5c47 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x855 y5c47 w2f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 w421 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x856 y5c48 w3ac h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">232<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x857 y5c48 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">3<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>474<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x23f y5c48 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x858 y5c48 w423 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">281<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>512<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c13 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85a y5afa w425 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85b y5afa w2e3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(1<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85c y5afa w426 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(555<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85d y5afa w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>985)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 w427 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value, exclu<span class=\"_ _0\"></span>ding amount<span class=\"_ _0\"></span>s class<span class=\"_ _0\"></span>ified as he<span class=\"_ _0\"></span>ld for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85e y5c49 w428 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>381<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85f y5c49 w429 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">3<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x860 y5c49 w42a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">17,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x861 y5c49 w42b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>527<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c4a ff3 fs6 fc3 sc0 ls1 ws1\">Fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at am<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>sed co<span class=\"_ _0\"></span>st for whic<span class=\"_ _0\"></span>h fair value<span class=\"_ _0\"></span>s are disc<span class=\"_ _0\"></span>losed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c4b wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x862 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x863 y5c4b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x864 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x865 y5c4b w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x866 y5a16 w42c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>38<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x867 y5a16 w42d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">30<span class=\"_ _0\"></span>,339<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x868 y5a16 w42e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x869 y5a16 wf5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">279,539<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Amo<span class=\"_ _0\"></span>unts cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a314 m<span class=\"_ _0\"></span>illion of e<span class=\"_ _0\"></span>quiti<span class=\"_ _0\"></span>es (Lev<span class=\"_ _0\"></span>el 1), \u00a33<span class=\"_ _0\"></span>2 millio<span class=\"_ _0\"></span>n of reins<span class=\"_ _0\"></span>urer<span class=\"_ _0\"></span>s\u2019 share o<span class=\"_ _0\"></span>f invest<span class=\"_ _0\"></span>ment c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>ct lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es (Leve<span class=\"_ _0\"></span>l 1), \u00a39<span class=\"_ _0\"></span>60 m<span class=\"_ _0\"></span>illion of c<span class=\"_ _0\"></span>olle<span class=\"_ _0\"></span>ctive i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>es (\u00a3<span class=\"_ _0\"></span>956 m<span class=\"_ _0\"></span>illion L<span class=\"_ _0\"></span>evel 1 an<span class=\"_ _0\"></span>d \u00a3<span class=\"_ _2\"></span>4 m<span class=\"_ _0\"></span>illion Le<span class=\"_ _0\"></span>vel 2) an<span class=\"_ _0\"></span>d \u00a3979 mi<span class=\"_ _0\"></span>llion of de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es (\u00a3<span class=\"_ _0\"></span>281 mil<span class=\"_ _0\"></span>lion Leve<span class=\"_ _0\"></span>l 1; \u00a314<span class=\"_ _0\"></span>3 milli<span class=\"_ _0\"></span>on Level 2<span class=\"_ _0\"></span>; and \u00a35<span class=\"_ _0\"></span>55 mill<span class=\"_ _0\"></span>ion Leve<span class=\"_ _0\"></span>l 3)<span class=\"_ _3bd\"> <span class=\"_ _3bd\"> <span class=\"_ _3bd\"> </span></span></span><table class=\"s w42f h235\" id=\"_9d8be71c-9025-4f6e-b115-8f4488a02b6f\"><tr><td></td><td class=\"t m0 x495 h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86a h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b h29 y5c4c ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86c h29 y5c4c ff3 fs5 fc3 sc0 ls65 wsc0\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5c4d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5c4d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5c4e ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5c4f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s at FV<span class=\"_ _0\"></span>TPL (mandato<span class=\"_ _0\"></span>ry)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c50 we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86d y5c50 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86e y5c50 w16b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">3,882<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x86f y5c50 w179 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x870 y5c50 w355 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5c51 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial<span class=\"_ gs47\"> </span>reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c52 w142 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x871 y5c52 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x872 y5c52 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x873 y5c52 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x874 y5c52 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c53 w430 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x875 y5c53 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x876 y5c53 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x877 y5c53 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x878 y5c53 w431 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,<span class=\"_ _0\"></span>486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c54 w432 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x879 y5c54 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87a y5c54 w3e6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87b y5c54 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87c y5c54 w433 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x87d y5c55 w147 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87e y5c55 w434 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>92<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x87f y5c55 w267 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x880 y5c55 w3e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">176<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c56 w435 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x881 y5c56 w436 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">2<span class=\"_ _0\"></span>,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x882 y5c56 w437 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x883 y5c56 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">164<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x884 y5c56 w438 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">180,52<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c57 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x885 y5c57 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x886 y5c57 w43a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x887 y5c57 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x888 y5c57 w3ec h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c58 w43b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e, excluding am<span class=\"_ _0\"></span>ounts cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x889 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88a y5a27 w16b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88b y5a27 w43c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">174<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88c y5a27 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88d y5a27 w162 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5c59 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at amortised cost for which fai<span class=\"_ _2\"></span>r values are disclosed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c5a w142 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88e y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x88f y5c5a w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,<span class=\"_ _0\"></span>599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x890 y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x891 y5c5a w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,59<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c5b w149 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x892 y5c5b we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x893 y5c5b w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x894 y5c5b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x895 y5c5b w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a8f w43d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost for wh<span class=\"_ _0\"></span>ich fair value<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x896 y5a8f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x897 y5a8f w144 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,4<span class=\"_ _0\"></span>48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x898 y5a8f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d2 y5a8f w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,<span class=\"_ _0\"></span>448<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x88a y5a16 w16b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">2,556<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x899 y5a16 w434 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x89a y5a16 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x89b y5a16 wa3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Amo<span class=\"_ _0\"></span>unts cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a33<span class=\"_ _0\"></span>,175 mill<span class=\"_ _0\"></span>ion of inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nt cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabil<span class=\"_ _0\"></span>ities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w43e h236\" id=\"_28733018-a838-4c80-9471-398bfeb0df1c\"><tr><td></td><td class=\"t m0 x89c ha y5c5c ff2 fs5 fc3 sc0 ls14a ws138\">Level 1<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x89d ha y5c5c ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td class=\"c x89f y5c5d w43f h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x89e h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x8a1 y5c5d w440 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x8a0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x737 ha y5c5e ff2 fs5 fc3 sc0 ls14a ws138\">Level 3<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x8a2 ha y5c5e ff2 fs5 fc3 sc0 ls11 ws11\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5c5f ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c5f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c60 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c61 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets at F<span class=\"_ _0\"></span>VTPL (ma<span class=\"_ _0\"></span>ndator<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a66 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83e y5a66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a3 y5a66 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a4 y5a66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a5 y5a66 w441 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">231<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c62 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x842 y5c62 w103 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">139<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a6 y5c62 w442 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">2<span class=\"_ _0\"></span>,398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a7 y5c62 w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a8 y5c62 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c63 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x846 y5c63 we6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">85,0<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a9 y5c63 wd2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">132<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8aa y5c63 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ab y5c63 we7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">8<span class=\"_ _1\"></span>7,<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bf2 we8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment in ass<span class=\"_ _0\"></span>ociate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ac y5bf2 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ad y5bf2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ae y5bf2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x566 y5bf2 w12b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">3<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5bf3 w443 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 x8af h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b0 y5bf3 w444 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b1 y5bf3 w445 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b2 y5bf3 w446 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">13<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b3 y5bf3 w2e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _1\"></span>4,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c64 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x84e y5c64 w447 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">76<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b4 y5c64 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,1<span class=\"_ _0\"></span>93<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b5 y5c64 w334 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">4<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b6 y5c64 w3f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">79<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c65 wf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabilit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b7 y5c65 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b8 y5c65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8b9 y5c65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ba y5c65 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w448 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bb y5bd8 w449 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">223,<span class=\"_ _0\"></span>558<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bc y5bd8 w44a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34,923<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bd y5bd8 w44b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>,94<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8be y5bd8 w44c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">275<span class=\"_ _0\"></span>,427<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5bd9 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85a y5bd9 w328 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,639)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8bf y5bd9 w44d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(1<span class=\"_ _0\"></span>81)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c0 y5bd9 w30e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(678)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c1 y5bd9 w3fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>2,498)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w427 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value, exclu<span class=\"_ _0\"></span>ding amount<span class=\"_ _0\"></span>s class<span class=\"_ _0\"></span>ified as he<span class=\"_ _0\"></span>ld for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85e y5c66 w44e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c2 y5c66 w44f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c3 y5c66 w450 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">16<span class=\"_ _0\"></span>,268<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c4 y5c66 w451 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c67 ff3 fs6 fc3 sc0 ls1 ws1\">Fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s meas<span class=\"_ _0\"></span>ured at am<span class=\"_ _0\"></span>orti<span class=\"_ _0\"></span>sed co<span class=\"_ _0\"></span>st for whic<span class=\"_ _0\"></span>h fair value<span class=\"_ _0\"></span>s are disc<span class=\"_ _0\"></span>losed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b25 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x862 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c5 y5b25 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c6 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c7 y5b25 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8c8 y5a16 w44e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">221<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>91<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c9 y5a16 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ca y5a16 w2e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">16<span class=\"_ _0\"></span>,26<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cb y5a16 wf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">272<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>L<span class=\"_ _0\"></span>evel 1 an<span class=\"_ _0\"></span>d Level 2 de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es have b<span class=\"_ _0\"></span>een re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d to cor<span class=\"_ _0\"></span>rect<span class=\"_ _0\"></span>ly refle<span class=\"_ _0\"></span>ct \u00a36<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>69 mil<span class=\"_ _0\"></span>lion of de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es with<span class=\"_ _0\"></span>in Level 1 in<span class=\"_ _0\"></span>stea<span class=\"_ _0\"></span>d of Level 2 a<span class=\"_ _0\"></span>s previ<span class=\"_ _0\"></span>ousl<span class=\"_ _0\"></span>y repor<span class=\"_ _0\"></span>ted<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>udes \u00a3<span class=\"_ _0\"></span>28 milli<span class=\"_ _0\"></span>on of equ<span class=\"_ _0\"></span>ities (<span class=\"_ _0\"></span>Level 1)<span class=\"_ _0\"></span>, \u00a33 milli<span class=\"_ _0\"></span>on of der<span class=\"_ _0\"></span>ivativ<span class=\"_ _0\"></span>es (Leve<span class=\"_ _0\"></span>l 2), \u00a32<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n of reins<span class=\"_ _0\"></span>urers<span class=\"_ _0\"></span>\u2019 share of i<span class=\"_ _0\"></span>nvest<span class=\"_ _0\"></span>ment c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>ct liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s (Leve<span class=\"_ _0\"></span>l 1), \u00a31<span class=\"_ _0\"></span>,028 m<span class=\"_ _0\"></span>illion of<span class=\"_ gs1f7\"> </span>co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nt sch<span class=\"_ _0\"></span>emes (<span class=\"_ _0\"></span>\u00a39<span class=\"_ _0\"></span>96 mi<span class=\"_ _0\"></span>llion Lev<span class=\"_ _0\"></span>el 1; \u00a32<span class=\"_ _0\"></span>8 milli<span class=\"_ _0\"></span>on Level 2<span class=\"_ _0\"></span>; and \u00a34 milli<span class=\"_ _0\"></span>on Level 3<span class=\"_ _0\"></span>) and \u00a3<span class=\"_ _0\"></span>1,41<span class=\"_ _0\"></span>1 millio<span class=\"_ _0\"></span>n of debt s<span class=\"_ _0\"></span>ecur<span class=\"_ _0\"></span>ities (<span class=\"_ _0\"></span>\u00a3587 m<span class=\"_ _0\"></span>illion Le<span class=\"_ _0\"></span>vel 1; \u00a3<span class=\"_ _0\"></span>150 mi<span class=\"_ _0\"></span>llion Lev<span class=\"_ _0\"></span>el 2; an<span class=\"_ _0\"></span>d \u00a3674 millio<span class=\"_ _0\"></span>n Level 3<span class=\"_ _0\"></span>).<span class=\"_ _3bd\"> </span><table class=\"s w452 h237\" id=\"_fd1ba1e1-d03b-4bf0-af07-208b6aea1322\"><tr><td></td><td></td><td class=\"t m0 x89d ha y5c68 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x8a2 ha y5c68 ff2 fs5 fc3 sc0 ls11 ws11\">T<span class=\"_ _2\"></span>otal fair value<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x89c ha y5c69 ff2 fs5 fc3 sc0 ls14a ws138\">Level 1<span class=\"_ _3bd\"> </span></td><td class=\"c x8a1 y5c6a w440 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x8a0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x737 ha y5c69 ff2 fs5 fc3 sc0 ls14a ws138\">Level 3<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y5c6a w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a ha y5c6b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5c6b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5c6c ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5c6d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s FV<span class=\"_ _0\"></span>TPL (mandator<span class=\"_ _0\"></span>y)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c6e we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cc y5c6e w47 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">152<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cd y5c6e w453 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,9<span class=\"_ _0\"></span>86<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ce y5c6e w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8cf y5c6e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>344<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5c6f ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upo<span class=\"_ _0\"></span>n initial<span class=\"_ gs47\"> </span>reco<span class=\"_ _0\"></span>gnition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c70 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d0 y5c70 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d1 y5c70 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d2 y5c70 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d3 y5c70 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c71 w430 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d4 y5c71 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d5 y5c71 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d6 y5c71 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d7 y5c71 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5c72 w454 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es (restate<span class=\"_ _0\"></span>d)</div><div class=\"t m0 x8d8 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x43d y5b54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d9 y5b54 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8da y5b54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2da y5b54 w455 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8db y5bf3 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8dc y5bf3 w455 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8dd y5bf3 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8de y5bf3 w456 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">16<span class=\"_ _0\"></span>5,4<span class=\"_ _0\"></span>61<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf4 w435 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8df y5bf4 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,07<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e0 y5bf4 w457 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">165,48<span class=\"_ _2\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e1 y5bf4 w458 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e2 y5bf4 w403 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">168,<span class=\"_ _0\"></span>805<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c73 w424 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale</div><div class=\"t m0 x859 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x43d y5c73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e3 y5c73 w459 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d0 y5c73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e4 y5c73 w459 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c74 w45a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e, excluding am<span class=\"_ _0\"></span>ounts cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e5 y5c74 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>073<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e6 y5c74 w45b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">1<span class=\"_ _2\"></span>6<span class=\"_ _0\"></span>0,699<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e7 y5c74 w45c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e8 y5c74 w45d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>64,<span class=\"_ _0\"></span>023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5c75 ff3 fs6 fc3 sc0 ls37 ws1\">Fina<span class=\"_ _0\"></span>ncial li<span class=\"_ _0\"></span>abilities m<span class=\"_ _0\"></span>easur<span class=\"_ _0\"></span>ed at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cost fo<span class=\"_ _0\"></span>r which fair va<span class=\"_ _0\"></span>lues are di<span class=\"_ _0\"></span>sclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a45 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8d0 y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8e9 y5a45 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ea y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8eb y5a45 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,73<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a46 w149 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ec y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ed y5a46 w45e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ee y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ef y5a46 w45f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w43d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost for wh<span class=\"_ _0\"></span>ich fair value<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f0 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f1 y5a47 w460 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">4<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f2 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f3 y5a47 w461 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">4<span class=\"_ _0\"></span>,74<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x8db y5a16 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,07<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f4 y5a16 w462 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">165,443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f5 y5a16 w45c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f6 y5a16 w463 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as hel<span class=\"_ _0\"></span>d for sal<span class=\"_ _0\"></span>e incl<span class=\"_ _0\"></span>udes \u00a34<span class=\"_ _0\"></span>,780 mi<span class=\"_ _0\"></span>llion of in<span class=\"_ _0\"></span>vestm<span class=\"_ _0\"></span>ent co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>t liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s and \u00a32 m<span class=\"_ _0\"></span>illion o<span class=\"_ _0\"></span>f deriv<span class=\"_ _0\"></span>atives<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>ignifi<span class=\"_ _0\"></span>cant in<span class=\"_ _0\"></span>puts an<span class=\"_ _0\"></span>d input va<span class=\"_ _0\"></span>lues for L<span class=\"_ _0\"></span>evel 3 finan<span class=\"_ _0\"></span>cial in<span class=\"_ _0\"></span>stru<span class=\"_ _0\"></span>ments<span class=\"_ _3bd\"> </span><table class=\"s w464 h238\" id=\"_7465f847-a60c-4d6f-9d7c-39751859ec23\"><tr><td></td><td></td><td></td><td class=\"t m0 x2f6 ha y5c76 ff2 fs5 fc3 sc0 ls11 ws11\">Key<span class=\"_ _2\"></span> unobse<span class=\"_ _0\"></span>rvable input<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c77 w21e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Desc<span class=\"_ _0\"></span>ription<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f7 y5c77 w465 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">V<span class=\"_ _2\"></span>aluation technique<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8f8 y5c77 w466 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">Significant inputs<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x8f9 y5c77 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fa y5c77 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c78 w469 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fb y5c78 w46a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fc y5c78 w46b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Net a<span class=\"_ _0\"></span>sset s<span class=\"_ _0\"></span>tatement<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x8fd y5c78 w46c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">\u00a32,<span class=\"_ _0\"></span>576m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8fe y5c78 w46d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">\u00a3<span class=\"_ _0\"></span>2,495m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5c79 ff3 fs6 fc3 sc0 ls1 ws1\">Deb<span class=\"_ _0\"></span>t secur<span class=\"_ _0\"></span>ities (see E2<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 fo<span class=\"_ _0\"></span>r furth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils)<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5c7a ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit  </td><td class=\"c x900 y5c7b w46e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x8ff h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c7b w46f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x902 y5c7b w470 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">79<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x2f8 hc y5c7c ff2 fs6 fc3 sc0 ls74 ws1e5\">78b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5c7d ff2 fs6 fc3 sc0 ls11 ws11\">agencies &amp;<span class=\"_ _2\"></span> supranati<span class=\"_ _2\"></span>onals<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x903 h23 y5c7e ff3 fs6 fc3 sc0 ls37 ws1\">(weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c7e ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c7f w471 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Private corporate credit<span class=\"_ _3bd\"> </span></div></td><td class=\"c x905 y5c7f w472 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DCF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x904 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c7f w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c7f w473 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">134b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c80 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">145b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c81 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c81 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c82 w2b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90a y5c82 w474 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x909 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c83 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c83 w475 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">146<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c84 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>0b<span class=\"_ _0\"></span>ps</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c85 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c85 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c86 w476 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90c y5c86 w477 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F mode<span class=\"_ _0\"></span>l</div><div class=\"t m0 x90b h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c86 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c86 w475 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">140<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c87 ff2 fs6 fc3 sc0 ls8e ws87\">139<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c88 ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c88 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c89 w478 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x90e y5c89 w479 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mode<span class=\"_ _0\"></span>l</div><div class=\"t m0 x90d h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c89 w46f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x906 y5c89 w47a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">118<span class=\"_ _0\"></span>bp<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5c8a ff2 fs6 fc3 sc0 ls6c ws1ca\">130b<span class=\"_ _0\"></span>ps</td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5c8b ff3 fs6 fc3 sc0 ls37 ws1\"> (weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3aa hc y5c8b ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5c8c w47b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Mor<span class=\"_ _0\"></span>tgage l<span class=\"_ _0\"></span>oans (\u2018<span class=\"_ _0\"></span>ERM<span class=\"_ _0\"></span>\u2019)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x90f y5c8c w47c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">D<span class=\"_ _0\"></span>CF mode<span class=\"_ _0\"></span>l and<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x910 y5c8c w47d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Spread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x911 y5c8c w47e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">15<span class=\"_ _2\"></span>9<span class=\"_ _0\"></span>bps over Son<span class=\"_ _0\"></span>ia plus</div></td><td class=\"t m0 x912 hc y5c8d ff2 fs6 fc3 sc0 ls17f ws1\">2<span class=\"_ _2\"></span>56bps over S<span class=\"_ _0\"></span>onia plus </td></tr><tr><td></td><td class=\"t m0 x2dc hc y5c8e ff2 fs6 fc3 sc0 ls1 ws1\">Black-<span class=\"_ _2\"></span>S<span class=\"_ _0\"></span>choles </td><td></td><td></td><td class=\"t m0 x913 h23 y5c8f ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x914 hc y5c8f ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c x915 y5c90 w47f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">model</div><div class=\"t m0 x8a0 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x48f hc y5c91 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ice </td><td></td><td class=\"t m0 x916 h23 y5c91 ff3 fs6 fc3 sc0 ls37 ws1\">+<span class=\"_ _3\"></span>75bps ad<span class=\"_ _0\"></span>just<span class=\"_ _0\"></span>ment to </td><td class=\"t m0 x917 hc y5c91 ff2 fs6 fc3 sc0 ls17f ws1\">+<span class=\"_ _3\"></span>75bps adju<span class=\"_ _0\"></span>stment to R<span class=\"_ _0\"></span>PI<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x918 hc y5c92 ff2 fs6 fc3 sc0 ls56 ws53\">inflation<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x919 h23 y5c92 ff3 fs6 fc3 sc0 ls1 ws1\">RPI<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"c n x91a y5c93 w480 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ices<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x91b y5c93 w481 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">\u00a338<span class=\"_ _2\"></span>5,838 (<span class=\"_ _2\"></span>aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x91c y5c93 w482 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5e ws14c\">\u00a337<span class=\"_ _4\"></span>1<span class=\"_ _0\"></span>,3<span class=\"_ _2\"></span>80 (aver<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x91d hc y5c94 ff2 fs6 fc3 sc0 lsc6 ws15a\">res<span class=\"_ _0\"></span>tated<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"c n x91e y5c95 w483 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">Mor<span class=\"_ _0\"></span>tality<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x91f y5c95 w484 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 ws1\">Avera<span class=\"_ _0\"></span>ge life expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy</div></td><td class=\"t m0 x920 hc y5c96 ff2 fs6 fc3 sc0 ls17f ws1\">Averag<span class=\"_ _0\"></span>e life expec<span class=\"_ _0\"></span>tancy<span class=\"_ _0\"></span> </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x606 h23 y5c97 ff3 fs6 fc3 sc0 ls37 ws1\">of a mal<span class=\"_ _0\"></span>e and fema<span class=\"_ _0\"></span>le </td><td class=\"t m0 x86b hc y5c98 ff2 fs6 fc3 sc0 ls17f ws1\">of a male an<span class=\"_ _0\"></span>d female </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x921 h23 y5c99 ff3 fs6 fc3 sc0 ls37 ws1b\">curr<span class=\"_ _0\"></span>ently ag<span class=\"_ _0\"></span>ed 7<span class=\"_ _2\"></span>5 is 14.<span class=\"_ _2\"></span>2 </td><td class=\"t m0 x3be hc y5c9a ff2 fs6 fc3 sc0 ls17f ws1\">current<span class=\"_ _0\"></span>ly age<span class=\"_ _0\"></span>d 7<span class=\"_ _4\"></span>5 i<span class=\"_ _0\"></span>s 1<span class=\"_ _2\"></span>4.<span class=\"_ _2\"></span>1 </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x606 h23 y5c9b ff3 fs6 fc3 sc0 ls37 ws1\">year<span class=\"_ _0\"></span>s and 15<span class=\"_ _2\"></span>.8 year<span class=\"_ _0\"></span>s </td><td class=\"t m0 x86b hc y5c9c ff2 fs6 fc3 sc0 ls17f ws1\">year<span class=\"_ _0\"></span>s and 15<span class=\"_ _2\"></span>.6 years </td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x491 h23 y5c9d ff3 fs6 fc3 sc0 lsd wsd\">respectively<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x922 hc y5c9e ff2 fs6 fc3 sc0 ls56 ws53\">respe<span class=\"_ _0\"></span>ctively<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x923 hc y5c9f ff2 fs6 fc3 sc0 ls17f ws192\">V<span class=\"_ _2\"></span>olunt<span class=\"_ _0\"></span>ary </td><td></td><td class=\"c n x924 y5ca0 w485 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws13\">190bps t<span class=\"_ _2\"></span>o 400bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x925 y5ca0 w486 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">190b<span class=\"_ _0\"></span>ps to 6<span class=\"_ _2\"></span>50<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x2f4 hc y5ca1 ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ca2 w487 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c x927 y5ca2 w488 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DCF mo<span class=\"_ _0\"></span>del</div><div class=\"t m0 x926 h11 y5ca3 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x928 y5ca4 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x929 y5ca4 w489 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">230<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x914 hc y5ca5 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>3b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x908 h23 y5ca6 ff3 fs6 fc3 sc0 ls1 ws1\">(weighte<span class=\"_ _0\"></span>d averag<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b1 hc y5ca6 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y5ca7 w48a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips</div><div class=\"t m0 x92a h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92b y5ca7 w48b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Income capit<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span>is<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>ion<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92c y5ca7 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x92d y5ca7 w48c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">6<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92e y5ca7 w48d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">613b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ca8 w48e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Collecti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x92f y5ca8 w48f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Net asset value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x930 y5ca8 w490 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">N<span class=\"_ _0\"></span>et ass<span class=\"_ _0\"></span>et statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x931 y5ca8 w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">\u00a3<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>87m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x932 y5ca8 w492 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">\u00a34<span class=\"_ _0\"></span>01<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5ca9 ff3 fs6 fc3 sc0 ls10 ws10\">Borro<span class=\"_ _2\"></span>wings<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5caa w493 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y reversion<span class=\"_ _0\"></span>s loans (see n<span class=\"_ _0\"></span>ote E5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x933 y5caa w494 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Internally developed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x934 y5caa w495 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y rate<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x3b1 hc y5cab ff2 fs6 fc3 sc0 lsb5 ws1ca\">130<span class=\"_ _0\"></span>% I<span class=\"_ _0\"></span>FL9<span class=\"_ _0\"></span>2C15 </td><td class=\"c n x935 y5caa w496 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1b\">130% IFL92<span class=\"_ _2\"></span>C1<span class=\"_ _2\"></span>5<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x936 hc y5cac ff2 fs6 fc3 sc0 ls13 ws14\">model<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x938 y5cad w497 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(Fe<span class=\"_ _0\"></span>mal<span class=\"_ _0\"></span>e)</div><div class=\"t m0 x937 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c x93a y5caf w498 h239\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(Fe<span class=\"_ _0\"></span>ma<span class=\"_ _0\"></span>le)</div><div class=\"t m0 x939 h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x2ee hc y5cb0 ff2 fs6 fc3 sc0 lsb5 ws1ca\">130<span class=\"_ _0\"></span>% I<span class=\"_ _0\"></span>ML<span class=\"_ _0\"></span>92C15 </td><td class=\"t m0 x3bc h23 y5cb0 ff3 fs6 fc3 sc0 ls1 ws1b\">130% IML92<span class=\"_ _2\"></span>C1<span class=\"_ _2\"></span>5 </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"c x93c y5cb1 w499 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(M<span class=\"_ _0\"></span>ale)</div><div class=\"t m0 x93b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c x93e y5cb2 w49a h239\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(M<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span>e)</div><div class=\"t m0 x93d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x48f hc y5cb3 ff2 fs6 fc3 sc0 lsb6 wsb\">House pr<span class=\"_ _2\"></span>ice </td><td class=\"t m0 x3aa hc y5cb3 ff2 fs6 fc3 sc0 ls17f ws1\">3-year R<span class=\"_ _0\"></span>PI rate plus </td><td class=\"t m0 x903 h23 y5cb3 ff3 fs6 fc3 sc0 ls37 ws1\">3-year R<span class=\"_ _0\"></span>PI rate pl<span class=\"_ _0\"></span>us </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x918 hc y5cb4 ff2 fs6 fc3 sc0 ls56 ws53\">inflation<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 hc y5cb4 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">75b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 h23 y5cb4 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"c n x934 y5cb5 w49b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Dis<span class=\"_ _0\"></span>count rate<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x93f hc y5cb6 ff2 fs6 fc3 sc0 ls17f ws1\">3-year swa<span class=\"_ _0\"></span>p rate plus<span class=\"_ _3bd\"> </span></td><td class=\"c n x940 y5cb5 w49c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">3-year s<span class=\"_ _0\"></span>wap rate pl<span class=\"_ _0\"></span>us</div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x941 hc y5cb7 ff2 fs6 fc3 sc0 ls1bb ws1ec\"> 17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bd h23 y5cb7 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x942 hc y5cb8 ff2 fs6 fc3 sc0 ls17f ws20c\">Deferre<span class=\"_ _0\"></span>d pos<span class=\"_ _0\"></span>sessi<span class=\"_ _0\"></span>on </td><td class=\"c n x943 y5cb9 w49d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">370<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y5cb9 w49e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3a9 hc y5cba ff2 fs6 fc3 sc0 lsc6 ws15a\">rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c h23 y5cbb ff3 fs6 fc3 sc0 ls1a ws1b\">Derivative ass<span class=\"_ _0\"></span>ets and liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5cbc ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward private pla<span class=\"_ _0\"></span>cement<span class=\"_ _0\"></span>s, infra<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>ture </td><td class=\"c x946 y5c39 w49f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x945 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5c39 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x907 hc y5cbd ff2 fs6 fc3 sc0 ls15c ws1ee\">111b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></td><td class=\"c n x902 y5c39 w4a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">98b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c x28d y5cbf w4a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>lo<span class=\"_ _0\"></span>cal auth<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y loans</div><div class=\"t m0 x947 h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"t m0 x3aa hc y5cc0 ff2 fs6 fc3 sc0 ls5e ws14c\">(weigh<span class=\"_ _0\"></span>ted aver<span class=\"_ _0\"></span>age)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x903 h23 y5cc0 ff3 fs6 fc3 sc0 ls37 ws1\">(weighte<span class=\"_ _0\"></span>d average)<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"c x28d y5a15 w4a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swaps</div><div class=\"t m0 x948 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c x946 y5a15 w49f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x945 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x949 y5a15 w4a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Swap c<span class=\"_ _0\"></span>urve<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94a y5a15 w4a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">s<span class=\"_ _0\"></span>wap cur<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94b y5a15 w4a5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws14c\">swa<span class=\"_ _0\"></span>p cur<span class=\"_ _0\"></span>ve<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"c x28d y5a16 w4a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total ret<span class=\"_ _0\"></span>urn swap</div><div class=\"t m0 x94c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c x900 y5a16 w46e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">DC<span class=\"_ _0\"></span>F model</div><div class=\"t m0 x8ff h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x901 y5a16 w46f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94d y5a16 w4a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">500b<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94e y5a16 w4a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">500<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td></td></tr></table>1 <span class=\"_ _7\"> </span><span class=\"ws1\">Di<span class=\"_ _0\"></span>scou<span class=\"_ _0\"></span>nted ca<span class=\"_ _0\"></span>sh flow (<span class=\"_ _0\"></span>\u2018D<span class=\"_ _0\"></span>CF\u2019<span class=\"_ _0\"></span>) mode<span class=\"_ _0\"></span>l: Exc<span class=\"_ _0\"></span>ept wh<span class=\"_ _0\"></span>ere oth<span class=\"_ _0\"></span>erw<span class=\"_ _0\"></span>ise st<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, the dis<span class=\"_ _0\"></span>coun<span class=\"_ _0\"></span>t rate us<span class=\"_ _0\"></span>ed is ba<span class=\"_ _0\"></span>sed on a r<span class=\"_ _0\"></span>isk-fre<span class=\"_ _0\"></span>e cur<span class=\"_ _0\"></span>ve and a cr<span class=\"_ _0\"></span>edit sp<span class=\"_ _0\"></span>read<span class=\"_ _0\"></span>. The ri<span class=\"_ _0\"></span>sk-free r<span class=\"_ _0\"></span>ate is ta<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n from an a<span class=\"_ _0\"></span>pprop<span class=\"_ _0\"></span>riate g<span class=\"_ _0\"></span>ilt of </span>com<span class=\"_ _0\"></span>para<span class=\"_ _0\"></span>ble dur<span class=\"_ _0\"></span>ation<span class=\"_ _0\"></span>. The s<span class=\"_ _0\"></span>pread i<span class=\"_ _0\"></span>s deri<span class=\"_ _0\"></span>ved from a b<span class=\"_ _0\"></span>asket of c<span class=\"_ _0\"></span>ompa<span class=\"_ _0\"></span>rable s<span class=\"_ _0\"></span>ecu<span class=\"_ _0\"></span>ritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _145\"> </span><span class=\"ws1\">E<span class=\"_ _0\"></span>RM loa<span class=\"_ _0\"></span>ns: Th<span class=\"_ _0\"></span>e loan<span class=\"_ _0\"></span>s are val<span class=\"_ _0\"></span>ued us<span class=\"_ _0\"></span>ing a DC<span class=\"_ _0\"></span>F mode<span class=\"_ _0\"></span>l and a Bl<span class=\"_ _0\"></span>ack-Sc<span class=\"_ _0\"></span>hole<span class=\"_ _0\"></span>s mode<span class=\"_ _0\"></span>l for val<span class=\"_ _0\"></span>uatio<span class=\"_ _0\"></span>n of the No<span class=\"_ _0\"></span>-Ne<span class=\"_ _0\"></span>gati<span class=\"_ _0\"></span>ve Equit<span class=\"_ _0\"></span>y Gua<span class=\"_ _0\"></span>rante<span class=\"_ _0\"></span>e (\u2018N<span class=\"_ _0\"></span>NEG<span class=\"_ _0\"></span>\u2019). Th<span class=\"_ _0\"></span>e NNEG c<span class=\"_ _0\"></span>aps th<span class=\"_ _0\"></span>e loan re<span class=\"_ _0\"></span>payme<span class=\"_ _0\"></span>nt in the e<span class=\"_ _0\"></span>vent of de<span class=\"_ _0\"></span>ath or </span>ent<span class=\"_ _0\"></span>ry into l<span class=\"_ _0\"></span>ong-<span class=\"_ _0\"></span>term c<span class=\"_ _0\"></span>are to be n<span class=\"_ _0\"></span>o great<span class=\"_ _0\"></span>er than t<span class=\"_ _0\"></span>he sal<span class=\"_ _0\"></span>es pro<span class=\"_ _0\"></span>cee<span class=\"_ _0\"></span>ds from th<span class=\"_ _0\"></span>e prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y. The f<span class=\"_ _0\"></span>uture c<span class=\"_ _0\"></span>ash flo<span class=\"_ _0\"></span>ws are es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>ted ba<span class=\"_ _0\"></span>sed on a<span class=\"_ _0\"></span>ssum<span class=\"_ _0\"></span>ed leve<span class=\"_ _0\"></span>ls of mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lity d<span class=\"_ _0\"></span>erive<span class=\"_ _0\"></span>d from pu<span class=\"_ _0\"></span>blish<span class=\"_ _0\"></span>ed mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lity t<span class=\"_ _0\"></span>able<span class=\"_ _0\"></span>s, ent<span class=\"_ _0\"></span>ry into l<span class=\"_ _0\"></span>ong-<span class=\"_ _0\"></span>term c<span class=\"_ _0\"></span>are rate<span class=\"_ _0\"></span>s and vol<span class=\"_ _0\"></span>untar<span class=\"_ _0\"></span>y red<span class=\"_ _0\"></span>empti<span class=\"_ _0\"></span>on rate<span class=\"_ _0\"></span>s. Ca<span class=\"_ _0\"></span>sh flow<span class=\"_ _0\"></span>s inclu<span class=\"_ _0\"></span>de an all<span class=\"_ _0\"></span>owanc<span class=\"_ _0\"></span>e for the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted c<span class=\"_ _0\"></span>ost of pr<span class=\"_ _0\"></span>ovidin<span class=\"_ _0\"></span>g a NNEG a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d under a r<span class=\"_ _0\"></span>eal wor<span class=\"_ _0\"></span>ld app<span class=\"_ _0\"></span>roach u<span class=\"_ _0\"></span>sing a c<span class=\"_ _0\"></span>lose<span class=\"_ _0\"></span>d form mo<span class=\"_ _0\"></span>del inc<span class=\"_ _0\"></span>ludin<span class=\"_ _0\"></span>g an as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d level of p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y value vo<span class=\"_ _0\"></span>latili<span class=\"_ _0\"></span>ty. For t<span class=\"_ _0\"></span>he NNE<span class=\"_ _0\"></span>G asse<span class=\"_ _0\"></span>ssm<span class=\"_ _0\"></span>ent, p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y value<span class=\"_ _0\"></span>s are ind<span class=\"_ _0\"></span>exed fr<span class=\"_ _0\"></span>om the la<span class=\"_ _0\"></span>test p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y valuat<span class=\"_ _0\"></span>ion po<span class=\"_ _0\"></span>int and th<span class=\"_ _0\"></span>en as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d to grow in l<span class=\"_ _0\"></span>ine wit<span class=\"_ _0\"></span>h an RPI ba<span class=\"_ _0\"></span>sed as<span class=\"_ _0\"></span>sump<span class=\"_ _0\"></span>tion. C<span class=\"_ _0\"></span>ash flo<span class=\"_ _0\"></span>ws are di<span class=\"_ _0\"></span>scou<span class=\"_ _0\"></span>nted us<span class=\"_ _0\"></span>ing a ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-f<span class=\"_ _0\"></span>ree cu<span class=\"_ _0\"></span>rve pl<span class=\"_ _0\"></span>us a spre<span class=\"_ _0\"></span>ad, wh<span class=\"_ _0\"></span>ere th<span class=\"_ _0\"></span>e sprea<span class=\"_ _0\"></span>d is bas<span class=\"_ _0\"></span>ed on re<span class=\"_ _0\"></span>cen<span class=\"_ _0\"></span>t origin<span class=\"_ _0\"></span>ation<span class=\"_ _0\"></span>s, wi<span class=\"_ _0\"></span>th marg<span class=\"_ _0\"></span>ins to al<span class=\"_ _0\"></span>low for th<span class=\"_ _0\"></span>e diffe<span class=\"_ _0\"></span>rent ri<span class=\"_ _0\"></span>sk profil<span class=\"_ _0\"></span>es of ER<span class=\"_ _0\"></span>M loans<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _145\"> </span><span class=\"ws1\">I<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e stri<span class=\"_ _0\"></span>ps are tr<span class=\"_ _0\"></span>ansa<span class=\"_ _0\"></span>ctio<span class=\"_ _0\"></span>ns whe<span class=\"_ _0\"></span>re an owne<span class=\"_ _0\"></span>r-oc<span class=\"_ _0\"></span>cupi<span class=\"_ _0\"></span>er of a prop<span class=\"_ _0\"></span>er<span class=\"_ _0\"></span>ty ha<span class=\"_ _0\"></span>s sold a f<span class=\"_ _0\"></span>reeh<span class=\"_ _0\"></span>old or lo<span class=\"_ _0\"></span>ng lea<span class=\"_ _0\"></span>seho<span class=\"_ _0\"></span>ld inte<span class=\"_ _0\"></span>rest to t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up, and h<span class=\"_ _0\"></span>as sign<span class=\"_ _0\"></span>ed a lon<span class=\"_ _0\"></span>g lea<span class=\"_ _0\"></span>se (ty<span class=\"_ _0\"></span>pical<span class=\"_ _0\"></span>ly 30<span class=\"_ _0\"></span>-45 y<span class=\"_ _0\"></span>ears) o<span class=\"_ _0\"></span>r a groun<span class=\"_ _0\"></span>d lea<span class=\"_ _0\"></span>se </span>(t<span class=\"_ _0\"></span>ypica<span class=\"_ _0\"></span>lly 45<span class=\"_ _0\"></span>-175 yea<span class=\"_ _0\"></span>rs) and r<span class=\"_ _0\"></span>etain<span class=\"_ _0\"></span>s the rig<span class=\"_ _0\"></span>ht to rep<span class=\"_ _0\"></span>urcha<span class=\"_ _0\"></span>se the p<span class=\"_ _0\"></span>rope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y at the en<span class=\"_ _0\"></span>d of the le<span class=\"_ _0\"></span>ase fo<span class=\"_ _0\"></span>r a nomin<span class=\"_ _0\"></span>al sum (u<span class=\"_ _0\"></span>suall<span class=\"_ _0\"></span>y \u00a31). Th<span class=\"_ _0\"></span>e inco<span class=\"_ _0\"></span>me str<span class=\"_ _0\"></span>ips are v<span class=\"_ _0\"></span>alue<span class=\"_ _0\"></span>d using a<span class=\"_ _0\"></span>n incom<span class=\"_ _0\"></span>e cap<span class=\"_ _0\"></span>itali<span class=\"_ _0\"></span>satio<span class=\"_ _0\"></span>n appro<span class=\"_ _0\"></span>ach<span class=\"_ _0\"></span>, where t<span class=\"_ _0\"></span>he annual rental income is<span class=\"_ _2\"></span> capit<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span>ise<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> using an appropriate yield.<span class=\"_ _2\"></span> The yield is determined by<span class=\"_ _2\"></span> con<span class=\"_ _0\"></span>sideri<span class=\"_ _2\"></span>ng recent transac<span class=\"_ _0\"></span>tions<span class=\"_ _2\"></span> involving similar<span class=\"_ _2\"></span> incom<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> strips<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>4 <span class=\"_ _145\"> </span><span class=\"ws1\">I<span class=\"_ _0\"></span>FL92C<span class=\"_ _0\"></span>15 an<span class=\"_ _0\"></span>d IML<span class=\"_ _0\"></span>92C1<span class=\"_ _0\"></span>5 rel<span class=\"_ _0\"></span>ate to imm<span class=\"_ _0\"></span>ediat<span class=\"_ _0\"></span>e annui<span class=\"_ _0\"></span>tant fe<span class=\"_ _0\"></span>male an<span class=\"_ _0\"></span>d male l<span class=\"_ _0\"></span>ives an<span class=\"_ _0\"></span>d refer to t<span class=\"_ _0\"></span>he 92 se<span class=\"_ _0\"></span>ries m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>alit<span class=\"_ _0\"></span>y tabl<span class=\"_ _0\"></span>es pro<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d by the C<span class=\"_ _0\"></span>ontinu<span class=\"_ _0\"></span>ous Mo<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>lit<span class=\"_ _0\"></span>y Inves<span class=\"_ _0\"></span>tigat<span class=\"_ _0\"></span>ion (\u2018<span class=\"_ _0\"></span>CMI<span class=\"_ _0\"></span>\u2019).<span class=\"_ _3bd\"> </span></span>5 <span class=\"_ _145\"> </span><span class=\"ws1\">D<span class=\"_ _0\"></span>eriv<span class=\"_ _0\"></span>ative li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies inc<span class=\"_ _0\"></span>lude fo<span class=\"_ _0\"></span>rwa<span class=\"_ _0\"></span>rd inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>ts of \u00a33<span class=\"_ _0\"></span>3 millio<span class=\"_ _0\"></span>n (2023<span class=\"_ _0\"></span>: \u00a354 mi<span class=\"_ _0\"></span>llion) wh<span class=\"_ _0\"></span>ich inc<span class=\"_ _0\"></span>lude a c<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>ment to a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>re or prov<span class=\"_ _0\"></span>ide fun<span class=\"_ _0\"></span>ding fo<span class=\"_ _0\"></span>r fixed ra<span class=\"_ _0\"></span>te debt in<span class=\"_ _0\"></span>str<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s at spe<span class=\"_ _0\"></span>cifie<span class=\"_ _0\"></span>d futu<span class=\"_ _0\"></span>re date<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></span>6 <span class=\"_ _145\"> </span><span class=\"ws1\">In<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d with<span class=\"_ _0\"></span>in deri<span class=\"_ _0\"></span>vative a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies are l<span class=\"_ _0\"></span>onge<span class=\"_ _0\"></span>vit<span class=\"_ _0\"></span>y swap c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>cts wi<span class=\"_ _0\"></span>th cor<span class=\"_ _0\"></span>porat<span class=\"_ _0\"></span>e pens<span class=\"_ _0\"></span>ion sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s with a fa<span class=\"_ _0\"></span>ir valu<span class=\"_ _0\"></span>e of \u00a316<span class=\"_ _0\"></span>5 mill<span class=\"_ _0\"></span>ion (202<span class=\"_ _0\"></span>3: \u00a323<span class=\"_ _0\"></span>0 mill<span class=\"_ _0\"></span>ion) and \u00a3<span class=\"_ _0\"></span>63 mill<span class=\"_ _0\"></span>ion (20<span class=\"_ _0\"></span>23: \u00a31<span class=\"_ _0\"></span>00 mi<span class=\"_ _0\"></span>llion) </span>res<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>tivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. (s<span class=\"_ _0\"></span>ee not<span class=\"_ _0\"></span>e E3.<span class=\"_ _0\"></span>2 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls).<span class=\"_ _3bd\"> </span>7 <span class=\"_ _1af\"> </span><span class=\"ws1\">In<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d withi<span class=\"_ _0\"></span>n deriv<span class=\"_ _0\"></span>ative li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies is th<span class=\"_ _0\"></span>e Equit<span class=\"_ _0\"></span>y Rel<span class=\"_ _0\"></span>ease I<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e Plan (<span class=\"_ _0\"></span>\u2018ER<span class=\"_ _0\"></span>IP<span class=\"_ _0\"></span>\u2019) tot<span class=\"_ _0\"></span>al retu<span class=\"_ _0\"></span>rn swap w<span class=\"_ _0\"></span>ith a val<span class=\"_ _0\"></span>ue of \u00a33<span class=\"_ _0\"></span>8 millio<span class=\"_ _0\"></span>n (2023<span class=\"_ _0\"></span>: \u00a350 mi<span class=\"_ _0\"></span>llion), un<span class=\"_ _0\"></span>der wh<span class=\"_ _0\"></span>ich a sh<span class=\"_ _0\"></span>are of the d<span class=\"_ _0\"></span>ispo<span class=\"_ _0\"></span>sal pro<span class=\"_ _0\"></span>cee<span class=\"_ _0\"></span>ds aris<span class=\"_ _0\"></span>ing on </span>a<span class=\"_ gs1f7\"> </span>po<span class=\"_ _0\"></span>rtf<span class=\"_ _0\"></span>olio of pr<span class=\"_ _0\"></span>oper<span class=\"_ _0\"></span>ty re<span class=\"_ _0\"></span>vers<span class=\"_ _0\"></span>ions is p<span class=\"_ _0\"></span>ayabl<span class=\"_ _0\"></span>e to a third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y (see n<span class=\"_ _0\"></span>ote E.<span class=\"_ _0\"></span>3.<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r deta<span class=\"_ _0\"></span>ils).<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.1 Debt s<span class=\"_ _0\"></span>ecurit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span><table class=\"s w4a9 h23a\" id=\"_cc0f4a8a-8104-487a-9126-302b773fbff2\"><tr><td></td><td class=\"t m0 x1ce h29 y5cc1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5cc1 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5cc2 ff2 fs5 fc3 sc0 ls1 ws1\">Ana<span class=\"_ _0\"></span>lysi<span class=\"_ _0\"></span>s of Level 3 de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uriti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cc2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5cc2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5cc3 ff2 fs6 fc3 sc0 ls13 ws14\">Unquoted corporate bonds:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cc4 w4aa h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit a<span class=\"_ _0\"></span>gencie<span class=\"_ _0\"></span>s &amp; supranat<span class=\"_ _0\"></span>ionals<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x94f y5cc4 w334 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">4<span class=\"_ _0\"></span>61<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x950 y5cc4 w14e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cc5 w4ab h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Private co<span class=\"_ _0\"></span>rporate cre<span class=\"_ _0\"></span>dit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x951 y5cc5 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,04<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x952 y5cc5 w4ac h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,829<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1d w4ad h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans \u2013 pro<span class=\"_ _0\"></span>ject fin<span class=\"_ _0\"></span>ance<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x953 y5c1d w4ae h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">1<span class=\"_ _0\"></span>,01<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x954 y5c1d w3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cc6 w4af h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans \u2013 co<span class=\"_ _0\"></span>rporate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x955 y5cc6 w4b0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,613<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x956 y5cc6 w132 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,493<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c1f w476 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x957 y5c1f w2b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,172<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x958 y5c1f w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,186<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b31 w478 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x959 y5b31 w2c0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">8<span class=\"_ _0\"></span>23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95a y5b31 w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">9<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b32 w4b2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">ERM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95b y5b32 w172 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">4<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95c y5b32 w4b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,48<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 w487 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95d y5b33 w4b4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95e y5b33 w404 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>147<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 w4b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56a y5b34 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">555<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95f y5b34 w4b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">6<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w4b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Bridg<span class=\"_ _0\"></span>ing loans to pr<span class=\"_ _0\"></span>ivate equit<span class=\"_ _0\"></span>y funds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x551 y5afa w171 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x960 y5afa w20c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x961 y5c66 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5c66 w390 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w4b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal L<span class=\"_ _0\"></span>ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 3 debt se<span class=\"_ _0\"></span>curities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x962 y5a46 w41e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x963 y5a46 w4b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">13<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x964 y5b25 w4ba h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(555)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x965 y5b25 w4bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(67<span class=\"_ _2\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w4bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal L<span class=\"_ _0\"></span>ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l 3 debt se<span class=\"_ _0\"></span>curities exc<span class=\"_ _0\"></span>luding a<span class=\"_ _0\"></span>mount<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sified as h<span class=\"_ _0\"></span>eld for sa<span class=\"_ _0\"></span>le<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x966 y5a16 w4bd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">14,<span class=\"_ _0\"></span>591<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x967 y5a16 w4be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">13,<span class=\"_ _0\"></span>144<span class=\"_ _3bd\"> </span></div></td></tr></table>E2<span class=\"_ _0\"></span>.4 S<span class=\"_ _0\"></span>ensit<span class=\"_ _0\"></span>ivities o<span class=\"_ _0\"></span>f Level 3 ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts<span class=\"_ _3bd\"> </span><table class=\"s w4bf h23b\" id=\"_9dbae669-f2a7-4d4d-876b-08e5465c1175\"><tr><td></td><td></td><td></td><td class=\"c n x968 y5cc7 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x969 y5cc7 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x3ae h29 y5cc8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96a h29 y5cc8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96b ha y5cc8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act f<span class=\"_ _0\"></span>rom </td><td class=\"t m0 x96c ha y5cc8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act f<span class=\"_ _0\"></span>rom </td></tr><tr><td></td><td class=\"t m0 x3b7 ha y5cc9 ff2 fs5 fc3 sc0 ls11 ws11\">Key<span class=\"_ _2\"></span> unobse<span class=\"_ _0\"></span>rvable </td><td class=\"t m0 x96d ha y5cc9 ff2 fs5 fc3 sc0 ls11 ws11\">Reasonable </td><td class=\"t m0 x96e h29 y5cc9 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f h29 y5cc9 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x970 ha y5cc9 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x971 ha y5cc9 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x3b7 ha y5cca ff2 fs5 fc3 sc0 ls21 ws23\">input<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96d ha y5cca ff2 fs5 fc3 sc0 ls22 ws24\">alternative<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5cca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 h29 y5cca ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a ha y5cca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5cca ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5ccb w469 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x973 y5ccb w4c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net ass<span class=\"_ _0\"></span>et value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x974 y5ccb w4c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x975 y5ccb w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x976 y5ccb w4c3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x977 y5ccb w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x978 y5ccb w84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5ccc ff2 fs6 fc3 sc0 ls12 ws13\">statements<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c h23 y5ccd ff3 fs6 fc3 sc0 ls10 ws10\">Debt secu<span class=\"_ _2\"></span>rities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5cce ff2 fs6 fc3 sc0 ls1 ws1\">Loans g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d by expor<span class=\"_ _0\"></span>t credit a<span class=\"_ _0\"></span>gencie<span class=\"_ _0\"></span>s </td><td class=\"c n x979 y5ccf w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ccf w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97b y5ccf w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97c y5ccf w4c6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97d y5ccf w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97e y5ccf w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5cd0 ff2 fs6 fc3 sc0 ls13 ws14\">and supranationals<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5cd1 w471 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private corporate credit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97f y5cd1 w4c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x980 y5cd1 w4c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/-<span class=\"_ _2\"></span> 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5cd1 w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(169)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x982 y5cd1 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">181<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x983 y5cd1 w4ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>103)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x984 y5cd1 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">116<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd2 w2b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x985 y5cd2 w4c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x986 y5cd2 w4cb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x987 y5cd2 w4cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x988 y5cd2 w4cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">1<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x989 y5cd2 w4ce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(129)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98a y5cd2 w4d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">134<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd3 w476 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loans to h<span class=\"_ _0\"></span>ousing as<span class=\"_ _0\"></span>sociat<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98b y5cd3 w4cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit sp<span class=\"_ _0\"></span>read<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98c y5cd3 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 65<span class=\"_ _0\"></span>bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98d y5cd3 w4d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>97)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98e y5cd3 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98f y5cd3 w4d1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(93<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x990 y5cd3 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">105<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd4 w478 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Local auth<span class=\"_ _0\"></span>ority loans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x991 y5cd4 w4d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x992 y5cd4 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x993 y5cd4 w4d3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x994 y5cd4 w4d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x995 y5cd4 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x996 y5cd4 w4d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cd5 w4b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">ERM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x997 y5cd5 w4d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">C<span class=\"_ _0\"></span>redit sprea<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x998 y5cd5 w4d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>- 10<span class=\"_ _0\"></span>0bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x999 y5cd5 w4d8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">(41<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99a y5cd5 w284 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">457<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99b y5cd5 w4d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(37<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99c y5cd5 w4da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cd6 ff2 fs6 fc3 sc0 lsc wsb\">House pr<span class=\"_ _2\"></span>ice </td><td class=\"c n x974 y5cd7 w4db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99d y5cd7 w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99e y5cd7 w4dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(80<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x99f y5cd7 w3e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a0 y5cd7 w4dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">(<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cd8 ff2 fs6 fc3 sc0 ls12b ws3c\">inflation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n x979 y5cd9 w4de h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">House pr<span class=\"_ _2\"></span>ices<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a1 y5cd9 w4df h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a2 y5cd9 w4e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a3 y5cd9 w378 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(55<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a4 y5cd9 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a5 y5cd9 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(59)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x979 y5cda w4e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Mor<span class=\"_ _0\"></span>tality<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a6 y5cda w4db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 5<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a7 y5cda w135 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a8 y5cda w4e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9a9 y5cda w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9aa y5cda w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cdb ff2 fs6 fc3 sc0 ls13 ws14\">V<span class=\"_ _2\"></span>oluntary </td><td class=\"c n x974 y5cdc w4c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ab y5cdc w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ac y5cdc w4e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ad y5cdc w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ae y5cdc w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x3b7 hc y5cdd ff2 fs6 fc3 sc0 ls1 ws1\">rede<span class=\"_ _0\"></span>mption rate<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5cde w487 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial re<span class=\"_ _0\"></span>al estate l<span class=\"_ _0\"></span>oans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9af y5cde w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b0 y5cde w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b1 y5cde w2d6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b2 y5cde w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b3 y5cde w4e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b4 y5cde w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">48<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cdf w4b5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome strips<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9af y5cdf w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b0 y5cdf w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b5 y5cdf w4e6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b6 y5cdf w373 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b7 y5cdf w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(89)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b8 y5cdf wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce0 w48e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Collecti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9b9 y5ce0 w4e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset val<span class=\"_ _0\"></span>ue<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x974 y5ce0 w4c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c ws1d\">+/-<span class=\"_ _0\"></span> 1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ba y5ce0 w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bb y5ce0 w4e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(49<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bc y5ce0 w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bd y5ce0 w4e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ce1 w4ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">Derivative ass<span class=\"_ _0\"></span>ets and liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x3b7 hc y5ce2 ff2 fs6 fc3 sc0 ls12 ws13\">statements<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td class=\"c n x9be y5ce1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce3 ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward private pla<span class=\"_ _0\"></span>cement<span class=\"_ _0\"></span>s, infra<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>ture </td><td class=\"c n x979 y5ce4 w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ce4 w4c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 6<span class=\"_ _0\"></span>5bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9bf y5ce4 w4eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c0 y5ce4 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c1 y5ce4 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c2 y5ce4 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce5 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>lo<span class=\"_ _0\"></span>cal auth<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y loans<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce6 w4ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swap contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c3 y5ce6 w4ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sw<span class=\"_ _0\"></span>ap curve<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c4 y5ce6 w4ee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+<span class=\"_ _2\"></span>/-<span class=\"_ _2\"></span> 1<span class=\"_ _0\"></span>00bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c5 y5ce6 w185 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c6 y5ce6 w4ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c7 y5ce6 w208 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c8 y5ce6 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce7 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total  </td><td class=\"c n x979 y5ce8 w4c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Credit s<span class=\"_ _0\"></span>pread<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x97a y5ce8 w4f0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">+/<span class=\"_ _4\"></span>- 1<span class=\"_ _0\"></span>00bps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9c9 y5ce8 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ca y5ce8 w4f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cb y5ce8 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cc y5ce8 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ce9 ff2 fs6 fc3 sc0 ls1 ws1\">return s<span class=\"_ _0\"></span>wap<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>For the pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>y rever<span class=\"_ _0\"></span>sions loan<span class=\"_ _0\"></span>s and bridgin<span class=\"_ _0\"></span>g loans to priva<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y funds<span class=\"_ _0\"></span>, there are no re<span class=\"_ _0\"></span>asonab<span class=\"_ _0\"></span>ly possib<span class=\"_ _0\"></span>le movement<span class=\"_ _0\"></span>s in unobse<span class=\"_ _0\"></span>rvable in<span class=\"_ _0\"></span>put value<span class=\"_ _0\"></span>s which would re<span class=\"_ _0\"></span>sult in a signific<span class=\"_ _0\"></span>ant movement in th<span class=\"_ _0\"></span>e fair value of the fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>E2<span class=\"_ _0\"></span>.5 T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs of finan<span class=\"_ _0\"></span>cial i<span class=\"_ _0\"></span>nstr<span class=\"_ _0\"></span>ument<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween Level 1 a<span class=\"_ _0\"></span>nd Level 2<span class=\"_ _3bd\"> </span><table class=\"s w4f2 h23c\" id=\"_188701f7-ddfd-48bf-b742-51513608b6eb\"><tr><td></td><td class=\"t m0 x57a h29 y5cea ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 1 to </td><td class=\"t m0 x9cd h29 y5cea ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 2 to </td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5ceb ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 h29 y5ceb ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5cec ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5cec ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5ced ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5cee ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b29 we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ce y5b29 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9cf y5b29 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b06 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d0 y5b06 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d1 y5b06 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a15 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d2 y5a15 w131 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>319<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d3 y5a15 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">244<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a16 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d4 y5a16 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d5 y5a16 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w4f2 h23d\" id=\"_eec37631-5858-4478-903c-eb832b570ab8\"><tr><td></td><td class=\"t m0 x57a h29 y5cef ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 1 to </td><td class=\"t m0 x9cd h29 y5cef ff3 fs5 fc3 sc0 ls1 ws1\">From L<span class=\"_ _0\"></span>evel 2 to </td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y5cf0 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5c2 h29 y5cf0 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5cf1 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5cf1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5cf1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5cf2 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y5cf3 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cf4 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d6 y5cf4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d7 y5cf4 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5cf5 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets des<span class=\"_ _0\"></span>ignated at F<span class=\"_ _0\"></span>VT<span class=\"_ _0\"></span>PL upon initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x231 y5cf6 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x24c y5cf6 wcc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x24d y5cf6 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5cf7 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d2 y5cf7 w4f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d8 y5cf7 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">7<span class=\"_ _0\"></span>25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x231 y5cf8 w3d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes</div><div class=\"t m0 x7d6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f6 y5a16 w4f4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">1,188<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9d9 y5a16 w119 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>As a re<span class=\"_ _0\"></span>sult of th<span class=\"_ _0\"></span>e ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent of th<span class=\"_ _0\"></span>e liquid<span class=\"_ _0\"></span>ity of t<span class=\"_ _0\"></span>he und<span class=\"_ _0\"></span>erlyi<span class=\"_ _0\"></span>ng inves<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d withi<span class=\"_ _0\"></span>n colle<span class=\"_ _0\"></span>ctiv<span class=\"_ _0\"></span>e invest<span class=\"_ _0\"></span>ment s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>es, i<span class=\"_ _0\"></span>n acco<span class=\"_ _0\"></span>rdan<span class=\"_ _0\"></span>ce with t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up\u2019s fair va<span class=\"_ _0\"></span>lue hie<span class=\"_ _0\"></span>rarchy c<span class=\"_ _0\"></span>las<span class=\"_ _0\"></span>sifica<span class=\"_ _0\"></span>tion m<span class=\"_ _0\"></span>ethod<span class=\"_ _0\"></span>olog<span class=\"_ _0\"></span>y a<span class=\"_ gs1f7\"> </span>net \u00a31<span class=\"_ _0\"></span>,172 mil<span class=\"_ _0\"></span>lion of co<span class=\"_ _0\"></span>llec<span class=\"_ _0\"></span>tive inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent sc<span class=\"_ _0\"></span>heme<span class=\"_ _0\"></span>s has tr<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rred f<span class=\"_ _0\"></span>rom Level 1 t<span class=\"_ _0\"></span>o Level 2.<span class=\"_ _3bd\"> </span>Con<span class=\"_ _0\"></span>sistent with t<span class=\"_ _0\"></span>he prior year, all the Group\u2019s Level 1 and Level 2 a<span class=\"_ _0\"></span>ssets h<span class=\"_ _0\"></span>ave been val<span class=\"_ _0\"></span>ued using s<span class=\"_ _0\"></span>tandar<span class=\"_ _0\"></span>d market pricing so<span class=\"_ _0\"></span>urces<span class=\"_ _0\"></span>. The ap<span class=\"_ _0\"></span>plication of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s fa<span class=\"_ _0\"></span>ir value hierarc<span class=\"_ _0\"></span>hy classifi<span class=\"_ _0\"></span>cation met<span class=\"_ _0\"></span>hodolo<span class=\"_ _0\"></span>gy at an individ<span class=\"_ _0\"></span>ual sec<span class=\"_ _0\"></span>urity leve<span class=\"_ _0\"></span>l, in par<span class=\"_ _0\"></span>ticular obs<span class=\"_ _0\"></span>ervat<span class=\"_ _0\"></span>ions with reg<span class=\"_ _0\"></span>ard to mea<span class=\"_ _0\"></span>sures of market depth an<span class=\"_ _0\"></span>d bid-ask s<span class=\"_ _0\"></span>preads<span class=\"_ _0\"></span>, resulted in a<span class=\"_ _0\"></span>n ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rall net movem<span class=\"_ _0\"></span>ent of debt sec<span class=\"_ _0\"></span>urities from Level 1 to Level 2 in b<span class=\"_ _0\"></span>oth the current and pr<span class=\"_ _0\"></span>ior period<span class=\"_ _0\"></span>. E2<span class=\"_ _0\"></span>.6 Movem<span class=\"_ _0\"></span>ent in Level 3 fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial ins<span class=\"_ _0\"></span>trum<span class=\"_ _0\"></span>ents me<span class=\"_ _0\"></span>asur<span class=\"_ _0\"></span>ed at fair va<span class=\"_ _0\"></span>lue<span class=\"_ _3bd\"> </span><table class=\"s w4f5 h23e\" id=\"_32c57813-a49e-4133-a6c4-a76bdea421ac\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9da h29 y5cf9 ff3 fs5 fc3 sc0 lsbe wsbe\">Unrealised </td></tr><tr><td></td><td></td><td class=\"t m0 x9db h29 y5cfa ff3 fs5 fc3 sc0 ls8d ws86\">Net (losses)<span class=\"_ _2\"></span>/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 x49b h29 y5cfa ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransfers<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 x9dc h29 y5cfb ff3 fs5 fc3 sc0 ls8d ws86\">(losses)/<span class=\"_ _4\"></span>gains </td></tr><tr><td></td><td></td><td class=\"t m0 x3a3 h29 y5cfc ff3 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins in </td><td></td><td></td><td class=\"t m0 x9dd h29 y5cfc ff3 fs5 fc3 sc0 ls1 ws1\"> fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x9de h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ans<span class=\"_ _0\"></span>fers to </td><td class=\"t m0 x9df h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 x9e0 h29 y5cfd ff3 fs5 fc3 sc0 ls1 ws1\">on a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s hel<span class=\"_ _0\"></span>d </td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5cfe ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x3a3 h29 y5cfe ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td></td><td></td><td class=\"t m0 x96a h29 y5cfe ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 </td><td class=\"t m0 x9e2 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 x492 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 x498 h29 y5cff ff3 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5d00 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea h29 y5d00 ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f4 h29 y5d00 ff3 fs5 fc3 sc0 ls8d ws86\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e3 h29 y5d00 ff3 fs5 fc3 sc0 ls8d ws86\">Sales<span class=\"_ _3bd\"> </span></td><td class=\"c x924 y5d02 w4f6 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">an<span class=\"_ _0\"></span>d Level 2</div><div class=\"t m0 x9e4 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">2</div></td><td class=\"t m0 x919 h29 y5d03 ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"c x9e6 y5d02 w4f7 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024</div><div class=\"t m0 x9e5 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x6be h29 y5d03 ff3 fs5 fc3 sc0 ls22 ws24\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5d04 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5d04 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d05 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d06 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d07 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d08 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d08 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ea y5d08 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9eb y5d08 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ec y5d08 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ed y5d08 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ee y5d08 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ef y5d08 w4f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f0 y5d08 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5d09 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f1 y5d09 w10a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">2,49<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f2 y5d09 w98 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f3 y5d09 w4f9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">446<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f4 y5d09 w4fa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f5 y5d09 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f6 y5d09 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a7 y5d09 w4fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">2,<span class=\"_ _0\"></span>576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f7 y5d09 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c06 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f8 y5c06 w4fc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6d ws202\">13,818<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f9 y5c06 w4fd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(335<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fa y5c06 w4fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>42<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fb y5c06 w4ff h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fc y5c06 wd2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">282<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fd y5c06 waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9fe y5c06 w41e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15,146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9ff y5c06 w500 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>259<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5c07 wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa00 y5c07 w501 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">401<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa01 y5c07 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa02 y5c07 w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa03 y5c07 w503 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(60)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa04 y5c07 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa05 y5c07 w9f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa06 y5c07 w2d8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa07 y5c07 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w421 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa08 y5a16 w504 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa09 y5a16 w4fd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls8e ws87\">(346<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0a y5a16 w505 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,01<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0b y5a16 w506 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>02)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0c y5a16 w221 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0d y5a16 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0e y5a16 w422 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa0f y5a16 w4ba h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(239)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>T<span class=\"_ _2\"></span>ot<span class=\"_ _0\"></span>al finan<span class=\"_ _0\"></span>cial a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts of \u00a31<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>37<span class=\"_ _2\"></span>4 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a355<span class=\"_ _0\"></span>5 milli<span class=\"_ _0\"></span>on of ass<span class=\"_ _0\"></span>ets cl<span class=\"_ _0\"></span>ass<span class=\"_ _0\"></span>ified as h<span class=\"_ _0\"></span>eld fo<span class=\"_ _0\"></span>r sale.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>D<span class=\"_ _0\"></span>uring t<span class=\"_ _0\"></span>he year, \u00a32<span class=\"_ _0\"></span>82 milli<span class=\"_ _0\"></span>on of deb<span class=\"_ _0\"></span>t secu<span class=\"_ _0\"></span>ritie<span class=\"_ _0\"></span>s were tr<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rred f<span class=\"_ _0\"></span>rom Leve<span class=\"_ _0\"></span>l 1 and Leve<span class=\"_ _0\"></span>l 2 to Level 3 to h<span class=\"_ _0\"></span>armo<span class=\"_ _0\"></span>nise th<span class=\"_ _0\"></span>e appr<span class=\"_ _0\"></span>oach fo<span class=\"_ _0\"></span>r deter<span class=\"_ _0\"></span>minin<span class=\"_ _0\"></span>g the fair v<span class=\"_ _0\"></span>alue hi<span class=\"_ _0\"></span>erar<span class=\"_ _0\"></span>chy acro<span class=\"_ _0\"></span>ss th<span class=\"_ _0\"></span>e Group fo<span class=\"_ _0\"></span>llowin<span class=\"_ _0\"></span>g the ac<span class=\"_ _0\"></span>quisi<span class=\"_ _0\"></span>tion of Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s Limite<span class=\"_ _0\"></span>d (forme<span class=\"_ _0\"></span>rly kn<span class=\"_ _0\"></span>own as S<span class=\"_ _0\"></span>LF of Can<span class=\"_ _0\"></span>ada UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d) in the p<span class=\"_ _0\"></span>rior pe<span class=\"_ _0\"></span>riod<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w507 h240\" id=\"_910f38ae-c48d-4f96-b46e-4a5836c854f3\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9da h29 y5d0a ff3 fs5 fc3 sc0 lsbe wsbe\">Unrealised </td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x9e0 h29 y5d0b ff3 fs5 fc3 sc0 ls8d ws86\">(gains)/<span class=\"_ _2\"></span>loss<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> </td></tr><tr><td></td><td></td><td class=\"t m0 xa10 h29 y5d0c ff3 fs5 fc3 sc0 lsa4 ws9f\">Ne<span class=\"_ _0\"></span>t (gai<span class=\"_ _0\"></span>ns)/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x971 h29 y5d0c ff3 fs5 fc3 sc0 ls8d ws86\">losses on </td></tr><tr><td></td><td></td><td class=\"t m0 x2e3 h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">los<span class=\"_ _0\"></span>ses i<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 x49b h29 y5d0d ff3 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransfers </td><td class=\"t m0 x9de h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ans<span class=\"_ _0\"></span>fers to </td><td class=\"t m0 xa11 h29 y5d0d ff3 fs5 fc3 sc0 ls1 ws1\">At 31<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e0 h29 y5d0d ff3 fs5 fc3 sc0 ls65 wsc0\">liabilities held </td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5d0e ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x3a3 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td></td><td class=\"t m0 x490 h29 y5d0e ff3 fs5 fc3 sc0 ls8d ws86\">Sales/ </td><td class=\"t m0 xa12 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">fro<span class=\"_ _0\"></span>m Level 1 </td><td class=\"t m0 x9e2 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 x75e h29 y5d0e ff3 fs5 fc3 sc0 lsbe wsbe\"> December </td><td class=\"t m0 x498 h29 y5d0e ff3 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5d0f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea h29 y5d0f ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f4 h29 y5d0f ff3 fs5 fc3 sc0 ls8d ws86\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae h29 y5d0f ff3 fs5 fc3 sc0 lsbe wsbe\">repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa13 h29 y5d0f ff3 fs5 fc3 sc0 ls1 ws1\">an<span class=\"_ _0\"></span>d Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x919 h29 y5d0f ff3 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5d0f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6be h29 y5d0f ff3 fs5 fc3 sc0 ls22 ws24\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5d10 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d10 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d11 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d12 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d13 we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa14 y5d13 w14e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">206<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa15 y5d13 w508 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa16 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa17 y5d13 w33f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa18 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa19 y5d13 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1a y5d13 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1b y5d13 w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>67)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5d14 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d15 ff2 fs6 fc3 sc0 lsd wsd\">initial recog<span class=\"_ _0\"></span>nition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5c07 w142 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1c y5c07 w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1d y5c07 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1e y5c07 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1f y5c07 w187 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa20 y5c07 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa21 y5c07 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa22 y5c07 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa23 y5c07 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w509 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> mea<span class=\"_ _0\"></span>sured<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa24 y5a16 w50a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa25 y5a16 w185 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa26 y5a16 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa27 y5a16 w50b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa28 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa29 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa2a y5a16 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa2b y5a16 w503 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(65)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w50c h241\" id=\"_80791844-630e-45b6-99b4-786198e658b9\"><tr><td></td><td></td><td class=\"t m0 xa2c ha y5d16 ff2 fs5 fc3 sc0 ls11 ws11\">Net (losses)/<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x941 ha y5d16 ff2 fs5 fc3 sc0 ls21 ws23\">Unrealis<span class=\"_ _0\"></span>ed </td></tr><tr><td></td><td></td><td class=\"t m0 x2de ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins in </td><td></td><td></td><td class=\"t m0 x606 ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x913 ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs to </td><td class=\"t m0 x9df ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 x86c ha y5d17 ff2 fs5 fc3 sc0 ls1 ws1\">ga<span class=\"_ _0\"></span>ins on as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s </td></tr><tr><td></td><td class=\"t m0 xa2d ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2de ha y5d18 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td></td><td></td><td class=\"t m0 x3bc ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2e ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2f ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 xa30 ha y5d18 ff2 fs5 fc3 sc0 ls1 ws1\">he<span class=\"_ _0\"></span>ld at end o<span class=\"_ _0\"></span>f </td></tr><tr><td></td><td class=\"t m0 x3b2 ha y5d19 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea ha y5d19 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 ha y5d19 ff2 fs5 fc3 sc0 ls54 ws7f\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e3 ha y5d19 ff2 fs5 fc3 sc0 ls11 ws11\">Sales<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96a ha y5d19 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x919 ha y5d19 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"c x9e6 y5d1a w4f7 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023</div><div class=\"t m0 x9e5 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 xa32 ha y5d19 ff2 fs5 fc3 sc0 ls9e ws9a\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5d1b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d1c ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d1d ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets man<span class=\"_ _0\"></span>datorily he<span class=\"_ _0\"></span>ld at FV<span class=\"_ _0\"></span>TPL:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d1e wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa33 y5d1e w1a8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa34 y5d1e w20d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa35 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa36 y5d1e w251 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa37 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa38 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa39 y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3a y5d1e wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5d1f we2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d1f w50d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3b y5d1f w5c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3c y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3d y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3e y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa3f y5d1f wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa40 y5d1f wd2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa41 y5d1f w5c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5a45 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f1 y5a45 w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,19<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa42 y5a45 w50e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa43 y5a45 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">433<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa44 y5a45 w4ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>293)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa45 y5a45 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa46 y5a45 w1fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa47 y5a45 w132 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa48 y5a45 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5b24 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9f8 y5b24 w54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _0\"></span>,465<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa49 y5b24 w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4a y5b24 w510 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4b y5b24 w511 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4c y5b24 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">150<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4d y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4e y5b24 w512 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">1<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>818<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa4f y5b24 w20c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x2ac y5b25 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa50 y5b25 w441 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">312<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa51 y5b25 w513 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa52 y5b25 w514 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa53 y5b25 w324 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa54 y5b25 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa55 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa56 y5b25 we0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">401<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa41 y5b25 w199 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w421 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial asset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> meas<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> at fair value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa57 y5a16 w515 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">14<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa58 y5a16 w516 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1de ws1f9\">70<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa59 y5a16 w510 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5a y5a16 w517 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>5,<span class=\"_ _0\"></span>528)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5b y5a16 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">153<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5c y5a16 w518 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5d y5a16 w519 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa5e y5a16 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>Total fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s of \u00a316<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>46 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>es \u00a3678 m<span class=\"_ _0\"></span>illion o<span class=\"_ _0\"></span>f asse<span class=\"_ _0\"></span>ts cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as h<span class=\"_ _0\"></span>eld for s<span class=\"_ _0\"></span>ale.<span class=\"_ _3bd\"> </span><table class=\"s w50c h242\" id=\"_1d184edc-d623-48c6-bbd6-df06a9ee08bd\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x941 ha y5d20 ff2 fs5 fc3 sc0 ls21 ws23\">Unrealis<span class=\"_ _0\"></span>ed </td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x498 ha y5d21 ff2 fs5 fc3 sc0 ls1 ws1\">los<span class=\"_ _0\"></span>ses o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td></td><td class=\"t m0 xa2c ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t loss<span class=\"_ _0\"></span>es in </td><td></td><td></td><td class=\"t m0 x606 ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs fro<span class=\"_ _0\"></span>m </td><td class=\"t m0 x913 ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ansfe<span class=\"_ _0\"></span>rs to </td><td class=\"t m0 x9df ha y5d22 ff2 fs5 fc3 sc0 ls1 ws1\">At </td><td class=\"t m0 xa30 ha y5d22 ff2 fs5 fc3 sc0 ls21 ws23\">liabilities he<span class=\"_ _0\"></span>ld </td></tr><tr><td></td><td class=\"t m0 xa2d ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2de ha y5d23 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td></td><td class=\"t m0 x490 ha y5d23 ff2 fs5 fc3 sc0 ls11 ws11\">Sales/<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bc ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2e ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">Leve<span class=\"_ _0\"></span>l 1 and </td><td class=\"t m0 xa2f ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td><td class=\"t m0 x498 ha y5d23 ff2 fs5 fc3 sc0 ls1 ws1\">at en<span class=\"_ _0\"></span>d of </td></tr><tr><td></td><td class=\"t m0 x3b2 ha y5d24 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ea ha y5d24 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 ha y5d24 ff2 fs5 fc3 sc0 ls54 ws7f\">Purchases<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae ha y5d24 ff2 fs5 fc3 sc0 ls4d wsbf\">Repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96a ha y5d24 ff2 fs5 fc3 sc0 ls14a ws138\">Level 2<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa5f ha y5d24 ff2 fs5 fc3 sc0 ls14a ws138\">Level </td><td class=\"t m0 x49c ha y5d24 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa32 ha y5d24 ff2 fs5 fc3 sc0 ls9e ws9a\">period<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5d25 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f7 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">2\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5d26 ff3 fs6 fc3 sc0 ls5f ws122\">Financial liabili<span class=\"_ _2\"></span>ties measured at fair v<span class=\"_ _2\"></span>alue<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d27 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s mandator<span class=\"_ _0\"></span>ily held at F<span class=\"_ _0\"></span>VTPL<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d28 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9e9 y5d28 w51a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa60 y5d28 w2a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">67<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa61 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa62 y5d28 w28b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(10<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa63 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa64 y5d28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa65 y5d28 w215 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa66 y5d28 w341 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">59<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5d29 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s design<span class=\"_ _0\"></span>ated at FV<span class=\"_ _0\"></span>TPL upon </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5d2a ff2 fs6 fc3 sc0 lsd wsd\">initial recog<span class=\"_ _0\"></span>nition:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x2ac y5d2b w142 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa67 y5d2b w51b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa68 y5d2b w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa69 y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6a y5d2b w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6b y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6c y5d2b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6d y5d2b w1b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6e y5d2b wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5d2c ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal financial liabilities<span class=\"_ _2\"></span> mea<span class=\"_ _0\"></span>sured<span class=\"_ _2\"></span> <span class=\"ls1 ws1\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b4c w51c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">at fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa6f y5b4c w6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">307<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa70 y5b4c w51d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa71 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa72 y5b4c w84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa73 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa74 y5b4c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa75 y5b4c w2ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">2<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa76 y5b4c wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _3bd\"> </span></div></td></tr></table>Gains a<span class=\"_ _0\"></span>nd loss<span class=\"_ _0\"></span>es on Level 3 finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>et investme<span class=\"_ _0\"></span>nt income in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me statem<span class=\"_ _0\"></span>ent. Th<span class=\"_ _0\"></span>ere were no<span class=\"_ gs47\"> </span>gain<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>or los<span class=\"_ _0\"></span>ses rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in other com<span class=\"_ _0\"></span>prehens<span class=\"_ _0\"></span>ive income in ei<span class=\"_ _0\"></span>ther the cur<span class=\"_ _0\"></span>rent or compa<span class=\"_ _0\"></span>rative perio<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-657": {
   "value": "<div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs358\">E1<span class=\"_ _0\"></span>.2 im<span class=\"_ _0\"></span>pairm<span class=\"_ _0\"></span>ent of fina<span class=\"_ _0\"></span>ncial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s held a<span class=\"_ _0\"></span>t amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs359\">The Gro<span class=\"_ _0\"></span>up applies a for<span class=\"_ _0\"></span>ward-lo<span class=\"_ _0\"></span>oking expe<span class=\"_ _0\"></span>cted c<span class=\"_ _0\"></span>redit los<span class=\"_ _0\"></span>s (\u2018ECL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>) approac<span class=\"_ _0\"></span>h to the financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts carrie<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. A significant p<span class=\"_ _0\"></span>ortio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs35a\">the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets are c<span class=\"_ _0\"></span>arried at F<span class=\"_ _0\"></span>VTPL a<span class=\"_ _0\"></span>nd are therefore n<span class=\"_ _0\"></span>ot subjec<span class=\"_ _0\"></span>t to ECL ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent. The fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs35b\">and s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to E<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>L mainly relate to c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain loan as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, other rec<span class=\"_ _0\"></span>eivables a<span class=\"_ _0\"></span>nd cer<span class=\"_ _0\"></span>tain ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts balan<span class=\"_ _0\"></span>ces.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs35c\">For the in-<span class=\"_ _0\"></span>scope fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets at th<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ting date eith<span class=\"_ _0\"></span>er the lifetime ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>s or a 12-month ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit los<span class=\"_ _0\"></span>s is provide<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs35d\">dep<span class=\"_ _0\"></span>ending on th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of wheth<span class=\"_ _0\"></span>er the cre<span class=\"_ _0\"></span>dit risk ass<span class=\"_ _0\"></span>ociated w<span class=\"_ _0\"></span>ith the spe<span class=\"_ _0\"></span>cific ass<span class=\"_ _0\"></span>et has incre<span class=\"_ _0\"></span>ased si<span class=\"_ _0\"></span>gnificantl<span class=\"_ _0\"></span>y since initial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs35e\">rec<span class=\"_ _0\"></span>ognition<span class=\"_ _0\"></span>. The Group\u2019s current cre<span class=\"_ _0\"></span>dit risk gra<span class=\"_ _0\"></span>ding frame<span class=\"_ _0\"></span>work compri<span class=\"_ _0\"></span>ses the followin<span class=\"_ _0\"></span>g categ<span class=\"_ _0\"></span>ories:<span class=\"_ _3bd\"> </span></div><div class=\"gs35f\"><table class=\"s w40a h233\" id=\"_40678324-96c4-4f5b-a0bc-7dd6b4bf359f\"><tr><td class=\"c n x1d4 y5c35 w40b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Cat<span class=\"_ _0\"></span>egor<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x833 y5c35 w40c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Des<span class=\"_ _0\"></span>cription<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x834 y5c35 w40d h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Ba<span class=\"_ _0\"></span>sis for re<span class=\"_ _0\"></span>cog<span class=\"_ _0\"></span>nisin<span class=\"_ _0\"></span>g ECL<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c36 w40e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Performing<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x835 y5c36 w40f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Th<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y has a low risk of def<span class=\"_ _0\"></span>ault and doe<span class=\"_ _0\"></span>s not have<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x800 hc y5c37 ff2 fs6 fc3 sc0 ls1 ws1\">12 month EC<span class=\"_ _0\"></span>L<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x836 hc y5c38 ff2 fs6 fc3 sc0 ls1 ws1\">any pas<span class=\"_ _0\"></span>t-due amount<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"c n x1d4 y5c39 w410 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">Doubt<span class=\"_ _0\"></span>ful<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x837 y5c39 w411 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Th<span class=\"_ _0\"></span>ere has be<span class=\"_ _0\"></span>en a signific<span class=\"_ _0\"></span>ant increa<span class=\"_ _0\"></span>se in credit ris<span class=\"_ _0\"></span>k since initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x838 y5c39 w412 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lifetim<span class=\"_ _0\"></span>e ECL \u2013 not credi<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>impaired<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c3a w413 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">In default<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x839 y5c3a w414 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">There is e<span class=\"_ _0\"></span>vidence in<span class=\"_ _0\"></span>dicating th<span class=\"_ _0\"></span>e asset i<span class=\"_ _0\"></span>s credit impaire<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83a y5c3a w415 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lifetime ECL \u2013 c<span class=\"_ _0\"></span>redit<span class=\"_ gs47\"> </span>impaire<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c3b w416 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsd wsd\">Write-off<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x83b y5c3b w417 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Th<span class=\"_ _0\"></span>ere is eviden<span class=\"_ _0\"></span>ce indicat<span class=\"_ _0\"></span>ing that the c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ty is in s<span class=\"_ _0\"></span>evere financ<span class=\"_ _0\"></span>ial diffic<span class=\"_ _0\"></span>ulty<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x800 hc y5c3c ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt is written of<span class=\"_ _0\"></span>f<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x836 hc y5c3d ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e Group has n<span class=\"_ _0\"></span>o realistic p<span class=\"_ _0\"></span>rospec<span class=\"_ _0\"></span>t of recover<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs360\">The fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost are a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sed as at 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2024 as \u2018per<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rming\u2019 and thi<span class=\"_ _0\"></span>s asses<span class=\"_ _0\"></span>sment is s<span class=\"_ _0\"></span>ummarise<span class=\"_ _0\"></span>d below. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs361\">Loans an<span class=\"_ _0\"></span>d deposi<span class=\"_ _0\"></span>ts \u2013 the Group h<span class=\"_ _0\"></span>as ass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d the est<span class=\"_ _0\"></span>imated cre<span class=\"_ _0\"></span>dit losse<span class=\"_ _0\"></span>s of these lo<span class=\"_ _0\"></span>ans and dep<span class=\"_ _0\"></span>osits as l<span class=\"_ _0\"></span>ow due to the ex<span class=\"_ _0\"></span>ternal cre<span class=\"_ _0\"></span>dit ratings of th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs362\">counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>ies resultin<span class=\"_ _0\"></span>g in low credit risk a<span class=\"_ _0\"></span>nd there be<span class=\"_ _0\"></span>ing no pas<span class=\"_ _0\"></span>t-due amo<span class=\"_ _0\"></span>unts. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs363\">Oth<span class=\"_ _0\"></span>er rece<span class=\"_ _0\"></span>ivables \u2013 the<span class=\"_ _0\"></span>se balan<span class=\"_ _0\"></span>ces relate to inves<span class=\"_ _0\"></span>tment broker bal<span class=\"_ _0\"></span>ances an<span class=\"_ _0\"></span>d other reg<span class=\"_ _0\"></span>ular rece<span class=\"_ _0\"></span>ivables due to th<span class=\"_ _0\"></span>e Group in the n<span class=\"_ _0\"></span>ormal cour<span class=\"_ _0\"></span>se of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs364\">busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>. Expe<span class=\"_ _0\"></span>cted c<span class=\"_ _0\"></span>redit loss<span class=\"_ _0\"></span>es are as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed as bein<span class=\"_ _0\"></span>g immaterial g<span class=\"_ _0\"></span>iven the t<span class=\"_ _0\"></span>ypically s<span class=\"_ _0\"></span>hort-term n<span class=\"_ _0\"></span>ature of these b<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs366\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s \u2013 the Group\u2019s cash a<span class=\"_ _0\"></span>nd cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s are held wit<span class=\"_ _0\"></span>h banks and fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>titutions<span class=\"_ _0\"></span>, which h<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ve inves<span class=\"_ _0\"></span>tment gr<span class=\"_ _0\"></span>ade </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs367\">credi<span class=\"_ _0\"></span>t ratings of \u2018<span class=\"_ _0\"></span>BBB<span class=\"_ _0\"></span>\u2019 or above. Th<span class=\"_ _0\"></span>e Group cons<span class=\"_ _0\"></span>iders tha<span class=\"_ _0\"></span>t its cas<span class=\"_ _0\"></span>h and cas<span class=\"_ _0\"></span>h equivalent<span class=\"_ _0\"></span>s have low credit r<span class=\"_ _0\"></span>isk base<span class=\"_ _0\"></span>d on the ex<span class=\"_ _0\"></span>ternal cre<span class=\"_ _0\"></span>dit ratings </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs368\">of<span class=\"_ gs47\"> </span>the co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties and, t<span class=\"_ _0\"></span>here bein<span class=\"_ _0\"></span>g no histor<span class=\"_ _0\"></span>y of default<span class=\"_ _0\"></span>. The impac<span class=\"_ _0\"></span>t to the net c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g amount st<span class=\"_ _0\"></span>ated in the t<span class=\"_ _0\"></span>able above is the<span class=\"_ _0\"></span>refore not </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs369\">con<span class=\"_ _0\"></span>sidered to be m<span class=\"_ _0\"></span>aterial.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs97\">Bas<span class=\"_ _0\"></span>ed on the ab<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment<span class=\"_ _0\"></span>, an immaterial c<span class=\"_ _0\"></span>redit los<span class=\"_ _0\"></span>s balanc<span class=\"_ _0\"></span>e has be<span class=\"_ _0\"></span>en determine<span class=\"_ _0\"></span>d due to thes<span class=\"_ _0\"></span>e financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s being pre<span class=\"_ _0\"></span>dominantl<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs98\">shor<span class=\"_ _0\"></span>t-term and havin<span class=\"_ _0\"></span>g low credit ris<span class=\"_ _0\"></span>k.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-629": {
   "value": "E3. D<span class=\"_ _0\"></span>erivatives<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up purchas<span class=\"_ _0\"></span>es derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s princip<span class=\"_ _0\"></span>ally in conne<span class=\"_ _0\"></span>ction with t<span class=\"_ _0\"></span>he manag<span class=\"_ _0\"></span>ement of it<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t and investm<span class=\"_ _0\"></span>ent contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of reduc<span class=\"_ _0\"></span>tion of risk and ef<span class=\"_ _0\"></span>ficient p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y hold deriv<span class=\"_ _0\"></span>atives for the p<span class=\"_ _0\"></span>urpose of sellin<span class=\"_ _0\"></span>g and repurc<span class=\"_ _0\"></span>hasing in the n<span class=\"_ _0\"></span>ear term or wit<span class=\"_ _0\"></span>h the obje<span class=\"_ _0\"></span>ctive of gen<span class=\"_ _0\"></span>erating a profit f<span class=\"_ _0\"></span>rom shor<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-ter<span class=\"_ _0\"></span>m fluctua<span class=\"_ _0\"></span>tions in price o<span class=\"_ _0\"></span>r margin<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up also holds d<span class=\"_ _0\"></span>erivatives whic<span class=\"_ _0\"></span>h are design<span class=\"_ _0\"></span>ated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to he<span class=\"_ _0\"></span>dge the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings. T<span class=\"_ _0\"></span>hese he<span class=\"_ _0\"></span>dging rela<span class=\"_ _0\"></span>tionships qu<span class=\"_ _0\"></span>alify for he<span class=\"_ _0\"></span>dge ac<span class=\"_ _0\"></span>counting un<span class=\"_ _0\"></span>der IFRS 9 a<span class=\"_ _0\"></span>nd are design<span class=\"_ _0\"></span>ated as ca<span class=\"_ _0\"></span>sh flow hed<span class=\"_ _0\"></span>ges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Der<span class=\"_ _0\"></span>ivative financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed initially at f<span class=\"_ _0\"></span>air value and are s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ently reme<span class=\"_ _0\"></span>asured to fair va<span class=\"_ _0\"></span>lue. The ga<span class=\"_ _0\"></span>in or loss on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement wh<span class=\"_ _0\"></span>ere the deriv<span class=\"_ _0\"></span>atives are held for t<span class=\"_ _0\"></span>rading<span class=\"_ _0\"></span>. Where deriva<span class=\"_ _0\"></span>tive finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are h<span class=\"_ _0\"></span>eld to hed<span class=\"_ _0\"></span>ge the Group\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion of any gain or lo<span class=\"_ _0\"></span>ss that aris<span class=\"_ _0\"></span>es on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is initia<span class=\"_ _0\"></span>lly recog<span class=\"_ _0\"></span>nised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and is re<span class=\"_ _0\"></span>cycled to profi<span class=\"_ _0\"></span>t or loss as th<span class=\"_ _0\"></span>e hedg<span class=\"_ _0\"></span>ed item impa<span class=\"_ _0\"></span>cts the profit or lo<span class=\"_ _0\"></span>ss. S<span class=\"_ _0\"></span>ee notes E1 an<span class=\"_ _0\"></span>d D3 for furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edging a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy.<span class=\"_ _3bd\"> </span>E3.1 Summary<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir values of deriva<span class=\"_ _0\"></span>tive financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts are as follows<span class=\"_ _0\"></span>: <table class=\"s w51e h243\" id=\"_169c13f2-7ae7-4616-a4be-f011713da42b\"><tr><td></td><td class=\"t m0 xa77 h29 y5d2d ff3 fs5 fc3 sc0 ls9e ws9a\">Assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa78 h29 y5d2d ff3 fs5 fc3 sc0 ls22 ws24\">Liabilities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5cc ha y5d2d ff2 fs5 fc3 sc0 ls65 wsc0\">Asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y5d2d ff2 fs5 fc3 sc0 ls21 ws23\">Liabilities<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa79 h29 y5d2e ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c5 h29 y5d2e ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1ce ha y5d2e ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5d2e ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x542 h29 y5d2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5d2f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5d2f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d2f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5d30 w51f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">For<span class=\"_ _0\"></span>ward curren<span class=\"_ _0\"></span>cy<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7a y5d30 w520 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">130<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7b y5d30 w371 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7c y5d30 w100 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">265<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7d y5d30 w521 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d31 w522 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Credit d<span class=\"_ _0\"></span>efault swap<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7e y5d31 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7f y5d31 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa80 y5d31 wb3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa81 y5d31 w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d32 w523 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts fo<span class=\"_ _0\"></span>r differen<span class=\"_ _0\"></span>ce<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa82 y5d32 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa83 y5d32 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa84 y5d32 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa85 y5d32 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d33 w524 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t rate swap<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa86 y5d33 w525 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,526<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa87 y5d33 w3d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa88 y5d33 w526 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa89 y5d33 w527 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2,<span class=\"_ _0\"></span>290<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cc4 w528 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ret<span class=\"_ _0\"></span>urn bond swa<span class=\"_ _0\"></span>ps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8a y5cc4 w243 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8b y5cc4 w195 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8c y5cc4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8d y5cc4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d34 w529 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Swaptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8e y5d34 w1af h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">147<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8f y5d34 w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa90 y5d34 w1a4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa91 y5d34 w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">65<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c1d w52a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Inflation swap<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa92 y5c1d w1a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa93 y5c1d wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">339<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa94 y5c1d w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa95 y5c1d w2c7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cc6 w52b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y options<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa96 y5cc6 w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa97 y5cc6 w2b2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x274 y5cc6 w52c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa98 y5cc6 wd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d35 w52d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Stock in<span class=\"_ _0\"></span>dex future<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa99 y5d35 w2aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9a y5d35 w204 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9b y5d35 w52e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9c y5d35 w197 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">87<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d36 w52f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Fixe<span class=\"_ _0\"></span>d income fu<span class=\"_ _0\"></span>tures<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9d y5d36 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9e y5d36 w521 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">71<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9f y5d36 w98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4dd y5d36 w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">1<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b32 w4ec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y swap contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5b32 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">165<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa0 y5b32 w5c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa1 y5b32 w6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">230<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa2 y5b32 wd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 w531 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Curren<span class=\"_ _0\"></span>cy future<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa3 y5b33 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa4 y5b33 w2ff h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa5 y5b33 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ac y5b33 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 w532 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cros<span class=\"_ _0\"></span>s currenc<span class=\"_ _0\"></span>y swaps<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa6 y5c48 w4d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">156<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa7 y5c48 w215 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa8 y5c48 wd2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaa9 y5c48 w533 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">274<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w534 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Incom<span class=\"_ _0\"></span>e Plan total return s<span class=\"_ _0\"></span>wap<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaa y5afa w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaab y5afa w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaac y5afa wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaad y5afa w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaae y5c66 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaf y5c66 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab0 y5c66 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab1 y5c66 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xab2 y5a46 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab3 y5a46 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab4 y5a46 we4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab5 y5a46 wdb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>344<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w439 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab6 y5a47 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab7 y5a47 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab8 y5a47 w1e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab9 y5a47 w151 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xab2 y5a16 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab3 y5a16 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,0<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaba y5a16 w15e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabb y5a16 w535 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td></tr></table>E3<span class=\"_ _0\"></span>.2 Lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y swa<span class=\"_ _0\"></span>p contr<span class=\"_ _0\"></span>acts<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has in pla<span class=\"_ _0\"></span>ce longev<span class=\"_ _0\"></span>ity sw<span class=\"_ _0\"></span>ap arrang<span class=\"_ _0\"></span>ements w<span class=\"_ _0\"></span>ith corpor<span class=\"_ _0\"></span>ate pensio<span class=\"_ _0\"></span>n scheme<span class=\"_ _0\"></span>s which do not m<span class=\"_ _0\"></span>eet the defini<span class=\"_ _0\"></span>tion of insuran<span class=\"_ _0\"></span>ce contr<span class=\"_ _0\"></span>acts<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>der the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s acc<span class=\"_ _0\"></span>ounting poli<span class=\"_ _0\"></span>cies. Un<span class=\"_ _0\"></span>der thes<span class=\"_ _0\"></span>e arrang<span class=\"_ _0\"></span>ements t<span class=\"_ _0\"></span>he majo<span class=\"_ _0\"></span>rity of the lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y risk ha<span class=\"_ _0\"></span>s been pa<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>ird part<span class=\"_ _0\"></span>ies. Der<span class=\"_ _0\"></span>ivative asse<span class=\"_ _0\"></span>ts of \u00a31<span class=\"_ _0\"></span>65 million an<span class=\"_ _0\"></span>d derivative liabili<span class=\"_ _0\"></span>ties of \u00a363 million h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 (20<span class=\"_ _0\"></span>23: \u00a323<span class=\"_ _0\"></span>0 million and \u00a31<span class=\"_ _0\"></span>00 million re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively).<span class=\"_ _3bd\"> </span>E3<span class=\"_ _0\"></span>.3 Eq<span class=\"_ _0\"></span>uity R<span class=\"_ _0\"></span>eleas<span class=\"_ _0\"></span>e Inco<span class=\"_ _0\"></span>me Plan (\u2018<span class=\"_ _0\"></span>ER<span class=\"_ _0\"></span>IP<span class=\"_ _0\"></span>\u2019) tot<span class=\"_ _0\"></span>al retu<span class=\"_ _0\"></span>rn swap<span class=\"_ _3bd\"> </span>ERI<span class=\"_ _0\"></span>P contrac<span class=\"_ _0\"></span>ts are an e<span class=\"_ _0\"></span>quity re<span class=\"_ _0\"></span>lease pro<span class=\"_ _0\"></span>duct unde<span class=\"_ _0\"></span>r which the Gro<span class=\"_ _0\"></span>up holds a rever<span class=\"_ _0\"></span>sionar<span class=\"_ _0\"></span>y interest in t<span class=\"_ _0\"></span>he residenti<span class=\"_ _0\"></span>al proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders who have be<span class=\"_ _0\"></span>en provided w<span class=\"_ _0\"></span>ith a lifetime annuit<span class=\"_ _0\"></span>y in return for t<span class=\"_ _0\"></span>he lega<span class=\"_ _0\"></span>l title to their prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y (see n<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>e G<span class=\"_ _0\"></span>4). The Group is p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y to an ERI<span class=\"_ _0\"></span>P total return swa<span class=\"_ _0\"></span>p under w<span class=\"_ _0\"></span>hich a share of the f<span class=\"_ _0\"></span>uture gen<span class=\"_ _0\"></span>erated c<span class=\"_ _0\"></span>ash flows aris<span class=\"_ _0\"></span>ing under th<span class=\"_ _0\"></span>e ERIP cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s is payable to a third pa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. O<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r time, as the p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty revers<span class=\"_ _0\"></span>ions are realis<span class=\"_ _0\"></span>ed, the re<span class=\"_ _0\"></span>levant share of disp<span class=\"_ _0\"></span>osal pro<span class=\"_ _0\"></span>ceed<span class=\"_ _0\"></span>s is transfer<span class=\"_ _0\"></span>red to a third par<span class=\"_ _0\"></span>ty w<span class=\"_ _0\"></span>ho also ho<span class=\"_ _0\"></span>lds a benefic<span class=\"_ _0\"></span>ial interest in t<span class=\"_ _0\"></span>hese resi<span class=\"_ _0\"></span>dential prope<span class=\"_ _0\"></span>rtie<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g amount of the de<span class=\"_ _0\"></span>rivative liabilit<span class=\"_ _0\"></span>y is the pre<span class=\"_ _0\"></span>sent value of all fu<span class=\"_ _0\"></span>ture cash fl<span class=\"_ _0\"></span>ows due to the third p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y under th<span class=\"_ _0\"></span>e to<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>al return swa<span class=\"_ _0\"></span>p.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-674": {
   "value": "The Gro<span class=\"_ _0\"></span>up purchas<span class=\"_ _0\"></span>es derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s princip<span class=\"_ _0\"></span>ally in conne<span class=\"_ _0\"></span>ction with t<span class=\"_ _0\"></span>he manag<span class=\"_ _0\"></span>ement of it<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t and investm<span class=\"_ _0\"></span>ent contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of reduc<span class=\"_ _0\"></span>tion of risk and ef<span class=\"_ _0\"></span>ficient p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. The Group d<span class=\"_ _0\"></span>oes not t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y hold deriv<span class=\"_ _0\"></span>atives for the p<span class=\"_ _0\"></span>urpose of sellin<span class=\"_ _0\"></span>g and repurc<span class=\"_ _0\"></span>hasing in the n<span class=\"_ _0\"></span>ear term or wit<span class=\"_ _0\"></span>h the obje<span class=\"_ _0\"></span>ctive of gen<span class=\"_ _0\"></span>erating a profit f<span class=\"_ _0\"></span>rom shor<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-ter<span class=\"_ _0\"></span>m fluctua<span class=\"_ _0\"></span>tions in price o<span class=\"_ _0\"></span>r margin<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up also holds d<span class=\"_ _0\"></span>erivatives whic<span class=\"_ _0\"></span>h are design<span class=\"_ _0\"></span>ated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s in order to he<span class=\"_ _0\"></span>dge the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings. T<span class=\"_ _0\"></span>hese he<span class=\"_ _0\"></span>dging rela<span class=\"_ _0\"></span>tionships qu<span class=\"_ _0\"></span>alify for he<span class=\"_ _0\"></span>dge ac<span class=\"_ _0\"></span>counting un<span class=\"_ _0\"></span>der IFRS 9 a<span class=\"_ _0\"></span>nd are design<span class=\"_ _0\"></span>ated as ca<span class=\"_ _0\"></span>sh flow hed<span class=\"_ _0\"></span>ges<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Der<span class=\"_ _0\"></span>ivative financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed initially at f<span class=\"_ _0\"></span>air value and are s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ently reme<span class=\"_ _0\"></span>asured to fair va<span class=\"_ _0\"></span>lue. The ga<span class=\"_ _0\"></span>in or loss on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement wh<span class=\"_ _0\"></span>ere the deriv<span class=\"_ _0\"></span>atives are held for t<span class=\"_ _0\"></span>rading<span class=\"_ _0\"></span>. Where deriva<span class=\"_ _0\"></span>tive finan<span class=\"_ _0\"></span>cial instr<span class=\"_ _0\"></span>uments are h<span class=\"_ _0\"></span>eld to hed<span class=\"_ _0\"></span>ge the Group\u2019s Euro and US D<span class=\"_ _0\"></span>ollar borrow<span class=\"_ _0\"></span>ings, t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>tive por<span class=\"_ _0\"></span>tion of any gain or lo<span class=\"_ _0\"></span>ss that aris<span class=\"_ _0\"></span>es on reme<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt to fair value is initia<span class=\"_ _0\"></span>lly recog<span class=\"_ _0\"></span>nised in oth<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome and is re<span class=\"_ _0\"></span>cycled to profi<span class=\"_ _0\"></span>t or loss as th<span class=\"_ _0\"></span>e hedg<span class=\"_ _0\"></span>ed item impa<span class=\"_ _0\"></span>cts the profit or lo<span class=\"_ _0\"></span>ss. S<span class=\"_ _0\"></span>ee notes E1 an<span class=\"_ _0\"></span>d D3 for furth<span class=\"_ _0\"></span>er details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s h<span class=\"_ _0\"></span>edging a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g policy.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-630": {
   "value": "E4. Collateral arrangements<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up receive<span class=\"_ _0\"></span>s and pled<span class=\"_ _0\"></span>ges coll<span class=\"_ _0\"></span>ateral in the form of c<span class=\"_ _0\"></span>ash or non-<span class=\"_ _0\"></span>cash as<span class=\"_ _0\"></span>sets in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of stock len<span class=\"_ _0\"></span>ding trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s, deri<span class=\"_ _0\"></span>vative contrac<span class=\"_ _0\"></span>ts and reins<span class=\"_ _0\"></span>urance arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents in orde<span class=\"_ _0\"></span>r t<span class=\"_ _2\"></span>o re<span class=\"_ _0\"></span>duce the c<span class=\"_ _0\"></span>redit risk of the<span class=\"_ _0\"></span>se trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s. The am<span class=\"_ _0\"></span>ount and t<span class=\"_ _0\"></span>ype of collate<span class=\"_ _0\"></span>ral require<span class=\"_ _0\"></span>d where the Gro<span class=\"_ _0\"></span>up rec<span class=\"_ _0\"></span>eives collater<span class=\"_ _0\"></span>al depen<span class=\"_ _0\"></span>ds on an as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of<span class=\"_ gs47\"> </span>the credi<span class=\"_ _0\"></span>t risk of the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y, but is usuall<span class=\"_ _0\"></span>y in the form of cash a<span class=\"_ _0\"></span>nd marketable s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived in the form of c<span class=\"_ _0\"></span>ash, wh<span class=\"_ _0\"></span>ere the Group h<span class=\"_ _0\"></span>as contrac<span class=\"_ _0\"></span>tual rig<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s to receive th<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s gener<span class=\"_ _0\"></span>ated and is availa<span class=\"_ _0\"></span>ble to the Group for investm<span class=\"_ _0\"></span>ent purpo<span class=\"_ _0\"></span>ses, i<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised as a fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>set in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al position wi<span class=\"_ _0\"></span>th a corresp<span class=\"_ _0\"></span>onding fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>y for its re<span class=\"_ _0\"></span>payment. N<span class=\"_ _0\"></span>on-ca<span class=\"_ _0\"></span>sh collater<span class=\"_ _0\"></span>al receive<span class=\"_ _0\"></span>d is not reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition, unle<span class=\"_ _0\"></span>ss the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y defaul<span class=\"_ _0\"></span>ts on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the<span class=\"_ gs47\"> </span>relev<span class=\"_ _0\"></span>ant agreem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>Non-<span class=\"_ _0\"></span>cash c<span class=\"_ _0\"></span>ollateral ple<span class=\"_ _0\"></span>dged w<span class=\"_ _0\"></span>here the Gro<span class=\"_ _0\"></span>up retains the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual rights to re<span class=\"_ _0\"></span>ceive the c<span class=\"_ _0\"></span>ash flows g<span class=\"_ _0\"></span>enerate<span class=\"_ _0\"></span>d is not dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed from the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition, un<span class=\"_ _0\"></span>less the G<span class=\"_ _0\"></span>roup default<span class=\"_ _0\"></span>s on its oblig<span class=\"_ _0\"></span>ations unde<span class=\"_ _0\"></span>r the relevant a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nt. Cash c<span class=\"_ _0\"></span>ollateral pl<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d, where t<span class=\"_ _0\"></span>he counterpa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y has cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al rights to re<span class=\"_ _0\"></span>ceive the ca<span class=\"_ _0\"></span>sh flows ge<span class=\"_ _0\"></span>nerated<span class=\"_ _0\"></span>, is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d from the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fi<span class=\"_ _0\"></span>nancial posi<span class=\"_ _0\"></span>tion and a corre<span class=\"_ _0\"></span>spondin<span class=\"_ _0\"></span>g receiva<span class=\"_ _0\"></span>ble is reco<span class=\"_ _0\"></span>gnised fo<span class=\"_ _0\"></span>r its return<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is also par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y to reverse rep<span class=\"_ _0\"></span>urchase a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nts under w<span class=\"_ _0\"></span>hich sec<span class=\"_ _0\"></span>urities are purc<span class=\"_ _0\"></span>hased f<span class=\"_ _0\"></span>rom third par<span class=\"_ _0\"></span>ties with an ob<span class=\"_ _0\"></span>ligation to res<span class=\"_ _0\"></span>ell the se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>. The se<span class=\"_ _0\"></span>curities are n<span class=\"_ _0\"></span>ot recogn<span class=\"_ _0\"></span>ised as fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets on th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posi<span class=\"_ _0\"></span>tion, unle<span class=\"_ _0\"></span>ss the co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ty default<span class=\"_ _0\"></span>s on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the releva<span class=\"_ _0\"></span>nt agreem<span class=\"_ _0\"></span>ent. The r<span class=\"_ _0\"></span>ight to receive th<span class=\"_ _0\"></span>e return of any cash p<span class=\"_ _0\"></span>aid as purch<span class=\"_ _0\"></span>ase con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>lus interest is<span class=\"_ gs47\"> </span>rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as a financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t on the st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>E4.1<span class=\"_ _2\"></span> Financial instrument col<span class=\"_ _2\"></span>lateral arrangements<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has no fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l liabilities tha<span class=\"_ _0\"></span>t have been of<span class=\"_ _0\"></span>fset in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated financ<span class=\"_ _0\"></span>ial position a<span class=\"_ _0\"></span>s at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>202<span class=\"_ _2\"></span>4 (202<span class=\"_ _0\"></span>3: none).<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below c<span class=\"_ _0\"></span>ontains dis<span class=\"_ _0\"></span>closures re<span class=\"_ _0\"></span>lated to financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets and fin<span class=\"_ _0\"></span>ancial liabili<span class=\"_ _0\"></span>ties reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial pos<span class=\"_ _0\"></span>ition that are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to enforceabl<span class=\"_ _0\"></span>e master n<span class=\"_ _0\"></span>ettin<span class=\"_ _0\"></span>g arrange<span class=\"_ _0\"></span>ments or s<span class=\"_ _0\"></span>imilar agre<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>. Such a<span class=\"_ _0\"></span>greem<span class=\"_ _0\"></span>ents do not m<span class=\"_ _0\"></span>eet the crite<span class=\"_ _0\"></span>ria for<span class=\"_ gs47\"> </span>offs<span class=\"_ _0\"></span>ettin<span class=\"_ _0\"></span>g in the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition as the G<span class=\"_ _0\"></span>roup has no c<span class=\"_ _0\"></span>urrent leg<span class=\"_ _0\"></span>ally enforcea<span class=\"_ _0\"></span>ble right to off<span class=\"_ _0\"></span>set reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts. Furth<span class=\"_ _0\"></span>ermore, c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain related as<span class=\"_ _0\"></span>sets re<span class=\"_ _0\"></span>ceived a<span class=\"_ _0\"></span>s collatera<span class=\"_ _0\"></span>l under the ne<span class=\"_ _0\"></span>tting ar<span class=\"_ _0\"></span>rangem<span class=\"_ _0\"></span>ents will not b<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nised in th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on as the Group d<span class=\"_ _0\"></span>oes not have pe<span class=\"_ _0\"></span>rmissio<span class=\"_ _0\"></span>n to sell or re-p<span class=\"_ _0\"></span>ledge<span class=\"_ _0\"></span>, except in the c<span class=\"_ _0\"></span>ase of default<span class=\"_ _0\"></span>. Details of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ollateral arran<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nts in respe<span class=\"_ _0\"></span>ct of thes<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nised as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liabilities a<span class=\"_ _0\"></span>re provided be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w257 h245\" id=\"_35c94a99-556a-4112-890b-2a17a37af3a9\"><tr><td></td><td></td><td></td><td class=\"t m0 xac0 h29 y5d3a ff3 fs5 fc3 sc0 lsbe wsbe\">Related amounts<span class=\"_ _2\"></span> not offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xac1 h29 y5d3b ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>oss an<span class=\"_ _0\"></span>d net </td><td class=\"t m0 xac2 h29 y5d3b ff3 fs5 fc3 sc0 lsbe wsbe\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xac3 h29 y5d3c ff3 fs5 fc3 sc0 ls1 ws1\">am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s of </td><td class=\"t m0 x678 h29 y5d3c ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ins<span class=\"_ _0\"></span>trum<span class=\"_ _0\"></span>ent<span class=\"_ _0\"></span>s and </td><td></td></tr><tr><td></td><td class=\"t m0 xac4 h29 y5d3d ff3 fs5 fc3 sc0 lsa8 wsa3\">recognised </td><td class=\"t m0 x59e h29 y5d3d ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ca<span class=\"_ _0\"></span>sh col<span class=\"_ _0\"></span>late<span class=\"_ _0\"></span>ral </td><td class=\"t m0 x55c h29 y5d3d ff3 fs5 fc3 sc0 lsbe wsbe\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xac5 h29 y5d3e ff3 fs5 fc3 sc0 lsbe wsbe\">financial assets </td><td class=\"t m0 x799 h29 y5d3e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>eived<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x679 h29 y5d3e ff3 fs5 fc3 sc0 ls65 wsc0\">Derivative liabilities</td><td class=\"t m0 x5c0 h29 y5d3e ff3 fs5 fc3 sc0 ls22 ws24\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5d3f ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5d3f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d40 ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d08 w539 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa86 y5d08 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac6 y5d08 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">759<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac7 y5d08 w50 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac8 y5d08 w53b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 w53c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac9 y5c49 wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">113<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaca y5c49 w373 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacb y5c49 w4ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacc y5c49 w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w53d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Stock l<span class=\"_ _0\"></span>ending<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacd y5c15 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,15<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xace y5c15 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,15<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xacf y5c15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad0 y5c15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w53e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Repurc<span class=\"_ _0\"></span>hase arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad1 y5c07 w27e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">151<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad2 y5c07 w27e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">151<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad3 y5c07 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad4 y5c07 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad5 y5a16 wf9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad6 y5a16 w10e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,1<span class=\"_ _0\"></span>34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x282 y5a16 w436 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">1,55<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad7 y5a16 w540 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w257 h246\" id=\"_bc677ad0-758e-4bc1-9258-746ce7ffe2dd\"><tr><td></td><td></td><td></td><td class=\"t m0 xac0 h29 y5d41 ff3 fs5 fc3 sc0 lsbe wsbe\">Related amounts<span class=\"_ _2\"></span> not offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xac1 h29 y5d42 ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>oss an<span class=\"_ _0\"></span>d net </td><td class=\"t m0 xac2 h29 y5d42 ff3 fs5 fc3 sc0 lsbe wsbe\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xac3 h29 y5d43 ff3 fs5 fc3 sc0 ls1 ws1\">am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s of </td><td class=\"t m0 x678 h29 y5d43 ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ins<span class=\"_ _0\"></span>trum<span class=\"_ _0\"></span>ent<span class=\"_ _0\"></span>s and </td><td></td></tr><tr><td></td><td class=\"t m0 xac4 h29 y5d44 ff3 fs5 fc3 sc0 lsa8 wsa3\">recognised </td><td class=\"t m0 x59e h29 y5d44 ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">ca<span class=\"_ _0\"></span>sh col<span class=\"_ _0\"></span>late<span class=\"_ _0\"></span>ral </td><td class=\"t m0 x55c h29 y5d44 ff3 fs5 fc3 sc0 lsbe wsbe\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x648 h29 y5d45 ff3 fs5 fc3 sc0 ls65 wsc0\">financial liabilities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 h29 y5d45 ff3 fs5 fc3 sc0 lsca wsca\">pledged<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c6 h29 y5d45 ff3 fs5 fc3 sc0 ls22 ws24\">Derivative asset<span class=\"_ _0\"></span>s</td><td class=\"t m0 x5c0 h29 y5d45 ff3 fs5 fc3 sc0 ls22 ws24\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5d46 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5d46 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d47 ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c15 w539 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad8 y5c15 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,9<span class=\"_ _0\"></span>83<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad9 y5c15 w1ee h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,305<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xada y5c15 w50 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadb y5c15 w4e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">141<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c4b w53c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac9 y5c4b w116 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadc y5c4b w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadd y5c4b w345 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xade y5c4b wc6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xad5 y5a16 w355 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xadf y5a16 w131 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>,31<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ca y5a16 w436 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,554<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae0 y5a16 w277 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w541 h247\" id=\"_40d39550-3781-40aa-b8d4-df33fa042fc0\"><tr><td></td><td></td><td></td><td class=\"t m0 xae1 ha y5d48 ff2 fs5 fc3 sc0 ls10c ws10d\">Relat<span class=\"_ _2\"></span>ed amounts no<span class=\"_ _2\"></span>t offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xae2 ha y5d49 ff2 fs5 fc3 sc0 ls1 ws1\">Gro<span class=\"_ _0\"></span>ss and n<span class=\"_ _0\"></span>et </td><td class=\"t m0 x799 ha y5d49 ff2 fs5 fc3 sc0 ls11 ws11\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xae3 ha y5d4a ff2 fs5 fc3 sc0 ls1 ws1\">amo<span class=\"_ _0\"></span>unts of </td><td class=\"t m0 x57d ha y5d4a ff2 fs5 fc3 sc0 ls21 ws23\" colspan=\"2\">instr<span class=\"_ _0\"></span>uments and </td><td></td></tr><tr><td></td><td class=\"t m0 xac3 ha y5d4b ff2 fs5 fc3 sc0 ls10c ws10d\">recognised<span class=\"_ _2\"></span> </td><td class=\"t m0 xae4 ha y5d4b ff2 fs5 fc3 sc0 ls11 ws11\" colspan=\"2\">cash collateral </td><td class=\"t m0 x55c ha y5d4b ff2 fs5 fc3 sc0 ls65 wsc0\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xae5 ha y5d4c ff2 fs5 fc3 sc0 ls65 wsc0\">financial assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 ha y5d4c ff2 fs5 fc3 sc0 ls1ee ws20d\">recei<span class=\"_ _2\"></span>ved<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y5d4c ff2 fs5 fc3 sc0 ls22 ws24\">Derivative liabilities</td><td class=\"t m0 xae6 ha y5d4c ff2 fs5 fc3 sc0 ls21 ws23\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5d4d ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d4d ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d4e ff3 fs6 fc3 sc0 ls5f ws122\">Financial assets<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5afa w539 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae7 y5afa w542 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2,629<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae8 y5afa w249 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">976<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2a4 y5afa wf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,459<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae9 y5afa wc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">194<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c22 w53c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaea y5c22 w1c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaeb y5c22 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaec y5c22 wb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaed y5c22 w25c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">76<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a29 w53d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Stock l<span class=\"_ _0\"></span>ending<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaee y5a29 w543 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">836<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaef y5a29 w544 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf0 y5a29 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf1 y5a29 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a2a w53e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Repurc<span class=\"_ _0\"></span>hase arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf2 y5a2a wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf3 y5a2a wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf4 y5a2a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf5 y5a2a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf6 y5a16 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,70<span class=\"_ _1\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf7 y5a16 w526 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf8 y5a16 w545 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95f y5a16 w546 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">270<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w547 h248\" id=\"_d386ab1b-0e7d-4746-8ddb-68451bf9d865\"><tr><td></td><td></td><td></td><td class=\"t m0 xaf9 ha y5d4f ff2 fs5 fc3 sc0 ls10c ws10d\">Relat<span class=\"_ _2\"></span>ed amounts no<span class=\"_ _2\"></span>t offset<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xafa ha y5d50 ff2 fs5 fc3 sc0 ls1 ws1\">Gro<span class=\"_ _0\"></span>ss and n<span class=\"_ _0\"></span>et </td><td class=\"t m0 x799 ha y5d50 ff2 fs5 fc3 sc0 ls11 ws11\">Financial </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xae3 ha y5d51 ff2 fs5 fc3 sc0 ls1 ws1\">amo<span class=\"_ _0\"></span>unts of </td><td class=\"t m0 x57d ha y5d51 ff2 fs5 fc3 sc0 ls21 ws23\" colspan=\"2\">instr<span class=\"_ _0\"></span>uments and </td><td></td></tr><tr><td></td><td class=\"t m0 xae3 ha y5d52 ff2 fs5 fc3 sc0 ls10c ws10d\">recognised<span class=\"_ _2\"></span> </td><td class=\"t m0 xafb ha y5d52 ff2 fs5 fc3 sc0 ls11 ws11\" colspan=\"2\">cash collateral </td><td class=\"t m0 xafc ha y5d52 ff2 fs5 fc3 sc0 ls65 wsc0\">Net<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xafd ha y5d53 ff2 fs5 fc3 sc0 ls21 ws23\">financi<span class=\"_ _0\"></span>al<span class=\"_ _2\"></span> li<span class=\"_ _0\"></span>abilities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe ha y5d53 ff2 fs5 fc3 sc0 lsa8 wsa3\">pledged<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f ha y5d53 ff2 fs5 fc3 sc0 ls22 ws24\">Derivative assets</td><td class=\"t m0 xaff ha y5d53 ff2 fs5 fc3 sc0 ls21 ws23\"> amount<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5d54 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb01 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d54 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5d55 ff3 fs6 fc3 sc0 ls1a ws1b\">Financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a29 w539 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae7 y5a29 w548 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">3,1<span class=\"_ _0\"></span>26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb03 y5a29 w107 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>520<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x724 y5a29 w526 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb04 y5a29 w20c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a2a w53c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Exch<span class=\"_ _0\"></span>ange traded de<span class=\"_ _0\"></span>riv<span class=\"_ _2\"></span>atives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaea y5a2a wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb05 y5a2a w199 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb06 y5a2a wb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x63d y5a2a w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w53f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb07 y5a16 w145 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>342<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb08 y5a16 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,588<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb09 y5a16 w545 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0a y5a16 w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">267<span class=\"_ _3bd\"> </span></div></td></tr></table>E4.2 Derivativ<span class=\"_ _2\"></span>e collateral ar<span class=\"_ _2\"></span>rangements<span class=\"_ _3bd\"> </span>Assets accep<span class=\"_ _2\"></span>ted<span class=\"_ _3bd\"> </span>It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al to mitigate th<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk related to over<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>e-co<span class=\"_ _0\"></span>unter (\u2018OT<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>\u2019) de<span class=\"_ _0\"></span>rivatives usu<span class=\"_ _0\"></span>ally in the form of<span class=\"_ gs47\"> </span>cas<span class=\"_ _0\"></span>h or marketable fin<span class=\"_ _0\"></span>ancial ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s acce<span class=\"_ _0\"></span>pted as<span class=\"_ gs47\"> </span>coll<span class=\"_ _0\"></span>ateral for OT<span class=\"_ _2\"></span>C deri<span class=\"_ _0\"></span>vatives but not re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position amo<span class=\"_ _0\"></span>unts to \u00a3377 milli<span class=\"_ _0\"></span>on (2023: \u00a350<span class=\"_ _0\"></span>5 million). The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities from c<span class=\"_ _0\"></span>ash collater<span class=\"_ _0\"></span>al receive<span class=\"_ _0\"></span>d at 31 Dec<span class=\"_ _0\"></span>ember a<span class=\"_ _0\"></span>re set<span class=\"_ gs47\"> </span>out<span class=\"_ gs47\"> </span>be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w536 h244\" id=\"_4ea3c6c5-c20b-43e1-9bb8-f51c01cf8a78\"><tr><td></td><td class=\"t m0 x1ce ha y5d37 ff2 fs5 fc3 sc0 ls22 ws24\">OT<span class=\"_ _2\"></span>C derivatives<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y5d38 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y5d38 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y5d39 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5d39 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a15 w3c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabc y5a15 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">790<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabd y5a15 w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">971<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w537 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabe y5a16 w426 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(<span class=\"_ _0\"></span>790)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xabf y5a16 w538 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>971<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>The m<span class=\"_ _0\"></span>aximum exp<span class=\"_ _0\"></span>osure to credit ri<span class=\"_ _0\"></span>sk in respe<span class=\"_ _0\"></span>ct of O<span class=\"_ _2\"></span>TC derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s is \u00a32,4<span class=\"_ _0\"></span>87 million (2023: \u00a3<span class=\"_ _0\"></span>2,62<span class=\"_ _0\"></span>9 million) of which cre<span class=\"_ _0\"></span>dit risk of \u00a32,<span class=\"_ _0\"></span>29<span class=\"_ _0\"></span>6 million (2023<span class=\"_ _0\"></span>: \u00a32,4<span class=\"_ _0\"></span>34 million) is mitig<span class=\"_ _0\"></span>ated by use of co<span class=\"_ _0\"></span>llateral arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nts (which are set<span class=\"_ _0\"></span>tled n<span class=\"_ _0\"></span>et after t<span class=\"_ _0\"></span>aking acc<span class=\"_ _0\"></span>ount of any O<span class=\"_ _2\"></span>TC derivati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e li<span class=\"_ _0\"></span>abilities owed to th<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span>Credit r<span class=\"_ _0\"></span>isk on exchan<span class=\"_ _0\"></span>ge trade<span class=\"_ _0\"></span>d derivative as<span class=\"_ _0\"></span>sets of \u00a3<span class=\"_ _0\"></span>113 million (2023<span class=\"_ _0\"></span>: \u00a3137 million) is mitig<span class=\"_ _0\"></span>ated throu<span class=\"_ _0\"></span>gh regula<span class=\"_ _0\"></span>r margining an<span class=\"_ _0\"></span>d the protec<span class=\"_ _0\"></span>tion offere<span class=\"_ _0\"></span>d by the exchan<span class=\"_ _0\"></span>ge.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls55 ws144 gs400\">Assets pl<span class=\"_ _2\"></span>edged </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs401\">The Gro<span class=\"_ _0\"></span>up pledg<span class=\"_ _0\"></span>es collater<span class=\"_ _0\"></span>al in respe<span class=\"_ _0\"></span>ct of its OT<span class=\"_ _2\"></span>C de<span class=\"_ _0\"></span>rivative liabilitie<span class=\"_ _0\"></span>s. The val<span class=\"_ _0\"></span>ue of asset<span class=\"_ _0\"></span>s pledg<span class=\"_ _0\"></span>ed at 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 in<span class=\"_ gs47\"> </span>re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f OTC </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs402\">deriva<span class=\"_ _0\"></span>tive liabilities of \u00a33<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>83 million (2<span class=\"_ _0\"></span>023: \u00a33<span class=\"_ _0\"></span>,126 million) amo<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to \u00a32,717 millio<span class=\"_ _0\"></span>n (2023: \u00a31<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>936 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs403\">E4.3 Stock lending<span class=\"_ _2\"></span> collateral arrangements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs404\">The Gro<span class=\"_ _0\"></span>up lends lis<span class=\"_ _0\"></span>ted finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets held in i<span class=\"_ _0\"></span>ts investm<span class=\"_ _0\"></span>ent por<span class=\"_ _0\"></span>tfolio to othe<span class=\"_ _0\"></span>r institut<span class=\"_ _0\"></span>ions. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs405\">The Gro<span class=\"_ _0\"></span>up conduc<span class=\"_ _0\"></span>ts sto<span class=\"_ _0\"></span>ck lendin<span class=\"_ _0\"></span>g only with well-<span class=\"_ _0\"></span>estab<span class=\"_ _0\"></span>lished<span class=\"_ _0\"></span>, reputabl<span class=\"_ _0\"></span>e institut<span class=\"_ _0\"></span>ions in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th esta<span class=\"_ _0\"></span>blished m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onventions<span class=\"_ _0\"></span>. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs406\">finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets do not qu<span class=\"_ _0\"></span>alify for de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nition as the G<span class=\"_ _0\"></span>roup retains all th<span class=\"_ _0\"></span>e risks and rewa<span class=\"_ _0\"></span>rds of the trans<span class=\"_ _0\"></span>ferred as<span class=\"_ _0\"></span>sets exce<span class=\"_ _0\"></span>pt for the voting right<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs407\">It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al in stock l<span class=\"_ _0\"></span>ending tran<span class=\"_ _0\"></span>sact<span class=\"_ _0\"></span>ions, us<span class=\"_ _0\"></span>ually in the form of c<span class=\"_ _0\"></span>ash or marketab<span class=\"_ _0\"></span>le financia<span class=\"_ _0\"></span>l instrum<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs408\">The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s acce<span class=\"_ _0\"></span>pted as suc<span class=\"_ _0\"></span>h collateral b<span class=\"_ _0\"></span>ut not reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition amount<span class=\"_ _0\"></span>s to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs409\">\u00a31<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>4 million (2023<span class=\"_ _0\"></span>: \u00a3897 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs40a\">The m<span class=\"_ _0\"></span>aximum exp<span class=\"_ _0\"></span>osure to credit ri<span class=\"_ _0\"></span>sk in respe<span class=\"_ _0\"></span>ct of stock l<span class=\"_ _0\"></span>ending tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ions is \u00a31<span class=\"_ _0\"></span>,156 million (2<span class=\"_ _0\"></span>023: \u00a383<span class=\"_ _0\"></span>6 million) of which cre<span class=\"_ _0\"></span>dit risk </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs40b\">of<span class=\"_ gs47\"> </span>\u00a31<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>56 million (20<span class=\"_ _0\"></span>23: \u00a383<span class=\"_ _0\"></span>3 million) is mitigate<span class=\"_ _0\"></span>d through th<span class=\"_ _0\"></span>e use of collater<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs40c\">E4.4 Other collateral<span class=\"_ _2\"></span> arrangements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs40d\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>ad entered into rever<span class=\"_ _0\"></span>se repurc<span class=\"_ _0\"></span>hase tran<span class=\"_ _0\"></span>sacti<span class=\"_ _0\"></span>ons under whi<span class=\"_ _0\"></span>ch it purcha<span class=\"_ _0\"></span>sed se<span class=\"_ _0\"></span>curities an<span class=\"_ _0\"></span>d had taken on th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs40e\">oblig<span class=\"_ _0\"></span>ation to resell th<span class=\"_ _0\"></span>e secur<span class=\"_ _0\"></span>ities. Th<span class=\"_ _0\"></span>e fair value of the fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>ccepted a<span class=\"_ _0\"></span>s collatera<span class=\"_ _0\"></span>l in respec<span class=\"_ _0\"></span>t of these tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>, but not rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs40f\">in<span class=\"_ gs47\"> </span>the s<span class=\"_ _0\"></span>tatement of co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position<span class=\"_ _0\"></span>, is \u00a3151 million (2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>00 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs410\">The m<span class=\"_ _0\"></span>aximum exp<span class=\"_ _0\"></span>osure to credit ri<span class=\"_ _0\"></span>sk in respe<span class=\"_ _0\"></span>ct of reverse re<span class=\"_ _0\"></span>purchas<span class=\"_ _0\"></span>e transa<span class=\"_ _0\"></span>ctions is \u00a3<span class=\"_ _0\"></span>151 million (2023<span class=\"_ _0\"></span>: \u00a310<span class=\"_ _0\"></span>0 million) of which cre<span class=\"_ _0\"></span>dit risk of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs411\">\u00a31<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>1<span class=\"_ gs47\"> </span>milli<span class=\"_ _0\"></span>on (2023: \u00a31<span class=\"_ _0\"></span>00 million) is m<span class=\"_ _0\"></span>itigated th<span class=\"_ _0\"></span>rough the us<span class=\"_ _0\"></span>e of collateral a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs412\">Det<span class=\"_ _0\"></span>ails of collatera<span class=\"_ _0\"></span>l receive<span class=\"_ _0\"></span>d to mitigate the c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ty ri<span class=\"_ _0\"></span>sk arising from t<span class=\"_ _0\"></span>he Group\u2019s reinsuran<span class=\"_ _0\"></span>ce trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s is given in note F1<span class=\"_ _0\"></span>0.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs413\">Coll<span class=\"_ _0\"></span>ateral has al<span class=\"_ _0\"></span>so bee<span class=\"_ _0\"></span>n pledge<span class=\"_ _0\"></span>d and cha<span class=\"_ _0\"></span>rges have be<span class=\"_ _0\"></span>en grante<span class=\"_ _0\"></span>d in respec<span class=\"_ _0\"></span>t of cer<span class=\"_ _0\"></span>tain Group b<span class=\"_ _0\"></span>orrowings<span class=\"_ _0\"></span>. The deta<span class=\"_ _0\"></span>ils of these arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents are<span class=\"_ gs47\"> </span>se<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs414\">out in n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te E5<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls35 ws32 gs741\">F10. Collateral arrangement<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs742\">It is the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>actice to o<span class=\"_ _0\"></span>btain collater<span class=\"_ _0\"></span>al to mitigate th<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk related to re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e transa<span class=\"_ _0\"></span>ctions u<span class=\"_ _0\"></span>sually in the form of c<span class=\"_ _0\"></span>ash </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs743\">or<span class=\"_ gs47\"> </span>marketa<span class=\"_ _0\"></span>ble financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b5\">Where t<span class=\"_ _0\"></span>he Group rec<span class=\"_ _0\"></span>eives collate<span class=\"_ _0\"></span>ral in the form of mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>eta<span class=\"_ _0\"></span>ble financi<span class=\"_ _0\"></span>al instrum<span class=\"_ _0\"></span>ents and c<span class=\"_ _0\"></span>ash hel<span class=\"_ _0\"></span>d by extern<span class=\"_ _0\"></span>al custo<span class=\"_ _0\"></span>dians, it i<span class=\"_ _0\"></span>s not reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b6\">st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition. T<span class=\"_ _0\"></span>he cash c<span class=\"_ _0\"></span>ollateral re<span class=\"_ _0\"></span>ceived is le<span class=\"_ _0\"></span>gally se<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ated from the Gro<span class=\"_ _0\"></span>up and con<span class=\"_ _0\"></span>sequent<span class=\"_ _0\"></span>ly the Group do<span class=\"_ _0\"></span>es </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b7\">not have the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>tual right to re<span class=\"_ _0\"></span>ceive the ca<span class=\"_ _0\"></span>sh flows<span class=\"_ _0\"></span>, and the bal<span class=\"_ _0\"></span>ances are n<span class=\"_ _0\"></span>ot available for inves<span class=\"_ _0\"></span>tment purp<span class=\"_ _0\"></span>oses<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs5b8\">The fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s acce<span class=\"_ _0\"></span>pted as coll<span class=\"_ _0\"></span>ateral for reins<span class=\"_ _0\"></span>urance tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions but n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs744\">posi<span class=\"_ _0\"></span>tion amount<span class=\"_ _0\"></span>s to \u00a35,<span class=\"_ _0\"></span>558 million (2<span class=\"_ _0\"></span>023: \u00a3<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>80 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>). </div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCollateralExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-675": {
   "value": "The Gro<span class=\"_ _0\"></span>up receive<span class=\"_ _0\"></span>s and pled<span class=\"_ _0\"></span>ges coll<span class=\"_ _0\"></span>ateral in the form of c<span class=\"_ _0\"></span>ash or non-<span class=\"_ _0\"></span>cash as<span class=\"_ _0\"></span>sets in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t of stock len<span class=\"_ _0\"></span>ding trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s, deri<span class=\"_ _0\"></span>vative contrac<span class=\"_ _0\"></span>ts and reins<span class=\"_ _0\"></span>urance arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents in orde<span class=\"_ _0\"></span>r t<span class=\"_ _2\"></span>o re<span class=\"_ _0\"></span>duce the c<span class=\"_ _0\"></span>redit risk of the<span class=\"_ _0\"></span>se trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s. The am<span class=\"_ _0\"></span>ount and t<span class=\"_ _0\"></span>ype of collate<span class=\"_ _0\"></span>ral require<span class=\"_ _0\"></span>d where the Gro<span class=\"_ _0\"></span>up rec<span class=\"_ _0\"></span>eives collater<span class=\"_ _0\"></span>al depen<span class=\"_ _0\"></span>ds on an as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of<span class=\"_ gs47\"> </span>the credi<span class=\"_ _0\"></span>t risk of the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y, but is usuall<span class=\"_ _0\"></span>y in the form of cash a<span class=\"_ _0\"></span>nd marketable s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Coll<span class=\"_ _0\"></span>ateral rec<span class=\"_ _0\"></span>eived in the form of c<span class=\"_ _0\"></span>ash, wh<span class=\"_ _0\"></span>ere the Group h<span class=\"_ _0\"></span>as contrac<span class=\"_ _0\"></span>tual rig<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s to receive th<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s gener<span class=\"_ _0\"></span>ated and is availa<span class=\"_ _0\"></span>ble to the Group for investm<span class=\"_ _0\"></span>ent purpo<span class=\"_ _0\"></span>ses, i<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised as a fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>set in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al position wi<span class=\"_ _0\"></span>th a corresp<span class=\"_ _0\"></span>onding fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>y for its re<span class=\"_ _0\"></span>payment. N<span class=\"_ _0\"></span>on-ca<span class=\"_ _0\"></span>sh collater<span class=\"_ _0\"></span>al receive<span class=\"_ _0\"></span>d is not reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial pos<span class=\"_ _0\"></span>ition, unle<span class=\"_ _0\"></span>ss the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y defaul<span class=\"_ _0\"></span>ts on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the<span class=\"_ gs47\"> </span>relev<span class=\"_ _0\"></span>ant agreem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>Non-<span class=\"_ _0\"></span>cash c<span class=\"_ _0\"></span>ollateral ple<span class=\"_ _0\"></span>dged w<span class=\"_ _0\"></span>here the Gro<span class=\"_ _0\"></span>up retains the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual rights to re<span class=\"_ _0\"></span>ceive the c<span class=\"_ _0\"></span>ash flows g<span class=\"_ _0\"></span>enerate<span class=\"_ _0\"></span>d is not dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed from the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial p<span class=\"_ _0\"></span>osition, un<span class=\"_ _0\"></span>less the G<span class=\"_ _0\"></span>roup default<span class=\"_ _0\"></span>s on its oblig<span class=\"_ _0\"></span>ations unde<span class=\"_ _0\"></span>r the relevant a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nt. Cash c<span class=\"_ _0\"></span>ollateral pl<span class=\"_ _0\"></span>edge<span class=\"_ _0\"></span>d, where t<span class=\"_ _0\"></span>he counterpa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y has cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al rights to re<span class=\"_ _0\"></span>ceive the ca<span class=\"_ _0\"></span>sh flows ge<span class=\"_ _0\"></span>nerated<span class=\"_ _0\"></span>, is derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d from the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated fi<span class=\"_ _0\"></span>nancial posi<span class=\"_ _0\"></span>tion and a corre<span class=\"_ _0\"></span>spondin<span class=\"_ _0\"></span>g receiva<span class=\"_ _0\"></span>ble is reco<span class=\"_ _0\"></span>gnised fo<span class=\"_ _0\"></span>r its return<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is also par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y to reverse rep<span class=\"_ _0\"></span>urchase a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nts under w<span class=\"_ _0\"></span>hich sec<span class=\"_ _0\"></span>urities are purc<span class=\"_ _0\"></span>hased f<span class=\"_ _0\"></span>rom third par<span class=\"_ _0\"></span>ties with an ob<span class=\"_ _0\"></span>ligation to res<span class=\"_ _0\"></span>ell the se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>. The se<span class=\"_ _0\"></span>curities are n<span class=\"_ _0\"></span>ot recogn<span class=\"_ _0\"></span>ised as fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets on th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posi<span class=\"_ _0\"></span>tion, unle<span class=\"_ _0\"></span>ss the co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ty default<span class=\"_ _0\"></span>s on its ob<span class=\"_ _0\"></span>ligations un<span class=\"_ _0\"></span>der the releva<span class=\"_ _0\"></span>nt agreem<span class=\"_ _0\"></span>ent. The r<span class=\"_ _0\"></span>ight to receive th<span class=\"_ _0\"></span>e return of any cash p<span class=\"_ _0\"></span>aid as purch<span class=\"_ _0\"></span>ase con<span class=\"_ _0\"></span>sideration p<span class=\"_ _0\"></span>lus interest is<span class=\"_ gs47\"> </span>rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as a financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>t on the st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCollateralExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-631": {
   "value": "E5. B<span class=\"_ _0\"></span>orrowings<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up class<span class=\"_ _0\"></span>ifies the ma<span class=\"_ _0\"></span>jorit<span class=\"_ _0\"></span>y of its interes<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>earing b<span class=\"_ _0\"></span>orrowings a<span class=\"_ _0\"></span>s financial lia<span class=\"_ _0\"></span>bilities ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cost a<span class=\"_ _0\"></span>nd these a<span class=\"_ _0\"></span>re recog<span class=\"_ _0\"></span>nised initiall<span class=\"_ _0\"></span>y at fair value les<span class=\"_ _0\"></span>s any direct<span class=\"_ _0\"></span>ly attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s. Th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween initial c<span class=\"_ _0\"></span>ost an<span class=\"_ _0\"></span>d the redempt<span class=\"_ _0\"></span>ion value is amo<span class=\"_ _0\"></span>rtis<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh the cons<span class=\"_ _0\"></span>olidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement over th<span class=\"_ _0\"></span>e period of the b<span class=\"_ _0\"></span>orrowing usin<span class=\"_ _0\"></span>g the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Ce<span class=\"_ _0\"></span>rtain b<span class=\"_ _0\"></span>orrowings are d<span class=\"_ _0\"></span>esignate<span class=\"_ _0\"></span>d upon initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion at fair value th<span class=\"_ _0\"></span>rough profit or lo<span class=\"_ _0\"></span>ss and me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value where d<span class=\"_ _0\"></span>oing so provide<span class=\"_ _0\"></span>s more m<span class=\"_ _0\"></span>eaningf<span class=\"_ _0\"></span>ul in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation due to the re<span class=\"_ _0\"></span>asons s<span class=\"_ _0\"></span>tated in th<span class=\"_ _0\"></span>e financial li<span class=\"_ _0\"></span>abilities ac<span class=\"_ _0\"></span>counting po<span class=\"_ _0\"></span>licy (see n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te E1<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s relating to borrow<span class=\"_ _0\"></span>ings desig<span class=\"_ _0\"></span>nated upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition at fa<span class=\"_ _0\"></span>ir value throug<span class=\"_ _0\"></span>h profit or loss a<span class=\"_ _0\"></span>re expens<span class=\"_ _0\"></span>ed as incur<span class=\"_ _0\"></span>red. Borrow<span class=\"_ _0\"></span>ings are cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s either po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er or shareh<span class=\"_ _0\"></span>older bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _0\"></span>. P<span class=\"_ _2\"></span>oli<span class=\"_ _0\"></span>cyholde<span class=\"_ _0\"></span>r borrowing<span class=\"_ _0\"></span>s are those b<span class=\"_ _0\"></span>orrowings wh<span class=\"_ _0\"></span>ere there is ei<span class=\"_ _0\"></span>ther no or limite<span class=\"_ _0\"></span>d shareh<span class=\"_ _0\"></span>older exp<span class=\"_ _0\"></span>osure, for examp<span class=\"_ _0\"></span>le, borrowin<span class=\"_ _0\"></span>gs at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e Group\u2019s with-profits o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>E5<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 A<span class=\"_ _0\"></span>nalys<span class=\"_ _0\"></span>is of borr<span class=\"_ _0\"></span>owings<span class=\"_ _3bd\"> </span><table class=\"s w54a h249\" id=\"_c3c12c21-617e-49f0-9ada-77b58c4b1b81\"><tr><td></td><td class=\"c n xb0b y5d56 w54b h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Carrying value<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xb0c y5d56 w54c h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x2fe h29 y5d57 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb0d ha y5d57 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x75e h29 y5d57 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ef ha y5d57 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x9e3 h29 y5d58 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48d ha y5d58 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a h29 y5d58 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5d58 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5a07 w54d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>00 million mul<span class=\"_ _0\"></span>ti-curren<span class=\"_ _0\"></span>cy revolving cre<span class=\"_ _0\"></span>dit facilit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0e y5a07 w25d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0f y5a07 w4d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb10 y5a07 w54e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb11 y5a07 w4d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d59 w54f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y reversion<span class=\"_ _0\"></span>s loan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb12 y5d59 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb13 hc y5d5a ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></td><td class=\"c n x771 y5d59 w267 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb14 y5d59 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5b w550 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er borrowing<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb15 y5d5b w277 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb16 y5d5b w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb17 y5d5b w540 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb18 y5d5b w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5c w551 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb19 y5d5c w1c1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1a y5d5c w552 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1b y5d5c w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">199<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1c y5d5c w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">202<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5bd4 w553 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1d y5bd4 w179 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1e y5bd4 w554 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">391<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1f y5bd4 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">399<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb20 y5bd4 w1c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5d w555 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb21 y5d5d w307 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb22 y5d5d w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">430<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb23 y5d5d w22e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">423<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb24 y5d5d w4da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5e w556 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent Conver<span class=\"_ _0\"></span>tible Tie<span class=\"_ _0\"></span>r 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb25 y5d5e w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">199<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb26 y5d5e w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">5<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb27 y5d5e w557 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb28 y5d5e w558 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">56<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5af9 w559 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb29 y5af9 w12a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2a y5af9 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2b y5af9 w261 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">485<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2c y5af9 w55a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">476<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5f w55b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2d y5d5f w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2e y5d5f w4b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2f y5d5f waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">275<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb30 y5d5f w100 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">262<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a68 w55c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb31 y5a68 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">529<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb32 y5a68 w55d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb33 y5a68 w55e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb34 y5a68 w12b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a69 w55f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb35 y5a69 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb36 y5a69 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb37 y5a69 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb38 y5a69 w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">239<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a6a w560 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb39 y5a6a w249 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">252<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3a y5a6a w320 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">253<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3b y5a6a w18b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3c y5a6a w320 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">250<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a6b w561 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable Tie<span class=\"_ _0\"></span>r 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3d y5a6b w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">3<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3e y5a6b w562 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3f y5a6b wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">367<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb40 y5a6b w4c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a27 w563 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual C<span class=\"_ _0\"></span>ontingent C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible Tier 1 n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb41 y5a27 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb42 y5a27 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb43 y5a27 w307 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb44 y5a27 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd9 w564 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal sh<span class=\"_ _0\"></span>areholde<span class=\"_ _0\"></span>r subordinate<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb45 y5bd9 w565 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>501<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb46 y5bd9 we4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb47 y5bd9 w2b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,509<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb48 y5bd9 w132 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">3,6<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w566 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal borr<span class=\"_ _2\"></span>owings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb49 y5b24 w567 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">3,6<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4a y5b24 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>892<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4b y5b24 w144 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,63<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4c y5b24 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w568 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt due for set<span class=\"_ _0\"></span>tlement af<span class=\"_ _0\"></span>ter 12 month<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4d y5a16 w569 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">3,3<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4e y5a16 w1a3 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,8<span class=\"_ _0\"></span>02<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr></table>On 1<span class=\"_ _0\"></span>8 November 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group rep<span class=\"_ _0\"></span>laced it<span class=\"_ _0\"></span>s \u00a31<span class=\"_ _0\"></span>.75 billion unse<span class=\"_ _0\"></span>cured revolvin<span class=\"_ _0\"></span>g credit fac<span class=\"_ _0\"></span>ility with a n<span class=\"_ _0\"></span>ew \u00a31.<span class=\"_ _0\"></span>5 billion uns<span class=\"_ _0\"></span>ecured revo<span class=\"_ _0\"></span>lving credit<span class=\"_ _3bd\"> </span>facili<span class=\"_ _0\"></span>ty (the \u2018revolving fa<span class=\"_ _0\"></span>cility<span class=\"_ _0\"></span>\u2019), matur<span class=\"_ _0\"></span>ing in Novembe<span class=\"_ _0\"></span>r 2029. Th<span class=\"_ _0\"></span>e new facilit<span class=\"_ _0\"></span>y remain<span class=\"_ _0\"></span>s undrawn as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024.<span class=\"_ _3bd\"> </span>Polic<span class=\"_ _2\"></span>yholder borrowings<span class=\"_ _3bd\"> </span>Patria Private Equi<span class=\"_ _0\"></span>ty T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t plc (\u2018<span class=\"_ _0\"></span>PPET<span class=\"_ _0\"></span>\u2019) (formerl<span class=\"_ _0\"></span>y known as abrdn Pri<span class=\"_ _0\"></span>vate Equity O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t plc) has in pl<span class=\"_ _0\"></span>ace a syndi<span class=\"_ _0\"></span>cated mult<span class=\"_ _0\"></span>i-currenc<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span>revolving c<span class=\"_ _0\"></span>redit facili<span class=\"_ _0\"></span>ty, of which \u00a39<span class=\"_ _0\"></span>0 million (2023: \u00a3<span class=\"_ _0\"></span>90 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>) h<span class=\"_ _0\"></span>ad bee<span class=\"_ _0\"></span>n drawn down as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024. The f<span class=\"_ _0\"></span>acilit<span class=\"_ _0\"></span>y term maturit<span class=\"_ _0\"></span>y is<span class=\"_ _3bd\"> </span>De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2025 and intere<span class=\"_ _0\"></span>st acc<span class=\"_ _0\"></span>rues at a marg<span class=\"_ _0\"></span>in ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the referenc<span class=\"_ _0\"></span>e rate of the curren<span class=\"_ _0\"></span>cy drawn.<span class=\"_ _3bd\"> </span>The Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Revers<span class=\"_ _0\"></span>ions loan from S<span class=\"_ _0\"></span>antand<span class=\"_ _0\"></span>er UK plc (<span class=\"_ _0\"></span>\u2018Sa<span class=\"_ _0\"></span>ntander<span class=\"_ _0\"></span>\u2019) was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts at fair valu<span class=\"_ _0\"></span>e. It relates<span class=\"_ _3bd\"> </span>to<span class=\"_ gs47\"> </span>the sa<span class=\"_ _0\"></span>le of Ex<span class=\"_ _0\"></span>tra-In<span class=\"_ _0\"></span>come Plan p<span class=\"_ _0\"></span>olicies th<span class=\"_ _0\"></span>at Santan<span class=\"_ _0\"></span>der financ<span class=\"_ _0\"></span>es to the value of th<span class=\"_ _0\"></span>e asso<span class=\"_ _0\"></span>ciated prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y reversio<span class=\"_ _0\"></span>ns. As p<span class=\"_ _0\"></span>art of the ar<span class=\"_ _0\"></span>rangem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span>Sant<span class=\"_ _0\"></span>ander re<span class=\"_ _0\"></span>ceives an am<span class=\"_ _0\"></span>ount calc<span class=\"_ _0\"></span>ulated by referen<span class=\"_ _0\"></span>ce to the moveme<span class=\"_ _0\"></span>nt in the Halifa<span class=\"_ _0\"></span>x House Pri<span class=\"_ _0\"></span>ce Index an<span class=\"_ _0\"></span>d the Group is re<span class=\"_ _0\"></span>quired to inde<span class=\"_ _0\"></span>mnify<span class=\"_ _3bd\"> </span>Sant<span class=\"_ _0\"></span>ander a<span class=\"_ _0\"></span>gainst p<span class=\"_ _0\"></span>rofits or los<span class=\"_ _0\"></span>ses arisin<span class=\"_ _0\"></span>g from mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y or surrend<span class=\"_ _0\"></span>er experie<span class=\"_ _0\"></span>nce which dif<span class=\"_ _0\"></span>fers fro<span class=\"_ _0\"></span>m the basis us<span class=\"_ _0\"></span>ed to calc<span class=\"_ _0\"></span>ulate the revers<span class=\"_ _0\"></span>ion<span class=\"_ _3bd\"> </span>amo<span class=\"_ _0\"></span>unt. During 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, repayment<span class=\"_ _0\"></span>s totalling \u00a31<span class=\"_ _0\"></span>6 million were m<span class=\"_ _0\"></span>ade (2023: \u00a3<span class=\"_ _0\"></span>21 million). Note G4 c<span class=\"_ _0\"></span>ontains det<span class=\"_ _0\"></span>ails of the ass<span class=\"_ _0\"></span>ets that s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t this loan<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Shareholder subordinated borrow<span class=\"_ _2\"></span>ings<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal feat<span class=\"_ _0\"></span>ures of the Group\u2019s subordin<span class=\"_ _0\"></span>ated borrowin<span class=\"_ _0\"></span>gs are deta<span class=\"_ _0\"></span>iled in the ta<span class=\"_ _0\"></span>ble below.<span class=\"_ _3bd\"> </span><table class=\"s w56a h24a\" id=\"_6c5b0bbc-b4f2-4839-a9c1-5a0775ee8cec\"><tr><td class=\"c n x1d4 y5d60 w56b h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb4f y5d60 w56c h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Nominal amount<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb50 y5d60 w56d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls65 wsc0\">Co<span class=\"_ _0\"></span>upon<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb51 y5d60 w56e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Maturit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5d61 w551 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes</div><div class=\"t m0 xb52 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb54 y5d61 w56f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">\u00a3<span class=\"_ _0\"></span>19<span class=\"_ _0\"></span>7m</div><div class=\"t m0 xb53 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb55 y5d61 w570 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">6.625%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb56 y5d61 w571 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">18 Dec<span class=\"_ _0\"></span>ember 202<span class=\"_ _2\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5d62 w572 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes</div><div class=\"t m0 xb57 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb58 y5d62 w573 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws186\">US $50<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb59 y5d62 w574 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">5.<span class=\"_ _0\"></span>375%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5a y5d62 w575 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">6 J<span class=\"_ _0\"></span>uly 2<span class=\"_ _2\"></span>027<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5d63 w576 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes</div><div class=\"t m0 xb5b h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb54 y5d63 w577 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">\u20ac50<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5c y5d63 w578 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.<span class=\"_ _0\"></span>3<span class=\"_ _2\"></span>75%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5d y5d63 w579 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">2<span class=\"_ _2\"></span>4 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2<span class=\"_ _2\"></span>029<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d64 w556 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent Conver<span class=\"_ _0\"></span>tible Tie<span class=\"_ _0\"></span>r 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb5e y5d64 w57a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws88\">U<span class=\"_ _0\"></span>S<span class=\"_ _0\"></span> $<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></div></td><td class=\"c x7f1 y5d64 w57b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">5.625%</div><div class=\"t m0 xb5f h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb60 hc y5d65 ff2 fs6 fc3 sc0 ls1dd ws1f7\">Per<span class=\"_ _0\"></span>pet<span class=\"_ _0\"></span>ual<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb61 hc y5d66 ff2 fs6 fc3 sc0 ls17f ws1\">2<span class=\"_ _2\"></span>8 Apr<span class=\"_ _0\"></span>il 2<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>1 (with option<span class=\"_ _0\"></span>al </td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb62 hc y5d67 ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption from </td></tr><tr><td class=\"c n x1d4 y5d68 w559 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb63 y5d68 w57c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">\u00a350<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb64 y5d68 w57d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">5.625%<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb65 hc y5d69 ff2 fs6 fc3 sc0 ls17f ws192\">2<span class=\"_ _2\"></span>8<span class=\"_ gs47\"> </span>Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y<span class=\"_ gs47\"> </span>2<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>1)<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x679 hc y5d6a ff2 fs6 fc3 sc0 ls17f ws1\">4 Se<span class=\"_ _0\"></span>ptember 203<span class=\"_ _4\"></span>1 (with<span class=\"_ gs47\"> </span>o<span class=\"_ _0\"></span>ptional </td></tr><tr><td></td><td></td><td class=\"t m0 x578 hc y5d6b ff2 fs6 fc3 sc0 ls17f ws1\">4.<span class=\"_ _4\"></span>75<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span>% up to reset date </td><td class=\"t m0 x679 hc y5d6c ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption bet<span class=\"_ _0\"></span>ween 4 J<span class=\"_ _0\"></span>une and </td></tr><tr><td class=\"c n x1d4 y5d6d w55b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e Tier 2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb67 y5d6d w57e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws11\">US $3<span class=\"_ _4\"></span>50m</div><div class=\"t m0 xb66 h11 y5d6e ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x67c hc y5d6f ff2 fs6 fc3 sc0 ls17f ws1\">of<span class=\"_ gs47\"> </span>4<span class=\"_ gs47\"> </span>Septe<span class=\"_ _0\"></span>mber 202<span class=\"_ _2\"></span>6<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb68 hc y5d70 ff2 fs6 fc3 sc0 ls17f ws1\">4 Se<span class=\"_ _0\"></span>ptember 202<span class=\"_ _2\"></span>6)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5d71 w57f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note</div><div class=\"t m0 xb69 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6a y5d72 w580 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">\u00a350<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6b y5d72 w581 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">5.8<span class=\"_ _0\"></span>67%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6c y5d72 w582 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">13 Jun<span class=\"_ _0\"></span>e 2<span class=\"_ _2\"></span>029<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb6d hc y5d73 ff2 fs6 fc3 sc0 ls17f ws1\">13 June 202<span class=\"_ _2\"></span>9 (with opt<span class=\"_ _0\"></span>ion to call </td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb61 hc y5d74 ff2 fs6 fc3 sc0 ls17f ws1\">on 13 June 202<span class=\"_ _4\"></span>4 w<span class=\"_ _0\"></span>hich the </td></tr><tr><td class=\"c x1d4 y5d75 w583 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able Tier 2 n<span class=\"_ _0\"></span>otes</div><div class=\"t m0 xb6e h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb70 y5d75 w584 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">\u2013</div><div class=\"t m0 xb6f h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xae1 hc y5d76 ff2 fs6 fc3 sc0 ls1ba ws1cd\">5<span class=\"_ _0\"></span>.76<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x737 hc y5d77 ff2 fs6 fc3 sc0 ls17b wsc8\">Co<span class=\"_ _0\"></span>mpany e<span class=\"_ _0\"></span>xercis<span class=\"_ _0\"></span>ed)<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5d78 w585 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes</div><div class=\"t m0 xb71 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb6a y5d78 w586 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">\u00a3<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb72 y5d78 w587 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">4.016<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb73 y5d78 w588 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">1<span class=\"_ _2\"></span>3 J<span class=\"_ _0\"></span>une 20<span class=\"_ _2\"></span>26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb74 hc y5d79 ff2 fs6 fc3 sc0 ls17f ws1\">6 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2<span class=\"_ _2\"></span>053 (with optiona<span class=\"_ _0\"></span>l </td></tr><tr><td></td><td></td><td class=\"t m0 xafa hc y5d7a ff2 fs6 fc3 sc0 ls17f ws1\">7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>750% up to reset da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e of </td><td class=\"t m0 x679 hc y5d7b ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption bet<span class=\"_ _0\"></span>ween 6 J<span class=\"_ _0\"></span>une and </td></tr><tr><td class=\"c n x1d4 y5d7c w561 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable Tie<span class=\"_ _0\"></span>r 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb75 y5d7c w32a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">\u00a335<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c xb77 y5d7c w589 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">6<span class=\"_ gs47\"> </span>De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2<span class=\"_ _2\"></span>033</div><div class=\"t m0 xb76 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xb78 hc y5d7d ff2 fs6 fc3 sc0 ls17f ws1\">6 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2<span class=\"_ _2\"></span>033<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x7a7 hc y5d7e ff2 fs6 fc3 sc0 ls56 wsd\">Perpetual (with optional </td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x55b hc y5d7f ff2 fs6 fc3 sc0 ls17f ws1\">rede<span class=\"_ _0\"></span>mption bet<span class=\"_ _0\"></span>ween </td></tr><tr><td></td><td></td><td class=\"t m0 xb79 hc y5d80 ff2 fs6 fc3 sc0 ls17f ws1\">8.<span class=\"_ _2\"></span>50<span class=\"_ _0\"></span>0% up to first re<span class=\"_ _0\"></span>set date </td><td class=\"t m0 x729 hc y5d81 ff2 fs6 fc3 sc0 ls17f ws1\">12<span class=\"_ gs47\"> </span>Dec<span class=\"_ _0\"></span>ember 2029 and </td></tr><tr><td class=\"c n x1d4 y5a16 w563 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual C<span class=\"_ _0\"></span>ontingent C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible Tier 1 n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb7a y5a16 w573 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws186\">US $50<span class=\"_ _0\"></span>0m<span class=\"_ _3bd\"> </span></div></td><td class=\"c x866 y5a16 w58a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">of 12 June 2030</div><div class=\"t m0 xb7b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x245 hc y5d82 ff2 fs6 fc3 sc0 ls17f ws192\">12<span class=\"_ gs47\"> </span>June<span class=\"_ gs47\"> </span>2030)<span class=\"_ _3bd\"> </span></td></tr></table>3<span class=\"_ _3bd\"> </span>1 <span class=\"_ _9\"> </span>The C<span class=\"_ _0\"></span>ompa<span class=\"_ _0\"></span>ny was sub<span class=\"_ _0\"></span>stit<span class=\"_ _0\"></span>uted a<span class=\"_ _0\"></span>s issu<span class=\"_ _0\"></span>er on 12 D<span class=\"_ _0\"></span>ece<span class=\"_ _0\"></span>mber 2<span class=\"_ _0\"></span>018<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>O<span class=\"_ _0\"></span>n 7 Dece<span class=\"_ _0\"></span>mbe<span class=\"_ _0\"></span>r 2023<span class=\"_ _0\"></span>, the C<span class=\"_ _0\"></span>ompany r<span class=\"_ _0\"></span>epurc<span class=\"_ _0\"></span>has<span class=\"_ _0\"></span>ed \u00a323<span class=\"_ _0\"></span>1 millio<span class=\"_ _0\"></span>n of the or<span class=\"_ _0\"></span>igina<span class=\"_ _0\"></span>l \u00a3<span class=\"_ _2\"></span>42<span class=\"_ _0\"></span>8m pri<span class=\"_ _0\"></span>ncipa<span class=\"_ _0\"></span>l amou<span class=\"_ _0\"></span>nt of the n<span class=\"_ _0\"></span>otes via a t<span class=\"_ _0\"></span>ende<span class=\"_ _0\"></span>r offer.<span class=\"_ _3bd\"> </span>3 <span class=\"_ _1a\"> </span>On 1<span class=\"_ _0\"></span>8 Jun<span class=\"_ _0\"></span>e 2024, th<span class=\"_ _0\"></span>e Comp<span class=\"_ _0\"></span>any rep<span class=\"_ _0\"></span>urch<span class=\"_ _0\"></span>ased U<span class=\"_ _0\"></span>S $50<span class=\"_ _0\"></span>0 milli<span class=\"_ _0\"></span>on of the o<span class=\"_ _0\"></span>rigin<span class=\"_ _0\"></span>al $75<span class=\"_ _0\"></span>0m prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l amoun<span class=\"_ _0\"></span>t of the not<span class=\"_ _0\"></span>es via a te<span class=\"_ _0\"></span>nder of<span class=\"_ _0\"></span>fer.<span class=\"_ _3bd\"> </span>4  I<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st is ca<span class=\"_ _0\"></span>nce<span class=\"_ _0\"></span>llabl<span class=\"_ _0\"></span>e at the ab<span class=\"_ _0\"></span>solut<span class=\"_ _0\"></span>e discr<span class=\"_ _0\"></span>etion of t<span class=\"_ _0\"></span>he Com<span class=\"_ _0\"></span>pany.<span class=\"_ _3bd\"> </span>5 <span class=\"_ _1a\"> </span>On 7 D<span class=\"_ _0\"></span>ece<span class=\"_ _0\"></span>mbe<span class=\"_ _0\"></span>r 2023<span class=\"_ _0\"></span>, the Co<span class=\"_ _0\"></span>mpany r<span class=\"_ _0\"></span>epurc<span class=\"_ _0\"></span>hase<span class=\"_ _0\"></span>d US $1<span class=\"_ _0\"></span>50 mil<span class=\"_ _0\"></span>lion of th<span class=\"_ _0\"></span>e origi<span class=\"_ _0\"></span>nal $<span class=\"_ _0\"></span>500<span class=\"_ _0\"></span>m princ<span class=\"_ _0\"></span>ipal am<span class=\"_ _0\"></span>ount of t<span class=\"_ _0\"></span>he note<span class=\"_ _0\"></span>s via a ten<span class=\"_ _0\"></span>der of<span class=\"_ _0\"></span>fer.<span class=\"_ _3bd\"> </span>6  Th<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany was s<span class=\"_ _0\"></span>ubst<span class=\"_ _0\"></span>itute<span class=\"_ _0\"></span>d as is<span class=\"_ _0\"></span>suer o<span class=\"_ _0\"></span>n 22 July 2<span class=\"_ _0\"></span>020 on a<span class=\"_ _0\"></span>cquis<span class=\"_ _0\"></span>ition o<span class=\"_ _0\"></span>f ReAs<span class=\"_ _0\"></span>sure Gro<span class=\"_ _0\"></span>up plc a<span class=\"_ _0\"></span>nd the n<span class=\"_ _0\"></span>otes wer<span class=\"_ _0\"></span>e reco<span class=\"_ _0\"></span>gnis<span class=\"_ _0\"></span>ed at fa<span class=\"_ _0\"></span>ir value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>7 <span class=\"_ _c2\"> </span>O<span class=\"_ _0\"></span>n 13 Jun<span class=\"_ _0\"></span>e 2024, th<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany re<span class=\"_ _0\"></span>deem<span class=\"_ _0\"></span>ed the \u00a3<span class=\"_ _0\"></span>250 m<span class=\"_ _0\"></span>illion n<span class=\"_ _0\"></span>otes at th<span class=\"_ _0\"></span>eir pr<span class=\"_ _0\"></span>incip<span class=\"_ _0\"></span>al amo<span class=\"_ _0\"></span>unt tog<span class=\"_ _0\"></span>ether w<span class=\"_ _0\"></span>ith ac<span class=\"_ _0\"></span>crue<span class=\"_ _0\"></span>d and unp<span class=\"_ _0\"></span>aid int<span class=\"_ _0\"></span>eres<span class=\"_ _0\"></span>t to the re<span class=\"_ _0\"></span>dempt<span class=\"_ _0\"></span>ion date<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>8  I<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st is def<span class=\"_ _0\"></span>errab<span class=\"_ _0\"></span>le at the d<span class=\"_ _0\"></span>iscre<span class=\"_ _0\"></span>tion of t<span class=\"_ _0\"></span>he Com<span class=\"_ _0\"></span>pany<span class=\"_ _3bd\"> </span>.<span class=\"_ _3bd\"> </span>E5<span class=\"_ _0\"></span>.2 R<span class=\"_ _0\"></span>econc<span class=\"_ _0\"></span>iliat<span class=\"_ _0\"></span>ion of liab<span class=\"_ _0\"></span>ilitie<span class=\"_ _0\"></span>s arisin<span class=\"_ _0\"></span>g from fin<span class=\"_ _0\"></span>anci<span class=\"_ _0\"></span>ng act<span class=\"_ _0\"></span>ivitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below d<span class=\"_ _0\"></span>etails cha<span class=\"_ _0\"></span>nges in the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s liab<span class=\"_ _0\"></span>ilities arisin<span class=\"_ _0\"></span>g from financin<span class=\"_ _0\"></span>g activiti<span class=\"_ _0\"></span>es, inc<span class=\"_ _0\"></span>luding both c<span class=\"_ _0\"></span>ash and no<span class=\"_ _0\"></span>n-cas<span class=\"_ _0\"></span>h chang<span class=\"_ _0\"></span>es (<span class=\"_ _2\"></span>w<span class=\"_ _0\"></span>ith the<span class=\"_ _3bd\"> </span>excepti<span class=\"_ _0\"></span>on of lease liab<span class=\"_ _0\"></span>ilities, w<span class=\"_ _0\"></span>hich have bee<span class=\"_ _0\"></span>n include<span class=\"_ _0\"></span>d in note G9). Liabiliti<span class=\"_ _0\"></span>es arising fro<span class=\"_ _0\"></span>m financing a<span class=\"_ _0\"></span>ctivitie<span class=\"_ _0\"></span>s are those for whi<span class=\"_ _0\"></span>ch cash fl<span class=\"_ _0\"></span>ows were,<span class=\"_ _3bd\"> </span>or<span class=\"_ gs47\"> </span>fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s will be, cla<span class=\"_ _0\"></span>ssified in th<span class=\"_ _0\"></span>e Group\u2019s consolid<span class=\"_ _0\"></span>ated sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment of cas<span class=\"_ _0\"></span>h flows as ca<span class=\"_ _0\"></span>sh flows from finan<span class=\"_ _0\"></span>cing ac<span class=\"_ _0\"></span>tivities<span class=\"_ _0\"></span>.<table class=\"s w58b h24b\" id=\"_69e24061-1094-453a-9f71-402872d21bae\"><tr><td></td><td></td><td></td><td class=\"c n xb7c y5d83 w58c h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Cash movements<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xb7d y5d83 w58d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11a ws11c\">Non-cash mo<span class=\"_ _2\"></span>vements<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xb7e h29 y5d84 ff3 fs5 fc3 sc0 ls1 ws1\">New </td><td></td><td></td><td class=\"t m0 x6bd h29 y5d84 ff3 fs5 fc3 sc0 ls1 ws1\">Mov<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t in </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xb7f h29 y5d85 ff3 fs5 fc3 sc0 lsbe wsbe\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x936 h29 y5d85 ff3 fs5 fc3 sc0 ls1 ws1\">bo<span class=\"_ _0\"></span>rrowi<span class=\"_ _0\"></span>ngs<span class=\"_ _0\"></span>, net </td><td></td><td class=\"t m0 x9e3 h29 y5d85 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>s in fair </td><td class=\"t m0 x9de h29 y5d85 ff3 fs5 fc3 sc0 ls8d ws86\">foreign </td><td class=\"t m0 x497 h29 y5d85 ff3 fs5 fc3 sc0 ls1 ws1\">Ot<span class=\"_ _0\"></span>her </td><td class=\"t m0 xb80 h29 y5d86 ff3 fs5 fc3 sc0 ls1 ws1\">At 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td></tr><tr><td></td><td class=\"t m0 xb81 h29 y5d87 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2fc h29 y5d87 ff3 fs5 fc3 sc0 ls1 ws1\">of co<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2fd h29 y5d87 ff3 fs5 fc3 sc0 lsbe wsbe\">Repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa12 h29 y5d87 ff3 fs5 fc3 sc0 ls8d ws86\">value<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f6 h29 y5d87 ff3 fs5 fc3 sc0 ls21 ws23\">exchan<span class=\"_ _0\"></span>ge<span class=\"_ _3bd\"> </span></td><td class=\"c xb83 y5d88 w58e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsc4 wsc7\">movem<span class=\"_ _0\"></span>ents</div><div class=\"t m0 xb82 h31 y5d01 ff3 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x2ef h29 y5d89 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2fb h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x499 h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y5d8a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y5d8b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5d8b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5d8c ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>00 million mul<span class=\"_ _0\"></span>ti-curren<span class=\"_ _0\"></span>cy revolving </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5d8d w58f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">credi<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>facilit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb84 y5d8d w590 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb85 y5d8d w591 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb86 y5d8d w592 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(80<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb87 y5d8d we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb88 y5d8d w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb89 y5d8d w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8a y5d8d w25d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls13 ws14\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d8e w593 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Propert<span class=\"_ _0\"></span>y Reversions loan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8b y5d8e w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8c y5d8e w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8d y5d8e w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8e y5d8e wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8f y5d8e w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb90 y5d8e we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb91 y5d8e w3e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d8f w551 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb92 y5d8f w1c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb93 y5d8f w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb94 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb95 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb96 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb97 y5d8f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb98 y5d8f w24e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d90 w553 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb99 y5d90 w594 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">391<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9a y5d90 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9b y5d90 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9c y5d90 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9d y5d90 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9e y5d90 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb9f y5d90 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">399<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d91 w555 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba0 y5d91 w117 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">430<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba1 y5d91 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba2 y5d91 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba3 y5d91 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba4 y5d91 w4e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba5 y5d91 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba6 y5d91 w595 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">41<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d92 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d93 w596 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba7 y5d93 w2d8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">587<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba8 y5d93 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xba9 y5d93 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(39<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbaa y5d93 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbab y5d93 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbac y5d93 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbad y5d93 w2b1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">199<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d94 w559 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbae y5d94 w25a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbaf y5d94 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb0 y5d94 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb1 y5d94 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb2 y5d94 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb3 y5d94 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb4 y5d94 w284 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">490<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d95 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d96 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb5 y5d96 w598 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb6 y5d96 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb7 y5d96 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb8 y5d96 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbb9 y5d96 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbba y5d96 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbb y5d96 w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d97 w55c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbc y5d97 w2fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbd y5d97 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbe y5d97 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbbf y5d97 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc0 y5d97 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc1 y5d97 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc2 y5d97 w100 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">529<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d98 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d99 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc3 y5d99 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc4 y5d99 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc5 y5d99 w599 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc6 y5d99 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc7 y5d99 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc8 y5d99 w381 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbc9 y5d99 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d9a w560 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbca y5d9a w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcb y5d9a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcc y5d9a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcd y5d9a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbce y5d9a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61a y5d9a w4f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbcf y5d9a w27e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">252<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d9b ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d9c w597 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd0 y5d9c w59a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd1 y5d9c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd2 y5d9c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x896 y5d9c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd3 y5d9c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd4 y5d9c w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd5 y5d9c w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">3<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5d9d ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n P<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>petual C<span class=\"_ _0\"></span>ontingent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5d9e w596 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd6 y5d9e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd7 y5d9e w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd8 y5d9e we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbd9 y5d9e we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbda y5d9e w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdb y5d9e we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdc y5d9e wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">398<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d9f w59c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdd y5d9f w59d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,892<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbde y5d9f w92 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">47<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbdf y5d9f w4ba h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(739)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x41d y5d9f wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe0 y5d9f w4f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe1 y5d9f w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe2 y5d9f w143 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">3,<span class=\"_ _0\"></span>622<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5da1 w59e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t payable on b<span class=\"_ _0\"></span>orrowings</div><div class=\"t m0 xbe3 h11 y5da0 ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe4 y5b24 w5c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe5 y5b24 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe6 y5b24 w59f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">(21<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe7 y5b24 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe8 y5b24 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe9 y5b24 w540 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbea y5b24 w5a0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5c07 w5a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivative ass<span class=\"_ _0\"></span>ets</div><div class=\"t m0 xbeb h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbec y5b25 w5a2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(118<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbed y5b25 w16d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbee y5b25 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbef y5b25 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf0 y5b25 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf1 y5b25 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf2 y5b25 w66 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xbf3 y5a16 wda h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf4 y5a16 w5a3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">475<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf5 y5a16 w5a4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>957)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf6 y5a16 w2f0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf7 y5a16 w197 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf8 y5a16 w14e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">208<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf9 y5a16 w4b0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">3<span class=\"_ _0\"></span>,576<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Prin<span class=\"_ _0\"></span>cipal<span class=\"_ _0\"></span>ly comp<span class=\"_ _0\"></span>rise<span class=\"_ _0\"></span>s amor<span class=\"_ _0\"></span>tis<span class=\"_ _0\"></span>ation un<span class=\"_ _0\"></span>der th<span class=\"_ _0\"></span>e effe<span class=\"_ _0\"></span>ctive i<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st met<span class=\"_ _0\"></span>hod ap<span class=\"_ _0\"></span>plied t<span class=\"_ _0\"></span>o borro<span class=\"_ _0\"></span>wings h<span class=\"_ _0\"></span>eld at a<span class=\"_ _0\"></span>mor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. No int<span class=\"_ _0\"></span>eres<span class=\"_ _0\"></span>t was ca<span class=\"_ _0\"></span>pital<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n the yea<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span> Cr<span class=\"_ _0\"></span>oss cu<span class=\"_ _0\"></span>rrenc<span class=\"_ _0\"></span>y swap<span class=\"_ _0\"></span>s to hed<span class=\"_ _0\"></span>ge ag<span class=\"_ _0\"></span>ains<span class=\"_ _0\"></span>t adver<span class=\"_ _0\"></span>se cur<span class=\"_ _0\"></span>renc<span class=\"_ _0\"></span>y movem<span class=\"_ _0\"></span>ents in r<span class=\"_ _0\"></span>espe<span class=\"_ _0\"></span>ct of Gr<span class=\"_ _0\"></span>oup\u2019s Euro a<span class=\"_ _0\"></span>nd US Do<span class=\"_ _0\"></span>llar de<span class=\"_ _0\"></span>nomin<span class=\"_ _0\"></span>ated b<span class=\"_ _0\"></span>orrow<span class=\"_ _0\"></span>ings<span class=\"_ _0\"></span>. The<span class=\"_ _0\"></span>se ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts ar<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ted w<span class=\"_ _0\"></span>ithin th<span class=\"_ _0\"></span>e deri<span class=\"_ _0\"></span>vative b<span class=\"_ _0\"></span>alan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span>det<span class=\"_ _0\"></span>aile<span class=\"_ _0\"></span>d within n<span class=\"_ _0\"></span>ote E3<span class=\"_ _0\"></span>.1.<span class=\"_ _3bd\"> </span>3  O<span class=\"_ _0\"></span>ther movement repre<span class=\"_ _0\"></span>sents the non-c<span class=\"_ _0\"></span>ash movement in the interest liab<span class=\"_ _0\"></span>ility on borrowing<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span><table class=\"s w5a5 h24c\" id=\"_95dec0e4-2e3d-4825-b05f-af0978c0aa89\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5da2 w5a6 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">Cash mov<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xbfb y5da2 w5a7 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Non-cash mo<span class=\"_ _2\"></span>vements<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xb7e ha y5da3 ff2 fs5 fc3 sc0 ls11 ws11\">New<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 xb13 ha y5da3 ff2 fs5 fc3 sc0 ls21 ws23\">Moveme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> in<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xbfc ha y5da4 ff2 fs5 fc3 sc0 ls1 ws1\">At 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y </td><td class=\"t m0 x2ea ha y5da4 ff2 fs5 fc3 sc0 ls1 ws1\"> bo<span class=\"_ _0\"></span>rrowin<span class=\"_ _0\"></span>gs, n<span class=\"_ _0\"></span>et </td><td></td><td class=\"t m0 xbfd ha y5da4 ff2 fs5 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nge<span class=\"_ _0\"></span>s in fair </td><td class=\"t m0 x9de ha y5da4 ff2 fs5 fc3 sc0 ls8d ws86\"> foreign<span class=\"_ _2\"></span> </td><td class=\"t m0 x497 ha y5da4 ff2 fs5 fc3 sc0 ls4d wsbf\">Other </td><td class=\"t m0 xb80 ha y5da5 ff2 fs5 fc3 sc0 ls1 ws1\">At 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber </td></tr><tr><td></td><td class=\"t m0 xb81 ha y5da6 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 ha y5da6 ff2 fs5 fc3 sc0 ls1 ws1\">of co<span class=\"_ _0\"></span>sts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe ha y5da6 ff2 fs5 fc3 sc0 ls4d wsbf\">Repayments<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbff ha y5da6 ff2 fs5 fc3 sc0 ls11 ws11\">value<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 ha y5da6 ff2 fs5 fc3 sc0 ls54 ws7f\">exchange<span class=\"_ _3bd\"> </span></td><td class=\"c xc01 y5da7 w5a8 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">movements</div><div class=\"t m0 xc00 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x2ef ha y5da8 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2fb ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x499 ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 ha y5da9 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c ha y5daa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5daa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5dab ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>00 million mul<span class=\"_ _0\"></span>ti-curren<span class=\"_ _0\"></span>cy revolving cre<span class=\"_ _0\"></span>dit </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5dac w5a9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">facili<span class=\"_ _0\"></span>ty<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc02 y5dac w5aa h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">62<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc03 y5dac w51b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc04 y5dac w5ab h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc05 y5dac wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc06 y5dac wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc07 y5dac w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x512 y5dac w4d5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dad w593 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Propert<span class=\"_ _0\"></span>y Reversions loan<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb8b y5dad w154 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc08 y5dad wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc09 y5dad w598 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0a y5dad w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0b y5dad wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0c y5dad wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0d y5dad w1b8 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dae w551 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a34<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>8 million Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0e y5dae w5ac h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">427<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0f y5dae wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc10 y5dae w5ad h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>231<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc11 y5dae wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc12 y5dae wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc13 y5dae w96 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc14 y5dae w16f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">197<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5daf w553 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Tier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc15 y5daf w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc16 y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc17 y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc18 y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc19 y5daf w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1a y5daf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1b y5daf w5ae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">3<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5db0 w555 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u20ac5<span class=\"_ _0\"></span>00 million T<span class=\"_ _0\"></span>ier 2 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1c y5db0 w103 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">439<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1d y5db0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1e y5db0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1f y5db0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc20 y5db0 w1ae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc21 y5db0 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc22 y5db0 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">430<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5db1 ff2 fs6 fc3 sc0 ls1 ws1\">US $75<span class=\"_ _0\"></span>0 million Perpetu<span class=\"_ _0\"></span>al Conting<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5db2 w596 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc23 y5db2 w594 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">618<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc24 y5db2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc25 y5db2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc26 y5db2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc27 y5db2 w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc28 y5db2 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc29 y5db2 w70 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">587<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5db3 w559 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>625% Tier 2 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2a y5db3 w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2b y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2c y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2d y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2e y5db3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc2f y5db3 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc30 y5db3 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">489<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5db4 ff2 fs6 fc3 sc0 ls1 ws1\">US $<span class=\"_ _0\"></span>500 millio<span class=\"_ _0\"></span>n Fixed Rate Res<span class=\"_ _0\"></span>et Callabl<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5db5 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc31 y5db5 w4da h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc32 y5db5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc33 y5db5 w4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc34 y5db5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc35 y5db5 w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc36 y5db5 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc37 y5db5 w4b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5db6 w55c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a350<span class=\"_ _0\"></span>0 million 5.<span class=\"_ _0\"></span>867<span class=\"_ _0\"></span>% Tier 2 note<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc38 y5db6 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">543<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc39 y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3a y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3b y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3c y5db6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3d y5db6 w5af h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(<span class=\"_ _0\"></span>7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3e y5db6 w4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">5<span class=\"_ _0\"></span>36<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5db7 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Fixed R<span class=\"_ _0\"></span>ate Reset Call<span class=\"_ _0\"></span>able </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5db8 w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc3f y5db8 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc32 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc40 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc41 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc42 y5db8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc43 y5db8 w209 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc44 y5db8 w320 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">254<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5db9 w560 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u00a325<span class=\"_ _0\"></span>0 million Tier 3 n<span class=\"_ _0\"></span>otes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbca y5db9 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc45 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc46 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc47 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc48 y5db9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc49 y5db9 w5b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4a y5db9 w320 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">253<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5dba ff2 fs6 fc3 sc0 ls1 ws1\">\u00a33<span class=\"_ _0\"></span>50 million Fixe<span class=\"_ _0\"></span>d Rate Reset C<span class=\"_ _0\"></span>allable </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dbb w597 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Tie<span class=\"_ _0\"></span>r<span class=\"_ gs47\"> </span>2<span class=\"_ gs47\"> </span>notes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4b y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4c y5dbb w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">346<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4d y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4e y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc4f y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc50 y5dbb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc51 y5dbb w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">346<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dbc w59c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc52 y5dbc wdb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,9<span class=\"_ _0\"></span>80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc53 y5dbc w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc54 y5dbc w5b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>08)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc55 y5dbc w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc56 y5dbc wb9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>84)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc57 y5dbc w1b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc58 y5dbc w5b2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,892<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5dbd w59e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t payable on b<span class=\"_ _0\"></span>orrowings</div><div class=\"t m0 xbe3 h11 y5d6e ff2 fs9 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbe4 y5b24 w51b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc59 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5a y5b24 w5b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>03)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5b y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5c y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5d y5b24 w268 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">202<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5e y5b24 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5b25 w5a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivative ass<span class=\"_ _0\"></span>ets</div><div class=\"t m0 xbeb h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbec y5b25 w84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>225<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc5f y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc60 y5b25 w203 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc61 y5b25 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">108<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc62 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc63 y5b25 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc64 y5b25 w7e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(118)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xbf3 y5a16 w5b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">3,<span class=\"_ _0\"></span>819<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc65 y5a16 w50f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc66 y5a16 w5b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(61<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc67 y5a16 w378 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc68 y5a16 w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(8<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc69 y5a16 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc6a y5a16 w5b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">3<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Prin<span class=\"_ _0\"></span>cipal<span class=\"_ _0\"></span>ly comp<span class=\"_ _0\"></span>rise<span class=\"_ _0\"></span>s amor<span class=\"_ _0\"></span>tis<span class=\"_ _0\"></span>ation un<span class=\"_ _0\"></span>der th<span class=\"_ _0\"></span>e effe<span class=\"_ _0\"></span>ctive i<span class=\"_ _0\"></span>ntere<span class=\"_ _0\"></span>st met<span class=\"_ _0\"></span>hod ap<span class=\"_ _0\"></span>plied t<span class=\"_ _0\"></span>o borro<span class=\"_ _0\"></span>wings h<span class=\"_ _0\"></span>eld at a<span class=\"_ _0\"></span>mor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>. No int<span class=\"_ _0\"></span>eres<span class=\"_ _0\"></span>t was ca<span class=\"_ _0\"></span>pital<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n the yea<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>2  <span class=\"_ _0\"></span>Cros<span class=\"_ _0\"></span>s curre<span class=\"_ _0\"></span>ncy sw<span class=\"_ _0\"></span>aps to he<span class=\"_ _0\"></span>dge a<span class=\"_ _0\"></span>gain<span class=\"_ _0\"></span>st adv<span class=\"_ _0\"></span>erse c<span class=\"_ _0\"></span>urren<span class=\"_ _0\"></span>cy move<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s in res<span class=\"_ _0\"></span>pec<span class=\"_ _0\"></span>t of Group<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s Eu<span class=\"_ _0\"></span>ro and US D<span class=\"_ _0\"></span>olla<span class=\"_ _0\"></span>r denom<span class=\"_ _0\"></span>inate<span class=\"_ _0\"></span>d borr<span class=\"_ _0\"></span>owing<span class=\"_ _0\"></span>s. Th<span class=\"_ _0\"></span>ese in<span class=\"_ _0\"></span>stru<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s are rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d with<span class=\"_ _0\"></span>in the de<span class=\"_ _0\"></span>rivati<span class=\"_ _0\"></span>ve bala<span class=\"_ _0\"></span>nces det<span class=\"_ _0\"></span>aile<span class=\"_ _0\"></span>d within n<span class=\"_ _0\"></span>ote E3<span class=\"_ _0\"></span>.1<span class=\"_ _3bd\"> </span>3  O<span class=\"_ _0\"></span>ther movement repre<span class=\"_ _0\"></span>sents the non-c<span class=\"_ _0\"></span>ash movement in the interest liab<span class=\"_ _0\"></span>ility on borrowing<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-676": {
   "value": "The Gro<span class=\"_ _0\"></span>up class<span class=\"_ _0\"></span>ifies the ma<span class=\"_ _0\"></span>jorit<span class=\"_ _0\"></span>y of its interes<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>earing b<span class=\"_ _0\"></span>orrowings a<span class=\"_ _0\"></span>s financial lia<span class=\"_ _0\"></span>bilities ca<span class=\"_ _0\"></span>rried at amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d cost a<span class=\"_ _0\"></span>nd these a<span class=\"_ _0\"></span>re recog<span class=\"_ _0\"></span>nised initiall<span class=\"_ _0\"></span>y at fair value les<span class=\"_ _0\"></span>s any direct<span class=\"_ _0\"></span>ly attrib<span class=\"_ _0\"></span>utable tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion cost<span class=\"_ _0\"></span>s. Th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween initial c<span class=\"_ _0\"></span>ost an<span class=\"_ _0\"></span>d the redempt<span class=\"_ _0\"></span>ion value is amo<span class=\"_ _0\"></span>rtis<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh the cons<span class=\"_ _0\"></span>olidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement over th<span class=\"_ _0\"></span>e period of the b<span class=\"_ _0\"></span>orrowing usin<span class=\"_ _0\"></span>g the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Ce<span class=\"_ _0\"></span>rtain b<span class=\"_ _0\"></span>orrowings are d<span class=\"_ _0\"></span>esignate<span class=\"_ _0\"></span>d upon initial re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion at fair value th<span class=\"_ _0\"></span>rough profit or lo<span class=\"_ _0\"></span>ss and me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value where d<span class=\"_ _0\"></span>oing so provide<span class=\"_ _0\"></span>s more m<span class=\"_ _0\"></span>eaningf<span class=\"_ _0\"></span>ul in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation due to the re<span class=\"_ _0\"></span>asons s<span class=\"_ _0\"></span>tated in th<span class=\"_ _0\"></span>e financial li<span class=\"_ _0\"></span>abilities ac<span class=\"_ _0\"></span>counting po<span class=\"_ _0\"></span>licy (see n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>te E1<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s relating to borrow<span class=\"_ _0\"></span>ings desig<span class=\"_ _0\"></span>nated upo<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition at fa<span class=\"_ _0\"></span>ir value throug<span class=\"_ _0\"></span>h profit or loss a<span class=\"_ _0\"></span>re expens<span class=\"_ _0\"></span>ed as incur<span class=\"_ _0\"></span>red. Borrow<span class=\"_ _0\"></span>ings are cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s either po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er or shareh<span class=\"_ _0\"></span>older bo<span class=\"_ _0\"></span>rrowings<span class=\"_ _0\"></span>. P<span class=\"_ _2\"></span>oli<span class=\"_ _0\"></span>cyholde<span class=\"_ _0\"></span>r borrowing<span class=\"_ _0\"></span>s are those b<span class=\"_ _0\"></span>orrowings wh<span class=\"_ _0\"></span>ere there is ei<span class=\"_ _0\"></span>ther no or limite<span class=\"_ _0\"></span>d shareh<span class=\"_ _0\"></span>older exp<span class=\"_ _0\"></span>osure, for examp<span class=\"_ _0\"></span>le, borrowin<span class=\"_ _0\"></span>gs at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e Group\u2019s with-profits o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-632": {
   "value": "E6. Ris<span class=\"_ _0\"></span>k manage<span class=\"_ _0\"></span>ment \u2013 financia<span class=\"_ _0\"></span>l and other risks<span class=\"_ _3bd\"> </span>This note for<span class=\"_ _0\"></span>ms one par<span class=\"_ _0\"></span>t of the risk ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent disclo<span class=\"_ _0\"></span>sures in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. An over<span class=\"_ _0\"></span>view of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s app<span class=\"_ _0\"></span>roach to<span class=\"_ gs47\"> </span>risk man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt is outline<span class=\"_ _0\"></span>d in note I3 and the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent of insuranc<span class=\"_ _0\"></span>e risk is deta<span class=\"_ _0\"></span>iled in note F11<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>E6<span class=\"_ _0\"></span>.1 Finan<span class=\"_ _0\"></span>cial ris<span class=\"_ _0\"></span>k and th<span class=\"_ _0\"></span>e Asse<span class=\"_ _0\"></span>t Liabil<span class=\"_ _0\"></span>ity M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement (\u2018ALM\u2019<span class=\"_ _0\"></span>) fram<span class=\"_ _0\"></span>ework<span class=\"_ _3bd\"> </span>The us<span class=\"_ _0\"></span>e of financial in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts natur<span class=\"_ _0\"></span>ally expos<span class=\"_ _0\"></span>es the Group to th<span class=\"_ _0\"></span>e risks ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th them, c<span class=\"_ _0\"></span>hiefly market risk<span class=\"_ _0\"></span>, credit ris<span class=\"_ _0\"></span>k and financ<span class=\"_ _0\"></span>ial soun<span class=\"_ _0\"></span>dness ri<span class=\"_ _0\"></span>sk. Resp<span class=\"_ _0\"></span>onsibilit<span class=\"_ _0\"></span>y for agre<span class=\"_ _0\"></span>eing the finan<span class=\"_ _0\"></span>cial risk profil<span class=\"_ _0\"></span>e rests wi<span class=\"_ _0\"></span>th the Board of e<span class=\"_ _0\"></span>ach Life Comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>, as ad<span class=\"_ _0\"></span>vised by inves<span class=\"_ _0\"></span>tment man<span class=\"_ _0\"></span>agers<span class=\"_ _0\"></span>, internal comm<span class=\"_ _0\"></span>ittee<span class=\"_ _0\"></span>s and<span class=\"_ gs47\"> </span>the ac<span class=\"_ _0\"></span>tuarial f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>. In set<span class=\"_ _0\"></span>ting the ris<span class=\"_ _0\"></span>k profile, the Bo<span class=\"_ _0\"></span>ard of each Life Co<span class=\"_ _0\"></span>mpany will rece<span class=\"_ _0\"></span>ive advice from t<span class=\"_ _0\"></span>he Chief Investm<span class=\"_ _0\"></span>ent Of<span class=\"_ _0\"></span>ficer, the relevant W<span class=\"_ _0\"></span>ith-profits Ac<span class=\"_ _0\"></span>tuar<span class=\"_ _0\"></span>y and the re<span class=\"_ _0\"></span>levant act<span class=\"_ _0\"></span>uarial func<span class=\"_ _0\"></span>tion hold<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>Chi<span class=\"_ _0\"></span>ef Actuar<span class=\"_ _0\"></span>y as to the p<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntial implic<span class=\"_ _0\"></span>ations of that risk p<span class=\"_ _0\"></span>rofile with re<span class=\"_ _0\"></span>gard to the prob<span class=\"_ _0\"></span>ability of b<span class=\"_ _0\"></span>oth realisti<span class=\"_ _0\"></span>c insolvenc<span class=\"_ _0\"></span>y and of failing to me<span class=\"_ _0\"></span>et the reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y Minimum Capi<span class=\"_ _0\"></span>tal Require<span class=\"_ _0\"></span>ment. Th<span class=\"_ _0\"></span>e Chief Actua<span class=\"_ _0\"></span>ry will also a<span class=\"_ _0\"></span>dvise the ex<span class=\"_ _0\"></span>tent to<span class=\"_ gs47\"> </span>which th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment r<span class=\"_ _0\"></span>isk taken is cons<span class=\"_ _0\"></span>istent with th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ommitment to h<span class=\"_ _0\"></span>elp custom<span class=\"_ _0\"></span>ers se<span class=\"_ _0\"></span>cure a life of<span class=\"_ gs47\"> </span>poss<span class=\"_ _0\"></span>ibilities<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding meet<span class=\"_ _0\"></span>ing the FCA<span class=\"_ _2\"></span>\u2019s expec<span class=\"_ _0\"></span>tations un<span class=\"_ _0\"></span>der Con<span class=\"_ _0\"></span>sumer Du<span class=\"_ _0\"></span>ty.<span class=\"_ _3bd\"> </span>Der<span class=\"_ _0\"></span>ivatives are use<span class=\"_ _0\"></span>d in many of the Group\u2019s funds<span class=\"_ _0\"></span>, within po<span class=\"_ _0\"></span>licy guide<span class=\"_ _0\"></span>lines agre<span class=\"_ _0\"></span>ed by the Bo<span class=\"_ _0\"></span>ard of each Life Co<span class=\"_ _0\"></span>mpany and over<span class=\"_ _0\"></span>seen by inves<span class=\"_ _0\"></span>tment comm<span class=\"_ _0\"></span>ittee<span class=\"_ _0\"></span>s of the Boards of e<span class=\"_ _0\"></span>ach Life Comp<span class=\"_ _0\"></span>any suppor<span class=\"_ _0\"></span>ted by man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsight com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>es. De<span class=\"_ _0\"></span>rivatives are prim<span class=\"_ _0\"></span>arily use<span class=\"_ _0\"></span>d for<span class=\"_ gs47\"> </span>risk he<span class=\"_ _0\"></span>dging purp<span class=\"_ _0\"></span>oses or for ef<span class=\"_ _0\"></span>ficient po<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>folio manag<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, including th<span class=\"_ _0\"></span>e activit<span class=\"_ _0\"></span>ies of the Group\u2019s T<span class=\"_ _4\"></span>rea<span class=\"_ _0\"></span>sury f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>More de<span class=\"_ _0\"></span>tail on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s expo<span class=\"_ _0\"></span>sure to financi<span class=\"_ _0\"></span>al risk is provide<span class=\"_ _0\"></span>d in note E6.<span class=\"_ _0\"></span>2 below.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is also exp<span class=\"_ _0\"></span>osed to ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k arising from it<span class=\"_ _0\"></span>s Life, Pensions a<span class=\"_ _0\"></span>nd Saving<span class=\"_ _0\"></span>s busines<span class=\"_ _0\"></span>s. Life insur<span class=\"_ _0\"></span>ance risk in t<span class=\"_ _0\"></span>he Group aris<span class=\"_ _0\"></span>es throug<span class=\"_ _0\"></span>h its expo<span class=\"_ _0\"></span>sure to longevi<span class=\"_ _0\"></span>ty, persi<span class=\"_ _0\"></span>stency, mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y and to othe<span class=\"_ _0\"></span>r variance<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d actua<span class=\"_ _0\"></span>l experien<span class=\"_ _0\"></span>ce. The<span class=\"_ _0\"></span>se varianc<span class=\"_ _0\"></span>es can b<span class=\"_ _0\"></span>e in factors such a<span class=\"_ _0\"></span>s administr<span class=\"_ _0\"></span>ative expen<span class=\"_ _0\"></span>ses and n<span class=\"_ _0\"></span>ew busines<span class=\"_ _0\"></span>s pricing<span class=\"_ _0\"></span>. More det<span class=\"_ _0\"></span>ail on the Group\u2019s expos<span class=\"_ _0\"></span>ure to insuranc<span class=\"_ _0\"></span>e risk is provide<span class=\"_ _0\"></span>d in note F11.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s overall ex<span class=\"_ _0\"></span>posure to mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et an<span class=\"_ _0\"></span>d credit risk is m<span class=\"_ _0\"></span>onitored by app<span class=\"_ _0\"></span>ropriate comm<span class=\"_ _0\"></span>ittee<span class=\"_ _0\"></span>s, whic<span class=\"_ _0\"></span>h agree po<span class=\"_ _0\"></span>licies for man<span class=\"_ _0\"></span>aging ea<span class=\"_ _0\"></span>ch ty<span class=\"_ _0\"></span>pe of<span class=\"_ gs47\"> </span>risk on an<span class=\"_ gs47\"> </span>on<span class=\"_ _0\"></span>going bas<span class=\"_ _0\"></span>is, in line wit<span class=\"_ _0\"></span>h the investme<span class=\"_ _0\"></span>nt strate<span class=\"_ _0\"></span>gy develop<span class=\"_ _0\"></span>ed to achieve inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s in excess of am<span class=\"_ _0\"></span>ounts due in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. The ef<span class=\"_ _0\"></span>fectiven<span class=\"_ _0\"></span>ess of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ALM fram<span class=\"_ _0\"></span>ework relies o<span class=\"_ _0\"></span>n the matching of a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and liabilitie<span class=\"_ _0\"></span>s arising from ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nt contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, takin<span class=\"_ _0\"></span>g in<span class=\"_ _2\"></span>to a<span class=\"_ _0\"></span>ccount th<span class=\"_ _0\"></span>e type<span class=\"_ _0\"></span>s of benefit<span class=\"_ _0\"></span>s payable to polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs under e<span class=\"_ _0\"></span>ach t<span class=\"_ _0\"></span>ype of contrac<span class=\"_ _0\"></span>t. Se<span class=\"_ _0\"></span>parate por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lios of asset<span class=\"_ _0\"></span>s are maint<span class=\"_ _0\"></span>ained for with-<span class=\"_ _0\"></span>profits busin<span class=\"_ _0\"></span>ess fun<span class=\"_ _0\"></span>ds (which includ<span class=\"_ _0\"></span>e all of the Group\u2019s par<span class=\"_ _0\"></span>ticipating bu<span class=\"_ _0\"></span>siness), no<span class=\"_ _0\"></span>n-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d non-profit<span class=\"_ _0\"></span>s funds an<span class=\"_ _0\"></span>d unit-linked fund<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>E6<span class=\"_ _0\"></span>.2 Financial risk anal<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>is<span class=\"_ _3bd\"> </span>T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions in finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>truments re<span class=\"_ _0\"></span>sult in the Gro<span class=\"_ _0\"></span>up assumin<span class=\"_ _0\"></span>g financial r<span class=\"_ _0\"></span>isks. The<span class=\"_ _0\"></span>se inclu<span class=\"_ _0\"></span>de credit risk<span class=\"_ _0\"></span>, market risk an<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>oundne<span class=\"_ _0\"></span>ss risk. Eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese are de<span class=\"_ _0\"></span>scribe<span class=\"_ _0\"></span>d below, togeth<span class=\"_ _0\"></span>er with a summ<span class=\"_ _0\"></span>ary of how th<span class=\"_ _0\"></span>e Group man<span class=\"_ _0\"></span>ages the r<span class=\"_ _0\"></span>isk, alon<span class=\"_ _0\"></span>g with sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y analysis wh<span class=\"_ _0\"></span>ere appropr<span class=\"_ _0\"></span>iate. The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis does n<span class=\"_ _0\"></span>ot include se<span class=\"_ _0\"></span>cond ord<span class=\"_ _0\"></span>er impac<span class=\"_ _0\"></span>ts of market moveme<span class=\"_ _0\"></span>nts, for<span class=\"_ gs47\"> </span>exa<span class=\"_ _0\"></span>mple, whe<span class=\"_ _0\"></span>re a market movement m<span class=\"_ _0\"></span>ay give rise to potentia<span class=\"_ _0\"></span>l indicator<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f im<span class=\"_ _0\"></span>pairment for th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s int<span class=\"_ _0\"></span>angible b<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Climate risk<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to financ<span class=\"_ _0\"></span>ial risks (in par<span class=\"_ _0\"></span>ticular m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et a<span class=\"_ _0\"></span>nd credit ris<span class=\"_ _0\"></span>k) related to th<span class=\"_ _0\"></span>e transitio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o a l<span class=\"_ _0\"></span>ow carbon e<span class=\"_ _0\"></span>conomy, and the p<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>ys<span class=\"_ _0\"></span>ical impac<span class=\"_ _0\"></span>ts res<span class=\"_ _0\"></span>ulting from climate c<span class=\"_ _0\"></span>hange wh<span class=\"_ _0\"></span>ich could re<span class=\"_ _0\"></span>sult in long-ter<span class=\"_ _0\"></span>m market, credi<span class=\"_ _0\"></span>t, insura<span class=\"_ _0\"></span>nce, rep<span class=\"_ _0\"></span>utation<span class=\"_ _0\"></span>, propositio<span class=\"_ _0\"></span>n and oper<span class=\"_ _0\"></span>ational implic<span class=\"_ _0\"></span>ations<span class=\"_ _0\"></span>. As such<span class=\"_ _0\"></span>, this<span class=\"_ gs47\"> </span>risk is treate<span class=\"_ _0\"></span>d as a comp<span class=\"_ _0\"></span>onent of the cros<span class=\"_ _0\"></span>s-c<span class=\"_ _0\"></span>utting S<span class=\"_ _0\"></span>usta<span class=\"_ _0\"></span>inabilit<span class=\"_ _0\"></span>y risk in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Risk Un<span class=\"_ _0\"></span>iverse. Ide<span class=\"_ _0\"></span>ntification of clim<span class=\"_ _0\"></span>ate related ris<span class=\"_ _0\"></span>ks has bee<span class=\"_ _0\"></span>n embed<span class=\"_ _0\"></span>ded into the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Risk M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Framewor<span class=\"_ _0\"></span>k. Signific<span class=\"_ _0\"></span>ant progre<span class=\"_ _0\"></span>ss has b<span class=\"_ _0\"></span>een ma<span class=\"_ _0\"></span>de in<span class=\"_ gs47\"> </span>rec<span class=\"_ _0\"></span>ent years in devel<span class=\"_ _0\"></span>oping risk me<span class=\"_ _0\"></span>trics and e<span class=\"_ _0\"></span>stabli<span class=\"_ _0\"></span>shing approp<span class=\"_ _0\"></span>riate governan<span class=\"_ _0\"></span>ce and ris<span class=\"_ _0\"></span>k manag<span class=\"_ _0\"></span>ement proc<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s. The G<span class=\"_ _0\"></span>roup has ad<span class=\"_ _0\"></span>opted a proa<span class=\"_ _0\"></span>ctive approa<span class=\"_ _0\"></span>ch towards com<span class=\"_ _0\"></span>battin<span class=\"_ _0\"></span>g climate chan<span class=\"_ _0\"></span>ge, with key net zero t<span class=\"_ _0\"></span>argets<span class=\"_ _0\"></span>. Furthe<span class=\"_ _0\"></span>r details on the<span class=\"_ _0\"></span>se targ<span class=\"_ _0\"></span>ets and on m<span class=\"_ _0\"></span>anaging t<span class=\"_ _0\"></span>he related climate c<span class=\"_ _0\"></span>hange ris<span class=\"_ _0\"></span>ks are provided in th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>ask Forc<span class=\"_ _0\"></span>e for Climate-re<span class=\"_ _0\"></span>lated Fina<span class=\"_ _0\"></span>ncial Dis<span class=\"_ _0\"></span>closures (<span class=\"_ _0\"></span>\u2018TCFD\u2019<span class=\"_ _0\"></span>) within the Str<span class=\"_ _0\"></span>ategic Rep<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Restatement o<span class=\"_ _2\"></span>f prior y<span class=\"_ _2\"></span>ear comparatives<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>ior year comp<span class=\"_ _0\"></span>aratives for the m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>t and credit ri<span class=\"_ _0\"></span>sk sensiti<span class=\"_ _0\"></span>vities have be<span class=\"_ _0\"></span>en rest<span class=\"_ _0\"></span>ated. The<span class=\"_ _0\"></span>se sens<span class=\"_ _0\"></span>itivities were m<span class=\"_ _0\"></span>aterially impa<span class=\"_ _0\"></span>cted by inc<span class=\"_ _0\"></span>luding the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes within th<span class=\"_ _0\"></span>e scope of th<span class=\"_ _0\"></span>e sensitiv<span class=\"_ _0\"></span>ity, providing a mo<span class=\"_ _0\"></span>re holistic vi<span class=\"_ _0\"></span>ew of the impac<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ese stre<span class=\"_ _0\"></span>sses o<span class=\"_ _0\"></span>n the Group, an<span class=\"_ _0\"></span>d improvem<span class=\"_ _0\"></span>ents mad<span class=\"_ _0\"></span>e to the mode<span class=\"_ _0\"></span>lling of sensitiv<span class=\"_ _0\"></span>ities following th<span class=\"_ _0\"></span>e introduct<span class=\"_ _0\"></span>ion of IFRS 17<span class=\"_ _2\"></span>.<span class=\"_ gs47\"> </span>E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.1 Cred<span class=\"_ _0\"></span>it risk<span class=\"_ _3bd\"> </span>Credit r<span class=\"_ _0\"></span>isk is define<span class=\"_ _0\"></span>d as the risk of red<span class=\"_ _0\"></span>uctions in e<span class=\"_ _0\"></span>arnings an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or val<span class=\"_ _0\"></span>ue, throug<span class=\"_ _0\"></span>h financial o<span class=\"_ _0\"></span>r reputatio<span class=\"_ _0\"></span>nal loss<span class=\"_ _0\"></span>, as a res<span class=\"_ _0\"></span>ult of the default of a counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y or an as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>te o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>uch a counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y to a financi<span class=\"_ _0\"></span>al transa<span class=\"_ _0\"></span>ction (i.e<span class=\"_ _0\"></span>. failure to hono<span class=\"_ _0\"></span>ur their finan<span class=\"_ _0\"></span>cial obliga<span class=\"_ _0\"></span>tions, o<span class=\"_ _0\"></span>r failing to per<span class=\"_ _0\"></span>form them in a tim<span class=\"_ _0\"></span>ely mann<span class=\"_ _0\"></span>er), whether on o<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f balan<span class=\"_ _0\"></span>ce shee<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>There a<span class=\"_ _0\"></span>re two prin<span class=\"_ _0\"></span>cipal sourc<span class=\"_ _0\"></span>es of credit ris<span class=\"_ _0\"></span>k for the Group:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>cre<span class=\"_ _0\"></span>dit risk which re<span class=\"_ _0\"></span>sults from dire<span class=\"_ _0\"></span>ct investm<span class=\"_ _0\"></span>ent activ<span class=\"_ _0\"></span>ities, in<span class=\"_ _0\"></span>cluding inves<span class=\"_ _0\"></span>tments in d<span class=\"_ _0\"></span>ebt secur<span class=\"_ _0\"></span>ities, d<span class=\"_ _0\"></span>erivatives co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>, collec<span class=\"_ _0\"></span>tive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes<span class=\"_ _0\"></span>, hedge f<span class=\"_ _0\"></span>unds and th<span class=\"_ _0\"></span>e placing of c<span class=\"_ _0\"></span>ash depo<span class=\"_ _0\"></span>sits; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>cre<span class=\"_ _0\"></span>dit risk which re<span class=\"_ _0\"></span>sults indire<span class=\"_ _0\"></span>ctly from a<span class=\"_ _0\"></span>ctivitie<span class=\"_ _0\"></span>s under<span class=\"_ _0\"></span>taken in the norm<span class=\"_ _0\"></span>al cours<span class=\"_ _0\"></span>e of busines<span class=\"_ _0\"></span>s. Su<span class=\"_ _0\"></span>ch activit<span class=\"_ _0\"></span>ies includ<span class=\"_ _0\"></span>e premium payme<span class=\"_ _0\"></span>nts, out<span class=\"_ _0\"></span>sourcing c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e agreem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, exposure fro<span class=\"_ _0\"></span>m material sup<span class=\"_ _0\"></span>pliers and t<span class=\"_ _0\"></span>he lending of s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ount disclo<span class=\"_ _0\"></span>sed in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>ll financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, tog<span class=\"_ _0\"></span>ether with rig<span class=\"_ _0\"></span>hts sec<span class=\"_ _0\"></span>ured under of<span class=\"_ _0\"></span>f bala<span class=\"_ _0\"></span>nce she<span class=\"_ _0\"></span>et collatera<span class=\"_ _0\"></span>l arrang<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>, but exclu<span class=\"_ _0\"></span>ding the mino<span class=\"_ _0\"></span>rity intere<span class=\"_ _0\"></span>st in cons<span class=\"_ _0\"></span>olidated c<span class=\"_ _0\"></span>ollective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes a<span class=\"_ _0\"></span>nd those a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s that back polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, represe<span class=\"_ _0\"></span>nts the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s max<span class=\"_ _0\"></span>imum expos<span class=\"_ _0\"></span>ure t<span class=\"_ _2\"></span>o c<span class=\"_ _0\"></span>redit risk<span class=\"_ _0\"></span>. The credit r<span class=\"_ _0\"></span>isk borne by th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder on with-p<span class=\"_ _0\"></span>rofits polici<span class=\"_ _0\"></span>es is dep<span class=\"_ _0\"></span>endent on th<span class=\"_ _0\"></span>e extent to whic<span class=\"_ _0\"></span>h the underl<span class=\"_ _0\"></span>ying insuran<span class=\"_ _0\"></span>ce fund is re<span class=\"_ _0\"></span>lying on sha<span class=\"_ _0\"></span>reholde<span class=\"_ _0\"></span>r suppor<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>The imp<span class=\"_ _0\"></span>act of non-<span class=\"_ _0\"></span>governme<span class=\"_ _0\"></span>nt debt sec<span class=\"_ _0\"></span>urities and<span class=\"_ _0\"></span>, inter alia, th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in market credit spre<span class=\"_ _0\"></span>ads during th<span class=\"_ _0\"></span>e year is fully refl<span class=\"_ _0\"></span>ected in th<span class=\"_ _0\"></span>e values shown in t<span class=\"_ _0\"></span>hese con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _0\"></span>s are the exces<span class=\"_ _0\"></span>s of corpor<span class=\"_ _0\"></span>ate bond yiel<span class=\"_ _0\"></span>ds over gilt yield<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o refl<span class=\"_ _0\"></span>ect th<span class=\"_ _0\"></span>e higher level of risk. S<span class=\"_ _0\"></span>imilarly, the value of de<span class=\"_ _0\"></span>rivatives that th<span class=\"_ _0\"></span>e Group hold<span class=\"_ _0\"></span>s takes into acco<span class=\"_ _0\"></span>unt fully the cha<span class=\"_ _0\"></span>nges in s<span class=\"_ _0\"></span>wap rates<span class=\"_ _0\"></span>. There i<span class=\"_ _0\"></span>s an exposure to s<span class=\"_ _0\"></span>pread cha<span class=\"_ _0\"></span>nges af<span class=\"_ _0\"></span>fectin<span class=\"_ _0\"></span>g the price<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>orporate b<span class=\"_ _0\"></span>onds and de<span class=\"_ _0\"></span>rivatives. T<span class=\"_ _0\"></span>his expos<span class=\"_ _0\"></span>ure applies to supp<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d with-profit<span class=\"_ _0\"></span>s fund<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>whe<span class=\"_ _0\"></span>re risks and rewa<span class=\"_ _0\"></span>rds fall wholly to s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>ers), non-profi<span class=\"_ _0\"></span>t funds and s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>ers\u2019 funds<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up holds \u00a3<span class=\"_ _0\"></span>17<span class=\"_ _4\"></span>,<span class=\"_ _0\"></span>554 millio<span class=\"_ _0\"></span>n (2023: \u00a31<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>79 milli<span class=\"_ _0\"></span>on) o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>orporate bo<span class=\"_ _0\"></span>nds which are u<span class=\"_ _0\"></span>sed to bac<span class=\"_ _0\"></span>k annuit<span class=\"_ _0\"></span>y liabilities in n<span class=\"_ _0\"></span>on-profit fund<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se<span class=\"_ gs47\"> </span>annuit<span class=\"_ _0\"></span>y liabilitie<span class=\"_ _0\"></span>s include an a<span class=\"_ _0\"></span>ggreg<span class=\"_ _0\"></span>ate credit defa<span class=\"_ _0\"></span>ult provision of \u00a33<span class=\"_ _0\"></span>30 million (2023<span class=\"_ _0\"></span>: \u00a338<span class=\"_ _0\"></span>8 million) to fund a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he risk of default<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The cre<span class=\"_ _0\"></span>dit sprea<span class=\"_ _0\"></span>d sensiti<span class=\"_ _0\"></span>vity rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s a 100<span class=\"_ _0\"></span>bps widenin<span class=\"_ _0\"></span>g of credit spre<span class=\"_ _0\"></span>ads, w<span class=\"_ _0\"></span>ith no chan<span class=\"_ _0\"></span>ge in the risk-free interes<span class=\"_ _0\"></span>t rate cur<span class=\"_ _0\"></span>ve. Under t<span class=\"_ _0\"></span>his sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y it is also as<span class=\"_ _0\"></span>sumed t<span class=\"_ _0\"></span>hat both expe<span class=\"_ _0\"></span>cted an<span class=\"_ _0\"></span>d unexpe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults remain un<span class=\"_ _0\"></span>chang<span class=\"_ _0\"></span>ed. The illi<span class=\"_ _0\"></span>quidity p<span class=\"_ _0\"></span>remium use<span class=\"_ _0\"></span>d in the valuation of prima<span class=\"_ _0\"></span>rily annuit<span class=\"_ _0\"></span>y liabilitie<span class=\"_ _0\"></span>s, and as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, is adj<span class=\"_ _0\"></span>usted to refl<span class=\"_ _0\"></span>ect the im<span class=\"_ _0\"></span>pact of the c<span class=\"_ _0\"></span>hange in cre<span class=\"_ _0\"></span>dit sprea<span class=\"_ _0\"></span>ds arising on a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s cont<span class=\"_ _0\"></span>aining credit r<span class=\"_ _0\"></span>isk held with<span class=\"_ _0\"></span>in the referenc<span class=\"_ _0\"></span>e port<span class=\"_ _0\"></span>folio.<span class=\"_ _3bd\"> </span>A 10<span class=\"_ _0\"></span>0bps wi<span class=\"_ _0\"></span>dening of credi<span class=\"_ _0\"></span>t spreads<span class=\"_ _0\"></span>, with all othe<span class=\"_ _0\"></span>r variables h<span class=\"_ _0\"></span>eld cons<span class=\"_ _0\"></span>tant and n<span class=\"_ _0\"></span>o chang<span class=\"_ _0\"></span>e in assum<span class=\"_ _0\"></span>ed expe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults, wo<span class=\"_ _0\"></span>uld result in an incre<span class=\"_ _0\"></span>ase in the profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x in respe<span class=\"_ _0\"></span>ct of a full financ<span class=\"_ _0\"></span>ial year of \u00a314 millio<span class=\"_ _0\"></span>n (2023: dec<span class=\"_ _0\"></span>rease \u00a3<span class=\"_ _0\"></span>108 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>res<span class=\"_ _0\"></span>tated)), an in<span class=\"_ _0\"></span>crease in e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f \u00a3141 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>66 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>res<span class=\"_ _0\"></span>tated)), an<span class=\"_ _0\"></span>d a decrea<span class=\"_ _0\"></span>se in CSM of \u00a3<span class=\"_ _0\"></span>3 million (2023: \u00a3<span class=\"_ _0\"></span>14 million (resta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d)).<span class=\"_ _3bd\"> </span>A 10<span class=\"_ _0\"></span>0bps n<span class=\"_ _0\"></span>arrowing of credit s<span class=\"_ _0\"></span>preads<span class=\"_ _0\"></span>, with all othe<span class=\"_ _0\"></span>r variables h<span class=\"_ _0\"></span>eld cons<span class=\"_ _0\"></span>tant and n<span class=\"_ _0\"></span>o chang<span class=\"_ _0\"></span>e in assume<span class=\"_ _0\"></span>d expe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults, wo<span class=\"_ _0\"></span>uld result in an incre<span class=\"_ _0\"></span>ase in the profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x in respe<span class=\"_ _0\"></span>ct of a full financ<span class=\"_ _0\"></span>ial year of \u00a3<span class=\"_ _2\"></span>42 milli<span class=\"_ _0\"></span>on (2023: \u00a32<span class=\"_ _0\"></span>02 million (restate<span class=\"_ _0\"></span>d)), a decrea<span class=\"_ _0\"></span>se in equit<span class=\"_ _0\"></span>y of \u00a3113 milli<span class=\"_ _0\"></span>on (2023<span class=\"_ _0\"></span>: \u00a3136 m<span class=\"_ _0\"></span>illion (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d)<span class=\"_ _2\"></span>), an<span class=\"_ _0\"></span>d an increa<span class=\"_ _0\"></span>se in CSM of \u00a3<span class=\"_ _0\"></span>3 million (2023: \u00a3<span class=\"_ _0\"></span>9 million (restate<span class=\"_ _0\"></span>d)).<span class=\"_ _3bd\"> </span>Det<span class=\"_ _0\"></span>ails of the rest<span class=\"_ _0\"></span>atement of the p<span class=\"_ _0\"></span>rior year comp<span class=\"_ _0\"></span>aratives is dis<span class=\"_ _0\"></span>close<span class=\"_ _0\"></span>d in note E6.<span class=\"_ _0\"></span>2.<span class=\"_ _3bd\"> </span>Credit r<span class=\"_ _0\"></span>isk is mana<span class=\"_ _0\"></span>ged by the m<span class=\"_ _0\"></span>onitoring of ag<span class=\"_ _0\"></span>gregate G<span class=\"_ _0\"></span>roup exposure<span class=\"_ _0\"></span>s to individual c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ties an<span class=\"_ _0\"></span>d by appropriate cre<span class=\"_ _0\"></span>dit risk diver<span class=\"_ _0\"></span>sification (inclu<span class=\"_ _0\"></span>ding by indus<span class=\"_ _0\"></span>try, credit ra<span class=\"_ _0\"></span>ting, as<span class=\"_ _0\"></span>set cla<span class=\"_ _0\"></span>ss and co<span class=\"_ _0\"></span>untry). The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up manag<span class=\"_ _0\"></span>es the level of cre<span class=\"_ _0\"></span>dit risk it ac<span class=\"_ _0\"></span>cepts thro<span class=\"_ _0\"></span>ugh an es<span class=\"_ _0\"></span>tablishe<span class=\"_ _0\"></span>d Group Credit R<span class=\"_ _0\"></span>isk Policy and G<span class=\"_ _0\"></span>roup Credit Limit an<span class=\"_ _0\"></span>d Counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y Framework th<span class=\"_ _0\"></span>at include<span class=\"_ _0\"></span>s the use of cre<span class=\"_ _0\"></span>dit risk tolera<span class=\"_ _0\"></span>nces an<span class=\"_ _0\"></span>d limits. Ad<span class=\"_ _0\"></span>ditional co<span class=\"_ _0\"></span>ntrols for illiquid a<span class=\"_ _0\"></span>sset co<span class=\"_ _0\"></span>ncentrati<span class=\"_ _0\"></span>on risk are set o<span class=\"_ _0\"></span>ut via spec<span class=\"_ _0\"></span>ific risk limit<span class=\"_ _0\"></span>s within the fram<span class=\"_ _0\"></span>ework. Cre<span class=\"_ _0\"></span>dit risk on der<span class=\"_ _0\"></span>ivatives and<span class=\"_ gs47\"> </span>se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s lending is mitig<span class=\"_ _0\"></span>ated throug<span class=\"_ _0\"></span>h the use of colla<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ral with app<span class=\"_ _0\"></span>ropriate haircu<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>Cre<span class=\"_ _0\"></span>dit qua<span class=\"_ _0\"></span>lity of a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>An indic<span class=\"_ _0\"></span>ation of the Group\u2019s expo<span class=\"_ _0\"></span>sure to credit ris<span class=\"_ _0\"></span>k is the qualit<span class=\"_ _0\"></span>y of the investm<span class=\"_ _0\"></span>ents and c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ties with w<span class=\"_ _0\"></span>hich it trans<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s. The follow<span class=\"_ _0\"></span>ing table provide<span class=\"_ _0\"></span>s in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation reg<span class=\"_ _0\"></span>arding the ag<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ate credit exp<span class=\"_ _0\"></span>osure split by cre<span class=\"_ _0\"></span>dit rating<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5b7 h24d\" id=\"_0b1706c7-d1ca-47c2-b60c-88fe4734fee7\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x287 h29 y5dbe ff3 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x3b1 h29 y5dbf ff3 fs5 fc3 sc0 ls1 ws1\">am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x2ee h29 y5dc0 ff3 fs5 fc3 sc0 ls8d ws86\">classified </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xc6b h29 y5dc1 ff3 fs5 fc3 sc0 ls1 ws1\">BB a<span class=\"_ _0\"></span>nd </td><td></td><td></td><td></td><td class=\"t m0 x3aa h29 y5dc1 ff3 fs5 fc3 sc0 ls1 ws1\">as h<span class=\"_ _0\"></span>eld for </td><td></td></tr><tr><td></td><td class=\"t m0 xc6c h29 y5dc2 ff3 fs5 fc3 sc0 ls1ef ws20e\">AAA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d h29 y5dc2 ff3 fs5 fc3 sc0 ls1ef ws20e\">AA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6e h29 y5dc2 ff3 fs5 fc3 sc0 ls1 ws1\">A<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6f h29 y5dc2 ff3 fs5 fc3 sc0 lsca wsca\">BBB<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e5 h29 y5dc2 ff3 fs5 fc3 sc0 ls105 ws107\">below<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc70 h29 y5dc2 ff3 fs5 fc3 sc0 ls11a ws11c\">Non-rated<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f h29 y5dc2 ff3 fs5 fc3 sc0 ls65 wsc0\">Unit-linked<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc71 h29 y5dc2 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x302 h29 y5dc2 ff3 fs5 fc3 sc0 ls8d ws86\">sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 h29 y5dc2 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5dc3 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 h29 y5dc3 ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 xc6d h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x920 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc73 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dc4 wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc74 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc75 y5dc4 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc76 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc77 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc78 y5dc4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc79 y5dc4 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7a y5dc4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7b y5dc4 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">261<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7c y5dc4 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7d y5dc4 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">261<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dc5 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7e y5dc5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7f y5dc5 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc80 y5dc5 w5b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17b ws18b\">662<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc81 y5dc5 w19e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc82 y5dc5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc83 y5dc5 w5b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">3<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc84 y5dc5 wac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc85 y5dc5 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc86 y5dc5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc87 y5dc5 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5dc6 w5ba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 xc88 h11 y5a78 ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc89 y5dc7 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8a y5dc7 w5bb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">32,<span class=\"_ _0\"></span>89<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8b y5dc7 w5bc h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">17,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8c y5dc7 w5bd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls81 ws14c\">14<span class=\"_ _2\"></span>,967<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8d y5dc7 w34c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">2,5<span class=\"_ _2\"></span>18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8e y5dc7 w5be h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>07<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8f y5dc7 w5bf h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">6<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc90 y5dc7 w3d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>9,301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc91 y5dc7 w5c0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(979)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc92 y5dc7 w5bb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">8<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>322<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d13 wf7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc93 y5d13 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc94 y5d13 w5c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">3,<span class=\"_ _0\"></span>131<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc95 y5d13 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,056<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc96 y5d13 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc97 y5d13 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc98 y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc99 y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9a y5d13 w5c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5,<span class=\"_ _0\"></span>187<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9b y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2a5 y5d13 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dc8 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c06 w5c3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9c y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9d y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9e y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9f y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca0 y5c06 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca1 y5c06 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca2 y5c06 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca3 y5c06 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca4 y5c06 w1d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3c9 y5c06 w5c4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">9<span class=\"_ _0\"></span>,265<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w108 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca5 y5c07 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca6 y5c07 w5c5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">1,<span class=\"_ _0\"></span>453<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca7 y5c07 w16b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">5,820<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca8 y5c07 w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca9 y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcaa y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcab y5c07 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,1<span class=\"_ _0\"></span>30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcac y5c07 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">9,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcad y5c07 w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcae y5c07 w10a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">9,<span class=\"_ _0\"></span>453<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xc89 y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcaf y5a16 w3d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">3<span class=\"_ _0\"></span>9,014<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb0 y5a16 w5c6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>,29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb1 y5a16 w5c7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">15,0<span class=\"_ _0\"></span>92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb2 y5a16 w4f4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">2,518<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb3 y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb4 y5a16 w54 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>223<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb5 y5a16 w5c8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">11<span class=\"_ _0\"></span>6,1<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb6 y5a16 wec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">(<span class=\"_ _2\"></span>1,04<span class=\"_ _2\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb7 y5a16 w13d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">115,088<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>For fin<span class=\"_ _0\"></span>ancia<span class=\"_ _0\"></span>l ass<span class=\"_ _0\"></span>ets th<span class=\"_ _0\"></span>at do not h<span class=\"_ _0\"></span>ave cre<span class=\"_ _0\"></span>dit rat<span class=\"_ _0\"></span>ings as<span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ed by ex<span class=\"_ _0\"></span>tern<span class=\"_ _0\"></span>al rat<span class=\"_ _0\"></span>ings a<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>ies<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up ass<span class=\"_ _0\"></span>igns in<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l ratin<span class=\"_ _0\"></span>gs for u<span class=\"_ _0\"></span>se in man<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>ment an<span class=\"_ _0\"></span>d moni<span class=\"_ _0\"></span>torin<span class=\"_ _0\"></span>g of credi<span class=\"_ _0\"></span>t risk<span class=\"_ _0\"></span>. \u00a355 mil<span class=\"_ _0\"></span>lion of A<span class=\"_ _0\"></span>AA<span class=\"_ _0\"></span>, \u00a38<span class=\"_ _0\"></span>65 mi<span class=\"_ _0\"></span>llion of A<span class=\"_ _0\"></span>A, \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>837 mi<span class=\"_ _0\"></span>llion of A<span class=\"_ _0\"></span>, \u00a32<span class=\"_ _0\"></span>,26<span class=\"_ _0\"></span>6 milli<span class=\"_ _0\"></span>on of BB<span class=\"_ _0\"></span>B and \u00a324<span class=\"_ _0\"></span>0 millio<span class=\"_ _0\"></span>n of BB and b<span class=\"_ _0\"></span>elow d<span class=\"_ _0\"></span>ebt se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>ies are i<span class=\"_ _0\"></span>ntern<span class=\"_ _0\"></span>ally ra<span class=\"_ _0\"></span>ted. If a fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set is n<span class=\"_ _0\"></span>eithe<span class=\"_ _0\"></span>r rate<span class=\"_ _0\"></span>d by an ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l agen<span class=\"_ _0\"></span>cy no<span class=\"_ _0\"></span>r intern<span class=\"_ _0\"></span>ally rat<span class=\"_ _0\"></span>ed, it i<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as \u2018non-<span class=\"_ _0\"></span>rated<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>N<span class=\"_ _0\"></span>on-ra<span class=\"_ _0\"></span>ted de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>udes e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y rele<span class=\"_ _0\"></span>ase mo<span class=\"_ _0\"></span>rtg<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>s with a val<span class=\"_ _0\"></span>ue of \u00a34,7<span class=\"_ _0\"></span>95 mil<span class=\"_ _0\"></span>lion (fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r deta<span class=\"_ _0\"></span>ils are s<span class=\"_ _0\"></span>et out in n<span class=\"_ _0\"></span>ote E2.<span class=\"_ _0\"></span>3) an<span class=\"_ _0\"></span>d non-r<span class=\"_ _0\"></span>ated b<span class=\"_ _0\"></span>onds<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5c9 h24e\" id=\"_19376815-9c95-4114-b258-9ff389127759\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xcb8 ha y5dc9 ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xcb9 ha y5dca ff2 fs5 fc3 sc0 ls21 ws23\">amount<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xc6b ha y5dcb ff2 fs5 fc3 sc0 ls1 ws1\">BB a<span class=\"_ _0\"></span>nd </td><td></td><td></td><td></td><td class=\"t m0 xcba ha y5dcb ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 xcbb ha y5dcc ff2 fs5 fc3 sc0 ls163 ws171\">AAA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d ha y5dcc ff2 fs5 fc3 sc0 ls163 ws171\">AA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbc ha y5dcc ff2 fs5 fc3 sc0 ls1 ws1\">A<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6f ha y5dcc ff2 fs5 fc3 sc0 lsaa wsa5\">BBB<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbd ha y5dcc ff2 fs5 fc3 sc0 ls26 wsc6\">below<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbe ha y5dcc ff2 fs5 fc3 sc0 ls11 ws11\">Non-rated<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 ha y5dcc ff2 fs5 fc3 sc0 ls21 ws23\">Unit-linked<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x917 ha y5dcc ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5dcc ff2 fs5 fc3 sc0 ls11 ws11\">held for sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5dcc ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5dcd ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcc0 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dce wdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc74 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc1 y5dce w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc2 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc3 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc4 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc5 y5dce w5ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc6 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc7 y5dce w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc8 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc9 y5dce w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dcf we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcca y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccb y5dcf w5cb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccc y5dcf w14f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">736<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9f y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccd y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcce y5dcf w5cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">662<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccf y5dcf w11a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd0 y5dcf w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd1 y5dcf w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd2 y5dcf w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5dd0 w5ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 xc88 h11 y5b9e ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc89 y5dd0 w5a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd3 y5dd0 w5cd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">34,1<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd4 y5dd0 w5ce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">2<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd5 y5dd0 w3f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">14<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd6 y5dd0 w4b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,<span class=\"_ _0\"></span>933<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd7 y5dd0 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd8 y5dd0 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd9 y5dd0 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcda y5dd0 w5cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _1\"></span>411<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdb y5dd0 w5d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">9<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b12 wf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdc y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdd y5b12 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">2,6<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcde y5b12 w5d1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,163<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdf y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce0 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce1 y5b12 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce2 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce3 y5b12 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4<span class=\"_ _0\"></span>,876<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce4 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce5 y5b12 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4,<span class=\"_ _0\"></span>876<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dd1 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5a46 w5c3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce6 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce7 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce8 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce9 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcea y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xceb y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcec y5a46 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xced y5a46 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcee y5a46 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcef y5a46 w5d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">9,<span class=\"_ _0\"></span>672<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf0 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf1 y5a47 w5d3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>254<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf2 y5a47 w5d4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4,<span class=\"_ _0\"></span>383<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca8 y5a47 w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">88<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaee y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf3 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf4 y5a47 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf5 y5a47 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf6 y5a47 w1f3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf7 y5a47 w10b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xc89 y5a16 w5a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd3 y5a16 w175 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39,39<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf8 y5a16 w5d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>452<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf9 y5a16 w4be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14,<span class=\"_ _0\"></span>857<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfa y5a16 w5d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,<span class=\"_ _0\"></span>933<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfb y5a16 w2c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">8,<span class=\"_ _0\"></span>262<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfc y5a16 w5d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">18<span class=\"_ _0\"></span>,27<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfd y5a16 w5d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">119,598<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfe y5a16 w5d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>49<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcff y5a16 w5da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">118,10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>For fin<span class=\"_ _0\"></span>ancia<span class=\"_ _0\"></span>l ass<span class=\"_ _0\"></span>ets th<span class=\"_ _0\"></span>at do not h<span class=\"_ _0\"></span>ave cre<span class=\"_ _0\"></span>dit rat<span class=\"_ _0\"></span>ings as<span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ed by ex<span class=\"_ _0\"></span>tern<span class=\"_ _0\"></span>al rat<span class=\"_ _0\"></span>ings a<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>ies<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up ass<span class=\"_ _0\"></span>igns in<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l ratin<span class=\"_ _0\"></span>gs for u<span class=\"_ _0\"></span>se in man<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>ment an<span class=\"_ _0\"></span>d moni<span class=\"_ _0\"></span>torin<span class=\"_ _0\"></span>g of credi<span class=\"_ _0\"></span>t risk<span class=\"_ _0\"></span>. \u00a316<span class=\"_ _0\"></span>9 mill<span class=\"_ _0\"></span>ion of AA<span class=\"_ _0\"></span>A<span class=\"_ _0\"></span>, \u00a31<span class=\"_ _0\"></span>,43<span class=\"_ _0\"></span>5 mill<span class=\"_ _0\"></span>ion of A<span class=\"_ _0\"></span>A, \u00a3<span class=\"_ _0\"></span>2,470 mil<span class=\"_ _0\"></span>lion of A<span class=\"_ _0\"></span>, \u00a31<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>9 milli<span class=\"_ _0\"></span>on of BB<span class=\"_ _0\"></span>B and \u00a3247 mi<span class=\"_ _0\"></span>llion of B<span class=\"_ _0\"></span>B and be<span class=\"_ _0\"></span>low deb<span class=\"_ _0\"></span>t sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s are inte<span class=\"_ _0\"></span>rnall<span class=\"_ _0\"></span>y rate<span class=\"_ _0\"></span>d. If a fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l asse<span class=\"_ _0\"></span>t is nei<span class=\"_ _0\"></span>ther r<span class=\"_ _0\"></span>ated by an e<span class=\"_ _0\"></span>xter<span class=\"_ _0\"></span>nal ag<span class=\"_ _0\"></span>enc<span class=\"_ _0\"></span>y nor inte<span class=\"_ _0\"></span>rnal<span class=\"_ _0\"></span>ly rat<span class=\"_ _0\"></span>ed, it i<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as \u2018non-<span class=\"_ _0\"></span>rated<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>N<span class=\"_ _0\"></span>on-ra<span class=\"_ _0\"></span>ted de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>udes e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y rele<span class=\"_ _0\"></span>ase mo<span class=\"_ _0\"></span>rtg<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>s with a val<span class=\"_ _0\"></span>ue of \u00a34,<span class=\"_ _0\"></span>48<span class=\"_ _0\"></span>6 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails ar<span class=\"_ _0\"></span>e set ou<span class=\"_ _0\"></span>t in note E2<span class=\"_ _0\"></span>.3) a<span class=\"_ _0\"></span>nd non<span class=\"_ _0\"></span>-rate<span class=\"_ _0\"></span>d bond<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Credit r<span class=\"_ _0\"></span>atings have n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t b<span class=\"_ _0\"></span>een disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e above table<span class=\"_ _0\"></span>s for the ass<span class=\"_ _0\"></span>ets of the unit-linked fun<span class=\"_ _0\"></span>ds since th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder is not dire<span class=\"_ _0\"></span>ctly expo<span class=\"_ _0\"></span>sed to<span class=\"_ gs47\"> </span>credi<span class=\"_ _0\"></span>t risks from thes<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s. In<span class=\"_ _0\"></span>cluded in unit-linked f<span class=\"_ _0\"></span>unds are as<span class=\"_ _0\"></span>sets whic<span class=\"_ _0\"></span>h are held as rein<span class=\"_ _0\"></span>sured ex<span class=\"_ _0\"></span>ternal fun<span class=\"_ _0\"></span>d links. Un<span class=\"_ _0\"></span>der cer<span class=\"_ _0\"></span>tain circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>shareho<span class=\"_ _0\"></span>lder may be ex<span class=\"_ _0\"></span>posed to l<span class=\"_ _0\"></span>osses re<span class=\"_ _0\"></span>lating to the def<span class=\"_ _0\"></span>ault of the reinsure<span class=\"_ _0\"></span>d exter<span class=\"_ _0\"></span>nal fund link<span class=\"_ _0\"></span>. Credit r<span class=\"_ _0\"></span>atings have n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t b<span class=\"_ _0\"></span>een disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e above table<span class=\"_ _0\"></span>s for holding<span class=\"_ _0\"></span>s in uncons<span class=\"_ _0\"></span>olidated co<span class=\"_ _0\"></span>llective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nts in as<span class=\"_ _0\"></span>sociates<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>cre<span class=\"_ _0\"></span>dit qualit<span class=\"_ _0\"></span>y of the underl<span class=\"_ _0\"></span>ying debt se<span class=\"_ _0\"></span>curities wi<span class=\"_ _0\"></span>thin these veh<span class=\"_ _0\"></span>icles is man<span class=\"_ _0\"></span>aged by th<span class=\"_ _0\"></span>e safegu<span class=\"_ _0\"></span>ards built into the inves<span class=\"_ _0\"></span>tment mandat<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>hese vehicl<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up maintain<span class=\"_ _0\"></span>s accurate an<span class=\"_ _0\"></span>d consis<span class=\"_ _0\"></span>tent risk ratin<span class=\"_ _0\"></span>gs acros<span class=\"_ _0\"></span>s its as<span class=\"_ _0\"></span>set por<span class=\"_ _0\"></span>tfolio. T<span class=\"_ _0\"></span>his enable<span class=\"_ _0\"></span>s manag<span class=\"_ _0\"></span>ement to foc<span class=\"_ _0\"></span>us on the appli<span class=\"_ _0\"></span>cable ris<span class=\"_ _0\"></span>ks and to<span class=\"_ gs47\"> </span>comp<span class=\"_ _0\"></span>are credit exp<span class=\"_ _0\"></span>osures ac<span class=\"_ _0\"></span>ross all line<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, ge<span class=\"_ _0\"></span>ograph<span class=\"_ _0\"></span>ical reg<span class=\"_ _0\"></span>ions and pro<span class=\"_ _0\"></span>ducts<span class=\"_ _0\"></span>. The ratin<span class=\"_ _0\"></span>g system i<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ted by a variet<span class=\"_ _0\"></span>y of financ<span class=\"_ _0\"></span>ial anal<span class=\"_ _0\"></span>ytic<span class=\"_ _0\"></span>s combine<span class=\"_ _0\"></span>d with market information to p<span class=\"_ _0\"></span>rovide the main inp<span class=\"_ _0\"></span>uts for the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of counterpa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y risk. All ri<span class=\"_ _0\"></span>sk ratings a<span class=\"_ _0\"></span>re tailored to th<span class=\"_ _0\"></span>e variou<span class=\"_ _0\"></span>s categ<span class=\"_ _0\"></span>ories of ass<span class=\"_ _0\"></span>ets and are a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sed an<span class=\"_ _0\"></span>d updated re<span class=\"_ _0\"></span>gularly.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up operate<span class=\"_ _0\"></span>s an Ass<span class=\"_ _0\"></span>et Manag<span class=\"_ _0\"></span>ement Ris<span class=\"_ _0\"></span>k Commit<span class=\"_ _0\"></span>tee, a Ra<span class=\"_ _0\"></span>ting Commi<span class=\"_ _0\"></span>ttee an<span class=\"_ _0\"></span>d a P<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Credit Co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>e to monitor and c<span class=\"_ _0\"></span>ontrol oversig<span class=\"_ _0\"></span>ht o<span class=\"_ _2\"></span>f inte<span class=\"_ _0\"></span>rnal credit r<span class=\"_ _0\"></span>atings for ex<span class=\"_ _0\"></span>ternall<span class=\"_ _0\"></span>y rated and inter<span class=\"_ _0\"></span>nally rated a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s. A variet<span class=\"_ _0\"></span>y of metho<span class=\"_ _0\"></span>ds are use<span class=\"_ _0\"></span>d to validate the app<span class=\"_ _0\"></span>ropriatene<span class=\"_ _0\"></span>ss of credi<span class=\"_ _0\"></span>t asse<span class=\"_ _0\"></span>ssment<span class=\"_ _0\"></span>s from exte<span class=\"_ _0\"></span>rnal inst<span class=\"_ _0\"></span>itutions an<span class=\"_ _0\"></span>d fund man<span class=\"_ _0\"></span>ager<span class=\"_ _0\"></span>s. Interna<span class=\"_ _0\"></span>lly rated as<span class=\"_ _0\"></span>sets are th<span class=\"_ _0\"></span>ose that do n<span class=\"_ _0\"></span>ot have a public ratin<span class=\"_ _0\"></span>g from an ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal credi<span class=\"_ _0\"></span>t rating ag<span class=\"_ _0\"></span>ency (\u2018<span class=\"_ _0\"></span>CRA\u2019) or from e<span class=\"_ _0\"></span>xterna<span class=\"_ _0\"></span>l asset m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>rs (where the m<span class=\"_ _0\"></span>ethodolo<span class=\"_ _0\"></span>gy and fr<span class=\"_ _0\"></span>amework is as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed as b<span class=\"_ _0\"></span>eing CR<span class=\"_ _0\"></span>A compar<span class=\"_ _0\"></span>able). Ins<span class=\"_ _0\"></span>tead, intern<span class=\"_ _0\"></span>al credit r<span class=\"_ _0\"></span>atings are us<span class=\"_ _0\"></span>ed by the Gro<span class=\"_ _0\"></span>up which are provide<span class=\"_ _0\"></span>d by fund man<span class=\"_ _0\"></span>agers o<span class=\"_ _0\"></span>r for cer<span class=\"_ _0\"></span>tain ass<span class=\"_ _0\"></span>ets (in par<span class=\"_ _0\"></span>ticular, equit<span class=\"_ _0\"></span>y relea<span class=\"_ _0\"></span>se mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es and illiquid a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y t<span class=\"_ _0\"></span>he Life Compani<span class=\"_ _0\"></span>es. The C<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>tees revie<span class=\"_ _0\"></span>w the policie<span class=\"_ _0\"></span>s, proc<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s and pra<span class=\"_ _0\"></span>ctices to e<span class=\"_ _0\"></span>nsure the approp<span class=\"_ _0\"></span>riatenes<span class=\"_ _0\"></span>s of the internal r<span class=\"_ _0\"></span>atings<span class=\"_ _0\"></span>, and to ensure t<span class=\"_ _0\"></span>hey are in line with re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y requirem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>Throu<span class=\"_ _0\"></span>ghout 2024<span class=\"_ _0\"></span>, the Group ha<span class=\"_ _0\"></span>s continue<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>dert<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>ctions to inc<span class=\"_ _0\"></span>rease th<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rall credit qu<span class=\"_ _0\"></span>ality of it<span class=\"_ _0\"></span>s asset p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio and miti<span class=\"_ _0\"></span>gate the impa<span class=\"_ _0\"></span>ct of future dow<span class=\"_ _0\"></span>ngrade<span class=\"_ _0\"></span>s on risk ca<span class=\"_ _0\"></span>pital. Addit<span class=\"_ _0\"></span>ionally, the Group ha<span class=\"_ _0\"></span>s increas<span class=\"_ _0\"></span>ed expo<span class=\"_ _0\"></span>sure to an array of illiquid cre<span class=\"_ _0\"></span>dit ass<span class=\"_ _0\"></span>ets such a<span class=\"_ _0\"></span>s equit<span class=\"_ _0\"></span>y releas<span class=\"_ _0\"></span>e mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es, c<span class=\"_ _0\"></span>ommercia<span class=\"_ _0\"></span>l real est<span class=\"_ _0\"></span>ate loans an<span class=\"_ _0\"></span>d in<span class=\"_ _2\"></span>fr<span class=\"_ _0\"></span>astru<span class=\"_ _0\"></span>cture loan<span class=\"_ _0\"></span>s. This is a<span class=\"_ _0\"></span>s a result of BP<span class=\"_ _2\"></span>A tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions with th<span class=\"_ _0\"></span>e aim of achieving g<span class=\"_ _0\"></span>reater divers<span class=\"_ _0\"></span>ification an<span class=\"_ _0\"></span>d inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment ret<span class=\"_ _0\"></span>urns, c<span class=\"_ _0\"></span>onsiste<span class=\"_ _0\"></span>nt with the Strate<span class=\"_ _0\"></span>gic Ass<span class=\"_ _0\"></span>et Alloc<span class=\"_ _0\"></span>ation and Risk A<span class=\"_ _0\"></span>ppetite approve<span class=\"_ _0\"></span>d by the Board<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A fur<span class=\"_ _0\"></span>ther indic<span class=\"_ _0\"></span>ator of the qualit<span class=\"_ _0\"></span>y of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets is the ex<span class=\"_ _0\"></span>tent to which th<span class=\"_ _0\"></span>ey are neithe<span class=\"_ _0\"></span>r past du<span class=\"_ _0\"></span>e nor impaire<span class=\"_ _0\"></span>d. All of the amo<span class=\"_ _0\"></span>unts in<span class=\"_ gs47\"> </span>the ta<span class=\"_ _0\"></span>ble above for the c<span class=\"_ _0\"></span>urrent and prior ye<span class=\"_ _0\"></span>ar are neithe<span class=\"_ _0\"></span>r past du<span class=\"_ _0\"></span>e nor impaire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Addition<span class=\"_ _0\"></span>al life company a<span class=\"_ _0\"></span>sset dis<span class=\"_ _0\"></span>closures are in<span class=\"_ _0\"></span>cluded o<span class=\"_ _0\"></span>n page 3<span class=\"_ _0\"></span>06 and in<span class=\"_ _0\"></span>clude informat<span class=\"_ _0\"></span>ion on the Group\u2019s market expo<span class=\"_ _0\"></span>sure analys<span class=\"_ _0\"></span>ed by credit ratin<span class=\"_ _0\"></span>g, sec<span class=\"_ _0\"></span>tor and co<span class=\"_ _0\"></span>untry of exp<span class=\"_ _0\"></span>osure for the sh<span class=\"_ _0\"></span>areholde<span class=\"_ _0\"></span>r debt por<span class=\"_ _0\"></span>tfolio.<span class=\"_ _3bd\"> </span>Imp<span class=\"_ _0\"></span>act of c<span class=\"_ _0\"></span>redit ri<span class=\"_ _0\"></span>sk on valu<span class=\"_ _0\"></span>e of finan<span class=\"_ _0\"></span>cial li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies des<span class=\"_ _0\"></span>ignate<span class=\"_ _0\"></span>d at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts and n<span class=\"_ _0\"></span>et asset va<span class=\"_ _0\"></span>lue attr<span class=\"_ _0\"></span>ibutable to unit<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s liabilities are de<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rmined ba<span class=\"_ _0\"></span>sed upo<span class=\"_ _0\"></span>n the per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e as<span class=\"_ _0\"></span>sets ba<span class=\"_ _0\"></span>cking thos<span class=\"_ _0\"></span>e liabilities<span class=\"_ _0\"></span>. This has th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t that the fair va<span class=\"_ _0\"></span>lue of the liabilit<span class=\"_ _0\"></span>y primaril<span class=\"_ _0\"></span>y reflect<span class=\"_ _0\"></span>s ass<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>specific p<span class=\"_ _0\"></span>erfor<span class=\"_ _0\"></span>mance ris<span class=\"_ _0\"></span>k rather tha<span class=\"_ _0\"></span>n credi<span class=\"_ _0\"></span>t risk. As a re<span class=\"_ _0\"></span>sult, the im<span class=\"_ _0\"></span>pact of cre<span class=\"_ _0\"></span>dit risk on the fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al liabilities de<span class=\"_ _0\"></span>signated a<span class=\"_ _0\"></span>t FV<span class=\"_ _0\"></span>TPL is not con<span class=\"_ _0\"></span>sidered to b<span class=\"_ _0\"></span>e significant<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Co<span class=\"_ _0\"></span>ncent<span class=\"_ _0\"></span>ratio<span class=\"_ _0\"></span>n of cred<span class=\"_ _0\"></span>it risk<span class=\"_ _3bd\"> </span>Con<span class=\"_ _0\"></span>centratio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit risk mig<span class=\"_ _0\"></span>ht exist whe<span class=\"_ _0\"></span>re the Group or it<span class=\"_ _0\"></span>s insuran<span class=\"_ _0\"></span>ce subsidia<span class=\"_ _0\"></span>ries has sig<span class=\"_ _0\"></span>nificant exp<span class=\"_ _0\"></span>osure to an individ<span class=\"_ _0\"></span>ual counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y or a<span class=\"_ gs47\"> </span>group of co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties with simil<span class=\"_ _0\"></span>ar<span class=\"_ gs47\"> </span>econ<span class=\"_ _0\"></span>omic chara<span class=\"_ _0\"></span>cteris<span class=\"_ _0\"></span>tics that wo<span class=\"_ _0\"></span>uld caus<span class=\"_ _0\"></span>e their abilit<span class=\"_ _0\"></span>y to mee<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>tual oblig<span class=\"_ _0\"></span>ations to be simil<span class=\"_ _0\"></span>arly affe<span class=\"_ _0\"></span>cted by chan<span class=\"_ _0\"></span>ges in ec<span class=\"_ _0\"></span>onomic an<span class=\"_ _0\"></span>d other<span class=\"_ gs47\"> </span>con<span class=\"_ _0\"></span>ditions. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s most of its c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk within it<span class=\"_ _0\"></span>s lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s and is monitore<span class=\"_ _0\"></span>d by the Group Credit Lim<span class=\"_ _0\"></span>it and Counte<span class=\"_ _0\"></span>rpar<span class=\"_ _0\"></span>ty Framewo<span class=\"_ _0\"></span>rk containe<span class=\"_ _0\"></span>d within the Gro<span class=\"_ _0\"></span>up Credit Risk Polic<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. It is f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r provided for in inves<span class=\"_ _0\"></span>tment man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent agre<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s, overlaid by re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y requirem<span class=\"_ _0\"></span>ents an<span class=\"_ _0\"></span>d the monitorin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>ggreg<span class=\"_ _0\"></span>ate counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y expos<span class=\"_ _0\"></span>ures acros<span class=\"_ _0\"></span>s the Group ag<span class=\"_ _0\"></span>ainst a<span class=\"_ _0\"></span>dditional Group c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ty lim<span class=\"_ _0\"></span>its. C<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk in respe<span class=\"_ _0\"></span>ct of over-the-<span class=\"_ _0\"></span>counter de<span class=\"_ _0\"></span>rivative counterp<span class=\"_ _0\"></span>artie<span class=\"_ _0\"></span>s is monitore<span class=\"_ _0\"></span>d using a<span class=\"_ gs47\"> </span>Potential Future E<span class=\"_ _0\"></span>xposure (<span class=\"_ _0\"></span>\u2018PFE\u2019<span class=\"_ _0\"></span>) value metr<span class=\"_ _0\"></span>ic.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is also exp<span class=\"_ _0\"></span>osed to co<span class=\"_ _0\"></span>ncentra<span class=\"_ _0\"></span>tion risk with ou<span class=\"_ _0\"></span>tsourc<span class=\"_ _0\"></span>e partn<span class=\"_ _0\"></span>ers. T<span class=\"_ _0\"></span>he Group op<span class=\"_ _0\"></span>erates a<span class=\"_ gs47\"> </span>poli<span class=\"_ _0\"></span>cy to manag<span class=\"_ _0\"></span>e outs<span class=\"_ _0\"></span>ourcer se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y expo<span class=\"_ _0\"></span>sures and th<span class=\"_ _0\"></span>e impact fro<span class=\"_ _0\"></span>m default is reviewe<span class=\"_ _0\"></span>d regular<span class=\"_ _0\"></span>ly by executive co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>es and me<span class=\"_ _0\"></span>asured th<span class=\"_ _0\"></span>rough stre<span class=\"_ _0\"></span>ss and s<span class=\"_ _0\"></span>cenario te<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Reinsurance<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to credit ri<span class=\"_ _0\"></span>sk as a result of ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k transfer c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with reins<span class=\"_ _0\"></span>urers. T<span class=\"_ _0\"></span>he Group\u2019s policy is to pl<span class=\"_ _0\"></span>ace reins<span class=\"_ _0\"></span>urance onl<span class=\"_ _0\"></span>y with hig<span class=\"_ _0\"></span>hly rated co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties. T<span class=\"_ _0\"></span>he Group res<span class=\"_ _0\"></span>trict<span class=\"_ _0\"></span>s concent<span class=\"_ _0\"></span>ration with indiv<span class=\"_ _0\"></span>idual ex<span class=\"_ _0\"></span>ternal reins<span class=\"_ _0\"></span>urers by spe<span class=\"_ _0\"></span>cify<span class=\"_ _0\"></span>ing limits on c<span class=\"_ _0\"></span>eding and m<span class=\"_ _0\"></span>inimum con<span class=\"_ _0\"></span>ditions for ac<span class=\"_ _0\"></span>ceptanc<span class=\"_ _0\"></span>e and retention of re<span class=\"_ _0\"></span>insurers<span class=\"_ _0\"></span>. The Group h<span class=\"_ _0\"></span>as made p<span class=\"_ _0\"></span>rogress in in<span class=\"_ _0\"></span>creasin<span class=\"_ _0\"></span>g the numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f<span class=\"_ gs47\"> </span>re<span class=\"_ _0\"></span>insurers it tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>ts with<span class=\"_ _0\"></span>, however, an elem<span class=\"_ _0\"></span>ent of conce<span class=\"_ _0\"></span>ntration rema<span class=\"_ _0\"></span>ins due to the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce market and th<span class=\"_ _0\"></span>e restric<span class=\"_ _0\"></span>ted rang<span class=\"_ _0\"></span>e of reinsurers ava<span class=\"_ _0\"></span>ilable. The Group m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>s its expo<span class=\"_ _0\"></span>sure to reinsuran<span class=\"_ _0\"></span>ce credit r<span class=\"_ _0\"></span>isk through t<span class=\"_ _0\"></span>he operat<span class=\"_ _0\"></span>ion of a credit poli<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, co<span class=\"_ _0\"></span>llateralisa<span class=\"_ _0\"></span>tion, and re<span class=\"_ _0\"></span>gular mo<span class=\"_ _0\"></span>nitoring of expo<span class=\"_ _0\"></span>sures at the Rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Manag<span class=\"_ _0\"></span>ement C<span class=\"_ _0\"></span>ommitte<span class=\"_ _0\"></span>e and other c<span class=\"_ _0\"></span>redit focu<span class=\"_ _0\"></span>sed com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Collatera<span class=\"_ _0\"></span>l<span class=\"_ _3bd\"> </span>The cre<span class=\"_ _0\"></span>dit risk of the Gro<span class=\"_ _0\"></span>up is mitigate<span class=\"_ _0\"></span>d, in cer<span class=\"_ _0\"></span>tain circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces<span class=\"_ _0\"></span>, by entering into colla<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ral agre<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>. The am<span class=\"_ _0\"></span>ount and t<span class=\"_ _0\"></span>ype of collater<span class=\"_ _0\"></span>al require<span class=\"_ _0\"></span>d depen<span class=\"_ _0\"></span>ds on an as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of the credi<span class=\"_ _0\"></span>t risk of the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y. Guideline<span class=\"_ _0\"></span>s are impleme<span class=\"_ _0\"></span>nted reg<span class=\"_ _0\"></span>arding the ac<span class=\"_ _0\"></span>ceptabilit<span class=\"_ _0\"></span>y of t<span class=\"_ _0\"></span>ypes of collate<span class=\"_ _0\"></span>ral and the va<span class=\"_ _0\"></span>luation par<span class=\"_ _0\"></span>ameters<span class=\"_ _0\"></span>. Collate<span class=\"_ _0\"></span>ral is mainly o<span class=\"_ _0\"></span>btained in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>tock len<span class=\"_ _0\"></span>ding, ce<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>in reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s and to provide se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>y agains<span class=\"_ _0\"></span>t the daily ma<span class=\"_ _0\"></span>rk to model val<span class=\"_ _0\"></span>ue of derivative finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>truments<span class=\"_ _0\"></span>. Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt monitors th<span class=\"_ _0\"></span>e market value of the co<span class=\"_ _0\"></span>llateral rec<span class=\"_ _0\"></span>eived, requ<span class=\"_ _0\"></span>ests a<span class=\"_ _0\"></span>dditional c<span class=\"_ _0\"></span>ollateral wh<span class=\"_ _0\"></span>en nee<span class=\"_ _0\"></span>ded, an<span class=\"_ _0\"></span>d perfor<span class=\"_ _0\"></span>ms an impairm<span class=\"_ _0\"></span>ent valuation wh<span class=\"_ _0\"></span>en impairme<span class=\"_ _0\"></span>nt indicator<span class=\"_ _0\"></span>s exist<span class=\"_ _0\"></span>. See<span class=\"_ gs47\"> </span>note E4 for fur<span class=\"_ _0\"></span>ther informati<span class=\"_ _2\"></span>on on collateral arrangem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>2 Market ris<span class=\"_ _0\"></span>k<span class=\"_ _3bd\"> </span>Market risk i<span class=\"_ _0\"></span>s the risk of los<span class=\"_ _0\"></span>s or of adverse c<span class=\"_ _0\"></span>hange in th<span class=\"_ _0\"></span>e financial s<span class=\"_ _0\"></span>ituation res<span class=\"_ _0\"></span>ulting, dire<span class=\"_ _0\"></span>ctly or in<span class=\"_ _0\"></span>directly, from fluc<span class=\"_ _0\"></span>tuation<span class=\"_ _0\"></span>s in the level and in th<span class=\"_ _0\"></span>e volatilit<span class=\"_ _0\"></span>y of market price<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, liabiliti<span class=\"_ _0\"></span>es and finan<span class=\"_ _0\"></span>cial inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>risk t<span class=\"_ _0\"></span>ypic<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from exposure to e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and fixe<span class=\"_ _0\"></span>d income as<span class=\"_ _0\"></span>set clas<span class=\"_ _0\"></span>ses and th<span class=\"_ _0\"></span>e impact of ch<span class=\"_ _0\"></span>anges in inte<span class=\"_ _0\"></span>rest rate<span class=\"_ _0\"></span>s, inflatio<span class=\"_ _0\"></span>n rates and cur<span class=\"_ _0\"></span>rency exch<span class=\"_ _0\"></span>ange rate<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is mainly ex<span class=\"_ _0\"></span>posed to m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk as a result of<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the m<span class=\"_ _0\"></span>ismatch bet<span class=\"_ _0\"></span>ween li<span class=\"_ _0\"></span>ability p<span class=\"_ _0\"></span>rofiles and the re<span class=\"_ _0\"></span>lated as<span class=\"_ _0\"></span>set investm<span class=\"_ _0\"></span>ent por<span class=\"_ _0\"></span>tfolios<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the inves<span class=\"_ _0\"></span>tment of as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld to meet re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capit<span class=\"_ _0\"></span>al and solve<span class=\"_ _0\"></span>ncy require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the inves<span class=\"_ _0\"></span>tment of surp<span class=\"_ _0\"></span>lus asse<span class=\"_ _0\"></span>ts inclu<span class=\"_ _0\"></span>ding shareh<span class=\"_ _0\"></span>older res<span class=\"_ _0\"></span>erves yet to b<span class=\"_ _0\"></span>e distribute<span class=\"_ _0\"></span>d, surplu<span class=\"_ _0\"></span>s asset<span class=\"_ _0\"></span>s within the with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds and as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld to mee<span class=\"_ _0\"></span>t regulator<span class=\"_ _0\"></span>y cap<span class=\"_ _0\"></span>ital and s<span class=\"_ _0\"></span>olvency re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the in<span class=\"_ _0\"></span>come flow of ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent charg<span class=\"_ _0\"></span>es derived f<span class=\"_ _0\"></span>rom the value of investe<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>ts of the busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up manag<span class=\"_ _0\"></span>es the levels of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk that it ac<span class=\"_ _0\"></span>cepts thro<span class=\"_ _0\"></span>ugh the op<span class=\"_ _0\"></span>eration of a market risk p<span class=\"_ _0\"></span>olicy usin<span class=\"_ _0\"></span>g a number of cont<span class=\"_ _0\"></span>rols and tech<span class=\"_ _0\"></span>niques incl<span class=\"_ _0\"></span>uding:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>defin<span class=\"_ _0\"></span>ed list<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ermit<span class=\"_ _0\"></span>ted sec<span class=\"_ _0\"></span>urities and<span class=\"_ _0\"></span>/<span class=\"_ _4\"></span>or app<span class=\"_ _0\"></span>lication of invest<span class=\"_ _0\"></span>ment cons<span class=\"_ _0\"></span>traints an<span class=\"_ _0\"></span>d por<span class=\"_ _0\"></span>tfolio limit<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls13 ws14\">clearly defined investment benchm<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>s for policyholder and shareholde<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span> f<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>nds<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>s<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>chas<span class=\"_ _0\"></span>tic and determin<span class=\"_ _0\"></span>istic as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility m<span class=\"_ _0\"></span>odelling;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ac<span class=\"_ _0\"></span>tive use of derivat<span class=\"_ _0\"></span>ives to improve the match<span class=\"_ _0\"></span>ing chara<span class=\"_ _0\"></span>cteris<span class=\"_ _0\"></span>tics of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities and to re<span class=\"_ _0\"></span>duce the ri<span class=\"_ _0\"></span>sk exposure of a p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>set<span class=\"_ _0\"></span>ting ris<span class=\"_ _0\"></span>k limits for main m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et r<span class=\"_ _0\"></span>isks and man<span class=\"_ _0\"></span>aging exp<span class=\"_ _0\"></span>osures ag<span class=\"_ _0\"></span>ainst th<span class=\"_ _0\"></span>ese appe<span class=\"_ _0\"></span>tites.<span class=\"_ _3bd\"> </span>All ope<span class=\"_ _0\"></span>rations co<span class=\"_ _0\"></span>mply with reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y requireme<span class=\"_ _0\"></span>nts relatin<span class=\"_ _0\"></span>g to the taking of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ris<span class=\"_ _0\"></span>k.<span class=\"_ _3bd\"> </span>As<span class=\"_ _0\"></span>sets in the s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>er funds are m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d again<span class=\"_ _0\"></span>st benc<span class=\"_ _0\"></span>hmarks that e<span class=\"_ _0\"></span>nsure they are dive<span class=\"_ _0\"></span>rsified a<span class=\"_ _0\"></span>cross a ra<span class=\"_ _0\"></span>nge of ass<span class=\"_ _0\"></span>et clas<span class=\"_ _0\"></span>ses, in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts and ge<span class=\"_ _0\"></span>ographi<span class=\"_ _0\"></span>es that are app<span class=\"_ _0\"></span>ropriate to the liabili<span class=\"_ _0\"></span>ties of the fund<span class=\"_ _0\"></span>s or are held to matc<span class=\"_ _0\"></span>h the cash fl<span class=\"_ _0\"></span>ows anticipate<span class=\"_ _0\"></span>d to arise in the b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>. A combin<span class=\"_ _0\"></span>ation of limits by n<span class=\"_ _0\"></span>ame of issue<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, se<span class=\"_ _0\"></span>ctor<span class=\"_ _2\"></span>, ge<span class=\"_ _0\"></span>ograp<span class=\"_ _0\"></span>hical re<span class=\"_ _0\"></span>gion and cre<span class=\"_ _0\"></span>dit rating are us<span class=\"_ _0\"></span>ed where re<span class=\"_ _0\"></span>levant to reduc<span class=\"_ _0\"></span>e conce<span class=\"_ _0\"></span>ntration risk am<span class=\"_ _0\"></span>ong the as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld.<span class=\"_ _3bd\"> </span>The as<span class=\"_ _0\"></span>sets of th<span class=\"_ _0\"></span>e parti<span class=\"_ _0\"></span>cipating bus<span class=\"_ _0\"></span>iness are p<span class=\"_ _0\"></span>rincipally m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d to suppor<span class=\"_ _0\"></span>t the liabilit<span class=\"_ _0\"></span>ies of the par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s and are app<span class=\"_ _0\"></span>ropriately divers<span class=\"_ _0\"></span>ified by<span class=\"_ gs47\"> </span>both as<span class=\"_ _0\"></span>set clas<span class=\"_ _0\"></span>s and ge<span class=\"_ _0\"></span>ograp<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>y, cons<span class=\"_ _0\"></span>idering:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic liabilit<span class=\"_ _0\"></span>y and how this vari<span class=\"_ _0\"></span>es with market con<span class=\"_ _0\"></span>ditions;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the n<span class=\"_ _0\"></span>eed to inves<span class=\"_ _0\"></span>t asset<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ting pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>ting busine<span class=\"_ _0\"></span>ss in a mann<span class=\"_ _0\"></span>er consis<span class=\"_ _0\"></span>tent with the p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ating polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s\u2019 reason<span class=\"_ _0\"></span>able expe<span class=\"_ _0\"></span>ctation<span class=\"_ _0\"></span>s and Prin<span class=\"_ _0\"></span>ciples and Pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>es of Financi<span class=\"_ _0\"></span>al Manag<span class=\"_ _0\"></span>ement (<span class=\"_ _0\"></span>\u2018PPFM<span class=\"_ _0\"></span>\u2019)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the n<span class=\"_ _0\"></span>eed to en<span class=\"_ _0\"></span>sure that reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y and capit<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents are me<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>In pra<span class=\"_ _0\"></span>ctice, a<span class=\"_ _0\"></span>n element of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk arises a<span class=\"_ _0\"></span>s a conse<span class=\"_ _0\"></span>quence of th<span class=\"_ _0\"></span>e need to b<span class=\"_ _0\"></span>alance th<span class=\"_ _0\"></span>ese con<span class=\"_ _0\"></span>sideration<span class=\"_ _0\"></span>s, for exam<span class=\"_ _0\"></span>ple, in cer<span class=\"_ _0\"></span>tain ins<span class=\"_ _0\"></span>tanc<span class=\"_ _0\"></span>es par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g policyh<span class=\"_ _0\"></span>olders m<span class=\"_ _0\"></span>ay expec<span class=\"_ _0\"></span>t that equit<span class=\"_ _0\"></span>y market risk will b<span class=\"_ _0\"></span>e taken on their b<span class=\"_ _0\"></span>ehalf, and deriv<span class=\"_ _0\"></span>ative instrum<span class=\"_ _0\"></span>ents may b<span class=\"_ _0\"></span>e used to manage these<span class=\"_ _2\"></span> risks.<span class=\"_ _3bd\"> </span>Markets re<span class=\"_ _0\"></span>tain the potent<span class=\"_ _0\"></span>ial to be volatile pa<span class=\"_ _0\"></span>rticul<span class=\"_ _0\"></span>arly given ge<span class=\"_ _0\"></span>opolitic<span class=\"_ _0\"></span>al inst<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, with es<span class=\"_ _0\"></span>calation of re<span class=\"_ _0\"></span>gional c<span class=\"_ _0\"></span>onflicts a<span class=\"_ _0\"></span>nd increa<span class=\"_ _0\"></span>sing protec<span class=\"_ _0\"></span>tionist polic<span class=\"_ _0\"></span>ies able to resul<span class=\"_ _0\"></span>t in increas<span class=\"_ _0\"></span>ed inflation<span class=\"_ _0\"></span>ary pre<span class=\"_ _0\"></span>ssures d<span class=\"_ _0\"></span>ue to global p<span class=\"_ _0\"></span>olicy chan<span class=\"_ _0\"></span>ges and s<span class=\"_ _0\"></span>upply chan<span class=\"_ _0\"></span>ge disrupti<span class=\"_ _0\"></span>on. More de<span class=\"_ _0\"></span>tail is<span class=\"_ gs47\"> </span>covered w<span class=\"_ _0\"></span>ithin the Prin<span class=\"_ _0\"></span>cipal Risks se<span class=\"_ _0\"></span>ction wit<span class=\"_ _0\"></span>hin the Group\u2019s Annual Re<span class=\"_ _0\"></span>port a<span class=\"_ _0\"></span>nd Acco<span class=\"_ _0\"></span>unts. Inte<span class=\"_ _0\"></span>rest r<span class=\"_ _0\"></span>ate and i<span class=\"_ _0\"></span>nflatio<span class=\"_ _0\"></span>n risk<span class=\"_ _3bd\"> </span>Interes<span class=\"_ _0\"></span>t rate risk is th<span class=\"_ _0\"></span>e risk that the f<span class=\"_ _0\"></span>air value of future c<span class=\"_ _0\"></span>ash flows of a fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument will fl<span class=\"_ _0\"></span>uctuate rel<span class=\"_ _0\"></span>ative to the respe<span class=\"_ _0\"></span>ctive liabilit<span class=\"_ _0\"></span>y due to th<span class=\"_ _0\"></span>e impac<span class=\"_ _0\"></span>t of chang<span class=\"_ _0\"></span>es in market interes<span class=\"_ _0\"></span>t rates on the val<span class=\"_ _0\"></span>ue of interest-be<span class=\"_ _0\"></span>aring as<span class=\"_ _0\"></span>sets and o<span class=\"_ _0\"></span>n the value of fut<span class=\"_ _0\"></span>ure guarante<span class=\"_ _0\"></span>es provided un<span class=\"_ _0\"></span>der cer<span class=\"_ _0\"></span>tain contr<span class=\"_ _0\"></span>acts of ins<span class=\"_ _0\"></span>urance. T<span class=\"_ _0\"></span>he parag<span class=\"_ _0\"></span>raphs in this s<span class=\"_ _0\"></span>ection a<span class=\"_ _0\"></span>lso apply to infl<span class=\"_ _0\"></span>ation risk<span class=\"_ _0\"></span>, but referenc<span class=\"_ _0\"></span>es to fixed rate as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liabilities wo<span class=\"_ _0\"></span>uld be repla<span class=\"_ _0\"></span>ced with ind<span class=\"_ _0\"></span>ex-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is require<span class=\"_ _0\"></span>d to manage i<span class=\"_ _0\"></span>ts interes<span class=\"_ _0\"></span>t rate exposure<span class=\"_ _0\"></span>s in line with quali<span class=\"_ _0\"></span>tative risk app<span class=\"_ _0\"></span>etite state<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, quantitat<span class=\"_ _0\"></span>ive risk metric<span class=\"_ _0\"></span>s and any addi<span class=\"_ _0\"></span>tional hed<span class=\"_ _0\"></span>ging ben<span class=\"_ _0\"></span>chmarks<span class=\"_ _0\"></span>. Interest r<span class=\"_ _0\"></span>ate risk is man<span class=\"_ _0\"></span>aged by m<span class=\"_ _0\"></span>atching as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities whe<span class=\"_ _0\"></span>re practi<span class=\"_ _0\"></span>cable an<span class=\"_ _0\"></span>d by entering into deriv<span class=\"_ _0\"></span>ative arrang<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span> for he<span class=\"_ _0\"></span>dging purp<span class=\"_ _0\"></span>oses whe<span class=\"_ _0\"></span>re appropriate<span class=\"_ _0\"></span>. This is par<span class=\"_ _0\"></span>ticularl<span class=\"_ _0\"></span>y the case fo<span class=\"_ _0\"></span>r the non-pa<span class=\"_ _0\"></span>rticip<span class=\"_ _0\"></span>ating funds an<span class=\"_ _0\"></span>d suppor<span class=\"_ _0\"></span>ted par<span class=\"_ _0\"></span>ticipat<span class=\"_ _0\"></span>ing funds<span class=\"_ _0\"></span>. The market risks ari<span class=\"_ _0\"></span>sing from par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s are born prim<span class=\"_ _0\"></span>arily by the with<span class=\"_ _0\"></span>-profits poli<span class=\"_ _0\"></span>cyholde<span class=\"_ _0\"></span>rs. M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk exposure<span class=\"_ _0\"></span>s, incl<span class=\"_ _0\"></span>uding the exp<span class=\"_ _0\"></span>osure to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _0\"></span>, are set with t<span class=\"_ _0\"></span>he aims of (i) ensur<span class=\"_ _0\"></span>ing that the wit<span class=\"_ _0\"></span>h-profits fun<span class=\"_ _0\"></span>ds are stron<span class=\"_ _0\"></span>g enough to h<span class=\"_ _0\"></span>onour gu<span class=\"_ _0\"></span>arantees a<span class=\"_ _0\"></span>nd to smooth inves<span class=\"_ _0\"></span>tment retur<span class=\"_ _0\"></span>ns, an<span class=\"_ _0\"></span>d (ii) to optimis<span class=\"_ _0\"></span>e the risks and ret<span class=\"_ _0\"></span>urns for with-profi<span class=\"_ _0\"></span>ts polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s, takin<span class=\"_ _0\"></span>g into acco<span class=\"_ _0\"></span>unt previous unde<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>kings ma<span class=\"_ _0\"></span>de to policyh<span class=\"_ _0\"></span>olders a<span class=\"_ _0\"></span>s well as leg<span class=\"_ _0\"></span>al and reg<span class=\"_ _0\"></span>ulatory re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s.. In p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e, the life comp<span class=\"_ _0\"></span>anies of the Gro<span class=\"_ _0\"></span>up maintain an<span class=\"_ gs47\"> </span>ap<span class=\"_ _0\"></span>propriate mix of fixe<span class=\"_ _0\"></span>d and variab<span class=\"_ _0\"></span>le rate instr<span class=\"_ _0\"></span>uments ac<span class=\"_ _0\"></span>cording to the und<span class=\"_ _0\"></span>erlying ins<span class=\"_ _0\"></span>urance or inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s and will review thi<span class=\"_ _0\"></span>s at regular inte<span class=\"_ _0\"></span>rvals to en<span class=\"_ _0\"></span>sure that overall e<span class=\"_ _0\"></span>xposure is kept within th<span class=\"_ _0\"></span>e risk profile agre<span class=\"_ _0\"></span>ed for eac<span class=\"_ _0\"></span>h part<span class=\"_ _0\"></span>icular fund<span class=\"_ _0\"></span>. This also re<span class=\"_ _0\"></span>quires the ma<span class=\"_ _0\"></span>turity p<span class=\"_ _0\"></span>rofile of these as<span class=\"_ _0\"></span>sets to<span class=\"_ gs47\"> </span>b<span class=\"_ _0\"></span>e manag<span class=\"_ _0\"></span>ed in line with th<span class=\"_ _0\"></span>e liabilities to po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>ers.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis for interest r<span class=\"_ _0\"></span>ate and inflation r<span class=\"_ _0\"></span>isk indicate<span class=\"_ _0\"></span>s how chan<span class=\"_ _0\"></span>ges in the fair va<span class=\"_ _0\"></span>lue or future c<span class=\"_ _0\"></span>ash flows of a fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument ari<span class=\"_ _0\"></span>sing from chan<span class=\"_ _0\"></span>ges in mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et intere<span class=\"_ _0\"></span>st and inflat<span class=\"_ _0\"></span>ion rates at the re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing date result in a ch<span class=\"_ _0\"></span>ange in profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x, eq<span class=\"_ _0\"></span>uity an<span class=\"_ _0\"></span>d CSM<span class=\"_ _0\"></span>. It takes into acc<span class=\"_ _0\"></span>ount the ef<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ct of such ch<span class=\"_ _0\"></span>anges in m<span class=\"_ _0\"></span>arket interest an<span class=\"_ _0\"></span>d inflation rates o<span class=\"_ _0\"></span>n all asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies that contr<span class=\"_ _0\"></span>ibute to the Group\u2019s repor<span class=\"_ _0\"></span>ted profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x and in equit<span class=\"_ _0\"></span>y.<span class=\"_ _3bd\"> </span>With-p<span class=\"_ _0\"></span>rofits busin<span class=\"_ _0\"></span>ess and n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s within the with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds are expos<span class=\"_ _0\"></span>ed to interes<span class=\"_ _0\"></span>t rate risk as gu<span class=\"_ _0\"></span>arantee<span class=\"_ _0\"></span>d liabilities are value<span class=\"_ _0\"></span>d relative to market interes<span class=\"_ _0\"></span>t rates and inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s include fixe<span class=\"_ _0\"></span>d interest s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and derivat<span class=\"_ _0\"></span>ives. For uns<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>ted with-profit<span class=\"_ _0\"></span>s busine<span class=\"_ _0\"></span>ss the profit or lo<span class=\"_ _0\"></span>ss arising f<span class=\"_ _0\"></span>rom mismatch<span class=\"_ _0\"></span>es bet<span class=\"_ _0\"></span>ween suc<span class=\"_ _0\"></span>h asset<span class=\"_ _0\"></span>s and liabilitie<span class=\"_ _0\"></span>s is largel<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>fset by in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d or reduc<span class=\"_ _0\"></span>ed discret<span class=\"_ _0\"></span>ionar<span class=\"_ _0\"></span>y policyh<span class=\"_ _0\"></span>older ben<span class=\"_ _0\"></span>efits dep<span class=\"_ _0\"></span>endent on th<span class=\"_ _0\"></span>e existen<span class=\"_ _0\"></span>ce of policyh<span class=\"_ _0\"></span>older gu<span class=\"_ _0\"></span>arantees<span class=\"_ _0\"></span>. The cont<span class=\"_ _0\"></span>ribution of unsup<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d part<span class=\"_ _0\"></span>icipating bu<span class=\"_ _0\"></span>siness to th<span class=\"_ _0\"></span>e Group result i<span class=\"_ _0\"></span>s large<span class=\"_ _0\"></span>ly limited to the s<span class=\"_ _0\"></span>harehol<span class=\"_ _0\"></span>ders\u2019 share of bo<span class=\"_ _0\"></span>nuses<span class=\"_ _0\"></span>. The contr<span class=\"_ _0\"></span>ibution of the sup<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>ticipating bu<span class=\"_ _0\"></span>siness to th<span class=\"_ _0\"></span>e Group result i<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d in<span class=\"_ gs47\"> </span>line with I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>, which exp<span class=\"_ _0\"></span>oses th<span class=\"_ _0\"></span>e sharehol<span class=\"_ _0\"></span>der to chan<span class=\"_ _0\"></span>ges in the val<span class=\"_ _0\"></span>ue of the liabilities b<span class=\"_ _0\"></span>acked by share<span class=\"_ _0\"></span>holder as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd the value of c<span class=\"_ _0\"></span>apital advan<span class=\"_ _0\"></span>ced to the wi<span class=\"_ _0\"></span>th-profits f<span class=\"_ _0\"></span>unds. In the n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating f<span class=\"_ _0\"></span>unds, p<span class=\"_ _0\"></span>olicy liabilit<span class=\"_ _0\"></span>ies\u2019 sensiti<span class=\"_ _0\"></span>vity to intere<span class=\"_ _0\"></span>st rates are m<span class=\"_ _0\"></span>atched pr<span class=\"_ _0\"></span>imarily with de<span class=\"_ _0\"></span>bt securit<span class=\"_ _0\"></span>ies and he<span class=\"_ _0\"></span>dging if ne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary to match d<span class=\"_ _0\"></span>uration on a reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y basis for the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s S<span class=\"_ _0\"></span>olvency I<span class=\"_ _0\"></span>I position<span class=\"_ _0\"></span>, with the res<span class=\"_ _0\"></span>ult that sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y to chang<span class=\"_ _0\"></span>es in interest r<span class=\"_ _0\"></span>ates is ver<span class=\"_ _0\"></span>y low<span class=\"_ _2\"></span>. T<span class=\"_ _0\"></span>he Group\u2019s expos<span class=\"_ _0\"></span>ure to interest rate<span class=\"_ _0\"></span>s on an IFRS b<span class=\"_ _0\"></span>asis princip<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from the Group\u2019s hedg<span class=\"_ _0\"></span>ing strate<span class=\"_ _0\"></span>gy to protec<span class=\"_ _0\"></span>t the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>osition, which re<span class=\"_ _0\"></span>sults in an ad<span class=\"_ _0\"></span>verse impa<span class=\"_ _0\"></span>ct on profit on a<span class=\"_ _0\"></span>n increas<span class=\"_ _0\"></span>e in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest rate<span class=\"_ _0\"></span>s. The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to inflation ris<span class=\"_ _0\"></span>k through c<span class=\"_ _0\"></span>erta<span class=\"_ _0\"></span>in contrac<span class=\"_ _0\"></span>ts, s<span class=\"_ _0\"></span>uch as annu<span class=\"_ _0\"></span>ities, wh<span class=\"_ _0\"></span>ich may provide for f<span class=\"_ _0\"></span>uture benefi<span class=\"_ _0\"></span>ts to be paid t<span class=\"_ _0\"></span>aking ac<span class=\"_ _0\"></span>count of chan<span class=\"_ _0\"></span>ges in the leve<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>ed and imp<span class=\"_ _0\"></span>lied inflation<span class=\"_ _0\"></span>, and als<span class=\"_ _0\"></span>o through th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ost bas<span class=\"_ _0\"></span>e. The Group s<span class=\"_ _0\"></span>eeks to man<span class=\"_ _0\"></span>age inflati<span class=\"_ _0\"></span>on risk within the ALM fr<span class=\"_ _0\"></span>amework thro<span class=\"_ _0\"></span>ugh the hol<span class=\"_ _0\"></span>ding of derivatives<span class=\"_ _0\"></span>, such a<span class=\"_ _0\"></span>s inflation swap<span class=\"_ _0\"></span>s, or physic<span class=\"_ _0\"></span>al posit<span class=\"_ _0\"></span>ions in relevant a<span class=\"_ _0\"></span>ssets<span class=\"_ _0\"></span>, such a<span class=\"_ _0\"></span>s index-linked gilt<span class=\"_ _0\"></span>s, where appropri<span class=\"_ _2\"></span>ate.<span class=\"_ _3bd\"> </span>The intere<span class=\"_ _0\"></span>st rate se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y reflec<span class=\"_ _0\"></span>ts a 10<span class=\"_ _0\"></span>0bps ch<span class=\"_ _0\"></span>ange in ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-free yie<span class=\"_ _0\"></span>lds at eac<span class=\"_ _0\"></span>h time step on th<span class=\"_ _0\"></span>e risk-<span class=\"_ _2\"></span>fre<span class=\"_ _0\"></span>e curve ap<span class=\"_ _0\"></span>plied to as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities as at the ba<span class=\"_ _0\"></span>lance sh<span class=\"_ _0\"></span>eet date.<span class=\"_ gs47\"> </span> Th<span class=\"_ _0\"></span>e illiquidit<span class=\"_ _0\"></span>y premium use<span class=\"_ _0\"></span>d in the mea<span class=\"_ _0\"></span>surement of ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, and a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, as an addit<span class=\"_ _0\"></span>ion to the risk-free cur<span class=\"_ _0\"></span>ve does not c<span class=\"_ _0\"></span>hange a<span class=\"_ _0\"></span>s a result of this se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5db h24f\" id=\"_ab27d388-f861-4984-944f-7a8f5f85a781\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5dd2 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5dd2 w5dc h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa31 h29 y5dd3 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5dd3 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3ba h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit  </td><td class=\"t m0 x2e5 h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5dd4 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5dd4 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5dd4 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 x936 h29 y5dd5 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd05 h29 y5dd5 ff3 fs5 fc3 sc0 ls22 ws24\">after tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd06 h29 y5dd5 ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5dd5 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xd08 ha y5dd5 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5dd5 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5dd5 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa2c h29 y5dd6 ff3 fs5 fc3 sc0 ls22 ws24\">interest rate<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dd7 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd09 y5dd7 w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0a y5dd7 w5df h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,717<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0b y5dd7 w5e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,717<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0c y5dd7 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0d y5dd7 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,9<span class=\"_ _0\"></span>46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0e y5dd7 w1a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0f y5dd7 w204 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dd8 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd10 y5dd8 w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd11 y5dd8 w5e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd12 y5dd8 w5e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd13 y5dd8 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd14 y5dd8 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>935<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd15 y5dd8 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>935<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd16 y5dd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dd9 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5dda w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd17 y5dda w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd18 y5dda w5e6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd19 y5dda w5e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3,<span class=\"_ _0\"></span>991<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1a y5dda we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1b y5dda w1f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4,3<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1c y5dda w1f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4,3<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1d y5dda wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5ddb ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ddc w5e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">inv<span class=\"_ _2\"></span>estment con<span class=\"_ _2\"></span>tract without<span class=\"_ _2\"></span> DPF balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1e y5ddc w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1f y5ddc w5e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,095<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd20 y5ddc w5ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,0<span class=\"_ _0\"></span>95)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd21 y5ddc w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd22 y5ddc w31c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd23 y5ddc w31c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>934)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd24 y5ddc wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ddd w5eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd25 y5ddd w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd26 y5ddd w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd27 y5ddd w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(168)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd28 y5ddd we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd29 y5ddd w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>222)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2a y5ddd w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>222)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2b y5ddd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dde w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2c y5dde w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2d y5dde w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5dde w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2e y5dde w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2f y5dde wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd30 y5dde w4b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd31 y5dde wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x934 y5ddf w5ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(4<span class=\"_ _0\"></span>40)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd32 y5ddf w5ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>313)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd33 y5ddf w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd34 y5ddf w1e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(60<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd35 y5ddf w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(3<span class=\"_ _0\"></span>35)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd36 y5ddf w1b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5de0 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd37 y5de0 w5ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd38 y5de0 w5f0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4<span class=\"_ _0\"></span>,493)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd39 y5de0 w279 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4<span class=\"_ _0\"></span>,49<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3a y5de0 w1d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3b y5de0 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>821<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3c y5de0 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>821<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3d y5de0 w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5de1 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3e y5de1 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3f y5de1 w5f3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>431<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd40 y5de1 w5f3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>431<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd41 y5de1 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd42 y5de1 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>216<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd43 y5de1 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>216<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd44 y5de1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5de2 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5de3 w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd45 y5de3 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd46 y5de3 w59d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,885<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd47 y5de3 w144 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,8<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd48 y5de3 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4db y5de3 w5f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">5,<span class=\"_ _0\"></span>390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd49 y5de3 w442 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">5,<span class=\"_ _0\"></span>390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b8 y5de3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5de4 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5de5 w5e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">inv<span class=\"_ _2\"></span>estment con<span class=\"_ _2\"></span>tract without<span class=\"_ _2\"></span> DPF balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4a y5de5 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4b y5de5 w5f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>428<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4c y5de5 w5f6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>428<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4d y5de5 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4e y5de5 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,21<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4f y5de5 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>215<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd50 y5de5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 w5eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd51 y5c34 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd52 y5c34 w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd53 y5c34 w4f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd54 y5c34 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd55 y5c34 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd56 y5c34 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd57 y5c34 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd58 y5b43 w5f7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd59 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5a y5b43 w1f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(155<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5b y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5c y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5d y5b43 w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>338)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5e y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x928 y5b4c w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">558<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5f y5b4c w169 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">403<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd60 y5b4c w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd61 y5b4c w24a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd62 y5b4c w240 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">452<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd63 y5b4c w1b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The infl<span class=\"_ _0\"></span>ation sensi<span class=\"_ _0\"></span>tivity refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s a 100<span class=\"_ _0\"></span>bps chan<span class=\"_ _0\"></span>ge in future infl<span class=\"_ _0\"></span>ation rates at e<span class=\"_ _0\"></span>ach time s<span class=\"_ _0\"></span>tep on the inflatio<span class=\"_ _0\"></span>n curve, w<span class=\"_ _0\"></span>ith no chan<span class=\"_ _0\"></span>ge in the risk-free interes<span class=\"_ _0\"></span>t rate cur<span class=\"_ _0\"></span>ve. The illiquidit<span class=\"_ _0\"></span>y premium u<span class=\"_ _0\"></span>sed in the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, and ass<span class=\"_ _0\"></span>ociated re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, as an additio<span class=\"_ _0\"></span>n to the ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-free intere<span class=\"_ _0\"></span>st rate cur<span class=\"_ _0\"></span>ve is adj<span class=\"_ _0\"></span>usted to refle<span class=\"_ _0\"></span>ct the imp<span class=\"_ _0\"></span>act on valu<span class=\"_ _0\"></span>es of inflation-linked ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s includ<span class=\"_ _0\"></span>ed within the refere<span class=\"_ _0\"></span>nce por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lio used to determin<span class=\"_ _0\"></span>e the illiquidit<span class=\"_ _0\"></span>y premium<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5f8 h250\" id=\"_fdd200cc-4ab4-45b4-ba2e-5d266529233f\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5de6 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5de6 w5dc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3a4 ha y5de7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5de7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3ba ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">profi<span class=\"_ _0\"></span>t  </td><td class=\"t m0 xcbd ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5de8 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 x936 h29 y5de9 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd05 ha y5de9 ff2 fs5 fc3 sc0 ls1 ws1\">af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x490 ha y5de9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 ha y5de9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM</td><td class=\"t m0 xd08 ha y5de9 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5de9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5de9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2e3 h29 y5dea ff3 fs5 fc3 sc0 lsa6 wsa1\">inflation<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5deb w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd09 y5deb w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd64 y5deb w279 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,18<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd65 y5deb w279 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,18<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd66 y5deb w331 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd67 y5deb w5f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>179<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd68 y5deb w31d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>179<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd69 y5deb wc3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dec w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd10 y5dec w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6a y5dec w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6b y5dec w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6c y5dec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6d y5dec w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6e y5dec w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6f y5dec wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ded ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking insur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dee w5fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">and rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd70 y5dee w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd71 y5dee w5fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd72 y5dee w5c4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd73 y5dee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd74 y5dee w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd75 y5dee w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd76 y5dee we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5def ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df0 w5fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">contract<span class=\"_ _2\"></span> without DPF<span class=\"_ _2\"></span> balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd77 y5df0 w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd78 y5df0 w166 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd79 y5df0 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7a y5df0 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7b y5df0 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7c y5df0 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df1 w130 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2c y5df1 w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2d y5df1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7d y5df1 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(11<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7e y5df1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7f y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd80 y5df1 w5fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x928 y5df2 w25a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd81 y5df2 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">375<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd82 y5df2 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd83 y5df2 w2c7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd84 y5df2 w533 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">174<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd85 y5df2 wc3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5df3 w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd37 y5df3 w5ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd86 y5df3 w25e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _1\"></span>,1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd87 y5df3 w50 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd88 y5df3 w136 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd89 y5df3 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,096<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8a y5df3 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,096<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8b y5df3 w4ef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5df4 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8c y5df4 w5f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8d y5df4 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58e y5df4 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8e y5df4 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8f y5df4 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd90 y5df4 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd91 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5df5 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking insur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w5fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd92 y5b12 w5f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd93 y5b12 w5fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd94 y5b12 w8c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd95 y5b12 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd96 y5b12 w329 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,30<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd97 y5b12 w329 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,30<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd98 y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5df6 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w5fc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">contract<span class=\"_ _2\"></span> without DPF<span class=\"_ _2\"></span> balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd99 y5b24 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9a y5b24 w5ff h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9b y5b24 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9c y5b24 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9d y5b24 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9e y5b24 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd58 y5b25 w5f7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd59 y5b25 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda0 y5b25 w2ae h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">109<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda1 y5b25 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda2 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda3 y5b25 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda4 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x934 y5a16 w600 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda5 y5a16 w601 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda6 y5a16 w602 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda7 y5a16 w603 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>213<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda8 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd36 y5a16 w345 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Equity and property risk<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to the risk of re<span class=\"_ _0\"></span>duction<span class=\"_ _0\"></span>s in the valuation of e<span class=\"_ _0\"></span>quities (or chan<span class=\"_ _0\"></span>ges in the vol<span class=\"_ _0\"></span>atility) or prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y investm<span class=\"_ _0\"></span>ents whic<span class=\"_ _0\"></span>h could res<span class=\"_ _0\"></span>ult in redu<span class=\"_ _0\"></span>ctions in as<span class=\"_ _0\"></span>set value<span class=\"_ _0\"></span>s and los<span class=\"_ _0\"></span>ses for polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs or share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. In this c<span class=\"_ _0\"></span>ontext, e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y asset<span class=\"_ _0\"></span>s should b<span class=\"_ _0\"></span>e taken to include s<span class=\"_ _0\"></span>hares<span class=\"_ _0\"></span>, equit<span class=\"_ _0\"></span>y deriva<span class=\"_ _0\"></span>tives, e<span class=\"_ _0\"></span>quity c<span class=\"_ _0\"></span>ollect<span class=\"_ _0\"></span>ives and unlis<span class=\"_ _0\"></span>ted equitie<span class=\"_ _0\"></span>s. Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y asse<span class=\"_ _0\"></span>ts inclu<span class=\"_ _0\"></span>de direct prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ment, sh<span class=\"_ _0\"></span>ares in prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y compan<span class=\"_ _0\"></span>ies, pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty colle<span class=\"_ _0\"></span>ctives an<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio of marketable e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y investm<span class=\"_ _0\"></span>ents which is c<span class=\"_ _0\"></span>arried in th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posit<span class=\"_ _0\"></span>ion at fair value h<span class=\"_ _0\"></span>as<span class=\"_ gs47\"> </span>exposure to p<span class=\"_ _0\"></span>rice risk<span class=\"_ _0\"></span>. The Group\u2019s obje<span class=\"_ _0\"></span>ctive in holdin<span class=\"_ _0\"></span>g these as<span class=\"_ _0\"></span>sets i<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>arn highe<span class=\"_ _0\"></span>r long-term ret<span class=\"_ _0\"></span>urns by investing in a di<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rse por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lio of equiti<span class=\"_ _0\"></span>es and prop<span class=\"_ _0\"></span>ertie<span class=\"_ _0\"></span>s. Port<span class=\"_ _0\"></span>folio cha<span class=\"_ _0\"></span>racteris<span class=\"_ _0\"></span>tics are a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>d regular<span class=\"_ _0\"></span>ly and price r<span class=\"_ _0\"></span>isks are active<span class=\"_ _0\"></span>ly manag<span class=\"_ _0\"></span>ed in line with inve<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>andates<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s hol<span class=\"_ _0\"></span>dings are diver<span class=\"_ _0\"></span>sified ac<span class=\"_ _0\"></span>ross indus<span class=\"_ _0\"></span>tries an<span class=\"_ _0\"></span>d concent<span class=\"_ _0\"></span>rations in any one c<span class=\"_ _0\"></span>ompany or ind<span class=\"_ _0\"></span>ustr<span class=\"_ _0\"></span>y are limited.<span class=\"_ _3bd\"> </span>Equit<span class=\"_ _0\"></span>y and prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y price ri<span class=\"_ _0\"></span>sk is primarily b<span class=\"_ _0\"></span>orne in resp<span class=\"_ _0\"></span>ect of as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld in with-profit<span class=\"_ _0\"></span>s funds<span class=\"_ _0\"></span>, unit-linked funds or e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y release m<span class=\"_ _0\"></span>ortg<span class=\"_ _0\"></span>ages in th<span class=\"_ _0\"></span>e non-p<span class=\"_ _0\"></span>rofit funds<span class=\"_ _0\"></span>. For unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d funds this ri<span class=\"_ _0\"></span>sk is borne by p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and a<span class=\"_ _0\"></span>sset movem<span class=\"_ _0\"></span>ents dire<span class=\"_ _0\"></span>ctly impa<span class=\"_ _0\"></span>ct unit price<span class=\"_ _0\"></span>s and hen<span class=\"_ _0\"></span>ce policy v<span class=\"_ _0\"></span>alues. For with-p<span class=\"_ _0\"></span>rofits funds p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lders\u2019 fut<span class=\"_ _0\"></span>ure bonuse<span class=\"_ _0\"></span>s will be impac<span class=\"_ _0\"></span>ted by the inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s achieved an<span class=\"_ _0\"></span>d henc<span class=\"_ _0\"></span>e the price ris<span class=\"_ _0\"></span>k, whilst t<span class=\"_ _0\"></span>he Group also h<span class=\"_ _0\"></span>as expos<span class=\"_ _0\"></span>ure to the value of gua<span class=\"_ _0\"></span>rantees provid<span class=\"_ _0\"></span>ed to with-profit<span class=\"_ _0\"></span>s policy<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. In addi<span class=\"_ _0\"></span>tion, som<span class=\"_ _0\"></span>e equit<span class=\"_ _0\"></span>y investme<span class=\"_ _0\"></span>nts are hel<span class=\"_ _0\"></span>d in respec<span class=\"_ _0\"></span>t of share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 f<span class=\"_ _0\"></span>unds. For th<span class=\"_ _0\"></span>e non-profit f<span class=\"_ _0\"></span>und proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y price risk fro<span class=\"_ _0\"></span>m equit<span class=\"_ _0\"></span>y releas<span class=\"_ _0\"></span>e mortg<span class=\"_ _0\"></span>ages i<span class=\"_ _0\"></span>s borne by the Gro<span class=\"_ _0\"></span>up with the aim of ac<span class=\"_ _0\"></span>hieving greate<span class=\"_ _0\"></span>r diversific<span class=\"_ _0\"></span>ation and inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s, con<span class=\"_ _0\"></span>sistent with th<span class=\"_ _0\"></span>e Strategi<span class=\"_ _0\"></span>c Asset A<span class=\"_ _0\"></span>llocation a<span class=\"_ _0\"></span>pproved by the Bo<span class=\"_ _0\"></span>ard. The Gro<span class=\"_ _0\"></span>up as a whole is expo<span class=\"_ _0\"></span>sed to pric<span class=\"_ _0\"></span>e risk fluct<span class=\"_ _0\"></span>uations impa<span class=\"_ _0\"></span>cting th<span class=\"_ _0\"></span>e income flow of m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment charg<span class=\"_ _0\"></span>es from the inves<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>ets of all fun<span class=\"_ _0\"></span>ds; this is prim<span class=\"_ _0\"></span>arily mana<span class=\"_ _0\"></span>ged through the use of derivatives<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Equit<span class=\"_ _0\"></span>y and prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y price ri<span class=\"_ _0\"></span>sk is manag<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh the agre<span class=\"_ _0\"></span>ement an<span class=\"_ _0\"></span>d monitoring of fin<span class=\"_ _0\"></span>ancial risk p<span class=\"_ _0\"></span>rofiles that are ap<span class=\"_ _0\"></span>propriate for ea<span class=\"_ _0\"></span>ch of the Group\u2019s life funds in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f m<span class=\"_ _0\"></span>aintaining a<span class=\"_ _0\"></span>dequate re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capita<span class=\"_ _0\"></span>l and Con<span class=\"_ _0\"></span>sumer Du<span class=\"_ _0\"></span>ty. This is larg<span class=\"_ _0\"></span>ely achieve<span class=\"_ _0\"></span>d through as<span class=\"_ _0\"></span>set cla<span class=\"_ _0\"></span>ss divers<span class=\"_ _0\"></span>ification an<span class=\"_ _0\"></span>d within the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s ALM fram<span class=\"_ _0\"></span>ework throug<span class=\"_ _0\"></span>h the holdin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>rivatives or physi<span class=\"_ _0\"></span>cal posi<span class=\"_ _0\"></span>tions in relevant a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s where approp<span class=\"_ _0\"></span>riate. The sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>ers\u2019 expos<span class=\"_ _0\"></span>ure to equit<span class=\"_ _0\"></span>y risk princip<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from the Group\u2019s hedg<span class=\"_ _0\"></span>ing stra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gy to protec<span class=\"_ _0\"></span>t the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>osition, w<span class=\"_ _0\"></span>hich result<span class=\"_ _0\"></span>s in an adver<span class=\"_ _0\"></span>se impac<span class=\"_ _0\"></span>t on profit on an inc<span class=\"_ _0\"></span>rease in eq<span class=\"_ _0\"></span>uity pri<span class=\"_ _0\"></span>ces.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis for equit<span class=\"_ _0\"></span>y and pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>y pric<span class=\"_ _0\"></span>e risk illustr<span class=\"_ _0\"></span>ates how a cha<span class=\"_ _0\"></span>nge in the fair v<span class=\"_ _0\"></span>alue of equitie<span class=\"_ _0\"></span>s and prope<span class=\"_ _0\"></span>rties af<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s the Group re<span class=\"_ _0\"></span>sult. It takes into ac<span class=\"_ _0\"></span>count the ef<span class=\"_ _0\"></span>fect of su<span class=\"_ _0\"></span>ch chang<span class=\"_ _0\"></span>es in equit<span class=\"_ _0\"></span>y and pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>es on all as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities tha<span class=\"_ _0\"></span>t contribute to the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d profit af<span class=\"_ _0\"></span>ter tax an<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y repre<span class=\"_ _0\"></span>sents a 1<span class=\"_ _0\"></span>0% chan<span class=\"_ _0\"></span>ge in equit<span class=\"_ _0\"></span>y price<span class=\"_ _0\"></span>s at the balan<span class=\"_ _0\"></span>ce she<span class=\"_ _0\"></span>et date.<span class=\"_ gs47\"> </span> This is ap<span class=\"_ _0\"></span>plied to investm<span class=\"_ _0\"></span>ent ass<span class=\"_ _0\"></span>ets/liabili<span class=\"_ _0\"></span>ties and to polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities direc<span class=\"_ _0\"></span>tly mea<span class=\"_ _0\"></span>sured with refere<span class=\"_ _0\"></span>nce to the val<span class=\"_ _0\"></span>ue of backing e<span class=\"_ _0\"></span>quities<span class=\"_ _0\"></span>, such as inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities, un<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed in<span class=\"_ _0\"></span>surance contr<span class=\"_ _0\"></span>acts an<span class=\"_ _0\"></span>d with-profit<span class=\"_ _0\"></span>s contrac<span class=\"_ _0\"></span>ts, a<span class=\"_ _0\"></span>nd ass<span class=\"_ _0\"></span>ociated rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts.<span class=\"_ gs47\"> </span> T<span class=\"_ _0\"></span>he illiquidit<span class=\"_ _0\"></span>y premiums us<span class=\"_ _0\"></span>ed in the me<span class=\"_ _0\"></span>asurem<span class=\"_ _0\"></span>ent of insuranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>acts do n<span class=\"_ _0\"></span>ot chang<span class=\"_ _0\"></span>e as a result of this s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y.<span class=\"_ _3bd\"> </span><table class=\"s w604 h251\" id=\"_53394692-fa43-447d-a69c-321e957b2104\"><tr><td></td><td></td><td></td><td class=\"c n xab2 y5de6 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xdaa y5de6 w5dc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xda9 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xdab h29 y5df7 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xdac ha y5df7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x782 h29 y5df8 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit  </td><td></td><td class=\"t m0 x57d h29 y5df8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x557 ha y5df8 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b ha y5df8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x802 ha y5df8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 xdad h29 y5df9 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 x5a4 h29 y5df9 ff3 fs5 fc3 sc0 ls22 ws24\">after tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59d h29 y5df9 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xaf9 h29 y5df9 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xb74 ha y5df9 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdae ha y5df9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdaf ha y5df9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xdb0 h29 y5dfa ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> pric<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x555 h29 y5dfa ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb1 h29 y5dfa ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe h29 y5dfa ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb2 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5deb w5dd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb4 y5deb w605 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb5 y5deb w606 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,239)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb6 y5deb w607 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2<span class=\"_ _0\"></span>,239)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb7 y5deb w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb8 y5deb w7b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2,<span class=\"_ _0\"></span>192)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb9 y5deb w608 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2,192)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x249 y5deb w123 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dec w5e1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdba y5dec w609 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbb y5dec w24d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbc y5dec w24d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbd y5dec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbe y5dec w1ff h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbf y5dec w60a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1a\"> </span>7,<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc0 y5dec wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfb ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dee w5e5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc1 y5dee w605 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc2 y5dee w60b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">2<span class=\"_ _0\"></span>,293<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc3 y5dee w41f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">2,<span class=\"_ _0\"></span>293<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc4 y5dee wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc5 y5dee w60c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>241<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0c y5dee w60c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>241<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc6 y5dee wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfc ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df0 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdba y5df0 w609 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc7 y5df0 w60d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc8 y5df0 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc9 y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdca y5df0 w1f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fc y5df0 w1f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcb y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df1 w60e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to equ<span class=\"_ _0\"></span>ity pric<span class=\"_ _0\"></span>e risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcc y5df1 w60f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcd y5df1 w610 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(20<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdce y5df1 w611 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(20<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcf y5df1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd0 y5df1 w4ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>223)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd1 y5df1 w612 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(223)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xdd2 y5df2 w613 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd3 y5df2 w614 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd4 y5df2 w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd5 y5df2 w28c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd6 y5df2 w615 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(<span class=\"_ _0\"></span>260<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd7 y5df2 w123 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df3 w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd8 y5df3 w616 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-10<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd9 y5df3 w617 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdda y5df3 w618 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddb y5df3 w619 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddc y5df3 w61a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,227<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddd y5df3 w61b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdde y5df3 w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df4 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5df4 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde0 y5df4 w61e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde1 y5df4 w61f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde2 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde3 y5df4 w620 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">8,07<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde4 y5df4 w621 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">8,07<span class=\"_ _4\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd98 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfd ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w5e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde5 y5b12 w622 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde6 y5b12 w623 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,3<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde7 y5b12 w425 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>,328<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde9 y5b12 w32b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,279)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdea y5b12 w6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>79)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdeb y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfe ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5b24 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdec y5b24 w624 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8,<span class=\"_ _0\"></span>208)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xded y5b24 w625 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>,20<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdee y5b24 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdef y5b24 w626 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(<span class=\"_ _0\"></span>7<span class=\"_ _3\"></span>,988)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf0 y5b24 w627 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(<span class=\"_ _0\"></span>7<span class=\"_ _4\"></span>,988)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x460 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w60e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to equ<span class=\"_ _0\"></span>ity pric<span class=\"_ _0\"></span>e risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf1 y5b25 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf2 y5b25 w628 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf3 y5b25 w277 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf4 y5b25 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf5 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf6 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf7 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xdf8 y5a16 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf9 y5a16 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfa y5a16 w1a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(50<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfb y5a16 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfc y5a16 w100 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">263<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfd y5a16 w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y repres<span class=\"_ _0\"></span>ents a 10<span class=\"_ _0\"></span>% chang<span class=\"_ _0\"></span>e in proper<span class=\"_ _0\"></span>ty pr<span class=\"_ _0\"></span>ices at the b<span class=\"_ _0\"></span>alance sh<span class=\"_ _0\"></span>eet date. Th<span class=\"_ _0\"></span>is is applied to inves<span class=\"_ _0\"></span>tment as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>/liabilities an<span class=\"_ _0\"></span>d to polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities direc<span class=\"_ _0\"></span>tly mea<span class=\"_ _0\"></span>sured with refere<span class=\"_ _0\"></span>nce to the val<span class=\"_ _0\"></span>ue of backing p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, such as inve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities<span class=\"_ _0\"></span>, unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>nd with-profit c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, an<span class=\"_ _0\"></span>d asso<span class=\"_ _0\"></span>ciated reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. The illi<span class=\"_ _0\"></span>quidity p<span class=\"_ _0\"></span>remium use<span class=\"_ _0\"></span>d in the valuatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f pr<span class=\"_ _0\"></span>imarily annuit<span class=\"_ _0\"></span>y liabilit<span class=\"_ _0\"></span>ies, an<span class=\"_ _0\"></span>d asso<span class=\"_ _0\"></span>ciated reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, is a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d to reflect t<span class=\"_ _0\"></span>he impact of p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty valu<span class=\"_ _0\"></span>es on the cha<span class=\"_ _0\"></span>nge in spre<span class=\"_ _0\"></span>ads arisin<span class=\"_ _0\"></span>g on equi<span class=\"_ _0\"></span>ty rele<span class=\"_ _0\"></span>ase mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ts held wit<span class=\"_ _0\"></span>hin the referenc<span class=\"_ _0\"></span>e port<span class=\"_ _0\"></span>folio.<span class=\"_ _3bd\"> </span><table class=\"s w629 h252\" id=\"_a98f840c-484b-4e17-b6ac-a5280447eae8\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5dff w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5dff w5dc h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa31 h29 y5e00 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5e00 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x936 h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xdfe h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit af<span class=\"_ _0\"></span>ter </td><td class=\"t m0 x2e5 h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5e01 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5e01 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5e01 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 xdff h29 y5e02 ff3 fs5 fc3 sc0 lsbe wsbe\">propert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x603 h29 y5e02 ff3 fs5 fc3 sc0 ls9e ws9a\">tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd06 h29 y5e02 ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5e02 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xd08 ha y5e02 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5e02 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5e02 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x493 h29 y5e03 ff3 fs5 fc3 sc0 ls22 ws24\">prices<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5e04 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe00 y5e04 w605 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe01 y5e04 w1e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe02 y5e04 w1e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>121<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe03 y5e04 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe04 y5e04 w62a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>141<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe05 y5e04 w62b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe06 y5e04 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e05 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe07 y5e05 w609 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe08 y5e05 w62c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>291)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe09 y5e05 w62c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(2<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0a y5e05 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0b y5e05 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>278)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0c y5e05 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(278<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0d y5e05 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e06 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e07 w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0e y5e07 w605 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0f y5e07 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">181<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe10 y5e07 w2cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe11 y5e07 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe12 y5e07 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe13 y5e07 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe14 y5e07 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e08 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e09 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe07 y5e09 w609 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe15 y5e09 w2cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">2<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe16 y5e09 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">291<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe17 y5e09 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe18 y5e09 w540 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe19 y5e09 w546 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">278<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1a y5e09 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe1b y5e0a w5a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1c y5e0a w5a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1d y5e0a wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1e y5e0a w3e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1f y5e0a w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe20 y5e0a wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e0b w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd8 y5e0b w616 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-10<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe21 y5e0b wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y5e0b wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe23 y5e0b w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe24 y5e0b w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">135<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe25 y5e0b w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe26 y5e0b w62e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d28 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5d28 w61d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe27 y5d28 w62f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe28 y5d28 w4cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe29 y5d28 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2a y5d28 w266 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2b y5d28 w2b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2c y5d28 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e0c ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e0d w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde5 y5e0d w622 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2d y5e0d w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2e y5e0d w630 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2f y5e0d we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe30 y5e0d w28b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe31 y5e0d w631 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5e y5e0d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e0e ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b43 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5b43 w61d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe32 y5b43 w632 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(296<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe33 y5b43 w633 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe34 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4be y5b43 w634 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe35 y5b43 w634 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9be y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe36 y5b4c w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe37 y5b4c w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe38 y5b4c w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe39 y5b4c w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3a y5b4c w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3b y5b4c w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y to chan<span class=\"_ _0\"></span>ges in eq<span class=\"_ _0\"></span>uity pric<span class=\"_ _0\"></span>es is prima<span class=\"_ _0\"></span>rily driven by the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s equi<span class=\"_ _0\"></span>ty he<span class=\"_ _0\"></span>dging arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nts over the val<span class=\"_ _0\"></span>ue of future man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt charg<span class=\"_ _0\"></span>es that are linked to a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>es. Curren<span class=\"_ _0\"></span>cy risk<span class=\"_ _3bd\"> </span>Curren<span class=\"_ _0\"></span>cy risk is the r<span class=\"_ _0\"></span>isk that cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e value of currenc<span class=\"_ _0\"></span>ies could l<span class=\"_ _0\"></span>ead to reduc<span class=\"_ _0\"></span>tions in as<span class=\"_ _0\"></span>set value<span class=\"_ _0\"></span>s which may res<span class=\"_ _0\"></span>ult in losse<span class=\"_ _0\"></span>s for policyh<span class=\"_ _0\"></span>olders and sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>ers. W<span class=\"_ _0\"></span>ith the exceptio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f St<span class=\"_ _0\"></span>andard Life Intern<span class=\"_ _0\"></span>ational b<span class=\"_ _0\"></span>usiness s<span class=\"_ _0\"></span>old in Germ<span class=\"_ _0\"></span>any and the Rep<span class=\"_ _0\"></span>ublic of Ireland a<span class=\"_ _0\"></span>nd some hi<span class=\"_ _0\"></span>storic busin<span class=\"_ _0\"></span>ess writ<span class=\"_ _0\"></span>ten in<span class=\"_ gs47\"> </span>the Re<span class=\"_ _0\"></span>public of Irelan<span class=\"_ _0\"></span>d, the Group\u2019s princ<span class=\"_ _0\"></span>ipal trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d out in sterlin<span class=\"_ _0\"></span>g. The as<span class=\"_ _0\"></span>sets for t<span class=\"_ _0\"></span>hese bo<span class=\"_ _0\"></span>oks of busines<span class=\"_ _0\"></span>s are gen<span class=\"_ _0\"></span>erally he<span class=\"_ _0\"></span>ld in the sam<span class=\"_ _0\"></span>e currency d<span class=\"_ _0\"></span>enominat<span class=\"_ _0\"></span>ion as their liab<span class=\"_ _0\"></span>ilities, t<span class=\"_ _0\"></span>herefore, any foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y mismatch is la<span class=\"_ _0\"></span>rgely mitig<span class=\"_ _0\"></span>ated. C<span class=\"_ _0\"></span>onsequ<span class=\"_ _0\"></span>ently<span class=\"_ _2\"></span>, the foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y risk relatin<span class=\"_ _0\"></span>g t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>is busines<span class=\"_ _0\"></span>s mainly ar<span class=\"_ _0\"></span>ises whe<span class=\"_ _0\"></span>n the ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities are tran<span class=\"_ _0\"></span>slated into ste<span class=\"_ _0\"></span>rling.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are prim<span class=\"_ _0\"></span>arily den<span class=\"_ _0\"></span>ominated in the s<span class=\"_ _0\"></span>ame curre<span class=\"_ _0\"></span>ncies as it<span class=\"_ _0\"></span>s insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment liabilitie<span class=\"_ _0\"></span>s. Thu<span class=\"_ _0\"></span>s, the ma<span class=\"_ _0\"></span>in foreign exchan<span class=\"_ _0\"></span>ge risk aris<span class=\"_ _0\"></span>es from rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>ts and liabili<span class=\"_ _0\"></span>ties denom<span class=\"_ _0\"></span>inated in curre<span class=\"_ _0\"></span>ncies othe<span class=\"_ _0\"></span>r than thos<span class=\"_ _0\"></span>e in which insur<span class=\"_ _0\"></span>ance and inves<span class=\"_ _0\"></span>tment liab<span class=\"_ _0\"></span>ilities are exp<span class=\"_ _0\"></span>ected to b<span class=\"_ _0\"></span>e sett<span class=\"_ _0\"></span>led and<span class=\"_ _0\"></span>, indirectl<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, from the n<span class=\"_ _0\"></span>on-U<span class=\"_ _0\"></span>K earning<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f U<span class=\"_ _0\"></span>K compan<span class=\"_ _0\"></span>ies.<span class=\"_ _3bd\"> </span>Both th<span class=\"_ _0\"></span>e with-profits a<span class=\"_ _0\"></span>nd non-profit f<span class=\"_ _0\"></span>unds have som<span class=\"_ _0\"></span>e exposure to over<span class=\"_ _0\"></span>seas as<span class=\"_ _0\"></span>sets wh<span class=\"_ _0\"></span>ich is not driven by liabili<span class=\"_ _0\"></span>ty con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>ns. The p<span class=\"_ _0\"></span>urpose of this expo<span class=\"_ _0\"></span>sure is to reduc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rall risk whils<span class=\"_ _0\"></span>t maximis<span class=\"_ _0\"></span>ing returns by diver<span class=\"_ _0\"></span>sificatio<span class=\"_ _0\"></span>n. This exp<span class=\"_ _0\"></span>osure is limited a<span class=\"_ _0\"></span>nd manag<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh investme<span class=\"_ _0\"></span>nt mandates<span class=\"_ _3bd\"> </span>which are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the oversig<span class=\"_ _0\"></span>ht o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>tees of the Bo<span class=\"_ _0\"></span>ards of each in<span class=\"_ _0\"></span>surance s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, an<span class=\"_ _0\"></span>d in the cas<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e with-profit<span class=\"_ _0\"></span>s funds con<span class=\"_ _0\"></span>sistent with p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders\u2019 reas<span class=\"_ _0\"></span>onable exp<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>ations and PPFM<span class=\"_ _0\"></span>. Fluct<span class=\"_ _0\"></span>uations in exch<span class=\"_ _0\"></span>ange rate<span class=\"_ _0\"></span>s from cer<span class=\"_ _0\"></span>tain hol<span class=\"_ _0\"></span>dings in overs<span class=\"_ _0\"></span>eas as<span class=\"_ _0\"></span>sets are hed<span class=\"_ _0\"></span>ged ag<span class=\"_ _0\"></span>ainst c<span class=\"_ _0\"></span>urrency ris<span class=\"_ _0\"></span>ks. At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group had in p<span class=\"_ _0\"></span>lace four cro<span class=\"_ _0\"></span>ss curren<span class=\"_ _0\"></span>cy swaps w<span class=\"_ _0\"></span>hich were desig<span class=\"_ _0\"></span>nated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts in order to ef<span class=\"_ _0\"></span>fect c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s Euro an<span class=\"_ _0\"></span>d US Dollar de<span class=\"_ _0\"></span>nominate<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s. On 12 J<span class=\"_ _0\"></span>une 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Co<span class=\"_ _0\"></span>mpany issu<span class=\"_ _0\"></span>ed US $<span class=\"_ _0\"></span>500 million C<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes and t<span class=\"_ _0\"></span>he cross c<span class=\"_ _0\"></span>urrency s<span class=\"_ _0\"></span>wap that was e<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>red into at this time wa<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>ted as a hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument. O<span class=\"_ _0\"></span>n 18 Jun<span class=\"_ _0\"></span>e 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, $5<span class=\"_ _0\"></span>00 million of the $<span class=\"_ _0\"></span>750 million Co<span class=\"_ _0\"></span>ntingently C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible T1 notes we<span class=\"_ _0\"></span>re repurchas<span class=\"_ _0\"></span>ed via a ten<span class=\"_ _0\"></span>der offer, leading to a<span class=\"_ _0\"></span>n unwinding of $5<span class=\"_ _0\"></span>00 million of<span class=\"_ gs47\"> </span>the relate<span class=\"_ _0\"></span>d swap arr<span class=\"_ _0\"></span>angeme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>E6.<span class=\"_ _0\"></span>2.3 Financial soundness r<span class=\"_ _2\"></span>isk<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial soun<span class=\"_ _0\"></span>dness r<span class=\"_ _0\"></span>isk is a broad ris<span class=\"_ _0\"></span>k categ<span class=\"_ _0\"></span>ory en<span class=\"_ _0\"></span>compas<span class=\"_ _0\"></span>sing ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt risk, t<span class=\"_ _0\"></span>ax risk and li<span class=\"_ _0\"></span>quidity a<span class=\"_ _0\"></span>nd funding ri<span class=\"_ _0\"></span>sk.<span class=\"_ _3bd\"> </span>Capit<span class=\"_ _0\"></span>al mana<span class=\"_ _0\"></span>gement ri<span class=\"_ _0\"></span>sk is defined a<span class=\"_ _0\"></span>s the risk of redu<span class=\"_ _0\"></span>ctions in e<span class=\"_ _0\"></span>arnings an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or valu<span class=\"_ _0\"></span>e, throug<span class=\"_ _0\"></span>h financial or re<span class=\"_ _0\"></span>putatio<span class=\"_ _0\"></span>nal loss<span class=\"_ _0\"></span>, due to a failure to maint<span class=\"_ _0\"></span>ain suffic<span class=\"_ _0\"></span>ient capit<span class=\"_ _0\"></span>al to provide approp<span class=\"_ _0\"></span>riate sec<span class=\"_ _0\"></span>urity for p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and m<span class=\"_ _0\"></span>eet all reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y capital re<span class=\"_ _0\"></span>quireme<span class=\"_ _0\"></span>nts whilst n<span class=\"_ _0\"></span>ot retaining unne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary c<span class=\"_ _0\"></span>apital. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s exposure to c<span class=\"_ _0\"></span>apital ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent risk throu<span class=\"_ _0\"></span>gh the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s mandate<span class=\"_ _0\"></span>d by the PR<span class=\"_ _0\"></span>A. The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s app<span class=\"_ _0\"></span>roach to man<span class=\"_ _0\"></span>aging ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt risk is des<span class=\"_ _0\"></span>cribed in de<span class=\"_ _0\"></span>tail in note I3<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Ta<span class=\"_ _0\"></span>x<span class=\"_ _0\"></span> r<span class=\"_ _0\"></span>i<span class=\"_ _0\"></span>s<span class=\"_ _1\"></span>k<span class=\"_ _3bd\"> </span>T<span class=\"_ _2\"></span>ax risk is d<span class=\"_ _0\"></span>efined as th<span class=\"_ _0\"></span>e risk of reduc<span class=\"_ _0\"></span>tions in earn<span class=\"_ _0\"></span>ings and/<span class=\"_ _2\"></span>or va<span class=\"_ _0\"></span>lue, throug<span class=\"_ _0\"></span>h financia<span class=\"_ _0\"></span>l or reputati<span class=\"_ _0\"></span>onal los<span class=\"_ _0\"></span>s, due to an unfores<span class=\"_ _0\"></span>een ta<span class=\"_ _0\"></span>x cost<span class=\"_ _0\"></span>, or by the inapp<span class=\"_ _0\"></span>ropriate repo<span class=\"_ _0\"></span>rting an<span class=\"_ _0\"></span>d disclos<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f inform<span class=\"_ _0\"></span>ation in relatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o t<span class=\"_ _0\"></span>axation<span class=\"_ _0\"></span>. T<span class=\"_ _4\"></span>ax ris<span class=\"_ _0\"></span>k can be c<span class=\"_ _0\"></span>ause<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup, or one of its s<span class=\"_ _0\"></span>ubsidiarie<span class=\"_ _0\"></span>s, makin<span class=\"_ _0\"></span>g a material e<span class=\"_ _0\"></span>rror in its ta<span class=\"_ _0\"></span>x repor<span class=\"_ _0\"></span>ting; \u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>orrect c<span class=\"_ _0\"></span>alculatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f t<span class=\"_ _0\"></span>ax provision<span class=\"_ _0\"></span>s; \u2022 <span class=\"_ _19\"> </span>failure to im<span class=\"_ _0\"></span>plement th<span class=\"_ _0\"></span>e optimum finan<span class=\"_ _0\"></span>cial arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s to underpin a c<span class=\"_ _0\"></span>ommercia<span class=\"_ _0\"></span>l transa<span class=\"_ _0\"></span>ction; and \u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>orrect o<span class=\"_ _0\"></span>peration of p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>er tax re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>T<span class=\"_ _2\"></span>ax risk is m<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ed by maintainin<span class=\"_ _0\"></span>g an appropri<span class=\"_ _0\"></span>ately-s<span class=\"_ _0\"></span>taffe<span class=\"_ _0\"></span>d tax team wh<span class=\"_ _0\"></span>o have the qualific<span class=\"_ _0\"></span>ations an<span class=\"_ _0\"></span>d experien<span class=\"_ _0\"></span>ce to make judg<span class=\"_ _0\"></span>ements o<span class=\"_ _0\"></span>n tax iss<span class=\"_ _0\"></span>ues, augm<span class=\"_ _0\"></span>ented by advi<span class=\"_ _0\"></span>ce from ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal spe<span class=\"_ _0\"></span>cialist<span class=\"_ _0\"></span>s where re<span class=\"_ _0\"></span>quired. In a<span class=\"_ _0\"></span>ddition, th<span class=\"_ _0\"></span>e Group has a form<span class=\"_ _0\"></span>al tax ris<span class=\"_ _0\"></span>k policy, which set<span class=\"_ _0\"></span>s out its ri<span class=\"_ _0\"></span>sk appetite in relatio<span class=\"_ _0\"></span>n to specific a<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>ts of tax ris<span class=\"_ _0\"></span>k, and wh<span class=\"_ _0\"></span>ich details th<span class=\"_ _0\"></span>e controls the G<span class=\"_ _0\"></span>roup has in pla<span class=\"_ _0\"></span>ce to mana<span class=\"_ _0\"></span>ge those r<span class=\"_ _0\"></span>isks.<span class=\"_ _3bd\"> </span>Liquidity risk<span class=\"_ _3bd\"> </span>Liquidit<span class=\"_ _0\"></span>y risk is defi<span class=\"_ _0\"></span>ned as failure to m<span class=\"_ _0\"></span>aintain ade<span class=\"_ _0\"></span>quate levels of fina<span class=\"_ _0\"></span>ncial res<span class=\"_ _0\"></span>ources to me<span class=\"_ _0\"></span>et obligati<span class=\"_ _0\"></span>ons as they fa<span class=\"_ _0\"></span>ll due. Funding risk re<span class=\"_ _0\"></span>lates to the potentia<span class=\"_ _0\"></span>l inabilit<span class=\"_ _0\"></span>y to raise ad<span class=\"_ _0\"></span>ditional c<span class=\"_ _0\"></span>apital or liqui<span class=\"_ _0\"></span>dity wh<span class=\"_ _0\"></span>en required in o<span class=\"_ _0\"></span>rder to maintain t<span class=\"_ _0\"></span>he resilienc<span class=\"_ _0\"></span>e of the balan<span class=\"_ _0\"></span>ce shee<span class=\"_ _0\"></span>t. The Gro<span class=\"_ _0\"></span>up has expo<span class=\"_ _0\"></span>sure to liquidit<span class=\"_ _0\"></span>y risk as a res<span class=\"_ _0\"></span>ult of serv<span class=\"_ _0\"></span>icing its ex<span class=\"_ _0\"></span>ternal d<span class=\"_ _0\"></span>ebt and equi<span class=\"_ _0\"></span>ty inves<span class=\"_ _0\"></span>tors, an<span class=\"_ _0\"></span>d from the ope<span class=\"_ _0\"></span>rating req<span class=\"_ _0\"></span>uirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f it<span class=\"_ _0\"></span>s subsidiar<span class=\"_ _0\"></span>ies. The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s subs<span class=\"_ _0\"></span>idiaries have exp<span class=\"_ _0\"></span>osure to liquidit<span class=\"_ _0\"></span>y risk as a re<span class=\"_ _0\"></span>sult of normal b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s activit<span class=\"_ _0\"></span>ies, sp<span class=\"_ _0\"></span>ecific<span class=\"_ _0\"></span>ally the risk ar<span class=\"_ _0\"></span>ising from an inab<span class=\"_ _0\"></span>ility to me<span class=\"_ _0\"></span>et shor<span class=\"_ _0\"></span>t-term cas<span class=\"_ _0\"></span>h flow requirem<span class=\"_ _0\"></span>ents and<span class=\"_ gs47\"> </span>to m<span class=\"_ _0\"></span>eet oblig<span class=\"_ _0\"></span>ations to polic<span class=\"_ _0\"></span>y liabilities<span class=\"_ _0\"></span>. The Bo<span class=\"_ _0\"></span>ard of Phoenix G<span class=\"_ _0\"></span>roup Holdin<span class=\"_ _0\"></span>gs plc has d<span class=\"_ _0\"></span>efined a numb<span class=\"_ _0\"></span>er of govern<span class=\"_ _0\"></span>ance obj<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>s and princip<span class=\"_ _0\"></span>les and<span class=\"_ gs47\"> </span>the li<span class=\"_ _0\"></span>quidity r<span class=\"_ _0\"></span>isk framewo<span class=\"_ _0\"></span>rks o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>ach subsi<span class=\"_ _0\"></span>diary are d<span class=\"_ _0\"></span>esigne<span class=\"_ _0\"></span>d to ensure that<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>liquid<span class=\"_ _0\"></span>ity risk i<span class=\"_ _0\"></span>s manag<span class=\"_ _0\"></span>ed in a manne<span class=\"_ _0\"></span>r consis<span class=\"_ _0\"></span>tent with the sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y company Bo<span class=\"_ _0\"></span>ards\u2019 strate<span class=\"_ _0\"></span>gic obje<span class=\"_ _0\"></span>ctives<span class=\"_ _0\"></span>, risk app<span class=\"_ _0\"></span>etite and PPFM<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>c<span class=\"_ _0\"></span>ash flows are app<span class=\"_ _0\"></span>ropriately m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d and the rep<span class=\"_ _0\"></span>utation of the G<span class=\"_ _0\"></span>roup is safeg<span class=\"_ _0\"></span>uarded; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>app<span class=\"_ _0\"></span>ropriate information o<span class=\"_ _0\"></span>n liquidit<span class=\"_ _0\"></span>y risk is available to th<span class=\"_ _0\"></span>ose makin<span class=\"_ _0\"></span>g decisio<span class=\"_ _0\"></span>ns.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s liquidi<span class=\"_ _0\"></span>ty risk m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment str<span class=\"_ _0\"></span>ategy is ba<span class=\"_ _0\"></span>sed on a ris<span class=\"_ _0\"></span>k appetite of les<span class=\"_ _0\"></span>s than a 1 in 20<span class=\"_ _0\"></span>0 chanc<span class=\"_ _0\"></span>e of having insuf<span class=\"_ _0\"></span>ficient liqu<span class=\"_ _0\"></span>id or tangib<span class=\"_ _0\"></span>le as<span class=\"_ _0\"></span>sets to<span class=\"_ gs47\"> </span>me<span class=\"_ _0\"></span>et financia<span class=\"_ _0\"></span>l obligation<span class=\"_ _0\"></span>s as they fall du<span class=\"_ _0\"></span>e and is supp<span class=\"_ _0\"></span>orted by<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>hol<span class=\"_ _0\"></span>ding appropr<span class=\"_ _0\"></span>iate asset<span class=\"_ _0\"></span>s to meet liq<span class=\"_ _0\"></span>uidity b<span class=\"_ _0\"></span>uffers<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>hol<span class=\"_ _0\"></span>ding high quali<span class=\"_ _0\"></span>ty liquid a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s to suppor<span class=\"_ _0\"></span>t day to day oper<span class=\"_ _0\"></span>ations;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>an ef<span class=\"_ _0\"></span>fective s<span class=\"_ _0\"></span>tress tes<span class=\"_ _0\"></span>ting fram<span class=\"_ _0\"></span>ework to ensure s<span class=\"_ _0\"></span>urvival h<span class=\"_ _0\"></span>orizons are met und<span class=\"_ _0\"></span>er different s<span class=\"_ _0\"></span>evere, but pl<span class=\"_ _0\"></span>ausible sc<span class=\"_ _0\"></span>enarios<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ef<span class=\"_ _0\"></span>fective liqui<span class=\"_ _0\"></span>dity p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio manag<span class=\"_ _0\"></span>ement in<span class=\"_ _0\"></span>cluding Ear<span class=\"_ _0\"></span>ly W<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>rning Indic<span class=\"_ _0\"></span>ators; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>liquid<span class=\"_ _0\"></span>ity risk c<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>ncy plann<span class=\"_ _0\"></span>ing.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s fun<span class=\"_ _0\"></span>ding strate<span class=\"_ _0\"></span>gy aims to ma<span class=\"_ _0\"></span>intain the appro<span class=\"_ _0\"></span>priate level of debt an<span class=\"_ _0\"></span>d equit<span class=\"_ _0\"></span>y in order to supp<span class=\"_ _0\"></span>ort th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>rganic and in<span class=\"_ _0\"></span>organic grow<span class=\"_ _0\"></span>th ambition<span class=\"_ _0\"></span>s, while m<span class=\"_ _0\"></span>aintaining suf<span class=\"_ _0\"></span>ficient h<span class=\"_ _0\"></span>eadroom for hyb<span class=\"_ _0\"></span>rid capit<span class=\"_ _0\"></span>al under reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y rules<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Liquidit<span class=\"_ _0\"></span>y forec<span class=\"_ _0\"></span>asts s<span class=\"_ _0\"></span>howing he<span class=\"_ _0\"></span>adroom ag<span class=\"_ _0\"></span>ainst liqui<span class=\"_ _0\"></span>dity buf<span class=\"_ _0\"></span>fers are p<span class=\"_ _0\"></span>repared re<span class=\"_ _0\"></span>gularly to pre<span class=\"_ _0\"></span>dict req<span class=\"_ _0\"></span>uired liquidit<span class=\"_ _0\"></span>y levels over b<span class=\"_ _0\"></span>oth the shor<span class=\"_ _0\"></span>t and me<span class=\"_ _0\"></span>dium-term allowing m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment to respo<span class=\"_ _0\"></span>nd appropr<span class=\"_ _0\"></span>iately to chan<span class=\"_ _0\"></span>ges in circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es. In t<span class=\"_ _0\"></span>he event of a liquidit<span class=\"_ _0\"></span>y shor<span class=\"_ _0\"></span>tfall<span class=\"_ _0\"></span>, either c<span class=\"_ _0\"></span>urrent or proj<span class=\"_ _0\"></span>ected<span class=\"_ _0\"></span>, this would b<span class=\"_ _0\"></span>e manag<span class=\"_ _0\"></span>ed in line with the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s C<span class=\"_ _0\"></span>ontingen<span class=\"_ _0\"></span>cy Liquidit<span class=\"_ _0\"></span>y Plan whe<span class=\"_ _0\"></span>re the latest ava<span class=\"_ _0\"></span>ilable contin<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>y manag<span class=\"_ _0\"></span>ement ac<span class=\"_ _0\"></span>tions would b<span class=\"_ _0\"></span>e conside<span class=\"_ _0\"></span>red. In ex<span class=\"_ _0\"></span>treme circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces<span class=\"_ _0\"></span>, the Group co<span class=\"_ _0\"></span>uld be expo<span class=\"_ _0\"></span>sed to liquidit<span class=\"_ _0\"></span>y risk in it<span class=\"_ _0\"></span>s unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d funds<span class=\"_ _0\"></span>. This coul<span class=\"_ _0\"></span>d occur whe<span class=\"_ _0\"></span>re a high volume of surre<span class=\"_ _0\"></span>nders coin<span class=\"_ _0\"></span>cides with a tig<span class=\"_ _0\"></span>htening of liquidit<span class=\"_ _0\"></span>y in a unit-linked fund to th<span class=\"_ _0\"></span>e point where as<span class=\"_ _0\"></span>sets of th<span class=\"_ _0\"></span>at fund have to be s<span class=\"_ _0\"></span>old to meet th<span class=\"_ _0\"></span>ose withdr<span class=\"_ _0\"></span>awals. Wh<span class=\"_ _0\"></span>ere the fun<span class=\"_ _0\"></span>d affec<span class=\"_ _0\"></span>ted cons<span class=\"_ _0\"></span>ists of les<span class=\"_ _0\"></span>s liquid as<span class=\"_ _0\"></span>sets su<span class=\"_ _0\"></span>ch as prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, it c<span class=\"_ _0\"></span>an take several m<span class=\"_ _0\"></span>onths to comple<span class=\"_ _0\"></span>te a sale and this w<span class=\"_ _0\"></span>ould impe<span class=\"_ _0\"></span>de the prope<span class=\"_ _0\"></span>r ope<span class=\"_ _0\"></span>ration of the fun<span class=\"_ _0\"></span>d. In thes<span class=\"_ _0\"></span>e situations<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up conside<span class=\"_ _0\"></span>rs its ris<span class=\"_ _0\"></span>k to be low since th<span class=\"_ _0\"></span>ere are step<span class=\"_ _0\"></span>s that can b<span class=\"_ _0\"></span>e tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n first with<span class=\"_ _0\"></span>in the funds them<span class=\"_ _0\"></span>selves both to e<span class=\"_ _0\"></span>nsure the fair t<span class=\"_ _0\"></span>reatment of all inves<span class=\"_ _0\"></span>tors in thos<span class=\"_ _0\"></span>e funds and to p<span class=\"_ _0\"></span>rot<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ct the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s own risk e<span class=\"_ _0\"></span>xposure.<span class=\"_ _3bd\"> </span>The va<span class=\"_ _0\"></span>st maj<span class=\"_ _0\"></span>ority of th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s de<span class=\"_ _0\"></span>rivative contra<span class=\"_ _0\"></span>cts are tr<span class=\"_ _0\"></span>aded OT<span class=\"_ _2\"></span>C a<span class=\"_ _0\"></span>nd have a two<span class=\"_ _0\"></span>-day collate<span class=\"_ _0\"></span>ral set<span class=\"_ _0\"></span>tlement p<span class=\"_ _0\"></span>eriod. Th<span class=\"_ _0\"></span>e Group\u2019s derivative contr<span class=\"_ _0\"></span>acts are<span class=\"_ gs47\"> </span>m<span class=\"_ _0\"></span>onitored da<span class=\"_ _0\"></span>ily<span class=\"_ _2\"></span>, via an e<span class=\"_ _0\"></span>nd-of-day valu<span class=\"_ _0\"></span>ation proce<span class=\"_ _0\"></span>ss, to a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>s the nee<span class=\"_ _0\"></span>d for additio<span class=\"_ _0\"></span>nal funds to c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r margin or coll<span class=\"_ _0\"></span>ateral call<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Som<span class=\"_ _0\"></span>e of the Group\u2019s comme<span class=\"_ _0\"></span>rcial prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y investme<span class=\"_ _0\"></span>nts, c<span class=\"_ _0\"></span>ash and c<span class=\"_ _0\"></span>ash equiv<span class=\"_ _0\"></span>alents are he<span class=\"_ _0\"></span>ld through c<span class=\"_ _0\"></span>ollec<span class=\"_ _0\"></span>tive inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s. The<span class=\"_ gs47\"> </span>c<span class=\"_ _0\"></span>ollective investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes have the p<span class=\"_ _0\"></span>ower to restric<span class=\"_ _0\"></span>t and/<span class=\"_ _2\"></span>or sus<span class=\"_ _0\"></span>pend with<span class=\"_ _0\"></span>drawals<span class=\"_ _0\"></span>, which would<span class=\"_ _0\"></span>, in turn, af<span class=\"_ _0\"></span>fect liqui<span class=\"_ _0\"></span>dity.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing table provi<span class=\"_ _0\"></span>des a maturit<span class=\"_ _0\"></span>y ana<span class=\"_ _0\"></span>lysis showin<span class=\"_ _0\"></span>g the remainin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>tual mat<span class=\"_ _0\"></span>urities of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s undis<span class=\"_ _0\"></span>counted fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies and<span class=\"_ gs47\"> </span>as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated interes<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span><table class=\"s w637 h253\" id=\"_f21b0d73-42f7-43cd-9d27-0fcee367c626\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x912 h29 y5e0f ff3 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s amo<span class=\"_ _0\"></span>unts </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xe3c h29 y5e10 ff3 fs5 fc3 sc0 ls1 ws1\">cl<span class=\"_ _0\"></span>assi<span class=\"_ _0\"></span>fied as </td><td></td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5e11 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r or les<span class=\"_ _0\"></span>s </td><td></td><td></td><td class=\"t m0 xe3d h29 y5e11 ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>eater t<span class=\"_ _0\"></span>han </td><td class=\"t m0 xe3e h29 y5e11 ff3 fs5 fc3 sc0 ls1 ws1\">No fi<span class=\"_ _0\"></span>xed<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 xe3c h29 y5e11 ff3 fs5 fc3 sc0 lsbe wsbe\">held for<span class=\"_ _2\"></span> sale<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x2fa h29 y5e12 ff3 fs5 fc3 sc0 ls8d ws86\">or on demand<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e3 h29 y5e12 ff3 fs5 fc3 sc0 ls1 ws1\">1-<span class=\"_ _0\"></span>5 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 h29 y5e12 ff3 fs5 fc3 sc0 lsa4 ws9f\">6<span class=\"_ _0\"></span>-10 yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bb h29 y5e12 ff3 fs5 fc3 sc0 ls1 ws1\">10 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5e12 ff3 fs5 fc3 sc0 ls4e ws48\">term<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa5f h29 y5e12 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x492 h29 y5e12 ff3 fs5 fc3 sc0 ls1 ws1\">(se<span class=\"_ _0\"></span>e note H<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 h29 y5e12 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5e13 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5e13 ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 x9e8 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5e13 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5e14 w13f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Inves<span class=\"_ _0\"></span>tment cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3f y5e14 w638 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe40 y5e14 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe41 y5e14 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe42 y5e14 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe43 y5e14 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe44 y5e14 w434 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe45 y5e14 w43a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe46 y5e14 w140 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">17<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,747<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e15 w639 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings</div><div class=\"t m0 xe47 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe48 y5e17 w25a h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls147 ws152\">483<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe49 y5e17 w172 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls143 ws14f\">2<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4a y5e17 w63a h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls69 ws18a\">1<span class=\"_ _0\"></span>,303<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4b y5e17 w5b h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4c y5e17 w267 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4d y5e17 w144 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,58<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4e y5e17 we9 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4f y5e17 w3e2 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,58<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e18 w63b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives</div><div class=\"t m0 xe50 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe51 y5e19 w307 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1ea ws208\">6<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe52 y5e19 w18a h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c7 ws1df\">245<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe53 y5e19 w259 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe54 y5e19 wda h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>372<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe55 y5e19 w5b h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe56 y5e19 w63c h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls147 ws152\">10,0<span class=\"_ _0\"></span>03<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe57 y5e19 we9 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe58 y5e19 w63d h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls147 ws152\">10,0<span class=\"_ _0\"></span>03<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e1a w430 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe59 y5e1a w63e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5a y5e1a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5b y5e1a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5c y5e1a wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5d y5e1a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5e y5e1a w63f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5f y5e1a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe60 y5e1a w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,486<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w640 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls144 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe61 y5b29 w516 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe62 y5b29 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe63 y5b29 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe64 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe65 y5b29 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe66 y5b29 w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe67 y5b29 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe68 y5b29 w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">8<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b06 w641 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Leas<span class=\"_ _0\"></span>e liabilities</div><div class=\"t m0 xe69 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6a y5e1b w184 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6b y5e1b w513 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls69 ws18a\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6c y5e1b w642 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6d y5e1b w345 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6e y5e1b w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6f y5e1b w58 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">77<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe70 y5e1b we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe71 y5e1b w9b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">77<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b2a w156 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Accr<span class=\"_ _0\"></span>uals and defe<span class=\"_ _0\"></span>rred incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe72 y5b2a w643 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">545<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe73 y5b2a w644 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe74 y5b2a w184 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe75 y5b2a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe76 y5b2a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe77 y5b2a w645 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">58<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe78 y5b2a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe79 y5b2a w646 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">58<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 w159 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other paya<span class=\"_ _2\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7a y5a16 w15a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7b y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5b y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5c y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5d y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7c y5a16 w647 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">2,<span class=\"_ _0\"></span>28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7d y5a16 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7e y5a16 w15a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w541 h254\" id=\"_464c9fb1-6612-4396-8520-ff3c1bcc4467\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x79a ha y5e1c ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s amo<span class=\"_ _0\"></span>unts </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x577 ha y5e1d ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 xe7f ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r or les<span class=\"_ _0\"></span>s or </td><td></td><td></td><td class=\"t m0 xe80 ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">Gre<span class=\"_ _0\"></span>ater th<span class=\"_ _0\"></span>an </td><td class=\"t m0 xafb ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">No fi<span class=\"_ _0\"></span>xed<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5cc ha y5e1e ff2 fs5 fc3 sc0 ls1 ws1\">he<span class=\"_ _0\"></span>ld for sa<span class=\"_ _0\"></span>le </td><td></td></tr><tr><td></td><td class=\"t m0 xe81 ha y5e1f ff2 fs5 fc3 sc0 ls11 ws11\">on demand<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe82 ha y5e1f ff2 fs5 fc3 sc0 ls11a ws11c\">1-5 y<span class=\"_ _2\"></span>ears<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe83 ha y5e1f ff2 fs5 fc3 sc0 ls167 ws1d6\">6<span class=\"_ _0\"></span>-10 ye<span class=\"_ _0\"></span>ar<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe84 ha y5e1f ff2 fs5 fc3 sc0 ls1 ws1\">10 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa78 ha y5e1f ff2 fs5 fc3 sc0 ls1be ws1d2\">term<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f ha y5e1f ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7a7 ha y5e1f ff2 fs5 fc3 sc0 ls1 ws1\">(se<span class=\"_ _0\"></span>e note H3<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5e1f ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5e20 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe85 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe86 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe87 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59f ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5e20 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5e14 w648 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts (res<span class=\"_ _0\"></span>tated)</div><div class=\"t m0 xe88 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe89 y5e14 w403 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">162,<span class=\"_ _0\"></span>495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8a y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8b y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8c y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8d y5e14 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8e y5e14 w455 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">162<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe8f y5e14 w649 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe90 y5e14 w111 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">157<span class=\"_ _4\"></span>,7<span class=\"_ _2\"></span>15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e15 w639 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Borrow<span class=\"_ _0\"></span>ings</div><div class=\"t m0 xe47 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe91 y5e15 w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">298<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe92 y5e15 w64a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,0<span class=\"_ _0\"></span>65<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe93 y5e15 w64b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,56<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe94 y5e15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe95 y5e15 w1b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe96 y5e15 w64c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4,<span class=\"_ _0\"></span>971<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe97 y5e15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe98 y5e15 w64d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>971<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ae4 w63b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives</div><div class=\"t m0 xe50 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe91 y5ae4 w501 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">366<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe99 y5ae4 w35d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lscd ws1d4\">403<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9a y5ae4 w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">634<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9b y5ae4 w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">5,<span class=\"_ _0\"></span>084<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9c y5ae4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9d y5ae4 w545 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">6<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9e y5ae4 w299 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe9f y5ae4 w64e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">6,485<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 w430 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>table to unith<span class=\"_ _0\"></span>olders<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea0 y5ae5 w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea1 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea2 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea3 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea4 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea5 y5ae5 w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea6 y5ae5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea7 y5ae5 w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>921<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w640 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls144 ws1\">Oblig<span class=\"_ _0\"></span>ations for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral recei<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea8 y5b29 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea1 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea2 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea3 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea4 y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xea9 y5b29 w45e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeaa y5b29 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeab y5b29 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,005<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ae6 w64f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Leas<span class=\"_ _0\"></span>e liabilities</div><div class=\"t m0 xc88 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeac y5ae6 w1a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xead y5ae6 w321 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeae y5ae6 wc7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeaf y5ae6 w2db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb0 y5ae6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb1 y5ae6 w52c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb2 y5ae6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb3 y5ae6 w6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">107<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w156 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Accr<span class=\"_ _0\"></span>uals and defe<span class=\"_ _0\"></span>rred incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb4 y5a15 w55d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb5 y5a15 w602 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb6 y5a15 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb7 y5a15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb8 y5a15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb9 y5a15 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">579<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeba y5a15 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebb y5a15 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">579<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w159 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other paya<span class=\"_ _2\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebc y5a16 w650 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebd y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebe y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xebf y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcf y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec0 y5a16 w651 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2,<span class=\"_ _0\"></span>272<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec1 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec2 y5a16 w652 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,27<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The<span class=\"_ _0\"></span>se fina<span class=\"_ _0\"></span>ncial l<span class=\"_ _0\"></span>iabili<span class=\"_ _0\"></span>ties ar<span class=\"_ _0\"></span>e disc<span class=\"_ _0\"></span>lose<span class=\"_ _0\"></span>d at thei<span class=\"_ _0\"></span>r undis<span class=\"_ _0\"></span>count<span class=\"_ _0\"></span>ed valu<span class=\"_ _0\"></span>e and th<span class=\"_ _0\"></span>erefor<span class=\"_ _0\"></span>e diffe<span class=\"_ _0\"></span>r from am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>uded in t<span class=\"_ _0\"></span>he st<span class=\"_ _0\"></span>ateme<span class=\"_ _0\"></span>nt of con<span class=\"_ _0\"></span>solid<span class=\"_ _0\"></span>ated fin<span class=\"_ _0\"></span>anci<span class=\"_ _0\"></span>al pos<span class=\"_ _0\"></span>ition w<span class=\"_ _0\"></span>hich dis<span class=\"_ _0\"></span>clos<span class=\"_ _0\"></span>es the<span class=\"_ gs1f7\"> </span>d<span class=\"_ _0\"></span>isco<span class=\"_ _0\"></span>unted v<span class=\"_ _0\"></span>alue.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee note A<span class=\"_ _0\"></span>3 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs have the option to ter<span class=\"_ _0\"></span>minate or tran<span class=\"_ _0\"></span>sfer their c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s at any time and to re<span class=\"_ _0\"></span>ceive the surre<span class=\"_ _0\"></span>nder or tr<span class=\"_ _0\"></span>ansfer valu<span class=\"_ _0\"></span>e of their<span class=\"_ gs47\"> </span>p<span class=\"_ _0\"></span>olicies. A<span class=\"_ _0\"></span>lthough th<span class=\"_ _0\"></span>ese liabilit<span class=\"_ _0\"></span>ies are payable o<span class=\"_ _0\"></span>n demand<span class=\"_ _0\"></span>, and are therefo<span class=\"_ _0\"></span>re include<span class=\"_ _0\"></span>d in the contra<span class=\"_ _0\"></span>ctual m<span class=\"_ _0\"></span>aturit<span class=\"_ _0\"></span>y analysis a<span class=\"_ _0\"></span>s due within one year, the<span class=\"_ gs47\"> </span>Group do<span class=\"_ _0\"></span>es not expe<span class=\"_ _0\"></span>ct all the<span class=\"_ _0\"></span>se amount<span class=\"_ _0\"></span>s to be paid ou<span class=\"_ _0\"></span>t within one year of th<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ting date.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing table<span class=\"_ _0\"></span>s present th<span class=\"_ _0\"></span>e estimate<span class=\"_ _0\"></span>d amount an<span class=\"_ _0\"></span>d timing of the rema<span class=\"_ _0\"></span>ining contra<span class=\"_ _0\"></span>ctual dis<span class=\"_ _0\"></span>counted c<span class=\"_ _0\"></span>ash flows ar<span class=\"_ _0\"></span>ising from insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es. <table class=\"s w257 h255\" id=\"_b7eaeaab-b9c4-4744-9009-7e78db40cf35\"><tr><td></td><td class=\"t m0 xec3 h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">Up to 1 y<span class=\"_ _0\"></span>ear<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a4 h29 y5e21 ff3 fs5 fc3 sc0 ls10b wsb1\">1<span class=\"_ _0\"></span>-2 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xec4 h29 y5e21 ff3 fs5 fc3 sc0 lsa4 ws9f\">2-3 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">3-<span class=\"_ _0\"></span>4 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">4-<span class=\"_ _0\"></span>5 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 h29 y5e21 ff3 fs5 fc3 sc0 ls1 ws1\">&gt;5 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5e21 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5e22 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe86 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe87 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59f h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5e22 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w137 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec5 y5b4c w293 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">8,0<span class=\"_ _0\"></span>54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec6 y5b4c w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">5,18<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec7 y5b4c w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">4,585<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec8 y5b4c w653 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec9 y5b4c w654 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">5,<span class=\"_ _0\"></span>282<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b1 y5b4c w655 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">81<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>334<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeca y5b4c w656 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">10<span class=\"_ _0\"></span>9,35<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w541 h220\" id=\"_02a810fb-55f8-4c4e-843e-1e8427a31e21\"><tr><td></td><td class=\"t m0 xecb ha y5e23 ff2 fs5 fc3 sc0 ls1 ws1\">Up to 1 ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a4 ha y5e23 ff2 fs5 fc3 sc0 ls1e7 ws204\">1<span class=\"_ _0\"></span>-2 ye<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xec4 ha y5e23 ff2 fs5 fc3 sc0 ls1 ws1\">2-3 yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59e ha y5e23 ff2 fs5 fc3 sc0 lsaa wsa5\">3-4 y<span class=\"_ _2\"></span>ears<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x679 ha y5e23 ff2 fs5 fc3 sc0 ls11a ws11c\">4-5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y5e23 ff2 fs5 fc3 sc0 ls1 ws1\">&gt;5 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5e23 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5e24 w657 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xecc h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 xe86 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe87 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59f ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5e25 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y5e26 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y5e27 w658 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">8,467<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xece y5e27 w659 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,<span class=\"_ _0\"></span>986<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xecf y5e27 w65a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">4,958<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed0 y5e27 w527 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">5,<span class=\"_ _0\"></span>292<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed1 y5e27 w1a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">5<span class=\"_ _0\"></span>,632<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed2 y5e27 w65b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">8<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xed3 y5e27 w139 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>72<span class=\"_ _3bd\"> </span></div></td></tr></table>1 Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s of the pri<span class=\"_ _0\"></span>or year r<span class=\"_ _0\"></span>est<span class=\"_ _0\"></span>ateme<span class=\"_ _0\"></span>nts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing table s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e amounts th<span class=\"_ _0\"></span>at are payable on d<span class=\"_ _0\"></span>emand an<span class=\"_ _0\"></span>d the carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e related p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folios of contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w65c h256\" id=\"_c8550f65-081c-422c-9481-580475f7639d\"><tr><td></td><td class=\"c n xed4 y5e28 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c xed6 y5e28 w65d h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">20<span class=\"_ _0\"></span>23 res<span class=\"_ _0\"></span>tated</div><div class=\"t m0 xed5 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 xed7 h29 y5e29 ff3 fs5 fc3 sc0 ls1 ws1\">Am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s payab<span class=\"_ _0\"></span>le </td><td class=\"t m0 x7a5 h29 y5e29 ff3 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>rryi<span class=\"_ _0\"></span>ng val<span class=\"_ _0\"></span>ue of </td><td class=\"t m0 xed8 ha y5e29 ff2 fs5 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts p<span class=\"_ _0\"></span>ayabl<span class=\"_ _0\"></span>e </td><td></td><td class=\"t m0 xed9 ha y5e29 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value of </td></tr><tr><td></td><td class=\"t m0 xac3 h29 y5e2a ff3 fs5 fc3 sc0 ls8d ws86\">on demand<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x799 h29 y5e2a ff3 fs5 fc3 sc0 ls8d ws86\">portfolio<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xeda ha y5e2a ff2 fs5 fc3 sc0 ls11 ws11\">on<span class=\"_ gs1f7\"> </span>demand<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x67a ha y5e2a ff2 fs5 fc3 sc0 ls11 ws11\">port<span class=\"_ _0\"></span>fol<span class=\"_ _2\"></span>io<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x542 h29 y5e2b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5e2b ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5e2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x1d3 ha y5e2b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a11 w65e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedb y5a11 w65f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">(4<span class=\"_ _4\"></span>2,695)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedc y5a11 w660 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(49<span class=\"_ _0\"></span>,233)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedd y5a11 w661 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(4<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,076<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xede y5a11 w662 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 w663 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Annuities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xedf y5a12 w8c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>6,5<span class=\"_ _0\"></span>64)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee0 y5a12 w664 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>36<span class=\"_ _0\"></span>,51<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee1 y5a12 w665 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(5<span class=\"_ _0\"></span>,16<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xee2 y5a12 w666 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3<span class=\"_ _0\"></span>4,29<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w667 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit-link<span class=\"_ _2\"></span>ed<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee3 y5a45 w668 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>7,7<span class=\"_ _0\"></span>7<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee4 y5a45 w669 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(17<span class=\"_ _4\"></span>,<span class=\"_ _0\"></span>016)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee5 y5a45 w66a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,79<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xee6 y5a45 w66b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(16<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w66c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6a ws89\">Pr<span class=\"_ _2\"></span>otect<span class=\"_ _2\"></span>ion<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee7 y5b24 w66d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(384)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee8 y5b24 wc2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>975<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee9 y5b24 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(61<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xeea y5b24 w7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>1,722)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w66e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sho<span class=\"_ _0\"></span>rt-term payabl<span class=\"_ _0\"></span>es and rec<span class=\"_ _0\"></span>eivables (in<span class=\"_ _0\"></span>cluding de<span class=\"_ _0\"></span>posits f<span class=\"_ _0\"></span>rom reinsurer<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeeb y5b25 w66f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(3<span class=\"_ _0\"></span>,24<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeec y5b25 w670 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeed y5b25 w671 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xeea y5b25 w672 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xeee y5a16 wf5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>70,6<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeef y5a16 w673 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>6,<span class=\"_ _0\"></span>985)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef0 y5a16 w674 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">(6<span class=\"_ _0\"></span>9,185)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef1 y5a16 w675 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>7,<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef2 y5a16 w676 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">6<span class=\"_ _0\"></span>0<span class=\"_ _1\"> </span>6<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for fu<span class=\"_ _0\"></span>rth<span class=\"_ _0\"></span>er deta<span class=\"_ _0\"></span>ils of th<span class=\"_ _0\"></span>e prior ye<span class=\"_ _0\"></span>ar res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s. A signifi<span class=\"_ _0\"></span>cant propo<span class=\"_ _0\"></span>rtion of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s fina<span class=\"_ _0\"></span>ncial as<span class=\"_ _0\"></span>sets are h<span class=\"_ _0\"></span>eld in gilts<span class=\"_ _0\"></span>, cas<span class=\"_ _0\"></span>h, supra<span class=\"_ _0\"></span>nationals a<span class=\"_ _0\"></span>nd investme<span class=\"_ _0\"></span>nt grade s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s which the Gro<span class=\"_ _0\"></span>up con<span class=\"_ _0\"></span>siders suf<span class=\"_ _0\"></span>ficient to m<span class=\"_ _0\"></span>eet the liabili<span class=\"_ _0\"></span>ties as they fa<span class=\"_ _0\"></span>ll due. The vas<span class=\"_ _0\"></span>t majo<span class=\"_ _0\"></span>rity of the<span class=\"_ _0\"></span>se investm<span class=\"_ _0\"></span>ents are rea<span class=\"_ _0\"></span>dily realisa<span class=\"_ _0\"></span>ble immed<span class=\"_ _0\"></span>iately since m<span class=\"_ _0\"></span>ost of<span class=\"_ gs47\"> </span>them are q<span class=\"_ _0\"></span>uoted in<span class=\"_ gs47\"> </span>an act<span class=\"_ _0\"></span>ive market. The Gro<span class=\"_ _0\"></span>up has a set of es<span class=\"_ _0\"></span>tablis<span class=\"_ _0\"></span>hed polic<span class=\"_ _0\"></span>ies and pro<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>es to manag<span class=\"_ _0\"></span>e its exp<span class=\"_ _0\"></span>osure to liquidit<span class=\"_ _0\"></span>y risk, in<span class=\"_ _0\"></span>cluding imp<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>rising from the e<span class=\"_ _0\"></span>conomi<span class=\"_ _0\"></span>c environm<span class=\"_ _0\"></span>ent, bus<span class=\"_ _0\"></span>iness deve<span class=\"_ _0\"></span>lopment<span class=\"_ _0\"></span>s and fundin<span class=\"_ _0\"></span>g chang<span class=\"_ _0\"></span>es. Whe<span class=\"_ _0\"></span>re liquidit<span class=\"_ _0\"></span>y risk is heig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ned, s<span class=\"_ _0\"></span>uch as during p<span class=\"_ _0\"></span>eriods of sign<span class=\"_ _0\"></span>ificant mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et volatilit<span class=\"_ _0\"></span>y, trigg<span class=\"_ _0\"></span>ers are in pl<span class=\"_ _0\"></span>ace to enha<span class=\"_ _0\"></span>nce the fre<span class=\"_ _0\"></span>quency of liq<span class=\"_ _0\"></span>uidity m<span class=\"_ _0\"></span>onitoring an<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o im<span class=\"_ _0\"></span>plement avail<span class=\"_ _0\"></span>able conting<span class=\"_ _0\"></span>ency a<span class=\"_ _0\"></span>ctions to en<span class=\"_ _0\"></span>sure suf<span class=\"_ _0\"></span>ficient liquidit<span class=\"_ _0\"></span>y is maint<span class=\"_ _0\"></span>ained.<span class=\"_ _3bd\"> </span>E6.<span class=\"_ _0\"></span>2.4 Strategi<span class=\"_ _2\"></span>c risk<span class=\"_ _3bd\"> </span>Strate<span class=\"_ _0\"></span>gic risks thre<span class=\"_ _0\"></span>aten the achie<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment of the Group s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y through p<span class=\"_ _0\"></span>oor str<span class=\"_ _0\"></span>ategic dec<span class=\"_ _0\"></span>ision-mak<span class=\"_ _0\"></span>ing, impl<span class=\"_ _0\"></span>ementati<span class=\"_ _0\"></span>on or respon<span class=\"_ _0\"></span>se to chang<span class=\"_ _0\"></span>ing circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es. Th<span class=\"_ _0\"></span>e Group rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s that core st<span class=\"_ _0\"></span>rategic ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y brings wi<span class=\"_ _0\"></span>th it exposure to s<span class=\"_ _0\"></span>trategic r<span class=\"_ _0\"></span>isk. Howeve<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>, t<span class=\"_ _0\"></span>he Group se<span class=\"_ _0\"></span>eks to proac<span class=\"_ _0\"></span>tively review, man<span class=\"_ _0\"></span>age and c<span class=\"_ _0\"></span>ontrol thes<span class=\"_ _0\"></span>e exposure<span class=\"_ _0\"></span>s. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s st<span class=\"_ _0\"></span>rategy an<span class=\"_ _0\"></span>d busines<span class=\"_ _0\"></span>s plan are exp<span class=\"_ _0\"></span>osed to ex<span class=\"_ _0\"></span>ternal eve<span class=\"_ _0\"></span>nts that co<span class=\"_ _0\"></span>uld prevent or impa<span class=\"_ _0\"></span>ct the ac<span class=\"_ _0\"></span>hievement of the s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y; events re<span class=\"_ _0\"></span>lating to how the s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y and busin<span class=\"_ _0\"></span>ess plan a<span class=\"_ _0\"></span>re executed; a<span class=\"_ _0\"></span>nd events that a<span class=\"_ _0\"></span>rise as a con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nce of following th<span class=\"_ _0\"></span>e specifi<span class=\"_ _0\"></span>c strateg<span class=\"_ _0\"></span>y chose<span class=\"_ _0\"></span>n. The identifi<span class=\"_ _0\"></span>cation and a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of s<span class=\"_ _0\"></span>trategic ris<span class=\"_ _0\"></span>ks is an integrate<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Risk Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>ram<span class=\"_ _0\"></span>ework. Str<span class=\"_ _0\"></span>ategic ris<span class=\"_ _0\"></span>k should be c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d in para<span class=\"_ _0\"></span>llel with the Ris<span class=\"_ _0\"></span>k Universe a<span class=\"_ _0\"></span>s each of the ri<span class=\"_ _0\"></span>sks within the Risk U<span class=\"_ _0\"></span>niverse c<span class=\"_ _0\"></span>an impac<span class=\"_ _0\"></span>t the Group\u2019s strate<span class=\"_ _0\"></span>gy<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>A Strate<span class=\"_ _0\"></span>gic Risk Policy is m<span class=\"_ _0\"></span>aintaine<span class=\"_ _0\"></span>d and repor<span class=\"_ _0\"></span>ted ag<span class=\"_ _0\"></span>ainst re<span class=\"_ _0\"></span>gularly, with a par<span class=\"_ _0\"></span>ticula<span class=\"_ _0\"></span>r f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>cus on risk m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment, s<span class=\"_ _0\"></span>takeholde<span class=\"_ _0\"></span>r manag<span class=\"_ _0\"></span>ement, corp<span class=\"_ _0\"></span>orate act<span class=\"_ _0\"></span>ivity an<span class=\"_ _0\"></span>d overall repor<span class=\"_ _0\"></span>ting a<span class=\"_ _0\"></span>gainst th<span class=\"_ _0\"></span>e Group\u2019s strateg<span class=\"_ _0\"></span>ic ambitions<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>E6.<span class=\"_ _0\"></span>2.5 Operational ri<span class=\"_ _2\"></span>sk<span class=\"_ _3bd\"> </span>Ope<span class=\"_ _0\"></span>rational ri<span class=\"_ _0\"></span>sk is the risk of re<span class=\"_ _0\"></span>ductions in e<span class=\"_ _0\"></span>arnings a<span class=\"_ _0\"></span>nd/<span class=\"_ _4\"></span>or va<span class=\"_ _0\"></span>lue, throu<span class=\"_ _0\"></span>gh financia<span class=\"_ _0\"></span>l or reputat<span class=\"_ _0\"></span>ional los<span class=\"_ _0\"></span>s, from ina<span class=\"_ _0\"></span>dequate or f<span class=\"_ _0\"></span>ailed interna<span class=\"_ _0\"></span>l proces<span class=\"_ _0\"></span>ses and<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ystems<span class=\"_ _0\"></span>, or from pe<span class=\"_ _0\"></span>ople-re<span class=\"_ _0\"></span>lated or ex<span class=\"_ _0\"></span>ternal event<span class=\"_ _0\"></span>s. Op<span class=\"_ _0\"></span>erational r<span class=\"_ _0\"></span>isk arises d<span class=\"_ _0\"></span>ue to failures in one o<span class=\"_ _0\"></span>r more of the following a<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>ts of our busin<span class=\"_ _0\"></span>ess:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>indire<span class=\"_ _0\"></span>ct expo<span class=\"_ _0\"></span>sures throu<span class=\"_ _0\"></span>gh outs<span class=\"_ _0\"></span>ourcing se<span class=\"_ _0\"></span>rvice p<span class=\"_ _0\"></span>roviders an<span class=\"_ _0\"></span>d suppliers<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>dire<span class=\"_ _0\"></span>ct expos<span class=\"_ _0\"></span>ures through inte<span class=\"_ _0\"></span>rnal prac<span class=\"_ _0\"></span>tices<span class=\"_ _0\"></span>, actio<span class=\"_ _0\"></span>ns or omis<span class=\"_ _0\"></span>sions;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ex<span class=\"_ _0\"></span>ternal thre<span class=\"_ _0\"></span>ats from indi<span class=\"_ _0\"></span>viduals or gro<span class=\"_ _0\"></span>ups focus<span class=\"_ _0\"></span>ed on malici<span class=\"_ _0\"></span>ous or crimina<span class=\"_ _0\"></span>l activiti<span class=\"_ _0\"></span>es, or on ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l events occ<span class=\"_ _0\"></span>urring which a<span class=\"_ _0\"></span>re not within the Group\u2019s control; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ne<span class=\"_ _0\"></span>gligen<span class=\"_ _0\"></span>ce, mal-p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e or failure of employe<span class=\"_ _0\"></span>es, or s<span class=\"_ _0\"></span>uppliers to follo<span class=\"_ _0\"></span>w good pr<span class=\"_ _0\"></span>actice in d<span class=\"_ _0\"></span>elivering op<span class=\"_ _0\"></span>erational p<span class=\"_ _0\"></span>roces<span class=\"_ _0\"></span>ses and p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>es. It is ac<span class=\"_ _0\"></span>cepted th<span class=\"_ _0\"></span>at it is neithe<span class=\"_ _0\"></span>r possib<span class=\"_ _0\"></span>le, approp<span class=\"_ _0\"></span>riate nor cos<span class=\"_ _0\"></span>t effec<span class=\"_ _0\"></span>tive to eliminate all op<span class=\"_ _0\"></span>eration<span class=\"_ _0\"></span>al risks from the b<span class=\"_ _0\"></span>usiness a<span class=\"_ _0\"></span>s operati<span class=\"_ _0\"></span>onal risk is inhere<span class=\"_ _0\"></span>nt in any operatin<span class=\"_ _0\"></span>g environment p<span class=\"_ _0\"></span>artic<span class=\"_ _0\"></span>ularly given th<span class=\"_ _0\"></span>e regulator<span class=\"_ _0\"></span>y fram<span class=\"_ _0\"></span>ework under w<span class=\"_ _0\"></span>hich the Group o<span class=\"_ _0\"></span>perates<span class=\"_ _0\"></span>. As such t<span class=\"_ _0\"></span>he Group will tole<span class=\"_ _0\"></span>rate a deg<span class=\"_ _0\"></span>ree of opera<span class=\"_ _0\"></span>tional risk s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to appropriate an<span class=\"_ _0\"></span>d propor<span class=\"_ _0\"></span>tionate level<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontrol around t<span class=\"_ _0\"></span>he identific<span class=\"_ _0\"></span>ation, ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent and rep<span class=\"_ _0\"></span>orting of such r<span class=\"_ _0\"></span>isks. A set of op<span class=\"_ _0\"></span>eration<span class=\"_ _0\"></span>al risk policie<span class=\"_ _0\"></span>s are maintain<span class=\"_ _0\"></span>ed that se<span class=\"_ _0\"></span>t out the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e operati<span class=\"_ _0\"></span>onal risk exp<span class=\"_ _0\"></span>osure and key control<span class=\"_ _0\"></span>s in<span class=\"_ gs47\"> </span>place to control the risk.<span class=\"_ _3bd\"> </span>E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.6 C<span class=\"_ _0\"></span>ustom<span class=\"_ _0\"></span>er risk<span class=\"_ _3bd\"> </span>Cus<span class=\"_ _0\"></span>tomer risk is t<span class=\"_ _0\"></span>he risk of financ<span class=\"_ _0\"></span>ial failure, rep<span class=\"_ _0\"></span>utationa<span class=\"_ _0\"></span>l loss<span class=\"_ _0\"></span>, loss of ear<span class=\"_ _0\"></span>nings and/<span class=\"_ _2\"></span>or v<span class=\"_ _0\"></span>alue throug<span class=\"_ _0\"></span>h inappropri<span class=\"_ _0\"></span>ate or poor cu<span class=\"_ _0\"></span>stomer tre<span class=\"_ _0\"></span>atment (inclu<span class=\"_ _0\"></span>ding poor a<span class=\"_ _0\"></span>dvice). It can ar<span class=\"_ _0\"></span>ise as a result of<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Cus<span class=\"_ _0\"></span>tomer O<span class=\"_ _0\"></span>utcomes<span class=\"_ _0\"></span>: The risk tha<span class=\"_ _0\"></span>t our decisi<span class=\"_ _0\"></span>ons, a<span class=\"_ _0\"></span>ctions or b<span class=\"_ _0\"></span>ehaviors in<span class=\"_ _0\"></span>dividually or c<span class=\"_ _0\"></span>ollect<span class=\"_ _0\"></span>ively result in a fa<span class=\"_ _0\"></span>ilure to act to delive<span class=\"_ _0\"></span>r good o<span class=\"_ _0\"></span>utcomes for our cu<span class=\"_ _0\"></span>stomer<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Cus<span class=\"_ _0\"></span>tomer T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sformation: T<span class=\"_ _0\"></span>he risk that th<span class=\"_ _0\"></span>e design<span class=\"_ _0\"></span>, governan<span class=\"_ _0\"></span>ce and overs<span class=\"_ _0\"></span>ight of Strategic C<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r T<span class=\"_ _4\"></span>rans<span class=\"_ _0\"></span>formation Ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y in retained f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>s and s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e providers<span class=\"_ _0\"></span>, fails to deli<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r on reason<span class=\"_ _0\"></span>able cus<span class=\"_ _0\"></span>tomer exp<span class=\"_ _0\"></span>ectat<span class=\"_ _0\"></span>ions, t<span class=\"_ _0\"></span>aking acc<span class=\"_ _0\"></span>ount of the Phoe<span class=\"_ _0\"></span>nix Group cu<span class=\"_ _0\"></span>stomer tre<span class=\"_ _0\"></span>atment risk appe<span class=\"_ _0\"></span>tites and reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y<span class=\"_ gs47\"> </span>requireme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has both a C<span class=\"_ _0\"></span>onduc<span class=\"_ _0\"></span>t Risk appeti<span class=\"_ _0\"></span>te t<span class=\"_ _2\"></span>o fo<span class=\"_ _0\"></span>cus on beh<span class=\"_ _0\"></span>aviours with<span class=\"_ _0\"></span>in the busine<span class=\"_ _0\"></span>ss, a<span class=\"_ _0\"></span>nd a Custom<span class=\"_ _0\"></span>er Risk app<span class=\"_ _0\"></span>etite to focus on a<span class=\"_ _0\"></span>chieving go<span class=\"_ _0\"></span>od cus<span class=\"_ _0\"></span>tomer outc<span class=\"_ _0\"></span>omes<span class=\"_ _0\"></span>. The beh<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ours and s<span class=\"_ _0\"></span>tandar<span class=\"_ _0\"></span>ds all collea<span class=\"_ _0\"></span>gues are exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to achieve are det<span class=\"_ _0\"></span>ailed in our Gro<span class=\"_ _0\"></span>up Code of C<span class=\"_ _0\"></span>onduct<span class=\"_ _0\"></span>. For<span class=\"_ gs47\"> </span>our cus<span class=\"_ _0\"></span>tomers<span class=\"_ _0\"></span>, what rep<span class=\"_ _0\"></span>resents a g<span class=\"_ _0\"></span>ood ou<span class=\"_ _0\"></span>tcome is ar<span class=\"_ _0\"></span>ticulate<span class=\"_ _0\"></span>d in our Custom<span class=\"_ _0\"></span>er Stan<span class=\"_ _0\"></span>dards and sup<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing Busine<span class=\"_ _0\"></span>ss Unit pro<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>es. In a<span class=\"_ _0\"></span>ddition, th<span class=\"_ _0\"></span>e Group C<span class=\"_ _0\"></span>onduc<span class=\"_ _0\"></span>t Strateg<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, which over<span class=\"_ _0\"></span>arches our R<span class=\"_ _0\"></span>isk Univers<span class=\"_ _0\"></span>e and all risk p<span class=\"_ _0\"></span>olicies is de<span class=\"_ _0\"></span>signed to h<span class=\"_ _0\"></span>elp the Group m<span class=\"_ _0\"></span>eet its aim of he<span class=\"_ _0\"></span>lping peo<span class=\"_ _0\"></span>ple se<span class=\"_ _0\"></span>cure a lifetime of pos<span class=\"_ _0\"></span>sibilities<span class=\"_ _0\"></span>. It see<span class=\"_ _0\"></span>ks t<span class=\"_ _2\"></span>o d<span class=\"_ _0\"></span>o this by put<span class=\"_ _0\"></span>ting custo<span class=\"_ _0\"></span>mers at th<span class=\"_ _0\"></span>e hear<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f o<span class=\"_ _0\"></span>ur strate<span class=\"_ _0\"></span>gy and de<span class=\"_ _0\"></span>cision makin<span class=\"_ _0\"></span>g, ach<span class=\"_ _0\"></span>ieving goo<span class=\"_ _0\"></span>d custom<span class=\"_ _0\"></span>er outco<span class=\"_ _0\"></span>mes and pre<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nting forese<span class=\"_ _0\"></span>eable ha<span class=\"_ _0\"></span>rm. The Gro<span class=\"_ _0\"></span>up also ha<span class=\"_ _0\"></span>s a suite of custom<span class=\"_ _0\"></span>er police<span class=\"_ _0\"></span>s which set o<span class=\"_ _0\"></span>ut the k<span class=\"_ _2\"></span>ey c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r risks and co<span class=\"_ _0\"></span>ntrol obje<span class=\"_ _0\"></span>ctives in pla<span class=\"_ _0\"></span>ce to mitigate th<span class=\"_ _0\"></span>em. The c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r risks for<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e Group are reg<span class=\"_ _0\"></span>ularly repo<span class=\"_ _0\"></span>rted to m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment oversig<span class=\"_ _0\"></span>ht commit<span class=\"_ _0\"></span>tees<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>I3. Capital manag<span class=\"_ _0\"></span>ement<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt is base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of Solve<span class=\"_ _0\"></span>ncy II<span class=\"_ _0\"></span>, as modifi<span class=\"_ _0\"></span>ed by the PR<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _2\"></span>s 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 reforms (<span class=\"_ _0\"></span>\u2018So<span class=\"_ _0\"></span>lvency U<span class=\"_ _0\"></span>K\u2019). This involve<span class=\"_ _0\"></span>s a<span class=\"_ gs47\"> </span>valuati<span class=\"_ _0\"></span>on of the Group\u2019s Own Funds an<span class=\"_ _0\"></span>d a risk<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ased a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s S<span class=\"_ _0\"></span>olvency Ca<span class=\"_ _0\"></span>pital Req<span class=\"_ _0\"></span>uirement (\u2018<span class=\"_ _0\"></span>SCR<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) in line with Sol<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ncy UK r<span class=\"_ _0\"></span>ules.<span class=\"_ _3bd\"> </span>This note s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>pproach to ma<span class=\"_ _0\"></span>naging c<span class=\"_ _0\"></span>apital an<span class=\"_ _0\"></span>d provides an an<span class=\"_ _0\"></span>alysis of Own Fun<span class=\"_ _0\"></span>ds and SC<span class=\"_ _0\"></span>R.<span class=\"_ _3bd\"> </span>Risk and capi<span class=\"_ _2\"></span>tal management objectives<span class=\"_ _3bd\"> </span>The ris<span class=\"_ _0\"></span>k manag<span class=\"_ _0\"></span>ement ob<span class=\"_ _0\"></span>jective<span class=\"_ _0\"></span>s and polici<span class=\"_ _0\"></span>es of the Group are b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e requireme<span class=\"_ _0\"></span>nt to protect th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capit<span class=\"_ _0\"></span>al positio<span class=\"_ _0\"></span>n, thereby<span class=\"_ _0\"></span> safeg<span class=\"_ _0\"></span>uarding p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>ers\u2019 guar<span class=\"_ _0\"></span>anteed be<span class=\"_ _0\"></span>nefits whil<span class=\"_ _0\"></span>st also e<span class=\"_ _0\"></span>nsuring the G<span class=\"_ _0\"></span>roup can me<span class=\"_ _0\"></span>et its vari<span class=\"_ _0\"></span>ous cash fl<span class=\"_ _0\"></span>ow requirem<span class=\"_ _0\"></span>ents. S<span class=\"_ _0\"></span>ubje<span class=\"_ _0\"></span>ct to this, t<span class=\"_ _0\"></span>he Group se<span class=\"_ _0\"></span>eks to use available c<span class=\"_ _0\"></span>apital to a<span class=\"_ _0\"></span>chieve increa<span class=\"_ _0\"></span>sed retur<span class=\"_ _0\"></span>ns, ba<span class=\"_ _0\"></span>lancing ris<span class=\"_ _0\"></span>k and reward, to g<span class=\"_ _0\"></span>enerate a<span class=\"_ _0\"></span>dditional va<span class=\"_ _0\"></span>lue for policy<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>In pur<span class=\"_ _0\"></span>suing thes<span class=\"_ _0\"></span>e obje<span class=\"_ _0\"></span>ctives<span class=\"_ _0\"></span>, the Group de<span class=\"_ _0\"></span>ploys financ<span class=\"_ _0\"></span>ial and other a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and incur<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t liabilities a<span class=\"_ _0\"></span>nd financi<span class=\"_ _0\"></span>al and other lia<span class=\"_ _0\"></span>bilities. Finan<span class=\"_ _0\"></span>cial and oth<span class=\"_ _0\"></span>er asse<span class=\"_ _0\"></span>ts princip<span class=\"_ _0\"></span>ally compri<span class=\"_ _0\"></span>se investme<span class=\"_ _0\"></span>nts in equit<span class=\"_ _0\"></span>y se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, debt se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes, p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty, deriva<span class=\"_ _0\"></span>tives, rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e, trade an<span class=\"_ _0\"></span>d other rec<span class=\"_ _0\"></span>eivables<span class=\"_ _0\"></span>, and ban<span class=\"_ _0\"></span>king depo<span class=\"_ _0\"></span>sits. F<span class=\"_ _0\"></span>inancial li<span class=\"_ _0\"></span>abilities prin<span class=\"_ _0\"></span>cipally com<span class=\"_ _0\"></span>prise invest<span class=\"_ _0\"></span>ment contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, borrow<span class=\"_ _0\"></span>ings for finan<span class=\"_ _0\"></span>cing purpo<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, derivative liabilit<span class=\"_ _0\"></span>ies and net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attrib<span class=\"_ _0\"></span>utable to unith<span class=\"_ _0\"></span>olders<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Risk M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement Framewo<span class=\"_ _0\"></span>rk is describ<span class=\"_ _0\"></span>ed in the ris<span class=\"_ _0\"></span>k manag<span class=\"_ _0\"></span>ement com<span class=\"_ _0\"></span>mentar<span class=\"_ _0\"></span>y on pag<span class=\"_ _0\"></span>es 46 to 5<span class=\"_ _0\"></span>7 o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Annual Rep<span class=\"_ _0\"></span>ort an<span class=\"_ _0\"></span>d Account<span class=\"_ _0\"></span>s and th<span class=\"_ _0\"></span>e Risk Univer<span class=\"_ _0\"></span>se compo<span class=\"_ _0\"></span>nent of this fram<span class=\"_ _0\"></span>ework summa<span class=\"_ _0\"></span>rises the c<span class=\"_ _0\"></span>omprehen<span class=\"_ _0\"></span>sive set of risks to whic<span class=\"_ _0\"></span>h the Group is exp<span class=\"_ _0\"></span>osed<span class=\"_ _0\"></span>. The maj<span class=\"_ _0\"></span>or risks (\u2018<span class=\"_ _0\"></span>Level 1\u2019 ri<span class=\"_ _0\"></span>sks) that the Group\u2019s busin<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s are expose<span class=\"_ _0\"></span>d to and the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s appro<span class=\"_ _0\"></span>ach to man<span class=\"_ _0\"></span>aging tho<span class=\"_ _0\"></span>se risks are outlin<span class=\"_ _0\"></span>ed in the followin<span class=\"_ _0\"></span>g notes:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>note E6<span class=\"_ _0\"></span>: Credit risk<span class=\"_ _0\"></span>, market risk, fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>oundnes<span class=\"_ _0\"></span>s risk, s<span class=\"_ _0\"></span>trategi<span class=\"_ _0\"></span>c risk, cu<span class=\"_ _0\"></span>stomer ris<span class=\"_ _0\"></span>k and oper<span class=\"_ _0\"></span>ational ris<span class=\"_ _0\"></span>k; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>note F11<span class=\"_ _0\"></span>: Insuran<span class=\"_ _0\"></span>ce risk<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ection o<span class=\"_ _0\"></span>n capital m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment obj<span class=\"_ _0\"></span>ectives i<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>d below. Capital Management<span class=\"_ _2\"></span> Framewor<span class=\"_ _2\"></span>k<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Cap<span class=\"_ _0\"></span>ital Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>mework is des<span class=\"_ _0\"></span>igned to ac<span class=\"_ _0\"></span>hieve the following ob<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>tives:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>to provide a<span class=\"_ _0\"></span>ppropriate se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>y for policy<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s and mee<span class=\"_ _0\"></span>t all regulator<span class=\"_ _0\"></span>y cap<span class=\"_ _0\"></span>ital require<span class=\"_ _0\"></span>ments un<span class=\"_ _0\"></span>der the So<span class=\"_ _0\"></span>lvency UK re<span class=\"_ _0\"></span>gime while n<span class=\"_ _0\"></span>ot retaining unne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary exc<span class=\"_ _0\"></span>ess ca<span class=\"_ _0\"></span>pital, op<span class=\"_ _0\"></span>erating wi<span class=\"_ _0\"></span>thin a Solvenc<span class=\"_ _0\"></span>y II Sh<span class=\"_ _0\"></span>areholde<span class=\"_ _0\"></span>r Capital C<span class=\"_ _0\"></span>overage r<span class=\"_ _0\"></span>atio of 140<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>80%;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>to ens<span class=\"_ _0\"></span>ure suffic<span class=\"_ _0\"></span>ient liquidit<span class=\"_ _0\"></span>y to meet o<span class=\"_ _0\"></span>bligations to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and ot<span class=\"_ _0\"></span>her creditor<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>to man<span class=\"_ _0\"></span>age the le<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage po<span class=\"_ _0\"></span>sition, in<span class=\"_ _0\"></span>cluding optimi<span class=\"_ _0\"></span>sation of the S<span class=\"_ _0\"></span>olvency I<span class=\"_ _0\"></span>I leverag<span class=\"_ _0\"></span>e ratio and the F<span class=\"_ _0\"></span>itch leverag<span class=\"_ _0\"></span>e ratio to maint<span class=\"_ _0\"></span>ain an investme<span class=\"_ _0\"></span>nt gra<span class=\"_ _0\"></span>de credit rat<span class=\"_ _0\"></span>ing; and \u2022 <span class=\"_ _19\"> </span>to maint<span class=\"_ _0\"></span>ain a dividen<span class=\"_ _0\"></span>d policy to pay an or<span class=\"_ _0\"></span>dinary di<span class=\"_ _0\"></span>vidend tha<span class=\"_ _0\"></span>t is progres<span class=\"_ _0\"></span>sive and sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le.<span class=\"_ _3bd\"> </span>The fr<span class=\"_ _0\"></span>amework co<span class=\"_ _0\"></span>mprises a s<span class=\"_ _0\"></span>uite o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>apital m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment polici<span class=\"_ _0\"></span>es that govern t<span class=\"_ _0\"></span>he alloca<span class=\"_ _0\"></span>tion of capita<span class=\"_ _0\"></span>l througho<span class=\"_ _0\"></span>ut the Group to a<span class=\"_ _0\"></span>chieve the<span class=\"_ gs47\"> </span>fra<span class=\"_ _0\"></span>mework obj<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>s under a ran<span class=\"_ _0\"></span>ge of stres<span class=\"_ _0\"></span>s conditio<span class=\"_ _0\"></span>ns. The p<span class=\"_ _0\"></span>olicy suite is de<span class=\"_ _0\"></span>fined with refere<span class=\"_ _0\"></span>nce to polic<span class=\"_ _0\"></span>yholder s<span class=\"_ _0\"></span>ecurit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, c<span class=\"_ _0\"></span>reditor oblig<span class=\"_ _0\"></span>ations<span class=\"_ _0\"></span>, owner di<span class=\"_ _0\"></span>vidend po<span class=\"_ _0\"></span>licy and re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capita<span class=\"_ _0\"></span>l requireme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>Group capital<span class=\"_ _3bd\"> </span>Group c<span class=\"_ _0\"></span>apital is m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d on a Solven<span class=\"_ _0\"></span>cy UK ba<span class=\"_ _0\"></span>sis, un<span class=\"_ _0\"></span>der which the p<span class=\"_ _0\"></span>rimar<span class=\"_ _0\"></span>y sources of c<span class=\"_ _0\"></span>apital ma<span class=\"_ _0\"></span>nage<span class=\"_ _0\"></span>d by the Group co<span class=\"_ _0\"></span>mprise the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s O<span class=\"_ _0\"></span>wn Funds as m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der Sol<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ncy UK r<span class=\"_ _0\"></span>ules adju<span class=\"_ _0\"></span>sted to exclu<span class=\"_ _0\"></span>de surplus fun<span class=\"_ _0\"></span>ds attr<span class=\"_ _0\"></span>ibutable to th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s un<span class=\"_ _0\"></span>suppor<span class=\"_ _0\"></span>ted with-p<span class=\"_ _0\"></span>rofits fund<span class=\"_ _0\"></span>s and unsupported pensi<span class=\"_ _2\"></span>on schemes. A Sol<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ncy UK c<span class=\"_ _0\"></span>apital as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment involves val<span class=\"_ _0\"></span>uation in line with S<span class=\"_ _0\"></span>olvency U<span class=\"_ _0\"></span>K rules of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s O<span class=\"_ _0\"></span>wn Funds and a risk-ba<span class=\"_ _0\"></span>sed as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of the Group\u2019s Solven<span class=\"_ _0\"></span>cy Capit<span class=\"_ _0\"></span>al Requirem<span class=\"_ _0\"></span>ent (\u2018<span class=\"_ _0\"></span>SCR<span class=\"_ _0\"></span>\u2019). S<span class=\"_ _0\"></span>olvency I<span class=\"_ _0\"></span>I surplus is the e<span class=\"_ _0\"></span>xcess of O<span class=\"_ _0\"></span>wn F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds over the SC<span class=\"_ _0\"></span>R.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up aims to mainta<span class=\"_ _0\"></span>in a Solvenc<span class=\"_ _0\"></span>y II surplu<span class=\"_ _0\"></span>s at least e<span class=\"_ _0\"></span>qual to its B<span class=\"_ _0\"></span>oard-ap<span class=\"_ _0\"></span>proved capit<span class=\"_ _0\"></span>al policy, which refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s Board risk ap<span class=\"_ _0\"></span>petite for me<span class=\"_ _0\"></span>eting prevailin<span class=\"_ _0\"></span>g solvenc<span class=\"_ _0\"></span>y requireme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>apital po<span class=\"_ _0\"></span>licy of each Life C<span class=\"_ _0\"></span>ompany is set a<span class=\"_ _0\"></span>nd monitore<span class=\"_ _0\"></span>d by each Life Com<span class=\"_ _0\"></span>pany Board<span class=\"_ _0\"></span>. These p<span class=\"_ _0\"></span>olicies ens<span class=\"_ _0\"></span>ure there is suf<span class=\"_ _0\"></span>ficient c<span class=\"_ _0\"></span>apital with<span class=\"_ _0\"></span>in eac<span class=\"_ _0\"></span>h Life Company to me<span class=\"_ _0\"></span>et regul<span class=\"_ _0\"></span>atory c<span class=\"_ _0\"></span>apital req<span class=\"_ _0\"></span>uirement<span class=\"_ _0\"></span>s under a ran<span class=\"_ _0\"></span>ge of stres<span class=\"_ _0\"></span>s condition<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>olicy of each Life C<span class=\"_ _0\"></span>ompany varie<span class=\"_ _0\"></span>s acc<span class=\"_ _0\"></span>ording to the ris<span class=\"_ _0\"></span>k profile and finan<span class=\"_ _0\"></span>cial stre<span class=\"_ _0\"></span>ngth of the co<span class=\"_ _0\"></span>mpany<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>apital po<span class=\"_ _0\"></span>licy of each G<span class=\"_ _0\"></span>roup Holdin<span class=\"_ _0\"></span>g Company is de<span class=\"_ _0\"></span>signed to e<span class=\"_ _0\"></span>nsure that th<span class=\"_ _0\"></span>ere is suffi<span class=\"_ _0\"></span>cient liquidit<span class=\"_ _0\"></span>y to mee<span class=\"_ _0\"></span>t creditor oblig<span class=\"_ _0\"></span>ations thro<span class=\"_ _0\"></span>ugh the comb<span class=\"_ _0\"></span>ination of cas<span class=\"_ _0\"></span>h buffer<span class=\"_ _0\"></span>s and cas<span class=\"_ _0\"></span>h flows from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s op<span class=\"_ _0\"></span>erating co<span class=\"_ _0\"></span>mpanies<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Own Fun<span class=\"_ _0\"></span>ds and S<span class=\"_ _0\"></span>CR<span class=\"_ _3bd\"> </span>Basi<span class=\"_ _0\"></span>c Own Funds repre<span class=\"_ _0\"></span>sents th<span class=\"_ _0\"></span>e excess of as<span class=\"_ _0\"></span>sets over li<span class=\"_ _0\"></span>abilities from th<span class=\"_ _0\"></span>e Solvenc<span class=\"_ _0\"></span>y II balan<span class=\"_ _0\"></span>ce she<span class=\"_ _0\"></span>et adjus<span class=\"_ _0\"></span>ted to add b<span class=\"_ _0\"></span>ack any relevant s<span class=\"_ _0\"></span>ubordinated liabilitie<span class=\"_ _0\"></span>s that me<span class=\"_ _0\"></span>et the criteria to b<span class=\"_ _0\"></span>e treated as c<span class=\"_ _0\"></span>apital ite<span class=\"_ _0\"></span>ms.<span class=\"_ _3bd\"> </span>The B<span class=\"_ _0\"></span>asic Own Funds a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed into three T<span class=\"_ _0\"></span>iers bas<span class=\"_ _0\"></span>ed on pe<span class=\"_ _0\"></span>rmanen<span class=\"_ _0\"></span>cy and los<span class=\"_ _0\"></span>s absorb<span class=\"_ _0\"></span>ency (<span class=\"_ _0\"></span>Tier 1 b<span class=\"_ _0\"></span>eing the hig<span class=\"_ _0\"></span>hest qu<span class=\"_ _0\"></span>ality an<span class=\"_ _0\"></span>d Tier 3 the lowes<span class=\"_ _0\"></span>t). The Group\u2019s Own Funds a<span class=\"_ _0\"></span>re asse<span class=\"_ _0\"></span>ssed for t<span class=\"_ _0\"></span>heir eligibilit<span class=\"_ _0\"></span>y to cover the G<span class=\"_ _0\"></span>roup SCR w<span class=\"_ _0\"></span>ith reference to b<span class=\"_ _0\"></span>oth the qualit<span class=\"_ _0\"></span>y of capit<span class=\"_ _0\"></span>al and its availabilit<span class=\"_ _0\"></span>y and tr<span class=\"_ _0\"></span>ansfera<span class=\"_ _0\"></span>bility. Surplu<span class=\"_ _0\"></span>s funds in with-<span class=\"_ _0\"></span>profits fund<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Life Compani<span class=\"_ _0\"></span>es and in the p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes are re<span class=\"_ _0\"></span>stricte<span class=\"_ _0\"></span>d and ca<span class=\"_ _0\"></span>n only be inclu<span class=\"_ _0\"></span>ded in Eligible O<span class=\"_ _0\"></span>wn Funds up to the val<span class=\"_ _0\"></span>ue of the SCR th<span class=\"_ _0\"></span>ey are used to s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Eligible O<span class=\"_ _0\"></span>wn Funds to cover th<span class=\"_ _0\"></span>e SCR are obt<span class=\"_ _0\"></span>ained af<span class=\"_ _0\"></span>ter applyin<span class=\"_ _0\"></span>g the presc<span class=\"_ _0\"></span>ribed Ti<span class=\"_ _0\"></span>ering limits a<span class=\"_ _0\"></span>nd availabilit<span class=\"_ _0\"></span>y restr<span class=\"_ _0\"></span>ictions to th<span class=\"_ _0\"></span>e Basic Own Fun<span class=\"_ _0\"></span>ds.<span class=\"_ _3bd\"> </span>The S<span class=\"_ _0\"></span>CR is calib<span class=\"_ _0\"></span>rated so th<span class=\"_ _0\"></span>at the lik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lihood of a los<span class=\"_ _0\"></span>s excee<span class=\"_ _0\"></span>ding the SC<span class=\"_ _0\"></span>R is less th<span class=\"_ _0\"></span>an 0.5% over on<span class=\"_ _0\"></span>e year<span class=\"_ _2\"></span>. This e<span class=\"_ _0\"></span>nsures that c<span class=\"_ _0\"></span>apital is s<span class=\"_ _0\"></span>ufficie<span class=\"_ _0\"></span>nt to<span class=\"_ gs47\"> </span>withs<span class=\"_ _0\"></span>tand a bro<span class=\"_ _0\"></span>adly \u2018<span class=\"_ _0\"></span>1 in 200<span class=\"_ _0\"></span>-year event<span class=\"_ _0\"></span>\u2019<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up operate<span class=\"_ _0\"></span>s an Internal M<span class=\"_ _0\"></span>odel to ca<span class=\"_ _0\"></span>lculate Group S<span class=\"_ _0\"></span>CR<span class=\"_ _0\"></span>, all Group com<span class=\"_ _0\"></span>panies are wit<span class=\"_ _0\"></span>hin the scop<span class=\"_ _0\"></span>e of the single inter<span class=\"_ _0\"></span>nal mode<span class=\"_ _0\"></span>l, with the excepti<span class=\"_ _0\"></span>on of acquired Re<span class=\"_ _0\"></span>Assure b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>ses, th<span class=\"_ _0\"></span>e Irish life entitie<span class=\"_ _0\"></span>s, Sta<span class=\"_ _0\"></span>ndard Life Interna<span class=\"_ _0\"></span>tional De<span class=\"_ _0\"></span>signated Ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y an<span class=\"_ _0\"></span>d Phoeni<span class=\"_ _0\"></span>x Lif<span class=\"_ _2\"></span>e As<span class=\"_ _0\"></span>surance Euro<span class=\"_ _0\"></span>pe Desig<span class=\"_ _0\"></span>nated Act<span class=\"_ _0\"></span>ivity C<span class=\"_ _0\"></span>ompany, and Phoe<span class=\"_ _0\"></span>nix Life CA Limited (formerly kn<span class=\"_ _0\"></span>own as Sun Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y of<span class=\"_ gs47\"> </span>Ca<span class=\"_ _0\"></span>nada (U.<span class=\"_ _0\"></span>K.) Limited<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>, w<span class=\"_ _0\"></span>hich determine t<span class=\"_ _0\"></span>heir capit<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with the Sta<span class=\"_ _0\"></span>ndard Formula<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gsbac\">Group capital<span class=\"_ _2\"></span> resources \u2013 unaudited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbad\">The Gro<span class=\"_ _0\"></span>up capit<span class=\"_ _0\"></span>al resourc<span class=\"_ _0\"></span>es prese<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d on a shareh<span class=\"_ _0\"></span>older ba<span class=\"_ _0\"></span>sis, are b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Elig<span class=\"_ _0\"></span>ible Own Funds a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>ted to remove amo<span class=\"_ _0\"></span>unts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbae\">per<span class=\"_ _0\"></span>tainin<span class=\"_ _0\"></span>g to unsuppor<span class=\"_ _0\"></span>ted with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds and Group p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gsbaf\"><table class=\"s w9b5 h2ca\" id=\"_caeb0086-1a45-40c4-ac7c-f58f6dc7543b\"><tr><td></td><td class=\"t m0 x1ce ha y63c8 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span><span class=\"ff2 ls1 ws1\"> </span></td><td class=\"t m0 x1cd ha y63c8 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td class=\"t m0 x21a ha y63c9 ff2 fs5 fc3 sc0 lsa8 wsa3\">Unaudited<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b h29 y63c9 ff3 fs5 fc3 sc0 ls21 ws23\">\u00a3bn<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55c ha y63c9 ff2 fs5 fc3 sc0 ls36 ws33\">\u00a3bn<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y63ca wdca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">PG<span class=\"_ _0\"></span>H plc Eligib<span class=\"_ _0\"></span>le Own Fund<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2213 y63ca wdcb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">10.3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2214 y63ca wdcc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">11.1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y63cb ff2 fs6 fc3 sc0 ls1 ws1\">Remove O<span class=\"_ _0\"></span>wn Funds per<span class=\"_ _0\"></span>tainin<span class=\"_ _0\"></span>g t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>suppor<span class=\"_ _0\"></span>ted with-p<span class=\"_ _0\"></span>rofits fund<span class=\"_ _0\"></span>s and pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"c n x19c7 y63cc wdcd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>.9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2215 y63cc w4d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2.<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 wdce h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Group capital resources<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2216 y5b44 wdcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">8.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2217 y5b44 wd7b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">8.9<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsbb0\">Rec<span class=\"_ _0\"></span>onci<span class=\"_ _0\"></span>liatio<span class=\"_ _0\"></span>n betw<span class=\"_ _0\"></span>een IFRS e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y and es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>ted Elig<span class=\"_ _0\"></span>ible O<span class=\"_ _0\"></span>wn Funds un<span class=\"_ _0\"></span>der So<span class=\"_ _0\"></span>lvency I<span class=\"_ _0\"></span>I </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbb1\">A rec<span class=\"_ _0\"></span>onciliation s<span class=\"_ _0\"></span>ummarising t<span class=\"_ _0\"></span>he k<span class=\"_ _2\"></span>ey dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>es bet<span class=\"_ _0\"></span>ween total I<span class=\"_ _0\"></span>FRS equit<span class=\"_ _0\"></span>y and th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Elig<span class=\"_ _0\"></span>ible Own Funds un<span class=\"_ _0\"></span>der Solve<span class=\"_ _0\"></span>ncy II is s<span class=\"_ _0\"></span>hown in the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1a ws1b gsbb2\">following table:<span class=\"_ _3bd\"> </span></div><div class=\"gsbb3\"><table class=\"s wdd0 h2cb\" id=\"_c99cc24a-cdb9-420e-ae03-b3971574ca3c\"><tr><td></td><td class=\"t m0 x5a2 h29 y63cd ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y63cd ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x55b h29 y63ce ff3 fs5 fc3 sc0 ls21 ws23\">\u00a3bn<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafc ha y63ce ff2 fs5 fc3 sc0 ls36 ws33\">\u00a3bn<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5c1d wdd1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal IFRS equity<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2218 y5c1d wdd2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">2.<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2219 y5c1d wdd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cc6 wdd4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct non<span class=\"_ _0\"></span>-controlling inte<span class=\"_ _0\"></span>rests<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221a y5cc6 w9ca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(0.5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221b y5cc6 wdd5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(<span class=\"_ _0\"></span>0.5)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d35 wdd6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct go<span class=\"_ _0\"></span>odwill, inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d deferred ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221c y5d35 wdcd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1.<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221d y5d35 wdd7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">(2.1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b31 wdd8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Revalua<span class=\"_ _0\"></span>tion of subordinate<span class=\"_ _0\"></span>d liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x734 y5b31 w105 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">0.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221e y5b31 wdd9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">0.<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b32 wdda h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net imp<span class=\"_ _0\"></span>act of valuin<span class=\"_ _0\"></span>g t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnica<span class=\"_ _0\"></span>l provisions<span class=\"_ _0\"></span>, net of reinsur<span class=\"_ _0\"></span>ance rec<span class=\"_ _0\"></span>overables</div><div class=\"t m0 x221f h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x2220 hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">, on So<span class=\"_ _0\"></span>lvency II b<span class=\"_ _0\"></span>asis</div><div class=\"t m0 x2221 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x730 y5b32 wddb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls2c ws179\">11<span class=\"_ _0\"></span>.6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2222 y5b32 w9ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">10.6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b33 w4a6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax imp<span class=\"_ _0\"></span>act of valuati<span class=\"_ _0\"></span>on differen<span class=\"_ _0\"></span>ces</div><div class=\"t m0 x94c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5b33 wdcd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>.1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2215 y5b33 wddc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>.0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b34 wddd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other valua<span class=\"_ _2\"></span>tion di<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>erences</div><div class=\"t m0 x2223 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5c48 wdde h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">(0.1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2224 y5c48 wddf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(0.2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 wde0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Exc<span class=\"_ _0\"></span>ess of as<span class=\"_ _0\"></span>sets ove<span class=\"_ _0\"></span>r liabiliti<span class=\"_ _0\"></span>es under S<span class=\"_ _0\"></span>olvenc<span class=\"_ _0\"></span>y II<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2225 y5a12 wde1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">10.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2226 y5a12 w9df h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a45 wde2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Sub<span class=\"_ _0\"></span>ordinated liab<span class=\"_ _0\"></span>ilities</div><div class=\"t m0 x2227 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2228 y5a45 w270 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139f y5a45 w29e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a46 wde3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ring<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>fen<span class=\"_ _0\"></span>ced fun<span class=\"_ _0\"></span>d restric<span class=\"_ _0\"></span>tions</div><div class=\"t m0 x2229 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5a46 wde4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls2c ws179\">(2.6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222a y5a46 w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2.2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b25 wa76 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er availabilit<span class=\"_ _0\"></span>y restr<span class=\"_ _0\"></span>ictions</div><div class=\"t m0 x1e20 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5b25 wde5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(0.8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222b y5b25 wddc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>.0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wde6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">PG<span class=\"_ _0\"></span>HP plc eli<span class=\"_ _0\"></span>gible own f<span class=\"_ _0\"></span>unds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222c y5a16 wde7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>0.3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222d y5a16 wde8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">11<span class=\"_ _0\"></span>.1<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsbb4\">1 <span class=\"_ _9\"> </span> The<span class=\"_ _0\"></span>se bal<span class=\"_ _0\"></span>ance<span class=\"_ _0\"></span>s are una<span class=\"_ _0\"></span>udite<span class=\"_ _0\"></span>d and re<span class=\"_ _0\"></span>flect S<span class=\"_ _0\"></span>olve<span class=\"_ _0\"></span>ncy I<span class=\"_ _0\"></span>I adju<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nts<span class=\"_ _0\"></span>. </div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-648": {
   "value": "E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.1 Cred<span class=\"_ _0\"></span>it risk<span class=\"_ _3bd\"> </span>Credit r<span class=\"_ _0\"></span>isk is define<span class=\"_ _0\"></span>d as the risk of red<span class=\"_ _0\"></span>uctions in e<span class=\"_ _0\"></span>arnings an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or val<span class=\"_ _0\"></span>ue, throug<span class=\"_ _0\"></span>h financial o<span class=\"_ _0\"></span>r reputatio<span class=\"_ _0\"></span>nal loss<span class=\"_ _0\"></span>, as a res<span class=\"_ _0\"></span>ult of the default of a counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y or an as<span class=\"_ _0\"></span>socia<span class=\"_ _0\"></span>te o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>uch a counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y to a financi<span class=\"_ _0\"></span>al transa<span class=\"_ _0\"></span>ction (i.e<span class=\"_ _0\"></span>. failure to hono<span class=\"_ _0\"></span>ur their finan<span class=\"_ _0\"></span>cial obliga<span class=\"_ _0\"></span>tions, o<span class=\"_ _0\"></span>r failing to per<span class=\"_ _0\"></span>form them in a tim<span class=\"_ _0\"></span>ely mann<span class=\"_ _0\"></span>er), whether on o<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f balan<span class=\"_ _0\"></span>ce shee<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>There a<span class=\"_ _0\"></span>re two prin<span class=\"_ _0\"></span>cipal sourc<span class=\"_ _0\"></span>es of credit ris<span class=\"_ _0\"></span>k for the Group:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>cre<span class=\"_ _0\"></span>dit risk which re<span class=\"_ _0\"></span>sults from dire<span class=\"_ _0\"></span>ct investm<span class=\"_ _0\"></span>ent activ<span class=\"_ _0\"></span>ities, in<span class=\"_ _0\"></span>cluding inves<span class=\"_ _0\"></span>tments in d<span class=\"_ _0\"></span>ebt secur<span class=\"_ _0\"></span>ities, d<span class=\"_ _0\"></span>erivatives co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>, collec<span class=\"_ _0\"></span>tive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes<span class=\"_ _0\"></span>, hedge f<span class=\"_ _0\"></span>unds and th<span class=\"_ _0\"></span>e placing of c<span class=\"_ _0\"></span>ash depo<span class=\"_ _0\"></span>sits; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>cre<span class=\"_ _0\"></span>dit risk which re<span class=\"_ _0\"></span>sults indire<span class=\"_ _0\"></span>ctly from a<span class=\"_ _0\"></span>ctivitie<span class=\"_ _0\"></span>s under<span class=\"_ _0\"></span>taken in the norm<span class=\"_ _0\"></span>al cours<span class=\"_ _0\"></span>e of busines<span class=\"_ _0\"></span>s. Su<span class=\"_ _0\"></span>ch activit<span class=\"_ _0\"></span>ies includ<span class=\"_ _0\"></span>e premium payme<span class=\"_ _0\"></span>nts, out<span class=\"_ _0\"></span>sourcing c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e agreem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, exposure fro<span class=\"_ _0\"></span>m material sup<span class=\"_ _0\"></span>pliers and t<span class=\"_ _0\"></span>he lending of s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ount disclo<span class=\"_ _0\"></span>sed in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>ll financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, tog<span class=\"_ _0\"></span>ether with rig<span class=\"_ _0\"></span>hts sec<span class=\"_ _0\"></span>ured under of<span class=\"_ _0\"></span>f bala<span class=\"_ _0\"></span>nce she<span class=\"_ _0\"></span>et collatera<span class=\"_ _0\"></span>l arrang<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>, but exclu<span class=\"_ _0\"></span>ding the mino<span class=\"_ _0\"></span>rity intere<span class=\"_ _0\"></span>st in cons<span class=\"_ _0\"></span>olidated c<span class=\"_ _0\"></span>ollective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes a<span class=\"_ _0\"></span>nd those a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s that back polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, represe<span class=\"_ _0\"></span>nts the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s max<span class=\"_ _0\"></span>imum expos<span class=\"_ _0\"></span>ure t<span class=\"_ _2\"></span>o c<span class=\"_ _0\"></span>redit risk<span class=\"_ _0\"></span>. The credit r<span class=\"_ _0\"></span>isk borne by th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder on with-p<span class=\"_ _0\"></span>rofits polici<span class=\"_ _0\"></span>es is dep<span class=\"_ _0\"></span>endent on th<span class=\"_ _0\"></span>e extent to whic<span class=\"_ _0\"></span>h the underl<span class=\"_ _0\"></span>ying insuran<span class=\"_ _0\"></span>ce fund is re<span class=\"_ _0\"></span>lying on sha<span class=\"_ _0\"></span>reholde<span class=\"_ _0\"></span>r suppor<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>The imp<span class=\"_ _0\"></span>act of non-<span class=\"_ _0\"></span>governme<span class=\"_ _0\"></span>nt debt sec<span class=\"_ _0\"></span>urities and<span class=\"_ _0\"></span>, inter alia, th<span class=\"_ _0\"></span>e chang<span class=\"_ _0\"></span>e in market credit spre<span class=\"_ _0\"></span>ads during th<span class=\"_ _0\"></span>e year is fully refl<span class=\"_ _0\"></span>ected in th<span class=\"_ _0\"></span>e values shown in t<span class=\"_ _0\"></span>hese con<span class=\"_ _0\"></span>solidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. Cre<span class=\"_ _0\"></span>dit spread<span class=\"_ _0\"></span>s are the exces<span class=\"_ _0\"></span>s of corpor<span class=\"_ _0\"></span>ate bond yiel<span class=\"_ _0\"></span>ds over gilt yield<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o refl<span class=\"_ _0\"></span>ect th<span class=\"_ _0\"></span>e higher level of risk. S<span class=\"_ _0\"></span>imilarly, the value of de<span class=\"_ _0\"></span>rivatives that th<span class=\"_ _0\"></span>e Group hold<span class=\"_ _0\"></span>s takes into acco<span class=\"_ _0\"></span>unt fully the cha<span class=\"_ _0\"></span>nges in s<span class=\"_ _0\"></span>wap rates<span class=\"_ _0\"></span>. There i<span class=\"_ _0\"></span>s an exposure to s<span class=\"_ _0\"></span>pread cha<span class=\"_ _0\"></span>nges af<span class=\"_ _0\"></span>fectin<span class=\"_ _0\"></span>g the price<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>orporate b<span class=\"_ _0\"></span>onds and de<span class=\"_ _0\"></span>rivatives. T<span class=\"_ _0\"></span>his expos<span class=\"_ _0\"></span>ure applies to supp<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d with-profit<span class=\"_ _0\"></span>s fund<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>whe<span class=\"_ _0\"></span>re risks and rewa<span class=\"_ _0\"></span>rds fall wholly to s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>ers), non-profi<span class=\"_ _0\"></span>t funds and s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>ers\u2019 funds<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up holds \u00a3<span class=\"_ _0\"></span>17<span class=\"_ _4\"></span>,<span class=\"_ _0\"></span>554 millio<span class=\"_ _0\"></span>n (2023: \u00a31<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>79 milli<span class=\"_ _0\"></span>on) o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>orporate bo<span class=\"_ _0\"></span>nds which are u<span class=\"_ _0\"></span>sed to bac<span class=\"_ _0\"></span>k annuit<span class=\"_ _0\"></span>y liabilities in n<span class=\"_ _0\"></span>on-profit fund<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se<span class=\"_ gs47\"> </span>annuit<span class=\"_ _0\"></span>y liabilitie<span class=\"_ _0\"></span>s include an a<span class=\"_ _0\"></span>ggreg<span class=\"_ _0\"></span>ate credit defa<span class=\"_ _0\"></span>ult provision of \u00a33<span class=\"_ _0\"></span>30 million (2023<span class=\"_ _0\"></span>: \u00a338<span class=\"_ _0\"></span>8 million) to fund a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he risk of default<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The cre<span class=\"_ _0\"></span>dit sprea<span class=\"_ _0\"></span>d sensiti<span class=\"_ _0\"></span>vity rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s a 100<span class=\"_ _0\"></span>bps widenin<span class=\"_ _0\"></span>g of credit spre<span class=\"_ _0\"></span>ads, w<span class=\"_ _0\"></span>ith no chan<span class=\"_ _0\"></span>ge in the risk-free interes<span class=\"_ _0\"></span>t rate cur<span class=\"_ _0\"></span>ve. Under t<span class=\"_ _0\"></span>his sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y it is also as<span class=\"_ _0\"></span>sumed t<span class=\"_ _0\"></span>hat both expe<span class=\"_ _0\"></span>cted an<span class=\"_ _0\"></span>d unexpe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults remain un<span class=\"_ _0\"></span>chang<span class=\"_ _0\"></span>ed. The illi<span class=\"_ _0\"></span>quidity p<span class=\"_ _0\"></span>remium use<span class=\"_ _0\"></span>d in the valuation of prima<span class=\"_ _0\"></span>rily annuit<span class=\"_ _0\"></span>y liabilitie<span class=\"_ _0\"></span>s, and as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, is adj<span class=\"_ _0\"></span>usted to refl<span class=\"_ _0\"></span>ect the im<span class=\"_ _0\"></span>pact of the c<span class=\"_ _0\"></span>hange in cre<span class=\"_ _0\"></span>dit sprea<span class=\"_ _0\"></span>ds arising on a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s cont<span class=\"_ _0\"></span>aining credit r<span class=\"_ _0\"></span>isk held with<span class=\"_ _0\"></span>in the referenc<span class=\"_ _0\"></span>e port<span class=\"_ _0\"></span>folio.<span class=\"_ _3bd\"> </span>A 10<span class=\"_ _0\"></span>0bps wi<span class=\"_ _0\"></span>dening of credi<span class=\"_ _0\"></span>t spreads<span class=\"_ _0\"></span>, with all othe<span class=\"_ _0\"></span>r variables h<span class=\"_ _0\"></span>eld cons<span class=\"_ _0\"></span>tant and n<span class=\"_ _0\"></span>o chang<span class=\"_ _0\"></span>e in assum<span class=\"_ _0\"></span>ed expe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults, wo<span class=\"_ _0\"></span>uld result in an incre<span class=\"_ _0\"></span>ase in the profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x in respe<span class=\"_ _0\"></span>ct of a full financ<span class=\"_ _0\"></span>ial year of \u00a314 millio<span class=\"_ _0\"></span>n (2023: dec<span class=\"_ _0\"></span>rease \u00a3<span class=\"_ _0\"></span>108 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>res<span class=\"_ _0\"></span>tated)), an in<span class=\"_ _0\"></span>crease in e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f \u00a3141 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>66 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>res<span class=\"_ _0\"></span>tated)), an<span class=\"_ _0\"></span>d a decrea<span class=\"_ _0\"></span>se in CSM of \u00a3<span class=\"_ _0\"></span>3 million (2023: \u00a3<span class=\"_ _0\"></span>14 million (resta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d)).<span class=\"_ _3bd\"> </span>A 10<span class=\"_ _0\"></span>0bps n<span class=\"_ _0\"></span>arrowing of credit s<span class=\"_ _0\"></span>preads<span class=\"_ _0\"></span>, with all othe<span class=\"_ _0\"></span>r variables h<span class=\"_ _0\"></span>eld cons<span class=\"_ _0\"></span>tant and n<span class=\"_ _0\"></span>o chang<span class=\"_ _0\"></span>e in assume<span class=\"_ _0\"></span>d expe<span class=\"_ _0\"></span>cted defa<span class=\"_ _0\"></span>ults, wo<span class=\"_ _0\"></span>uld result in an incre<span class=\"_ _0\"></span>ase in the profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x in respe<span class=\"_ _0\"></span>ct of a full financ<span class=\"_ _0\"></span>ial year of \u00a3<span class=\"_ _2\"></span>42 milli<span class=\"_ _0\"></span>on (2023: \u00a32<span class=\"_ _0\"></span>02 million (restate<span class=\"_ _0\"></span>d)), a decrea<span class=\"_ _0\"></span>se in equit<span class=\"_ _0\"></span>y of \u00a3113 milli<span class=\"_ _0\"></span>on (2023<span class=\"_ _0\"></span>: \u00a3136 m<span class=\"_ _0\"></span>illion (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d)<span class=\"_ _2\"></span>), an<span class=\"_ _0\"></span>d an increa<span class=\"_ _0\"></span>se in CSM of \u00a3<span class=\"_ _0\"></span>3 million (2023: \u00a3<span class=\"_ _0\"></span>9 million (restate<span class=\"_ _0\"></span>d)).<span class=\"_ _3bd\"> </span>Det<span class=\"_ _0\"></span>ails of the rest<span class=\"_ _0\"></span>atement of the p<span class=\"_ _0\"></span>rior year comp<span class=\"_ _0\"></span>aratives is dis<span class=\"_ _0\"></span>close<span class=\"_ _0\"></span>d in note E6.<span class=\"_ _0\"></span>2.<span class=\"_ _3bd\"> </span>Credit r<span class=\"_ _0\"></span>isk is mana<span class=\"_ _0\"></span>ged by the m<span class=\"_ _0\"></span>onitoring of ag<span class=\"_ _0\"></span>gregate G<span class=\"_ _0\"></span>roup exposure<span class=\"_ _0\"></span>s to individual c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ties an<span class=\"_ _0\"></span>d by appropriate cre<span class=\"_ _0\"></span>dit risk diver<span class=\"_ _0\"></span>sification (inclu<span class=\"_ _0\"></span>ding by indus<span class=\"_ _0\"></span>try, credit ra<span class=\"_ _0\"></span>ting, as<span class=\"_ _0\"></span>set cla<span class=\"_ _0\"></span>ss and co<span class=\"_ _0\"></span>untry). The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up manag<span class=\"_ _0\"></span>es the level of cre<span class=\"_ _0\"></span>dit risk it ac<span class=\"_ _0\"></span>cepts thro<span class=\"_ _0\"></span>ugh an es<span class=\"_ _0\"></span>tablishe<span class=\"_ _0\"></span>d Group Credit R<span class=\"_ _0\"></span>isk Policy and G<span class=\"_ _0\"></span>roup Credit Limit an<span class=\"_ _0\"></span>d Counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y Framework th<span class=\"_ _0\"></span>at include<span class=\"_ _0\"></span>s the use of cre<span class=\"_ _0\"></span>dit risk tolera<span class=\"_ _0\"></span>nces an<span class=\"_ _0\"></span>d limits. Ad<span class=\"_ _0\"></span>ditional co<span class=\"_ _0\"></span>ntrols for illiquid a<span class=\"_ _0\"></span>sset co<span class=\"_ _0\"></span>ncentrati<span class=\"_ _0\"></span>on risk are set o<span class=\"_ _0\"></span>ut via spec<span class=\"_ _0\"></span>ific risk limit<span class=\"_ _0\"></span>s within the fram<span class=\"_ _0\"></span>ework. Cre<span class=\"_ _0\"></span>dit risk on der<span class=\"_ _0\"></span>ivatives and<span class=\"_ gs47\"> </span>se<span class=\"_ _0\"></span>curitie<span class=\"_ _0\"></span>s lending is mitig<span class=\"_ _0\"></span>ated throug<span class=\"_ _0\"></span>h the use of colla<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ral with app<span class=\"_ _0\"></span>ropriate haircu<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span> Cre<span class=\"_ _0\"></span>dit qua<span class=\"_ _0\"></span>lity of a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>An indic<span class=\"_ _0\"></span>ation of the Group\u2019s expo<span class=\"_ _0\"></span>sure to credit ris<span class=\"_ _0\"></span>k is the qualit<span class=\"_ _0\"></span>y of the investm<span class=\"_ _0\"></span>ents and c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ties with w<span class=\"_ _0\"></span>hich it trans<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s. The follow<span class=\"_ _0\"></span>ing table provide<span class=\"_ _0\"></span>s in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation reg<span class=\"_ _0\"></span>arding the ag<span class=\"_ _0\"></span>greg<span class=\"_ _0\"></span>ate credit exp<span class=\"_ _0\"></span>osure split by cre<span class=\"_ _0\"></span>dit rating<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5b7 h24d\" id=\"_0b1706c7-d1ca-47c2-b60c-88fe4734fee7\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x287 h29 y5dbe ff3 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x3b1 h29 y5dbf ff3 fs5 fc3 sc0 ls1 ws1\">am<span class=\"_ _0\"></span>ount<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x2ee h29 y5dc0 ff3 fs5 fc3 sc0 ls8d ws86\">classified </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xc6b h29 y5dc1 ff3 fs5 fc3 sc0 ls1 ws1\">BB a<span class=\"_ _0\"></span>nd </td><td></td><td></td><td></td><td class=\"t m0 x3aa h29 y5dc1 ff3 fs5 fc3 sc0 ls1 ws1\">as h<span class=\"_ _0\"></span>eld for </td><td></td></tr><tr><td></td><td class=\"t m0 xc6c h29 y5dc2 ff3 fs5 fc3 sc0 ls1ef ws20e\">AAA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d h29 y5dc2 ff3 fs5 fc3 sc0 ls1ef ws20e\">AA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6e h29 y5dc2 ff3 fs5 fc3 sc0 ls1 ws1\">A<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6f h29 y5dc2 ff3 fs5 fc3 sc0 lsca wsca\">BBB<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e5 h29 y5dc2 ff3 fs5 fc3 sc0 ls105 ws107\">below<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc70 h29 y5dc2 ff3 fs5 fc3 sc0 ls11a ws11c\">Non-rated<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f h29 y5dc2 ff3 fs5 fc3 sc0 ls65 wsc0\">Unit-linked<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc71 h29 y5dc2 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x302 h29 y5dc2 ff3 fs5 fc3 sc0 ls8d ws86\">sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 h29 y5dc2 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5dc3 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 h29 y5dc3 ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 xc6d h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x920 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc73 h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y5dc3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dc4 wdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc74 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc75 y5dc4 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc76 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc77 y5dc4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc78 y5dc4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc79 y5dc4 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7a y5dc4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7b y5dc4 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">261<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7c y5dc4 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7d y5dc4 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">261<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dc5 we2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7e y5dc5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc7f y5dc5 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,536<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc80 y5dc5 w5b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17b ws18b\">662<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc81 y5dc5 w19e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc82 y5dc5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc83 y5dc5 w5b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">3<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc84 y5dc5 wac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc85 y5dc5 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,60<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc86 y5dc5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc87 y5dc5 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">2,6<span class=\"_ _0\"></span>00<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5dc6 w5ba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 xc88 h11 y5a78 ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc89 y5dc7 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>2<span class=\"_ _1\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8a y5dc7 w5bb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">32,<span class=\"_ _0\"></span>89<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8b y5dc7 w5bc h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">17,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8c y5dc7 w5bd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls81 ws14c\">14<span class=\"_ _2\"></span>,967<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8d y5dc7 w34c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">2,5<span class=\"_ _2\"></span>18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8e y5dc7 w5be h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>07<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc8f y5dc7 w5bf h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">6<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc90 y5dc7 w3d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8<span class=\"_ _0\"></span>9,301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc91 y5dc7 w5c0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(979)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc92 y5dc7 w5bb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">8<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>322<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d13 wf7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc93 y5d13 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc94 y5d13 w5c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">3,<span class=\"_ _0\"></span>131<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc95 y5d13 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">2,056<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc96 y5d13 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc97 y5d13 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc98 y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc99 y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9a y5d13 w5c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5,<span class=\"_ _0\"></span>187<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9b y5d13 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2a5 y5d13 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dc8 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c06 w5c3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9c y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9d y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9e y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9f y5c06 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca0 y5c06 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca1 y5c06 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca2 y5c06 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca3 y5c06 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">9,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca4 y5c06 w1d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3c9 y5c06 w5c4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">9<span class=\"_ _0\"></span>,265<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w108 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca5 y5c07 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca6 y5c07 w5c5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">1,<span class=\"_ _0\"></span>453<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca7 y5c07 w16b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">5,820<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca8 y5c07 w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca9 y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcaa y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcab y5c07 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,1<span class=\"_ _0\"></span>30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcac y5c07 w147 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">9,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcad y5c07 w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcae y5c07 w10a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">9,<span class=\"_ _0\"></span>453<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xc89 y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcaf y5a16 w3d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">3<span class=\"_ _0\"></span>9,014<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb0 y5a16 w5c6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>,29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb1 y5a16 w5c7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">15,0<span class=\"_ _0\"></span>92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb2 y5a16 w4f4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">2,518<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb3 y5a16 w1f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb4 y5a16 w54 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>223<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb5 y5a16 w5c8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">11<span class=\"_ _0\"></span>6,1<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb6 y5a16 wec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">(<span class=\"_ _2\"></span>1,04<span class=\"_ _2\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcb7 y5a16 w13d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">115,088<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>For fin<span class=\"_ _0\"></span>ancia<span class=\"_ _0\"></span>l ass<span class=\"_ _0\"></span>ets th<span class=\"_ _0\"></span>at do not h<span class=\"_ _0\"></span>ave cre<span class=\"_ _0\"></span>dit rat<span class=\"_ _0\"></span>ings as<span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ed by ex<span class=\"_ _0\"></span>tern<span class=\"_ _0\"></span>al rat<span class=\"_ _0\"></span>ings a<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>ies<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up ass<span class=\"_ _0\"></span>igns in<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l ratin<span class=\"_ _0\"></span>gs for u<span class=\"_ _0\"></span>se in man<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>ment an<span class=\"_ _0\"></span>d moni<span class=\"_ _0\"></span>torin<span class=\"_ _0\"></span>g of credi<span class=\"_ _0\"></span>t risk<span class=\"_ _0\"></span>. \u00a355 mil<span class=\"_ _0\"></span>lion of A<span class=\"_ _0\"></span>AA<span class=\"_ _0\"></span>, \u00a38<span class=\"_ _0\"></span>65 mi<span class=\"_ _0\"></span>llion of A<span class=\"_ _0\"></span>A, \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>837 mi<span class=\"_ _0\"></span>llion of A<span class=\"_ _0\"></span>, \u00a32<span class=\"_ _0\"></span>,26<span class=\"_ _0\"></span>6 milli<span class=\"_ _0\"></span>on of BB<span class=\"_ _0\"></span>B and \u00a324<span class=\"_ _0\"></span>0 millio<span class=\"_ _0\"></span>n of BB and b<span class=\"_ _0\"></span>elow d<span class=\"_ _0\"></span>ebt se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>ies are i<span class=\"_ _0\"></span>ntern<span class=\"_ _0\"></span>ally ra<span class=\"_ _0\"></span>ted. If a fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set is n<span class=\"_ _0\"></span>eithe<span class=\"_ _0\"></span>r rate<span class=\"_ _0\"></span>d by an ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l agen<span class=\"_ _0\"></span>cy no<span class=\"_ _0\"></span>r intern<span class=\"_ _0\"></span>ally rat<span class=\"_ _0\"></span>ed, it i<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as \u2018non-<span class=\"_ _0\"></span>rated<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>N<span class=\"_ _0\"></span>on-ra<span class=\"_ _0\"></span>ted de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>udes e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y rele<span class=\"_ _0\"></span>ase mo<span class=\"_ _0\"></span>rtg<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>s with a val<span class=\"_ _0\"></span>ue of \u00a34,7<span class=\"_ _0\"></span>95 mil<span class=\"_ _0\"></span>lion (fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r deta<span class=\"_ _0\"></span>ils are s<span class=\"_ _0\"></span>et out in n<span class=\"_ _0\"></span>ote E2.<span class=\"_ _0\"></span>3) an<span class=\"_ _0\"></span>d non-r<span class=\"_ _0\"></span>ated b<span class=\"_ _0\"></span>onds<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5c9 h24e\" id=\"_19376815-9c95-4114-b258-9ff389127759\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xcb8 ha y5dc9 ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xcb9 ha y5dca ff2 fs5 fc3 sc0 ls21 ws23\">amount<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xc6b ha y5dcb ff2 fs5 fc3 sc0 ls1 ws1\">BB a<span class=\"_ _0\"></span>nd </td><td></td><td></td><td></td><td class=\"t m0 xcba ha y5dcb ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 xcbb ha y5dcc ff2 fs5 fc3 sc0 ls163 ws171\">AAA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d ha y5dcc ff2 fs5 fc3 sc0 ls163 ws171\">AA<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbc ha y5dcc ff2 fs5 fc3 sc0 ls1 ws1\">A<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6f ha y5dcc ff2 fs5 fc3 sc0 lsaa wsa5\">BBB<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbd ha y5dcc ff2 fs5 fc3 sc0 ls26 wsc6\">below<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbe ha y5dcc ff2 fs5 fc3 sc0 ls11 ws11\">Non-rated<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 ha y5dcc ff2 fs5 fc3 sc0 ls21 ws23\">Unit-linked<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x917 ha y5dcc ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5dcc ff2 fs5 fc3 sc0 ls11 ws11\">held for sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5dcc ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y5dcd ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcc0 ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dcd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dce wdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc74 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc1 y5dce w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc2 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc3 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc4 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc5 y5dce w5ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc6 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc7 y5dce w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc8 y5dce wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcc9 y5dce w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dcf we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcca y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccb y5dcf w5cb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccc y5dcf w14f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">736<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9f y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccd y5dcf wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcce y5dcf w5cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">662<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xccf y5dcf w11a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd0 y5dcf w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd1 y5dcf w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd2 y5dcf w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5dd0 w5ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s</div><div class=\"t m0 xc88 h11 y5b9e ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc89 y5dd0 w5a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd3 y5dd0 w5cd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">34,1<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd4 y5dd0 w5ce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">2<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd5 y5dd0 w3f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">14<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd6 y5dd0 w4b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,<span class=\"_ _0\"></span>933<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd7 y5dd0 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>3<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd8 y5dd0 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd9 y5dd0 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcda y5dd0 w5cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _1\"></span>411<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdb y5dd0 w5d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">9<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>374<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b12 wf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdc y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdd y5b12 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">2,6<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcde y5b12 w5d1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,163<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcdf y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce0 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce1 y5b12 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce2 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce3 y5b12 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4<span class=\"_ _0\"></span>,876<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce4 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce5 y5b12 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4,<span class=\"_ _0\"></span>876<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dd1 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urers\u2019 share of inves<span class=\"_ _0\"></span>tment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5a46 w5c3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">contr<span class=\"_ _0\"></span>act<span class=\"_ gs47\"> </span>liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce6 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce7 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce8 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce9 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcea y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xceb y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcec y5a46 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xced y5a46 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">9<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcee y5a46 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcef y5a46 w5d2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">9,<span class=\"_ _0\"></span>672<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf0 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf1 y5a47 w5d3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>254<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf2 y5a47 w5d4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4,<span class=\"_ _0\"></span>383<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca8 y5a47 w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">88<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaee y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf3 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf4 y5a47 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,495<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf5 y5a47 w1f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf6 y5a47 w1f3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf7 y5a47 w10b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xc89 y5a16 w5a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd3 y5a16 w175 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39,39<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf8 y5a16 w5d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span>452<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf9 y5a16 w4be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14,<span class=\"_ _0\"></span>857<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfa y5a16 w5d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,<span class=\"_ _0\"></span>933<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfb y5a16 w2c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">8,<span class=\"_ _0\"></span>262<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfc y5a16 w5d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">18<span class=\"_ _0\"></span>,27<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfd y5a16 w5d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">119,598<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcfe y5a16 w5d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>49<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcff y5a16 w5da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">118,10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>For fin<span class=\"_ _0\"></span>ancia<span class=\"_ _0\"></span>l ass<span class=\"_ _0\"></span>ets th<span class=\"_ _0\"></span>at do not h<span class=\"_ _0\"></span>ave cre<span class=\"_ _0\"></span>dit rat<span class=\"_ _0\"></span>ings as<span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ed by ex<span class=\"_ _0\"></span>tern<span class=\"_ _0\"></span>al rat<span class=\"_ _0\"></span>ings a<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>ies<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up ass<span class=\"_ _0\"></span>igns in<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l ratin<span class=\"_ _0\"></span>gs for u<span class=\"_ _0\"></span>se in man<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>ment an<span class=\"_ _0\"></span>d moni<span class=\"_ _0\"></span>torin<span class=\"_ _0\"></span>g of credi<span class=\"_ _0\"></span>t risk<span class=\"_ _0\"></span>. \u00a316<span class=\"_ _0\"></span>9 mill<span class=\"_ _0\"></span>ion of AA<span class=\"_ _0\"></span>A<span class=\"_ _0\"></span>, \u00a31<span class=\"_ _0\"></span>,43<span class=\"_ _0\"></span>5 mill<span class=\"_ _0\"></span>ion of A<span class=\"_ _0\"></span>A, \u00a3<span class=\"_ _0\"></span>2,470 mil<span class=\"_ _0\"></span>lion of A<span class=\"_ _0\"></span>, \u00a31<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>9 milli<span class=\"_ _0\"></span>on of BB<span class=\"_ _0\"></span>B and \u00a3247 mi<span class=\"_ _0\"></span>llion of B<span class=\"_ _0\"></span>B and be<span class=\"_ _0\"></span>low deb<span class=\"_ _0\"></span>t sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s are inte<span class=\"_ _0\"></span>rnall<span class=\"_ _0\"></span>y rate<span class=\"_ _0\"></span>d. If a fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l asse<span class=\"_ _0\"></span>t is nei<span class=\"_ _0\"></span>ther r<span class=\"_ _0\"></span>ated by an e<span class=\"_ _0\"></span>xter<span class=\"_ _0\"></span>nal ag<span class=\"_ _0\"></span>enc<span class=\"_ _0\"></span>y nor inte<span class=\"_ _0\"></span>rnal<span class=\"_ _0\"></span>ly rat<span class=\"_ _0\"></span>ed, it i<span class=\"_ _0\"></span>s clas<span class=\"_ _0\"></span>sifie<span class=\"_ _0\"></span>d as \u2018non-<span class=\"_ _0\"></span>rated<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>N<span class=\"_ _0\"></span>on-ra<span class=\"_ _0\"></span>ted de<span class=\"_ _0\"></span>bt sec<span class=\"_ _0\"></span>uritie<span class=\"_ _0\"></span>s incl<span class=\"_ _0\"></span>udes e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y rele<span class=\"_ _0\"></span>ase mo<span class=\"_ _0\"></span>rtg<span class=\"_ _0\"></span>age<span class=\"_ _0\"></span>s with a val<span class=\"_ _0\"></span>ue of \u00a34,<span class=\"_ _0\"></span>48<span class=\"_ _0\"></span>6 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails ar<span class=\"_ _0\"></span>e set ou<span class=\"_ _0\"></span>t in note E2<span class=\"_ _0\"></span>.3) a<span class=\"_ _0\"></span>nd non<span class=\"_ _0\"></span>-rate<span class=\"_ _0\"></span>d bond<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Credit r<span class=\"_ _0\"></span>atings have n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t b<span class=\"_ _0\"></span>een disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e above table<span class=\"_ _0\"></span>s for the ass<span class=\"_ _0\"></span>ets of the unit-linked fun<span class=\"_ _0\"></span>ds since th<span class=\"_ _0\"></span>e shareho<span class=\"_ _0\"></span>lder is not dire<span class=\"_ _0\"></span>ctly expo<span class=\"_ _0\"></span>sed to<span class=\"_ gs47\"> </span>credi<span class=\"_ _0\"></span>t risks from thes<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s. In<span class=\"_ _0\"></span>cluded in unit-linked f<span class=\"_ _0\"></span>unds are as<span class=\"_ _0\"></span>sets whic<span class=\"_ _0\"></span>h are held as rein<span class=\"_ _0\"></span>sured ex<span class=\"_ _0\"></span>ternal fun<span class=\"_ _0\"></span>d links. Un<span class=\"_ _0\"></span>der cer<span class=\"_ _0\"></span>tain circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>shareho<span class=\"_ _0\"></span>lder may be ex<span class=\"_ _0\"></span>posed to l<span class=\"_ _0\"></span>osses re<span class=\"_ _0\"></span>lating to the def<span class=\"_ _0\"></span>ault of the reinsure<span class=\"_ _0\"></span>d exter<span class=\"_ _0\"></span>nal fund link<span class=\"_ _0\"></span>. Credit r<span class=\"_ _0\"></span>atings have n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t b<span class=\"_ _0\"></span>een disc<span class=\"_ _0\"></span>losed in th<span class=\"_ _0\"></span>e above table<span class=\"_ _0\"></span>s for holding<span class=\"_ _0\"></span>s in uncons<span class=\"_ _0\"></span>olidated co<span class=\"_ _0\"></span>llective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nts in as<span class=\"_ _0\"></span>sociates<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>cre<span class=\"_ _0\"></span>dit qualit<span class=\"_ _0\"></span>y of the underl<span class=\"_ _0\"></span>ying debt se<span class=\"_ _0\"></span>curities wi<span class=\"_ _0\"></span>thin these veh<span class=\"_ _0\"></span>icles is man<span class=\"_ _0\"></span>aged by th<span class=\"_ _0\"></span>e safegu<span class=\"_ _0\"></span>ards built into the inves<span class=\"_ _0\"></span>tment mandat<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>hese vehicl<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up maintain<span class=\"_ _0\"></span>s accurate an<span class=\"_ _0\"></span>d consis<span class=\"_ _0\"></span>tent risk ratin<span class=\"_ _0\"></span>gs acros<span class=\"_ _0\"></span>s its as<span class=\"_ _0\"></span>set por<span class=\"_ _0\"></span>tfolio. T<span class=\"_ _0\"></span>his enable<span class=\"_ _0\"></span>s manag<span class=\"_ _0\"></span>ement to foc<span class=\"_ _0\"></span>us on the appli<span class=\"_ _0\"></span>cable ris<span class=\"_ _0\"></span>ks and to<span class=\"_ gs47\"> </span>comp<span class=\"_ _0\"></span>are credit exp<span class=\"_ _0\"></span>osures ac<span class=\"_ _0\"></span>ross all line<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, ge<span class=\"_ _0\"></span>ograph<span class=\"_ _0\"></span>ical reg<span class=\"_ _0\"></span>ions and pro<span class=\"_ _0\"></span>ducts<span class=\"_ _0\"></span>. The ratin<span class=\"_ _0\"></span>g system i<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ted by a variet<span class=\"_ _0\"></span>y of financ<span class=\"_ _0\"></span>ial anal<span class=\"_ _0\"></span>ytic<span class=\"_ _0\"></span>s combine<span class=\"_ _0\"></span>d with market information to p<span class=\"_ _0\"></span>rovide the main inp<span class=\"_ _0\"></span>uts for the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of counterpa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y risk. All ri<span class=\"_ _0\"></span>sk ratings a<span class=\"_ _0\"></span>re tailored to th<span class=\"_ _0\"></span>e variou<span class=\"_ _0\"></span>s categ<span class=\"_ _0\"></span>ories of ass<span class=\"_ _0\"></span>ets and are a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sed an<span class=\"_ _0\"></span>d updated re<span class=\"_ _0\"></span>gularly.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up operate<span class=\"_ _0\"></span>s an Ass<span class=\"_ _0\"></span>et Manag<span class=\"_ _0\"></span>ement Ris<span class=\"_ _0\"></span>k Commit<span class=\"_ _0\"></span>tee, a Ra<span class=\"_ _0\"></span>ting Commi<span class=\"_ _0\"></span>ttee an<span class=\"_ _0\"></span>d a P<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Credit Co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>e to monitor and c<span class=\"_ _0\"></span>ontrol oversig<span class=\"_ _0\"></span>ht o<span class=\"_ _2\"></span>f inte<span class=\"_ _0\"></span>rnal credit r<span class=\"_ _0\"></span>atings for ex<span class=\"_ _0\"></span>ternall<span class=\"_ _0\"></span>y rated and inter<span class=\"_ _0\"></span>nally rated a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s. A variet<span class=\"_ _0\"></span>y of metho<span class=\"_ _0\"></span>ds are use<span class=\"_ _0\"></span>d to validate the app<span class=\"_ _0\"></span>ropriatene<span class=\"_ _0\"></span>ss of credi<span class=\"_ _0\"></span>t asse<span class=\"_ _0\"></span>ssment<span class=\"_ _0\"></span>s from exte<span class=\"_ _0\"></span>rnal inst<span class=\"_ _0\"></span>itutions an<span class=\"_ _0\"></span>d fund man<span class=\"_ _0\"></span>ager<span class=\"_ _0\"></span>s. Interna<span class=\"_ _0\"></span>lly rated as<span class=\"_ _0\"></span>sets are th<span class=\"_ _0\"></span>ose that do n<span class=\"_ _0\"></span>ot have a public ratin<span class=\"_ _0\"></span>g from an ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal credi<span class=\"_ _0\"></span>t rating ag<span class=\"_ _0\"></span>ency (\u2018<span class=\"_ _0\"></span>CRA\u2019) or from e<span class=\"_ _0\"></span>xterna<span class=\"_ _0\"></span>l asset m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>rs (where the m<span class=\"_ _0\"></span>ethodolo<span class=\"_ _0\"></span>gy and fr<span class=\"_ _0\"></span>amework is as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed as b<span class=\"_ _0\"></span>eing CR<span class=\"_ _0\"></span>A compar<span class=\"_ _0\"></span>able). Ins<span class=\"_ _0\"></span>tead, intern<span class=\"_ _0\"></span>al credit r<span class=\"_ _0\"></span>atings are us<span class=\"_ _0\"></span>ed by the Gro<span class=\"_ _0\"></span>up which are provide<span class=\"_ _0\"></span>d by fund man<span class=\"_ _0\"></span>agers o<span class=\"_ _0\"></span>r for cer<span class=\"_ _0\"></span>tain ass<span class=\"_ _0\"></span>ets (in par<span class=\"_ _0\"></span>ticular, equit<span class=\"_ _0\"></span>y relea<span class=\"_ _0\"></span>se mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es and illiquid a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) a<span class=\"_ _0\"></span>re determine<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y t<span class=\"_ _0\"></span>he Life Compani<span class=\"_ _0\"></span>es. The C<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>tees revie<span class=\"_ _0\"></span>w the policie<span class=\"_ _0\"></span>s, proc<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s and pra<span class=\"_ _0\"></span>ctices to e<span class=\"_ _0\"></span>nsure the approp<span class=\"_ _0\"></span>riatenes<span class=\"_ _0\"></span>s of the internal r<span class=\"_ _0\"></span>atings<span class=\"_ _0\"></span>, and to ensure t<span class=\"_ _0\"></span>hey are in line with re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y requirem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>Throu<span class=\"_ _0\"></span>ghout 2024<span class=\"_ _0\"></span>, the Group ha<span class=\"_ _0\"></span>s continue<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>dert<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>ctions to inc<span class=\"_ _0\"></span>rease th<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rall credit qu<span class=\"_ _0\"></span>ality of it<span class=\"_ _0\"></span>s asset p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio and miti<span class=\"_ _0\"></span>gate the impa<span class=\"_ _0\"></span>ct of future dow<span class=\"_ _0\"></span>ngrade<span class=\"_ _0\"></span>s on risk ca<span class=\"_ _0\"></span>pital. Addit<span class=\"_ _0\"></span>ionally, the Group ha<span class=\"_ _0\"></span>s increas<span class=\"_ _0\"></span>ed expo<span class=\"_ _0\"></span>sure to an array of illiquid cre<span class=\"_ _0\"></span>dit ass<span class=\"_ _0\"></span>ets such a<span class=\"_ _0\"></span>s equit<span class=\"_ _0\"></span>y releas<span class=\"_ _0\"></span>e mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es, c<span class=\"_ _0\"></span>ommercia<span class=\"_ _0\"></span>l real est<span class=\"_ _0\"></span>ate loans an<span class=\"_ _0\"></span>d in<span class=\"_ _2\"></span>fr<span class=\"_ _0\"></span>astru<span class=\"_ _0\"></span>cture loan<span class=\"_ _0\"></span>s. This is a<span class=\"_ _0\"></span>s a result of BP<span class=\"_ _2\"></span>A tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions with th<span class=\"_ _0\"></span>e aim of achieving g<span class=\"_ _0\"></span>reater divers<span class=\"_ _0\"></span>ification an<span class=\"_ _0\"></span>d inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment ret<span class=\"_ _0\"></span>urns, c<span class=\"_ _0\"></span>onsiste<span class=\"_ _0\"></span>nt with the Strate<span class=\"_ _0\"></span>gic Ass<span class=\"_ _0\"></span>et Alloc<span class=\"_ _0\"></span>ation and Risk A<span class=\"_ _0\"></span>ppetite approve<span class=\"_ _0\"></span>d by the Board<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A fur<span class=\"_ _0\"></span>ther indic<span class=\"_ _0\"></span>ator of the qualit<span class=\"_ _0\"></span>y of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets is the ex<span class=\"_ _0\"></span>tent to which th<span class=\"_ _0\"></span>ey are neithe<span class=\"_ _0\"></span>r past du<span class=\"_ _0\"></span>e nor impaire<span class=\"_ _0\"></span>d. All of the amo<span class=\"_ _0\"></span>unts in<span class=\"_ gs47\"> </span>the ta<span class=\"_ _0\"></span>ble above for the c<span class=\"_ _0\"></span>urrent and prior ye<span class=\"_ _0\"></span>ar are neithe<span class=\"_ _0\"></span>r past du<span class=\"_ _0\"></span>e nor impaire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Addition<span class=\"_ _0\"></span>al life company a<span class=\"_ _0\"></span>sset dis<span class=\"_ _0\"></span>closures are in<span class=\"_ _0\"></span>cluded o<span class=\"_ _0\"></span>n page 3<span class=\"_ _0\"></span>06 and in<span class=\"_ _0\"></span>clude informat<span class=\"_ _0\"></span>ion on the Group\u2019s market expo<span class=\"_ _0\"></span>sure analys<span class=\"_ _0\"></span>ed by credit ratin<span class=\"_ _0\"></span>g, sec<span class=\"_ _0\"></span>tor and co<span class=\"_ _0\"></span>untry of exp<span class=\"_ _0\"></span>osure for the sh<span class=\"_ _0\"></span>areholde<span class=\"_ _0\"></span>r debt por<span class=\"_ _0\"></span>tfolio.<span class=\"_ _3bd\"> </span>Imp<span class=\"_ _0\"></span>act of c<span class=\"_ _0\"></span>redit ri<span class=\"_ _0\"></span>sk on valu<span class=\"_ _0\"></span>e of finan<span class=\"_ _0\"></span>cial li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies des<span class=\"_ _0\"></span>ignate<span class=\"_ _0\"></span>d at FV<span class=\"_ _0\"></span>TPL<span class=\"_ _3bd\"> </span>The fa<span class=\"_ _0\"></span>ir value of investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts and n<span class=\"_ _0\"></span>et asset va<span class=\"_ _0\"></span>lue attr<span class=\"_ _0\"></span>ibutable to unit<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s liabilities are de<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rmined ba<span class=\"_ _0\"></span>sed upo<span class=\"_ _0\"></span>n the per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e as<span class=\"_ _0\"></span>sets ba<span class=\"_ _0\"></span>cking thos<span class=\"_ _0\"></span>e liabilities<span class=\"_ _0\"></span>. This has th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t that the fair va<span class=\"_ _0\"></span>lue of the liabilit<span class=\"_ _0\"></span>y primaril<span class=\"_ _0\"></span>y reflect<span class=\"_ _0\"></span>s ass<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>specific p<span class=\"_ _0\"></span>erfor<span class=\"_ _0\"></span>mance ris<span class=\"_ _0\"></span>k rather tha<span class=\"_ _0\"></span>n credi<span class=\"_ _0\"></span>t risk. As a re<span class=\"_ _0\"></span>sult, the im<span class=\"_ _0\"></span>pact of cre<span class=\"_ _0\"></span>dit risk on the fa<span class=\"_ _0\"></span>ir value of financi<span class=\"_ _0\"></span>al liabilities de<span class=\"_ _0\"></span>signated a<span class=\"_ _0\"></span>t FV<span class=\"_ _0\"></span>TPL is not con<span class=\"_ _0\"></span>sidered to b<span class=\"_ _0\"></span>e significant<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Co<span class=\"_ _0\"></span>ncent<span class=\"_ _0\"></span>ratio<span class=\"_ _0\"></span>n of cred<span class=\"_ _0\"></span>it risk<span class=\"_ _3bd\"> </span>Con<span class=\"_ _0\"></span>centratio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>redit risk mig<span class=\"_ _0\"></span>ht exist whe<span class=\"_ _0\"></span>re the Group or it<span class=\"_ _0\"></span>s insuran<span class=\"_ _0\"></span>ce subsidia<span class=\"_ _0\"></span>ries has sig<span class=\"_ _0\"></span>nificant exp<span class=\"_ _0\"></span>osure to an individ<span class=\"_ _0\"></span>ual counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y or a<span class=\"_ gs47\"> </span>group of co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties with simil<span class=\"_ _0\"></span>ar<span class=\"_ gs47\"> </span>econ<span class=\"_ _0\"></span>omic chara<span class=\"_ _0\"></span>cteris<span class=\"_ _0\"></span>tics that wo<span class=\"_ _0\"></span>uld caus<span class=\"_ _0\"></span>e their abilit<span class=\"_ _0\"></span>y to mee<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>tual oblig<span class=\"_ _0\"></span>ations to be simil<span class=\"_ _0\"></span>arly affe<span class=\"_ _0\"></span>cted by chan<span class=\"_ _0\"></span>ges in ec<span class=\"_ _0\"></span>onomic an<span class=\"_ _0\"></span>d other<span class=\"_ gs47\"> </span>con<span class=\"_ _0\"></span>ditions. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s most of its c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk within it<span class=\"_ _0\"></span>s lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s and is monitore<span class=\"_ _0\"></span>d by the Group Credit Lim<span class=\"_ _0\"></span>it and Counte<span class=\"_ _0\"></span>rpar<span class=\"_ _0\"></span>ty Framewo<span class=\"_ _0\"></span>rk containe<span class=\"_ _0\"></span>d within the Gro<span class=\"_ _0\"></span>up Credit Risk Polic<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. It is f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r provided for in inves<span class=\"_ _0\"></span>tment man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent agre<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s, overlaid by re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y requirem<span class=\"_ _0\"></span>ents an<span class=\"_ _0\"></span>d the monitorin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>ggreg<span class=\"_ _0\"></span>ate counterp<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y expos<span class=\"_ _0\"></span>ures acros<span class=\"_ _0\"></span>s the Group ag<span class=\"_ _0\"></span>ainst a<span class=\"_ _0\"></span>dditional Group c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>ty lim<span class=\"_ _0\"></span>its. C<span class=\"_ _0\"></span>ounterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y risk in respe<span class=\"_ _0\"></span>ct of over-the-<span class=\"_ _0\"></span>counter de<span class=\"_ _0\"></span>rivative counterp<span class=\"_ _0\"></span>artie<span class=\"_ _0\"></span>s is monitore<span class=\"_ _0\"></span>d using a<span class=\"_ gs47\"> </span>Potential Future E<span class=\"_ _0\"></span>xposure (<span class=\"_ _0\"></span>\u2018PFE\u2019<span class=\"_ _0\"></span>) value metr<span class=\"_ _0\"></span>ic.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is also exp<span class=\"_ _0\"></span>osed to co<span class=\"_ _0\"></span>ncentra<span class=\"_ _0\"></span>tion risk with ou<span class=\"_ _0\"></span>tsourc<span class=\"_ _0\"></span>e partn<span class=\"_ _0\"></span>ers. T<span class=\"_ _0\"></span>he Group op<span class=\"_ _0\"></span>erates a<span class=\"_ gs47\"> </span>poli<span class=\"_ _0\"></span>cy to manag<span class=\"_ _0\"></span>e outs<span class=\"_ _0\"></span>ourcer se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e counterpar<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y expo<span class=\"_ _0\"></span>sures and th<span class=\"_ _0\"></span>e impact fro<span class=\"_ _0\"></span>m default is reviewe<span class=\"_ _0\"></span>d regular<span class=\"_ _0\"></span>ly by executive co<span class=\"_ _0\"></span>mmitte<span class=\"_ _0\"></span>es and me<span class=\"_ _0\"></span>asured th<span class=\"_ _0\"></span>rough stre<span class=\"_ _0\"></span>ss and s<span class=\"_ _0\"></span>cenario te<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Reinsurance<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to credit ri<span class=\"_ _0\"></span>sk as a result of ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k transfer c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts with reins<span class=\"_ _0\"></span>urers. T<span class=\"_ _0\"></span>he Group\u2019s policy is to pl<span class=\"_ _0\"></span>ace reins<span class=\"_ _0\"></span>urance onl<span class=\"_ _0\"></span>y with hig<span class=\"_ _0\"></span>hly rated co<span class=\"_ _0\"></span>unterpar<span class=\"_ _0\"></span>ties. T<span class=\"_ _0\"></span>he Group res<span class=\"_ _0\"></span>trict<span class=\"_ _0\"></span>s concent<span class=\"_ _0\"></span>ration with indiv<span class=\"_ _0\"></span>idual ex<span class=\"_ _0\"></span>ternal reins<span class=\"_ _0\"></span>urers by spe<span class=\"_ _0\"></span>cify<span class=\"_ _0\"></span>ing limits on c<span class=\"_ _0\"></span>eding and m<span class=\"_ _0\"></span>inimum con<span class=\"_ _0\"></span>ditions for ac<span class=\"_ _0\"></span>ceptanc<span class=\"_ _0\"></span>e and retention of re<span class=\"_ _0\"></span>insurers<span class=\"_ _0\"></span>. The Group h<span class=\"_ _0\"></span>as made p<span class=\"_ _0\"></span>rogress in in<span class=\"_ _0\"></span>creasin<span class=\"_ _0\"></span>g the numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f<span class=\"_ gs47\"> </span>re<span class=\"_ _0\"></span>insurers it tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>ts with<span class=\"_ _0\"></span>, however, an elem<span class=\"_ _0\"></span>ent of conce<span class=\"_ _0\"></span>ntration rema<span class=\"_ _0\"></span>ins due to the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce market and th<span class=\"_ _0\"></span>e restric<span class=\"_ _0\"></span>ted rang<span class=\"_ _0\"></span>e of reinsurers ava<span class=\"_ _0\"></span>ilable. The Group m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>s its expo<span class=\"_ _0\"></span>sure to reinsuran<span class=\"_ _0\"></span>ce credit r<span class=\"_ _0\"></span>isk through t<span class=\"_ _0\"></span>he operat<span class=\"_ _0\"></span>ion of a credit poli<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, co<span class=\"_ _0\"></span>llateralisa<span class=\"_ _0\"></span>tion, and re<span class=\"_ _0\"></span>gular mo<span class=\"_ _0\"></span>nitoring of expo<span class=\"_ _0\"></span>sures at the Rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Manag<span class=\"_ _0\"></span>ement C<span class=\"_ _0\"></span>ommitte<span class=\"_ _0\"></span>e and other c<span class=\"_ _0\"></span>redit focu<span class=\"_ _0\"></span>sed com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Collatera<span class=\"_ _0\"></span>l<span class=\"_ _3bd\"> </span>The cre<span class=\"_ _0\"></span>dit risk of the Gro<span class=\"_ _0\"></span>up is mitigate<span class=\"_ _0\"></span>d, in cer<span class=\"_ _0\"></span>tain circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces<span class=\"_ _0\"></span>, by entering into colla<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ral agre<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span>. The am<span class=\"_ _0\"></span>ount and t<span class=\"_ _0\"></span>ype of collater<span class=\"_ _0\"></span>al require<span class=\"_ _0\"></span>d depen<span class=\"_ _0\"></span>ds on an as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of the credi<span class=\"_ _0\"></span>t risk of the counte<span class=\"_ _0\"></span>rpart<span class=\"_ _0\"></span>y. Guideline<span class=\"_ _0\"></span>s are impleme<span class=\"_ _0\"></span>nted reg<span class=\"_ _0\"></span>arding the ac<span class=\"_ _0\"></span>ceptabilit<span class=\"_ _0\"></span>y of t<span class=\"_ _0\"></span>ypes of collate<span class=\"_ _0\"></span>ral and the va<span class=\"_ _0\"></span>luation par<span class=\"_ _0\"></span>ameters<span class=\"_ _0\"></span>. Collate<span class=\"_ _0\"></span>ral is mainly o<span class=\"_ _0\"></span>btained in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>tock len<span class=\"_ _0\"></span>ding, ce<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>in reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s and to provide se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>y agains<span class=\"_ _0\"></span>t the daily ma<span class=\"_ _0\"></span>rk to model val<span class=\"_ _0\"></span>ue of derivative finan<span class=\"_ _0\"></span>cial ins<span class=\"_ _0\"></span>truments<span class=\"_ _0\"></span>. Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt monitors th<span class=\"_ _0\"></span>e market value of the co<span class=\"_ _0\"></span>llateral rec<span class=\"_ _0\"></span>eived, requ<span class=\"_ _0\"></span>ests a<span class=\"_ _0\"></span>dditional c<span class=\"_ _0\"></span>ollateral wh<span class=\"_ _0\"></span>en nee<span class=\"_ _0\"></span>ded, an<span class=\"_ _0\"></span>d perfor<span class=\"_ _0\"></span>ms an impairm<span class=\"_ _0\"></span>ent valuation wh<span class=\"_ _0\"></span>en impairme<span class=\"_ _0\"></span>nt indicator<span class=\"_ _0\"></span>s exist<span class=\"_ _0\"></span>. See<span class=\"_ gs47\"> </span>note E4 for fur<span class=\"_ _0\"></span>ther informati<span class=\"_ _2\"></span>on on collateral arrangem<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-649": {
   "value": "E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>2 Market ris<span class=\"_ _0\"></span>k<span class=\"_ _3bd\"> </span>Market risk i<span class=\"_ _0\"></span>s the risk of los<span class=\"_ _0\"></span>s or of adverse c<span class=\"_ _0\"></span>hange in th<span class=\"_ _0\"></span>e financial s<span class=\"_ _0\"></span>ituation res<span class=\"_ _0\"></span>ulting, dire<span class=\"_ _0\"></span>ctly or in<span class=\"_ _0\"></span>directly, from fluc<span class=\"_ _0\"></span>tuation<span class=\"_ _0\"></span>s in the level and in th<span class=\"_ _0\"></span>e volatilit<span class=\"_ _0\"></span>y of market price<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s, liabiliti<span class=\"_ _0\"></span>es and finan<span class=\"_ _0\"></span>cial inst<span class=\"_ _0\"></span>ruments<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>risk t<span class=\"_ _0\"></span>ypic<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from exposure to e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and fixe<span class=\"_ _0\"></span>d income as<span class=\"_ _0\"></span>set clas<span class=\"_ _0\"></span>ses and th<span class=\"_ _0\"></span>e impact of ch<span class=\"_ _0\"></span>anges in inte<span class=\"_ _0\"></span>rest rate<span class=\"_ _0\"></span>s, inflatio<span class=\"_ _0\"></span>n rates and cur<span class=\"_ _0\"></span>rency exch<span class=\"_ _0\"></span>ange rate<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is mainly ex<span class=\"_ _0\"></span>posed to m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk as a result of<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the m<span class=\"_ _0\"></span>ismatch bet<span class=\"_ _0\"></span>ween li<span class=\"_ _0\"></span>ability p<span class=\"_ _0\"></span>rofiles and the re<span class=\"_ _0\"></span>lated as<span class=\"_ _0\"></span>set investm<span class=\"_ _0\"></span>ent por<span class=\"_ _0\"></span>tfolios<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the inves<span class=\"_ _0\"></span>tment of as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld to meet re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capit<span class=\"_ _0\"></span>al and solve<span class=\"_ _0\"></span>ncy require<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the inves<span class=\"_ _0\"></span>tment of surp<span class=\"_ _0\"></span>lus asse<span class=\"_ _0\"></span>ts inclu<span class=\"_ _0\"></span>ding shareh<span class=\"_ _0\"></span>older res<span class=\"_ _0\"></span>erves yet to b<span class=\"_ _0\"></span>e distribute<span class=\"_ _0\"></span>d, surplu<span class=\"_ _0\"></span>s asset<span class=\"_ _0\"></span>s within the with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds and as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld to mee<span class=\"_ _0\"></span>t regulator<span class=\"_ _0\"></span>y cap<span class=\"_ _0\"></span>ital and s<span class=\"_ _0\"></span>olvency re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the in<span class=\"_ _0\"></span>come flow of ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent charg<span class=\"_ _0\"></span>es derived f<span class=\"_ _0\"></span>rom the value of investe<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>ts of the busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up manag<span class=\"_ _0\"></span>es the levels of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk that it ac<span class=\"_ _0\"></span>cepts thro<span class=\"_ _0\"></span>ugh the op<span class=\"_ _0\"></span>eration of a market risk p<span class=\"_ _0\"></span>olicy usin<span class=\"_ _0\"></span>g a number of cont<span class=\"_ _0\"></span>rols and tech<span class=\"_ _0\"></span>niques incl<span class=\"_ _0\"></span>uding:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>defin<span class=\"_ _0\"></span>ed list<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ermit<span class=\"_ _0\"></span>ted sec<span class=\"_ _0\"></span>urities and<span class=\"_ _0\"></span>/<span class=\"_ _4\"></span>or app<span class=\"_ _0\"></span>lication of invest<span class=\"_ _0\"></span>ment cons<span class=\"_ _0\"></span>traints an<span class=\"_ _0\"></span>d por<span class=\"_ _0\"></span>tfolio limit<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls13 ws14\">clearly defined investment benchm<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>s for policyholder and shareholde<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span> f<span class=\"_ _0\"></span>u<span class=\"_ _2\"></span>nds<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>s<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>chas<span class=\"_ _0\"></span>tic and determin<span class=\"_ _0\"></span>istic as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility m<span class=\"_ _0\"></span>odelling;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ac<span class=\"_ _0\"></span>tive use of derivat<span class=\"_ _0\"></span>ives to improve the match<span class=\"_ _0\"></span>ing chara<span class=\"_ _0\"></span>cteris<span class=\"_ _0\"></span>tics of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities and to re<span class=\"_ _0\"></span>duce the ri<span class=\"_ _0\"></span>sk exposure of a p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>set<span class=\"_ _0\"></span>ting ris<span class=\"_ _0\"></span>k limits for main m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et r<span class=\"_ _0\"></span>isks and man<span class=\"_ _0\"></span>aging exp<span class=\"_ _0\"></span>osures ag<span class=\"_ _0\"></span>ainst th<span class=\"_ _0\"></span>ese appe<span class=\"_ _0\"></span>tites.<span class=\"_ _3bd\"> </span>All ope<span class=\"_ _0\"></span>rations co<span class=\"_ _0\"></span>mply with reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y requireme<span class=\"_ _0\"></span>nts relatin<span class=\"_ _0\"></span>g to the taking of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ris<span class=\"_ _0\"></span>k.<span class=\"_ _3bd\"> </span>As<span class=\"_ _0\"></span>sets in the s<span class=\"_ _0\"></span>harehold<span class=\"_ _0\"></span>er funds are m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d again<span class=\"_ _0\"></span>st benc<span class=\"_ _0\"></span>hmarks that e<span class=\"_ _0\"></span>nsure they are dive<span class=\"_ _0\"></span>rsified a<span class=\"_ _0\"></span>cross a ra<span class=\"_ _0\"></span>nge of ass<span class=\"_ _0\"></span>et clas<span class=\"_ _0\"></span>ses, in<span class=\"_ _0\"></span>strume<span class=\"_ _0\"></span>nts and ge<span class=\"_ _0\"></span>ographi<span class=\"_ _0\"></span>es that are app<span class=\"_ _0\"></span>ropriate to the liabili<span class=\"_ _0\"></span>ties of the fund<span class=\"_ _0\"></span>s or are held to matc<span class=\"_ _0\"></span>h the cash fl<span class=\"_ _0\"></span>ows anticipate<span class=\"_ _0\"></span>d to arise in the b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>. A combin<span class=\"_ _0\"></span>ation of limits by n<span class=\"_ _0\"></span>ame of issue<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, se<span class=\"_ _0\"></span>ctor<span class=\"_ _2\"></span>, ge<span class=\"_ _0\"></span>ograp<span class=\"_ _0\"></span>hical re<span class=\"_ _0\"></span>gion and cre<span class=\"_ _0\"></span>dit rating are us<span class=\"_ _0\"></span>ed where re<span class=\"_ _0\"></span>levant to reduc<span class=\"_ _0\"></span>e conce<span class=\"_ _0\"></span>ntration risk am<span class=\"_ _0\"></span>ong the as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld.<span class=\"_ _3bd\"> </span>The as<span class=\"_ _0\"></span>sets of th<span class=\"_ _0\"></span>e parti<span class=\"_ _0\"></span>cipating bus<span class=\"_ _0\"></span>iness are p<span class=\"_ _0\"></span>rincipally m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d to suppor<span class=\"_ _0\"></span>t the liabilit<span class=\"_ _0\"></span>ies of the par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s and are app<span class=\"_ _0\"></span>ropriately divers<span class=\"_ _0\"></span>ified by<span class=\"_ gs47\"> </span>both as<span class=\"_ _0\"></span>set clas<span class=\"_ _0\"></span>s and ge<span class=\"_ _0\"></span>ograp<span class=\"_ _0\"></span>h<span class=\"_ _2\"></span>y, cons<span class=\"_ _0\"></span>idering:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the e<span class=\"_ _0\"></span>conom<span class=\"_ _0\"></span>ic liabilit<span class=\"_ _0\"></span>y and how this vari<span class=\"_ _0\"></span>es with market con<span class=\"_ _0\"></span>ditions;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the n<span class=\"_ _0\"></span>eed to inves<span class=\"_ _0\"></span>t asset<span class=\"_ _0\"></span>s suppor<span class=\"_ _0\"></span>ting pa<span class=\"_ _0\"></span>rticipa<span class=\"_ _0\"></span>ting busine<span class=\"_ _0\"></span>ss in a mann<span class=\"_ _0\"></span>er consis<span class=\"_ _0\"></span>tent with the p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ating polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s\u2019 reason<span class=\"_ _0\"></span>able expe<span class=\"_ _0\"></span>ctation<span class=\"_ _0\"></span>s and Prin<span class=\"_ _0\"></span>ciples and Pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>es of Financi<span class=\"_ _0\"></span>al Manag<span class=\"_ _0\"></span>ement (<span class=\"_ _0\"></span>\u2018PPFM<span class=\"_ _0\"></span>\u2019)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the n<span class=\"_ _0\"></span>eed to en<span class=\"_ _0\"></span>sure that reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y and capit<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents are me<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>In pra<span class=\"_ _0\"></span>ctice, a<span class=\"_ _0\"></span>n element of m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk arises a<span class=\"_ _0\"></span>s a conse<span class=\"_ _0\"></span>quence of th<span class=\"_ _0\"></span>e need to b<span class=\"_ _0\"></span>alance th<span class=\"_ _0\"></span>ese con<span class=\"_ _0\"></span>sideration<span class=\"_ _0\"></span>s, for exam<span class=\"_ _0\"></span>ple, in cer<span class=\"_ _0\"></span>tain ins<span class=\"_ _0\"></span>tanc<span class=\"_ _0\"></span>es par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g policyh<span class=\"_ _0\"></span>olders m<span class=\"_ _0\"></span>ay expec<span class=\"_ _0\"></span>t that equit<span class=\"_ _0\"></span>y market risk will b<span class=\"_ _0\"></span>e taken on their b<span class=\"_ _0\"></span>ehalf, and deriv<span class=\"_ _0\"></span>ative instrum<span class=\"_ _0\"></span>ents may b<span class=\"_ _0\"></span>e used to manage these<span class=\"_ _2\"></span> risks.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4df\">Markets re<span class=\"_ _0\"></span>tain the potent<span class=\"_ _0\"></span>ial to be volatile pa<span class=\"_ _0\"></span>rticul<span class=\"_ _0\"></span>arly given ge<span class=\"_ _0\"></span>opolitic<span class=\"_ _0\"></span>al inst<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, with es<span class=\"_ _0\"></span>calation of re<span class=\"_ _0\"></span>gional c<span class=\"_ _0\"></span>onflicts a<span class=\"_ _0\"></span>nd increa<span class=\"_ _0\"></span>sing protec<span class=\"_ _0\"></span>tionist </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4e0\">polic<span class=\"_ _0\"></span>ies able to resul<span class=\"_ _0\"></span>t in increas<span class=\"_ _0\"></span>ed inflation<span class=\"_ _0\"></span>ary pre<span class=\"_ _0\"></span>ssures d<span class=\"_ _0\"></span>ue to global p<span class=\"_ _0\"></span>olicy chan<span class=\"_ _0\"></span>ges and s<span class=\"_ _0\"></span>upply chan<span class=\"_ _0\"></span>ge disrupti<span class=\"_ _0\"></span>on. More de<span class=\"_ _0\"></span>tail is<span class=\"_ gs47\"> </span>covered w<span class=\"_ _0\"></span>ithin </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4e1\">the Prin<span class=\"_ _0\"></span>cipal Risks se<span class=\"_ _0\"></span>ction wit<span class=\"_ _0\"></span>hin the Group\u2019s Annual Re<span class=\"_ _0\"></span>port a<span class=\"_ _0\"></span>nd Acco<span class=\"_ _0\"></span>unts. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs4e2\">Inte<span class=\"_ _0\"></span>rest r<span class=\"_ _0\"></span>ate and i<span class=\"_ _0\"></span>nflatio<span class=\"_ _0\"></span>n risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4e3\">Interes<span class=\"_ _0\"></span>t rate risk is th<span class=\"_ _0\"></span>e risk that the f<span class=\"_ _0\"></span>air value of future c<span class=\"_ _0\"></span>ash flows of a fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument will fl<span class=\"_ _0\"></span>uctuate rel<span class=\"_ _0\"></span>ative to the respe<span class=\"_ _0\"></span>ctive liabilit<span class=\"_ _0\"></span>y due to th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4e4\">impac<span class=\"_ _0\"></span>t of chang<span class=\"_ _0\"></span>es in market interes<span class=\"_ _0\"></span>t rates on the val<span class=\"_ _0\"></span>ue of interest-be<span class=\"_ _0\"></span>aring as<span class=\"_ _0\"></span>sets and o<span class=\"_ _0\"></span>n the value of fut<span class=\"_ _0\"></span>ure guarante<span class=\"_ _0\"></span>es provided un<span class=\"_ _0\"></span>der cer<span class=\"_ _0\"></span>tain </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4e5\">contr<span class=\"_ _0\"></span>acts of ins<span class=\"_ _0\"></span>urance. T<span class=\"_ _0\"></span>he parag<span class=\"_ _0\"></span>raphs in this s<span class=\"_ _0\"></span>ection a<span class=\"_ _0\"></span>lso apply to infl<span class=\"_ _0\"></span>ation risk<span class=\"_ _0\"></span>, but referenc<span class=\"_ _0\"></span>es to fixed rate as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liabilities wo<span class=\"_ _0\"></span>uld be repla<span class=\"_ _0\"></span>ced </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4e6\">with ind<span class=\"_ _0\"></span>ex-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4e7\">The Gro<span class=\"_ _0\"></span>up is require<span class=\"_ _0\"></span>d to manage i<span class=\"_ _0\"></span>ts interes<span class=\"_ _0\"></span>t rate exposure<span class=\"_ _0\"></span>s in line with quali<span class=\"_ _0\"></span>tative risk app<span class=\"_ _0\"></span>etite state<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>, quantitat<span class=\"_ _0\"></span>ive risk metric<span class=\"_ _0\"></span>s and any addi<span class=\"_ _0\"></span>tional </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4e8\">hed<span class=\"_ _0\"></span>ging ben<span class=\"_ _0\"></span>chmarks<span class=\"_ _0\"></span>. Interest r<span class=\"_ _0\"></span>ate risk is man<span class=\"_ _0\"></span>aged by m<span class=\"_ _0\"></span>atching as<span class=\"_ _0\"></span>sets and li<span class=\"_ _0\"></span>abilities whe<span class=\"_ _0\"></span>re practi<span class=\"_ _0\"></span>cable an<span class=\"_ _0\"></span>d by entering into deriv<span class=\"_ _0\"></span>ative arrang<span class=\"_ _0\"></span>ements<span class=\"_ _0\"></span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4e9\">for he<span class=\"_ _0\"></span>dging purp<span class=\"_ _0\"></span>oses whe<span class=\"_ _0\"></span>re appropriate<span class=\"_ _0\"></span>. This is par<span class=\"_ _0\"></span>ticularl<span class=\"_ _0\"></span>y the case fo<span class=\"_ _0\"></span>r the non-pa<span class=\"_ _0\"></span>rticip<span class=\"_ _0\"></span>ating funds an<span class=\"_ _0\"></span>d suppor<span class=\"_ _0\"></span>ted par<span class=\"_ _0\"></span>ticipat<span class=\"_ _0\"></span>ing funds<span class=\"_ _0\"></span>. The market </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4ea\">risks ari<span class=\"_ _0\"></span>sing from par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s are born prim<span class=\"_ _0\"></span>arily by the with<span class=\"_ _0\"></span>-profits poli<span class=\"_ _0\"></span>cyholde<span class=\"_ _0\"></span>rs. M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et ri<span class=\"_ _0\"></span>sk exposure<span class=\"_ _0\"></span>s, incl<span class=\"_ _0\"></span>uding the exp<span class=\"_ _0\"></span>osure to interes<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4eb\">rate risk<span class=\"_ _0\"></span>, are set with t<span class=\"_ _0\"></span>he aims of (i) ensur<span class=\"_ _0\"></span>ing that the wit<span class=\"_ _0\"></span>h-profits fun<span class=\"_ _0\"></span>ds are stron<span class=\"_ _0\"></span>g enough to h<span class=\"_ _0\"></span>onour gu<span class=\"_ _0\"></span>arantees a<span class=\"_ _0\"></span>nd to smooth inves<span class=\"_ _0\"></span>tment retur<span class=\"_ _0\"></span>ns, an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4ec\">(ii) to optimis<span class=\"_ _0\"></span>e the risks and ret<span class=\"_ _0\"></span>urns for with-profi<span class=\"_ _0\"></span>ts polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s, takin<span class=\"_ _0\"></span>g into acco<span class=\"_ _0\"></span>unt previous unde<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>kings ma<span class=\"_ _0\"></span>de to policyh<span class=\"_ _0\"></span>olders a<span class=\"_ _0\"></span>s well as leg<span class=\"_ _0\"></span>al and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4ed\">reg<span class=\"_ _0\"></span>ulatory re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s.. In p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e, the life comp<span class=\"_ _0\"></span>anies of the Gro<span class=\"_ _0\"></span>up maintain an<span class=\"_ gs47\"> </span>ap<span class=\"_ _0\"></span>propriate mix of fixe<span class=\"_ _0\"></span>d and variab<span class=\"_ _0\"></span>le rate instr<span class=\"_ _0\"></span>uments ac<span class=\"_ _0\"></span>cording to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4ee\">the und<span class=\"_ _0\"></span>erlying ins<span class=\"_ _0\"></span>urance or inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s and will review thi<span class=\"_ _0\"></span>s at regular inte<span class=\"_ _0\"></span>rvals to en<span class=\"_ _0\"></span>sure that overall e<span class=\"_ _0\"></span>xposure is kept within th<span class=\"_ _0\"></span>e risk profile </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls17f ws1 gs4ef\">agre<span class=\"_ _0\"></span>ed for eac<span class=\"_ _0\"></span>h part<span class=\"_ _0\"></span>icular fund<span class=\"_ _0\"></span>. This also re<span class=\"_ _0\"></span>quires the ma<span class=\"_ _0\"></span>turity p<span class=\"_ _0\"></span>rofile of these as<span class=\"_ _0\"></span>sets to<span class=\"_ gs47\"> </span>b<span class=\"_ _0\"></span>e manag<span class=\"_ _0\"></span>ed in line with th<span class=\"_ _0\"></span>e liabilities to po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>ers.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls5e ws1 gs4f0\">The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis for interest r<span class=\"_ _0\"></span>ate and inflation r<span class=\"_ _0\"></span>isk indicate<span class=\"_ _0\"></span>s how chan<span class=\"_ _0\"></span>ges in the fair va<span class=\"_ _0\"></span>lue or future c<span class=\"_ _0\"></span>ash flows of a fina<span class=\"_ _0\"></span>ncial ins<span class=\"_ _0\"></span>trument ari<span class=\"_ _0\"></span>sing from </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls5e ws1 gs4f1\">chan<span class=\"_ _0\"></span>ges in mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et intere<span class=\"_ _0\"></span>st and inflat<span class=\"_ _0\"></span>ion rates at the re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing date result in a ch<span class=\"_ _0\"></span>ange in profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x, eq<span class=\"_ _0\"></span>uity an<span class=\"_ _0\"></span>d CSM<span class=\"_ _0\"></span>. It takes into acc<span class=\"_ _0\"></span>ount the ef<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ct </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls5e ws1 gs4f2\">of such ch<span class=\"_ _0\"></span>anges in m<span class=\"_ _0\"></span>arket interest an<span class=\"_ _0\"></span>d inflation rates o<span class=\"_ _0\"></span>n all asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies that contr<span class=\"_ _0\"></span>ibute to the Group\u2019s repor<span class=\"_ _0\"></span>ted profit af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x and in equit<span class=\"_ _0\"></span>y.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f3\">With-p<span class=\"_ _0\"></span>rofits busin<span class=\"_ _0\"></span>ess and n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g busines<span class=\"_ _0\"></span>s within the with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds are expos<span class=\"_ _0\"></span>ed to interes<span class=\"_ _0\"></span>t rate risk as gu<span class=\"_ _0\"></span>arantee<span class=\"_ _0\"></span>d liabilities are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f4\">value<span class=\"_ _0\"></span>d relative to market interes<span class=\"_ _0\"></span>t rates and inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s include fixe<span class=\"_ _0\"></span>d interest s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and derivat<span class=\"_ _0\"></span>ives. For uns<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>ted with-profit<span class=\"_ _0\"></span>s busine<span class=\"_ _0\"></span>ss the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f5\">profit or lo<span class=\"_ _0\"></span>ss arising f<span class=\"_ _0\"></span>rom mismatch<span class=\"_ _0\"></span>es bet<span class=\"_ _0\"></span>ween suc<span class=\"_ _0\"></span>h asset<span class=\"_ _0\"></span>s and liabilitie<span class=\"_ _0\"></span>s is largel<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>fset by in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d or reduc<span class=\"_ _0\"></span>ed discret<span class=\"_ _0\"></span>ionar<span class=\"_ _0\"></span>y policyh<span class=\"_ _0\"></span>older </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f6\">ben<span class=\"_ _0\"></span>efits dep<span class=\"_ _0\"></span>endent on th<span class=\"_ _0\"></span>e existen<span class=\"_ _0\"></span>ce of policyh<span class=\"_ _0\"></span>older gu<span class=\"_ _0\"></span>arantees<span class=\"_ _0\"></span>. The cont<span class=\"_ _0\"></span>ribution of unsup<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d part<span class=\"_ _0\"></span>icipating bu<span class=\"_ _0\"></span>siness to th<span class=\"_ _0\"></span>e Group result i<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f7\">large<span class=\"_ _0\"></span>ly limited to the s<span class=\"_ _0\"></span>harehol<span class=\"_ _0\"></span>ders\u2019 share of bo<span class=\"_ _0\"></span>nuses<span class=\"_ _0\"></span>. The contr<span class=\"_ _0\"></span>ibution of the sup<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>ticipating bu<span class=\"_ _0\"></span>siness to th<span class=\"_ _0\"></span>e Group result i<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f8\">in<span class=\"_ gs47\"> </span>line with I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>, which exp<span class=\"_ _0\"></span>oses th<span class=\"_ _0\"></span>e sharehol<span class=\"_ _0\"></span>der to chan<span class=\"_ _0\"></span>ges in the val<span class=\"_ _0\"></span>ue of the liabilities b<span class=\"_ _0\"></span>acked by share<span class=\"_ _0\"></span>holder as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd the value of c<span class=\"_ _0\"></span>apital </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4f9\">advan<span class=\"_ _0\"></span>ced to the wi<span class=\"_ _0\"></span>th-profits f<span class=\"_ _0\"></span>unds. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4fa\">In the n<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating f<span class=\"_ _0\"></span>unds, p<span class=\"_ _0\"></span>olicy liabilit<span class=\"_ _0\"></span>ies\u2019 sensiti<span class=\"_ _0\"></span>vity to intere<span class=\"_ _0\"></span>st rates are m<span class=\"_ _0\"></span>atched pr<span class=\"_ _0\"></span>imarily with de<span class=\"_ _0\"></span>bt securit<span class=\"_ _0\"></span>ies and he<span class=\"_ _0\"></span>dging if ne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4fb\">match d<span class=\"_ _0\"></span>uration on a reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y basis for the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s S<span class=\"_ _0\"></span>olvency I<span class=\"_ _0\"></span>I position<span class=\"_ _0\"></span>, with the res<span class=\"_ _0\"></span>ult that sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y to chang<span class=\"_ _0\"></span>es in interest r<span class=\"_ _0\"></span>ates is ver<span class=\"_ _0\"></span>y low<span class=\"_ _2\"></span>. T<span class=\"_ _0\"></span>he </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4fc\">Group\u2019s expos<span class=\"_ _0\"></span>ure to interest rate<span class=\"_ _0\"></span>s on an IFRS b<span class=\"_ _0\"></span>asis princip<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from the Group\u2019s hedg<span class=\"_ _0\"></span>ing strate<span class=\"_ _0\"></span>gy to protec<span class=\"_ _0\"></span>t the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>osition, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4fd\">which re<span class=\"_ _0\"></span>sults in an ad<span class=\"_ _0\"></span>verse impa<span class=\"_ _0\"></span>ct on profit on a<span class=\"_ _0\"></span>n increas<span class=\"_ _0\"></span>e in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest rate<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4fe\">The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to inflation ris<span class=\"_ _0\"></span>k through c<span class=\"_ _0\"></span>erta<span class=\"_ _0\"></span>in contrac<span class=\"_ _0\"></span>ts, s<span class=\"_ _0\"></span>uch as annu<span class=\"_ _0\"></span>ities, wh<span class=\"_ _0\"></span>ich may provide for f<span class=\"_ _0\"></span>uture benefi<span class=\"_ _0\"></span>ts to be paid t<span class=\"_ _0\"></span>aking ac<span class=\"_ _0\"></span>count </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs4ff\">of chan<span class=\"_ _0\"></span>ges in the leve<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>ed and imp<span class=\"_ _0\"></span>lied inflation<span class=\"_ _0\"></span>, and als<span class=\"_ _0\"></span>o through th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ost bas<span class=\"_ _0\"></span>e. The Group s<span class=\"_ _0\"></span>eeks to man<span class=\"_ _0\"></span>age inflati<span class=\"_ _0\"></span>on risk within </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs500\">the ALM fr<span class=\"_ _0\"></span>amework thro<span class=\"_ _0\"></span>ugh the hol<span class=\"_ _0\"></span>ding of derivatives<span class=\"_ _0\"></span>, such a<span class=\"_ _0\"></span>s inflation swap<span class=\"_ _0\"></span>s, or physic<span class=\"_ _0\"></span>al posit<span class=\"_ _0\"></span>ions in relevant a<span class=\"_ _0\"></span>ssets<span class=\"_ _0\"></span>, such a<span class=\"_ _0\"></span>s index-linked gilt<span class=\"_ _0\"></span>s, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lse wse gs501\">where appropri<span class=\"_ _2\"></span>ate.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs502\">The intere<span class=\"_ _0\"></span>st rate se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y reflec<span class=\"_ _0\"></span>ts a 10<span class=\"_ _0\"></span>0bps ch<span class=\"_ _0\"></span>ange in ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-free yie<span class=\"_ _0\"></span>lds at eac<span class=\"_ _0\"></span>h time step on th<span class=\"_ _0\"></span>e risk-<span class=\"_ _2\"></span>fre<span class=\"_ _0\"></span>e curve ap<span class=\"_ _0\"></span>plied to as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities as at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs503\">the ba<span class=\"_ _0\"></span>lance sh<span class=\"_ _0\"></span>eet date.<span class=\"_ gs47\"> </span> Th<span class=\"_ _0\"></span>e illiquidit<span class=\"_ _0\"></span>y premium use<span class=\"_ _0\"></span>d in the mea<span class=\"_ _0\"></span>surement of ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, and a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, as an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs504\">addit<span class=\"_ _0\"></span>ion to the risk-free cur<span class=\"_ _0\"></span>ve does not c<span class=\"_ _0\"></span>hange a<span class=\"_ _0\"></span>s a result of this se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs505\"><table class=\"s w5db h24f\" id=\"_ab27d388-f861-4984-944f-7a8f5f85a781\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5dd2 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5dd2 w5dc h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa31 h29 y5dd3 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5dd3 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3ba h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit  </td><td class=\"t m0 x2e5 h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff h29 y5dd4 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5dd4 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5dd4 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5dd4 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 x936 h29 y5dd5 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd05 h29 y5dd5 ff3 fs5 fc3 sc0 ls22 ws24\">after tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd06 h29 y5dd5 ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5dd5 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xd08 ha y5dd5 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5dd5 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5dd5 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa2c h29 y5dd6 ff3 fs5 fc3 sc0 ls22 ws24\">interest rate<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5dd6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dd6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5dd7 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd09 y5dd7 w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0a y5dd7 w5df h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,717<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0b y5dd7 w5e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,717<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0c y5dd7 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0d y5dd7 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,9<span class=\"_ _0\"></span>46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0e y5dd7 w1a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>946<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd0f y5dd7 w204 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dd8 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd10 y5dd8 w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd11 y5dd8 w5e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd12 y5dd8 w5e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd13 y5dd8 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd14 y5dd8 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>935<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd15 y5dd8 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>935<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd16 y5dd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5dd9 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5dda w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd17 y5dda w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd18 y5dda w5e6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd19 y5dda w5e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3,<span class=\"_ _0\"></span>991<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1a y5dda we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1b y5dda w1f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4,3<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1c y5dda w1f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4,3<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1d y5dda wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5ddb ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ddc w5e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">inv<span class=\"_ _2\"></span>estment con<span class=\"_ _2\"></span>tract without<span class=\"_ _2\"></span> DPF balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1e y5ddc w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd1f y5ddc w5e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,095<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd20 y5ddc w5ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,0<span class=\"_ _0\"></span>95)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd21 y5ddc w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd22 y5ddc w31c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd23 y5ddc w31c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>934)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd24 y5ddc wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ddd w5eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd25 y5ddd w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd26 y5ddd w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd27 y5ddd w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(168)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd28 y5ddd we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd29 y5ddd w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>222)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2a y5ddd w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>222)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2b y5ddd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dde w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2c y5dde w5de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2d y5dde w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x981 y5dde w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2e y5dde w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2f y5dde wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd30 y5dde w4b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">2<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd31 y5dde wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x934 y5ddf w5ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(4<span class=\"_ _0\"></span>40)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd32 y5ddf w5ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>313)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd33 y5ddf w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd34 y5ddf w1e9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(60<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd35 y5ddf w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(3<span class=\"_ _0\"></span>35)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd36 y5ddf w1b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5de0 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd37 y5de0 w5ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd38 y5de0 w5f0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4<span class=\"_ _0\"></span>,493)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd39 y5de0 w279 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4<span class=\"_ _0\"></span>,49<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3a y5de0 w1d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3b y5de0 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>821<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3c y5de0 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>821<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3d y5de0 w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5de1 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3e y5de1 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd3f y5de1 w5f3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>431<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd40 y5de1 w5f3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>431<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd41 y5de1 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd42 y5de1 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>216<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd43 y5de1 w5f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>216<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd44 y5de1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5de2 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5de3 w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd45 y5de3 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd46 y5de3 w59d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,885<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd47 y5de3 w144 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">4,8<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd48 y5de3 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4db y5de3 w5f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">5,<span class=\"_ _0\"></span>390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd49 y5de3 w442 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">5,<span class=\"_ _0\"></span>390<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b8 y5de3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5de4 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to intere<span class=\"_ _0\"></span>st rate risk b<span class=\"_ _0\"></span>acking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5de5 w5e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">inv<span class=\"_ _2\"></span>estment con<span class=\"_ _2\"></span>tract without<span class=\"_ _2\"></span> DPF balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4a y5de5 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4b y5de5 w5f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>428<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4c y5de5 w5f6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>428<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4d y5de5 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4e y5de5 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,21<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd4f y5de5 w148 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>215<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd50 y5de5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c34 w5eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to interes<span class=\"_ _0\"></span>t rate risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd51 y5c34 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd52 y5c34 w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd53 y5c34 w4f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd54 y5c34 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd55 y5c34 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd56 y5c34 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd57 y5c34 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd58 y5b43 w5f7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd59 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5a y5b43 w1f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(155<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5b y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5c y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5d y5b43 w5ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>338)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5e y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x928 y5b4c w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">558<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5f y5b4c w169 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">403<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd60 y5b4c w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd61 y5b4c w24a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd62 y5b4c w240 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">452<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd63 y5b4c w1b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs506\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>.<span class=\"_ _3bd\"> </span></div>The infl<span class=\"_ _0\"></span>ation sensi<span class=\"_ _0\"></span>tivity refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s a 100<span class=\"_ _0\"></span>bps chan<span class=\"_ _0\"></span>ge in future infl<span class=\"_ _0\"></span>ation rates at e<span class=\"_ _0\"></span>ach time s<span class=\"_ _0\"></span>tep on the inflatio<span class=\"_ _0\"></span>n curve, w<span class=\"_ _0\"></span>ith no chan<span class=\"_ _0\"></span>ge in the risk-free interes<span class=\"_ _0\"></span>t rate cur<span class=\"_ _0\"></span>ve. The illiquidit<span class=\"_ _0\"></span>y premium u<span class=\"_ _0\"></span>sed in the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, and ass<span class=\"_ _0\"></span>ociated re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, as an additio<span class=\"_ _0\"></span>n to the ris<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>-free intere<span class=\"_ _0\"></span>st rate cur<span class=\"_ _0\"></span>ve is adj<span class=\"_ _0\"></span>usted to refle<span class=\"_ _0\"></span>ct the imp<span class=\"_ _0\"></span>act on valu<span class=\"_ _0\"></span>es of inflation-linked ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s includ<span class=\"_ _0\"></span>ed within the refere<span class=\"_ _0\"></span>nce por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lio used to determin<span class=\"_ _0\"></span>e the illiquidit<span class=\"_ _0\"></span>y premium<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w5f8 h250\" id=\"_fdd200cc-4ab4-45b4-ba2e-5d266529233f\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5de6 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5de6 w5dc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3a4 ha y5de7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5de7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x3ba ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">profi<span class=\"_ _0\"></span>t  </td><td class=\"t m0 xcbd ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5de8 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5de8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 x936 h29 y5de9 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd05 ha y5de9 ff2 fs5 fc3 sc0 ls1 ws1\">af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x490 ha y5de9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 ha y5de9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM</td><td class=\"t m0 xd08 ha y5de9 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5de9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5de9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2e3 h29 y5dea ff3 fs5 fc3 sc0 lsa6 wsa1\">inflation<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5dea ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5deb w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd09 y5deb w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd64 y5deb w279 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,18<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd65 y5deb w279 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,18<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd66 y5deb w331 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd67 y5deb w5f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>179<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd68 y5deb w31d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>179<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd69 y5deb wc3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5dec w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd10 y5dec w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6a y5dec w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6b y5dec w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6c y5dec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6d y5dec w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6e y5dec w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd6f y5dec wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ded ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking insur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dee w5fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">and rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd70 y5dee w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd71 y5dee w5fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd72 y5dee w5c4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd73 y5dee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd74 y5dee w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd75 y5dee w10f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,599<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd76 y5dee we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5def ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df0 w5fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">contract<span class=\"_ _2\"></span> without DPF<span class=\"_ _2\"></span> balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd77 y5df0 w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd78 y5df0 w166 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd79 y5df0 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7a y5df0 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7b y5df0 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7c y5df0 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df1 w130 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2c y5df1 w5de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2d y5df1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7d y5df1 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(11<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7e y5df1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7f y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd80 y5df1 w5fd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b0 y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x928 y5df2 w25a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd81 y5df2 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">375<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd82 y5df2 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(30)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd83 y5df2 w2c7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd84 y5df2 w533 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">174<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd85 y5df2 wc3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5df3 w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd37 y5df3 w5ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd86 y5df3 w25e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _1\"></span>,1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd87 y5df3 w50 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd88 y5df3 w136 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd89 y5df3 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,096<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8a y5df3 w45f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,096<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8b y5df3 w4ef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5df4 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8c y5df4 w5f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8d y5df4 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x58e y5df4 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8e y5df4 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd8f y5df4 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd90 y5df4 w9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd91 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5df5 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking insur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w5fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">and<span class=\"_ gs47\"> </span>rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd92 y5b12 w5f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd93 y5b12 w5fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd94 y5b12 w8c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd95 y5b12 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd96 y5b12 w329 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,30<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd97 y5b12 w329 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,30<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd98 y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5df6 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to infl<span class=\"_ _0\"></span>ation risk ba<span class=\"_ _0\"></span>cking investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w5fc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">contract<span class=\"_ _2\"></span> without DPF<span class=\"_ _2\"></span> balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd99 y5b24 w5f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9a y5b24 w5ff h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9b y5b24 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9c y5b24 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9d y5b24 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9e y5b24 w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w130 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension s<span class=\"_ _0\"></span>cheme lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd58 y5b25 w5f7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd59 y5b25 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda0 y5b25 w2ae h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">109<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda1 y5b25 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda2 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda3 y5b25 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">222<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda4 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x934 y5a16 w600 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda5 y5a16 w601 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda6 y5a16 w602 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda7 y5a16 w603 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>213<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda8 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd36 y5a16 w345 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Equity and property risk<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is expos<span class=\"_ _0\"></span>ed to the risk of re<span class=\"_ _0\"></span>duction<span class=\"_ _0\"></span>s in the valuation of e<span class=\"_ _0\"></span>quities (or chan<span class=\"_ _0\"></span>ges in the vol<span class=\"_ _0\"></span>atility) or prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y investm<span class=\"_ _0\"></span>ents whic<span class=\"_ _0\"></span>h could res<span class=\"_ _0\"></span>ult in redu<span class=\"_ _0\"></span>ctions in as<span class=\"_ _0\"></span>set value<span class=\"_ _0\"></span>s and los<span class=\"_ _0\"></span>ses for polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>rs or share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. In this c<span class=\"_ _0\"></span>ontext, e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y asset<span class=\"_ _0\"></span>s should b<span class=\"_ _0\"></span>e taken to include s<span class=\"_ _0\"></span>hares<span class=\"_ _0\"></span>, equit<span class=\"_ _0\"></span>y deriva<span class=\"_ _0\"></span>tives, e<span class=\"_ _0\"></span>quity c<span class=\"_ _0\"></span>ollect<span class=\"_ _0\"></span>ives and unlis<span class=\"_ _0\"></span>ted equitie<span class=\"_ _0\"></span>s. Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y asse<span class=\"_ _0\"></span>ts inclu<span class=\"_ _0\"></span>de direct prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y invest<span class=\"_ _0\"></span>ment, sh<span class=\"_ _0\"></span>ares in prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y compan<span class=\"_ _0\"></span>ies, pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty colle<span class=\"_ _0\"></span>ctives an<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y ass<span class=\"_ _0\"></span>ets<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio of marketable e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s and prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y investm<span class=\"_ _0\"></span>ents which is c<span class=\"_ _0\"></span>arried in th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posit<span class=\"_ _0\"></span>ion at fair value h<span class=\"_ _0\"></span>as<span class=\"_ gs47\"> </span>exposure to p<span class=\"_ _0\"></span>rice risk<span class=\"_ _0\"></span>. The Group\u2019s obje<span class=\"_ _0\"></span>ctive in holdin<span class=\"_ _0\"></span>g these as<span class=\"_ _0\"></span>sets i<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>arn highe<span class=\"_ _0\"></span>r long-term ret<span class=\"_ _0\"></span>urns by investing in a di<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rse por<span class=\"_ _0\"></span>tfo<span class=\"_ _0\"></span>lio of equiti<span class=\"_ _0\"></span>es and prop<span class=\"_ _0\"></span>ertie<span class=\"_ _0\"></span>s. Port<span class=\"_ _0\"></span>folio cha<span class=\"_ _0\"></span>racteris<span class=\"_ _0\"></span>tics are a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>d regular<span class=\"_ _0\"></span>ly and price r<span class=\"_ _0\"></span>isks are active<span class=\"_ _0\"></span>ly manag<span class=\"_ _0\"></span>ed in line with inve<span class=\"_ _0\"></span>stment m<span class=\"_ _0\"></span>andates<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s hol<span class=\"_ _0\"></span>dings are diver<span class=\"_ _0\"></span>sified ac<span class=\"_ _0\"></span>ross indus<span class=\"_ _0\"></span>tries an<span class=\"_ _0\"></span>d concent<span class=\"_ _0\"></span>rations in any one c<span class=\"_ _0\"></span>ompany or ind<span class=\"_ _0\"></span>ustr<span class=\"_ _0\"></span>y are limited.<span class=\"_ _3bd\"> </span>Equit<span class=\"_ _0\"></span>y and prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y price ri<span class=\"_ _0\"></span>sk is primarily b<span class=\"_ _0\"></span>orne in resp<span class=\"_ _0\"></span>ect of as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld in with-profit<span class=\"_ _0\"></span>s funds<span class=\"_ _0\"></span>, unit-linked funds or e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y release m<span class=\"_ _0\"></span>ortg<span class=\"_ _0\"></span>ages in th<span class=\"_ _0\"></span>e non-p<span class=\"_ _0\"></span>rofit funds<span class=\"_ _0\"></span>. For unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d funds this ri<span class=\"_ _0\"></span>sk is borne by p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and a<span class=\"_ _0\"></span>sset movem<span class=\"_ _0\"></span>ents dire<span class=\"_ _0\"></span>ctly impa<span class=\"_ _0\"></span>ct unit price<span class=\"_ _0\"></span>s and hen<span class=\"_ _0\"></span>ce policy v<span class=\"_ _0\"></span>alues. For with-p<span class=\"_ _0\"></span>rofits funds p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lders\u2019 fut<span class=\"_ _0\"></span>ure bonuse<span class=\"_ _0\"></span>s will be impac<span class=\"_ _0\"></span>ted by the inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s achieved an<span class=\"_ _0\"></span>d henc<span class=\"_ _0\"></span>e the price ris<span class=\"_ _0\"></span>k, whilst t<span class=\"_ _0\"></span>he Group also h<span class=\"_ _0\"></span>as expos<span class=\"_ _0\"></span>ure to the value of gua<span class=\"_ _0\"></span>rantees provid<span class=\"_ _0\"></span>ed to with-profit<span class=\"_ _0\"></span>s policy<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. In addi<span class=\"_ _0\"></span>tion, som<span class=\"_ _0\"></span>e equit<span class=\"_ _0\"></span>y investme<span class=\"_ _0\"></span>nts are hel<span class=\"_ _0\"></span>d in respec<span class=\"_ _0\"></span>t of share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 f<span class=\"_ _0\"></span>unds. For th<span class=\"_ _0\"></span>e non-profit f<span class=\"_ _0\"></span>und proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y price risk fro<span class=\"_ _0\"></span>m equit<span class=\"_ _0\"></span>y releas<span class=\"_ _0\"></span>e mortg<span class=\"_ _0\"></span>ages i<span class=\"_ _0\"></span>s borne by the Gro<span class=\"_ _0\"></span>up with the aim of ac<span class=\"_ _0\"></span>hieving greate<span class=\"_ _0\"></span>r diversific<span class=\"_ _0\"></span>ation and inves<span class=\"_ _0\"></span>tment return<span class=\"_ _0\"></span>s, con<span class=\"_ _0\"></span>sistent with th<span class=\"_ _0\"></span>e Strategi<span class=\"_ _0\"></span>c Asset A<span class=\"_ _0\"></span>llocation a<span class=\"_ _0\"></span>pproved by the Bo<span class=\"_ _0\"></span>ard. The Gro<span class=\"_ _0\"></span>up as a whole is expo<span class=\"_ _0\"></span>sed to pric<span class=\"_ _0\"></span>e risk fluct<span class=\"_ _0\"></span>uations impa<span class=\"_ _0\"></span>cting th<span class=\"_ _0\"></span>e income flow of m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment charg<span class=\"_ _0\"></span>es from the inves<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>ets of all fun<span class=\"_ _0\"></span>ds; this is prim<span class=\"_ _0\"></span>arily mana<span class=\"_ _0\"></span>ged through the use of derivatives<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Equit<span class=\"_ _0\"></span>y and prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y price ri<span class=\"_ _0\"></span>sk is manag<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh the agre<span class=\"_ _0\"></span>ement an<span class=\"_ _0\"></span>d monitoring of fin<span class=\"_ _0\"></span>ancial risk p<span class=\"_ _0\"></span>rofiles that are ap<span class=\"_ _0\"></span>propriate for ea<span class=\"_ _0\"></span>ch of the Group\u2019s life funds in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f m<span class=\"_ _0\"></span>aintaining a<span class=\"_ _0\"></span>dequate re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capita<span class=\"_ _0\"></span>l and Con<span class=\"_ _0\"></span>sumer Du<span class=\"_ _0\"></span>ty. This is larg<span class=\"_ _0\"></span>ely achieve<span class=\"_ _0\"></span>d through as<span class=\"_ _0\"></span>set cla<span class=\"_ _0\"></span>ss divers<span class=\"_ _0\"></span>ification an<span class=\"_ _0\"></span>d within the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s ALM fram<span class=\"_ _0\"></span>ework throug<span class=\"_ _0\"></span>h the holdin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>rivatives or physi<span class=\"_ _0\"></span>cal posi<span class=\"_ _0\"></span>tions in relevant a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s where approp<span class=\"_ _0\"></span>riate. The sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>ers\u2019 expos<span class=\"_ _0\"></span>ure to equit<span class=\"_ _0\"></span>y risk princip<span class=\"_ _0\"></span>ally arise<span class=\"_ _0\"></span>s from the Group\u2019s hedg<span class=\"_ _0\"></span>ing stra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gy to protec<span class=\"_ _0\"></span>t the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>osition, w<span class=\"_ _0\"></span>hich result<span class=\"_ _0\"></span>s in an adver<span class=\"_ _0\"></span>se impac<span class=\"_ _0\"></span>t on profit on an inc<span class=\"_ _0\"></span>rease in eq<span class=\"_ _0\"></span>uity pri<span class=\"_ _0\"></span>ces.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y anal<span class=\"_ _0\"></span>ysis for equit<span class=\"_ _0\"></span>y and pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>y pric<span class=\"_ _0\"></span>e risk illustr<span class=\"_ _0\"></span>ates how a cha<span class=\"_ _0\"></span>nge in the fair v<span class=\"_ _0\"></span>alue of equitie<span class=\"_ _0\"></span>s and prope<span class=\"_ _0\"></span>rties af<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s the Group re<span class=\"_ _0\"></span>sult. It takes into ac<span class=\"_ _0\"></span>count the ef<span class=\"_ _0\"></span>fect of su<span class=\"_ _0\"></span>ch chang<span class=\"_ _0\"></span>es in equit<span class=\"_ _0\"></span>y and pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>es on all as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities tha<span class=\"_ _0\"></span>t contribute to the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d profit af<span class=\"_ _0\"></span>ter tax an<span class=\"_ _0\"></span>d in equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y repre<span class=\"_ _0\"></span>sents a 1<span class=\"_ _0\"></span>0% chan<span class=\"_ _0\"></span>ge in equit<span class=\"_ _0\"></span>y price<span class=\"_ _0\"></span>s at the balan<span class=\"_ _0\"></span>ce she<span class=\"_ _0\"></span>et date.<span class=\"_ gs47\"> </span> This is ap<span class=\"_ _0\"></span>plied to investm<span class=\"_ _0\"></span>ent ass<span class=\"_ _0\"></span>ets/liabili<span class=\"_ _0\"></span>ties and to polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities direc<span class=\"_ _0\"></span>tly mea<span class=\"_ _0\"></span>sured with refere<span class=\"_ _0\"></span>nce to the val<span class=\"_ _0\"></span>ue of backing e<span class=\"_ _0\"></span>quities<span class=\"_ _0\"></span>, such as inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities, un<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed in<span class=\"_ _0\"></span>surance contr<span class=\"_ _0\"></span>acts an<span class=\"_ _0\"></span>d with-profit<span class=\"_ _0\"></span>s contrac<span class=\"_ _0\"></span>ts, a<span class=\"_ _0\"></span>nd ass<span class=\"_ _0\"></span>ociated rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts.<span class=\"_ gs47\"> </span> T<span class=\"_ _0\"></span>he illiquidit<span class=\"_ _0\"></span>y premiums us<span class=\"_ _0\"></span>ed in the me<span class=\"_ _0\"></span>asurem<span class=\"_ _0\"></span>ent of insuranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>acts do n<span class=\"_ _0\"></span>ot chang<span class=\"_ _0\"></span>e as a result of this s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y.<span class=\"_ _3bd\"> </span><table class=\"s w604 h251\" id=\"_53394692-fa43-447d-a69c-321e957b2104\"><tr><td></td><td></td><td></td><td class=\"c n xab2 y5de6 w467 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xdaa y5de6 w5dc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xda9 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xdab h29 y5df7 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xdac ha y5df7 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x782 h29 y5df8 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit  </td><td></td><td class=\"t m0 x57d h29 y5df8 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x557 ha y5df8 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b ha y5df8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x802 ha y5df8 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 xdad h29 y5df9 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 x5a4 h29 y5df9 ff3 fs5 fc3 sc0 ls22 ws24\">after tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59d h29 y5df9 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xaf9 h29 y5df9 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xb74 ha y5df9 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdae ha y5df9 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdaf ha y5df9 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xdb0 h29 y5dfa ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> pric<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x555 h29 y5dfa ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb1 h29 y5dfa ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe h29 y5dfa ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb2 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5dfa ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5deb w5dd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb4 y5deb w605 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb5 y5deb w606 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,239)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb6 y5deb w607 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2<span class=\"_ _0\"></span>,239)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb7 y5deb w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb8 y5deb w7b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2,<span class=\"_ _0\"></span>192)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdb9 y5deb w608 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2,192)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x249 y5deb w123 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dec w5e1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdba y5dec w609 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbb y5dec w24d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbc y5dec w24d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbd y5dec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbe y5dec w1ff h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdbf y5dec w60a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1a\"> </span>7,<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc0 y5dec wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfb ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5dee w5e5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc1 y5dee w605 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc2 y5dee w60b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">2<span class=\"_ _0\"></span>,293<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc3 y5dee w41f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">2,<span class=\"_ _0\"></span>293<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc4 y5dee wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc5 y5dee w60c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>241<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0c y5dee w60c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>241<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc6 y5dee wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfc ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df0 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdba y5df0 w609 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc7 y5df0 w60d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc8 y5df0 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc9 y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdca y5df0 w1f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5fc y5df0 w1f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcb y5df0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df1 w60e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to equ<span class=\"_ _0\"></span>ity pric<span class=\"_ _0\"></span>e risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcc y5df1 w60f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcd y5df1 w610 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(20<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdce y5df1 w611 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(20<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcf y5df1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd0 y5df1 w4ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>223)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd1 y5df1 w612 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(223)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5df1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xdd2 y5df2 w613 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd3 y5df2 w614 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd4 y5df2 w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd5 y5df2 w28c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd6 y5df2 w615 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(<span class=\"_ _0\"></span>260<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd7 y5df2 w123 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df3 w5dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd8 y5df3 w616 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-10<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd9 y5df3 w617 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdda y5df3 w618 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddb y5df3 w619 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddc y5df3 w61a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,227<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddd y5df3 w61b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdde y5df3 w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5df4 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5df4 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde0 y5df4 w61e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde1 y5df4 w61f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">8,<span class=\"_ _0\"></span>301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde2 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde3 y5df4 w620 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">8,07<span class=\"_ _2\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde4 y5df4 w621 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">8,07<span class=\"_ _4\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd98 y5df4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfd ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w5e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde5 y5b12 w622 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde6 y5b12 w623 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,3<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde7 y5b12 w425 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>,328<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde9 y5b12 w32b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,279)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdea y5b12 w6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>79)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdeb y5b12 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y5dfe ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to e<span class=\"_ _0\"></span>quity p<span class=\"_ _0\"></span>rice risk ba<span class=\"_ _0\"></span>cking </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 w5e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5b24 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdec y5b24 w624 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8,<span class=\"_ _0\"></span>208)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xded y5b24 w625 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>,20<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdee y5b24 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdef y5b24 w626 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(<span class=\"_ _0\"></span>7<span class=\"_ _3\"></span>,988)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf0 y5b24 w627 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(<span class=\"_ _0\"></span>7<span class=\"_ _4\"></span>,988)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x460 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w60e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial asse<span class=\"_ _0\"></span>ts subje<span class=\"_ _0\"></span>ct to equ<span class=\"_ _0\"></span>ity pric<span class=\"_ _0\"></span>e risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf1 y5b25 w61d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf2 y5b25 w628 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf3 y5b25 w277 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf4 y5b25 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf5 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf6 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf7 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xdf8 y5a16 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf9 y5a16 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfa y5a16 w1a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(50<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfb y5a16 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfc y5a16 w100 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">263<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdfd y5a16 w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty se<span class=\"_ _0\"></span>nsitivit<span class=\"_ _0\"></span>y repres<span class=\"_ _0\"></span>ents a 10<span class=\"_ _0\"></span>% chang<span class=\"_ _0\"></span>e in proper<span class=\"_ _0\"></span>ty pr<span class=\"_ _0\"></span>ices at the b<span class=\"_ _0\"></span>alance sh<span class=\"_ _0\"></span>eet date. Th<span class=\"_ _0\"></span>is is applied to inves<span class=\"_ _0\"></span>tment as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>/liabilities an<span class=\"_ _0\"></span>d to polic<span class=\"_ _0\"></span>yholder li<span class=\"_ _0\"></span>abilities direc<span class=\"_ _0\"></span>tly mea<span class=\"_ _0\"></span>sured with refere<span class=\"_ _0\"></span>nce to the val<span class=\"_ _0\"></span>ue of backing p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, such as inve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities<span class=\"_ _0\"></span>, unit-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>nd with-profit c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, an<span class=\"_ _0\"></span>d asso<span class=\"_ _0\"></span>ciated reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. The illi<span class=\"_ _0\"></span>quidity p<span class=\"_ _0\"></span>remium use<span class=\"_ _0\"></span>d in the valuatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f pr<span class=\"_ _0\"></span>imarily annuit<span class=\"_ _0\"></span>y liabilit<span class=\"_ _0\"></span>ies, an<span class=\"_ _0\"></span>d asso<span class=\"_ _0\"></span>ciated reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, is a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d to reflect t<span class=\"_ _0\"></span>he impact of p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty valu<span class=\"_ _0\"></span>es on the cha<span class=\"_ _0\"></span>nge in spre<span class=\"_ _0\"></span>ads arisin<span class=\"_ _0\"></span>g on equi<span class=\"_ _0\"></span>ty rele<span class=\"_ _0\"></span>ase mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ts held wit<span class=\"_ _0\"></span>hin the referenc<span class=\"_ _0\"></span>e port<span class=\"_ _0\"></span>folio.<span class=\"_ _3bd\"> </span><table class=\"s w629 h252\" id=\"_a98f840c-484b-4e17-b6ac-a5280447eae8\"><tr><td></td><td></td><td></td><td class=\"c n xd00 y5dff w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c xd02 y5dff w5dc h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xd01 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa31 h29 y5e00 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td></td><td></td><td class=\"t m0 xd03 ha y5e00 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x936 h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n </td><td class=\"t m0 xdfe h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">pro<span class=\"_ _0\"></span>fit af<span class=\"_ _0\"></span>ter </td><td class=\"t m0 x2e5 h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x2ff h29 y5e01 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n </td><td class=\"t m0 xd04 ha y5e01 ff2 fs5 fc3 sc0 ls21 ws23\">profit<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x86b ha y5e01 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td><td class=\"t m0 x907 ha y5e01 ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n </td></tr><tr><td></td><td class=\"t m0 xdff h29 y5e02 ff3 fs5 fc3 sc0 lsbe wsbe\">propert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> </td><td class=\"t m0 x603 h29 y5e02 ff3 fs5 fc3 sc0 ls9e ws9a\">tax<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd06 h29 y5e02 ff3 fs5 fc3 sc0 ls22 ws24\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd07 h29 y5e02 ff3 fs5 fc3 sc0 ls4d wsbf\">CSM</td><td class=\"t m0 xd08 ha y5e02 ff2 fs5 fc3 sc0 ls1 ws1\"> af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b5 ha y5e02 ff2 fs5 fc3 sc0 ls26 wsc6\">equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5e02 ff2 fs5 fc3 sc0 ls9e ws9a\">CSM<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x493 h29 y5e03 ff3 fs5 fc3 sc0 ls22 ws24\">prices<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y5e03 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5e03 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5e04 w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe00 y5e04 w605 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe01 y5e04 w1e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe02 y5e04 w1e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>121<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe03 y5e04 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe04 y5e04 w62a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>141<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe05 y5e04 w62b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe06 y5e04 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e05 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe07 y5e05 w609 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe08 y5e05 w62c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>291)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe09 y5e05 w62c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(2<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0a y5e05 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0b y5e05 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>278)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0c y5e05 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(278<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0d y5e05 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e06 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e07 w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0e y5e07 w605 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe0f y5e07 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">181<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe10 y5e07 w2cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe11 y5e07 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe12 y5e07 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe13 y5e07 w14e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">193<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe14 y5e07 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e08 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e09 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe07 y5e09 w609 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe15 y5e09 w2cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">2<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe16 y5e09 w6f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">291<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe17 y5e09 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe18 y5e09 w540 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe19 y5e09 w546 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">278<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1a y5e09 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe1b y5e0a w5a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1c y5e0a w5a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1d y5e0a wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1e y5e0a w3e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe1f y5e0a w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe20 y5e0a wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e0b w5dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdd8 y5e0b w616 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-10<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe21 y5e0b wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y5e0b wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe23 y5e0b w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe24 y5e0b w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">135<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe25 y5e0b w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe26 y5e0b w62e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d28 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5d28 w61d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe27 y5d28 w62f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe28 y5d28 w4cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe29 y5d28 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2a y5d28 w266 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2b y5d28 w2b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2c y5d28 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e0c ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e0d w5e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">insur<span class=\"_ _0\"></span>ance and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde5 y5e0d w622 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2d y5e0d w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2e y5e0d w630 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe2f y5e0d we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe30 y5e0d w28b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe31 y5e0d w631 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd5e y5e0d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e0e ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets sub<span class=\"_ _0\"></span>ject to p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pric<span class=\"_ _0\"></span>e risk bac<span class=\"_ _0\"></span>king </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b43 w5e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment cont<span class=\"_ _2\"></span>ract without DP<span class=\"_ _2\"></span>F balances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xddf y5b43 w61d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe32 y5b43 w632 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(296<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe33 y5b43 w633 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe34 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4be y5b43 w634 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe35 y5b43 w634 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>283)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x9be y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe36 y5b4c w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe37 y5b4c w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe38 y5b4c w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe39 y5b4c w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3a y5b4c w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe3b y5b4c w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note E6<span class=\"_ _0\"></span>.2 for f<span class=\"_ _0\"></span>urth<span class=\"_ _0\"></span>er det<span class=\"_ _0\"></span>ails of th<span class=\"_ _0\"></span>e prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y to chan<span class=\"_ _0\"></span>ges in eq<span class=\"_ _0\"></span>uity pric<span class=\"_ _0\"></span>es is prima<span class=\"_ _0\"></span>rily driven by the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s equi<span class=\"_ _0\"></span>ty he<span class=\"_ _0\"></span>dging arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nts over the val<span class=\"_ _0\"></span>ue of future man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt charg<span class=\"_ _0\"></span>es that are linked to a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>es. Curren<span class=\"_ _0\"></span>cy risk<span class=\"_ _3bd\"> </span>Curren<span class=\"_ _0\"></span>cy risk is the r<span class=\"_ _0\"></span>isk that cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e value of currenc<span class=\"_ _0\"></span>ies could l<span class=\"_ _0\"></span>ead to reduc<span class=\"_ _0\"></span>tions in as<span class=\"_ _0\"></span>set value<span class=\"_ _0\"></span>s which may res<span class=\"_ _0\"></span>ult in losse<span class=\"_ _0\"></span>s for policyh<span class=\"_ _0\"></span>olders and sh<span class=\"_ _0\"></span>arehold<span class=\"_ _0\"></span>ers. W<span class=\"_ _0\"></span>ith the exceptio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f St<span class=\"_ _0\"></span>andard Life Intern<span class=\"_ _0\"></span>ational b<span class=\"_ _0\"></span>usiness s<span class=\"_ _0\"></span>old in Germ<span class=\"_ _0\"></span>any and the Rep<span class=\"_ _0\"></span>ublic of Ireland a<span class=\"_ _0\"></span>nd some hi<span class=\"_ _0\"></span>storic busin<span class=\"_ _0\"></span>ess writ<span class=\"_ _0\"></span>ten in<span class=\"_ gs47\"> </span>the Re<span class=\"_ _0\"></span>public of Irelan<span class=\"_ _0\"></span>d, the Group\u2019s princ<span class=\"_ _0\"></span>ipal trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d out in sterlin<span class=\"_ _0\"></span>g. The as<span class=\"_ _0\"></span>sets for t<span class=\"_ _0\"></span>hese bo<span class=\"_ _0\"></span>oks of busines<span class=\"_ _0\"></span>s are gen<span class=\"_ _0\"></span>erally he<span class=\"_ _0\"></span>ld in the sam<span class=\"_ _0\"></span>e currency d<span class=\"_ _0\"></span>enominat<span class=\"_ _0\"></span>ion as their liab<span class=\"_ _0\"></span>ilities, t<span class=\"_ _0\"></span>herefore, any foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y mismatch is la<span class=\"_ _0\"></span>rgely mitig<span class=\"_ _0\"></span>ated. C<span class=\"_ _0\"></span>onsequ<span class=\"_ _0\"></span>ently<span class=\"_ _2\"></span>, the foreig<span class=\"_ _0\"></span>n currenc<span class=\"_ _0\"></span>y risk relatin<span class=\"_ _0\"></span>g t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>is busines<span class=\"_ _0\"></span>s mainly ar<span class=\"_ _0\"></span>ises whe<span class=\"_ _0\"></span>n the ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities are tran<span class=\"_ _0\"></span>slated into ste<span class=\"_ _0\"></span>rling.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets are prim<span class=\"_ _0\"></span>arily den<span class=\"_ _0\"></span>ominated in the s<span class=\"_ _0\"></span>ame curre<span class=\"_ _0\"></span>ncies as it<span class=\"_ _0\"></span>s insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment liabilitie<span class=\"_ _0\"></span>s. Thu<span class=\"_ _0\"></span>s, the ma<span class=\"_ _0\"></span>in foreign exchan<span class=\"_ _0\"></span>ge risk aris<span class=\"_ _0\"></span>es from rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d asse<span class=\"_ _0\"></span>ts and liabili<span class=\"_ _0\"></span>ties denom<span class=\"_ _0\"></span>inated in curre<span class=\"_ _0\"></span>ncies othe<span class=\"_ _0\"></span>r than thos<span class=\"_ _0\"></span>e in which insur<span class=\"_ _0\"></span>ance and inves<span class=\"_ _0\"></span>tment liab<span class=\"_ _0\"></span>ilities are exp<span class=\"_ _0\"></span>ected to b<span class=\"_ _0\"></span>e sett<span class=\"_ _0\"></span>led and<span class=\"_ _0\"></span>, indirectl<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, from the n<span class=\"_ _0\"></span>on-U<span class=\"_ _0\"></span>K earning<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f U<span class=\"_ _0\"></span>K compan<span class=\"_ _0\"></span>ies.<span class=\"_ _3bd\"> </span>Both th<span class=\"_ _0\"></span>e with-profits a<span class=\"_ _0\"></span>nd non-profit f<span class=\"_ _0\"></span>unds have som<span class=\"_ _0\"></span>e exposure to over<span class=\"_ _0\"></span>seas as<span class=\"_ _0\"></span>sets wh<span class=\"_ _0\"></span>ich is not driven by liabili<span class=\"_ _0\"></span>ty con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>ns. The p<span class=\"_ _0\"></span>urpose of this expo<span class=\"_ _0\"></span>sure is to reduc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>rall risk whils<span class=\"_ _0\"></span>t maximis<span class=\"_ _0\"></span>ing returns by diver<span class=\"_ _0\"></span>sificatio<span class=\"_ _0\"></span>n. This exp<span class=\"_ _0\"></span>osure is limited a<span class=\"_ _0\"></span>nd manag<span class=\"_ _0\"></span>ed throu<span class=\"_ _0\"></span>gh investme<span class=\"_ _0\"></span>nt mandates<span class=\"_ _3bd\"> </span>which are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the oversig<span class=\"_ _0\"></span>ht o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ommit<span class=\"_ _0\"></span>tees of the Bo<span class=\"_ _0\"></span>ards of each in<span class=\"_ _0\"></span>surance s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, an<span class=\"_ _0\"></span>d in the cas<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e with-profit<span class=\"_ _0\"></span>s funds con<span class=\"_ _0\"></span>sistent with p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders\u2019 reas<span class=\"_ _0\"></span>onable exp<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>ations and PPFM<span class=\"_ _0\"></span>. Fluct<span class=\"_ _0\"></span>uations in exch<span class=\"_ _0\"></span>ange rate<span class=\"_ _0\"></span>s from cer<span class=\"_ _0\"></span>tain hol<span class=\"_ _0\"></span>dings in overs<span class=\"_ _0\"></span>eas as<span class=\"_ _0\"></span>sets are hed<span class=\"_ _0\"></span>ged ag<span class=\"_ _0\"></span>ainst c<span class=\"_ _0\"></span>urrency ris<span class=\"_ _0\"></span>ks. At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group had in p<span class=\"_ _0\"></span>lace four cro<span class=\"_ _0\"></span>ss curren<span class=\"_ _0\"></span>cy swaps w<span class=\"_ _0\"></span>hich were desig<span class=\"_ _0\"></span>nated as he<span class=\"_ _0\"></span>dging ins<span class=\"_ _0\"></span>trume<span class=\"_ _0\"></span>nts in order to ef<span class=\"_ _0\"></span>fect c<span class=\"_ _0\"></span>ash flow he<span class=\"_ _0\"></span>dges of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s Euro an<span class=\"_ _0\"></span>d US Dollar de<span class=\"_ _0\"></span>nominate<span class=\"_ _0\"></span>d borrowing<span class=\"_ _0\"></span>s. On 12 J<span class=\"_ _0\"></span>une 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Co<span class=\"_ _0\"></span>mpany issu<span class=\"_ _0\"></span>ed US $<span class=\"_ _0\"></span>500 million C<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes and t<span class=\"_ _0\"></span>he cross c<span class=\"_ _0\"></span>urrency s<span class=\"_ _0\"></span>wap that was e<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>red into at this time wa<span class=\"_ _0\"></span>s designa<span class=\"_ _0\"></span>ted as a hed<span class=\"_ _0\"></span>ging ins<span class=\"_ _0\"></span>trument. O<span class=\"_ _0\"></span>n 18 Jun<span class=\"_ _0\"></span>e 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, $5<span class=\"_ _0\"></span>00 million of the $<span class=\"_ _0\"></span>750 million Co<span class=\"_ _0\"></span>ntingently C<span class=\"_ _0\"></span>onvert<span class=\"_ _0\"></span>ible T1 notes we<span class=\"_ _0\"></span>re repurchas<span class=\"_ _0\"></span>ed via a ten<span class=\"_ _0\"></span>der offer, leading to a<span class=\"_ _0\"></span>n unwinding of $5<span class=\"_ _0\"></span>00 million of<span class=\"_ gs47\"> </span>the relate<span class=\"_ _0\"></span>d swap arr<span class=\"_ _0\"></span>angeme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>E6.<span class=\"_ _0\"></span>2.3 Financial soundness r<span class=\"_ _2\"></span>isk<span class=\"_ _3bd\"> </span>Finan<span class=\"_ _0\"></span>cial soun<span class=\"_ _0\"></span>dness r<span class=\"_ _0\"></span>isk is a broad ris<span class=\"_ _0\"></span>k categ<span class=\"_ _0\"></span>ory en<span class=\"_ _0\"></span>compas<span class=\"_ _0\"></span>sing ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt risk, t<span class=\"_ _0\"></span>ax risk and li<span class=\"_ _0\"></span>quidity a<span class=\"_ _0\"></span>nd funding ri<span class=\"_ _0\"></span>sk.<span class=\"_ _3bd\"> </span>Capit<span class=\"_ _0\"></span>al mana<span class=\"_ _0\"></span>gement ri<span class=\"_ _0\"></span>sk is defined a<span class=\"_ _0\"></span>s the risk of redu<span class=\"_ _0\"></span>ctions in e<span class=\"_ _0\"></span>arnings an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or valu<span class=\"_ _0\"></span>e, throug<span class=\"_ _0\"></span>h financial or re<span class=\"_ _0\"></span>putatio<span class=\"_ _0\"></span>nal loss<span class=\"_ _0\"></span>, due to a failure to maint<span class=\"_ _0\"></span>ain suffic<span class=\"_ _0\"></span>ient capit<span class=\"_ _0\"></span>al to provide approp<span class=\"_ _0\"></span>riate sec<span class=\"_ _0\"></span>urity for p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and m<span class=\"_ _0\"></span>eet all reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y capital re<span class=\"_ _0\"></span>quireme<span class=\"_ _0\"></span>nts whilst n<span class=\"_ _0\"></span>ot retaining unne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary c<span class=\"_ _0\"></span>apital. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s exposure to c<span class=\"_ _0\"></span>apital ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent risk throu<span class=\"_ _0\"></span>gh the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s mandate<span class=\"_ _0\"></span>d by the PR<span class=\"_ _0\"></span>A. The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s app<span class=\"_ _0\"></span>roach to man<span class=\"_ _0\"></span>aging ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt risk is des<span class=\"_ _0\"></span>cribed in de<span class=\"_ _0\"></span>tail in note I3<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Ta<span class=\"_ _0\"></span>x<span class=\"_ _0\"></span> r<span class=\"_ _0\"></span>i<span class=\"_ _0\"></span>s<span class=\"_ _1\"></span>k<span class=\"_ _3bd\"> </span>T<span class=\"_ _2\"></span>ax risk is d<span class=\"_ _0\"></span>efined as th<span class=\"_ _0\"></span>e risk of reduc<span class=\"_ _0\"></span>tions in earn<span class=\"_ _0\"></span>ings and/<span class=\"_ _2\"></span>or va<span class=\"_ _0\"></span>lue, throug<span class=\"_ _0\"></span>h financia<span class=\"_ _0\"></span>l or reputati<span class=\"_ _0\"></span>onal los<span class=\"_ _0\"></span>s, due to an unfores<span class=\"_ _0\"></span>een ta<span class=\"_ _0\"></span>x cost<span class=\"_ _0\"></span>, or by the inapp<span class=\"_ _0\"></span>ropriate repo<span class=\"_ _0\"></span>rting an<span class=\"_ _0\"></span>d disclos<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f inform<span class=\"_ _0\"></span>ation in relatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o t<span class=\"_ _0\"></span>axation<span class=\"_ _0\"></span>. T<span class=\"_ _4\"></span>ax ris<span class=\"_ _0\"></span>k can be c<span class=\"_ _0\"></span>ause<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup, or one of its s<span class=\"_ _0\"></span>ubsidiarie<span class=\"_ _0\"></span>s, makin<span class=\"_ _0\"></span>g a material e<span class=\"_ _0\"></span>rror in its ta<span class=\"_ _0\"></span>x repor<span class=\"_ _0\"></span>ting; \u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>orrect c<span class=\"_ _0\"></span>alculatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f t<span class=\"_ _0\"></span>ax provision<span class=\"_ _0\"></span>s; \u2022 <span class=\"_ _19\"> </span>failure to im<span class=\"_ _0\"></span>plement th<span class=\"_ _0\"></span>e optimum finan<span class=\"_ _0\"></span>cial arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s to underpin a c<span class=\"_ _0\"></span>ommercia<span class=\"_ _0\"></span>l transa<span class=\"_ _0\"></span>ction; and \u2022 <span class=\"_ _19\"> </span>inc<span class=\"_ _0\"></span>orrect o<span class=\"_ _0\"></span>peration of p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>er tax re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>T<span class=\"_ _2\"></span>ax risk is m<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ed by maintainin<span class=\"_ _0\"></span>g an appropri<span class=\"_ _0\"></span>ately-s<span class=\"_ _0\"></span>taffe<span class=\"_ _0\"></span>d tax team wh<span class=\"_ _0\"></span>o have the qualific<span class=\"_ _0\"></span>ations an<span class=\"_ _0\"></span>d experien<span class=\"_ _0\"></span>ce to make judg<span class=\"_ _0\"></span>ements o<span class=\"_ _0\"></span>n tax iss<span class=\"_ _0\"></span>ues, augm<span class=\"_ _0\"></span>ented by advi<span class=\"_ _0\"></span>ce from ex<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal spe<span class=\"_ _0\"></span>cialist<span class=\"_ _0\"></span>s where re<span class=\"_ _0\"></span>quired. In a<span class=\"_ _0\"></span>ddition, th<span class=\"_ _0\"></span>e Group has a form<span class=\"_ _0\"></span>al tax ris<span class=\"_ _0\"></span>k policy, which set<span class=\"_ _0\"></span>s out its ri<span class=\"_ _0\"></span>sk appetite in relatio<span class=\"_ _0\"></span>n to specific a<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>ts of tax ris<span class=\"_ _0\"></span>k, and wh<span class=\"_ _0\"></span>ich details th<span class=\"_ _0\"></span>e controls the G<span class=\"_ _0\"></span>roup has in pla<span class=\"_ _0\"></span>ce to mana<span class=\"_ _0\"></span>ge those r<span class=\"_ _0\"></span>isks.<span class=\"_ _3bd\"> </span>E6.<span class=\"_ _0\"></span>2.4 Strategi<span class=\"_ _2\"></span>c risk<span class=\"_ _3bd\"> </span>Strate<span class=\"_ _0\"></span>gic risks thre<span class=\"_ _0\"></span>aten the achie<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment of the Group s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y through p<span class=\"_ _0\"></span>oor str<span class=\"_ _0\"></span>ategic dec<span class=\"_ _0\"></span>ision-mak<span class=\"_ _0\"></span>ing, impl<span class=\"_ _0\"></span>ementati<span class=\"_ _0\"></span>on or respon<span class=\"_ _0\"></span>se to chang<span class=\"_ _0\"></span>ing circum<span class=\"_ _0\"></span>stanc<span class=\"_ _0\"></span>es. Th<span class=\"_ _0\"></span>e Group rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s that core st<span class=\"_ _0\"></span>rategic ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y brings wi<span class=\"_ _0\"></span>th it exposure to s<span class=\"_ _0\"></span>trategic r<span class=\"_ _0\"></span>isk. Howeve<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>, t<span class=\"_ _0\"></span>he Group se<span class=\"_ _0\"></span>eks to proac<span class=\"_ _0\"></span>tively review, man<span class=\"_ _0\"></span>age and c<span class=\"_ _0\"></span>ontrol thes<span class=\"_ _0\"></span>e exposure<span class=\"_ _0\"></span>s. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s st<span class=\"_ _0\"></span>rategy an<span class=\"_ _0\"></span>d busines<span class=\"_ _0\"></span>s plan are exp<span class=\"_ _0\"></span>osed to ex<span class=\"_ _0\"></span>ternal eve<span class=\"_ _0\"></span>nts that co<span class=\"_ _0\"></span>uld prevent or impa<span class=\"_ _0\"></span>ct the ac<span class=\"_ _0\"></span>hievement of the s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y; events re<span class=\"_ _0\"></span>lating to how the s<span class=\"_ _0\"></span>trateg<span class=\"_ _0\"></span>y and busin<span class=\"_ _0\"></span>ess plan a<span class=\"_ _0\"></span>re executed; a<span class=\"_ _0\"></span>nd events that a<span class=\"_ _0\"></span>rise as a con<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nce of following th<span class=\"_ _0\"></span>e specifi<span class=\"_ _0\"></span>c strateg<span class=\"_ _0\"></span>y chose<span class=\"_ _0\"></span>n. The identifi<span class=\"_ _0\"></span>cation and a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of s<span class=\"_ _0\"></span>trategic ris<span class=\"_ _0\"></span>ks is an integrate<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Risk Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>ram<span class=\"_ _0\"></span>ework. Str<span class=\"_ _0\"></span>ategic ris<span class=\"_ _0\"></span>k should be c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d in para<span class=\"_ _0\"></span>llel with the Ris<span class=\"_ _0\"></span>k Universe a<span class=\"_ _0\"></span>s each of the ri<span class=\"_ _0\"></span>sks within the Risk U<span class=\"_ _0\"></span>niverse c<span class=\"_ _0\"></span>an impac<span class=\"_ _0\"></span>t the Group\u2019s strate<span class=\"_ _0\"></span>gy<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>A Strate<span class=\"_ _0\"></span>gic Risk Policy is m<span class=\"_ _0\"></span>aintaine<span class=\"_ _0\"></span>d and repor<span class=\"_ _0\"></span>ted ag<span class=\"_ _0\"></span>ainst re<span class=\"_ _0\"></span>gularly, with a par<span class=\"_ _0\"></span>ticula<span class=\"_ _0\"></span>r f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>cus on risk m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment, s<span class=\"_ _0\"></span>takeholde<span class=\"_ _0\"></span>r manag<span class=\"_ _0\"></span>ement, corp<span class=\"_ _0\"></span>orate act<span class=\"_ _0\"></span>ivity an<span class=\"_ _0\"></span>d overall repor<span class=\"_ _0\"></span>ting a<span class=\"_ _0\"></span>gainst th<span class=\"_ _0\"></span>e Group\u2019s strateg<span class=\"_ _0\"></span>ic ambitions<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>E6.<span class=\"_ _0\"></span>2.5 Operational ri<span class=\"_ _2\"></span>sk<span class=\"_ _3bd\"> </span>Ope<span class=\"_ _0\"></span>rational ri<span class=\"_ _0\"></span>sk is the risk of re<span class=\"_ _0\"></span>ductions in e<span class=\"_ _0\"></span>arnings a<span class=\"_ _0\"></span>nd/<span class=\"_ _4\"></span>or va<span class=\"_ _0\"></span>lue, throu<span class=\"_ _0\"></span>gh financia<span class=\"_ _0\"></span>l or reputat<span class=\"_ _0\"></span>ional los<span class=\"_ _0\"></span>s, from ina<span class=\"_ _0\"></span>dequate or f<span class=\"_ _0\"></span>ailed interna<span class=\"_ _0\"></span>l proces<span class=\"_ _0\"></span>ses and<span class=\"_ gs47\"> </span>s<span class=\"_ _0\"></span>ystems<span class=\"_ _0\"></span>, or from pe<span class=\"_ _0\"></span>ople-re<span class=\"_ _0\"></span>lated or ex<span class=\"_ _0\"></span>ternal event<span class=\"_ _0\"></span>s. Op<span class=\"_ _0\"></span>erational r<span class=\"_ _0\"></span>isk arises d<span class=\"_ _0\"></span>ue to failures in one o<span class=\"_ _0\"></span>r more of the following a<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>ts of our busin<span class=\"_ _0\"></span>ess:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>indire<span class=\"_ _0\"></span>ct expo<span class=\"_ _0\"></span>sures throu<span class=\"_ _0\"></span>gh outs<span class=\"_ _0\"></span>ourcing se<span class=\"_ _0\"></span>rvice p<span class=\"_ _0\"></span>roviders an<span class=\"_ _0\"></span>d suppliers<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>dire<span class=\"_ _0\"></span>ct expos<span class=\"_ _0\"></span>ures through inte<span class=\"_ _0\"></span>rnal prac<span class=\"_ _0\"></span>tices<span class=\"_ _0\"></span>, actio<span class=\"_ _0\"></span>ns or omis<span class=\"_ _0\"></span>sions;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ex<span class=\"_ _0\"></span>ternal thre<span class=\"_ _0\"></span>ats from indi<span class=\"_ _0\"></span>viduals or gro<span class=\"_ _0\"></span>ups focus<span class=\"_ _0\"></span>ed on malici<span class=\"_ _0\"></span>ous or crimina<span class=\"_ _0\"></span>l activiti<span class=\"_ _0\"></span>es, or on ex<span class=\"_ _0\"></span>terna<span class=\"_ _0\"></span>l events occ<span class=\"_ _0\"></span>urring which a<span class=\"_ _0\"></span>re not within the Group\u2019s control; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ne<span class=\"_ _0\"></span>gligen<span class=\"_ _0\"></span>ce, mal-p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>e or failure of employe<span class=\"_ _0\"></span>es, or s<span class=\"_ _0\"></span>uppliers to follo<span class=\"_ _0\"></span>w good pr<span class=\"_ _0\"></span>actice in d<span class=\"_ _0\"></span>elivering op<span class=\"_ _0\"></span>erational p<span class=\"_ _0\"></span>roces<span class=\"_ _0\"></span>ses and p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>es. It is ac<span class=\"_ _0\"></span>cepted th<span class=\"_ _0\"></span>at it is neithe<span class=\"_ _0\"></span>r possib<span class=\"_ _0\"></span>le, approp<span class=\"_ _0\"></span>riate nor cos<span class=\"_ _0\"></span>t effec<span class=\"_ _0\"></span>tive to eliminate all op<span class=\"_ _0\"></span>eration<span class=\"_ _0\"></span>al risks from the b<span class=\"_ _0\"></span>usiness a<span class=\"_ _0\"></span>s operati<span class=\"_ _0\"></span>onal risk is inhere<span class=\"_ _0\"></span>nt in any operatin<span class=\"_ _0\"></span>g environment p<span class=\"_ _0\"></span>artic<span class=\"_ _0\"></span>ularly given th<span class=\"_ _0\"></span>e regulator<span class=\"_ _0\"></span>y fram<span class=\"_ _0\"></span>ework under w<span class=\"_ _0\"></span>hich the Group o<span class=\"_ _0\"></span>perates<span class=\"_ _0\"></span>. As such t<span class=\"_ _0\"></span>he Group will tole<span class=\"_ _0\"></span>rate a deg<span class=\"_ _0\"></span>ree of opera<span class=\"_ _0\"></span>tional risk s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to appropriate an<span class=\"_ _0\"></span>d propor<span class=\"_ _0\"></span>tionate level<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontrol around t<span class=\"_ _0\"></span>he identific<span class=\"_ _0\"></span>ation, ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent and rep<span class=\"_ _0\"></span>orting of such r<span class=\"_ _0\"></span>isks. A set of op<span class=\"_ _0\"></span>eration<span class=\"_ _0\"></span>al risk policie<span class=\"_ _0\"></span>s are maintain<span class=\"_ _0\"></span>ed that se<span class=\"_ _0\"></span>t out the nat<span class=\"_ _0\"></span>ure o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e operati<span class=\"_ _0\"></span>onal risk exp<span class=\"_ _0\"></span>osure and key control<span class=\"_ _0\"></span>s in<span class=\"_ gs47\"> </span>place to control the risk.<span class=\"_ _3bd\"> </span>E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.6 C<span class=\"_ _0\"></span>ustom<span class=\"_ _0\"></span>er risk<span class=\"_ _3bd\"> </span>Cus<span class=\"_ _0\"></span>tomer risk is t<span class=\"_ _0\"></span>he risk of financ<span class=\"_ _0\"></span>ial failure, rep<span class=\"_ _0\"></span>utationa<span class=\"_ _0\"></span>l loss<span class=\"_ _0\"></span>, loss of ear<span class=\"_ _0\"></span>nings and/<span class=\"_ _2\"></span>or v<span class=\"_ _0\"></span>alue throug<span class=\"_ _0\"></span>h inappropri<span class=\"_ _0\"></span>ate or poor cu<span class=\"_ _0\"></span>stomer tre<span class=\"_ _0\"></span>atment (inclu<span class=\"_ _0\"></span>ding poor a<span class=\"_ _0\"></span>dvice). It can ar<span class=\"_ _0\"></span>ise as a result of<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Cus<span class=\"_ _0\"></span>tomer O<span class=\"_ _0\"></span>utcomes<span class=\"_ _0\"></span>: The risk tha<span class=\"_ _0\"></span>t our decisi<span class=\"_ _0\"></span>ons, a<span class=\"_ _0\"></span>ctions or b<span class=\"_ _0\"></span>ehaviors in<span class=\"_ _0\"></span>dividually or c<span class=\"_ _0\"></span>ollect<span class=\"_ _0\"></span>ively result in a fa<span class=\"_ _0\"></span>ilure to act to delive<span class=\"_ _0\"></span>r good o<span class=\"_ _0\"></span>utcomes for our cu<span class=\"_ _0\"></span>stomer<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Cus<span class=\"_ _0\"></span>tomer T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sformation: T<span class=\"_ _0\"></span>he risk that th<span class=\"_ _0\"></span>e design<span class=\"_ _0\"></span>, governan<span class=\"_ _0\"></span>ce and overs<span class=\"_ _0\"></span>ight of Strategic C<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r T<span class=\"_ _4\"></span>rans<span class=\"_ _0\"></span>formation Ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y in retained f<span class=\"_ _0\"></span>unction<span class=\"_ _0\"></span>s and s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e providers<span class=\"_ _0\"></span>, fails to deli<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r on reason<span class=\"_ _0\"></span>able cus<span class=\"_ _0\"></span>tomer exp<span class=\"_ _0\"></span>ectat<span class=\"_ _0\"></span>ions, t<span class=\"_ _0\"></span>aking acc<span class=\"_ _0\"></span>ount of the Phoe<span class=\"_ _0\"></span>nix Group cu<span class=\"_ _0\"></span>stomer tre<span class=\"_ _0\"></span>atment risk appe<span class=\"_ _0\"></span>tites and reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y<span class=\"_ gs47\"> </span>requireme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has both a C<span class=\"_ _0\"></span>onduc<span class=\"_ _0\"></span>t Risk appeti<span class=\"_ _0\"></span>te t<span class=\"_ _2\"></span>o fo<span class=\"_ _0\"></span>cus on beh<span class=\"_ _0\"></span>aviours with<span class=\"_ _0\"></span>in the busine<span class=\"_ _0\"></span>ss, a<span class=\"_ _0\"></span>nd a Custom<span class=\"_ _0\"></span>er Risk app<span class=\"_ _0\"></span>etite to focus on a<span class=\"_ _0\"></span>chieving go<span class=\"_ _0\"></span>od cus<span class=\"_ _0\"></span>tomer outc<span class=\"_ _0\"></span>omes<span class=\"_ _0\"></span>. The beh<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ours and s<span class=\"_ _0\"></span>tandar<span class=\"_ _0\"></span>ds all collea<span class=\"_ _0\"></span>gues are exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to achieve are det<span class=\"_ _0\"></span>ailed in our Gro<span class=\"_ _0\"></span>up Code of C<span class=\"_ _0\"></span>onduct<span class=\"_ _0\"></span>. For<span class=\"_ gs47\"> </span>our cus<span class=\"_ _0\"></span>tomers<span class=\"_ _0\"></span>, what rep<span class=\"_ _0\"></span>resents a g<span class=\"_ _0\"></span>ood ou<span class=\"_ _0\"></span>tcome is ar<span class=\"_ _0\"></span>ticulate<span class=\"_ _0\"></span>d in our Custom<span class=\"_ _0\"></span>er Stan<span class=\"_ _0\"></span>dards and sup<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing Busine<span class=\"_ _0\"></span>ss Unit pro<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>es. In a<span class=\"_ _0\"></span>ddition, th<span class=\"_ _0\"></span>e Group C<span class=\"_ _0\"></span>onduc<span class=\"_ _0\"></span>t Strateg<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, which over<span class=\"_ _0\"></span>arches our R<span class=\"_ _0\"></span>isk Univers<span class=\"_ _0\"></span>e and all risk p<span class=\"_ _0\"></span>olicies is de<span class=\"_ _0\"></span>signed to h<span class=\"_ _0\"></span>elp the Group m<span class=\"_ _0\"></span>eet its aim of he<span class=\"_ _0\"></span>lping peo<span class=\"_ _0\"></span>ple se<span class=\"_ _0\"></span>cure a lifetime of pos<span class=\"_ _0\"></span>sibilities<span class=\"_ _0\"></span>. It see<span class=\"_ _0\"></span>ks t<span class=\"_ _2\"></span>o d<span class=\"_ _0\"></span>o this by put<span class=\"_ _0\"></span>ting custo<span class=\"_ _0\"></span>mers at th<span class=\"_ _0\"></span>e hear<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f o<span class=\"_ _0\"></span>ur strate<span class=\"_ _0\"></span>gy and de<span class=\"_ _0\"></span>cision makin<span class=\"_ _0\"></span>g, ach<span class=\"_ _0\"></span>ieving goo<span class=\"_ _0\"></span>d custom<span class=\"_ _0\"></span>er outco<span class=\"_ _0\"></span>mes and pre<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nting forese<span class=\"_ _0\"></span>eable ha<span class=\"_ _0\"></span>rm. The Gro<span class=\"_ _0\"></span>up also ha<span class=\"_ _0\"></span>s a suite of custom<span class=\"_ _0\"></span>er police<span class=\"_ _0\"></span>s which set o<span class=\"_ _0\"></span>ut the k<span class=\"_ _2\"></span>ey c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r risks and co<span class=\"_ _0\"></span>ntrol obje<span class=\"_ _0\"></span>ctives in pla<span class=\"_ _0\"></span>ce to mitigate th<span class=\"_ _0\"></span>em. The c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>r risks for<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e Group are reg<span class=\"_ _0\"></span>ularly repo<span class=\"_ _0\"></span>rted to m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment oversig<span class=\"_ _0\"></span>ht commit<span class=\"_ _0\"></span>tees<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-658": {
   "value": "Capit<span class=\"_ _0\"></span>al mana<span class=\"_ _0\"></span>gement ri<span class=\"_ _0\"></span>sk is defined a<span class=\"_ _0\"></span>s the risk of redu<span class=\"_ _0\"></span>ctions in e<span class=\"_ _0\"></span>arnings an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or valu<span class=\"_ _0\"></span>e, throug<span class=\"_ _0\"></span>h financial or re<span class=\"_ _0\"></span>putatio<span class=\"_ _0\"></span>nal loss<span class=\"_ _0\"></span>, due to a failure to maint<span class=\"_ _0\"></span>ain suffic<span class=\"_ _0\"></span>ient capit<span class=\"_ _0\"></span>al to provide approp<span class=\"_ _0\"></span>riate sec<span class=\"_ _0\"></span>urity for p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and m<span class=\"_ _0\"></span>eet all reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y capital re<span class=\"_ _0\"></span>quireme<span class=\"_ _0\"></span>nts whilst n<span class=\"_ _0\"></span>ot retaining unne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary c<span class=\"_ _0\"></span>apital. T<span class=\"_ _0\"></span>he Group ha<span class=\"_ _0\"></span>s exposure to c<span class=\"_ _0\"></span>apital ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent risk throu<span class=\"_ _0\"></span>gh the reg<span class=\"_ _0\"></span>ulatory c<span class=\"_ _0\"></span>apital re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s mandate<span class=\"_ _0\"></span>d by the PR<span class=\"_ _0\"></span>A. The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s app<span class=\"_ _0\"></span>roach to man<span class=\"_ _0\"></span>aging ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt risk is des<span class=\"_ _0\"></span>cribed in de<span class=\"_ _0\"></span>tail in note I3<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>I3. Capital manag<span class=\"_ _0\"></span>ement<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ca<span class=\"_ _0\"></span>pital man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt is base<span class=\"_ _0\"></span>d on the princ<span class=\"_ _0\"></span>iples of Solve<span class=\"_ _0\"></span>ncy II<span class=\"_ _0\"></span>, as modifi<span class=\"_ _0\"></span>ed by the PR<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _2\"></span>s 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 reforms (<span class=\"_ _0\"></span>\u2018So<span class=\"_ _0\"></span>lvency U<span class=\"_ _0\"></span>K\u2019). This involve<span class=\"_ _0\"></span>s a<span class=\"_ gs47\"> </span>valuati<span class=\"_ _0\"></span>on of the Group\u2019s Own Funds an<span class=\"_ _0\"></span>d a risk<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ased a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s S<span class=\"_ _0\"></span>olvency Ca<span class=\"_ _0\"></span>pital Req<span class=\"_ _0\"></span>uirement (\u2018<span class=\"_ _0\"></span>SCR<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) in line with Sol<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ncy UK r<span class=\"_ _0\"></span>ules.<span class=\"_ _3bd\"> </span>This note s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>pproach to ma<span class=\"_ _0\"></span>naging c<span class=\"_ _0\"></span>apital an<span class=\"_ _0\"></span>d provides an an<span class=\"_ _0\"></span>alysis of Own Fun<span class=\"_ _0\"></span>ds and SC<span class=\"_ _0\"></span>R.<span class=\"_ _3bd\"> </span>Risk and capi<span class=\"_ _2\"></span>tal management objectives<span class=\"_ _3bd\"> </span>The ris<span class=\"_ _0\"></span>k manag<span class=\"_ _0\"></span>ement ob<span class=\"_ _0\"></span>jective<span class=\"_ _0\"></span>s and polici<span class=\"_ _0\"></span>es of the Group are b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e requireme<span class=\"_ _0\"></span>nt to protect th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capit<span class=\"_ _0\"></span>al positio<span class=\"_ _0\"></span>n, thereby<span class=\"_ _0\"></span> safeg<span class=\"_ _0\"></span>uarding p<span class=\"_ _0\"></span>olicyhold<span class=\"_ _0\"></span>ers\u2019 guar<span class=\"_ _0\"></span>anteed be<span class=\"_ _0\"></span>nefits whil<span class=\"_ _0\"></span>st also e<span class=\"_ _0\"></span>nsuring the G<span class=\"_ _0\"></span>roup can me<span class=\"_ _0\"></span>et its vari<span class=\"_ _0\"></span>ous cash fl<span class=\"_ _0\"></span>ow requirem<span class=\"_ _0\"></span>ents. S<span class=\"_ _0\"></span>ubje<span class=\"_ _0\"></span>ct to this, t<span class=\"_ _0\"></span>he Group se<span class=\"_ _0\"></span>eks to use available c<span class=\"_ _0\"></span>apital to a<span class=\"_ _0\"></span>chieve increa<span class=\"_ _0\"></span>sed retur<span class=\"_ _0\"></span>ns, ba<span class=\"_ _0\"></span>lancing ris<span class=\"_ _0\"></span>k and reward, to g<span class=\"_ _0\"></span>enerate a<span class=\"_ _0\"></span>dditional va<span class=\"_ _0\"></span>lue for policy<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>In pur<span class=\"_ _0\"></span>suing thes<span class=\"_ _0\"></span>e obje<span class=\"_ _0\"></span>ctives<span class=\"_ _0\"></span>, the Group de<span class=\"_ _0\"></span>ploys financ<span class=\"_ _0\"></span>ial and other a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and incur<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t liabilities a<span class=\"_ _0\"></span>nd financi<span class=\"_ _0\"></span>al and other lia<span class=\"_ _0\"></span>bilities. Finan<span class=\"_ _0\"></span>cial and oth<span class=\"_ _0\"></span>er asse<span class=\"_ _0\"></span>ts princip<span class=\"_ _0\"></span>ally compri<span class=\"_ _0\"></span>se investme<span class=\"_ _0\"></span>nts in equit<span class=\"_ _0\"></span>y se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, debt se<span class=\"_ _0\"></span>curities<span class=\"_ _0\"></span>, colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes, p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty, deriva<span class=\"_ _0\"></span>tives, rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e, trade an<span class=\"_ _0\"></span>d other rec<span class=\"_ _0\"></span>eivables<span class=\"_ _0\"></span>, and ban<span class=\"_ _0\"></span>king depo<span class=\"_ _0\"></span>sits. F<span class=\"_ _0\"></span>inancial li<span class=\"_ _0\"></span>abilities prin<span class=\"_ _0\"></span>cipally com<span class=\"_ _0\"></span>prise invest<span class=\"_ _0\"></span>ment contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, borrow<span class=\"_ _0\"></span>ings for finan<span class=\"_ _0\"></span>cing purpo<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, derivative liabilit<span class=\"_ _0\"></span>ies and net a<span class=\"_ _0\"></span>sset valu<span class=\"_ _0\"></span>e attrib<span class=\"_ _0\"></span>utable to unith<span class=\"_ _0\"></span>olders<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Risk M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement Framewo<span class=\"_ _0\"></span>rk is describ<span class=\"_ _0\"></span>ed in the ris<span class=\"_ _0\"></span>k manag<span class=\"_ _0\"></span>ement com<span class=\"_ _0\"></span>mentar<span class=\"_ _0\"></span>y on pag<span class=\"_ _0\"></span>es 46 to 5<span class=\"_ _0\"></span>7 o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Annual Rep<span class=\"_ _0\"></span>ort an<span class=\"_ _0\"></span>d Account<span class=\"_ _0\"></span>s and th<span class=\"_ _0\"></span>e Risk Univer<span class=\"_ _0\"></span>se compo<span class=\"_ _0\"></span>nent of this fram<span class=\"_ _0\"></span>ework summa<span class=\"_ _0\"></span>rises the c<span class=\"_ _0\"></span>omprehen<span class=\"_ _0\"></span>sive set of risks to whic<span class=\"_ _0\"></span>h the Group is exp<span class=\"_ _0\"></span>osed<span class=\"_ _0\"></span>. The maj<span class=\"_ _0\"></span>or risks (\u2018<span class=\"_ _0\"></span>Level 1\u2019 ri<span class=\"_ _0\"></span>sks) that the Group\u2019s busin<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s are expose<span class=\"_ _0\"></span>d to and the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s appro<span class=\"_ _0\"></span>ach to man<span class=\"_ _0\"></span>aging tho<span class=\"_ _0\"></span>se risks are outlin<span class=\"_ _0\"></span>ed in the followin<span class=\"_ _0\"></span>g notes:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>note E6<span class=\"_ _0\"></span>: Credit risk<span class=\"_ _0\"></span>, market risk, fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>oundnes<span class=\"_ _0\"></span>s risk, s<span class=\"_ _0\"></span>trategi<span class=\"_ _0\"></span>c risk, cu<span class=\"_ _0\"></span>stomer ris<span class=\"_ _0\"></span>k and oper<span class=\"_ _0\"></span>ational ris<span class=\"_ _0\"></span>k; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>note F11<span class=\"_ _0\"></span>: Insuran<span class=\"_ _0\"></span>ce risk<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>ection o<span class=\"_ _0\"></span>n capital m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment obj<span class=\"_ _0\"></span>ectives i<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>d below. Capital Management<span class=\"_ _2\"></span> Framewor<span class=\"_ _2\"></span>k<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s Cap<span class=\"_ _0\"></span>ital Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>mework is des<span class=\"_ _0\"></span>igned to ac<span class=\"_ _0\"></span>hieve the following ob<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>tives:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>to provide a<span class=\"_ _0\"></span>ppropriate se<span class=\"_ _0\"></span>curit<span class=\"_ _0\"></span>y for policy<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s and mee<span class=\"_ _0\"></span>t all regulator<span class=\"_ _0\"></span>y cap<span class=\"_ _0\"></span>ital require<span class=\"_ _0\"></span>ments un<span class=\"_ _0\"></span>der the So<span class=\"_ _0\"></span>lvency UK re<span class=\"_ _0\"></span>gime while n<span class=\"_ _0\"></span>ot retaining unne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>ary exc<span class=\"_ _0\"></span>ess ca<span class=\"_ _0\"></span>pital, op<span class=\"_ _0\"></span>erating wi<span class=\"_ _0\"></span>thin a Solvenc<span class=\"_ _0\"></span>y II Sh<span class=\"_ _0\"></span>areholde<span class=\"_ _0\"></span>r Capital C<span class=\"_ _0\"></span>overage r<span class=\"_ _0\"></span>atio of 140<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>80%;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>to ens<span class=\"_ _0\"></span>ure suffic<span class=\"_ _0\"></span>ient liquidit<span class=\"_ _0\"></span>y to meet o<span class=\"_ _0\"></span>bligations to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders and ot<span class=\"_ _0\"></span>her creditor<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>to man<span class=\"_ _0\"></span>age the le<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage po<span class=\"_ _0\"></span>sition, in<span class=\"_ _0\"></span>cluding optimi<span class=\"_ _0\"></span>sation of the S<span class=\"_ _0\"></span>olvency I<span class=\"_ _0\"></span>I leverag<span class=\"_ _0\"></span>e ratio and the F<span class=\"_ _0\"></span>itch leverag<span class=\"_ _0\"></span>e ratio to maint<span class=\"_ _0\"></span>ain an investme<span class=\"_ _0\"></span>nt gra<span class=\"_ _0\"></span>de credit rat<span class=\"_ _0\"></span>ing; and \u2022 <span class=\"_ _19\"> </span>to maint<span class=\"_ _0\"></span>ain a dividen<span class=\"_ _0\"></span>d policy to pay an or<span class=\"_ _0\"></span>dinary di<span class=\"_ _0\"></span>vidend tha<span class=\"_ _0\"></span>t is progres<span class=\"_ _0\"></span>sive and sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le.<span class=\"_ _3bd\"> </span>The fr<span class=\"_ _0\"></span>amework co<span class=\"_ _0\"></span>mprises a s<span class=\"_ _0\"></span>uite o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>apital m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment polici<span class=\"_ _0\"></span>es that govern t<span class=\"_ _0\"></span>he alloca<span class=\"_ _0\"></span>tion of capita<span class=\"_ _0\"></span>l througho<span class=\"_ _0\"></span>ut the Group to a<span class=\"_ _0\"></span>chieve the<span class=\"_ gs47\"> </span>fra<span class=\"_ _0\"></span>mework obj<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>s under a ran<span class=\"_ _0\"></span>ge of stres<span class=\"_ _0\"></span>s conditio<span class=\"_ _0\"></span>ns. The p<span class=\"_ _0\"></span>olicy suite is de<span class=\"_ _0\"></span>fined with refere<span class=\"_ _0\"></span>nce to polic<span class=\"_ _0\"></span>yholder s<span class=\"_ _0\"></span>ecurit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, c<span class=\"_ _0\"></span>reditor oblig<span class=\"_ _0\"></span>ations<span class=\"_ _0\"></span>, owner di<span class=\"_ _0\"></span>vidend po<span class=\"_ _0\"></span>licy and re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y capita<span class=\"_ _0\"></span>l requireme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>Group capital<span class=\"_ _3bd\"> </span>Group c<span class=\"_ _0\"></span>apital is m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d on a Solven<span class=\"_ _0\"></span>cy UK ba<span class=\"_ _0\"></span>sis, un<span class=\"_ _0\"></span>der which the p<span class=\"_ _0\"></span>rimar<span class=\"_ _0\"></span>y sources of c<span class=\"_ _0\"></span>apital ma<span class=\"_ _0\"></span>nage<span class=\"_ _0\"></span>d by the Group co<span class=\"_ _0\"></span>mprise the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s O<span class=\"_ _0\"></span>wn Funds as m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der Sol<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ncy UK r<span class=\"_ _0\"></span>ules adju<span class=\"_ _0\"></span>sted to exclu<span class=\"_ _0\"></span>de surplus fun<span class=\"_ _0\"></span>ds attr<span class=\"_ _0\"></span>ibutable to th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s un<span class=\"_ _0\"></span>suppor<span class=\"_ _0\"></span>ted with-p<span class=\"_ _0\"></span>rofits fund<span class=\"_ _0\"></span>s and unsupported pensi<span class=\"_ _2\"></span>on schemes. A Sol<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ncy UK c<span class=\"_ _0\"></span>apital as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment involves val<span class=\"_ _0\"></span>uation in line with S<span class=\"_ _0\"></span>olvency U<span class=\"_ _0\"></span>K rules of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s O<span class=\"_ _0\"></span>wn Funds and a risk-ba<span class=\"_ _0\"></span>sed as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of the Group\u2019s Solven<span class=\"_ _0\"></span>cy Capit<span class=\"_ _0\"></span>al Requirem<span class=\"_ _0\"></span>ent (\u2018<span class=\"_ _0\"></span>SCR<span class=\"_ _0\"></span>\u2019). S<span class=\"_ _0\"></span>olvency I<span class=\"_ _0\"></span>I surplus is the e<span class=\"_ _0\"></span>xcess of O<span class=\"_ _0\"></span>wn F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds over the SC<span class=\"_ _0\"></span>R.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up aims to mainta<span class=\"_ _0\"></span>in a Solvenc<span class=\"_ _0\"></span>y II surplu<span class=\"_ _0\"></span>s at least e<span class=\"_ _0\"></span>qual to its B<span class=\"_ _0\"></span>oard-ap<span class=\"_ _0\"></span>proved capit<span class=\"_ _0\"></span>al policy, which refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s Board risk ap<span class=\"_ _0\"></span>petite for me<span class=\"_ _0\"></span>eting prevailin<span class=\"_ _0\"></span>g solvenc<span class=\"_ _0\"></span>y requireme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>apital po<span class=\"_ _0\"></span>licy of each Life C<span class=\"_ _0\"></span>ompany is set a<span class=\"_ _0\"></span>nd monitore<span class=\"_ _0\"></span>d by each Life Com<span class=\"_ _0\"></span>pany Board<span class=\"_ _0\"></span>. These p<span class=\"_ _0\"></span>olicies ens<span class=\"_ _0\"></span>ure there is suf<span class=\"_ _0\"></span>ficient c<span class=\"_ _0\"></span>apital with<span class=\"_ _0\"></span>in eac<span class=\"_ _0\"></span>h Life Company to me<span class=\"_ _0\"></span>et regul<span class=\"_ _0\"></span>atory c<span class=\"_ _0\"></span>apital req<span class=\"_ _0\"></span>uirement<span class=\"_ _0\"></span>s under a ran<span class=\"_ _0\"></span>ge of stres<span class=\"_ _0\"></span>s condition<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>apital p<span class=\"_ _0\"></span>olicy of each Life C<span class=\"_ _0\"></span>ompany varie<span class=\"_ _0\"></span>s acc<span class=\"_ _0\"></span>ording to the ris<span class=\"_ _0\"></span>k profile and finan<span class=\"_ _0\"></span>cial stre<span class=\"_ _0\"></span>ngth of the co<span class=\"_ _0\"></span>mpany<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>apital po<span class=\"_ _0\"></span>licy of each G<span class=\"_ _0\"></span>roup Holdin<span class=\"_ _0\"></span>g Company is de<span class=\"_ _0\"></span>signed to e<span class=\"_ _0\"></span>nsure that th<span class=\"_ _0\"></span>ere is suffi<span class=\"_ _0\"></span>cient liquidit<span class=\"_ _0\"></span>y to mee<span class=\"_ _0\"></span>t creditor oblig<span class=\"_ _0\"></span>ations thro<span class=\"_ _0\"></span>ugh the comb<span class=\"_ _0\"></span>ination of cas<span class=\"_ _0\"></span>h buffer<span class=\"_ _0\"></span>s and cas<span class=\"_ _0\"></span>h flows from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s op<span class=\"_ _0\"></span>erating co<span class=\"_ _0\"></span>mpanies<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Own Fun<span class=\"_ _0\"></span>ds and S<span class=\"_ _0\"></span>CR<span class=\"_ _3bd\"> </span>Basi<span class=\"_ _0\"></span>c Own Funds repre<span class=\"_ _0\"></span>sents th<span class=\"_ _0\"></span>e excess of as<span class=\"_ _0\"></span>sets over li<span class=\"_ _0\"></span>abilities from th<span class=\"_ _0\"></span>e Solvenc<span class=\"_ _0\"></span>y II balan<span class=\"_ _0\"></span>ce she<span class=\"_ _0\"></span>et adjus<span class=\"_ _0\"></span>ted to add b<span class=\"_ _0\"></span>ack any relevant s<span class=\"_ _0\"></span>ubordinated liabilitie<span class=\"_ _0\"></span>s that me<span class=\"_ _0\"></span>et the criteria to b<span class=\"_ _0\"></span>e treated as c<span class=\"_ _0\"></span>apital ite<span class=\"_ _0\"></span>ms.<span class=\"_ _3bd\"> </span>The B<span class=\"_ _0\"></span>asic Own Funds a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed into three T<span class=\"_ _0\"></span>iers bas<span class=\"_ _0\"></span>ed on pe<span class=\"_ _0\"></span>rmanen<span class=\"_ _0\"></span>cy and los<span class=\"_ _0\"></span>s absorb<span class=\"_ _0\"></span>ency (<span class=\"_ _0\"></span>Tier 1 b<span class=\"_ _0\"></span>eing the hig<span class=\"_ _0\"></span>hest qu<span class=\"_ _0\"></span>ality an<span class=\"_ _0\"></span>d Tier 3 the lowes<span class=\"_ _0\"></span>t). The Group\u2019s Own Funds a<span class=\"_ _0\"></span>re asse<span class=\"_ _0\"></span>ssed for t<span class=\"_ _0\"></span>heir eligibilit<span class=\"_ _0\"></span>y to cover the G<span class=\"_ _0\"></span>roup SCR w<span class=\"_ _0\"></span>ith reference to b<span class=\"_ _0\"></span>oth the qualit<span class=\"_ _0\"></span>y of capit<span class=\"_ _0\"></span>al and its availabilit<span class=\"_ _0\"></span>y and tr<span class=\"_ _0\"></span>ansfera<span class=\"_ _0\"></span>bility. Surplu<span class=\"_ _0\"></span>s funds in with-<span class=\"_ _0\"></span>profits fund<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Life Compani<span class=\"_ _0\"></span>es and in the p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes are re<span class=\"_ _0\"></span>stricte<span class=\"_ _0\"></span>d and ca<span class=\"_ _0\"></span>n only be inclu<span class=\"_ _0\"></span>ded in Eligible O<span class=\"_ _0\"></span>wn Funds up to the val<span class=\"_ _0\"></span>ue of the SCR th<span class=\"_ _0\"></span>ey are used to s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Eligible O<span class=\"_ _0\"></span>wn Funds to cover th<span class=\"_ _0\"></span>e SCR are obt<span class=\"_ _0\"></span>ained af<span class=\"_ _0\"></span>ter applyin<span class=\"_ _0\"></span>g the presc<span class=\"_ _0\"></span>ribed Ti<span class=\"_ _0\"></span>ering limits a<span class=\"_ _0\"></span>nd availabilit<span class=\"_ _0\"></span>y restr<span class=\"_ _0\"></span>ictions to th<span class=\"_ _0\"></span>e Basic Own Fun<span class=\"_ _0\"></span>ds.<span class=\"_ _3bd\"> </span>The S<span class=\"_ _0\"></span>CR is calib<span class=\"_ _0\"></span>rated so th<span class=\"_ _0\"></span>at the lik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lihood of a los<span class=\"_ _0\"></span>s excee<span class=\"_ _0\"></span>ding the SC<span class=\"_ _0\"></span>R is less th<span class=\"_ _0\"></span>an 0.5% over on<span class=\"_ _0\"></span>e year<span class=\"_ _2\"></span>. This e<span class=\"_ _0\"></span>nsures that c<span class=\"_ _0\"></span>apital is s<span class=\"_ _0\"></span>ufficie<span class=\"_ _0\"></span>nt to<span class=\"_ gs47\"> </span>withs<span class=\"_ _0\"></span>tand a bro<span class=\"_ _0\"></span>adly \u2018<span class=\"_ _0\"></span>1 in 200<span class=\"_ _0\"></span>-year event<span class=\"_ _0\"></span>\u2019<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up operate<span class=\"_ _0\"></span>s an Internal M<span class=\"_ _0\"></span>odel to ca<span class=\"_ _0\"></span>lculate Group S<span class=\"_ _0\"></span>CR<span class=\"_ _0\"></span>, all Group com<span class=\"_ _0\"></span>panies are wit<span class=\"_ _0\"></span>hin the scop<span class=\"_ _0\"></span>e of the single inter<span class=\"_ _0\"></span>nal mode<span class=\"_ _0\"></span>l, with the excepti<span class=\"_ _0\"></span>on of acquired Re<span class=\"_ _0\"></span>Assure b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>ses, th<span class=\"_ _0\"></span>e Irish life entitie<span class=\"_ _0\"></span>s, Sta<span class=\"_ _0\"></span>ndard Life Interna<span class=\"_ _0\"></span>tional De<span class=\"_ _0\"></span>signated Ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y an<span class=\"_ _0\"></span>d Phoeni<span class=\"_ _0\"></span>x Lif<span class=\"_ _2\"></span>e As<span class=\"_ _0\"></span>surance Euro<span class=\"_ _0\"></span>pe Desig<span class=\"_ _0\"></span>nated Act<span class=\"_ _0\"></span>ivity C<span class=\"_ _0\"></span>ompany, and Phoe<span class=\"_ _0\"></span>nix Life CA Limited (formerly kn<span class=\"_ _0\"></span>own as Sun Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y of<span class=\"_ gs47\"> </span>Ca<span class=\"_ _0\"></span>nada (U.<span class=\"_ _0\"></span>K.) Limited<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>, w<span class=\"_ _0\"></span>hich determine t<span class=\"_ _0\"></span>heir capit<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with the Sta<span class=\"_ _0\"></span>ndard Formula<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Group capital<span class=\"_ _2\"></span> resources \u2013 unaudited<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up capit<span class=\"_ _0\"></span>al resourc<span class=\"_ _0\"></span>es prese<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d on a shareh<span class=\"_ _0\"></span>older ba<span class=\"_ _0\"></span>sis, are b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Elig<span class=\"_ _0\"></span>ible Own Funds a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>ted to remove amo<span class=\"_ _0\"></span>unts per<span class=\"_ _0\"></span>tainin<span class=\"_ _0\"></span>g to unsuppor<span class=\"_ _0\"></span>ted with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds and Group p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w9b5 h2ca\" id=\"_caeb0086-1a45-40c4-ac7c-f58f6dc7543b\"><tr><td></td><td class=\"t m0 x1ce ha y63c8 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span><span class=\"ff2 ls1 ws1\"> </span></td><td class=\"t m0 x1cd ha y63c8 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td class=\"t m0 x21a ha y63c9 ff2 fs5 fc3 sc0 lsa8 wsa3\">Unaudited<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55b h29 y63c9 ff3 fs5 fc3 sc0 ls21 ws23\">\u00a3bn<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55c ha y63c9 ff2 fs5 fc3 sc0 ls36 ws33\">\u00a3bn<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y63ca wdca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">PG<span class=\"_ _0\"></span>H plc Eligib<span class=\"_ _0\"></span>le Own Fund<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2213 y63ca wdcb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">10.3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2214 y63ca wdcc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">11.1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y63cb ff2 fs6 fc3 sc0 ls1 ws1\">Remove O<span class=\"_ _0\"></span>wn Funds per<span class=\"_ _0\"></span>tainin<span class=\"_ _0\"></span>g t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>suppor<span class=\"_ _0\"></span>ted with-p<span class=\"_ _0\"></span>rofits fund<span class=\"_ _0\"></span>s and pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></td><td class=\"c n x19c7 y63cc wdcd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>.9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2215 y63cc w4d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2.<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 wdce h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Group capital resources<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2216 y5b44 wdcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">8.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2217 y5b44 wd7b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">8.9<span class=\"_ _3bd\"> </span></div></td></tr></table>Rec<span class=\"_ _0\"></span>onci<span class=\"_ _0\"></span>liatio<span class=\"_ _0\"></span>n betw<span class=\"_ _0\"></span>een IFRS e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y and es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>ted Elig<span class=\"_ _0\"></span>ible O<span class=\"_ _0\"></span>wn Funds un<span class=\"_ _0\"></span>der So<span class=\"_ _0\"></span>lvency I<span class=\"_ _0\"></span>I A rec<span class=\"_ _0\"></span>onciliation s<span class=\"_ _0\"></span>ummarising t<span class=\"_ _0\"></span>he k<span class=\"_ _2\"></span>ey dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>es bet<span class=\"_ _0\"></span>ween total I<span class=\"_ _0\"></span>FRS equit<span class=\"_ _0\"></span>y and th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s Elig<span class=\"_ _0\"></span>ible Own Funds un<span class=\"_ _0\"></span>der Solve<span class=\"_ _0\"></span>ncy II is s<span class=\"_ _0\"></span>hown in the following table:<span class=\"_ _3bd\"> </span><table class=\"s wdd0 h2cb\" id=\"_c99cc24a-cdb9-420e-ae03-b3971574ca3c\"><tr><td></td><td class=\"t m0 x5a2 h29 y63cd ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y63cd ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x55b h29 y63ce ff3 fs5 fc3 sc0 ls21 ws23\">\u00a3bn<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafc ha y63ce ff2 fs5 fc3 sc0 ls36 ws33\">\u00a3bn<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5c1d wdd1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal IFRS equity<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2218 y5c1d wdd2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">2.<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2219 y5c1d wdd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cc6 wdd4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct non<span class=\"_ _0\"></span>-controlling inte<span class=\"_ _0\"></span>rests<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221a y5cc6 w9ca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(0.5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221b y5cc6 wdd5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(<span class=\"_ _0\"></span>0.5)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d35 wdd6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>duct go<span class=\"_ _0\"></span>odwill, inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d deferred ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221c y5d35 wdcd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1.<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221d y5d35 wdd7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">(2.1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b31 wdd8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Revalua<span class=\"_ _0\"></span>tion of subordinate<span class=\"_ _0\"></span>d liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x734 y5b31 w105 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">0.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x221e y5b31 wdd9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">0.<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b32 wdda h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net imp<span class=\"_ _0\"></span>act of valuin<span class=\"_ _0\"></span>g t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnica<span class=\"_ _0\"></span>l provisions<span class=\"_ _0\"></span>, net of reinsur<span class=\"_ _0\"></span>ance rec<span class=\"_ _0\"></span>overables</div><div class=\"t m0 x221f h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x2220 hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">, on So<span class=\"_ _0\"></span>lvency II b<span class=\"_ _0\"></span>asis</div><div class=\"t m0 x2221 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x730 y5b32 wddb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls2c ws179\">11<span class=\"_ _0\"></span>.6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2222 y5b32 w9ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">10.6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b33 w4a6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax imp<span class=\"_ _0\"></span>act of valuati<span class=\"_ _0\"></span>on differen<span class=\"_ _0\"></span>ces</div><div class=\"t m0 x94c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5b33 wdcd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>.1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2215 y5b33 wddc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>.0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b34 wddd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other valua<span class=\"_ _2\"></span>tion di<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>erences</div><div class=\"t m0 x2223 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5c48 wdde h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">(0.1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2224 y5c48 wddf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(0.2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 wde0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Exc<span class=\"_ _0\"></span>ess of as<span class=\"_ _0\"></span>sets ove<span class=\"_ _0\"></span>r liabiliti<span class=\"_ _0\"></span>es under S<span class=\"_ _0\"></span>olvenc<span class=\"_ _0\"></span>y II<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2225 y5a12 wde1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">10.4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2226 y5a12 w9df h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10.8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a45 wde2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Sub<span class=\"_ _0\"></span>ordinated liab<span class=\"_ _0\"></span>ilities</div><div class=\"t m0 x2227 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2228 y5a45 w270 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139f y5a45 w29e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a46 wde3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ring<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>fen<span class=\"_ _0\"></span>ced fun<span class=\"_ _0\"></span>d restric<span class=\"_ _0\"></span>tions</div><div class=\"t m0 x2229 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5a46 wde4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls2c ws179\">(2.6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222a y5a46 w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2.2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b25 wa76 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er availabilit<span class=\"_ _0\"></span>y restr<span class=\"_ _0\"></span>ictions</div><div class=\"t m0 x1e20 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c7 y5b25 wde5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(0.8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222b y5b25 wddc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>.0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wde6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">PG<span class=\"_ _0\"></span>HP plc eli<span class=\"_ _0\"></span>gible own f<span class=\"_ _0\"></span>unds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222c y5a16 wde7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>0.3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222d y5a16 wde8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">11<span class=\"_ _0\"></span>.1<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span> The<span class=\"_ _0\"></span>se bal<span class=\"_ _0\"></span>ance<span class=\"_ _0\"></span>s are una<span class=\"_ _0\"></span>udite<span class=\"_ _0\"></span>d and re<span class=\"_ _0\"></span>flect S<span class=\"_ _0\"></span>olve<span class=\"_ _0\"></span>ncy I<span class=\"_ _0\"></span>I adju<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nts<span class=\"_ _0\"></span>. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-588": {
   "value": "F<span class=\"_ _4\"></span>. Insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>racts<span class=\"_ _0\"></span>, investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts with DPF a<span class=\"_ _0\"></span>nd reinsur<span class=\"_ _0\"></span>ance<span class=\"_ _3bd\"> </span>F1<span class=\"_ _0\"></span>. Liabilities under in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Classification Contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der which th<span class=\"_ _0\"></span>e Group acc<span class=\"_ _0\"></span>epts sign<span class=\"_ _0\"></span>ificant insur<span class=\"_ _0\"></span>ance risk a<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s. Contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld by the Gro<span class=\"_ _0\"></span>up under which it tr<span class=\"_ _0\"></span>ansfer<span class=\"_ _0\"></span>s significa<span class=\"_ _0\"></span>nt insuranc<span class=\"_ _0\"></span>e risk relate<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o un<span class=\"_ _0\"></span>derlying in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are clas<span class=\"_ _0\"></span>sified a<span class=\"_ _0\"></span>s reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. Some co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s entere<span class=\"_ _0\"></span>d into by the Group have the l<span class=\"_ _0\"></span>egal form of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s but do not tr<span class=\"_ _0\"></span>ansfer sig<span class=\"_ _0\"></span>nificant ins<span class=\"_ _0\"></span>urance ris<span class=\"_ _0\"></span>k and expos<span class=\"_ _0\"></span>e the Group to finan<span class=\"_ _0\"></span>cial risk. T<span class=\"_ _0\"></span>hese co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are clas<span class=\"_ _0\"></span>sified as fina<span class=\"_ _0\"></span>ncial liabilit<span class=\"_ _0\"></span>ies and are referre<span class=\"_ _0\"></span>d to as investm<span class=\"_ _0\"></span>ent contrac<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>All referen<span class=\"_ _0\"></span>ces in thes<span class=\"_ _0\"></span>e acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s to insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts and re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts incl<span class=\"_ _0\"></span>ude contra<span class=\"_ _0\"></span>cts is<span class=\"_ _0\"></span>sued, in<span class=\"_ _0\"></span>itiated or ac<span class=\"_ _0\"></span>quired by the Group, unl<span class=\"_ _0\"></span>ess othe<span class=\"_ _0\"></span>rwise s<span class=\"_ _0\"></span>tated<span class=\"_ _0\"></span>. Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s are class<span class=\"_ _0\"></span>ified as dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts or contra<span class=\"_ _0\"></span>cts wit<span class=\"_ _0\"></span>hout direc<span class=\"_ _0\"></span>t par<span class=\"_ _0\"></span>ticipation feat<span class=\"_ _0\"></span>ures. Dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contr<span class=\"_ _0\"></span>acts are c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts for which<span class=\"_ _0\"></span>, at inceptio<span class=\"_ _0\"></span>n:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>tual terms sp<span class=\"_ _0\"></span>ecif<span class=\"_ _0\"></span>y that the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der par<span class=\"_ _0\"></span>ticipates in a sh<span class=\"_ _0\"></span>are of a clearly id<span class=\"_ _0\"></span>entified p<span class=\"_ _0\"></span>ool of underly<span class=\"_ _0\"></span>ing items;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup expe<span class=\"_ _0\"></span>cts to pay to the p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder an amo<span class=\"_ _0\"></span>unt equal to a sub<span class=\"_ _0\"></span>stantial s<span class=\"_ _0\"></span>hare of the fair val<span class=\"_ _0\"></span>ue returns on th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g items; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup expe<span class=\"_ _0\"></span>cts a subs<span class=\"_ _0\"></span>tantial p<span class=\"_ _0\"></span>ropor<span class=\"_ _0\"></span>tion of any chang<span class=\"_ _0\"></span>e in the amount<span class=\"_ _0\"></span>s to be paid to the p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder to var<span class=\"_ _0\"></span>y with the ch<span class=\"_ _0\"></span>ange in fair val<span class=\"_ _0\"></span>ue of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s. All other in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts and all rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s contrac<span class=\"_ _0\"></span>ts witho<span class=\"_ _0\"></span>ut direct p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ation feature<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Som<span class=\"_ _0\"></span>e investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>ts iss<span class=\"_ _0\"></span>ued by the Gro<span class=\"_ _0\"></span>up contain dis<span class=\"_ _0\"></span>cretionar<span class=\"_ _0\"></span>y par<span class=\"_ _0\"></span>ticipation fe<span class=\"_ _0\"></span>atures (\u2018<span class=\"_ _0\"></span>DPF<span class=\"_ _0\"></span>\u2019), where<span class=\"_ _0\"></span>by the investor h<span class=\"_ _0\"></span>as the right an<span class=\"_ _0\"></span>d is expe<span class=\"_ _0\"></span>cted to re<span class=\"_ _0\"></span>ceive, as a s<span class=\"_ _0\"></span>upplement to th<span class=\"_ _0\"></span>e amount not s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the Group\u2019s discretion<span class=\"_ _0\"></span>, potentiall<span class=\"_ _0\"></span>y significant a<span class=\"_ _0\"></span>dditional b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s based o<span class=\"_ _0\"></span>n the return of sp<span class=\"_ _0\"></span>ecified p<span class=\"_ _0\"></span>ools of invest<span class=\"_ _0\"></span>ment ass<span class=\"_ _0\"></span>ets. T<span class=\"_ _0\"></span>he Group ac<span class=\"_ _0\"></span>counts for th<span class=\"_ _0\"></span>ese contr<span class=\"_ _0\"></span>acts un<span class=\"_ _0\"></span>der IFRS 17 c<span class=\"_ _0\"></span>onsis<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nt with insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The cl<span class=\"_ _0\"></span>assific<span class=\"_ _0\"></span>ation ass<span class=\"_ _0\"></span>essm<span class=\"_ _0\"></span>ent is made at t<span class=\"_ _0\"></span>he date of inceptio<span class=\"_ _0\"></span>n or for busine<span class=\"_ _0\"></span>ss combin<span class=\"_ _0\"></span>ations or po<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>folio transfe<span class=\"_ _0\"></span>rs, as a<span class=\"_ _0\"></span>t the date of acquis<span class=\"_ _0\"></span>ition. Onc<span class=\"_ _0\"></span>e a contrac<span class=\"_ _0\"></span>t is ass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce, inves<span class=\"_ _0\"></span>tment with D<span class=\"_ _0\"></span>PF or reinsuran<span class=\"_ _0\"></span>ce, the c<span class=\"_ _0\"></span>lassific<span class=\"_ _0\"></span>ation contin<span class=\"_ _0\"></span>ues until the co<span class=\"_ _0\"></span>ntract is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed or mod<span class=\"_ _0\"></span>ified.<span class=\"_ _3bd\"> </span>When c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ing clas<span class=\"_ _0\"></span>sification<span class=\"_ _0\"></span>, and appl<span class=\"_ _0\"></span>ying the provisio<span class=\"_ _0\"></span>ns of IFRS 17<span class=\"_ _2\"></span>, the G<span class=\"_ _0\"></span>roup identifie<span class=\"_ _0\"></span>s a contrac<span class=\"_ _0\"></span>t as the sma<span class=\"_ _0\"></span>llest unit of ac<span class=\"_ _0\"></span>count. Th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>Group also m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s an evaluation of whe<span class=\"_ _0\"></span>ther a seri<span class=\"_ _0\"></span>es of contrac<span class=\"_ _0\"></span>ts can b<span class=\"_ _0\"></span>e treated to<span class=\"_ _0\"></span>gether in ap<span class=\"_ _0\"></span>plying IFR<span class=\"_ _0\"></span>S 17 base<span class=\"_ _0\"></span>d on reason<span class=\"_ _0\"></span>able and sup<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>table informatio<span class=\"_ _0\"></span>n, or wheth<span class=\"_ _0\"></span>er a single c<span class=\"_ _0\"></span>ontract c<span class=\"_ _0\"></span>ontains co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>s that ne<span class=\"_ _0\"></span>ed to be sep<span class=\"_ _0\"></span>arated an<span class=\"_ _0\"></span>d treated as if th<span class=\"_ _0\"></span>ey were stan<span class=\"_ _0\"></span>d-alone c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>Accou<span class=\"_ _0\"></span>nting treatm<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span>Separating components from insurance and re<span class=\"_ _2\"></span>insuranc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> contract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up asse<span class=\"_ _0\"></span>sses i<span class=\"_ _0\"></span>ts insuran<span class=\"_ _0\"></span>ce produ<span class=\"_ _0\"></span>cts to deter<span class=\"_ _0\"></span>mine whethe<span class=\"_ _0\"></span>r they conta<span class=\"_ _0\"></span>in compon<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>, which mus<span class=\"_ _0\"></span>t be acco<span class=\"_ _0\"></span>unted for under a<span class=\"_ _0\"></span>ccountin<span class=\"_ _0\"></span>g st<span class=\"_ _0\"></span>andards othe<span class=\"_ _0\"></span>r than IFR<span class=\"_ _0\"></span>S 17 (<span class=\"_ _2\"></span>dis<span class=\"_ _0\"></span>tinct n<span class=\"_ _0\"></span>on-insuran<span class=\"_ _0\"></span>ce comp<span class=\"_ _0\"></span>onents).<span class=\"_ _3bd\"> </span>Where a<span class=\"_ _0\"></span>n insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t has a dis<span class=\"_ _0\"></span>tinct inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent and m<span class=\"_ _0\"></span>eets th<span class=\"_ _0\"></span>e separ<span class=\"_ _0\"></span>ation criteria e<span class=\"_ _0\"></span>stablis<span class=\"_ _0\"></span>hed unde<span class=\"_ _0\"></span>r IFRS 17<span class=\"_ _2\"></span>, the inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent is se<span class=\"_ _0\"></span>parated fro<span class=\"_ _0\"></span>m the hos<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>t and acc<span class=\"_ _0\"></span>ounted for unde<span class=\"_ _0\"></span>r IFRS 9. Th<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ssment of wh<span class=\"_ _0\"></span>ether a contr<span class=\"_ _0\"></span>act ha<span class=\"_ _0\"></span>s a distinc<span class=\"_ _0\"></span>t inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment comp<span class=\"_ _0\"></span>onent is c<span class=\"_ _0\"></span>arried out a<span class=\"_ _0\"></span>t inception of th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t, or the date of a<span class=\"_ _0\"></span>cquisition in th<span class=\"_ _0\"></span>e case of a bu<span class=\"_ _0\"></span>siness c<span class=\"_ _0\"></span>ombination<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>When a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing whet<span class=\"_ _0\"></span>her the inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>onent is dis<span class=\"_ _0\"></span>tinct<span class=\"_ _0\"></span>, the Group co<span class=\"_ _0\"></span>nsiders t<span class=\"_ _0\"></span>he following<span class=\"_ _0\"></span>, which may indic<span class=\"_ _0\"></span>ate that the in<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>nd investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>onent are high<span class=\"_ _0\"></span>ly interrelated:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the va<span class=\"_ _0\"></span>lue of one comp<span class=\"_ _0\"></span>onent varie<span class=\"_ _0\"></span>s with the other c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>exis<span class=\"_ _0\"></span>tence of an opti<span class=\"_ _0\"></span>on to switch bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he different c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nts;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>dis<span class=\"_ _0\"></span>counts th<span class=\"_ _0\"></span>at span both el<span class=\"_ _0\"></span>ements e<span class=\"_ _0\"></span>.g. a redu<span class=\"_ _0\"></span>ced as<span class=\"_ _0\"></span>set mana<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nt charge ba<span class=\"_ _0\"></span>sed on tota<span class=\"_ _0\"></span>l si<span class=\"_ _2\"></span>ze of contr<span class=\"_ _0\"></span>act; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r interactin<span class=\"_ _0\"></span>g features e.<span class=\"_ _0\"></span>g. insura<span class=\"_ _0\"></span>nce risk from p<span class=\"_ _0\"></span>remium waiver<span class=\"_ _0\"></span>s and return of prem<span class=\"_ _0\"></span>ium covering both e<span class=\"_ _0\"></span>lement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e policy.<span class=\"_ _3bd\"> </span>Afte<span class=\"_ _0\"></span>r separatin<span class=\"_ _0\"></span>g any distinc<span class=\"_ _0\"></span>t compo<span class=\"_ _0\"></span>nents<span class=\"_ _0\"></span>, the Group ap<span class=\"_ _0\"></span>plies the re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f I<span class=\"_ _0\"></span>FRS 17 to all remain<span class=\"_ _0\"></span>ing compo<span class=\"_ _0\"></span>nents of the in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t or whe<span class=\"_ _0\"></span>re distinc<span class=\"_ _0\"></span>t criteria are not m<span class=\"_ _0\"></span>et, the wh<span class=\"_ _0\"></span>ole contra<span class=\"_ _0\"></span>ct is acc<span class=\"_ _0\"></span>ounted for within I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Level of a<span class=\"_ _0\"></span>ggre<span class=\"_ _0\"></span>gatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up is require<span class=\"_ _0\"></span>d to divide its bu<span class=\"_ _0\"></span>siness into g<span class=\"_ _0\"></span>roups for the purp<span class=\"_ _0\"></span>oses of rec<span class=\"_ _0\"></span>ognition a<span class=\"_ _0\"></span>nd meas<span class=\"_ _0\"></span>urement<span class=\"_ _0\"></span>. The Group\u2019s busine<span class=\"_ _0\"></span>ss is firs<span class=\"_ _0\"></span>tly split into por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s. Port<span class=\"_ _0\"></span>folios co<span class=\"_ _0\"></span>ntain groups of co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s with similar ris<span class=\"_ _0\"></span>ks, which a<span class=\"_ _0\"></span>re manag<span class=\"_ _0\"></span>ed togeth<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>. Por<span class=\"_ _0\"></span>tfolios are f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r divided ba<span class=\"_ _0\"></span>sed on exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d profita<span class=\"_ _0\"></span>bility at in<span class=\"_ _0\"></span>ception into thre<span class=\"_ _0\"></span>e categ<span class=\"_ _0\"></span>ories: one<span class=\"_ _0\"></span>rous contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at are profitable a<span class=\"_ _0\"></span>t initial reco<span class=\"_ _0\"></span>gnition an<span class=\"_ _0\"></span>d have no signific<span class=\"_ _0\"></span>ant risk of be<span class=\"_ _0\"></span>coming one<span class=\"_ _0\"></span>rous<span class=\"_ _0\"></span>, and the rema<span class=\"_ _0\"></span>ining profitab<span class=\"_ _0\"></span>le contrac<span class=\"_ _0\"></span>ts. For re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts the s<span class=\"_ _0\"></span>ame three g<span class=\"_ _0\"></span>roups would b<span class=\"_ _0\"></span>e identified w<span class=\"_ _0\"></span>ith \u2018<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>erous\u2019 bein<span class=\"_ _0\"></span>g replace<span class=\"_ _0\"></span>d with \u2018net gain\u2019 an<span class=\"_ _0\"></span>d \u2018<span class=\"_ _2\"></span>profit<span class=\"_ _0\"></span>able\u2019 bein<span class=\"_ _0\"></span>g replace<span class=\"_ _0\"></span>d with \u2018net cos<span class=\"_ _0\"></span>t\u2019<span class=\"_ _2\"></span>. Co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s which are is<span class=\"_ _0\"></span>sued more t<span class=\"_ _0\"></span>han one year ap<span class=\"_ _0\"></span>art are n<span class=\"_ _0\"></span>ot perm<span class=\"_ _0\"></span>itted to b<span class=\"_ _0\"></span>e include<span class=\"_ _0\"></span>d within the s<span class=\"_ _0\"></span>ame group. H<span class=\"_ _0\"></span>owever as perm<span class=\"_ _0\"></span>itted by I<span class=\"_ _0\"></span>FRS 17<span class=\"_ _4\"></span>, t<span class=\"_ _0\"></span>he groups of cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r which the<span class=\"_ gs47\"> </span>F<span class=\"_ _0\"></span>V<span class=\"_ _4\"></span>A ha<span class=\"_ _0\"></span>s been a<span class=\"_ _0\"></span>dopted on transition include contracts iss<span class=\"_ _0\"></span>ued more t<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span> one year apar<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has define<span class=\"_ _0\"></span>d por<span class=\"_ _0\"></span>tfolios of ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts is<span class=\"_ _0\"></span>sued bro<span class=\"_ _0\"></span>adly bas<span class=\"_ _0\"></span>ed on the pre<span class=\"_ _0\"></span>dominant ris<span class=\"_ _0\"></span>ks inherent in th<span class=\"_ _0\"></span>e produ<span class=\"_ _0\"></span>cts/<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, for exam<span class=\"_ _0\"></span>ple, long<span class=\"_ _0\"></span>evity, per<span class=\"_ _0\"></span>sisten<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty, and by cons<span class=\"_ _0\"></span>idering whe<span class=\"_ _0\"></span>ther group<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s are manag<span class=\"_ _0\"></span>ed toge<span class=\"_ _0\"></span>ther<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>ese por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s are furt<span class=\"_ _0\"></span>her split by le<span class=\"_ _0\"></span>gal entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, wi<span class=\"_ _0\"></span>th-profits f<span class=\"_ _0\"></span>und and contr<span class=\"_ _0\"></span>acts s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to different I<span class=\"_ _0\"></span>FRS 17 mea<span class=\"_ _0\"></span>surement m<span class=\"_ _0\"></span>odels are gro<span class=\"_ _0\"></span>uped sep<span class=\"_ _0\"></span>arately. The por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>s are alloc<span class=\"_ _0\"></span>ated to cohor<span class=\"_ _0\"></span>ts b<span class=\"_ _0\"></span>ased on wh<span class=\"_ _0\"></span>ether they a<span class=\"_ _0\"></span>re onerous at in<span class=\"_ _0\"></span>ception or b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>eir expe<span class=\"_ _0\"></span>cted level of profita<span class=\"_ _0\"></span>bility us<span class=\"_ _0\"></span>ing information availa<span class=\"_ _0\"></span>ble at incepti<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>For reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held, p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folios are bas<span class=\"_ _0\"></span>ed upon sim<span class=\"_ _0\"></span>ilar risks to thos<span class=\"_ _0\"></span>e of the underl<span class=\"_ _0\"></span>ying contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. The reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held are as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed for agg<span class=\"_ _0\"></span>regation re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s on an individ<span class=\"_ _0\"></span>ual contra<span class=\"_ _0\"></span>ct basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The gro<span class=\"_ _0\"></span>uping of the insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s is determine<span class=\"_ _0\"></span>d at initial rec<span class=\"_ _0\"></span>ognition a<span class=\"_ _0\"></span>nd is not subs<span class=\"_ _0\"></span>equently re<span class=\"_ _0\"></span>asse<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>d. Therefore<span class=\"_ _0\"></span>, a contrac<span class=\"_ _0\"></span>t will remain within th<span class=\"_ _0\"></span>e assign<span class=\"_ _0\"></span>ed agg<span class=\"_ _0\"></span>regation g<span class=\"_ _0\"></span>roup until it is dere<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed, eith<span class=\"_ _0\"></span>er by expir<span class=\"_ _0\"></span>y or modific<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span>Recognitio<span class=\"_ _2\"></span>n<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up recog<span class=\"_ _0\"></span>nises gro<span class=\"_ _0\"></span>ups of insuran<span class=\"_ _0\"></span>ce contrac<span class=\"_ _0\"></span>ts that i<span class=\"_ _0\"></span>t issues f<span class=\"_ _0\"></span>rom the earlie<span class=\"_ _0\"></span>st of the following<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e period of the g<span class=\"_ _0\"></span>roup of contra<span class=\"_ _0\"></span>cts; \u2022 <span class=\"_ _19\"> </span>the d<span class=\"_ _0\"></span>ate when the fir<span class=\"_ _0\"></span>st payment f<span class=\"_ _0\"></span>rom the polic<span class=\"_ _0\"></span>yholder in th<span class=\"_ _0\"></span>e group is due or a<span class=\"_ _0\"></span>ctually re<span class=\"_ _0\"></span>ceived if t<span class=\"_ _0\"></span>here is no due d<span class=\"_ _0\"></span>ate; or<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>for a gro<span class=\"_ _0\"></span>up of onerous c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, as s<span class=\"_ _0\"></span>oon as fac<span class=\"_ _0\"></span>ts and c<span class=\"_ _0\"></span>ircumsta<span class=\"_ _0\"></span>nces indi<span class=\"_ _0\"></span>cate that the g<span class=\"_ _0\"></span>roup is onero<span class=\"_ _0\"></span>us.<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>th DPF are initiall<span class=\"_ _0\"></span>y recog<span class=\"_ _0\"></span>nised at th<span class=\"_ _0\"></span>e date when the G<span class=\"_ _0\"></span>roup bec<span class=\"_ _0\"></span>omes a par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combinat<span class=\"_ _0\"></span>ion within the sc<span class=\"_ _0\"></span>ope of IFRS 3 B<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s Combina<span class=\"_ _0\"></span>tions or a por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer a<span class=\"_ _0\"></span>re accounte<span class=\"_ _0\"></span>d for as if the<span class=\"_ _0\"></span>y w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>re entered into at the d<span class=\"_ _0\"></span>ate of acquisitio<span class=\"_ _0\"></span>n or transfe<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span>Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed from the e<span class=\"_ _0\"></span>arliest of the fo<span class=\"_ _0\"></span>llowing:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the b<span class=\"_ _0\"></span>eginnin<span class=\"_ _0\"></span>g o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e coverag<span class=\"_ _0\"></span>e period of the g<span class=\"_ _0\"></span>roup of reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld. However, the Group d<span class=\"_ _0\"></span>elays the rec<span class=\"_ _0\"></span>ognition of a g<span class=\"_ _0\"></span>roup of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held that p<span class=\"_ _0\"></span>rovide propor<span class=\"_ _0\"></span>tionate c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage (for exampl<span class=\"_ _0\"></span>e, through a q<span class=\"_ _0\"></span>uota share arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent) until the da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e w<span class=\"_ _0\"></span>hen any under<span class=\"_ _0\"></span>lying insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act is initi<span class=\"_ _0\"></span>ally reco<span class=\"_ _0\"></span>gnised<span class=\"_ _0\"></span>, if that date is later t<span class=\"_ _0\"></span>han the be<span class=\"_ _0\"></span>ginning of the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage pe<span class=\"_ _0\"></span>riod of the gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contr<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s held; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the d<span class=\"_ _0\"></span>ate the Group rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>es an onero<span class=\"_ _0\"></span>us group of underl<span class=\"_ _0\"></span>ying insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts if th<span class=\"_ _0\"></span>e Group entere<span class=\"_ _0\"></span>d into the related re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t held in t<span class=\"_ _0\"></span>he group of reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s held at or b<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>re that date.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up adds new c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts to the group in t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting per<span class=\"_ _0\"></span>iod in which tha<span class=\"_ _0\"></span>t contrac<span class=\"_ _0\"></span>t meet<span class=\"_ _0\"></span>s one of the criteri<span class=\"_ _0\"></span>a set out ab<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve.<span class=\"_ _3bd\"> </span>Contract bound<span class=\"_ _2\"></span>aries<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up include<span class=\"_ _0\"></span>s in the mea<span class=\"_ _0\"></span>surement of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts all the fut<span class=\"_ _0\"></span>ure cash fl<span class=\"_ _0\"></span>ows within the bo<span class=\"_ _0\"></span>undar<span class=\"_ _0\"></span>y of each co<span class=\"_ _0\"></span>ntract in th<span class=\"_ _0\"></span>e group. C<span class=\"_ _0\"></span>ash flows are w<span class=\"_ _0\"></span>ithin the boun<span class=\"_ _0\"></span>dary of an in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t if they arise fro<span class=\"_ _0\"></span>m the rights a<span class=\"_ _0\"></span>nd obligati<span class=\"_ _0\"></span>ons that exis<span class=\"_ _0\"></span>t during the p<span class=\"_ _0\"></span>eriod in which th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older is oblig<span class=\"_ _0\"></span>ated to pay prem<span class=\"_ _0\"></span>iums or the Gro<span class=\"_ _0\"></span>up has a subs<span class=\"_ _0\"></span>tantive oblig<span class=\"_ _0\"></span>ation to provide the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der with insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s. A subs<span class=\"_ _0\"></span>tantive oblig<span class=\"_ _0\"></span>ation to provide ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es ends wh<span class=\"_ _0\"></span>en:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup has the p<span class=\"_ _0\"></span>ractic<span class=\"_ _0\"></span>al abilit<span class=\"_ _0\"></span>y to reprice th<span class=\"_ _0\"></span>e risks of the par<span class=\"_ _0\"></span>ticular p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der or chan<span class=\"_ _0\"></span>ge the level of be<span class=\"_ _0\"></span>nefits s<span class=\"_ _0\"></span>o that the pric<span class=\"_ _0\"></span>e fully refle<span class=\"_ _0\"></span>cts tho<span class=\"_ _0\"></span>se risks; or \u2022 <span class=\"_ _19\"> </span>both of th<span class=\"_ _0\"></span>e following criter<span class=\"_ _0\"></span>ia are satisfi<span class=\"_ _0\"></span>ed:<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>the Gro<span class=\"_ _0\"></span>up has the pr<span class=\"_ _0\"></span>actic<span class=\"_ _0\"></span>al ability to re<span class=\"_ _0\"></span>price the c<span class=\"_ _0\"></span>ontract o<span class=\"_ _0\"></span>r a port<span class=\"_ _0\"></span>folio of contra<span class=\"_ _0\"></span>cts s<span class=\"_ _0\"></span>o that the pric<span class=\"_ _0\"></span>e fully reflec<span class=\"_ _0\"></span>ts the re<span class=\"_ _0\"></span>asses<span class=\"_ _0\"></span>sed ri<span class=\"_ _0\"></span>sk of<span class=\"_ gs47\"> </span>that por<span class=\"_ _0\"></span>tfolio; a<span class=\"_ _0\"></span>nd \u2013 <span class=\"_ _29\"> </span>the pric<span class=\"_ _0\"></span>ing of premiums up to th<span class=\"_ _0\"></span>e date when risks a<span class=\"_ _0\"></span>re reass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d does not refl<span class=\"_ _0\"></span>ect the r<span class=\"_ _0\"></span>isks related to p<span class=\"_ _0\"></span>eriods beyo<span class=\"_ _0\"></span>nd the reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment date.<span class=\"_ _3bd\"> </span>Where a<span class=\"_ _0\"></span>n expec<span class=\"_ _0\"></span>ted premium or e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted claim is not w<span class=\"_ _0\"></span>ithin the contr<span class=\"_ _0\"></span>act boun<span class=\"_ _0\"></span>dar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, it is not re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a ca<span class=\"_ _0\"></span>sh flow of the contr<span class=\"_ _0\"></span>act an<span class=\"_ _0\"></span>d is<span class=\"_ gs47\"> </span>ins<span class=\"_ _0\"></span>tead con<span class=\"_ _0\"></span>sidered to rel<span class=\"_ _0\"></span>ate to a future insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act and re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised whe<span class=\"_ _0\"></span>n those co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s meet the re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>tion criteria<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>ontract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y is reas<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date to inc<span class=\"_ _0\"></span>lude the ef<span class=\"_ _0\"></span>fect of cha<span class=\"_ _0\"></span>nges in circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces on the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s sub<span class=\"_ _0\"></span>stantive rig<span class=\"_ _0\"></span>hts and ob<span class=\"_ _0\"></span>ligations an<span class=\"_ _0\"></span>d, therefore<span class=\"_ _0\"></span>, may chang<span class=\"_ _0\"></span>e over time.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>ontract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y for a reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract is de<span class=\"_ _0\"></span>pende<span class=\"_ _0\"></span>nt on the terms an<span class=\"_ _0\"></span>d condition<span class=\"_ _0\"></span>s of the reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act and t<span class=\"_ _0\"></span>herefore may not nec<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>arily be the s<span class=\"_ _0\"></span>ame as for the un<span class=\"_ _0\"></span>derlying c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s. Wh<span class=\"_ _0\"></span>ere the reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract is op<span class=\"_ _0\"></span>en to new bus<span class=\"_ _0\"></span>iness on a<span class=\"_ _0\"></span>greed te<span class=\"_ _0\"></span>rms for a perio<span class=\"_ _0\"></span>d of time, t<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>t bound<span class=\"_ _0\"></span>ary m<span class=\"_ _0\"></span>ay include es<span class=\"_ _0\"></span>timates of reins<span class=\"_ _0\"></span>urance on in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts that h<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ve n<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>t yet b<span class=\"_ _0\"></span>een is<span class=\"_ _0\"></span>sued or rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Measuremen<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d without dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatio<span class=\"_ _0\"></span>n features are gro<span class=\"_ _0\"></span>uped tog<span class=\"_ _0\"></span>ether und<span class=\"_ _0\"></span>er annuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, prote<span class=\"_ _0\"></span>ction an<span class=\"_ _0\"></span>d other non-lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>enera<span class=\"_ _0\"></span>l Model (<span class=\"_ _0\"></span>\u2018GM<span class=\"_ _0\"></span>\u2019). Direc<span class=\"_ _0\"></span>t par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s issu<span class=\"_ _0\"></span>ed by the Group a<span class=\"_ _0\"></span>re contrac<span class=\"_ _0\"></span>ts with DP<span class=\"_ _0\"></span>F where the Gro<span class=\"_ _0\"></span>up holds the p<span class=\"_ _0\"></span>ool of underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>ets. D<span class=\"_ _0\"></span>irect par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts are gro<span class=\"_ _0\"></span>uped tog<span class=\"_ _0\"></span>ether and re<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d primarily a<span class=\"_ _0\"></span>s either unit-linked or w<span class=\"_ _0\"></span>ith-profits b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s althoug<span class=\"_ _0\"></span>h some protec<span class=\"_ _0\"></span>tion contra<span class=\"_ _0\"></span>cts are c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to have direct p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ation feature<span class=\"_ _0\"></span>s. Thes<span class=\"_ _0\"></span>e groups of contr<span class=\"_ _0\"></span>acts a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d using the va<span class=\"_ _0\"></span>riable fee appro<span class=\"_ _0\"></span>ach (\u2018<span class=\"_ _0\"></span>VF<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>), unles<span class=\"_ _0\"></span>s they fail the eli<span class=\"_ _0\"></span>gibility te<span class=\"_ _0\"></span>st to be trea<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d under this a<span class=\"_ _0\"></span>pproach<span class=\"_ _0\"></span>, in such circ<span class=\"_ _0\"></span>umstan<span class=\"_ _0\"></span>ces they are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>M. Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der the GM irre<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tive of the mea<span class=\"_ _0\"></span>surement m<span class=\"_ _0\"></span>odel use<span class=\"_ _0\"></span>d for the under<span class=\"_ _0\"></span>lying contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. Cer<span class=\"_ _0\"></span>tain with-p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>ts funds wi<span class=\"_ _0\"></span>thin the Group h<span class=\"_ _0\"></span>old non-profit in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s such as an<span class=\"_ _0\"></span>nuities<span class=\"_ _0\"></span>. This busine<span class=\"_ _0\"></span>ss will als<span class=\"_ _0\"></span>o be meas<span class=\"_ _0\"></span>ured under th<span class=\"_ _0\"></span>e GM.<span class=\"_ _3bd\"> </span>Initial measurement<span class=\"_ _2\"></span> \u2013 Insurance contracts<span class=\"_ _3bd\"> </span>On initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition, th<span class=\"_ _0\"></span>e Group mea<span class=\"_ _0\"></span>sures a group of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s as the total of (a) the ful<span class=\"_ _0\"></span>filment cas<span class=\"_ _0\"></span>h flows and a risk a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tment for non-<span class=\"_ _0\"></span>financial r<span class=\"_ _0\"></span>isk; and (<span class=\"_ _0\"></span>b<span class=\"_ _2\"></span>) th<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>tual ser<span class=\"_ _0\"></span>vice m<span class=\"_ _0\"></span>argin (\u2018C<span class=\"_ _0\"></span>SM\u2019<span class=\"_ _0\"></span>). The fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows of a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts do n<span class=\"_ _0\"></span>ot reflec<span class=\"_ _0\"></span>t the Group\u2019s non-p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance risk<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows comp<span class=\"_ _0\"></span>rise:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>unbia<span class=\"_ _0\"></span>sed and p<span class=\"_ _0\"></span>robabilit<span class=\"_ _0\"></span>y-weig<span class=\"_ _0\"></span>hted estim<span class=\"_ _0\"></span>ates of future c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t are within the co<span class=\"_ _0\"></span>ntract b<span class=\"_ _0\"></span>oundar<span class=\"_ _0\"></span>y plus an ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent to reflec<span class=\"_ _0\"></span>t the time value of mo<span class=\"_ _0\"></span>ney and the fin<span class=\"_ _0\"></span>ancial ris<span class=\"_ _0\"></span>ks related to fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s, to the ex<span class=\"_ _0\"></span>tent that th<span class=\"_ _0\"></span>e financial ri<span class=\"_ _0\"></span>sks are not inclu<span class=\"_ _0\"></span>ded in the es<span class=\"_ _0\"></span>timates of fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh flows (\u2018<span class=\"_ _0\"></span>BEL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a risk a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tment for non-<span class=\"_ _0\"></span>financial r<span class=\"_ _0\"></span>isk.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of fulfilment c<span class=\"_ _0\"></span>ash flows inc<span class=\"_ _0\"></span>ludes insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows whic<span class=\"_ _0\"></span>h are alloca<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d as a por<span class=\"_ _0\"></span>tion of premium to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t or loss (through in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e revenue) over the pe<span class=\"_ _0\"></span>riod of the contr<span class=\"_ _0\"></span>act in a sys<span class=\"_ _0\"></span>tematic an<span class=\"_ _0\"></span>d rational way b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e pass<span class=\"_ _0\"></span>age of time.<span class=\"_ _3bd\"> </span>The ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for non<span class=\"_ _0\"></span>-financi<span class=\"_ _0\"></span>al risk for a group of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, dete<span class=\"_ _0\"></span>rmined se<span class=\"_ _0\"></span>parately fro<span class=\"_ _0\"></span>m the other es<span class=\"_ _0\"></span>timates<span class=\"_ _0\"></span>, is the com<span class=\"_ _0\"></span>pensat<span class=\"_ _0\"></span>ion require<span class=\"_ _0\"></span>d for bearin<span class=\"_ _0\"></span>g uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y about th<span class=\"_ _0\"></span>e amount an<span class=\"_ _0\"></span>d timing of the ca<span class=\"_ _0\"></span>sh flows that ar<span class=\"_ _0\"></span>ises from no<span class=\"_ _0\"></span>n-financi<span class=\"_ _0\"></span>al risk. Th<span class=\"_ _0\"></span>e Group applie<span class=\"_ _0\"></span>s a confid<span class=\"_ _0\"></span>ence level te<span class=\"_ _0\"></span>chnique. T<span class=\"_ _0\"></span>he risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt is alloca<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to groups of contr<span class=\"_ _0\"></span>acts b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n an analysis of th<span class=\"_ _0\"></span>e risk profiles of the g<span class=\"_ _0\"></span>roups, refle<span class=\"_ _0\"></span>cting the ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>s of the diversific<span class=\"_ _0\"></span>ation be<span class=\"_ _0\"></span>nefits be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n Group entitie<span class=\"_ _0\"></span>s to the extent t<span class=\"_ _0\"></span>hat the Group in<span class=\"_ _0\"></span>cludes it w<span class=\"_ _0\"></span>hen determinin<span class=\"_ _0\"></span>g the comp<span class=\"_ _0\"></span>ensatio<span class=\"_ _0\"></span>n required to b<span class=\"_ _0\"></span>ear that ris<span class=\"_ _0\"></span>k. The Gro<span class=\"_ _0\"></span>up includes d<span class=\"_ _0\"></span>iversifica<span class=\"_ _0\"></span>tion bet<span class=\"_ _0\"></span>ween Gro<span class=\"_ _0\"></span>up entities whic<span class=\"_ _0\"></span>h use the Group I<span class=\"_ _0\"></span>nternal Mo<span class=\"_ _0\"></span>del for man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt decision<span class=\"_ _0\"></span>-making<span class=\"_ _0\"></span>. Where a Stan<span class=\"_ _0\"></span>dard Formula a<span class=\"_ _0\"></span>pproach is us<span class=\"_ _0\"></span>ed, no d<span class=\"_ _0\"></span>iversific<span class=\"_ _0\"></span>ation with other e<span class=\"_ _0\"></span>ntities within th<span class=\"_ _0\"></span>e Group is allowe<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. The Gro<span class=\"_ _0\"></span>up determine<span class=\"_ _0\"></span>s the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt using a one<span class=\"_ _0\"></span>-year time h<span class=\"_ _0\"></span>oriz<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>n, consi<span class=\"_ _0\"></span>stent with the t<span class=\"_ _0\"></span>ime horizon use<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r Solvenc<span class=\"_ _0\"></span>y II, a<span class=\"_ gs47\"> </span>key metr<span class=\"_ _0\"></span>ic under<span class=\"_ _0\"></span>lying how the G<span class=\"_ _0\"></span>roup is mana<span class=\"_ _0\"></span>ged.<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>SM of a group of insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s represe<span class=\"_ _0\"></span>nts the une<span class=\"_ _0\"></span>arned profit th<span class=\"_ _0\"></span>at the Group will re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>se over the life of the contr<span class=\"_ _0\"></span>act as in<span class=\"_ _0\"></span>surance and inves<span class=\"_ _0\"></span>tment-relate<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are provi<span class=\"_ _0\"></span>ded. For profit<span class=\"_ _0\"></span>able groups of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts the CS<span class=\"_ _0\"></span>M is est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o e<span class=\"_ _0\"></span>nsure that n<span class=\"_ _0\"></span>o profit or loss is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at inceptio<span class=\"_ _0\"></span>n and cons<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y it offse<span class=\"_ _0\"></span>ts the net p<span class=\"_ _0\"></span>resent value of th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted cas<span class=\"_ _0\"></span>h flows (includin<span class=\"_ _0\"></span>g initial prem<span class=\"_ _0\"></span>ium and insura<span class=\"_ _0\"></span>nce acq<span class=\"_ _0\"></span>uisition ca<span class=\"_ _0\"></span>sh flows) and the ri<span class=\"_ _0\"></span>sk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r a group of insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>at are onerou<span class=\"_ _0\"></span>s, the CS<span class=\"_ _0\"></span>M is set to nil an<span class=\"_ _0\"></span>d a loss is imm<span class=\"_ _0\"></span>ediately rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in profit or los<span class=\"_ _0\"></span>s. A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent of the liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e (\u2018LRC<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) is esta<span class=\"_ _0\"></span>blished for th<span class=\"_ _0\"></span>e amount of<span class=\"_ gs47\"> </span>los<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised. The init<span class=\"_ _0\"></span>ial reco<span class=\"_ _0\"></span>gnition of the CS<span class=\"_ _0\"></span>M is cons<span class=\"_ _0\"></span>istent for insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s applying th<span class=\"_ _0\"></span>e GM and VF<span class=\"_ _2\"></span>A m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent approa<span class=\"_ _0\"></span>ches<span class=\"_ _0\"></span>, however there a<span class=\"_ _0\"></span>re key differen<span class=\"_ _0\"></span>ces for subs<span class=\"_ _0\"></span>equent m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of the CS<span class=\"_ _0\"></span>M under the<span class=\"_ _0\"></span>se meas<span class=\"_ _0\"></span>urement mo<span class=\"_ _0\"></span>dels. For group<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d in a transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s or a busin<span class=\"_ _0\"></span>ess com<span class=\"_ _0\"></span>bination, t<span class=\"_ _0\"></span>he consid<span class=\"_ _0\"></span>eration rec<span class=\"_ _0\"></span>eived for the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts is inclu<span class=\"_ _0\"></span>ded in the fulfi<span class=\"_ _0\"></span>lment cas<span class=\"_ _0\"></span>h flows as a prox<span class=\"_ _0\"></span>y for the premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d at the date of acq<span class=\"_ _0\"></span>uisition. In a b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinati<span class=\"_ _0\"></span>on, the co<span class=\"_ _0\"></span>nsiderat<span class=\"_ _0\"></span>ion receive<span class=\"_ _0\"></span>d is the fair va<span class=\"_ _0\"></span>lue of the contra<span class=\"_ _0\"></span>cts at th<span class=\"_ _0\"></span>at date.<span class=\"_ _3bd\"> </span>With-profits es<span class=\"_ _0\"></span>tate<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has a numb<span class=\"_ _0\"></span>er of with-profit<span class=\"_ _0\"></span>s funds whe<span class=\"_ _0\"></span>re surpluse<span class=\"_ _0\"></span>s are share<span class=\"_ _0\"></span>d betwe<span class=\"_ _0\"></span>en polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s and share<span class=\"_ _0\"></span>holder<span class=\"_ _0\"></span>s. All such f<span class=\"_ _0\"></span>unds are clo<span class=\"_ _0\"></span>sed to new bu<span class=\"_ _0\"></span>siness<span class=\"_ _0\"></span>. Thes<span class=\"_ _0\"></span>e funds t<span class=\"_ _0\"></span>ypicall<span class=\"_ _0\"></span>y have an esta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>, being a sur<span class=\"_ _0\"></span>plus of asse<span class=\"_ _0\"></span>ts over thos<span class=\"_ _0\"></span>e neede<span class=\"_ _0\"></span>d to meet th<span class=\"_ _0\"></span>e liabilities of curre<span class=\"_ _0\"></span>nt policyh<span class=\"_ _0\"></span>olders<span class=\"_ _0\"></span>. As thes<span class=\"_ _0\"></span>e funds are cl<span class=\"_ _0\"></span>osed to new b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus is expe<span class=\"_ _0\"></span>cted to b<span class=\"_ _0\"></span>e distribute<span class=\"_ _0\"></span>d to existin<span class=\"_ _0\"></span>g policyho<span class=\"_ _0\"></span>lders over tim<span class=\"_ _0\"></span>e and the Gro<span class=\"_ _0\"></span>up has determin<span class=\"_ _0\"></span>ed it appro<span class=\"_ _0\"></span>priate to alloc<span class=\"_ _0\"></span>ate the expe<span class=\"_ _0\"></span>cted fut<span class=\"_ _0\"></span>ure policyh<span class=\"_ _0\"></span>older paym<span class=\"_ _0\"></span>ents from the e<span class=\"_ _0\"></span>state to sp<span class=\"_ _0\"></span>ecific gro<span class=\"_ _0\"></span>ups of contrac<span class=\"_ _0\"></span>ts within the mea<span class=\"_ _0\"></span>surement of th<span class=\"_ _0\"></span>e best e<span class=\"_ _0\"></span>stimate ca<span class=\"_ _0\"></span>sh flows.<span class=\"_ _3bd\"> </span>Subsequent measurement \u2013 Insurance con<span class=\"_ _2\"></span>tra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts at eac<span class=\"_ _0\"></span>h repor<span class=\"_ _0\"></span>ting date is the s<span class=\"_ _0\"></span>um o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e LRC and the lia<span class=\"_ _0\"></span>bility for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims (\u2018<span class=\"_ _0\"></span>LIC\u2019<span class=\"_ _0\"></span>). The LRC c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s the BEL, r<span class=\"_ _0\"></span>isk adjus<span class=\"_ _0\"></span>tment an<span class=\"_ _0\"></span>d any remaining C<span class=\"_ _0\"></span>SM at that d<span class=\"_ _0\"></span>ate. The LIC inc<span class=\"_ _0\"></span>ludes the B<span class=\"_ _0\"></span>EL and risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent (the fulfilment ca<span class=\"_ _0\"></span>sh flows for incur<span class=\"_ _0\"></span>red claims an<span class=\"_ _0\"></span>d expens<span class=\"_ _0\"></span>es that have not yet b<span class=\"_ _0\"></span>een pai<span class=\"_ _0\"></span>d, includin<span class=\"_ _0\"></span>g claims tha<span class=\"_ _0\"></span>t have been in<span class=\"_ _0\"></span>curred but n<span class=\"_ _0\"></span>ot yet repor<span class=\"_ _0\"></span>ted). There is no CS<span class=\"_ _0\"></span>M ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th the LIC, a<span class=\"_ _0\"></span>nd as a result<span class=\"_ _0\"></span>, any chang<span class=\"_ _0\"></span>es in the LIC a<span class=\"_ _0\"></span>re tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n directly to p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows of groups of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at the rep<span class=\"_ _0\"></span>ortin<span class=\"_ _0\"></span>g date using curre<span class=\"_ _0\"></span>nt estimate<span class=\"_ _0\"></span>s of future ca<span class=\"_ _0\"></span>sh flows, c<span class=\"_ _0\"></span>urrent disc<span class=\"_ _0\"></span>ount rates and c<span class=\"_ _0\"></span>urrent est<span class=\"_ _0\"></span>imates of the risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment for non-<span class=\"_ _0\"></span>financial ri<span class=\"_ _0\"></span>sk. Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows are reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s follows.<span class=\"_ _3bd\"> </span>Cha<span class=\"_ _0\"></span>nges re<span class=\"_ _0\"></span>lating to f<span class=\"_ _0\"></span>uture ins<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices<span class=\"_ _1a6\"> </span><span class=\"ff2\">Adj<span class=\"_ _0\"></span>usted a<span class=\"_ _0\"></span>gainst t<span class=\"_ _0\"></span>he CSM (or re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result </span>in profit or lo<span class=\"_ _0\"></span>ss if the gro<span class=\"_ _0\"></span>up is onerous)<span class=\"_ _3bd\"> </span>Cha<span class=\"_ _0\"></span>nges re<span class=\"_ _0\"></span>lating to c<span class=\"_ _0\"></span>urrent or p<span class=\"_ _0\"></span>ast se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es<span class=\"_ _188\"> </span><span class=\"ff2\">Reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in the insuran<span class=\"_ _0\"></span>ce ser<span class=\"_ _0\"></span>vice res<span class=\"_ _0\"></span>ult in profit or los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></span>Effe<span class=\"_ _0\"></span>cts of th<span class=\"_ _0\"></span>e time valu<span class=\"_ _0\"></span>e of money, finan<span class=\"_ _0\"></span>cial ris<span class=\"_ _0\"></span>k and ch<span class=\"_ _0\"></span>anges<span class=\"_ _159\"> </span><span class=\"ff2\">Re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in insura<span class=\"_ _0\"></span>nce finan<span class=\"_ _0\"></span>ce incom<span class=\"_ _0\"></span>e or expens<span class=\"_ _0\"></span>es therein o<span class=\"_ _0\"></span>n </span>es<span class=\"_ _0\"></span>timated fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Where<span class=\"_ _0\"></span>, during the c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rage pe<span class=\"_ _0\"></span>riod, a gro<span class=\"_ _0\"></span>up of insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts be<span class=\"_ _0\"></span>comes on<span class=\"_ _0\"></span>erous<span class=\"_ _0\"></span>, the Group re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es a loss in profi<span class=\"_ _0\"></span>t or loss for th<span class=\"_ _0\"></span>e net out<span class=\"_ _0\"></span>flow, resultin<span class=\"_ _0\"></span>g in the carr<span class=\"_ _0\"></span>ying am<span class=\"_ _0\"></span>ount of the liabilit<span class=\"_ _0\"></span>y for the group b<span class=\"_ _0\"></span>eing eq<span class=\"_ _0\"></span>ual to the fulfilme<span class=\"_ _0\"></span>nt cash flow<span class=\"_ _0\"></span>s. A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d by the Gro<span class=\"_ _0\"></span>up for the liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverag<span class=\"_ _0\"></span>e for such gro<span class=\"_ _0\"></span>ups of onerous c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s represe<span class=\"_ _0\"></span>nting the los<span class=\"_ _0\"></span>ses re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed. The b<span class=\"_ _0\"></span>alance on th<span class=\"_ _0\"></span>e CSM at th<span class=\"_ _0\"></span>e end of the pe<span class=\"_ _0\"></span>riod is available fo<span class=\"_ _0\"></span>r release to p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>. The amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>SM rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in insuran<span class=\"_ _0\"></span>ce revenue eac<span class=\"_ _0\"></span>h period (the C<span class=\"_ _0\"></span>SM amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion) is determine<span class=\"_ _0\"></span>d by conside<span class=\"_ _0\"></span>ring, for e<span class=\"_ _0\"></span>ach group of c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, cover<span class=\"_ _0\"></span>age unit<span class=\"_ _0\"></span>s that reflec<span class=\"_ _0\"></span>t the quantit<span class=\"_ _0\"></span>y of the ben<span class=\"_ _0\"></span>efits provide<span class=\"_ _0\"></span>d in each p<span class=\"_ _0\"></span>eriod and th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted covera<span class=\"_ _0\"></span>ge perio<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Ben<span class=\"_ _0\"></span>efits provide<span class=\"_ _0\"></span>d include<span class=\"_ _0\"></span>d those ar<span class=\"_ _0\"></span>ising from both in<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>nd investme<span class=\"_ _0\"></span>nt related se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es. Inves<span class=\"_ _0\"></span>tment rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d ser<span class=\"_ _0\"></span>vices are on<span class=\"_ _0\"></span>ly include<span class=\"_ _0\"></span>d if the Gro<span class=\"_ _0\"></span>up is deem<span class=\"_ _0\"></span>ed to be providin<span class=\"_ _0\"></span>g a significant inve<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e when providin<span class=\"_ _0\"></span>g an inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt, or polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s right to withdr<span class=\"_ _0\"></span>aw<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>at is expe<span class=\"_ _0\"></span>cted to incl<span class=\"_ _0\"></span>ude an investm<span class=\"_ _0\"></span>ent return ge<span class=\"_ _0\"></span>nerated by inves<span class=\"_ _0\"></span>tment ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>y perfo<span class=\"_ _0\"></span>rmed by the G<span class=\"_ _0\"></span>roup. This incl<span class=\"_ _0\"></span>udes contr<span class=\"_ _0\"></span>acts where t<span class=\"_ _0\"></span>he value of the inves<span class=\"_ _0\"></span>tment return th<span class=\"_ _0\"></span>at the polic<span class=\"_ _0\"></span>yholder b<span class=\"_ _0\"></span>enefits f<span class=\"_ _0\"></span>rom is not direc<span class=\"_ _0\"></span>tly related to th<span class=\"_ _0\"></span>e value of the unde<span class=\"_ _0\"></span>rlying invest<span class=\"_ _0\"></span>ments<span class=\"_ _0\"></span>. Cover<span class=\"_ _0\"></span>age units a<span class=\"_ _0\"></span>re discounte<span class=\"_ _0\"></span>d and are update<span class=\"_ _0\"></span>d at each re<span class=\"_ _0\"></span>port<span class=\"_ _0\"></span>ing date to reflec<span class=\"_ _0\"></span>t the current b<span class=\"_ _0\"></span>est es<span class=\"_ _0\"></span>timate of ser<span class=\"_ _0\"></span>vice exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>e provided in future p<span class=\"_ _0\"></span>eriods<span class=\"_ _0\"></span>. Covera<span class=\"_ _0\"></span>ge units for rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts held a<span class=\"_ _0\"></span>re typic<span class=\"_ _0\"></span>ally cons<span class=\"_ _0\"></span>istent with th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g gross co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, adj<span class=\"_ _0\"></span>usted for diffe<span class=\"_ _0\"></span>rences in th<span class=\"_ _0\"></span>e ser<span class=\"_ _0\"></span>vices provid<span class=\"_ _0\"></span>ed.<span class=\"_ _3bd\"> </span>The C<span class=\"_ _0\"></span>SM of each g<span class=\"_ _0\"></span>roup of contrac<span class=\"_ _0\"></span>ts is c<span class=\"_ _0\"></span>alculated at e<span class=\"_ _0\"></span>ach repo<span class=\"_ _0\"></span>rting d<span class=\"_ _0\"></span>ate as follows:<span class=\"_ _3bd\"> </span>Insurance contracts measured under GM<span class=\"_ _3bd\"> </span>For insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s measure<span class=\"_ _0\"></span>d under the G<span class=\"_ _0\"></span>M approac<span class=\"_ _0\"></span>h, the CS<span class=\"_ _0\"></span>M is adj<span class=\"_ _0\"></span>usted by app<span class=\"_ _0\"></span>lying locked-in di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>s, while th<span class=\"_ _0\"></span>e BEL and risk adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nt are adjus<span class=\"_ _0\"></span>ted using c<span class=\"_ _0\"></span>urrent disco<span class=\"_ _0\"></span>unt rates.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of the C<span class=\"_ _0\"></span>SM at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amount a<span class=\"_ _0\"></span>t the star<span class=\"_ _0\"></span>t of the year, adjus<span class=\"_ _0\"></span>ted for<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the C<span class=\"_ _0\"></span>SM of any new co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s that are add<span class=\"_ _0\"></span>ed to the group in t<span class=\"_ _0\"></span>he year;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>intere<span class=\"_ _0\"></span>st accre<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d on the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g amount of the CS<span class=\"_ _0\"></span>M during the ye<span class=\"_ _0\"></span>ar;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows that rel<span class=\"_ _0\"></span>ate to future ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, except to th<span class=\"_ _0\"></span>e extent th<span class=\"_ _0\"></span>at:<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>any incre<span class=\"_ _0\"></span>ases in the f<span class=\"_ _0\"></span>ulfilment ca<span class=\"_ _0\"></span>sh flows exce<span class=\"_ _0\"></span>ed the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g amount of the CS<span class=\"_ _0\"></span>M, in w<span class=\"_ _0\"></span>hich cas<span class=\"_ _0\"></span>e the exces<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised as a l<span class=\"_ _0\"></span>oss in profit or los<span class=\"_ _0\"></span>s and create<span class=\"_ _0\"></span>s a loss com<span class=\"_ _0\"></span>ponent<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>any dec<span class=\"_ _0\"></span>reases in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows are all<span class=\"_ _0\"></span>ocated to th<span class=\"_ _0\"></span>e loss co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>, reversing l<span class=\"_ _0\"></span>osses p<span class=\"_ _0\"></span>reviously re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in profit or lo<span class=\"_ _0\"></span>ss;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of any c<span class=\"_ _0\"></span>urrency exch<span class=\"_ _0\"></span>ange dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on the CS<span class=\"_ _0\"></span>M; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce revenue b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e of the ser<span class=\"_ _0\"></span>vices p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ded in the year (s<span class=\"_ _0\"></span>ee the \u2018<span class=\"_ _0\"></span>Insuran<span class=\"_ _0\"></span>ce revenue\u2019 a<span class=\"_ _0\"></span>ccounting p<span class=\"_ _0\"></span>olicy in note C1 for f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r details).<span class=\"_ _3bd\"> </span>Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows relating to fu<span class=\"_ _0\"></span>ture ser<span class=\"_ _0\"></span>vice that a<span class=\"_ _0\"></span>djust t<span class=\"_ _0\"></span>he CSM c<span class=\"_ _0\"></span>omprise:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>exp<span class=\"_ _0\"></span>erienc<span class=\"_ _0\"></span>e adjus<span class=\"_ _0\"></span>tments ar<span class=\"_ _0\"></span>ising from the dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d and the exp<span class=\"_ _0\"></span>ected a<span class=\"_ _0\"></span>mounts e<span class=\"_ _0\"></span>stimated at t<span class=\"_ _0\"></span>he begin<span class=\"_ _0\"></span>ning of the peri<span class=\"_ _0\"></span>od, that re<span class=\"_ _0\"></span>late to future se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>, along with any a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ated acqui<span class=\"_ _0\"></span>sition cos<span class=\"_ _0\"></span>ts;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in e<span class=\"_ _0\"></span>stimates of th<span class=\"_ _0\"></span>e present val<span class=\"_ _0\"></span>ue of future ca<span class=\"_ _0\"></span>sh flows in the BEL a<span class=\"_ _0\"></span>nd risk adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nt;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s betwe<span class=\"_ _0\"></span>en any investm<span class=\"_ _0\"></span>ent compo<span class=\"_ _0\"></span>nent expe<span class=\"_ _0\"></span>cted to be<span class=\"_ _0\"></span>come p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>ya<span class=\"_ _0\"></span>ble in the per<span class=\"_ _0\"></span>iod and the a<span class=\"_ _0\"></span>ctual inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mponent th<span class=\"_ _0\"></span>at becom<span class=\"_ _0\"></span>es pay<span class=\"_ _2\"></span>able; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment for n<span class=\"_ _0\"></span>on-finan<span class=\"_ _0\"></span>cial risk tha<span class=\"_ _0\"></span>t relate to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>The imp<span class=\"_ _0\"></span>act of disc<span class=\"_ _0\"></span>ounting the ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for bus<span class=\"_ _0\"></span>iness m<span class=\"_ _0\"></span>easured un<span class=\"_ _0\"></span>der GM is dis<span class=\"_ _0\"></span>aggre<span class=\"_ _0\"></span>gated an<span class=\"_ _0\"></span>d recogn<span class=\"_ _0\"></span>ised within N<span class=\"_ _0\"></span>et financ<span class=\"_ _0\"></span>e income or expe<span class=\"_ _0\"></span>nses from in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts within the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Insurance contracts measured under VF<span class=\"_ _4\"></span>A model<span class=\"_ _3bd\"> </span>Life busine<span class=\"_ _0\"></span>ss is con<span class=\"_ _0\"></span>sidered to h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g features<span class=\"_ _0\"></span>, and is req<span class=\"_ _0\"></span>uired to be me<span class=\"_ _0\"></span>asured und<span class=\"_ _0\"></span>er the VF<span class=\"_ _2\"></span>A mo<span class=\"_ _0\"></span>del where<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al terms evide<span class=\"_ _0\"></span>nce that p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders par<span class=\"_ _0\"></span>ticipate in a p<span class=\"_ _0\"></span>ool of clearl<span class=\"_ _0\"></span>y identified un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>tems, for ex<span class=\"_ _0\"></span>ample unit-linked or with-<span class=\"_ _3bd\"> </span>profit<span class=\"_ _0\"></span>s funds;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders exp<span class=\"_ _0\"></span>ect to rec<span class=\"_ _0\"></span>eive a subs<span class=\"_ _0\"></span>tantial sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e returns on und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span>efined by the Gro<span class=\"_ _0\"></span>up as greater t<span class=\"_ _0\"></span>han 50% an<span class=\"_ _0\"></span>d fur<span class=\"_ _0\"></span>ther qua<span class=\"_ _0\"></span>litative fac<span class=\"_ _0\"></span>tors are con<span class=\"_ _0\"></span>sidered wh<span class=\"_ _0\"></span>ere share of return<span class=\"_ _0\"></span>s is less th<span class=\"_ _0\"></span>an 50%); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a sub<span class=\"_ _0\"></span>stantial p<span class=\"_ _0\"></span>ropor<span class=\"_ _0\"></span>tion of chang<span class=\"_ _0\"></span>es in amount<span class=\"_ _0\"></span>s payable to po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>rs varies wi<span class=\"_ _0\"></span>th returns on the un<span class=\"_ _0\"></span>derlyin<span class=\"_ _0\"></span>g items (where subs<span class=\"_ _0\"></span>tantial is define<span class=\"_ _0\"></span>d consis<span class=\"_ _0\"></span>tently with the p<span class=\"_ _0\"></span>oint above).<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s unit-linked an<span class=\"_ _0\"></span>d with-profits b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s that mee<span class=\"_ _0\"></span>ts the VF<span class=\"_ _2\"></span>A e<span class=\"_ _0\"></span>ligibilit<span class=\"_ _0\"></span>y criteria are dire<span class=\"_ _0\"></span>ct par<span class=\"_ _0\"></span>ticipating c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts under whi<span class=\"_ _0\"></span>ch the Group\u2019s oblig<span class=\"_ _0\"></span>ation to the polic<span class=\"_ _0\"></span>yholde<span class=\"_ _0\"></span>r is the net of:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the o<span class=\"_ _0\"></span>bligation to pay th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older an am<span class=\"_ _0\"></span>ount equal to th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>a varia<span class=\"_ _0\"></span>ble fee in excha<span class=\"_ _0\"></span>nge for fut<span class=\"_ _0\"></span>ure ser<span class=\"_ _0\"></span>vices provide<span class=\"_ _0\"></span>d by the contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, being t<span class=\"_ _0\"></span>he amount of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s sh<span class=\"_ _0\"></span>are of the fair value of the under<span class=\"_ _0\"></span>lying items le<span class=\"_ _0\"></span>ss fulfilm<span class=\"_ _0\"></span>ent cash flo<span class=\"_ _0\"></span>ws that do not var<span class=\"_ _0\"></span>y bas<span class=\"_ _0\"></span>ed on the ret<span class=\"_ _0\"></span>urns on under<span class=\"_ _0\"></span>lying items<span class=\"_ _0\"></span>. The Group p<span class=\"_ _0\"></span>rovides investm<span class=\"_ _0\"></span>ent ser<span class=\"_ _0\"></span>vices under t<span class=\"_ _0\"></span>hese co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s by giving a return b<span class=\"_ _0\"></span>ased on un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms, in a<span class=\"_ _0\"></span>ddition to insura<span class=\"_ _0\"></span>nce covera<span class=\"_ _0\"></span>ge.<span class=\"_ _3bd\"> </span>For unit-linked and wi<span class=\"_ _0\"></span>th-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s that are me<span class=\"_ _0\"></span>asured und<span class=\"_ _0\"></span>er the VF<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>, interes<span class=\"_ _0\"></span>t is not acc<span class=\"_ _0\"></span>reted on the C<span class=\"_ _0\"></span>SM using a lo<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d-in disco<span class=\"_ _0\"></span>unt rate, ins<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ad it is determ<span class=\"_ _0\"></span>ined with refere<span class=\"_ _0\"></span>nce to the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, refle<span class=\"_ _0\"></span>cting tha<span class=\"_ _0\"></span>t on these t<span class=\"_ _0\"></span>ypes of in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts the Group fe<span class=\"_ _0\"></span>es for providing investm<span class=\"_ _0\"></span>ent-related s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es are determin<span class=\"_ _0\"></span>ed with referen<span class=\"_ _0\"></span>ce to the value of th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with t<span class=\"_ _0\"></span>he policyh<span class=\"_ _0\"></span>older\u2019s polic<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. For examp<span class=\"_ _0\"></span>le, annu<span class=\"_ _0\"></span>al manag<span class=\"_ _0\"></span>ement ch<span class=\"_ _0\"></span>arges (\u2018AMC<span class=\"_ _0\"></span>\u2019) are dete<span class=\"_ _0\"></span>rmined by referen<span class=\"_ _0\"></span>ce to the value of th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older\u2019s fund valu<span class=\"_ _0\"></span>e and the sha<span class=\"_ _0\"></span>reholder<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f bon<span class=\"_ _0\"></span>uses on a with-<span class=\"_ _0\"></span>profits polic<span class=\"_ _0\"></span>y in a 90<span class=\"_ _0\"></span>:<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>0 fund is deter<span class=\"_ _0\"></span>mined ba<span class=\"_ _0\"></span>sed on the p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ance of the wit<span class=\"_ _0\"></span>h-profits fun<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The var<span class=\"_ _0\"></span>iable fee ea<span class=\"_ _0\"></span>rned by the G<span class=\"_ _0\"></span>roup is cons<span class=\"_ _0\"></span>equently t<span class=\"_ _0\"></span>he Group\u2019s share of the fair va<span class=\"_ _0\"></span>lue of underlyin<span class=\"_ _0\"></span>g items les<span class=\"_ _0\"></span>s fulfilment c<span class=\"_ _0\"></span>ash flows th<span class=\"_ _0\"></span>at do not var<span class=\"_ _0\"></span>y base<span class=\"_ _0\"></span>d on returns of the un<span class=\"_ _0\"></span>derlying i<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ms.<span class=\"_ _3bd\"> </span>For unit-linked contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s are funds th<span class=\"_ _0\"></span>at the unit price of th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>hosen by th<span class=\"_ _0\"></span>e policyho<span class=\"_ _0\"></span>lder varies w<span class=\"_ _0\"></span>ith.<span class=\"_ _3bd\"> </span>For with-p<span class=\"_ _0\"></span>rofits contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>, the unde<span class=\"_ _0\"></span>rlying items a<span class=\"_ _0\"></span>re typic<span class=\"_ _0\"></span>ally the net a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s of the relevant with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>d, includin<span class=\"_ _0\"></span>g the est<span class=\"_ _0\"></span>ate and the fair value<span class=\"_ gs47\"> </span>of no<span class=\"_ _0\"></span>n-profit contra<span class=\"_ _0\"></span>cts wit<span class=\"_ _0\"></span>hin the fund. W<span class=\"_ _0\"></span>ith-profit fun<span class=\"_ _0\"></span>ds can var<span class=\"_ _0\"></span>y in their na<span class=\"_ _0\"></span>ture and ope<span class=\"_ _0\"></span>ration, th<span class=\"_ _0\"></span>erefore will be dep<span class=\"_ _0\"></span>endent on f<span class=\"_ _0\"></span>acts and<span class=\"_ gs47\"> </span>circ<span class=\"_ _0\"></span>umsta<span class=\"_ _0\"></span>nces<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>When m<span class=\"_ _0\"></span>easurin<span class=\"_ _0\"></span>g a group of unit-linked and with<span class=\"_ _0\"></span>-profits cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s using the VFA, th<span class=\"_ _0\"></span>e Group adj<span class=\"_ _0\"></span>usts th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows for the w<span class=\"_ _0\"></span>hole of the chan<span class=\"_ _0\"></span>ges in the o<span class=\"_ _0\"></span>bligation to pay p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders an am<span class=\"_ _0\"></span>ount equal to th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms. The<span class=\"_ _0\"></span>se chan<span class=\"_ _0\"></span>ges do not re<span class=\"_ _0\"></span>late to future ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s and are reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in profit or loss<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up then adj<span class=\"_ _0\"></span>usts any C<span class=\"_ _0\"></span>SM for cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e amount of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s share of th<span class=\"_ _0\"></span>e fair value of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, which re<span class=\"_ _0\"></span>late to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es, as ex<span class=\"_ _0\"></span>plained b<span class=\"_ _0\"></span>elow.<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of the C<span class=\"_ _0\"></span>SM at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amount a<span class=\"_ _0\"></span>t the star<span class=\"_ _0\"></span>t of the year, adjus<span class=\"_ _0\"></span>ted for<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the C<span class=\"_ _0\"></span>SM of any new co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s that are add<span class=\"_ _0\"></span>ed to the group in t<span class=\"_ _0\"></span>he year;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>hange in th<span class=\"_ _0\"></span>e amount of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s sha<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value of the un<span class=\"_ _0\"></span>derlying ite<span class=\"_ _0\"></span>ms and cha<span class=\"_ _0\"></span>nges in fulfilm<span class=\"_ _0\"></span>ent cas<span class=\"_ _0\"></span>h flows that rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e to f<span class=\"_ _0\"></span>uture ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s, except to th<span class=\"_ _0\"></span>e extent th<span class=\"_ _0\"></span>at:<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>the Gro<span class=\"_ _0\"></span>up has applie<span class=\"_ _0\"></span>d the risk miti<span class=\"_ _0\"></span>gation option to exc<span class=\"_ _0\"></span>lude from the C<span class=\"_ _0\"></span>SM chan<span class=\"_ _0\"></span>ges in the ef<span class=\"_ _0\"></span>fect of fin<span class=\"_ _0\"></span>ancial risk o<span class=\"_ _0\"></span>n the amount of it<span class=\"_ _0\"></span>s share of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s or fulfilment c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>a dec<span class=\"_ _0\"></span>rease in the a<span class=\"_ _0\"></span>mount of the Group\u2019s share of th<span class=\"_ _0\"></span>e fair value of the und<span class=\"_ _0\"></span>erlying item<span class=\"_ _0\"></span>s, or an in<span class=\"_ _0\"></span>crease in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t relate to future s<span class=\"_ _0\"></span>erv<span class=\"_ _0\"></span>ices<span class=\"_ _0\"></span>, exceeds t<span class=\"_ _0\"></span>he carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unt of the CSM<span class=\"_ _0\"></span>, givin<span class=\"_ _0\"></span>g rise to a loss in p<span class=\"_ _0\"></span>rofit or loss (in<span class=\"_ _0\"></span>cluded in in<span class=\"_ _0\"></span>surance s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce expen<span class=\"_ _0\"></span>ses) and creat<span class=\"_ _0\"></span>ing a loss c<span class=\"_ _0\"></span>omponent<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span>\u2013 <span class=\"_ _29\"> </span>an incre<span class=\"_ _0\"></span>ase in the am<span class=\"_ _0\"></span>ount of the Group\u2019s share of the f<span class=\"_ _0\"></span>air value of the unde<span class=\"_ _0\"></span>rlying item<span class=\"_ _0\"></span>s, or a de<span class=\"_ _0\"></span>crease in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t relate to future s<span class=\"_ _0\"></span>erv<span class=\"_ _0\"></span>ices<span class=\"_ _0\"></span>, is allocate<span class=\"_ _0\"></span>d to the loss c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt, reversin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s previousl<span class=\"_ _0\"></span>y recog<span class=\"_ _0\"></span>nised in profit o<span class=\"_ _0\"></span>r loss (incl<span class=\"_ _0\"></span>uded in ins<span class=\"_ _0\"></span>urance service expenses);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ef<span class=\"_ _0\"></span>fect of any c<span class=\"_ _0\"></span>urrency exch<span class=\"_ _0\"></span>ange dif<span class=\"_ _0\"></span>ference<span class=\"_ _0\"></span>s on the CS<span class=\"_ _0\"></span>M; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as insuran<span class=\"_ _0\"></span>ce revenue b<span class=\"_ _0\"></span>ecaus<span class=\"_ _0\"></span>e of the ser<span class=\"_ _0\"></span>vices p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>ded in the year (s<span class=\"_ _0\"></span>ee the \u2018<span class=\"_ _0\"></span>Insuran<span class=\"_ _0\"></span>ce revenue\u2019 a<span class=\"_ _0\"></span>ccounting p<span class=\"_ _0\"></span>olicy in note C1 for f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r details).<span class=\"_ _3bd\"> </span>Chan<span class=\"_ _0\"></span>ges in fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows that relate to fu<span class=\"_ _0\"></span>ture ser<span class=\"_ _0\"></span>vice incl<span class=\"_ _0\"></span>ude the chan<span class=\"_ _0\"></span>ges rela<span class=\"_ _0\"></span>ting to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es spec<span class=\"_ _0\"></span>ified above for c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without direc<span class=\"_ _0\"></span>t part<span class=\"_ _0\"></span>icipation feat<span class=\"_ _0\"></span>ures (measure<span class=\"_ _0\"></span>d at current dis<span class=\"_ _0\"></span>count rates) an<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es in the effe<span class=\"_ _0\"></span>ct of the time va<span class=\"_ _0\"></span>lue of money an<span class=\"_ _0\"></span>d financial ri<span class=\"_ _0\"></span>sks that do not aris<span class=\"_ _0\"></span>e from underl<span class=\"_ _0\"></span>ying items<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up does not c<span class=\"_ _0\"></span>urrently appl<span class=\"_ _0\"></span>y the risk mitig<span class=\"_ _0\"></span>ation option to any m<span class=\"_ _0\"></span>aterial ex<span class=\"_ _0\"></span>tent. Loss component<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>A los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent represe<span class=\"_ _0\"></span>nts a notion<span class=\"_ _0\"></span>al record of th<span class=\"_ _0\"></span>e losse<span class=\"_ _0\"></span>s attribu<span class=\"_ _0\"></span>table to ea<span class=\"_ _0\"></span>ch group of onero<span class=\"_ _0\"></span>us insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. The los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is rele<span class=\"_ _0\"></span>ased ba<span class=\"_ _0\"></span>sed on a sy<span class=\"_ _0\"></span>stematic a<span class=\"_ _0\"></span>llocation of th<span class=\"_ _0\"></span>e subseq<span class=\"_ _0\"></span>uent chan<span class=\"_ _0\"></span>ges relatin<span class=\"_ _0\"></span>g to future se<span class=\"_ _0\"></span>rvice in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows to (i) the l<span class=\"_ _0\"></span>oss comp<span class=\"_ _0\"></span>onent<span class=\"_ _0\"></span>; and (ii) the liabilit<span class=\"_ _0\"></span>y for rema<span class=\"_ _0\"></span>ining covera<span class=\"_ _0\"></span>ge excluding th<span class=\"_ _0\"></span>e loss co<span class=\"_ _0\"></span>mponent<span class=\"_ _0\"></span>. The los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent is also up<span class=\"_ _0\"></span>dated for subs<span class=\"_ _0\"></span>equent chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates of the f<span class=\"_ _0\"></span>ulfilment cas<span class=\"_ _0\"></span>h flows and th<span class=\"_ _0\"></span>e risk adju<span class=\"_ _0\"></span>stment rel<span class=\"_ _0\"></span>ating to future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e. The sys<span class=\"_ _0\"></span>tematic all<span class=\"_ _0\"></span>ocation of sub<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nt chan<span class=\"_ _0\"></span>ges to the lo<span class=\"_ _0\"></span>ss comp<span class=\"_ _0\"></span>onent res<span class=\"_ _0\"></span>ults in the total a<span class=\"_ _0\"></span>mounts allo<span class=\"_ _0\"></span>cated to th<span class=\"_ _0\"></span>e loss com<span class=\"_ _0\"></span>ponent b<span class=\"_ _0\"></span>eing equa<span class=\"_ _0\"></span>l to z<span class=\"_ _2\"></span>ero by th<span class=\"_ _0\"></span>e end of the cover<span class=\"_ _0\"></span>age peri<span class=\"_ _0\"></span>od of a group of insura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up uses cover<span class=\"_ _0\"></span>age units a<span class=\"_ _0\"></span>s the metho<span class=\"_ _0\"></span>d of system<span class=\"_ _0\"></span>atic alloc<span class=\"_ _0\"></span>ation.<span class=\"_ _3bd\"> </span>Reinsu<span class=\"_ _2\"></span>rance contracts h<span class=\"_ _2\"></span>eld \u2013 measu<span class=\"_ _2\"></span>rement<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of a gro<span class=\"_ _0\"></span>up o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts at ea<span class=\"_ _0\"></span>ch repor<span class=\"_ _0\"></span>ting date is the s<span class=\"_ _0\"></span>um of the ass<span class=\"_ _0\"></span>et/liabilit<span class=\"_ _0\"></span>y for rem<span class=\"_ _0\"></span>aining covera<span class=\"_ _0\"></span>ge and the as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility for in<span class=\"_ _0\"></span>curred claim<span class=\"_ _0\"></span>s. The a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y for remainin<span class=\"_ _0\"></span>g coverage c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>a) th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows that re<span class=\"_ _0\"></span>late to ser<span class=\"_ _0\"></span>vices th<span class=\"_ _0\"></span>at will be re<span class=\"_ _0\"></span>ceived und<span class=\"_ _0\"></span>er the contr<span class=\"_ _0\"></span>acts in f<span class=\"_ _0\"></span>uture perio<span class=\"_ _0\"></span>ds and (b) any remain<span class=\"_ _0\"></span>ing CSM at t<span class=\"_ _0\"></span>hat date.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent of reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts he<span class=\"_ _0\"></span>ld at initial rec<span class=\"_ _0\"></span>ognition fo<span class=\"_ _0\"></span>llows the sam<span class=\"_ _0\"></span>e principle<span class=\"_ _0\"></span>s as those for in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts iss<span class=\"_ _0\"></span>ued, with t<span class=\"_ _0\"></span>he excepti<span class=\"_ _0\"></span>on of the following:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>me<span class=\"_ _0\"></span>asureme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e cash flow<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>s an allowance o<span class=\"_ _0\"></span>n a probabilit<span class=\"_ _0\"></span>y-wei<span class=\"_ _0\"></span>ghted basis fo<span class=\"_ _0\"></span>r the effec<span class=\"_ _0\"></span>t of any non-pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce by the reins<span class=\"_ _0\"></span>urers<span class=\"_ _0\"></span>, inclu<span class=\"_ _0\"></span>ding the ef<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>cts of co<span class=\"_ _0\"></span>llateral.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>sk adjus<span class=\"_ _0\"></span>tment for no<span class=\"_ _0\"></span>n-financ<span class=\"_ _0\"></span>ial risk is determ<span class=\"_ _0\"></span>ined so th<span class=\"_ _0\"></span>at it represe<span class=\"_ _0\"></span>nts the am<span class=\"_ _0\"></span>ount of risk bein<span class=\"_ _0\"></span>g transferre<span class=\"_ _0\"></span>d to the reins<span class=\"_ _0\"></span>urer and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the G<span class=\"_ _0\"></span>roup reco<span class=\"_ _0\"></span>gnises b<span class=\"_ _0\"></span>oth gains and l<span class=\"_ _0\"></span>osse<span class=\"_ _0\"></span>s at initial rec<span class=\"_ _0\"></span>ognition in th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated financ<span class=\"_ _0\"></span>ial positi<span class=\"_ _0\"></span>on as CSM a<span class=\"_ _0\"></span>nd releas<span class=\"_ _0\"></span>es this to profit or lo<span class=\"_ _0\"></span>ss as the rein<span class=\"_ _0\"></span>surer rend<span class=\"_ _0\"></span>ers ser<span class=\"_ _0\"></span>vices<span class=\"_ _0\"></span>, except for a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y p<span class=\"_ _0\"></span>ortio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f a lo<span class=\"_ _0\"></span>ss that rel<span class=\"_ _0\"></span>ates to events before in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>. Where the Gro<span class=\"_ _0\"></span>up rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s a loss on initi<span class=\"_ _0\"></span>al recog<span class=\"_ _0\"></span>nition of an onero<span class=\"_ _0\"></span>us group of unde<span class=\"_ _0\"></span>rlying contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, it es<span class=\"_ _0\"></span>tablishe<span class=\"_ _0\"></span>s a loss-<span class=\"_ _0\"></span>recover<span class=\"_ _0\"></span>y compo<span class=\"_ _0\"></span>nent of the as<span class=\"_ _0\"></span>set for remain<span class=\"_ _0\"></span>ing coverag<span class=\"_ _0\"></span>e depictin<span class=\"_ _0\"></span>g the recove<span class=\"_ _0\"></span>ry of los<span class=\"_ _0\"></span>ses rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>rein<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held are n<span class=\"_ _0\"></span>ot eligible to app<span class=\"_ _0\"></span>ly the VF<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>T<span class=\"_ _2\"></span>o determin<span class=\"_ _0\"></span>e the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt for reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts h<span class=\"_ _0\"></span>eld, the Gro<span class=\"_ _0\"></span>up will apply th<span class=\"_ _0\"></span>e approach s<span class=\"_ _0\"></span>et out above for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s both gros<span class=\"_ _0\"></span>s and net of reins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d determine th<span class=\"_ _0\"></span>e amount of risk b<span class=\"_ _0\"></span>eing trans<span class=\"_ _0\"></span>ferred to the re<span class=\"_ _0\"></span>insurer as th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween the t<span class=\"_ _0\"></span>wo result<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The lo<span class=\"_ _0\"></span>ss-re<span class=\"_ _0\"></span>covery c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt determines t<span class=\"_ _0\"></span>he amount<span class=\"_ _0\"></span>s that are subs<span class=\"_ _0\"></span>equently p<span class=\"_ _0\"></span>resente<span class=\"_ _0\"></span>d in profit or loss a<span class=\"_ _0\"></span>s reversals of re<span class=\"_ _0\"></span>coveries of los<span class=\"_ _0\"></span>ses from reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s and are exclud<span class=\"_ _0\"></span>ed from the allo<span class=\"_ _0\"></span>cation of rein<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>remiums paid<span class=\"_ _0\"></span>. It is adj<span class=\"_ _0\"></span>usted to refle<span class=\"_ _0\"></span>ct chan<span class=\"_ _0\"></span>ges in the l<span class=\"_ _0\"></span>oss comp<span class=\"_ _0\"></span>onent of the one<span class=\"_ _0\"></span>rous group of und<span class=\"_ _0\"></span>erlying co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s, but it c<span class=\"_ _0\"></span>annot exce<span class=\"_ _0\"></span>ed the p<span class=\"_ _0\"></span>ortion of th<span class=\"_ _0\"></span>e loss com<span class=\"_ _0\"></span>ponent of the o<span class=\"_ _0\"></span>nerous gro<span class=\"_ _0\"></span>up of underlying contr<span class=\"_ _0\"></span>acts th<span class=\"_ _0\"></span>at the Group ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>s to recover from th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up adjus<span class=\"_ _0\"></span>ts the C<span class=\"_ _0\"></span>SM of the group to w<span class=\"_ _0\"></span>hich a reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act be<span class=\"_ _0\"></span>longs an<span class=\"_ _0\"></span>d as a result re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es incom<span class=\"_ _0\"></span>e when it rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s a loss on initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion of onerous un<span class=\"_ _0\"></span>derlying c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s, if th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>ct is entere<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>efore or at the sa<span class=\"_ _0\"></span>me time as the o<span class=\"_ _0\"></span>nerous under<span class=\"_ _0\"></span>lying contr<span class=\"_ _0\"></span>acts are re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised. Th<span class=\"_ _0\"></span>e adjus<span class=\"_ _0\"></span>tment to the C<span class=\"_ _0\"></span>SM is determ<span class=\"_ _0\"></span>ined by multip<span class=\"_ _0\"></span>lying:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the a<span class=\"_ _0\"></span>mount of the los<span class=\"_ _0\"></span>s that relate<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts; an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the p<span class=\"_ _0\"></span>ercenta<span class=\"_ _0\"></span>ge of claims on t<span class=\"_ _0\"></span>he underly<span class=\"_ _0\"></span>ing contra<span class=\"_ _0\"></span>cts that t<span class=\"_ _0\"></span>he Group exp<span class=\"_ _0\"></span>ects to re<span class=\"_ _0\"></span>cover from the re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts. The s<span class=\"_ _0\"></span>ubseque<span class=\"_ _0\"></span>nt measure<span class=\"_ _0\"></span>ment of reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld follows th<span class=\"_ _0\"></span>e same prin<span class=\"_ _0\"></span>ciples as th<span class=\"_ _0\"></span>ose for insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts i<span class=\"_ _0\"></span>ssued<span class=\"_ _0\"></span>, with the excepti<span class=\"_ _0\"></span>on of the following:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in profit or los<span class=\"_ _0\"></span>s if the relate<span class=\"_ _0\"></span>d chang<span class=\"_ _0\"></span>es arising fro<span class=\"_ _0\"></span>m the underl<span class=\"_ _0\"></span>ying cede<span class=\"_ _0\"></span>d contra<span class=\"_ _0\"></span>cts have be<span class=\"_ _0\"></span>en reco<span class=\"_ _0\"></span>gnised in profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>. Alternative<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>, cha<span class=\"_ _0\"></span>nges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows ad<span class=\"_ _0\"></span>just the C<span class=\"_ _0\"></span>SM; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e fulfilment c<span class=\"_ _0\"></span>ash flows tha<span class=\"_ _0\"></span>t result from ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e risk of non-pe<span class=\"_ _0\"></span>rforma<span class=\"_ _0\"></span>nce by the is<span class=\"_ _0\"></span>suer of a reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract he<span class=\"_ _0\"></span>ld do not adj<span class=\"_ _0\"></span>ust the C<span class=\"_ _0\"></span>SM as they d<span class=\"_ _0\"></span>o not relate to future s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce. The ef<span class=\"_ _0\"></span>fect of the n<span class=\"_ _0\"></span>on-per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e risk of the reins<span class=\"_ _0\"></span>urer is ass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d at each re<span class=\"_ _0\"></span>portin<span class=\"_ _0\"></span>g date and t<span class=\"_ _0\"></span>he effec<span class=\"_ _0\"></span>t of chang<span class=\"_ _0\"></span>es in the non-p<span class=\"_ _0\"></span>erfor<span class=\"_ _0\"></span>mance ris<span class=\"_ _0\"></span>k is recog<span class=\"_ _0\"></span>nised in profit o<span class=\"_ _0\"></span>r loss<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Modificati<span class=\"_ _2\"></span>on and derecogni<span class=\"_ _2\"></span>tion<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up derec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>s insuranc<span class=\"_ _0\"></span>e and reinsur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s when: \u2022 <span class=\"_ _19\"> </span>the ri<span class=\"_ _0\"></span>ghts and ob<span class=\"_ _0\"></span>ligations re<span class=\"_ _0\"></span>lating to the co<span class=\"_ _0\"></span>ntract are ex<span class=\"_ _0\"></span>ting<span class=\"_ _0\"></span>uished (i.e<span class=\"_ _0\"></span>. discharg<span class=\"_ _0\"></span>ed, c<span class=\"_ _0\"></span>ancelle<span class=\"_ _0\"></span>d or expired)<span class=\"_ _0\"></span>; or<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t is modified s<span class=\"_ _0\"></span>uch that th<span class=\"_ _0\"></span>e modificat<span class=\"_ _0\"></span>ion result<span class=\"_ _0\"></span>s in a change in t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement mo<span class=\"_ _0\"></span>del, or the a<span class=\"_ _0\"></span>pplicabl<span class=\"_ _0\"></span>e stand<span class=\"_ _0\"></span>ard for meas<span class=\"_ _0\"></span>uring a comp<span class=\"_ _0\"></span>onent of the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>. In such c<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>, the Group de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nises the ini<span class=\"_ _0\"></span>tial contra<span class=\"_ _0\"></span>ct and re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>es the modifi<span class=\"_ _0\"></span>ed contra<span class=\"_ _0\"></span>ct as a new c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Disclosur<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> gro<span class=\"_ _0\"></span>ups<span class=\"_ _2\"></span> The Gro<span class=\"_ _0\"></span>up disag<span class=\"_ _0\"></span>gregate<span class=\"_ _0\"></span>s in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation for the p<span class=\"_ _0\"></span>urposes of m<span class=\"_ _0\"></span>aking the disc<span class=\"_ _0\"></span>losures re<span class=\"_ _0\"></span>quired by IFR<span class=\"_ _0\"></span>S 17 int<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e following disc<span class=\"_ _0\"></span>losure group<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Retir<span class=\"_ _2\"></span>ement Solutions;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ns &amp; Savings;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>With<span class=\"_ _0\"></span>-Profits; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span>The dis<span class=\"_ _0\"></span>closure gro<span class=\"_ _0\"></span>ups are aligne<span class=\"_ _0\"></span>d to the seg<span class=\"_ _0\"></span>ments us<span class=\"_ _0\"></span>ed for se<span class=\"_ _0\"></span>gmental re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting in note B1.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6d9\">The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>hows a summa<span class=\"_ _0\"></span>ry of the c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing amount of ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s and the rela<span class=\"_ _0\"></span>ted reinsura<span class=\"_ _0\"></span>nce contr<span class=\"_ _0\"></span>acts in th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6da\">of<span class=\"_ gs47\"> </span>cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial po<span class=\"_ _0\"></span>sition. </div><div class=\"gs6db\"><table class=\"s w677 h257\" id=\"_1dad4565-d931-4ae4-ae3a-a76e05fcf87b\"><tr><td></td><td class=\"t m0 x53b h29 y5e2c ff3 fs5 fc3 sc0 lsbe wsbe\">Retirement </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y5e2d ff3 fs5 fc3 sc0 ls8d ws86\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53d h29 y5e2d ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53e h29 y5e2d ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x53f h29 y5e2d ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y5e2d ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y5e2e ff2 fs5 fc3 sc0 ls10b wsb1\">20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y5e2e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5e2e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y5e2e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y5e2e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y5e2e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5e2f ff3 fs6 fc3 sc0 ls5f ws122\">Insurance contract<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e30 w678 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value of future c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef3 y5e30 w679 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">(<span class=\"_ _0\"></span>37,<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef4 y5e30 w67a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(<span class=\"_ _0\"></span>22,16<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef5 y5e30 w67b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(<span class=\"_ _0\"></span>26,1<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef6 y5e30 w67c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(23,108)</div></td><td class=\"c n xef7 y5e30 w67d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>09<span class=\"_ _0\"></span>,35<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e31 w67e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Risk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef8 y5e31 w67f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">(826)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef9 y5e31 w331 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(78<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xefa y5e31 w4dc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xefb y5e31 w1e8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xefc y5e31 w174 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>206<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e32 w680 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xefd y5e32 w681 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d ws1f\">(<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>,000<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xefe y5e32 w73 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">(26<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6e8 y5e32 w17e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>633)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeff y5e32 w127 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(329<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf00 y5e32 w682 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5,23<span class=\"_ _2\"></span>1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af8 w683 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Net insurance contract liabiliti<span class=\"_ _2\"></span>es issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf01 y5af8 w684 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">(<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf02 y5af8 w685 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf03 y5af8 w140 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>26<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>74)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf04 y5af8 w686 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6c ws1ca\">(23,650)</div></td><td class=\"c n xf05 y5af8 w687 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(115,79<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e33 w137 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf06 y5e33 w684 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">(<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf07 y5e33 w688 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(2<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>507<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf08 y5e33 w140 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>874)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf09 y5e33 w686 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">(23,650)</div></td><td class=\"c n xf0a y5e33 w689 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(115,791)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e34 w68a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0b y5e34 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0c y5e34 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0d y5e34 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0e y5e34 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0f y5e34 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w683 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Net insurance contract liabiliti<span class=\"_ _2\"></span>es issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf01 y5a68 w684 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">(<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf02 y5a68 w685 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf03 y5a68 w140 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>26<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>74)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf04 y5a68 w686 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6c ws1ca\">(23,650)</div></td><td class=\"c n xf05 y5a68 w687 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(115,79<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5e35 ff3 fs6 fc3 sc0 ls5f ws122\">Reinsurance contracts held<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e36 w678 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value of future c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf10 y5e36 w60d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>307<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf11 y5e36 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf12 y5e36 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">736<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf13 y5e36 w2e1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">322<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf14 y5e36 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,36<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e37 w67e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Risk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf15 y5e37 w68b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">575<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf16 y5e37 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9e y5e37 w1f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x713 y5e37 w68c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">76<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf17 y5e37 w25a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">686<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e38 w680 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf18 y5e38 w68d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,694<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf19 y5e38 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1a y5e38 w307 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1b y5e38 wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1c y5e38 w68e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>974<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c22 w68f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Net reinsurance contract assets held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1d y5c22 w4b0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">3<span class=\"_ _0\"></span>,576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1e y5c22 w4c6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1f y5c22 w52c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">911<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf20 y5c22 w47 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">531<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf21 y5c22 w41f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5<span class=\"_ _0\"></span>,029<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c06 wf7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf22 y5c06 w690 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf23 y5c06 w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf24 y5c06 w52c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">911<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf25 y5c06 w47 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">531<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf26 y5c06 w691 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,187<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w13a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf27 y5c07 w66 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf28 y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf29 y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2a y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2b y5c07 w66 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w68f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Net reinsurance contract assets held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1d y5a16 w4b0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">3<span class=\"_ _0\"></span>,576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1e y5a16 w4c6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1f y5a16 w52c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">911<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf20 y5a16 w47 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">531<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf21 y5a16 w41f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5<span class=\"_ _0\"></span>,029<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs6dc\"><table class=\"s w692 h258\" id=\"_b43b17e6-2c21-4f06-8482-b6628d4ce2e6\"><tr><td></td><td class=\"t m0 x647 ha y5e39 ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x59c ha y5e3a ff2 fs5 fc3 sc0 ls11 ws11\">Solutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x648 ha y5e3a ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; S<span class=\"_ _0\"></span>aving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x649 ha y5e3a ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x64a ha y5e3a ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5e3a ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y5e3b w693 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsa4 ws9f\">202<span class=\"_ _0\"></span>3 (rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xe50 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 x5a3 ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x5a4 ha y5e3c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y5e3c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5e3c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5e3c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5e3c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y5e3d ff3 fs6 fc3 sc0 ls5f ws122\">Insurance contract<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1d4 y5e3e w694 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value of future c<span class=\"_ _0\"></span>ash flows (res<span class=\"_ _0\"></span>tated</div><div class=\"t m0 xf2c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 xf2d hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2e y5e3e w695 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>5,7<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2f y5e3e w696 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(23<span class=\"_ _0\"></span>,16<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf30 y5e3e w697 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>7,7<span class=\"_ _1\"></span>0<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf31 y5e3e w698 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(23,<span class=\"_ _0\"></span>195<span class=\"_ _0\"></span>)</div></td><td class=\"c n xf32 y5e3e w699 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>109,772)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e3f w67e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Risk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xef8 y5e3f w1ec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(76<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf33 y5e3f w4e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(8<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf34 y5e3f w352 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(10<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf35 y5e3f w316 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>217<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf36 y5e3f w608 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>1,172)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e40 w69a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>stated</div><div class=\"t m0 xf37 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 xc88 hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf38 y5e40 w69b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf39 y5e40 w69c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">(201<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf3a y5e40 w69d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>589)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf3b y5e40 w5fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf3c y5e40 w69e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(4<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span>78<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e42 w69f h259\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Net insurance contract liabiliti<span class=\"_ _2\"></span>es issue<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (restated</div><div class=\"t m0 xb6e h79 y5e41 ff3 fs9 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 xf3d hc y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf3e y5af8 w6a0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(4<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>229)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf3f y5af8 w6a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>23,4<span class=\"_ _0\"></span>49)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf40 y5af8 w6a2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28,<span class=\"_ _0\"></span>393)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf41 y5af8 w6a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>23,65<span class=\"_ _0\"></span>6)</div></td><td class=\"c n xf42 y5af8 w6a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,72<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e43 w137 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf06 y5e43 w6a0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>40,<span class=\"_ _0\"></span>229)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf43 y5e43 w6a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>23,4<span class=\"_ _0\"></span>49)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf44 y5e43 w6a5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28,<span class=\"_ _0\"></span>393<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf45 y5e43 w698 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(23,<span class=\"_ _0\"></span>656<span class=\"_ _0\"></span>)</div></td><td class=\"c n xf46 y5e43 w6a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5,7<span class=\"_ _0\"></span>27<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c63 w68a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0b y5c63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf47 y5c63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf48 y5c63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf49 y5c63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf4a y5c63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w683 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Net insurance contract liabiliti<span class=\"_ _2\"></span>es issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf01 y5a68 w6a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(4<span class=\"_ _0\"></span>0,229<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf4b y5a68 w6a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>23,4<span class=\"_ _0\"></span>49)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf4c y5a68 w6a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28,<span class=\"_ _0\"></span>39<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf4d y5a68 w698 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>23,656<span class=\"_ _0\"></span>)</div></td><td class=\"c n xf4e y5a68 w6a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,72<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5e44 ff3 fs6 fc3 sc0 ls5f ws122\">Reinsurance contracts held<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5bb3 w678 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value of future c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf4f y5bb3 w594 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">935<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9d y5bb3 w2a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xac6 y5bb3 w6a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">820<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf50 y5bb3 w6aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">391<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf51 y5bb3 w132 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2,16<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w67e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Risk adjus<span class=\"_ _0\"></span>tment<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf15 y5bd8 w1c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf52 y5bd8 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf53 y5bd8 w1a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf54 y5bd8 w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf55 y5bd8 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">6<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd9 w680 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf56 y5bd9 w6ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,60<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf57 y5bd9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf58 y5bd9 w13c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">147<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf59 y5bd9 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">179<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5a y5bd9 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,930<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c22 w68f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Net reinsurance contract assets held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5b y5c22 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">3,<span class=\"_ _0\"></span>076<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5c y5c22 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5d y5c22 w45e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x23d y5c22 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5e y5c22 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 wf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5f y5b24 w6ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3,<span class=\"_ _0\"></span>223<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf60 y5b24 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf61 y5b24 w45f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf62 y5b24 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf63 y5b24 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4<span class=\"_ _0\"></span>,876<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w13a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf64 y5b25 w6ad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x635 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf65 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf66 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf67 y5b25 w6ad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w68f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Net reinsurance contract assets held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5b y5a16 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">3,<span class=\"_ _0\"></span>076<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5c y5a16 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5d y5a16 w45e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x23d y5a16 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf5e y5a16 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6dd\">1 <span class=\"_ _9\"> </span>The s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>ntal p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>ntati<span class=\"_ _0\"></span>on of the \u2018<span class=\"_ _0\"></span>Est<span class=\"_ _0\"></span>imate<span class=\"_ _0\"></span>s of pres<span class=\"_ _0\"></span>ent val<span class=\"_ _0\"></span>ue of fut<span class=\"_ _0\"></span>ure cas<span class=\"_ _0\"></span>h flows\u2019 fo<span class=\"_ _0\"></span>r the ye<span class=\"_ _0\"></span>ar ende<span class=\"_ _0\"></span>d 31 De<span class=\"_ _0\"></span>cem<span class=\"_ _0\"></span>ber 202<span class=\"_ _0\"></span>3 was re<span class=\"_ _0\"></span>stat<span class=\"_ _0\"></span>ed to inc<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>e the val<span class=\"_ _0\"></span>ues by \u00a3(<span class=\"_ _0\"></span>628) m<span class=\"_ _0\"></span>illion f<span class=\"_ _0\"></span>or Retir<span class=\"_ _0\"></span>emen<span class=\"_ _0\"></span>t Solu<span class=\"_ _0\"></span>tions<span class=\"_ _0\"></span>, by </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6de\">\u00a3(1<span class=\"_ _0\"></span>,123) m<span class=\"_ _0\"></span>illion f<span class=\"_ _0\"></span>or Pensi<span class=\"_ _0\"></span>ons &amp; Sa<span class=\"_ _0\"></span>ving<span class=\"_ _0\"></span>s, and b<span class=\"_ _0\"></span>y \u00a3(36<span class=\"_ _0\"></span>6) mil<span class=\"_ _0\"></span>lion for E<span class=\"_ _0\"></span>urope &amp; O<span class=\"_ _0\"></span>ther, an<span class=\"_ _0\"></span>d ther<span class=\"_ _0\"></span>e was a cor<span class=\"_ _0\"></span>resp<span class=\"_ _0\"></span>ondin<span class=\"_ _0\"></span>g decr<span class=\"_ _0\"></span>ease o<span class=\"_ _0\"></span>f \u00a32,117 m<span class=\"_ _0\"></span>illion f<span class=\"_ _0\"></span>or the Wi<span class=\"_ _0\"></span>th-Pr<span class=\"_ _0\"></span>ofits s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt. In a<span class=\"_ _0\"></span>dditi<span class=\"_ _0\"></span>on, \u2018<span class=\"_ _0\"></span>Est<span class=\"_ _0\"></span>imate<span class=\"_ _0\"></span>s of pres<span class=\"_ _0\"></span>ent </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6df\">val<span class=\"_ _0\"></span>ue of fut<span class=\"_ _0\"></span>ure cas<span class=\"_ _0\"></span>h flows\u2019 w<span class=\"_ _0\"></span>as res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>d follow<span class=\"_ _0\"></span>ing the r<span class=\"_ _0\"></span>ecen<span class=\"_ _0\"></span>t IFRS 17 v<span class=\"_ _0\"></span>aluat<span class=\"_ _0\"></span>ion upd<span class=\"_ _0\"></span>ates an<span class=\"_ _0\"></span>d was re<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d by \u00a314 m<span class=\"_ _0\"></span>illion (s<span class=\"_ _0\"></span>ee not<span class=\"_ _0\"></span>e A3 for fur<span class=\"_ _0\"></span>the<span class=\"_ _0\"></span>r deta<span class=\"_ _0\"></span>ils). The<span class=\"_ _0\"></span>se ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>s also i<span class=\"_ _0\"></span>mpac<span class=\"_ _0\"></span>ted th<span class=\"_ _0\"></span>e CSM an<span class=\"_ _0\"></span>d as a res<span class=\"_ _0\"></span>ult </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6e0\">the R<span class=\"_ _0\"></span>etire<span class=\"_ _0\"></span>ment S<span class=\"_ _0\"></span>oluti<span class=\"_ _0\"></span>ons CS<span class=\"_ _0\"></span>M incr<span class=\"_ _0\"></span>ease<span class=\"_ _0\"></span>d by \u00a3(8<span class=\"_ _0\"></span>) millio<span class=\"_ _0\"></span>n and the W<span class=\"_ _0\"></span>ith-<span class=\"_ _0\"></span>Profit<span class=\"_ _0\"></span>s CSM re<span class=\"_ _0\"></span>duc<span class=\"_ _0\"></span>ed by \u00a38 mi<span class=\"_ _0\"></span>llion<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs6e2\">F2. M<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>vem<span class=\"_ _0\"></span>ents in present value of fut<span class=\"_ _0\"></span>ure cash flows<span class=\"_ _0\"></span>, risk adjus<span class=\"_ _0\"></span>tment and CS<span class=\"_ _0\"></span>M of insurance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6e3\">The re<span class=\"_ _0\"></span>conciliat<span class=\"_ _0\"></span>ions below p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>de a roll-forwar<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e net ass<span class=\"_ _0\"></span>et or liabilit<span class=\"_ _0\"></span>y for insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts is<span class=\"_ _0\"></span>sued by m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent compo<span class=\"_ _0\"></span>nent, sh<span class=\"_ _0\"></span>owing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6e4\">es<span class=\"_ _0\"></span>timates of the pre<span class=\"_ _0\"></span>sent value of fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s, the ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for no<span class=\"_ _0\"></span>n-financi<span class=\"_ _0\"></span>al risk and th<span class=\"_ _0\"></span>e CSM<span class=\"_ _0\"></span>. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs6e5\">Insurance contracts<span class=\"_ _3bd\"> </span></div><div class=\"gs6e6\"><table class=\"s w6ae h25a\" id=\"_d8de8070-f7dc-496f-b9e1-bf8f3f772a18\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5e45 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5e45 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xbff ha y5e46 ff2 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timat<span class=\"_ _0\"></span>es of </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5e47 ff3 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>tes of </td><td></td><td></td><td></td><td class=\"t m0 xa13 ha y5e47 ff2 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5e48 ff3 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>res<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td class=\"t m0 xf69 ha y5e48 ff2 fs5 fc3 sc0 ls11 ws11\">value of<span class=\"_ _2\"></span> </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xf6a h29 y5e49 ff3 fs5 fc3 sc0 ls1 ws1\">val<span class=\"_ _0\"></span>ue of </td><td></td><td class=\"t m0 x6bc h29 y5e49 ff3 fs5 fc3 sc0 lsbe wsbe\">Contractual </td><td></td><td class=\"t m0 x3bc ha y5e49 ff2 fs5 fc3 sc0 ls1 ws1\">fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh </td><td></td><td class=\"t m0 xe3c ha y5e4a ff2 fs5 fc3 sc0 ls11 ws11\">Contractual </td><td></td></tr><tr><td></td><td class=\"t m0 xf6b h29 y5e4b ff3 fs5 fc3 sc0 ls1 ws1\">fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh </td><td class=\"t m0 xf6c h29 y5e4b ff3 fs5 fc3 sc0 lsa6 wsa1\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5e4b ff3 fs5 fc3 sc0 ls1 ws1\">se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e </td><td></td><td class=\"t m0 xd07 ha y5e4b ff2 fs5 fc3 sc0 ls26 wsc6\">flows<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6d ha y5e4c ff2 fs5 fc3 sc0 ls22 ws24\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y5e4c ff2 fs5 fc3 sc0 ls21 ws23\">ser<span class=\"_ _0\"></span>vice margin<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5e4c ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5e4d ff3 fs5 fc3 sc0 ls105 ws107\">flows<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6e h29 y5e4d ff3 fs5 fc3 sc0 ls9e ws9a\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5e4d ff3 fs5 fc3 sc0 ls65 wsc0\">margin<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5e4d ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"c xf70 y5e4e w6af h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf6f h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x9e2 ha y5e4f ff2 fs5 fc3 sc0 ls4d wsbf\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"c xf72 y5e50 w6b0 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf71 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"c x289 y5e50 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h29 y5e51 ff3 fs5 fc3 sc0 ls22 ws24\">Retirement So<span class=\"_ _0\"></span>lutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5e51 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5e51 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5e51 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5e51 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5e52 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5e52 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5e52 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5e52 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5e53 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e54 w165 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">as<span class=\"_ gs47\"> </span>rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf73 y5e54 w3d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">35,03<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf74 y5e54 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">767</div></td><td class=\"c n xf75 y5e54 w6b1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>41</div></td><td class=\"c n xf76 y5e54 w6b2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">39,<span class=\"_ _0\"></span>544</div></td><td class=\"c n xf77 y5e54 w6b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf78 y5e54 w6b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">6<span class=\"_ _0\"></span>81</div></td><td class=\"c n xf79 y5e54 w6b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>821</div></td><td class=\"c n xf7a y5e54 w512 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">3<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e55 w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe48 y5e56 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">677<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf7b y5e56 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf7c y5e56 w1a8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf7d y5e56 w158 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1dd ws1f7\">685<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x28c hc y5e57 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e58 w6b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(re<span class=\"_ _0\"></span>st<span class=\"_ _0\"></span>ate<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf7e y5e58 w6b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">35<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf7f y5e58 we0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">767</div></td><td class=\"c n xf80 y5e58 w6b8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9</div></td><td class=\"c n xf81 y5e58 w6b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">4<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>229</div></td><td class=\"c n xf82 y5e58 w2e9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf83 y5e58 w2d4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">6<span class=\"_ _0\"></span>81</div></td><td class=\"c n xf84 y5e58 w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>21</div></td><td class=\"c n xf85 y5e58 w6ba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">34<span class=\"_ _0\"></span>,281<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e59 w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf86 y5e59 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf87 y5e59 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf88 y5e59 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf89 y5e59 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8a y5e59 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8b y5e59 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8c y5e59 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8d y5e59 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e5a w6bc h25b\"><div class=\"t m0 x1cf h23 y5a7e ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8e y5e5a w41c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">3<span class=\"_ _0\"></span>5,7<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8f y5e5a w68b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">767</div></td><td class=\"c n xf90 y5e5a w170 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9</div></td><td class=\"c n xf91 y5e5a w6bd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">4<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>229</div></td><td class=\"c n xf92 y5e5a w3f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>79<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf93 y5e5a w2d4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">6<span class=\"_ _0\"></span>81</div></td><td class=\"c n xf94 y5e5a w6b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2,<span class=\"_ _0\"></span>821</div></td><td class=\"c n xf95 y5e5a w512 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">3<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e5b ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in profit or lo<span class=\"_ _0\"></span>ss:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e5c w6be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf96 y5e5c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf97 y5e5c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf98 y5e5c w27d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>278<span class=\"_ _0\"></span>)</div></td><td class=\"c n xf99 y5e5c w6bf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>278<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf9a y5e5c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf9b y5e5c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf9c y5e5c w6c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>0)</div></td><td class=\"c n xf9d y5e5c w6c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e5d w6c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent for the risk ex<span class=\"_ _0\"></span>pired<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf9e y5e5d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc80 y5e5d w6c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">(<span class=\"_ _0\"></span>71)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf9f y5e5d w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa0 y5e5d w6c3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">(<span class=\"_ _0\"></span>71<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa1 y5e5d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa2 y5e5d w11c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(39)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa3 y5e5d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa4 y5e5d w11c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(39)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e5e w6c4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Experience adjustments</div><div class=\"t m0 xfa5 h11 y5d6e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa6 y5e5f w6c5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa7 y5e5f w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa8 y5e5f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa9 y5e5f w635 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfaa y5e5f w6c6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">(27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfab y5e5f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa3 y5e5f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfac y5e5f w6c7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e60 w2b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charges<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfad y5e60 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfae y5e60 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfaf y5e60 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb0 y5e60 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb1 y5e60 w20d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb2 y5e60 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb3 y5e60 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb4 y5e60 w20d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e61 w6c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to current se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb5 y5e61 w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb6 y5e61 w6c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e4 ws200\">(<span class=\"_ _0\"></span>71<span class=\"_ _0\"></span>)</div></td><td class=\"c n xfb7 y5e61 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>278<span class=\"_ _0\"></span>)</div></td><td class=\"c n xfb8 y5e61 w301 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(352)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb9 y5e61 w28f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfba y5e61 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(39)</div></td><td class=\"c n xfbb y5e61 w6ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>)</div></td><td class=\"c n xfbc y5e61 w6cb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>327<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e62 w6cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfbd y5e62 w6cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(488)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfbe y5e62 w221 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfbf y5e62 w268 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">360<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc0 y5e62 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc1 y5e62 w6ce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(6<span class=\"_ _0\"></span>02)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc2 y5e62 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">167<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc3 y5e62 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc0 y5e62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e63 w6cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM</div><div class=\"t m0 xfc4 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf3 y5e63 w6d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc5 y5e63 w6d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc6 y5e63 w6d2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc7 y5e63 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc8 y5e63 w6d3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">(<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc9 y5e63 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(92)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfca y5e63 w169 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">666<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfcb y5e63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e64 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that d<span class=\"_ _0\"></span>o not adjus<span class=\"_ _0\"></span>t </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e65 w3dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">the<span class=\"_ gs47\"> </span>CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfcc y5e65 w6d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfcd y5e65 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfce y5e65 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfcf y5e65 w4d3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd0 y5e65 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd1 y5e65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd2 y5e65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd3 y5e65 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e66 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></td><td class=\"c n xf2d y5e67 w6d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(5<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd4 y5e67 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">155<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd5 y5e67 w6d6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd6 y5e67 w4d3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)</div></td><td class=\"c n xfd7 y5e67 w31d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>175<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfd8 y5e67 w6d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">75</div></td><td class=\"c n xfd9 y5e67 w6d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,10<span class=\"_ _2\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfda y5e67 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e68 ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s to liabilities for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e69 w6d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">(past service)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1c y5e69 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdb y5e69 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdc y5e69 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x635 y5e69 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdd y5e69 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfde y5e69 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdf y5e69 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe0 y5e69 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e6a ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>irment of ass<span class=\"_ _0\"></span>ets for insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e6b w6da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">cash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe1 y5e6b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe2 y5e6b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe3 y5e6b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe4 y5e6b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe5 y5e6b w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa74 y5e6b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe6 y5e6b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab9 y5e6b w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e6c w6db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe7 y5e6c w6dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(596)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe8 y5e6c w6dd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls177 ws186\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf2 y5e6c w6de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">148<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe9 y5e6c w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(36<span class=\"_ _0\"></span>4)</div></td><td class=\"c n xfea y5e6c w328 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,<span class=\"_ _0\"></span>098)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfeb y5e6c w2d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfec y5e6c w33f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">8<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfed y5e6c w6df h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(2<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e6d w6e0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">Insura<span class=\"_ _2\"></span>nce finance (<span class=\"_ _2\"></span>income)<span class=\"_ _2\"></span>/<span class=\"_ _4\"></span>expense</div><div class=\"t m0 xfee h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2d y5e6e w66d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(614)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfef y5e6e w20b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff0 y5e6e w6e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">103<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff1 y5e6e w6e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(536)</div></td><td class=\"c n xff2 y5e6e w64d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>971<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff3 y5e6e w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff4 y5e6e w225 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">62</div></td><td class=\"c n xff5 y5e6e w5b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5e6f ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal chang<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> in consolidated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e70 w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff6 y5e70 w6e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>210<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff7 y5e70 w1e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">59<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff8 y5e70 w50a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee7 y5e70 wc0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(90<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xff9 y5e70 w70 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">873<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xffa y5e70 w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xffb y5e70 w6e5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">9<span class=\"_ _0\"></span>03</div></td><td class=\"c n xffc y5e70 w121 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>816<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5e71 ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e72 w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xffd y5e72 w6e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">5,853<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xffe y5e72 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfff y5e72 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1000 y5e72 w6e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">5,853</div></td><td class=\"c n x1001 y5e72 w145 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>421<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1002 y5e72 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1003 y5e72 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1004 y5e72 w145 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>421<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e73 w6e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x1005 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1006 y5e73 w18d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(3,6<span class=\"_ _0\"></span>57)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1007 y5e73 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1008 y5e73 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1009 y5e73 w6e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(3,6<span class=\"_ _0\"></span>57)</div></td><td class=\"c n x100a y5e73 w408 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>52<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x100b y5e73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe4e y5e73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x100c y5e73 w6ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e74 w6eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x100d y5e74 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>73)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x100e y5e74 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x100f y5e74 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1010 y5e74 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>73)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1011 y5e74 w1bc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>38)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1012 y5e74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1013 y5e74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1014 y5e74 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(38)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e75 w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1015 y5e75 w525 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">2<span class=\"_ _0\"></span>,123<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfcd y5e75 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfce y5e75 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1016 y5e75 w6ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">2,<span class=\"_ _0\"></span>123</div></td><td class=\"c n x1017 y5e75 w6ee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1018 y5e75 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1019 y5e75 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x101a y5e75 w6ef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e76 w6f0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x101b h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">1.2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x101c y5e77 w6f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls69 ws18a\">1,<span class=\"_ _0\"></span>308<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x101d y5e77 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x101e y5e77 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x101f y5e77 w6f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls69 ws18a\">1<span class=\"_ _0\"></span>,308</div></td><td class=\"c n x1020 y5e77 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1,<span class=\"_ _0\"></span>430<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1021 y5e77 w1a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1022 y5e77 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25</div></td><td class=\"c n x1023 y5e77 w6f3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,501<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e78 w6bc h25c\"><div class=\"t m0 x1cf h23 y5a89 ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1024 y5e78 w6f4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">37,<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1025 y5e78 w50e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">8<span class=\"_ _0\"></span>26</div></td><td class=\"c n x1026 y5e78 w6f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">4,<span class=\"_ _2\"></span>000</div></td><td class=\"c n x1027 y5e78 w41c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">42<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1028 y5e78 w6f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,71<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1029 y5e78 w249 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">767</div></td><td class=\"c n x102a y5e78 w6f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9</div></td><td class=\"c n x102b y5e78 w6f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4<span class=\"_ _0\"></span>0,229<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e79 w6f9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div><div class=\"t m0 x102c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1</div></td><td class=\"c n x102d y5e0d w42e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">3<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102e y5e0d w50e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">8<span class=\"_ _0\"></span>26</div></td><td class=\"c n x102f y5e0d w6f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">4<span class=\"_ _2\"></span>,000</div></td><td class=\"c n x1030 y5e0d w41c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">42<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1031 y5e0d w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,71<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1032 y5e0d w27e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">767</div></td><td class=\"c n x1033 y5e0d w460 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9</div></td><td class=\"c n x1034 y5e0d w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4<span class=\"_ _0\"></span>0,229<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e7a w6fa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1035 y5e7a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1036 y5e7a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1037 y5e7a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1038 y5e7a w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1039 y5e7a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103a y5e7a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103b y5e7a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103c y5e7a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b44 w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x103d h11 y5cae ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5b4c w42e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">3<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102e y5b4c w50e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">8<span class=\"_ _0\"></span>26</div></td><td class=\"c n x102f y5b4c w6f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">4<span class=\"_ _2\"></span>,000</div></td><td class=\"c n x1030 y5b4c w41c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">42<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1031 y5b4c w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">3<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>,71<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1032 y5b4c w27e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">767</div></td><td class=\"c n x1033 y5b4c w460 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9</div></td><td class=\"c n x1034 y5b4c w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4<span class=\"_ _0\"></span>0,229<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6e8\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e notes F<span class=\"_ _0\"></span>1 and A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6e9\">2 <span class=\"_ _1a\"> </span>\u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>514 millio<span class=\"_ _0\"></span>n incl<span class=\"_ _0\"></span>uded in \u2018<span class=\"_ _0\"></span>Es<span class=\"_ _0\"></span>timat<span class=\"_ _0\"></span>es of the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt value o<span class=\"_ _0\"></span>f futur<span class=\"_ _0\"></span>e cash fl<span class=\"_ _0\"></span>ows\u2019 in 20<span class=\"_ _0\"></span>23 rela<span class=\"_ _0\"></span>tes to th<span class=\"_ _0\"></span>e fair val<span class=\"_ _0\"></span>ue of ins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s acq<span class=\"_ _0\"></span>uired a<span class=\"_ _0\"></span>s par<span class=\"_ _0\"></span>t of the ac<span class=\"_ _0\"></span>quisi<span class=\"_ _0\"></span>tion of Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s Limit<span class=\"_ _0\"></span>ed </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6ea\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d (see no<span class=\"_ _0\"></span>te H2). Es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>tes of the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt valu<span class=\"_ _0\"></span>e of futu<span class=\"_ _0\"></span>re cash fl<span class=\"_ _0\"></span>ows in 20<span class=\"_ _0\"></span>24 inclu<span class=\"_ _0\"></span>des \u00a31<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>05 mi<span class=\"_ _0\"></span>llion of p<span class=\"_ _0\"></span>remium i<span class=\"_ _0\"></span>n resp<span class=\"_ _0\"></span>ect of th<span class=\"_ _0\"></span>e PGL Pe<span class=\"_ _0\"></span>nsion S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me buy<span class=\"_ _0\"></span>-ou<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w6fb h25e\" id=\"_e9446594-61a1-4f50-b620-fd75008a35e0\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5e7c w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5e7c w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xbff ha y5e7d ff2 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timat<span class=\"_ _0\"></span>es of </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5e7e ff3 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>tes of </td><td></td><td></td><td></td><td class=\"t m0 xa13 ha y5e7e ff2 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5e7f ff3 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>res<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td class=\"t m0 xf69 ha y5e7f ff2 fs5 fc3 sc0 ls11 ws11\">value of<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xf6a h29 y5e80 ff3 fs5 fc3 sc0 ls1 ws1\">val<span class=\"_ _0\"></span>ue of </td><td></td><td class=\"t m0 x6bc h29 y5e80 ff3 fs5 fc3 sc0 lsbe wsbe\">Contractual </td><td></td><td class=\"t m0 xa13 ha y5e80 ff2 fs5 fc3 sc0 ls1 ws1\"> fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh </td><td></td><td class=\"t m0 xe3c ha y5e81 ff2 fs5 fc3 sc0 ls11 ws11\">Contractual </td><td></td></tr><tr><td></td><td class=\"t m0 xf6b h29 y5e82 ff3 fs5 fc3 sc0 ls1 ws1\">fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh </td><td class=\"t m0 xf6c h29 y5e82 ff3 fs5 fc3 sc0 lsa6 wsa1\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5e82 ff3 fs5 fc3 sc0 ls1 ws1\">se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e </td><td></td><td class=\"t m0 xd07 ha y5e82 ff2 fs5 fc3 sc0 ls26 wsc6\">flows<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6d ha y5e83 ff2 fs5 fc3 sc0 ls22 ws24\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ee ha y5e83 ff2 fs5 fc3 sc0 ls10c ws10d\">service<span class=\"ls1 ws1\"> </span></td><td class=\"t m0 x607 ha y5e83 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> <span class=\"ls1 ws1\"> </span></td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5e84 ff3 fs5 fc3 sc0 ls105 ws107\">flows<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6e h29 y5e84 ff3 fs5 fc3 sc0 ls9e ws9a\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5e84 ff3 fs5 fc3 sc0 ls65 wsc0\">margin<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5e84 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"c x103f y5e85 w6fc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x103e h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x9e2 ha y5e86 ff2 fs5 fc3 sc0 ls4d wsbf\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ee ha y5e86 ff2 fs5 fc3 sc0 ls21 ws23\">margin<span class=\"_ _3bd\"> </span></td><td class=\"c x289 y5e85 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h29 y5e87 ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5e87 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5e87 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5e87 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5e87 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5e88 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5e88 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5e88 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5e88 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5e89 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e8a w165 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">as<span class=\"_ gs47\"> </span>rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf73 y5e8a w6fd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1040 y5e8a w6dd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls177 ws186\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1041 y5e8a w55d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">201</div></td><td class=\"c n x1042 y5e8a w6fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _0\"></span>,326</div></td><td class=\"c n x1043 y5e8a w6ff h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _1\"></span>,35<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1044 y5e8a w1e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dd ws1f7\">89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1045 y5e8a w700 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">94</div></td><td class=\"c n x1046 y5e8a w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>53<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5e8b w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1047 y5e8c w525 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,123<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1048 y5e8c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1049 y5e8c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x104a y5e8c w4f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x104b y5e8c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x104c y5e8c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x104d y5e8c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x104e y5e8c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e8d ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e8e w6b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(re<span class=\"_ _0\"></span>st<span class=\"_ _0\"></span>ate<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x104f y5e8e w65b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,1<span class=\"_ _0\"></span>64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1050 y5e8e w6dd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls177 ws186\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1051 y5e8e w501 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">201</div></td><td class=\"c n x1052 y5e8e w702 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>449</div></td><td class=\"c n x1053 y5e8e w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>35<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1054 y5e8e w1e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dd ws1f7\">89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1055 y5e8e w289 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">94</div></td><td class=\"c n x1056 y5e8e w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>33<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e8f w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1057 y5e8f w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1058 y5e8f w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1059 y5e8f w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105a y5e8f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105b y5e8f w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105c y5e8f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105d y5e8f wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105e y5e8f w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e90 w6bc h25f\"><div class=\"t m0 x1cf h23 y5a82 ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105f y5e90 w65b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1060 y5e90 w6dd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls177 ws186\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1061 y5e90 w55d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">201</div></td><td class=\"c n x1062 y5e90 w703 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>49</div></td><td class=\"c n x1063 y5e90 w3d3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5e wsb2\">21,302<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1064 y5e90 w1e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dd ws1f7\">89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1065 y5e90 w700 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">94</div></td><td class=\"c n x1066 y5e90 w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e91 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in profit or lo<span class=\"_ _0\"></span>ss:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e92 w6be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1067 y5e92 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1068 y5e92 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1069 y5e92 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(36)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106a y5e92 w704 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5e92 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106b y5e92 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106c y5e92 w705 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106d y5e92 w705 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e93 w6c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent for the risk ex<span class=\"_ _0\"></span>pired<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106e y5e93 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106f y5e93 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1070 y5e93 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1071 y5e93 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1072 y5e93 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1073 y5e93 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1074 y5e93 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1075 y5e93 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e94 w706 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Experience adjustments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1076 y5e94 w5c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1077 y5e94 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1078 y5e94 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1079 y5e94 w5c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsc6 ws15a\">63<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107a y5e94 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107b y5e94 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107c y5e94 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5be y5e94 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e95 w2b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charges<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107d y5e95 w707 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107e y5e95 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107f y5e95 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1080 y5e95 w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1081 y5e95 w78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1082 y5e95 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeaa y5e95 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1083 y5e95 w78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e96 w6c8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to current se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1076 y5e96 w199 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1084 y5e96 w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1085 y5e96 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(36)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1086 y5e96 w708 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(17<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1087 y5e96 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1088 y5e96 w1b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1089 y5e96 w709 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x108a y5e96 w1e3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(29)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e97 w6cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x108b y5e97 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x108c y5e97 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1070 y5e97 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x108d y5e97 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x108e y5e97 w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x108f y5e97 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1090 y5e97 w9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1091 y5e97 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e98 w70a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1092 y5e98 w70b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1093 y5e98 w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1094 y5e98 w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1095 y5e98 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1096 y5e98 w4ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>103)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1097 y5e98 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe25 y5e98 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">104<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1098 y5e98 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e99 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that d<span class=\"_ _0\"></span>o not adjus<span class=\"_ _0\"></span>t </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e9a w3dd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">the<span class=\"_ gs47\"> </span>CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca6 y5e9a w707 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1099 y5e9a w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109a y5e9a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109b y5e9a w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109c y5e9a w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109d y5e9a wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdf y5e9a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109e y5e9a wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e9b w70c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109f y5e9b w70b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a0 y5e9b w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a1 y5e9b w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a2 y5e9b w70d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6<span class=\"_ _0\"></span>)</div></td><td class=\"c n x10a3 y5e9b w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(180<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a4 y5e9b w9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a5 y5e9b w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">138<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a6 y5e9b wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5e9c ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s to liabilities for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e9d w6d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">(past service)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a7 y5e9d w70e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a8 y5e9d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a9 y5e9d w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10aa y5e9d w16f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ab y5e9d w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ac y5e9d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ad y5e9d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70b y5e9d w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e9e w6db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ae y5e9e w70f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(112)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10af y5e9e w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b0 y5e9e w2aa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b1 y5e9e w55a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(45)</div></td><td class=\"c n x10b2 y5e9e w2e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(162)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b3 y5e9e wc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b4 y5e9e wbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">113<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b5 y5e9e w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(23)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e9f w710 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">Insura<span class=\"_ _2\"></span>nce finance e<span class=\"_ _2\"></span>xpense/<span class=\"_ _2\"></span>(income<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b6 y5e9f w172 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b7 y5e9f w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b8 y5e9f w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)</div></td><td class=\"c n x10b9 y5e9f w5bf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2</div></td><td class=\"c n x10ba y5e9f w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,5<span class=\"_ _2\"></span>93<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10bb y5e9f w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10bc y5e9f w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)</div></td><td class=\"c n x10bd y5e9f w10f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,590<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5ea0 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal chang<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> in consolidated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ea1 w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10be y5ea1 w711 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,61<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10bf y5ea1 w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c0 y5ea1 w712 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e4 ws200\">71</div></td><td class=\"c n x10c1 y5ea1 w5fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,677</div></td><td class=\"c n x10c2 y5ea1 w713 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c3 y5ea1 wf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c4 y5ea1 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">109</div></td><td class=\"c n x10c5 y5ea1 w714 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,567<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ea2 ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ea3 w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c6 y5ea3 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c7 y5ea3 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c8 y5ea3 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c9 y5ea3 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ca y5ea3 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">389<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10cb y5ea3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10cc y5ea3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x27a y5ea3 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">389<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ea4 w715 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x10cd h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1006 y5ea5 w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">(2,999<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ce y5ea5 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10cf y5ea5 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x10d0 y5ea5 w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">(2<span class=\"_ _2\"></span>,999)</div></td><td class=\"c n x10d1 y5ea5 w6f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(2,<span class=\"_ _0\"></span>365)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10d2 y5ea5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10d3 y5ea5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x10d4 y5ea5 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(2,<span class=\"_ _0\"></span>365)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ea6 w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10d5 y5ea6 w716 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,622<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10d6 y5ea6 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10d7 y5ea6 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x10d8 y5ea6 w717 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,622)</div></td><td class=\"c n x10d9 y5ea6 w718 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>976<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10da y5ea6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10db y5ea6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x10dc y5ea6 w718 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,976<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5ea7 w719 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x101b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5ea7 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10de y5ea7 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10df y5ea7 w71a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e0 y5ea7 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3</div></td><td class=\"c n x10e1 y5ea7 w71b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">2<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e2 y5ea7 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e3 y5ea7 w518 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)</div></td><td class=\"c n x10e4 y5ea7 w5b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,37<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ea8 w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x103d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5ea9 w71c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,16<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e5 y5ea9 wc6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e6 y5ea9 wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">269</div></td><td class=\"c n x10e7 y5ea9 w2e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>507</div></td><td class=\"c n x10e8 y5ea9 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e9 y5ea9 w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ea y5ea9 we0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">201</div></td><td class=\"c n x10eb y5ea9 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,<span class=\"_ _0\"></span>449<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5eaa w71e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div></td><td class=\"c n x10ec y5eaa w71c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,16<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ed y5eaa wc6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ee y5eaa wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">269</div></td><td class=\"c n x10ef y5eaa w2e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>507</div></td><td class=\"c n x10f0 y5eaa w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10f1 y5eaa w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10f2 y5eaa we0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">201</div></td><td class=\"c n x10f3 y5eaa w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,<span class=\"_ _0\"></span>449<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5eab w6fa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1035 y5eab w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1036 y5eab w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1037 y5eab w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1038 y5eab w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1039 y5eab wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103a y5eab wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103b y5eab wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103c y5eab wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5eac w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5ead w71c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,16<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e5 y5ead wc6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">78<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e6 y5ead wea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">269</div></td><td class=\"c n x10e7 y5ead w2e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>507</div></td><td class=\"c n x10e8 y5ead w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,16<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10e9 y5ead w98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ea y5ead we0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">201</div></td><td class=\"c n x10eb y5ead w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,<span class=\"_ _0\"></span>449<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 h79 ff3 fs9 fc3 sc0 ls1 ws1 gs6ec\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6ed\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e notes F<span class=\"_ _0\"></span>1 and A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6ee\">2 <span class=\"_ _1a\"> </span>\u00a3<span class=\"_ _0\"></span>2,411 m<span class=\"_ _0\"></span>illion i<span class=\"_ _0\"></span>nclud<span class=\"_ _0\"></span>ed in \u2018<span class=\"_ _0\"></span>Est<span class=\"_ _0\"></span>imate<span class=\"_ _0\"></span>s of the pre<span class=\"_ _0\"></span>sent v<span class=\"_ _0\"></span>alue of fu<span class=\"_ _0\"></span>ture c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s\u2019 in 202<span class=\"_ _0\"></span>3 relate<span class=\"_ _0\"></span>s to the fa<span class=\"_ _0\"></span>ir valu<span class=\"_ _0\"></span>e of insur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontr<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s acqui<span class=\"_ _0\"></span>red as p<span class=\"_ _0\"></span>art of t<span class=\"_ _0\"></span>he acq<span class=\"_ _0\"></span>uisit<span class=\"_ _0\"></span>ion of Pho<span class=\"_ _0\"></span>enix Li<span class=\"_ _0\"></span>fe CA Hol<span class=\"_ _0\"></span>dings L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6ef\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d) (see n<span class=\"_ _0\"></span>ote H2).<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w6ae h260\" id=\"_e7ebad1b-3899-4a68-8b3c-27b9452cd1d4\"><tr><td></td><td></td><td></td><td></td><td class=\"c n xbfa y5eae w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c n xf68 y5eae w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xbff ha y5eaf ff2 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timat<span class=\"_ _0\"></span>es of </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5eb0 ff3 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>tes of </td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xa13 ha y5eb0 ff2 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt </td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5eb1 ff3 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>res<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xf69 ha y5eb1 ff2 fs5 fc3 sc0 ls11 ws11\">value of<span class=\"_ _3bd\"> </span></td><td></td><td></td><td class=\"t m0 xe3c ha y5eb2 ff2 fs5 fc3 sc0 ls11 ws11\">Contractual </td><td></td></tr><tr><td></td><td class=\"t m0 xf6a h29 y5eb3 ff3 fs5 fc3 sc0 ls1 ws1\">val<span class=\"_ _0\"></span>ue of </td><td></td><td></td><td class=\"t m0 x6bc h29 y5eb3 ff3 fs5 fc3 sc0 lsbe wsbe\">Contractual </td><td></td><td></td><td class=\"t m0 xa13 ha y5eb3 ff2 fs5 fc3 sc0 ls1 ws1\"> fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh </td><td></td><td></td><td class=\"t m0 x2ee ha y5eb4 ff2 fs5 fc3 sc0 ls10c ws10d\">service<span class=\"ls1 ws1\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xf6b h29 y5eb5 ff3 fs5 fc3 sc0 ls1 ws1\">fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh </td><td></td><td class=\"t m0 xf6c h29 y5eb5 ff3 fs5 fc3 sc0 lsa6 wsa1\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5eb5 ff3 fs5 fc3 sc0 ls1 ws1\">se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e </td><td></td><td></td><td class=\"t m0 xd07 ha y5eb5 ff2 fs5 fc3 sc0 ls26 wsc6\">flows<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 xf6d ha y5eb6 ff2 fs5 fc3 sc0 ls22 ws24\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ee ha y5eb6 ff2 fs5 fc3 sc0 ls21 ws23\">margin<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5eb6 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5eb7 ff3 fs5 fc3 sc0 ls105 ws107\">flows<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 xf6e h29 y5eb7 ff3 fs5 fc3 sc0 ls9e ws9a\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5eb7 ff3 fs5 fc3 sc0 ls65 wsc0\">margin<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5eb7 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x103f y5eb8 w6fc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x103e h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"t m0 x9e2 ha y5eb9 ff2 fs5 fc3 sc0 ls4d wsbf\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"c xf72 y5eb8 w6b0 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf71 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"c x289 y5eb8 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h29 y5eba ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5eba ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x3b9 h29 y5eba ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5eba ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5eba ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x491 ha y5ebb ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x9e8 ha y5ebb ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5ebb ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5ebb ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y5ebc ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ebd w165 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">as<span class=\"_ gs47\"> </span>rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10f4 y5ebd w71f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>,880<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x10f5 y5ebd w6e1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">104<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10f6 y5ebd w6d6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>97</div></td><td class=\"c n xc1e y5ebd w655 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>581<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x10f7 y5ebd w720 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28,<span class=\"_ _0\"></span>282<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x10f8 y5ebd w117 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">158<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10f9 y5ebd w14e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">565</div></td><td class=\"c n x10fa y5ebd we6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">29,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5ebe w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1006 y5ebe w721 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(2,18<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x10fb y5ebe w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10fc y5ebe w1e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)</div></td><td class=\"c n x10fd y5ebe w3f9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(2,188)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x10fe y5ebe w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x10ff y5ebe wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1100 y5ebe w38c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1101 y5ebe w212 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>71<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5ebf ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ec0 w6b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(re<span class=\"_ _0\"></span>st<span class=\"_ _0\"></span>ate<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1102 y5ec0 w722 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">2<span class=\"_ _0\"></span>7,7<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1103 y5ec0 w723 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1104 y5ec0 wb8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1105 y5ec0 w724 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">589</div></td><td class=\"c n x1106 y5ec0 w725 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1107 y5ec0 w726 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">28<span class=\"_ _0\"></span>,21<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xbda y5ec0 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">158<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1108 y5ec0 w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">558</div></td><td class=\"c n x1109 y5ec0 w44a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">28,934<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ec1 w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xf86 y5ec1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf87 y5ec1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf88 y5ec1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf89 y5ec1 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xf8a y5ec1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xf8b y5ec1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8c y5ec1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8d y5ec1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5ec2 w6bc h25b\"><div class=\"t m0 x1cf h23 y5a7e ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x110a y5ec2 w727 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">2<span class=\"_ _0\"></span>7,7<span class=\"_ _0\"></span>0</div></td><td class=\"c n x110b y5ec2 w728 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x110c y5ec2 wb8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x110d y5ec2 w724 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">589</div></td><td class=\"c n x110e y5ec2 w729 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>393<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x110f y5ec2 w72a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">28<span class=\"_ _0\"></span>,21<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1110 y5ec2 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">158<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1111 y5ec2 w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">558</div></td><td class=\"c n x1112 y5ec2 w44a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">28,934<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5ec3 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in profit or lo<span class=\"_ _0\"></span>ss:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ec4 w6be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf96 y5ec4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xf97 y5ec4 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1113 y5ec4 w34f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>74)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1114 y5ec4 w72b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1115 y5ec4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1116 y5ec4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1117 y5ec4 w72c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">(77<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdde y5ec4 w314 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">(<span class=\"_ _0\"></span>77)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ec5 w6c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent for the risk ex<span class=\"_ _0\"></span>pired<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf9e y5ec5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1118 y5ec5 w72d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe41 y5ec5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1119 y5ec5 w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xb3e y5ec5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x111a y5ec5 w636 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x111b y5ec5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x111c y5ec5 w72e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ec6 w706 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Experience adjustments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x111d y5ec6 w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x111e y5ec6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x111f y5ec6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1120 y5ec6 wb2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1121 y5ec6 w167 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1122 y5ec6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1123 y5ec6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc0d y5ec6 w167 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ec7 w2b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charges<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1124 y5ec7 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(36)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1125 y5ec7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1126 y5ec7 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1127 y5ec7 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(36)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1011 y5ec7 w72f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1128 y5ec7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1129 y5ec7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x112a y5ec7 w730 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(17<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ec8 w6c8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to current se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x112b y5ec8 w731 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x112c y5ec8 w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x112d y5ec8 w732 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)</div></td><td class=\"c n x112e y5ec8 w66 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x112f y5ec8 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1130 y5ec8 w636 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1131 y5ec8 w314 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">(77<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1132 y5ec8 w733 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">(<span class=\"_ _0\"></span>75<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ec9 w70a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1133 y5ec9 w31e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(98)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1134 y5ec9 w70e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1135 y5ec9 wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1136 y5ec9 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1137 y5ec9 w1aa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(99)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1138 y5ec9 w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1139 y5ec9 w12c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">119<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x113a y5ec9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5eca ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that d<span class=\"_ _0\"></span>o not adjus<span class=\"_ _0\"></span>t </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ecb w3dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">the<span class=\"_ gs47\"> </span>CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfcc y5ecb wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(36)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x113b y5ecb w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x113c y5ecb w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x113d y5ecb w3b6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(33)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x113e y5ecb w1f3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x113f y5ecb w1ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1140 y5ecb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1141 y5ecb wb9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>64)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ecc w70c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1142 y5ecc w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1143 y5ecc w734 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1144 y5ecc w59b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1145 y5ecc w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(33)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1146 y5ecc w735 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>151<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1147 y5ecc w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1148 y5ecc w12c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">119<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1149 y5ecc w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5ecd ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s to liabilities for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ece w6d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">(past service)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x114a y5ece wbb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(38)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x114b y5ece w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x114c y5ece w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x114d y5ece wbb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(38)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x114e y5ece w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>33)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x114f y5ece wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1150 y5ece wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1149 y5ece w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ecf w4b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> service resul<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1151 y5ecf w737 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(1<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1152 y5ecf w190 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1153 y5ecf w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1154 y5ecf w80 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>176<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1155 y5ecf w738 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>178<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1156 y5ecf w1af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1157 y5ecf w4ef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e5 y5ecf w2e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(172)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ed0 w710 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">Insura<span class=\"_ _2\"></span>nce finance e<span class=\"_ _2\"></span>xpense/<span class=\"_ _2\"></span>(income<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1158 y5ed0 w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,113<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x31e y5ed0 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1159 y5ed0 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">9</div></td><td class=\"c n x115a y5ed0 w143 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,122<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x115b y5ed0 wd0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>891<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x115c y5ed0 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x115d y5ed0 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10</div></td><td class=\"c n x115e y5ed0 wd0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>914<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5ed1 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal chang<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> in consolidated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ed2 w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x115f y5ed2 w594 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">916<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1160 y5ed2 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1161 y5ed2 w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a2 y5ed2 w739 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">946<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1162 y5ed2 w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>,71<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1163 y5ed2 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(23)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd90 y5ed2 w267 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52</div></td><td class=\"c n x1164 y5ed2 w73a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">1<span class=\"_ _1\"></span>,742<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5ed3 ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5ed4 w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1165 y5ed4 w501 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">101<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1166 y5ed4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1167 y5ed4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1168 y5ed4 w55d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">101<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1169 y5ed4 wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x116a y5ed4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x116b y5ed4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x116c y5ed4 w18b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5ed5 w73b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x116d h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1006 y5ed6 w73c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(2,<span class=\"_ _0\"></span>567<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x116e y5ed6 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x116f y5ed6 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1170 y5ed6 w73d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(2<span class=\"_ _0\"></span>,567<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1171 y5ed6 w54c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(2<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1172 y5ed6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1173 y5ed6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1174 y5ed6 w73e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>811<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ed7 w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1175 y5ed7 w73f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,46<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1176 y5ed7 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1177 y5ed7 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1178 y5ed7 w358 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,466)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1179 y5ed7 w740 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">(2,69<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x117a y5ed7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x117b y5ed7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x117c y5ed7 w740 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">(2,69<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ed8 w741 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x117d h11 y5b56 ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5ed8 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x10de y5ed8 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x117e y5ed8 w19f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x117f y5ed8 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1180 y5ed8 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">459<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1181 y5ed8 w742 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(31<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1182 y5ed8 w214 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1183 y5ed8 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5eda w6bc h261\"><div class=\"t m0 x1cf h23 y5ed9 ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x103d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5edb w65b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>,152<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1184 y5edb w743 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17b ws18b\">89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1185 y5edb w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">633</div></td><td class=\"c n x1186 y5edb w422 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>874</div></td><td class=\"c n x1187 y5edb w744 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>0</div></td><td class=\"c n xa45 y5edb w745 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">0<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1188 y5edb wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1189 y5edb w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">589</div></td><td class=\"c n x118a y5edb w515 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>,39<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5edc w71e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div></td><td class=\"c n x10ec y5edc w65b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>,152<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x118b y5edc w743 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17b ws18b\">89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x118c y5edc w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">633</div></td><td class=\"c n x118d y5edc w746 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>874<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x118e y5edc w4c9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>0</div></td><td class=\"c n x118f y5edc w745 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1190 y5edc wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1191 y5edc w3c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">589</div></td><td class=\"c n x1192 y5edc w515 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28,<span class=\"_ _0\"></span>39<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5edd w6fa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1035 y5edd w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1036 y5edd w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1037 y5edd w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1038 y5edd w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1039 y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103a y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103b y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103c y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5eac w6bc h261\"><div class=\"t m0 x1cf h23 y5ed9 ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x103d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5ede w65b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>,152<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1184 y5ede w743 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17b ws18b\">89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1185 y5ede w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">633</div></td><td class=\"c n x1186 y5ede w422 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>874<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1187 y5ede w744 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>0</div></td><td class=\"c n xa45 y5ede w745 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1188 y5ede wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1189 y5ede w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">589</div></td><td class=\"c n x118a y5ede w515 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>,39<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6f1\">1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>tes F1 an<span class=\"_ _0\"></span>d A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6f2\">2 <span class=\"_ _1a\"> </span>\u00a3<span class=\"_ _0\"></span>349 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ed in \u2018<span class=\"_ _0\"></span>Esti<span class=\"_ _0\"></span>mates o<span class=\"_ _0\"></span>f the pre<span class=\"_ _0\"></span>sent va<span class=\"_ _0\"></span>lue of fu<span class=\"_ _0\"></span>ture c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s\u2019 in 2023 r<span class=\"_ _0\"></span>elate<span class=\"_ _0\"></span>s to the fa<span class=\"_ _0\"></span>ir valu<span class=\"_ _0\"></span>e of insur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontra<span class=\"_ _0\"></span>cts a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>red as p<span class=\"_ _0\"></span>art of th<span class=\"_ _0\"></span>e acq<span class=\"_ _0\"></span>uisiti<span class=\"_ _0\"></span>on of Pho<span class=\"_ _0\"></span>enix Li<span class=\"_ _0\"></span>fe CA Hold<span class=\"_ _0\"></span>ings L<span class=\"_ _0\"></span>imited </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6f3\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d) (see n<span class=\"_ _0\"></span>ote H2).<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w6ae h262\" id=\"_58c25b5f-31eb-46c5-a865-eafda7caf799\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5edf w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5edf w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"c n x1193 y5ee0 w747 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timat<span class=\"_ _0\"></span>es of<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n x1194 y5ee1 w748 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>tes of<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n x1195 y5ee2 w749 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n x1196 y5ee3 w74a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>res<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n x1197 y5ee4 w74b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">value of<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n x1198 y5ee5 w461 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">val<span class=\"_ _0\"></span>ue of<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1199 y5ee5 w74c h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Contractual<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x119a y5ee6 w74d h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x765 y5ee6 w74e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">Contractual<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x119b y5ee7 w74f h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x119c y5ee7 w750 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa6 wsa1\">Risk</div></td><td class=\"c n x119d y5ee7 w6cd h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x119e y5ee8 w751 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls26 wsc6\">flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x119f y5ee8 wb2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">Risk<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a0 y5ee8 w752 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">service<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a1 y5ee8 w753 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xe51 y5ee9 w4e5 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls105 ws107\">flows</div></td><td class=\"c n x915 y5ee9 w754 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">adjustment</div></td><td class=\"c n x119d y5ee9 w755 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls65 wsc0\">margin<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a2 y5ee9 w756 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al</div></td><td class=\"c xf70 y5eea w6af h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf6f h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"c n x11a3 y5eea w757 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">adjustment<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a0 y5eea w758 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">margin</div></td><td class=\"c x289 y5eea w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5eec w759 h263\"><div class=\"t m0 x1cf h29 y5eeb ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbec y5eed w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a4 y5eed w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a5 y5eed w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a6 y5eed w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a7 y5eee w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a8 y5eee w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a9 y5eee w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11aa y5eee w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5eef w165 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">as<span class=\"_ gs47\"> </span>rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf73 y5eef w75c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,<span class=\"_ _0\"></span>829<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ab y5eef w2c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">2<span class=\"_ _0\"></span>17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ac y5eef w191 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>4</div></td><td class=\"c n x11ad y5eef w54 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>29<span class=\"_ _0\"></span>0</div></td><td class=\"c n x11ae y5eef w75d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">22,201<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11af y5eef wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">169<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b0 y5eef w4da h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>9</div></td><td class=\"c n x11b1 y5eef w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5ef0 w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe48 y5ef0 w2fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">366<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b2 y5ef0 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b3 y5ef0 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b4 y5ef0 w268 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">366<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b5 y5ef0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b6 y5ef0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b7 y5ef0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b8 y5ef0 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ef1 w759 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11b9 y5ef1 w54 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>,19<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ba y5ef1 w2c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">2<span class=\"_ _0\"></span>17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11bb y5ef1 wca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>4</div></td><td class=\"c n x11bc y5ef1 w75e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>656</div></td><td class=\"c n x11bd y5ef1 w75d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">22,201<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf93 y5ef1 w12b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11be y5ef1 w4da h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>9</div></td><td class=\"c n x11bf y5ef1 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>2,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ef2 w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1057 y5ef2 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1058 y5ef2 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1059 y5ef2 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105a y5ef2 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c0 y5ef2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c1 y5ef2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c2 y5ef2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c3 y5ef2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ef3 w6bc h25f\"><div class=\"t m0 x1cf h23 y5a82 ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105f y5ef3 w65b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,1<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c4 y5ef3 w5ac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">217<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c5 y5ef3 wca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>4</div></td><td class=\"c n x11c6 y5ef3 w75e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>656</div></td><td class=\"c n x11c7 y5ef3 w75d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">22,201<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c8 y5ef3 w12b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c9 y5ef3 w4da h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>9</div></td><td class=\"c n x11ca y5ef3 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ef4 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in profit or lo<span class=\"_ _0\"></span>ss:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ef5 w6be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1067 y5ef5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1068 y5ef5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11cb y5ef5 w508 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11cc y5ef5 wd2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11cd y5ef5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ce y5ef5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11cf y5ef5 w75f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">(47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d0 y5ef5 w4e4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ef6 w6c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent for the risk ex<span class=\"_ _0\"></span>pired<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106e y5ef6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106f y5ef6 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1070 y5ef6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1071 y5ef6 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1072 y5ef6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d1 y5ef6 w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d2 y5ef6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d3 y5ef6 w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ef7 w706 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Experience adjustments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d4 y5ef7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d5 y5ef7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d6 y5ef7 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d7 y5ef7 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d8 y5ef7 w390 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d9 y5ef7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11da y5ef7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11db y5ef7 w52e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ef8 w2b4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Policyholder tax charges<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfad y5ef8 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfae y5ef8 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfaf y5ef8 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb0 y5ef8 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb1 y5ef8 w20d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb2 y5ef8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb3 y5ef8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb4 y5ef8 w20d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ef9 w6c8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to current se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11dc y5ef9 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11dd y5ef9 w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11de y5ef9 w508 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11df y5ef9 w760 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">(<span class=\"_ _0\"></span>71)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e0 y5ef9 w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e1 y5ef9 w1ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e2 y5ef9 w4e4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">(47<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e3 y5ef9 w761 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">(42<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5efa w6cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e4 y5efa w20b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>51)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e5 y5efa w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e6 y5efa w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e7 y5efa we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e8 y5efa w392 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>57)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109d y5efa wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e9 y5efa w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">53<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ea y5efa w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5efb w70a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11eb y5efb w70e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ec y5efb w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ed y5efb w98 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls37 wsc8\">80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ee y5efb we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ef y5efb wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f0 y5efb wf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f1 y5efb w5b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(14<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f2 y5efb wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5efc w762 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that d<span class=\"_ _0\"></span>o not adjus<span class=\"_ _0\"></span>t the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f3 y5efc w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f4 y5efc w763 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f5 y5efc w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f6 y5efc w135 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f7 y5efc wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f8 y5efc w764 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeaa y5efc wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5efc wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">35<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5efd w70c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal ch<span class=\"_ _0\"></span>ange rela<span class=\"_ _0\"></span>ting to future se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109f y5efd w765 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6d ws202\">(130)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f9 y5efd wc7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11fa y5efd w4c2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">1<span class=\"_ _0\"></span>25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11fb y5efd w1f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11fc y5efd w1f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11fd y5efd w154 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls77 ws34\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11fe y5efd w766 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(90<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ff y5efd wc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5efe ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s to liabilities for in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5eff w6d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">(past service)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1200 y5eff w767 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1201 y5eff w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109a y5eff w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109b y5eff w1e5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)</div></td><td class=\"c n x1202 y5eff w631 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>10<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1203 y5eff wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1204 y5eff wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1205 y5eff w28b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>04)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f00 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>irment of ass<span class=\"_ _0\"></span>ets for insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f01 w6da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">cash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe1 y5f01 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe2 y5f01 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe3 y5f01 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe4 y5f01 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1206 y5f01 w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1207 y5f01 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1208 y5f01 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c4 y5f01 w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f02 w6db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ae y5f02 w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(138)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1209 y5f02 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x120a y5f02 w768 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x120b y5f02 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(61<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x120c y5f02 w214 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x120d y5f02 w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x120e y5f02 w769 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>137<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1205 y5f02 w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(110<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f03 w710 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">Insura<span class=\"_ _2\"></span>nce finance e<span class=\"_ _2\"></span>xpense/<span class=\"_ _2\"></span>(income<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x120f y5f03 w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,336<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1210 y5f03 w76a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1211 y5f03 w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20</div></td><td class=\"c n x1212 y5f03 w76b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">1<span class=\"_ _0\"></span>,348</div></td><td class=\"c n x1213 y5f03 w76c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,55<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1214 y5f03 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1215 y5f03 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(20)</div></td><td class=\"c n x1216 y5f03 w76d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>517<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5f04 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal chang<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> in consolidated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f05 w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10be y5f05 w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1,1<span class=\"_ _0\"></span>98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107e y5f05 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1217 y5f05 w743 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17b ws18b\">89</div></td><td class=\"c n x1218 y5f05 w60d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>287</div></td><td class=\"c n x1219 y5f05 w107 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>529<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x121a y5f05 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x121b y5f05 w76e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(157<span class=\"_ _0\"></span>)</div></td><td class=\"c n x121c y5f05 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1,<span class=\"_ _0\"></span>407<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f06 ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f07 w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x121d y5f07 w690 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x121e y5f07 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f5 y5f07 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x121f y5f07 w5bf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1220 y5f07 w4ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1221 y5f07 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d2 y5f07 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1222 y5f07 w4ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f08 w715 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x10cd h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1006 y5f09 w76f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>249<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1223 y5f09 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1224 y5f09 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1225 y5f09 w770 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>249<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1226 y5f09 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1227 y5f09 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1228 y5f09 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1229 y5f09 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f0a w6eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122a y5f0a w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122b y5f0a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122c y5f0a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122d y5f0a w1f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(106<span class=\"_ _0\"></span>)</div></td><td class=\"c n x122e y5f0a w771 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(116<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122f y5f0a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1230 y5f0a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1231 y5f0a w76e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(116<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f0b w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1232 y5f0b w772 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">(635)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1201 y5f0b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x109a y5f0b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1233 y5f0b w773 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">(63<span class=\"_ _2\"></span>5)</div></td><td class=\"c n x1234 y5f0b w774 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(336<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1235 y5f0b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1236 y5f0b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1237 y5f0b w775 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(336<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f0c w776 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x117d h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2d y5f0c w777 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(650<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1238 y5f0c w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1239 y5f0c w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)</div></td><td class=\"c n x123a y5f0c w778 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(65<span class=\"_ _0\"></span>8)</div></td><td class=\"c n x123b y5f0c w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(19<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x123c y5f0c w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x123d y5f0c w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)</div></td><td class=\"c n x123e y5f0c w28b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(2<span class=\"_ _0\"></span>04)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f0d w6bc h261\"><div class=\"t m0 x1cf h23 y5ed9 ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x30f h11 y5cae ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5e78 w65b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,1<span class=\"_ _0\"></span>08<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x123f y5e78 w277 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1240 y5e78 w2e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">329</div></td><td class=\"c n x1241 y5e78 w779 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,6<span class=\"_ _0\"></span>50</div></td><td class=\"c n x1242 y5e78 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,1<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1243 y5e78 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">217<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1244 y5e78 w530 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>4</div></td><td class=\"c n x1245 y5e78 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,<span class=\"_ _0\"></span>656<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e79 w71e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div></td><td class=\"c n x10ec y5e79 w721 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>108<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1246 y5e79 w628 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1247 y5e79 w2e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">329</div></td><td class=\"c n x1248 y5e79 w54 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>65<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1249 y5e79 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _0\"></span>,195<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x124a y5e79 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">217<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x124b y5e79 w530 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>4</div></td><td class=\"c n x124c y5e79 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,6<span class=\"_ _0\"></span>56<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d2b w6fa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1035 y5d2b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1036 y5d2b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1037 y5d2b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1038 y5d2b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1039 y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103a y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103b y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103c y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f0e w6bc h261\"><div class=\"t m0 x1cf h23 y5ed9 ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5b4c w65b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,1<span class=\"_ _0\"></span>08<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x123f y5b4c w277 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1240 y5b4c w2e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">329</div></td><td class=\"c n x1241 y5b4c w779 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,6<span class=\"_ _0\"></span>50</div></td><td class=\"c n x1242 y5b4c w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,1<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1243 y5b4c w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">217<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1244 y5b4c w530 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>4</div></td><td class=\"c n x1245 y5b4c w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,<span class=\"_ _0\"></span>656<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 h79 ff3 fs9 fc3 sc0 ls1 ws1 gs6f5\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6f6\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e notes F<span class=\"_ _0\"></span>1 and A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6f7\">2 <span class=\"_ _1a\"> </span>\u00a3<span class=\"_ _0\"></span>112 mill<span class=\"_ _0\"></span>ion inc<span class=\"_ _0\"></span>lude<span class=\"_ _0\"></span>d in \u2018E<span class=\"_ _0\"></span>stim<span class=\"_ _0\"></span>ates of th<span class=\"_ _0\"></span>e pres<span class=\"_ _0\"></span>ent val<span class=\"_ _0\"></span>ue of fut<span class=\"_ _0\"></span>ure cas<span class=\"_ _0\"></span>h flows\u2019 in 2<span class=\"_ _0\"></span>023 rel<span class=\"_ _0\"></span>ates to t<span class=\"_ _0\"></span>he fair v<span class=\"_ _0\"></span>alue of in<span class=\"_ _0\"></span>suran<span class=\"_ _0\"></span>ce co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>ts ac<span class=\"_ _0\"></span>quire<span class=\"_ _0\"></span>d as par<span class=\"_ _0\"></span>t of the a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>sition o<span class=\"_ _0\"></span>f Phoe<span class=\"_ _0\"></span>nix Life CA H<span class=\"_ _0\"></span>oldin<span class=\"_ _0\"></span>gs Limi<span class=\"_ _0\"></span>ted </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6f8\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d) (see n<span class=\"_ _0\"></span>ote H2).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h27 ff3 fse fc3 sc0 ls6b ws169 gs6fa\">F3. M<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>em<span class=\"_ _0\"></span>ents in liabilities for re<span class=\"_ _0\"></span>maining covera<span class=\"_ _0\"></span>ge and liabilities<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>or in<span class=\"_ _0\"></span>curred claim<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span> insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6fb\">The follow<span class=\"_ _0\"></span>ing recon<span class=\"_ _0\"></span>ciliations sh<span class=\"_ _0\"></span>ow how the net c<span class=\"_ _0\"></span>arr<span class=\"_ _0\"></span>ying amount<span class=\"_ _0\"></span>s of insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts iss<span class=\"_ _0\"></span>ued cha<span class=\"_ _0\"></span>nged over th<span class=\"_ _0\"></span>e year as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs6fc\">amo<span class=\"_ _0\"></span>unts reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment and oth<span class=\"_ _0\"></span>er movement<span class=\"_ _0\"></span>s, an<span class=\"_ _0\"></span>alysed by re<span class=\"_ _0\"></span>maining cover<span class=\"_ _0\"></span>age and in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims. </div><div class=\"gs6fd\"><table class=\"s w77a h264\" id=\"_b07ebbaa-ffbb-4da5-b646-68841bd860bd\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5f0f w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5f0f w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124d h29 y5f10 ff3 fs5 fc3 sc0 ls65 wsc0\">Liabilities for remaining </td><td></td><td></td><td></td><td class=\"t m0 x124e ha y5f10 ff2 fs5 fc3 sc0 ls21 ws23\">Liabilities for rem<span class=\"_ _0\"></span>aining <span class=\"ls1 ws1\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124f h29 y5f11 ff3 fs5 fc3 sc0 lsc4 wsc7\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x1250 ha y5f11 ff2 fs5 fc3 sc0 ls14a ws138\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x48e ha y5f12 ff2 fs5 fc3 sc0 ls1 ws1\">Lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es for </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x1251 h29 y5f13 ff3 fs5 fc3 sc0 ls8d ws86\">Liabilities<span class=\"_ _2\"></span> for </td><td></td><td class=\"t m0 x606 ha y5f13 ff2 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">Ex<span class=\"_ _0\"></span>cludi<span class=\"_ _0\"></span>ng los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x497 ha y5f14 ff2 fs5 fc3 sc0 ls21 ws23\">incurre<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 x3b7 h29 y5f15 ff3 fs5 fc3 sc0 ls1 ws1\">Ex<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing lo<span class=\"_ _0\"></span>ss </td><td class=\"t m0 x1252 h29 y5f15 ff3 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x48c h29 y5f15 ff3 fs5 fc3 sc0 ls65 wsc0\">incurred </td><td></td><td class=\"t m0 xa13 ha y5f15 ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f7 ha y5f16 ff2 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x3b1 ha y5f16 ff2 fs5 fc3 sc0 ls11 ws11\">claims<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5f17 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa10 h29 y5f17 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1253 h29 y5f17 ff3 fs5 fc3 sc0 ls8d ws86\">claims<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5f17 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"c x103f y5f18 w6fc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x103e h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x913 ha y5f19 ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"c xf72 y5f18 w6b0 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf71 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x607 ha y5f19 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y5f1a ff3 fs5 fc3 sc0 ls22 ws24\">Retirement So<span class=\"_ _0\"></span>lutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5f1a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5f1a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5f1a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5f1a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5f1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5f1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5f1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5f1b ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5f1c ff3 fs6 fc3 sc0 ls5f ws122\">Insurance contract liabilities<span class=\"_ _2\"></span> as at 1 January </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f1d w77b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls12 ws13\">as reported<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1254 y5f1d w77c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">40,050<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1255 y5f1d w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1256 y5f1d w77d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>60)</div></td><td class=\"c n x1257 y5f1d w77e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">39,54<span class=\"_ _0\"></span>4</div></td><td class=\"c n x1258 y5f1d w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">34,189<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1259 y5f1d w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x125a y5f1d w2d7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36</div></td><td class=\"c n x125b y5f1d w77f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">3<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f1e w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe6a y5f1e w780 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">76<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x125c y5f1e w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x125d y5f1e w781 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls12b ws3c\">609<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x125e y5f1e w645 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">6<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x125f y5f1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1260 y5f1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1261 y5f1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1262 y5f1e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f1f ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f20 w6b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(re<span class=\"_ _0\"></span>st<span class=\"_ _0\"></span>ate<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1263 y5f20 w782 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">4<span class=\"_ _0\"></span>0,12<span class=\"_ _2\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1264 y5f20 w6d2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1265 y5f20 w783 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49</div></td><td class=\"c n x1266 y5f20 w784 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">4<span class=\"_ _0\"></span>0,229</div></td><td class=\"c n x1267 y5f20 w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">34,189<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1268 y5f20 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1269 y5f20 w2d7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36</div></td><td class=\"c n x126a y5f20 w77f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">3<span class=\"_ _0\"></span>4,<span class=\"_ _0\"></span>281<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5f21 w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf86 y5f21 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf87 y5f21 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf88 y5f21 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf89 y5f21 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8a y5f21 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8b y5f21 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8c y5f21 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8d y5f21 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f22 w6bc h25b\"><div class=\"t m0 x1cf h23 y5a7e ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x126b y5f22 w77c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">40,126<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x126c y5f22 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x126d y5f22 w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49</div></td><td class=\"c n x126e y5f22 w6bd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">4<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>229</div></td><td class=\"c n x126f y5f22 w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">34,189<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1064 y5f22 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1270 y5f22 w785 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36</div></td><td class=\"c n x1271 y5f22 w786 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">34<span class=\"_ _0\"></span>,281<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5f23 w787 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance reven<span class=\"_ _0\"></span>ue (<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>ote C1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1272 y5f23 w5e6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1273 y5f23 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1274 y5f23 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1275 y5f23 w788 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(3,<span class=\"_ _0\"></span>918<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1276 y5f23 w407 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1277 y5f23 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1278 y5f23 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1279 y5f23 w789 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3,7<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f24 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance service e<span class=\"_ _2\"></span>xpenses:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1d4 y5f25 w78a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>urred claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses</div><div class=\"t m0 x127a h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f26 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x127b y5f26 w6c5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)</div></td><td class=\"c n x127c y5f26 w78b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,56<span class=\"_ _0\"></span>9</div></td><td class=\"c n x127d y5f26 w2b0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,565<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x127e y5f26 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x127f y5f26 w636 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)</div></td><td class=\"c n x1280 y5f26 w145 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>427</div></td><td class=\"c n x1281 y5f26 w145 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>423<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f27 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of insuranc<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion cash </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f28 w78c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls77 ws34\">flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1282 y5f28 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1283 y5f28 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x113c y5f28 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1284 y5f28 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1285 y5f28 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1286 y5f28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1287 y5f28 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1288 y5f28 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f29 ff2 fs6 fc3 sc0 ls1 ws1\">Loss<span class=\"_ _0\"></span>es on onero<span class=\"_ _0\"></span>us contra<span class=\"_ _0\"></span>cts and re<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsals </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e98 w78d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">of<span class=\"_ gs47\"> </span>thos<span class=\"_ _0\"></span>e losse<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1289 y5e98 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128a y5e98 w181 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128b y5e98 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128c y5e98 w1d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde2 y5e98 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128d y5e98 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128e y5e98 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128f y5e98 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f2a ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges to liabiliti<span class=\"_ _0\"></span>es for incurre<span class=\"_ _0\"></span>d claims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e9a w78e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(pas<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>ser<span class=\"_ _0\"></span>vice)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1290 y5e9a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1291 y5e9a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1292 y5e9a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1293 y5e9a w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1294 y5e9a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1295 y5e9a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1296 y5e9a wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1297 y5e9a wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f2b ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>irment of ass<span class=\"_ _0\"></span>ets for insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f2c w6da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">cash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe1 y5f2c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe2 y5f2c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe3 y5f2c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe4 y5f2c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe5 y5f2c w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa74 y5f2c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe6 y5f2c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab9 y5f2c w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f2d w6db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1298 y5f2d w78f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>917<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1299 y5f2d waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)</div></td><td class=\"c n x129a y5f2d w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,5<span class=\"_ _0\"></span>69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x129b y5f2d w17d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>64)</div></td><td class=\"c n x129c y5f2d w407 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x129d y5f2d w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)</div></td><td class=\"c n x129e y5f2d wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>533<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x129f y5f2d w6df h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>221<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ecf w790 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">Insura<span class=\"_ _2\"></span>nce finance (<span class=\"_ _2\"></span>income)<span class=\"_ _2\"></span>/<span class=\"_ _4\"></span>expense</div><div class=\"t m0 x12a0 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2d y5f2e w253 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(5<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12a1 y5f2e w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12a2 y5f2e w763 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12a3 y5f2e w6e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(536)</div></td><td class=\"c n x12a4 y5f2e wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">2,<span class=\"_ _0\"></span>036<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12a5 y5f2e wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12a6 y5f2e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12a7 y5f2e w64d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y5f2f ff3 fs6 fc3 sc0 ls37 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>es in the con<span class=\"_ _0\"></span>solida<span class=\"_ _0\"></span>ted </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f30 w791 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17 ws18\">incom<span class=\"_ _0\"></span>e<span class=\"_ gs6e7\"> </span><span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>tatement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12a8 y5f30 w792 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(4,<span class=\"_ _0\"></span>469<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12a9 y5f30 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)</div></td><td class=\"c n x12aa y5f30 w78b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,<span class=\"_ _0\"></span>584</div></td><td class=\"c n x12ab y5f30 w793 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(9<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0)</div></td><td class=\"c n x12ac y5f30 w649 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12ad y5f30 w518 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)</div></td><td class=\"c n x12ae y5f30 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,5<span class=\"_ _0\"></span>33</div></td><td class=\"c n x12af y5f30 w121 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>816<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f31 w794 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ment components<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b0 y5f31 w5a2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(301<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x121e y5f31 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b1 y5f31 w795 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">3<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b2 y5f31 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b3 y5f31 w76e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>160)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b4 y5f31 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b5 y5f31 w3f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">160<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd50 y5f31 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f32 ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f33 w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b6 y5f33 w6e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">5,853<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b7 y5f33 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2d y5f33 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12b8 y5f33 w6e7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">5,853</div></td><td class=\"c n x12b9 y5f33 w145 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>421<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122f y5f33 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1230 y5f33 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12ba y5f33 w145 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>421<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f34 w715 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x10cd h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f34 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bb y5f34 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12bc y5f34 w18d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(3,6<span class=\"_ _0\"></span>57)</div></td><td class=\"c n x12bd y5f34 w796 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(3,657<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12be y5f34 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bf y5f34 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12c0 y5f34 w797 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>2)</div></td><td class=\"c n x12c1 y5f34 w408 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>52<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f35 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></td><td class=\"c n xbf3 y5f36 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>73)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c2 y5f36 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c3 y5f36 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c4 y5f36 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>73)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c5 y5f36 w1ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>38)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c6 y5f36 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c7 y5f36 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c8 y5f36 wbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(38)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ed7 w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12c9 y5ed7 w172 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">5<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfcd y5ed7 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12ca y5ed7 w73d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(3<span class=\"_ _0\"></span>,657<span class=\"_ _0\"></span>)</div></td><td class=\"c n x451 y5ed7 w525 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">2<span class=\"_ _0\"></span>,123</div></td><td class=\"c n x12cb y5ed7 wf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">6<span class=\"_ _0\"></span>,383<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12cc y5ed7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12cd y5ed7 w6ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,75<span class=\"_ _0\"></span>2)</div></td><td class=\"c n x12ce y5ed7 w6ef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">2<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5ed8 w798 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x101b h11 y5b9e ff2 fs9 fc3 sc0 ls12a ws12e\">1,2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1047 y5ed8 w60d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1283 y5ed8 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12cf y5ed8 w799 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">21</div></td><td class=\"c n x12d0 y5ed8 w63a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls69 ws18a\">1<span class=\"_ _0\"></span>,308</div></td><td class=\"c n x12d1 y5ed8 w79a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _1\"></span>,42<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d2 y5ed8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d3 y5ed8 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">72</div></td><td class=\"c n x12d4 y5ed8 w1ee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>01<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5eda w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x30f h11 y5cae ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5f37 w71d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>,42<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d5 y5f37 w178 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d6 y5f37 w2fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">298</div></td><td class=\"c n x12d7 y5f37 w79b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">42<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>0</div></td><td class=\"c n x12d8 y5f37 w2e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">4<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>126<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d9 y5f37 w79c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12da y5f37 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">49</div></td><td class=\"c n x12db y5f37 w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4<span class=\"_ _0\"></span>0,229<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5edc w71e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div></td><td class=\"c n x12dc y5edc w79d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>423<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12dd y5edc w178 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12de y5edc w2fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">298</div></td><td class=\"c n x12df y5edc w79e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">42<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>0</div></td><td class=\"c n x12e0 y5edc w2e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">4<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>126<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12e1 y5edc w79f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12e2 y5edc w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">49</div></td><td class=\"c n x10f3 y5edc w55 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">40<span class=\"_ _0\"></span>,229<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5edd w6fa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1035 y5edd w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1036 y5edd w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1037 y5edd w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1038 y5edd w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1039 y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103a y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103b y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103c y5edd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5eac w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5f38 w71d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>,42<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d5 y5f38 w178 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d6 y5f38 w2fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">298</div></td><td class=\"c n x12d7 y5f38 w79b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">42<span class=\"_ _0\"></span>,76<span class=\"_ _0\"></span>0</div></td><td class=\"c n x12d8 y5f38 w2e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">4<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>126<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12d9 y5f38 w79c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12da y5f38 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">49</div></td><td class=\"c n x12db y5f38 w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4<span class=\"_ _0\"></span>0,229<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 h79 ff3 fs9 fc3 sc0 ls1 ws1 gs6fe\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs6ff\">1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>tes F1 an<span class=\"_ _0\"></span>d A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs700\">2  <span class=\"_ _0\"></span>\u00a31,<span class=\"_ _0\"></span>514 mil<span class=\"_ _0\"></span>lion in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in \u2018E<span class=\"_ _0\"></span>stim<span class=\"_ _0\"></span>ates of th<span class=\"_ _0\"></span>e pres<span class=\"_ _0\"></span>ent val<span class=\"_ _0\"></span>ue of fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh flows\u2019 i<span class=\"_ _0\"></span>n 2023 re<span class=\"_ _0\"></span>lates t<span class=\"_ _0\"></span>o the fai<span class=\"_ _0\"></span>r value of in<span class=\"_ _0\"></span>sura<span class=\"_ _0\"></span>nce co<span class=\"_ _0\"></span>ntra<span class=\"_ _0\"></span>cts a<span class=\"_ _0\"></span>cquire<span class=\"_ _0\"></span>d as pa<span class=\"_ _0\"></span>rt of th<span class=\"_ _0\"></span>e acqui<span class=\"_ _0\"></span>sitio<span class=\"_ _0\"></span>n of Phoe<span class=\"_ _0\"></span>nix Life C<span class=\"_ _0\"></span>A Holdi<span class=\"_ _0\"></span>ngs Lim<span class=\"_ _0\"></span>ited </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs701\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d) (see n<span class=\"_ _0\"></span>ote H2). E<span class=\"_ _0\"></span>stim<span class=\"_ _0\"></span>ates of th<span class=\"_ _0\"></span>e pres<span class=\"_ _0\"></span>ent val<span class=\"_ _0\"></span>ue of fut<span class=\"_ _0\"></span>ure cas<span class=\"_ _0\"></span>h flows in 2<span class=\"_ _0\"></span>024 incl<span class=\"_ _0\"></span>udes \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>305 m<span class=\"_ _0\"></span>illion of p<span class=\"_ _0\"></span>remi<span class=\"_ _0\"></span>um in resp<span class=\"_ _0\"></span>ect of t<span class=\"_ _0\"></span>he PG<span class=\"_ _0\"></span>L Pensio<span class=\"_ _0\"></span>n Sch<span class=\"_ _0\"></span>eme bu<span class=\"_ _0\"></span>y-o<span class=\"_ _0\"></span>ut.<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w7a0 h265\" id=\"_a1e14ec5-655e-48b3-a272-9e184ada3ad1\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5f39 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5f39 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124d h29 y5f3a ff3 fs5 fc3 sc0 ls65 wsc0\">Liabilities for remaining </td><td></td><td></td><td></td><td class=\"t m0 x124e ha y5f3a ff2 fs5 fc3 sc0 ls21 ws23\">Liabilities for rem<span class=\"_ _0\"></span>aining <span class=\"ls1 ws1\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124f h29 y5f3b ff3 fs5 fc3 sc0 lsc4 wsc7\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x1250 ha y5f3b ff2 fs5 fc3 sc0 ls14a ws138\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x48e ha y5f3c ff2 fs5 fc3 sc0 ls1 ws1\">Lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es for </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x1251 h29 y5f3d ff3 fs5 fc3 sc0 ls8d ws86\">Liabilities<span class=\"_ _2\"></span> for </td><td></td><td></td><td></td><td class=\"t m0 x497 ha y5f3d ff2 fs5 fc3 sc0 ls21 ws23\">incurre<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 x3b7 h29 y5f3e ff3 fs5 fc3 sc0 ls1 ws1\">Ex<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing lo<span class=\"_ _0\"></span>ss </td><td class=\"t m0 x1252 h29 y5f3e ff3 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x48c h29 y5f3e ff3 fs5 fc3 sc0 ls65 wsc0\">incurred </td><td></td><td class=\"t m0 x606 ha y5f3e ff2 fs5 fc3 sc0 ls1 ws1\">Ex<span class=\"_ _0\"></span>cludi<span class=\"_ _0\"></span>ng los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x2f7 ha y5f3e ff2 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x3b1 ha y5f3e ff2 fs5 fc3 sc0 ls11 ws11\">claims<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5f3f ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5f40 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa10 h29 y5f40 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1253 h29 y5f40 ff3 fs5 fc3 sc0 ls8d ws86\">claims<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5f40 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa13 ha y5f40 ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 ha y5f40 ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"c xf72 y5f41 w6b0 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf71 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"c x289 y5f41 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h29 y5f42 ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5f42 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5f42 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5f42 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5f42 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5f42 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5f42 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5f43 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5f43 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y5f44 ff3 fs6 fc3 sc0 ls5f ws122\">Insurance contract liabilities<span class=\"_ _2\"></span> as at 1 January </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f45 w77b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls12 ws13\">as reported<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12e3 y5f45 w75c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,<span class=\"_ _0\"></span>892<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12e4 y5f45 w59b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">115<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12e5 y5f45 w7a1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(681<span class=\"_ _0\"></span>)</div></td><td class=\"c n x12e6 y5f45 w6fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _0\"></span>,326</div></td><td class=\"c n x12e7 y5f45 w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>35<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12e8 y5f45 w3f2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12e9 y5f45 w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">43</div></td><td class=\"c n x12ea y5f45 w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>53<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f46 w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f47 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bb y5f47 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x12eb y5f47 w525 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,123</div></td><td class=\"c n x12ec y5f47 w525 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">1<span class=\"_ _0\"></span>,123<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12ed y5f47 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12ee y5f47 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12ef y5f47 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f0 y5f47 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f48 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f49 w6b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(re<span class=\"_ _0\"></span>st<span class=\"_ _0\"></span>ate<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x104f y5f49 w71c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,8<span class=\"_ _0\"></span>92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f1 y5f49 w59b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">115<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f2 y5f49 w6d6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>42</div></td><td class=\"c n x12f3 y5f49 w702 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>449</div></td><td class=\"c n x12f4 y5f49 w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>35<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f5 y5f49 w3f2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f6 y5f49 w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">43</div></td><td class=\"c n x12f7 y5f49 w701 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>53<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f4a w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1057 y5f4a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1058 y5f4a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1059 y5f4a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105a y5f4a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f8 y5f4a w185 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(50)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f9 y5f4a w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12fa y5f4a wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12fb y5f4a w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(48)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f4b w6bc h25b\"><div class=\"t m0 x1cf h23 y5a7e ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x126b y5f4b w75c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,<span class=\"_ _0\"></span>892<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12fc y5f4b wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">115<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12fd y5f4b w6d6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>42</div></td><td class=\"c n x12fe y5f4b w54 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>,4<span class=\"_ _0\"></span>49</div></td><td class=\"c n x12ff y5f4b w7a2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1300 y5f4b w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1301 y5f4b w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">43</div></td><td class=\"c n x1302 y5f4b w7a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>85<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f4c w787 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance reven<span class=\"_ _0\"></span>ue (<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>ote C1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1303 y5f4c w7a4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>274<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1304 y5f4c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1305 y5f4c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1306 y5f4c w7a5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>274<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1307 y5f4c w7a6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(272)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1308 y5f4c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1309 y5f4c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x130a y5f4c w7a7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>72)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f4d ff2 fs6 fc3 sc0 ls12 ws13\">Insurance service e<span class=\"_ _2\"></span>xpenses:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f4e w7a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>urred claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x130b y5f4e w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x130c y5f4e w5ff h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x130d y5f4e w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x130e y5f4e w249 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">257<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x130f y5f4e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1310 y5f4e w1ba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1311 y5f4e w320 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">257<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95f y5f4e w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f4f ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of insuranc<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f50 w7a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">ca<span class=\"_ _0\"></span>sh<span class=\"_ gs47\"> </span>flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1312 y5f50 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1313 y5f50 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1314 y5f50 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1315 y5f50 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1316 y5f50 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b4 y5f50 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1317 y5f50 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1318 y5f50 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f51 ff2 fs6 fc3 sc0 ls1 ws1\">Loss<span class=\"_ _0\"></span>es on onero<span class=\"_ _0\"></span>us contra<span class=\"_ _0\"></span>cts and re<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsals </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f52 w78d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">of<span class=\"_ gs47\"> </span>thos<span class=\"_ _0\"></span>e losse<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1289 y5f52 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1319 y5f52 w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131a y5f52 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131b y5f52 w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131c y5f52 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcd0 y5f52 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131d y5f52 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131e y5f52 w1b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f53 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges to liabiliti<span class=\"_ _0\"></span>es for incurre<span class=\"_ _0\"></span>d claims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f54 w78e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(pas<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>ser<span class=\"_ _0\"></span>vice)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1290 y5f54 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1291 y5f54 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131f y5f54 w70e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1320 y5f54 w1d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1321 y5f54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1322 y5f54 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1323 y5f54 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa91 y5f54 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f55 w6db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1324 y5f55 w7a4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>274<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1325 y5f55 w4e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1326 y5f55 w7aa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">249<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1327 y5f55 w13c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(45)</div></td><td class=\"c n x1328 y5f55 w7a7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>72)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1329 y5f55 w1ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x132a y5f55 w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">271<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x132b y5f55 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(23)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f56 w7ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance fi<span class=\"_ _2\"></span>nance expense<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x132c y5f56 w690 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1313 y5f56 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x132d y5f56 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14</div></td><td class=\"c n x132e y5f56 w5bf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>2</div></td><td class=\"c n x132f y5f56 w7ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1330 y5f56 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1331 y5f56 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9</div></td><td class=\"c n x1332 y5f56 w714 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,590<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5f57 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>es in the co<span class=\"_ _0\"></span>nsolid<span class=\"_ _0\"></span>ated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f58 w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1333 y5f58 w7ad h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,434<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1334 y5f58 w4e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1335 y5f58 w28a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">263</div></td><td class=\"c n x1336 y5f58 w18e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,67<span class=\"_ _0\"></span>7</div></td><td class=\"c n xc55 y5f58 w7ae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,304<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1337 y5f58 w220 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x61f y5f58 w2b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1338 y5f58 w714 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,567<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f59 w794 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ment components<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1339 y5f59 w606 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,679)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x133a y5f59 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x133b y5f59 w5fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,679<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x133c y5f59 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x133d y5f59 w7af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,207<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x133e y5f59 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x133f y5f59 w658 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,207<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1340 y5f59 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f5a ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f5b w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c6 y5f5b w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c7 y5f5b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c8 y5f5b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c9 y5f5b w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ca y5f5b w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">389<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1341 y5f5b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1342 y5f5b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1343 y5f5b w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">389<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f5c w715 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x10cd h11 y5da0 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f36 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bb y5f36 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1344 y5f36 w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">(2,999<span class=\"_ _2\"></span>)</div></td><td class=\"c n x1345 y5f36 w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">(2,999<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1346 y5f36 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1347 y5f36 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1348 y5f36 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(2,<span class=\"_ _0\"></span>365)</div></td><td class=\"c n x1349 y5f36 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(<span class=\"_ _0\"></span>2,365)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5f5d w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x134a y5f5d w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x134b y5f5d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x134c y5f5d w491 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">(2,999<span class=\"_ _2\"></span>)</div></td><td class=\"c n x134d y5f5d w716 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,622<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x134e y5f5d w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">389<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x134f y5f5d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1350 y5f5d w6f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(2,<span class=\"_ _0\"></span>365)</div></td><td class=\"c n x1351 y5f5d w718 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>976<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f5e w719 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x101b h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f5e w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1352 y5f5e w7b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1353 y5f5e w197 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1354 y5f5e wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3</div></td><td class=\"c n x1355 y5f5e w34d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">2,<span class=\"_ _0\"></span>097<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1356 y5f5e w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1357 y5f5e w277 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>7</div></td><td class=\"c n x1358 y5f5e w5b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>373<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f5f w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x30f h11 y5cae ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5f60 w71c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,<span class=\"_ _0\"></span>029<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1359 y5f60 w7b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x135a y5f60 wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">384</div></td><td class=\"c n x135b y5f60 w2e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>507</div></td><td class=\"c n x135c y5f60 w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22,89<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x135d y5f60 w378 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">115<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x135e y5f60 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">4<span class=\"_ _0\"></span>42</div></td><td class=\"c n x135f y5f60 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,4<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f61 w71e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div></td><td class=\"c n x1360 y5f61 w71c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,<span class=\"_ _0\"></span>029<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1361 y5f61 w7b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1362 y5f61 wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">384</div></td><td class=\"c n x1363 y5f61 w2e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>507</div></td><td class=\"c n x1364 y5f61 w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22,89<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1365 y5f61 w378 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">115<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1366 y5f61 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">4<span class=\"_ _0\"></span>42</div></td><td class=\"c n x1367 y5f61 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,4<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f62 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></td><td class=\"c n x10dd y5f63 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bb y5f63 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1368 y5f63 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1369 y5f63 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x136a y5f63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x136b y5f63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x136c y5f63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x136d y5f63 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5eac w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x103d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5f38 w71c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22,<span class=\"_ _0\"></span>029<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1359 y5f38 w7b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x135a y5f38 wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">384</div></td><td class=\"c n x135b y5f38 w2e4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>507</div></td><td class=\"c n x135c y5f38 w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22,89<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x135d y5f38 w378 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">115<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x135e y5f38 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">4<span class=\"_ _0\"></span>42</div></td><td class=\"c n x135f y5f38 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,4<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs703\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e notes F<span class=\"_ _0\"></span>1 and A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs704\">2  <span class=\"_ _0\"></span>\u00a32,<span class=\"_ _0\"></span>411 milli<span class=\"_ _0\"></span>on incl<span class=\"_ _0\"></span>uded i<span class=\"_ _0\"></span>n \u2018Es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>tes of the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt valu<span class=\"_ _0\"></span>e of futur<span class=\"_ _0\"></span>e cash fl<span class=\"_ _0\"></span>ows\u2019 in 2<span class=\"_ _0\"></span>023 rel<span class=\"_ _0\"></span>ates to th<span class=\"_ _0\"></span>e fair va<span class=\"_ _0\"></span>lue of ins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce con<span class=\"_ _0\"></span>trac<span class=\"_ _0\"></span>ts acq<span class=\"_ _0\"></span>uired a<span class=\"_ _0\"></span>s par<span class=\"_ _0\"></span>t of the ac<span class=\"_ _0\"></span>quis<span class=\"_ _0\"></span>ition of P<span class=\"_ _0\"></span>hoen<span class=\"_ _0\"></span>ix Life CA H<span class=\"_ _0\"></span>oldin<span class=\"_ _0\"></span>gs Limit<span class=\"_ _0\"></span>ed </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs705\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d).<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w7b2 h266\" id=\"_59a9394c-ebc7-45ef-8a5f-999d95482c7f\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5f64 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5f64 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124d h29 y5f65 ff3 fs5 fc3 sc0 ls65 wsc0\">Liabilities for remaining </td><td></td><td></td><td></td><td class=\"t m0 x124e ha y5f65 ff2 fs5 fc3 sc0 ls21 ws23\">Liabilities for rem<span class=\"_ _0\"></span>aining<span class=\"ls1 ws1\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124f h29 y5f66 ff3 fs5 fc3 sc0 lsc4 wsc7\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x1250 ha y5f66 ff2 fs5 fc3 sc0 ls14a ws138\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x48e ha y5f67 ff2 fs5 fc3 sc0 ls1 ws1\">Lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es for </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x1251 h29 y5f68 ff3 fs5 fc3 sc0 ls8d ws86\">Liabilities<span class=\"_ _2\"></span> for </td><td></td><td class=\"t m0 x606 ha y5f68 ff2 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">Ex<span class=\"_ _0\"></span>cludi<span class=\"_ _0\"></span>ng los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x497 ha y5f69 ff2 fs5 fc3 sc0 ls21 ws23\">incurre<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 x3b7 h29 y5f6a ff3 fs5 fc3 sc0 ls1 ws1\">Ex<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing lo<span class=\"_ _0\"></span>ss </td><td class=\"t m0 x1252 h29 y5f6a ff3 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x48c h29 y5f6a ff3 fs5 fc3 sc0 ls65 wsc0\">incurred </td><td></td><td class=\"t m0 xa13 ha y5f6a ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f7 ha y5f6b ff2 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x3b1 ha y5f6b ff2 fs5 fc3 sc0 ls11 ws11\">claims<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5f6b ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5f6c ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa10 h29 y5f6c ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1253 h29 y5f6c ff3 fs5 fc3 sc0 ls8d ws86\">claims<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5f6c ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"c x103f y5f6d w6fc h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x103e h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x913 ha y5f6e ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"c xf72 y5f6d w6b0 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf71 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"c x289 y5f6d w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h29 y5f6f ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db h29 y5f6f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5f6f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5f6f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5f6f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5f70 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5f70 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5f70 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5f70 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y5f71 w7b3 h267\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y as<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls177 ws186\">rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x136e y5f71 w7b4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">2<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x136f y5f71 w50d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _0\"></span>2</div></td><td class=\"c n x1370 y5f71 w5fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,678</div></td><td class=\"c n x1371 y5f71 w655 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">3<span class=\"_ _0\"></span>0,5<span class=\"_ _0\"></span>81</div></td><td class=\"c n x1372 y5f71 w7b5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1373 y5f71 w552 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">3<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1374 y5f71 w14f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">796</div></td><td class=\"c n x10fa y5f71 we6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">29,0<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f49 w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf3 y5f49 w6c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">(<span class=\"_ _0\"></span>71)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1375 y5f49 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1376 y5f49 w78f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>117<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1377 y5f49 w65b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(2,1<span class=\"_ _0\"></span>88)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1378 y5f49 w212 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>71<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1379 y5f49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x137a y5f49 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x137b y5f49 w212 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>71<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f72 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f73 w6b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(re<span class=\"_ _0\"></span>st<span class=\"_ _0\"></span>ate<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1102 y5f73 w7b4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">2<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x137c y5f73 w50d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x137d y5f73 w68b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">561</div></td><td class=\"c n x1106 y5f73 w725 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93</div></td><td class=\"c n x137e y5f73 w7b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,7<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x137f y5f73 w552 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">3<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1380 y5f73 w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">796</div></td><td class=\"c n x1381 y5f73 w7b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">28,934<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5f4b w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf86 y5f4b w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf87 y5f4b w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf88 y5f4b w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf89 y5f4b we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8a y5f4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8b y5f4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8c y5f4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf8d y5f4b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f74 w6bc h25b\"><div class=\"t m0 x1cf h23 y5a7e ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x110a y5f74 w7b4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">2<span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1382 y5f74 w47 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">312<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1383 y5f74 w334 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">5<span class=\"_ _0\"></span>61</div></td><td class=\"c n x1384 y5f74 w725 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _0\"></span>,3<span class=\"_ _0\"></span>93</div></td><td class=\"c n x1385 y5f74 w7b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,7<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1386 y5f74 w552 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">3<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1387 y5f74 w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">796</div></td><td class=\"c n x1388 y5f74 w7b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">28,934<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5f75 w787 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance reven<span class=\"_ _0\"></span>ue (<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>ote C1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1389 y5f75 w301 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(378)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x138a y5f75 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x138b y5f75 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x138c y5f75 w301 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(378)</div></td><td class=\"c n x138d y5f75 w28c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x138e y5f75 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x138f y5f75 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1390 y5f75 w6c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f76 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance service e<span class=\"_ _2\"></span>xpenses:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f77 w7a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>urred claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1391 y5f77 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1392 y5f77 w5ff h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(43)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1393 y5f77 w47 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">316<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1394 y5f77 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1395 y5f77 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1396 y5f77 w7b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>61)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1397 y5f77 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1398 y5f77 w4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">192<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f78 ff2 fs6 fc3 sc0 ls1 ws1\">Loss<span class=\"_ _0\"></span>es on onero<span class=\"_ _0\"></span>us contra<span class=\"_ _0\"></span>cts and re<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsals </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5e9b w78d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">of<span class=\"_ gs47\"> </span>thos<span class=\"_ _0\"></span>e losse<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1399 y5e9b w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139a y5e9b w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139b y5e9b w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139c y5e9b w4e6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139d y5e9b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139e y5e9b wb9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>64)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1287 y5e9b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x139f y5e9b w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f79 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges to liabiliti<span class=\"_ _0\"></span>es for incurre<span class=\"_ _0\"></span>d claims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f2d w78e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">(pas<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>ser<span class=\"_ _0\"></span>vice)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a0 y5f2d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a1 y5f2d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a2 y5f2d wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(38)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a3 y5f2d w704 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a4 y5f2d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a5 y5f2d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d0 y5f2d w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a6 y5f2d w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(33)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f7a w6db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ae y5f7a w7ba h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(378)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a7 y5f7a w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a8 y5f7a waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">278<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a9 y5f7a w80 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>176<span class=\"_ _0\"></span>)</div></td><td class=\"c n x13aa y5f7a w28c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(267<span class=\"_ _0\"></span>)</div></td><td class=\"c n x13ab y5f7a w84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>125<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ac y5f7a w7bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ad y5f7a w7a6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(172)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f7b w7ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance fi<span class=\"_ _2\"></span>nance expense<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ae y5f7b w7bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">1,0<span class=\"_ _0\"></span>98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13af y5f7b w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b0 y5f7b wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23</div></td><td class=\"c n xacd y5f7b w7bd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,122</div></td><td class=\"c n x13b1 y5f7b w7be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,883<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a4 y5f7b w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b2 y5f7b w34b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17</div></td><td class=\"c n x13b3 y5f7b w7bf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>914<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5f7c ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>es in the co<span class=\"_ _0\"></span>nsolid<span class=\"_ _0\"></span>ated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f7d w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b4 y5f7d w2fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">720<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b5 y5f7d w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>75)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b6 y5f7d w501 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">301<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x34c y5f7d w46 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">946</div></td><td class=\"c n x118e y5f7d w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,616<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b7 y5f7d w2e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">(111)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b8 y5f7d w22e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">237</div></td><td class=\"c n x13b9 y5f7d w6f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">1<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ea1 w794 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ment components<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ba y5ea1 w65b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(2,<span class=\"_ _0\"></span>369)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13bb y5ea1 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x13bc y5ea1 w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2<span class=\"_ _0\"></span>,369<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13bd y5ea1 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x13be y5ea1 w3f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(2,36<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13bf y5ea1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x13c0 y5ea1 w1a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">2,<span class=\"_ _0\"></span>360<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13c1 y5ea1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5f7e ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5f7f w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1165 y5f7f w501 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">101<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1166 y5f7f w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1167 y5f7f w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1168 y5f7f w55d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">101<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1169 y5f7f wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x116a y5f7f wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x116b y5f7f wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x116c y5f7f w18b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f80 w715 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x10cd h11 y5cbe ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f81 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bb y5f81 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1344 y5f81 w73c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>2,5<span class=\"_ _0\"></span>67)</div></td><td class=\"c n x13c2 y5f81 w73d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(2<span class=\"_ _0\"></span>,567<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13c3 y5f81 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13c4 y5f81 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x13c5 y5f81 w54c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(2<span class=\"_ _0\"></span>,81<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>)</div></td><td class=\"c n x13c6 y5f81 w7c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>811<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ed7 w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13c7 y5ed7 w501 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">101<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13c8 y5ed7 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x13c9 y5ed7 w73c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(2,<span class=\"_ _0\"></span>567<span class=\"_ _0\"></span>)</div></td><td class=\"c n x13ca y5ed7 w7c1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,<span class=\"_ _0\"></span>466)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13cb y5ed7 w18b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13cc y5ed7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x13cd y5ed7 w7c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>811<span class=\"_ _0\"></span>)</div></td><td class=\"c n xf00 y5ed7 w740 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">(2,69<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f82 w776 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x117d h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f82 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ce y5f82 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13cf y5f82 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d0 y5f82 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d1 y5f82 w101 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5e wsb2\">402<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d2 y5f82 wc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d3 y5f82 w23e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d4 y5f82 w6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">407<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5eda w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x103d h11 y5cae ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5f37 w71d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">25<span class=\"_ _0\"></span>,97<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d5 y5f37 w7c2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">238<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d6 y5f37 w7c3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">664</div></td><td class=\"c n x13d7 y5f37 w422 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>874</div></td><td class=\"c n x13d8 y5f37 w7c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d9 y5f37 w3f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13da y5f37 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">5<span class=\"_ _0\"></span>61</div></td><td class=\"c n x13db y5f37 w7c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>393<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5edc w71e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div></td><td class=\"c n x12dc y5edc w79d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">25<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>972<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13dc y5edc w7c6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13dd y5edc w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">664</div></td><td class=\"c n x13de y5edc wef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">26<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>74</div></td><td class=\"c n x13df y5edc w7c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e0 y5edc w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e1 y5edc w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">561</div></td><td class=\"c n x13e2 y5edc w720 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28,<span class=\"_ _0\"></span>393<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f83 w6fa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e3 y5f83 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e4 y5f83 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e5 y5f83 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e6 y5f83 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e7 y5f83 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e8 y5f83 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e9 y5f83 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ea y5f83 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5eac w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x103d h79 y5cae ff3 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x102d y5f38 w71d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">25<span class=\"_ _0\"></span>,97<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d5 y5f38 w7c2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">238<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d6 y5f38 w7c3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">664</div></td><td class=\"c n x13d7 y5f38 w422 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">2<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>874</div></td><td class=\"c n x13d8 y5f38 w7c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">2<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>5<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13d9 y5f38 w3f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13da y5f38 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">5<span class=\"_ _0\"></span>61</div></td><td class=\"c n x13db y5f38 w7c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>393<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs707\">1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>tes F1 an<span class=\"_ _0\"></span>d A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs708\">2  <span class=\"_ _0\"></span>\u00a334<span class=\"_ _0\"></span>9 milli<span class=\"_ _0\"></span>on incl<span class=\"_ _0\"></span>uded in \u2018<span class=\"_ _0\"></span>Es<span class=\"_ _0\"></span>timat<span class=\"_ _0\"></span>es of the p<span class=\"_ _0\"></span>rese<span class=\"_ _0\"></span>nt value o<span class=\"_ _0\"></span>f futur<span class=\"_ _0\"></span>e cash fl<span class=\"_ _0\"></span>ows\u2019 in 20<span class=\"_ _0\"></span>23 rela<span class=\"_ _0\"></span>tes to th<span class=\"_ _0\"></span>e fair va<span class=\"_ _0\"></span>lue of ins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce cont<span class=\"_ _0\"></span>rac<span class=\"_ _0\"></span>ts acq<span class=\"_ _0\"></span>uired a<span class=\"_ _0\"></span>s par<span class=\"_ _0\"></span>t of the ac<span class=\"_ _0\"></span>quisi<span class=\"_ _0\"></span>tion of Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s Limit<span class=\"_ _0\"></span>ed </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs709\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d).<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w6ae h268\" id=\"_619488b9-4eac-4a10-93f4-7423672c59cc\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5f84 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5f84 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124d h29 y5f85 ff3 fs5 fc3 sc0 ls65 wsc0\">Liabilities for remaining </td><td></td><td></td><td></td><td class=\"t m0 x124e ha y5f85 ff2 fs5 fc3 sc0 ls21 ws23\">Liabilities for rem<span class=\"_ _0\"></span>aining<span class=\"ls1 ws1\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124f h29 y5f86 ff3 fs5 fc3 sc0 lsc4 wsc7\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td class=\"t m0 x1250 ha y5f86 ff2 fs5 fc3 sc0 ls14a ws138\">cover<span class=\"_ _0\"></span>age<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c n x13eb y5f87 w7c7 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Lia<span class=\"_ _0\"></span>biliti<span class=\"_ _0\"></span>es for<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"c n x13ec y5f88 w7c8 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">Liabilities<span class=\"_ _2\"></span> for<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n x13ed y5f89 w7c9 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">incurre<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x979 y5f8a w7ca h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">Ex<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ee y5f8a w7cb h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s</div></td><td class=\"c n x13ef y5f8a w7cc h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls65 wsc0\">incurred<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x13f0 y5f8b w7cd h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Ex<span class=\"_ _0\"></span>cludi<span class=\"_ _0\"></span>ng los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13f1 y5f8b w7ce h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13f2 y5f8b w7cf h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">claims<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a1 y5f8b w753 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1196 y5f8c w7d0 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">component</div></td><td class=\"c n x13f3 y5f8c w7d0 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x91a y5f8c w7d1 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">claims<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a2 y5f8c w756 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al</div></td><td class=\"c n x1195 y5f8d w7d2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">component</div></td><td class=\"c n x13f4 y5f8d w7d2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">component</div></td><td class=\"c xf72 y5f8d w6b0 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xf71 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"c x289 y5f8d w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f8f w759 h269\"><div class=\"t m0 x1cf h29 y5f8e ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbec y5f90 w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a4 y5f90 w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a5 y5f90 w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a6 y5f90 w75a h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a7 y5f91 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a8 y5f91 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a9 y5f91 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11aa y5f91 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5f92 w165 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">as<span class=\"_ gs47\"> </span>rep<span class=\"_ _0\"></span>orte<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf73 y5f92 w721 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>055<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13f5 y5f92 w1c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13f6 y5f92 w7d3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">93</div></td><td class=\"c n x13f7 y5f92 w54 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>,29<span class=\"_ _0\"></span>0</div></td><td class=\"c n x13f8 y5f92 w7d4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">22<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>271<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13f9 y5f92 w1b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13fa y5f92 w520 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">446</div></td><td class=\"c n x13fb y5f92 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>2,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5f93 w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5f93 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bb y5f93 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13fc y5f93 w2fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">366<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13fd y5f93 w3c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">366<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13fe y5f93 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13ff y5f93 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1400 y5f93 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1401 y5f93 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f94 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 1 Jan<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f95 w6b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls147 ws152\">(re<span class=\"_ _0\"></span>st<span class=\"_ _0\"></span>ate<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x104f y5f95 w721 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>055<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12f1 y5f95 w6d6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1402 y5f95 w12a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _0\"></span>9</div></td><td class=\"c n x1403 y5f95 w703 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>,65<span class=\"_ _0\"></span>6</div></td><td class=\"c n x1404 y5f95 w7d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">22,<span class=\"_ _0\"></span>271<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1405 y5f95 w1b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1406 y5f95 w7d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">446</div></td><td class=\"c n x1407 y5f95 w3f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f96 w6bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1057 y5f96 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1058 y5f96 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1059 y5f96 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x105a y5f96 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c0 y5f96 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c1 y5f96 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c2 y5f96 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c3 y5f96 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5f97 w6bc h25b\"><div class=\"t m0 x1cf h23 y5a7e ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x126b y5f97 w54 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>,05<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1408 y5f97 w6d6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1409 y5f97 w516 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _0\"></span>9</div></td><td class=\"c n x140a y5f97 w702 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>656</div></td><td class=\"c n x140b y5f97 w7d7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">22<span class=\"_ _0\"></span>,271<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x140c y5f97 w1b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x140d y5f97 w520 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">446</div></td><td class=\"c n x140e y5f97 w6b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f98 w787 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance reven<span class=\"_ _0\"></span>ue (<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>ote C1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x140f y5f98 w4ba h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(569)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1410 y5f98 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1411 y5f98 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1412 y5f98 w7d8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(56<span class=\"_ _0\"></span>9)</div></td><td class=\"c n x1413 y5f98 w538 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>571<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1414 y5f98 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11c2 y5f98 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1415 y5f98 w769 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>571<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f99 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance service e<span class=\"_ _2\"></span>xpenses:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f9a w7a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>urred claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x130b y5f9a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1416 y5f9a w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1417 y5f9a w31e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">521<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1418 y5f9a w2b2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1419 y5f9a wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141a y5f9a w1ae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141b y5f9a w47 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">526<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141c y5f9a w2ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5f9b w7d9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls144 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on of insuranc<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion cash<span class=\"_ gs47\"> </span>flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141d y5f9b w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141e y5f9b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141f y5f9b w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1420 y5f9b w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1421 y5f9b w22d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1422 y5f9b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1423 y5f9b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1424 y5f9b w22d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f9c ff2 fs6 fc3 sc0 ls1 ws1\">Loss<span class=\"_ _0\"></span>es on onero<span class=\"_ _0\"></span>us contra<span class=\"_ _0\"></span>cts and re<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsals </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f9d w78d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">of<span class=\"_ gs47\"> </span>thos<span class=\"_ _0\"></span>e losse<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1289 y5f9d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1425 y5f9d w51d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1078 y5f9d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1079 y5f9d w1f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1426 y5f9d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1427 y5f9d wc6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1208 y5f9d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1428 y5f9d wc6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5f9e ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges to liabiliti<span class=\"_ _0\"></span>es for incurre<span class=\"_ _0\"></span>d claims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5f9f w78e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(pas<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>ser<span class=\"_ _0\"></span>vice)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1290 y5f9f w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1291 y5f9f w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1429 y5f9f w1e5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x142a y5f9f w76a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2e y5f9f wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x142b y5f9f wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x142c y5f9f w352 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>04)</div></td><td class=\"c n x142d y5f9f w28b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>04)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5fa0 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>irment of ass<span class=\"_ _0\"></span>ets for insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e6b w6da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">cash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe1 y5e6b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe2 y5e6b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe3 y5e6b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe4 y5e6b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1206 y5e6b w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1207 y5e6b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1208 y5e6b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c4 y5e6b w1e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fa1 w6db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e result<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe7 y5fa1 w7da h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>558)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1334 y5fa1 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x142e y5fa1 w50a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">513<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x142f y5fa1 w185 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(61)</div></td><td class=\"c n x1430 y5fa1 w7db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(56<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1431 y5fa1 w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1432 y5fa1 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1433 y5fa1 w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(110<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fa2 w7ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Insurance fi<span class=\"_ _2\"></span>nance expense<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1434 y5fa2 w7dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>,326<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1435 y5fa2 w51d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1436 y5fa2 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4</div></td><td class=\"c n x1437 y5fa2 w7dd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">1<span class=\"_ _0\"></span>,348</div></td><td class=\"c n x1438 y5fa2 w7be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,488<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1439 y5fa2 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x143a y5fa2 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15</div></td><td class=\"c n x143b y5fa2 w76d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>517<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5fa3 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>es in the co<span class=\"_ _0\"></span>nsolid<span class=\"_ _0\"></span>ated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fa4 w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b4 y5fa4 we0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">768<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x143c y5fa4 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x143d y5fa4 w2c7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">5<span class=\"_ _0\"></span>17</div></td><td class=\"c n x143e y5fa4 w60d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x143f y5fa4 w2b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">9<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1440 y5fa4 w4ef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1441 y5fa4 w24e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>37</div></td><td class=\"c n x1442 y5fa4 w71b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>407<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fa5 w794 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ment components<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1443 y5fa5 w175 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>485<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1444 y5fa5 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1445 y5fa5 w7de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">1,<span class=\"_ _0\"></span>485<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc0 y5fa5 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1446 y5fa5 w720 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>48<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1422 y5fa5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1fd y5fa5 w7be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1,<span class=\"_ _0\"></span>483<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaf1 y5fa5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5fa6 ff2 fs6 fc3 sc0 lse wse\">Cash flows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fa7 w6e6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x121d y5fa7 w690 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x121e y5fa7 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11f5 y5fa7 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x121f y5fa7 w5bf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1220 y5fa7 w4ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1221 y5fa7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d2 y5fa7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1222 y5fa7 w4ac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">1<span class=\"_ _0\"></span>,673<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5fa8 w715 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other exp<span class=\"_ _0\"></span>enses p<span class=\"_ _0\"></span>aid</div><div class=\"t m0 x10cd h11 y5da0 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10dd y5e73 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12bb y5e73 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1447 y5e73 w7df h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>249<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1448 y5e73 w7e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>249<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1449 y5e73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x144a y5e73 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x144b y5e73 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>93)</div></td><td class=\"c n x144c y5e73 w720 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>89<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e74 w6eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122a y5e74 w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122b y5e74 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122c y5e74 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122d y5e74 w1f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(106<span class=\"_ _0\"></span>)</div></td><td class=\"c n x122e y5e74 w771 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(116<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x122f y5e74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1230 y5e74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1231 y5e74 w76e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(116<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e75 w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x144d y5e75 w4b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">1<span class=\"_ _0\"></span>,614<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x144e y5e75 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x144f y5e75 w76f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>249<span class=\"_ _0\"></span>)</div></td><td class=\"c n xe33 y5e75 w7e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">(635)</div></td><td class=\"c n x1450 y5e75 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,557<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1451 y5e75 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1452 y5e75 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>893)</div></td><td class=\"c n x1453 y5e75 w775 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(336<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5e77 w776 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x117d h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf2d y5fa9 w777 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(64<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1238 y5fa9 w635 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1454 y5fa9 w767 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)</div></td><td class=\"c n x1455 y5fa9 w778 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(6<span class=\"_ _0\"></span>58)</div></td><td class=\"c n x1456 y5faa w318 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>218)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1457 y5faa w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1458 y5faa w7e2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14)</div></td><td class=\"c n x1459 y5faa w631 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fab w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x30f h11 y5cae ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145a y5e78 w54 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>30<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145b y5e78 w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145c y5e78 w7e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>4</div></td><td class=\"c n x145d y5e78 w54 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>,65<span class=\"_ _0\"></span>0</div></td><td class=\"c n x145e y5e78 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,<span class=\"_ _0\"></span>055<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145f y5e78 w7e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">142<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1460 y5e78 w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">459</div></td><td class=\"c n x1461 y5e78 w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,65<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e0d w71e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er</div></td><td class=\"c n x10ec y5e0d w65b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,3<span class=\"_ _0\"></span>06<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1462 y5e0d w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1463 y5e0d w7e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>4</div></td><td class=\"c n x1464 y5e0d w54 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>65<span class=\"_ _0\"></span>0</div></td><td class=\"c n x1465 y5e0d w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _0\"></span>,055<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1466 y5e0d w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1467 y5e0d w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">459</div></td><td class=\"c n x1468 y5e0d w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,65<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d2b w6fa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1035 y5d2b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1036 y5d2b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1037 y5d2b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1038 y5d2b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1039 y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103a y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103b y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x103c y5d2b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5b44 w6bc h25d\"><div class=\"t m0 x1cf h23 y5e7b ff3 fs6 fc3 sc0 ls1 ws1\">Net i<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce cont<span class=\"_ _0\"></span>ract l<span class=\"_ _0\"></span>iabilitie<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls12 ws13\">31 December</div><div class=\"t m0 x30f h11 y5cae ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145a y5b4c w54 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23,<span class=\"_ _0\"></span>30<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145b y5b4c w502 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145c y5b4c w7e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>4</div></td><td class=\"c n x145d y5b4c w54 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>,65<span class=\"_ _0\"></span>0</div></td><td class=\"c n x145e y5b4c w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,<span class=\"_ _0\"></span>055<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x145f y5b4c w7e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">142<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1460 y5b4c w2e1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">459</div></td><td class=\"c n x1461 y5b4c w71d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23,65<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs70b\">1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>tes F1 an<span class=\"_ _0\"></span>d A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs70c\">2  <span class=\"_ _0\"></span>\u00a3112 m<span class=\"_ _0\"></span>illion in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ed in \u2018<span class=\"_ _0\"></span>Est<span class=\"_ _0\"></span>imates o<span class=\"_ _0\"></span>f the pre<span class=\"_ _0\"></span>sent va<span class=\"_ _0\"></span>lue of fu<span class=\"_ _0\"></span>ture c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s\u2019 in 2023 r<span class=\"_ _0\"></span>elate<span class=\"_ _0\"></span>s to the fa<span class=\"_ _0\"></span>ir valu<span class=\"_ _0\"></span>e of insur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontr<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>s acqui<span class=\"_ _0\"></span>red as p<span class=\"_ _0\"></span>art of t<span class=\"_ _0\"></span>he acq<span class=\"_ _0\"></span>uisiti<span class=\"_ _0\"></span>on of Pho<span class=\"_ _0\"></span>enix Li<span class=\"_ _0\"></span>fe CA Hol<span class=\"_ _0\"></span>dings L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs70d\">(form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imite<span class=\"_ _0\"></span>d).<span class=\"_ _3bd\"> </span></div>F<span class=\"_ _2\"></span>4 M<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>veme<span class=\"_ _0\"></span>nts in present value of fut<span class=\"_ _0\"></span>ure cash flows<span class=\"_ _0\"></span>, risk adjus<span class=\"_ _0\"></span>tment and CS<span class=\"_ _0\"></span>M or reinsuran<span class=\"_ _0\"></span>ce contrac<span class=\"_ _0\"></span>ts held.<span class=\"_ _3bd\"> </span>The re<span class=\"_ _0\"></span>conciliat<span class=\"_ _0\"></span>ions below p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>de a roll-forwar<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e net ass<span class=\"_ _0\"></span>et or liabilit<span class=\"_ _0\"></span>y for reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld by mea<span class=\"_ _0\"></span>surement c<span class=\"_ _0\"></span>omponent<span class=\"_ _0\"></span>, showing<span class=\"_ _3bd\"> </span>es<span class=\"_ _0\"></span>timates of the pre<span class=\"_ _0\"></span>sent value of fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s, the ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for no<span class=\"_ _0\"></span>n-financi<span class=\"_ _0\"></span>al risk and th<span class=\"_ _0\"></span>e CSM<span class=\"_ _0\"></span>.<table class=\"s w7e5 h26a\" id=\"_872acd81-82aa-4d06-9382-3f70feb46059\"><tr><td></td><td></td><td></td><td class=\"c n xbfa y5fac w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5fac w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x9e1 h29 y5fad ff3 fs5 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>tima<span class=\"_ _0\"></span>tes of </td><td></td><td></td><td></td><td class=\"t m0 xbff ha y5fad ff2 fs5 fc3 sc0 ls54 ws7f\">Estimates<span class=\"_ _2\"></span> of<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5fae ff3 fs5 fc3 sc0 ls1 ws1\">the p<span class=\"_ _0\"></span>res<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td class=\"t m0 xbff ha y5fae ff2 fs5 fc3 sc0 ls21 ws23\"> the prese<span class=\"_ _0\"></span>nt<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xf6a h29 y5faf ff3 fs5 fc3 sc0 ls1 ws1\">val<span class=\"_ _0\"></span>ue of </td><td></td><td class=\"t m0 x6bc h29 y5faf ff3 fs5 fc3 sc0 lsbe wsbe\">Contractual </td><td></td><td class=\"t m0 x1469 ha y5faf ff2 fs5 fc3 sc0 ls11 ws11\"> value of<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xf6b h29 y5fb0 ff3 fs5 fc3 sc0 ls1 ws1\">fut<span class=\"_ _0\"></span>ure ca<span class=\"_ _0\"></span>sh </td><td class=\"t m0 xf6c h29 y5fb0 ff3 fs5 fc3 sc0 lsa6 wsa1\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5fb0 ff3 fs5 fc3 sc0 ls1 ws1\">se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e </td><td></td><td class=\"t m0 x96a ha y5fb0 ff2 fs5 fc3 sc0 ls21 ws23\"> future<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6d ha y5fb0 ff2 fs5 fc3 sc0 ls22 ws24\">Risk<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe3c ha y5fb0 ff2 fs5 fc3 sc0 ls11 ws11\">Contractual </td><td></td></tr><tr><td></td><td class=\"t m0 x2f2 h29 y5fb1 ff3 fs5 fc3 sc0 ls105 ws107\">flows<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6e h29 y5fb1 ff3 fs5 fc3 sc0 ls9e ws9a\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e4 h29 y5fb1 ff3 fs5 fc3 sc0 ls65 wsc0\">margin<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5fb1 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al</td><td class=\"t m0 x146a ha y5fb1 ff2 fs5 fc3 sc0 lsa8 wsa3\"> cash flows<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e2 ha y5fb1 ff2 fs5 fc3 sc0 ls4d wsbf\">adjustment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y5fb1 ff2 fs5 fc3 sc0 ls21 ws23\">ser<span class=\"_ _0\"></span>vice margin<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5fb1 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2db h29 y5fb2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5fb2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5fb2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5fb2 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5fb2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5fb2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5fb2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5fb2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5fb3 w7e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities as at 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x146b y5fb3 w613 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>244<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x146c y5fb3 w7e7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x146d y5fb3 w5a0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x146e y5fb3 w2e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(1<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x146f y5fb3 w1b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1470 y5fb3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1471 y5fb3 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1472 y5fb3 w7e8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5fb4 w7e9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s as at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1473 y5fb4 w7ea h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1474 y5fb4 w724 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">596</div></td><td class=\"c n x1475 y5fb4 w60d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>870</div></td><td class=\"c n x1476 y5fb4 w691 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>,876</div></td><td class=\"c n x1477 y5fb4 w7eb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>,285<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1478 y5fb4 w55a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">478</div></td><td class=\"c n x1479 y5fb4 w2c9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6c ws1ca\">1,<span class=\"_ _0\"></span>308</div></td><td class=\"c n x147a y5fb4 w19b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>,071<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fb5 w7ec h25f\"><div class=\"t m0 x1cf h23 y5a82 ff3 fs6 fc3 sc0 ls1 ws1\">Net r<span class=\"_ _0\"></span>einsur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t ass<span class=\"_ _0\"></span>ets as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x147b y5fb5 w7ed h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">2,16<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x147c y5fb5 wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">633</div></td><td class=\"c n x630 y5fb5 w68d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,930</div></td><td class=\"c n x147d y5fb5 w172 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">4<span class=\"_ _0\"></span>,72<span class=\"_ _0\"></span>9</div></td><td class=\"c n x147e y5fb5 w15b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">2,<span class=\"_ _0\"></span>277<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x147f y5fb5 w55a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">478</div></td><td class=\"c n x1480 y5fb5 w2c9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,309</div></td><td class=\"c n x1481 y5fb5 w7ee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,0<span class=\"_ _0\"></span>64<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x1482 hc y5fb6 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5fb7 w7ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges in p<span class=\"_ _0\"></span>rofit or los<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c n x1483 y5fb7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5fb8 w7f0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es rece<span class=\"_ _0\"></span>ived<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1399 y5fb8 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1484 y5fb8 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1485 y5fb8 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(16<span class=\"_ _0\"></span>3)</div></td><td class=\"c n x1486 y5fb8 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(16<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1487 y5fb8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1012 y5fb8 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1488 y5fb8 w76e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16<span class=\"_ _0\"></span>8)</div></td><td class=\"c n x1489 y5fb8 w76e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5fb9 w6c1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent for the risk ex<span class=\"_ _0\"></span>pired<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf9e y5fb9 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc80 y5fb9 w31e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(58)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x148a y5fb9 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x148b y5fb9 w546 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(58)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x148c y5fb9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x148d y5fb9 w1ad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">(30<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x148e y5fb9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x148f y5fb9 w3bf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">(30)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5fba w706 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Experience adjustments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1490 y5fba w7f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa7 y5fba w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa8 y5fba w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1491 y5fba w392 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1492 y5fba wf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a5 y5fba wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1493 y5fba wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1494 y5fba wf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fbb w7f2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>e relatin<span class=\"_ _0\"></span>g to curre<span class=\"_ _0\"></span>nt ser<span class=\"_ _0\"></span>vice<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1495 y5fbb w392 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1496 y5fbb w265 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(58)</div></td><td class=\"c n x1497 y5fbb w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>63)</div></td><td class=\"c n x1498 y5fbb w49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>242)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1499 y5fbb wf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x149a y5fbb w1a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">(3<span class=\"_ _0\"></span>0)</div></td><td class=\"c n x149b y5fbb w76e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16<span class=\"_ _0\"></span>8)</div></td><td class=\"c n x149c y5fbb w20a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>171<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fbc w6cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x149d y5fbc w66 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>90)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x149e y5fbc wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x149f y5fbc w7f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a0 y5fbc we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x831 y5fbc w735 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>351<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a1 y5fbc w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10c4 y5fbc w37d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a2 y5fbc wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fbd w70a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11eb y5fbd w6d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">(93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a3 y5fbd w4ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a4 y5fbd w780 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">76<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a5 y5fbd w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a6 y5fbd w1dc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(61<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a7 y5fbd w37b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(49)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfc3 y5fbd w268 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">659<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a8 y5fbd wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5fbe ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that d<span class=\"_ _0\"></span>o not adjus<span class=\"_ _0\"></span>t </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fbf w3dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">the<span class=\"_ gs47\"> </span>CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xca6 y5fbf w6d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10b7 y5fbf w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a9 y5fbf w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14aa y5fbf w635 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ab y5fbf w220 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ac y5fbf wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ad y5fbf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ae y5fbf w1ae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5fc0 ff2 fs6 fc3 sc0 ls1 ws1\">Revers<span class=\"_ _0\"></span>al of impairme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s for reinsuran<span class=\"_ _0\"></span>ce </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fc1 w7f4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">acquisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106e y5fc1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14af y5fc1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b0 y5fc1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b1 y5fc1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b2 y5fc1 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b3 y5fc1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b4 y5fc1 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b5 y5fc1 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fc2 w7f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>e relatin<span class=\"_ _0\"></span>g to future s<span class=\"_ _0\"></span>erv<span class=\"_ _0\"></span>ice<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b6 y5fc2 w632 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(295<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b7 y5fc2 w6d6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b8 y5fc2 w7f6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b9 y5fc2 w71a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>3)</div></td><td class=\"c n x14ba y5fc2 w7f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>976)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14bb y5fc2 w70 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">187<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14bc y5fc2 w208 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">781<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14bd y5fc2 wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5fc3 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in amo<span class=\"_ _0\"></span>unts recove<span class=\"_ _0\"></span>rable arisin<span class=\"_ _0\"></span>g </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x2a6 hc y5fc4 ff2 fs6 fc3 sc0 ls1 ws1\">from<span class=\"_ gs47\"> </span>ch<span class=\"_ _0\"></span>anges in lia<span class=\"_ _0\"></span>bilities for inc<span class=\"_ _0\"></span>urred claims </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e62 w6d9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">(past service)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc1c y5e62 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdb y5e62 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdc y5e62 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x635 y5e62 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11a7 y5fc5 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14be y5fc5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14bf y5fc5 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c0 y5fc5 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5fc6 ff3 fs6 fc3 sc0 ls5f ws122\">Net (<span class=\"_ _2\"></span>expenses)/income from<span class=\"_ _2\"></span> reinsurance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5efb w7f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls20 ws22\">contracts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c1 y5efb w7f9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(31<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c2 y5efb w7fa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls177 ws186\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c3 y5efb w707 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>3)</div></td><td class=\"c n x14c4 y5efb w7fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)</div></td><td class=\"c n x14c5 y5efb w7fc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">(95<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c6 y5efb wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">157<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4a1 y5efb w53b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c7 y5efb w7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(180)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5efd w7fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance (expen<span class=\"_ _0\"></span>se)<span class=\"_ _2\"></span>/in<span class=\"_ _0\"></span>come<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c8 y5efd w7fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6d ws202\">(<span class=\"_ _2\"></span>130)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c9 y5efd w7ff h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ca y5efd w783 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14cb y5efd w800 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(109<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14cc y5efd wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14cd y5efd w5b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ce y5efd wc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14cf y5efd w67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5fc7 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal chang<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> in consolidated income </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5eff w801 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12 ws13\">statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d0 y5eff w5ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(44<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d1 y5eff w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d2 y5eff w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5a6 y5eff w301 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(354)</div></td><td class=\"c n x14d3 y5eff w631 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>79<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d4 y5eff wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d5 y5eff w5b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">6<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d6 y5eff w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5fc8 ff3 fs6 fc3 sc0 lsc wsb\">Cash flow<span class=\"_ _2\"></span>s:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fc9 w802 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s paid<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d7 y5fc9 w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,658<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107e y5fc9 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107f y5fc9 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x14d8 y5fc9 w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,658</div></td><td class=\"c n x14d9 y5fc9 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14da y5fc9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14db y5fc9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x14dc y5fc9 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>085<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fca w803 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims re<span class=\"_ _0\"></span>covered an<span class=\"_ _0\"></span>d other expe<span class=\"_ _0\"></span>nses pa<span class=\"_ _0\"></span>id<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14dd y5fca w804 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">(2<span class=\"_ _2\"></span>,000<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14de y5fca w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14df y5fca w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x14e0 y5fca w804 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">(<span class=\"_ _2\"></span>2,<span class=\"_ _2\"></span>000)</div></td><td class=\"c n x14e1 y5fca w805 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>280<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb2 y5fca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfb3 y5fca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x14e2 y5fca w805 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>280<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fcb w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14e3 y5fcb w158 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">658<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a8 y5fcb w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a9 y5fcb w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaee y5fcb w261 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">658<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14e4 y5fcb w5cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">805<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11d9 y5fcb wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14e5 y5fcb wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14e6 y5fcb w5cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">805<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5fcc w776 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x117d h11 y5da0 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfa6 y5fcd w806 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14e7 y5fcd w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14e8 y5fcd w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14e9 y5fcd w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)</div></td><td class=\"c n x14ea y5fcd w312 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14eb y5fcd w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1191 y5fcd w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>8)</div></td><td class=\"c n x14ec y5fcd w7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(139)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fce w7ec h25c\"><div class=\"t m0 x1cf h23 y5a89 ff3 fs6 fc3 sc0 ls1 ws1\">Net r<span class=\"_ _0\"></span>einsur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t ass<span class=\"_ _0\"></span>ets as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ed y5fce w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,<span class=\"_ _0\"></span>369<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ee y5fce w25a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">686</div></td><td class=\"c n x14ef y5fce w68e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>974</div></td><td class=\"c n x14f0 y5fce w60b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5,<span class=\"_ _0\"></span>029</div></td><td class=\"c n x14f1 y5fce w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2,<span class=\"_ _0\"></span>166<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14f2 y5fce w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">633</div></td><td class=\"c n x14f3 y5fce w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,930</div></td><td class=\"c n x14f4 y5fce w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5fcf ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities as at </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x1482 hc y5fd0 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5fd1 w807 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14f5 y5fd1 w808 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(252)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14f6 y5fd1 w51d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14f7 y5fd1 w5a0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12b ws3c\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14f8 y5fd1 w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>8)</div></td><td class=\"c n x14f9 y5fd1 w5fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14fa y5fd1 w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14fb y5fd1 w154 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls77 ws34\">60<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14fc y5fd1 w6ad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd2 w809 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s as at 31 Dec<span class=\"_ _0\"></span>ember</div></td><td class=\"c n x14fd y5fd2 w80a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">2,<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14fe y5fd2 w7c2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">652</div></td><td class=\"c n x14ff y5fd2 w80b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>914</div></td><td class=\"c n x1500 y5fd2 wf9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>87</div></td><td class=\"c n x1501 y5fd2 w80c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1502 y5fd2 w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">59<span class=\"_ _0\"></span>6</div></td><td class=\"c n x1503 y5fd2 w1a6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>,870</div></td><td class=\"c n x1504 y5fd2 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4<span class=\"_ _0\"></span>,876<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5fd3 w7ec h25c\"><div class=\"t m0 x1cf h23 y5a89 ff3 fs6 fc3 sc0 ls1 ws1\">Net r<span class=\"_ _0\"></span>einsur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t ass<span class=\"_ _0\"></span>ets as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1505 y5fd3 w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,<span class=\"_ _0\"></span>369<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1506 y5fd3 w25a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">686</div></td><td class=\"c n x1507 y5fd3 w68e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>974</div></td><td class=\"c n x1508 y5fd3 w60b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5,<span class=\"_ _0\"></span>029</div></td><td class=\"c n x1509 y5fd3 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2,<span class=\"_ _0\"></span>166<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1502 y5fd3 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">633</div></td><td class=\"c n x150a y5fd3 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,930</div></td><td class=\"c n x150b y5fd3 w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd4 w80d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Anal<span class=\"_ _0\"></span>ysed by se<span class=\"_ _0\"></span>gment as foll<span class=\"_ _0\"></span>ows:<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c n xd5e y5fd4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd5 w23d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x150c y5fd5 w80e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x150d y5fd5 w68b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">575</div></td><td class=\"c n x150e y5fd5 w68d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,694</div></td><td class=\"c n x150f y5fd5 w4b0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">3<span class=\"_ _0\"></span>,576<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1510 y5fd5 w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">9<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1511 y5fd5 w1c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>37</div></td><td class=\"c n x1512 y5fd5 w6ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,60<span class=\"_ _0\"></span>4</div></td><td class=\"c n x8f3 y5fd5 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">3,0<span class=\"_ _0\"></span>76<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd6 w23f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1513 y5fd6 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1514 y5fd6 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1515 y5fd6 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1516 y5fd6 w4c6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1517 y5fd6 w2a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1518 y5fd6 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b4 y5fd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x716 y5fd6 w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e0d w65e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1519 y5e0d w6de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">736<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x151a y5e0d w51d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x151b y5e0d w307 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x151c y5e0d w52c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">911<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x151d y5e0d w80f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">820<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x151e y5e0d w199 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x151f y5e0d w20c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>47</div></td><td class=\"c n x1520 y5e0d w5f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,0<span class=\"_ _2\"></span>13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5fd8 w7ec h26b\"><div class=\"t m0 x1cf hc y5fd7 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Net r<span class=\"_ _0\"></span>einsur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t ass<span class=\"_ _0\"></span>ets as at<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1521 y5e7a w2e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">322<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb5 y5e7a w810 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">76<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1522 y5e7a w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0e y5e7a w2a7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">5<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1523 y5e7a w6aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">391<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1524 y5e7a w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1525 y5e7a w67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1526 y5e7a w2cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w811 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1505 y5b4c w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">2,<span class=\"_ _0\"></span>369<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1506 y5b4c w25a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">686</div></td><td class=\"c n x1507 y5b4c w68e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>974</div></td><td class=\"c n x1508 y5b4c w60b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5,<span class=\"_ _0\"></span>029</div></td><td class=\"c n x1509 y5b4c w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2,<span class=\"_ _0\"></span>166<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1502 y5b4c w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">633</div></td><td class=\"c n x150a y5b4c w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,930</div></td><td class=\"c n x150b y5b4c w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>In 202<span class=\"_ _0\"></span>3 \u00a3(15<span class=\"_ _0\"></span>3) mill<span class=\"_ _0\"></span>ion rel<span class=\"_ _0\"></span>ates to th<span class=\"_ _0\"></span>e fair va<span class=\"_ _0\"></span>lue of ins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce con<span class=\"_ _0\"></span>trac<span class=\"_ _0\"></span>ts ac<span class=\"_ _0\"></span>quire<span class=\"_ _0\"></span>d as par<span class=\"_ _0\"></span>t of the a<span class=\"_ _0\"></span>cquis<span class=\"_ _0\"></span>ition of P<span class=\"_ _0\"></span>hoen<span class=\"_ _0\"></span>ix Life CA H<span class=\"_ _0\"></span>oldin<span class=\"_ _0\"></span>gs Limi<span class=\"_ _0\"></span>ted (form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imited<span class=\"_ _0\"></span>) (see n<span class=\"_ _0\"></span>ote H2).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInsuranceContractsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-589": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls6b ws169 gs70f\">F5. M<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>veme<span class=\"_ _0\"></span>nts in liabilities for rem<span class=\"_ _0\"></span>aining coverag<span class=\"_ _0\"></span>e and liabilities for inc<span class=\"_ _0\"></span>urred claims<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>or re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts held<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs710\">The follow<span class=\"_ _0\"></span>ing recon<span class=\"_ _0\"></span>ciliations sh<span class=\"_ _0\"></span>ow how the net c<span class=\"_ _0\"></span>arr<span class=\"_ _0\"></span>ying amount<span class=\"_ _0\"></span>s of reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts he<span class=\"_ _0\"></span>ld chang<span class=\"_ _0\"></span>ed over the yea<span class=\"_ _0\"></span>r as a result of ca<span class=\"_ _0\"></span>sh flows, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs711\">amo<span class=\"_ _0\"></span>unts reco<span class=\"_ _0\"></span>gnised in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment and oth<span class=\"_ _0\"></span>er movement<span class=\"_ _0\"></span>s, an<span class=\"_ _0\"></span>alysed by re<span class=\"_ _0\"></span>maining cover<span class=\"_ _0\"></span>age and in<span class=\"_ _0\"></span>curred cla<span class=\"_ _0\"></span>ims. </div><div class=\"gs712\"><table class=\"s w812 h26c\" id=\"_90a2a99d-2505-40a4-b707-b42b92c516ba\"><tr><td></td><td></td><td class=\"c n xbfa y5fd9 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xf68 y5fd9 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c n x1527 y5fda w813 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls9e ws9a\">Assets fo<span class=\"_ _2\"></span>r remaining<span class=\"_ _2\"></span> coverage<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n x1528 y5fda w814 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls54 ws7f\">Assets<span class=\"_ _2\"></span> for remai<span class=\"_ _2\"></span>ning cove<span class=\"_ _2\"></span>rage<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x3b7 h29 y5fdb ff3 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">Ex<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing lo<span class=\"_ _0\"></span>ss </td><td class=\"t m0 xa31 h29 y5fdb ff3 fs5 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s for </td><td></td><td class=\"t m0 x606 ha y5fdb ff2 fs5 fc3 sc0 ls1 ws1\" colspan=\"2\">Ex<span class=\"_ _0\"></span>cludi<span class=\"_ _0\"></span>ng los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x86b ha y5fdb ff2 fs5 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>sets f<span class=\"_ _0\"></span>or </td><td></td></tr><tr><td></td><td class=\"t m0 x1529 h29 y5fdc ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td class=\"t m0 x152a h29 y5fdc ff3 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 x48c h29 y5fdc ff3 fs5 fc3 sc0 ls65 wsc0\">incurred </td><td></td><td class=\"t m0 xe3e ha y5fdc ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 x152b ha y5fdc ff2 fs5 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s reco<span class=\"_ _0\"></span>very </td><td class=\"t m0 x497 ha y5fdc ff2 fs5 fc3 sc0 ls21 ws23\">incurre<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xa2d h29 y5fdd ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa10 h29 y5fdd ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1253 h29 y5fdd ff3 fs5 fc3 sc0 ls8d ws86\">claims<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfd h29 y5fdd ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa13 ha y5fdd ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 ha y5fdd ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b1 ha y5fdd ff2 fs5 fc3 sc0 ls11 ws11\">claims<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y5fdd ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2db h29 y5fde ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 h29 y5fde ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y5fde ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y5fde ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y5fde ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y5fde ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y5fde ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y5fde ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5fdf w7e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract lia<span class=\"_ _0\"></span>bilities as at 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x146b y5fdf w815 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(1<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x152c y5fdf w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x152d y5fdf w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x152e y5fdf w2e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(1<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x152f y5fdf w38c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1530 y5fdf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1531 y5fdf wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1532 y5fdf w38c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5fe0 w7e9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s as at 1 Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1533 y5fe0 w4fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1534 y5fe0 w6d1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37</div></td><td class=\"c n x1535 y5fe0 w721 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(2<span class=\"_ _0\"></span>,308)</div></td><td class=\"c n x1536 y5fe0 w691 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>,876</div></td><td class=\"c n x1537 y5fe0 w15e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">6<span class=\"_ _1\"></span>,70<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1538 y5fe0 w31f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47</div></td><td class=\"c n x1539 y5fe0 w73e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>681<span class=\"_ _0\"></span>)</div></td><td class=\"c n x153a y5fe0 w64d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>71<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fe1 w7ec h25f\"><div class=\"t m0 x1cf h23 y5a82 ff3 fs6 fc3 sc0 ls1 ws1\">Net r<span class=\"_ _0\"></span>einsur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t ass<span class=\"_ _0\"></span>ets as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">1 January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x153b y5fe1 w816 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">6,9<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x153c y5fe1 w6d1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37</div></td><td class=\"c n x153d y5fe1 w279 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(2,<span class=\"_ _0\"></span>30<span class=\"_ _0\"></span>3)</div></td><td class=\"c n x1476 y5fe1 w172 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls143 ws14f\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>29</div></td><td class=\"c n x153e y5fe1 w817 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls144 ws150\">6,698<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x153f y5fe1 w2c2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">47</div></td><td class=\"c n x1540 y5fe1 w818 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(2<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>81<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1541 y5fe1 w4b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,06<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5fe2 w819 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Reinsu<span class=\"_ _2\"></span>rance expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1542 y5fe2 w5fe h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>2,5<span class=\"_ _0\"></span>04)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe7b y5fe2 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe5b y5fe2 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1543 y5fe2 w8c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(2<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>04)</div></td><td class=\"c n x1544 y5fe2 w81a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,<span class=\"_ _0\"></span>349)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1545 y5fe2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1546 y5fe2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1547 y5fe2 w32b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,349)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fe3 w81b h202\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls1 ws1\">Claims re<span class=\"_ _0\"></span>coverabl<span class=\"_ _0\"></span>e and other<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">expe<span class=\"_ _0\"></span>nses<span class=\"_ gs47\"> </span>inc<span class=\"_ _0\"></span>urred<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1548 y5fe3 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x114b y5fe3 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1549 y5fe3 w81c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">2,<span class=\"_ _0\"></span>267</div></td><td class=\"c n x154a y5fe3 w5c4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x154b y5fe3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x154c y5fe3 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x154d y5fe3 w121 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">2<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>81</div></td><td class=\"c n x154e y5fe3 w1a0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">2<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>81<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fe5 w81d h26d\"><div class=\"t m0 x1cf hc y5fe4 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in the C<span class=\"_ _0\"></span>SM due to rec<span class=\"_ _0\"></span>ognition a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a82 ff2 fs6 fc3 sc0 ls1 ws1\">revers<span class=\"_ _0\"></span>al of a loss<span class=\"_ _0\"></span>-recover<span class=\"_ _0\"></span>y compo<span class=\"_ _0\"></span>nent from<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">onero<span class=\"_ _0\"></span>us underl<span class=\"_ _0\"></span>ying contra<span class=\"_ _0\"></span>cts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x154f y5fe5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1550 y5fe5 w6c5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1551 y5fe5 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1552 y5fe5 w71a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1553 y5fe5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1554 y5fe5 w1b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1555 y5fe5 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1556 y5fe5 w1ae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y5fe6 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges to as<span class=\"_ _0\"></span>sets for inc<span class=\"_ _0\"></span>urred claim<span class=\"_ _0\"></span>s </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5fe7 w78e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">(pas<span class=\"_ _0\"></span>t<span class=\"_ gs47\"> </span>ser<span class=\"_ _0\"></span>vice)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a0 y5fe7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a1 y5fe7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1557 y5fe7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1558 y5fe7 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1559 y5fe7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x155a y5fe7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x155b y5fe7 w1b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x155c y5fe7 w20d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5fe8 ff2 fs6 fc3 sc0 ls1 ws1\">Cos<span class=\"_ _0\"></span>t of retroac<span class=\"_ _0\"></span>tive cover on reinsur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fe9 w81e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">contracts held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x155d y5fe9 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x155e y5fe9 w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131a y5fe9 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x155f y5fe9 w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd54 y5fe9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1560 y5fe9 w5b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1561 y5fe9 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1562 y5fe9 w5b0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5fea ff2 fs6 fc3 sc0 ls1 ws1\">Revers<span class=\"_ _0\"></span>al of impairme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s for insuranc<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5feb w7f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">acquisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106e y5feb w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14af y5feb w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b0 y5feb w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b1 y5feb w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b2 y5feb w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b3 y5feb wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b4 y5feb wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b5 y5feb w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5fec ff3 fs6 fc3 sc0 ls10 ws10\">Net (<span class=\"_ _2\"></span>expense<span class=\"_ _2\"></span>)/<span class=\"_ _2\"></span>income fro<span class=\"_ _2\"></span>m reinsura<span class=\"_ _2\"></span>nce </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5efb w122 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">contracts held<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1563 y5efb w81f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>2,5<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1564 y5efb w767 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)</div></td><td class=\"c n x1565 y5efb w1c0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">2,<span class=\"_ _0\"></span>267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1566 y5efb w614 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>245<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1567 y5efb w820 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1568 y5efb w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)</div></td><td class=\"c n x1569 y5efb w821 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,180<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x156a y5efb w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>80)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fed w7fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance fin<span class=\"_ _0\"></span>ance (expen<span class=\"_ _0\"></span>se)<span class=\"_ _2\"></span>/in<span class=\"_ _0\"></span>come<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x156b y5fed w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>94)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x156c y5fed w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x156d y5fed w822 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)</div></td><td class=\"c n x156e y5fed w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x156f y5fed w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">179<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1570 y5fed wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1571 y5fed wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1572 y5fed w67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5fee ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>hang<span class=\"_ _0\"></span>es in the co<span class=\"_ _0\"></span>nsolid<span class=\"_ _0\"></span>ated </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fef w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1573 y5fef w2f2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,598)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1574 y5fef w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)</div></td><td class=\"c n x1575 y5fef w2b3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">2,<span class=\"_ _0\"></span>251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14c4 y5fef w823 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(35<span class=\"_ _0\"></span>4)</div></td><td class=\"c n x1576 y5fef w3fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>2,168)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1577 y5fef w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>13)</div></td><td class=\"c n x1578 y5fef w821 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">2,180<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1579 y5fef w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ff0 w794 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Inv<span class=\"_ _2\"></span>es<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ment components<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b0 y5ff0 w5a4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(126<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x157a y5ff0 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x157b y5ff0 w28a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">126<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x157c y5ff0 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb50 y5ff0 w824 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(35<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x157d y5ff0 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x157e y5ff0 w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x157f y5ff0 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y5ff1 ff3 fs6 fc3 sc0 lsc wsb\">Cash flow<span class=\"_ _2\"></span>s:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ff2 w802 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Premium<span class=\"_ _0\"></span>s paid<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14d7 y5ff2 w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,658<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107e y5ff2 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x107f y5ff2 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x14d8 y5ff2 w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,658</div></td><td class=\"c n x14d9 y5ff2 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14da y5ff2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14db y5ff2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x14dc y5ff2 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>085<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fca w803 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Claims re<span class=\"_ _0\"></span>covered an<span class=\"_ _0\"></span>d other expe<span class=\"_ _0\"></span>nses pa<span class=\"_ _0\"></span>id<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1580 y5fca w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1581 y5fca w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1582 y5fca w804 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">(2<span class=\"_ _2\"></span>,000<span class=\"_ _2\"></span>)</div></td><td class=\"c n x1583 y5fca w804 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">(<span class=\"_ _2\"></span>2,<span class=\"_ _2\"></span>000)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1584 y5fca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd2f y5fca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1585 y5fca w805 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>280<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1586 y5fca w805 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,28<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ff3 w6ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal c<span class=\"_ _0\"></span>ash flow<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x144d y5ff3 w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,658<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1313 y5ff3 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1587 y5ff3 w804 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">(2<span class=\"_ _2\"></span>,000<span class=\"_ _2\"></span>)</div></td><td class=\"c n x1588 y5ff3 w261 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">658</div></td><td class=\"c n x14d9 y5ff3 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,<span class=\"_ _0\"></span>085<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14da y5ff3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1589 y5ff3 w805 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,28<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x158a y5ff3 w5cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">805<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5ff5 w776 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x117d h11 y5ff4 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xbf3 y5fcd waf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x158b y5fcd w825 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x158c y5fcd w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x158d y5fcd w71a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>4)</div></td><td class=\"c n x158e y5fcd w826 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">(585<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x158f y5fcd wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1590 y5fcd w557 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">4<span class=\"_ _0\"></span>43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1591 y5fcd w827 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(139)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fce w828 h204\"><div class=\"t m0 x1cf hc y5a89 ff2 fs6 fc3 sc0 ls1 ws1\">Net rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t asset<span class=\"_ _0\"></span>s as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1592 y5fce w258 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">6,<span class=\"_ _0\"></span>913<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1593 y5fce w51b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls77 ws34\">40</div></td><td class=\"c n x1594 y5fce w76f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>24)</div></td><td class=\"c n x1595 y5fce w60b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5,0<span class=\"_ _0\"></span>29</div></td><td class=\"c n x1596 y5fce w829 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">6,<span class=\"_ _0\"></span>995<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1597 y5fce w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37</div></td><td class=\"c n x1598 y5fce w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,3<span class=\"_ _0\"></span>03)</div></td><td class=\"c n x1599 y5fce w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y5ff6 ff2 fs6 fc3 sc0 ls17f ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract li<span class=\"_ _0\"></span>abilities as at<span class=\"_ _0\"></span> </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x1482 hc y5ff7 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5fd1 w82a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws13\">3<span class=\"_ _4\"></span>1 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x159a y5fd1 w6d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(16<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x159b y5fd1 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x159c y5fd1 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x159d y5fd1 w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>58)</div></td><td class=\"c n x159e y5fd1 w82b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>152)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1207 y5fd1 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x159f y5fd1 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15a0 y5fd1 w6ad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd2 w809 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s as at 31 Dec<span class=\"_ _0\"></span>ember</div></td><td class=\"c n x15a1 y5fd2 w4fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _1\"></span>07<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15a2 y5fd2 w51b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls77 ws34\">40</div></td><td class=\"c n x153d y5fd2 w82c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,929)</div></td><td class=\"c n x15a3 y5fd2 w53a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>87</div></td><td class=\"c n x15a4 y5fd2 w800 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14cd y5fd2 w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37</div></td><td class=\"c n x15a5 y5fd2 w82d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(2,<span class=\"_ _0\"></span>308)</div></td><td class=\"c n x15a6 y5fd2 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">4<span class=\"_ _0\"></span>,876<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y5fd3 w7ec h26e\"><div class=\"t m0 x1cf h23 y5a8b ff3 fs6 fc3 sc0 ls1 ws1\">Net r<span class=\"_ _0\"></span>einsur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t ass<span class=\"_ _0\"></span>ets as at<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14ed y5fd3 w168 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">6<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15a7 y5fd3 w51b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls77 ws34\">40</div></td><td class=\"c n x15a8 y5fd3 w76f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(1<span class=\"_ _1\"></span>,9<span class=\"_ _0\"></span>24)</div></td><td class=\"c n x15a9 y5fd3 w60b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5,0<span class=\"_ _0\"></span>29</div></td><td class=\"c n x1537 y5fd3 w82e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">6,9<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15aa y5fd3 w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37</div></td><td class=\"c n x15ab y5fd3 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,3<span class=\"_ _0\"></span>03)</div></td><td class=\"c n x459 y5fd3 w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd4 w80d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Anal<span class=\"_ _0\"></span>ysed by se<span class=\"_ _0\"></span>gment as foll<span class=\"_ _0\"></span>ows:<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c n xd5e y5fd4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd5 w23d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ac y5fd5 w7ad h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">5,5<span class=\"_ _0\"></span>43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ad y5fd5 w25c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25</div></td><td class=\"c n xdec y5fd5 w82f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>92)</div></td><td class=\"c n x15ae y5fd5 w41d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">3,<span class=\"_ _0\"></span>576</div></td><td class=\"c n x15af y5fd5 w830 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">5,<span class=\"_ _0\"></span>421<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b0 y5fd5 w2d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36</div></td><td class=\"c n xd43 y5fd5 w73e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(<span class=\"_ _0\"></span>2,<span class=\"_ _0\"></span>381<span class=\"_ _0\"></span>)</div></td><td class=\"c n x15b1 y5fd5 wfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">3,<span class=\"_ _0\"></span>076<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5fd6 w23f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1513 y5fd6 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfdb y5fd6 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b2 y5fd6 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b3 y5fd6 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b4 y5fd6 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b5 y5fd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b6 y5fd6 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b7 y5fd6 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e0d w242 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b8 y5e0d w249 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b9 y5e0d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xeb6 y5e0d w831 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ba y5e0d w2cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bb y5e0d w557 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">98<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bc y5e0d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bd y5e0d w602 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">29</div></td><td class=\"c n x15be y5e0d w45e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">1<span class=\"_ _0\"></span>,013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5fd8 w7ec h26b\"><div class=\"t m0 x1cf hc y5fd7 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Net r<span class=\"_ _0\"></span>einsur<span class=\"_ _0\"></span>ance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>t ass<span class=\"_ _0\"></span>ets as at<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bf y5e7a w832 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">484<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa70 y5e7a w763 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15c0 y5e7a w831 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15c1 y5e7a w2a7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">5<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15c2 y5e7a w3c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">584<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15c3 y5e7a wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15c4 y5e7a w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15c5 y5e7a w53b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w811 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls12 ws13\">31 December<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1505 y5b4c w168 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">6<span class=\"_ _0\"></span>,91<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15c6 y5b4c w51b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls77 ws34\">40</div></td><td class=\"c n x15c7 y5b4c w76f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(1<span class=\"_ _1\"></span>,9<span class=\"_ _0\"></span>24)</div></td><td class=\"c n x15c8 y5b4c w60b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">5,0<span class=\"_ _0\"></span>29</div></td><td class=\"c n x15c9 y5b4c w82e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">6,9<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ca y5b4c w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37</div></td><td class=\"c n x15cb y5b4c w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,3<span class=\"_ _0\"></span>03)</div></td><td class=\"c n x15cc y5b4c w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>29<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs713\">1 <span class=\"_ _9\"> </span>In 202<span class=\"_ _0\"></span>3 \u00a3(15<span class=\"_ _0\"></span>3) mill<span class=\"_ _0\"></span>ion rel<span class=\"_ _0\"></span>ates to th<span class=\"_ _0\"></span>e fair va<span class=\"_ _0\"></span>lue of ins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce con<span class=\"_ _0\"></span>trac<span class=\"_ _0\"></span>ts ac<span class=\"_ _0\"></span>quire<span class=\"_ _0\"></span>d as par<span class=\"_ _0\"></span>t of the a<span class=\"_ _0\"></span>cquis<span class=\"_ _0\"></span>ition of P<span class=\"_ _0\"></span>hoen<span class=\"_ _0\"></span>ix Life CA H<span class=\"_ _0\"></span>oldin<span class=\"_ _0\"></span>gs Limi<span class=\"_ _0\"></span>ted (form<span class=\"_ _0\"></span>erly k<span class=\"_ _0\"></span>nown as S<span class=\"_ _0\"></span>LF of Ca<span class=\"_ _0\"></span>nda UK L<span class=\"_ _0\"></span>imited<span class=\"_ _0\"></span>) (see n<span class=\"_ _0\"></span>ote H2).</div>",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfMovementsInLiabilitiesForRemainingCoverageAndLiabilities",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-590": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs715\">F6. Th<span class=\"_ _0\"></span>e impact on the c<span class=\"_ _0\"></span>urrent period of trans<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>io<span class=\"_ _0\"></span>n approaches a<span class=\"_ _0\"></span>dopted in est<span class=\"_ _0\"></span>ablishing CS<span class=\"_ _0\"></span>Ms<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs716\">The imp<span class=\"_ _0\"></span>act on the c<span class=\"_ _0\"></span>urrent peri<span class=\"_ _0\"></span>od of the transi<span class=\"_ _0\"></span>tion approa<span class=\"_ _0\"></span>ches ado<span class=\"_ _0\"></span>pted in est<span class=\"_ _0\"></span>ablishing C<span class=\"_ _0\"></span>SMs for ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s issu<span class=\"_ _0\"></span>ed and reins<span class=\"_ _0\"></span>urance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs717\">contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld is shown in th<span class=\"_ _0\"></span>e tables b<span class=\"_ _0\"></span>elow. For furt<span class=\"_ _0\"></span>her detail<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e transitio<span class=\"_ _0\"></span>n approach<span class=\"_ _0\"></span>es applie<span class=\"_ _0\"></span>d see note A<span class=\"_ _0\"></span>2.<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>.1.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs718\">F6.1. Insurance contracts<span class=\"_ _3bd\"> </span></div><div class=\"gs719\"><table class=\"s w833 h26f\" id=\"_9ae888b3-a737-4094-a1b7-cdcc7ac67592\"><tr><td></td><td></td><td class=\"c n x15cd y5ff8 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c x15d0 y5ff8 w834 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsa4 ws9f\">2023 (re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>ted</div><div class=\"t m0 x15ce h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 x15cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x15d1 h29 y5ff9 ff3 fs5 fc3 sc0 ls1 ws1\">Full<span class=\"_ _0\"></span>y retr<span class=\"_ _0\"></span>ospe<span class=\"_ _0\"></span>ctiv<span class=\"_ _0\"></span>e </td><td></td><td></td><td class=\"t m0 x7a6 ha y5ff9 ff2 fs5 fc3 sc0 ls21 ws23\">Fully retrospe<span class=\"_ _0\"></span>ctive </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x15d2 h29 y5ffa ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td></td><td></td><td class=\"t m0 x15d3 ha y5ffa ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td></td></tr><tr><td></td><td class=\"t m0 xe7f h29 y5ffb ff3 fs5 fc3 sc0 lsbe wsbe\">Fair<span class=\"_ _2\"></span> value approach </td><td class=\"t m0 x15d1 h29 y5ffb ff3 fs5 fc3 sc0 ls1 ws1\">tr<span class=\"_ _0\"></span>ansit<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d new </td><td></td><td class=\"t m0 x59b ha y5ffb ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> approach </td><td class=\"t m0 x15d4 ha y5ffb ff2 fs5 fc3 sc0 ls11 ws11\">transition and new </td><td></td></tr><tr><td></td><td class=\"t m0 x15d5 h29 y5ffc ff3 fs5 fc3 sc0 ls22 ws24\">at transition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x554 h29 y5ffc ff3 fs5 fc3 sc0 ls10c ws10d\">contracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a1 h29 y5ffc ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xac0 ha y5ffc ff2 fs5 fc3 sc0 ls22 ws24\">at transition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x15d6 ha y5ffc ff2 fs5 fc3 sc0 ls1ee ws20d\">cont<span class=\"_ _2\"></span>racts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y5ffc ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y5ffd ff3 fs5 fc3 sc0 ls22 ws24\">Retirement So<span class=\"_ _0\"></span>lutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x15d7 h29 y5ffd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y5ffd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y5ffd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y5ffd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y5ffd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y5ffd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ffe w835 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15d8 y5ffe w7ed h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,162<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15d9 y5ffe w81c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">2,<span class=\"_ _0\"></span>579<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15da y5ffe w836 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">3<span class=\"_ _0\"></span>,741<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15db y5ffe w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15dc y5ffe w64d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15dd y5ffe w148 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5fff w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15de y5fff w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15df y5fff w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e0 y5fff wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e1 y5fff wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e2 y5fff wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e3 y5fff wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6000 w837 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 1 Janu<span class=\"_ _0\"></span>ary (re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e4 y6000 w7ed h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,162<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e5 y6000 w1ee h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,587<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e6 y6000 w170 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e7 y6000 w221 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e8 y6000 w64d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15e9 y6000 w6b5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">2<span class=\"_ _0\"></span>,821<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y6001 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o current s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6002 w6be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ea y6002 w838 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>107<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15eb y6002 w839 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>171<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ec y6002 w27d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ed y6002 w1ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>03)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ee y6002 w76e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(157<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ef y6002 w6c0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y6003 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6004 w6cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f0 y6004 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ab y6004 w2fb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">360<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f1 y6004 w215 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f2 y6004 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f3 y6004 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f4 y6004 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6005 w83a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM</div><div class=\"t m0 x15f5 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f6 y6005 w59b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">115<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f7 y6005 w83b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">(49<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f8 y6005 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f9 y6005 w7bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4<span class=\"_ _0\"></span>38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15fa y6005 w2d8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">228<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15fb y6005 w169 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">666<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6006 w4b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> service resul<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15fc y6006 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15fd y6006 w41a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15fe y6006 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">148<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15ff y6006 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">3<span class=\"_ _0\"></span>35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1600 y6006 w83c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1601 y6006 w4da h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">8<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6007 w83d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Insurance finance expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1602 y6007 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1603 y6007 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">77<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y6007 w116 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">103<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1604 y6007 w390 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1605 y6007 w98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15b7 y6007 w225 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">62<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y5b68 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal chang<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> in consolidated </td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6008 w6e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1606 y6008 w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1607 y6008 w5ac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">217<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1608 y6008 w249 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">251<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1609 y6008 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">35<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x160a y6008 w24a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">55<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x932 y6008 w6e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lscd ws1d4\">9<span class=\"_ _0\"></span>03<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w83e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x160b y5b43 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x160c y5b43 w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x160d y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x160e y5b43 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x160f y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa76 y5b43 w2c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5b44 w4a1 h270\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 31 De<span class=\"_ _0\"></span>cembe</div><div class=\"t m0 x947 h11 y5e41 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1610 y5b4c w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,199<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1611 y5b4c w61e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">2,<span class=\"_ _0\"></span>801<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1612 y5b4c w83f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d ws1f\">4<span class=\"_ _4\"></span>,000<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1613 y5b4c w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,162<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1614 y5b4c w840 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,587<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1615 y5b4c w6f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs71a\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs71b\"><table class=\"s w841 h271\" id=\"_4f84d95f-97d9-45d5-a9d4-6868c53c01b5\"><tr><td></td><td></td><td class=\"c n x15cd y6009 w56b h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1616 y6009 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x15d1 h29 y600a ff3 fs5 fc3 sc0 ls1 ws1\">Full<span class=\"_ _0\"></span>y retr<span class=\"_ _0\"></span>ospe<span class=\"_ _0\"></span>ctiv<span class=\"_ _0\"></span>e </td><td></td><td></td><td class=\"t m0 x7a6 ha y600a ff2 fs5 fc3 sc0 ls21 ws23\">Fully retrospe<span class=\"_ _0\"></span>ctive </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x15d2 h29 y600b ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td></td><td></td><td class=\"t m0 x15d3 ha y600b ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td></td></tr><tr><td></td><td class=\"t m0 xe7f h29 y600c ff3 fs5 fc3 sc0 lsbe wsbe\">Fair<span class=\"_ _2\"></span> value approach </td><td class=\"t m0 x15d1 h29 y600c ff3 fs5 fc3 sc0 ls1 ws1\">tr<span class=\"_ _0\"></span>ansit<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d new </td><td></td><td class=\"t m0 x59b ha y600c ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> approach </td><td class=\"t m0 x15d4 ha y600c ff2 fs5 fc3 sc0 ls11 ws11\">transition and new </td><td></td></tr><tr><td></td><td class=\"t m0 x15d5 h29 y600d ff3 fs5 fc3 sc0 ls22 ws24\">at transition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x554 h29 y600d ff3 fs5 fc3 sc0 ls10c ws10d\">contracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a1 h29 y600d ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xac0 ha y600d ff2 fs5 fc3 sc0 ls22 ws24\">at transition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x15d6 ha y600d ff2 fs5 fc3 sc0 ls1ee ws20d\">cont<span class=\"_ _2\"></span>racts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y600d ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y600e ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x15d7 h29 y600e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y600e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y600e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y600e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y600e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y600e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y600f w842 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1617 y600f w2fe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">129<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1618 y600f w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1619 y600f w55d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">201<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x161a y600f w700 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x161b y600f wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x161c y600f w700 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">94<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y6010 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o current s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6011 w6be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x161d y6011 w843 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x161e y6011 w190 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x161f y6011 wbb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(36)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1620 y6011 w220 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1621 y6011 wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1622 y6011 w705 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y6012 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6013 w6cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15f0 y6013 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1623 y6013 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1624 y6013 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1625 y6013 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1626 y6013 w9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70b y6013 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b79 w70a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1627 y5b79 w98 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1628 y5b79 w513 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls69 ws18a\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1629 y5b79 w12c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x162a y5b79 w79f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x162b y5b79 w5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x162c y5b79 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6014 w4b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> service resul<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x419 y6014 w178 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x162d y6014 w6d2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x162e y6014 w2aa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x162f y6014 w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1630 y6014 w25c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ce ws1e7\">76<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x754 y6014 w179 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b7b w844 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> finance inco<span class=\"_ _2\"></span>me<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1631 y5b7b w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1632 y5b7b w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1633 y5b7b w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x636 y5b7b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5e9 y5b7b w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1634 y5b7b w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y6015 ff3 fs6 fc3 sc0 ls5f ws122\">T<span class=\"_ _4\"></span>otal chang<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span> in consolidated </td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a29 w6e3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">income<span class=\"_ _2\"></span><span class=\"_ gs6e7\"> </span>statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1606 y5a29 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1635 y5a29 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1636 y5a29 w521 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e4 ws200\">71<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1637 y5a29 w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1638 y5a29 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xae0 y5a29 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">109<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w83e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1639 y5b25 w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x163a y5b25 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x163b y5b25 w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x163c y5b25 w299 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x163d y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x163e y5b25 w299 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w845 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x163f y5a16 w594 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">181<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1640 y5a16 w51d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">88<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1641 y5a16 w1a4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1642 y5a16 w14f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">129<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1643 y5a16 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1644 y5a16 w846 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">201<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs52c\"><table class=\"s w847 h272\" id=\"_e922885b-0a71-401d-84d5-cad8ff89770f\"><tr><td></td><td></td><td class=\"c n x1645 y6016 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c x1648 y6016 w848 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsa4 ws9f\">202<span class=\"_ _0\"></span>3 (res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1646 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 x1647 ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xae2 h29 y6017 ff3 fs5 fc3 sc0 ls1 ws1\">Full<span class=\"_ _0\"></span>y </td><td></td><td></td><td class=\"t m0 xb78 ha y6017 ff2 fs5 fc3 sc0 ls21 ws23\">Fully </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x1649 h29 y6018 ff3 fs5 fc3 sc0 lsa8 wsa3\">retrospective </td><td></td><td></td><td class=\"t m0 x7c7 ha y6018 ff2 fs5 fc3 sc0 ls22 ws24\">retrospective </td><td></td></tr><tr><td></td><td class=\"t m0 x675 h29 y6019 ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value </td><td class=\"t m0 x164a h29 y6019 ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td></td><td class=\"t m0 xb01 ha y6019 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> </td><td class=\"t m0 x729 ha y6019 ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td></td></tr><tr><td></td><td class=\"t m0 x164b h29 y601a ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td class=\"t m0 x677 h29 y601a ff3 fs5 fc3 sc0 ls1 ws1\">tr<span class=\"_ _0\"></span>ansit<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d </td><td></td><td class=\"t m0 x7c5 ha y601a ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td class=\"t m0 x7c7 ha y601a ff2 fs5 fc3 sc0 ls11 ws11\">transition and </td><td></td></tr><tr><td></td><td class=\"t m0 x675 h29 y601b ff3 fs5 fc3 sc0 ls22 ws24\">transitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x164c h29 y601b ff3 fs5 fc3 sc0 ls10c ws10d\">new con<span class=\"_ _2\"></span>tracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7a5 h29 y601b ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x164d ha y601b ff2 fs5 fc3 sc0 ls22 ws24\">transition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x783 ha y601b ff2 fs5 fc3 sc0 ls11 ws11\">new contracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y601b ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y601c ff3 fs5 fc3 sc0 ls4e ws48\">With-Pr<span class=\"_ _0\"></span>ofits<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x164e h29 y601c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x164f h29 y601c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x57d h29 y601c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x246 ha y601c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5db ha y601c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y601c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y601d w835 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1650 y601d w50a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">525<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1651 y601d w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1652 y601d w24e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1653 y601d w849 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1654 y601d w2d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1655 y601d w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">565<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y601e w16c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atements</div><div class=\"t m0 x30f h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1656 y601e w767 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1657 y601e w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1658 y601e w1e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1659 y601e w7e8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x165a y601e w38c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y601f w837 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 1 Janu<span class=\"_ _0\"></span>ary (re<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x165b y601f w5ac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">517<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x165c y601f w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x165d y601f w158 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">589<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x165e y601f w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">5<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x165f y601f w2d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1660 y601f w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">558<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y6020 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o current s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6021 w6be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1661 y6021 w707 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1662 y6021 w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1663 y6021 w84a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _1\"></span>74)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1664 y6021 w84b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1665 y6021 wc1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1666 y6021 w314 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">(77<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y6022 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c56 w70a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1667 y5c56 w6dd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls177 ws186\">84<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1668 y5c56 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1669 y5c56 wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">110<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x166a y5c56 w4d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">90<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x166b y5c56 w602 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x166c y5c56 wbd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">119<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6023 w4b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> service resul<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x166d y6023 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x166e y6023 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x166f y6023 w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4ec y6023 wac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1670 y6023 wac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1671 y6023 w345 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6024 w83d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Insurance finance expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1672 y6024 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1673 y6024 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1674 y6024 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1675 y6024 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1676 y6024 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1677 y6024 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c5b w84c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal changes<span class=\"_ _2\"></span> in consol<span class=\"_ _2\"></span>idated i<span class=\"_ _2\"></span>ncome statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1678 y5c5b w19f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1679 y5c5b w4ef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x167a y5c5b w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x167b y5c5b w7d3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6c ws1ca\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x167c y5c5b w1b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2ab y5c5b w267 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5c07 w719 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements</div><div class=\"t m0 x101b h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x167d y5c07 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x167e y5c07 w381 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x167f y5c07 w84d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1680 y5c07 w1aa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1681 y5c07 w20d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1682 y5c07 w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a16 w4a1 h270\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 31 De<span class=\"_ _0\"></span>cembe</div><div class=\"t m0 x947 h11 y5e41 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1683 y5cf8 w92 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">5<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1684 y5cf8 w84e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">86<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1685 y5cf8 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">633<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1686 y5cf8 w2d6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">517<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1687 y5cf8 w1b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1688 y5cf8 w268 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">589<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs71d\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff3 fs5 fc3 sc0 lsa4 ws9f gs71e\">2024<span class=\"_ _2de\"> </span><span class=\"ff2 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></span></div><div class=\"gs71f\"><table class=\"s w84f h273\" id=\"_6aafd864-af8e-4860-954c-927fcbea98f1\"><tr><td></td><td></td><td class=\"t m0 x2f5 h29 y6025 ff3 fs5 fc3 sc0 ls1 ws1\">Full<span class=\"_ _0\"></span>y </td><td></td><td></td><td class=\"t m0 x2ee ha y6025 ff2 fs5 fc3 sc0 ls21 ws23\">Fully </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xc6f h29 y6026 ff3 fs5 fc3 sc0 lsa8 wsa3\">retrospective </td><td></td><td></td><td class=\"t m0 x3be ha y6026 ff2 fs5 fc3 sc0 ls22 ws24\">retrospective </td><td></td></tr><tr><td></td><td class=\"t m0 xf6c h29 y6027 ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value </td><td class=\"t m0 xbfe h29 y6027 ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td></td><td class=\"t m0 x1689 ha y6027 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> </td><td class=\"t m0 x970 ha y6027 ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td></td></tr><tr><td></td><td class=\"t m0 x2f3 h29 y6028 ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td class=\"t m0 x1253 h29 y6028 ff3 fs5 fc3 sc0 ls1 ws1\">tr<span class=\"_ _0\"></span>ansit<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d </td><td></td><td class=\"t m0 x48d ha y6028 ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td class=\"t m0 x3be ha y6028 ff2 fs5 fc3 sc0 ls11 ws11\">transition and </td><td></td></tr><tr><td></td><td class=\"t m0 xf6c h29 y6029 ff3 fs5 fc3 sc0 ls22 ws24\">transitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x168a h29 y6029 ff3 fs5 fc3 sc0 ls10c ws10d\">new con<span class=\"_ _2\"></span>tracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbff h29 y6029 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x152b ha y6029 ff2 fs5 fc3 sc0 ls22 ws24\">transition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x917 ha y6029 ff2 fs5 fc3 sc0 ls11 ws11\">new contracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y6029 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y602a ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x499 h29 y602a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae h29 y602a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y602a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 ha y602a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c ha y602a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y602a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y602b w842 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x168b y602b w6de h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">169<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x168c y602b w810 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x168d y602b wca h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x168e y602b w120 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6c ws1ca\">306<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x168f y602b w12c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">113<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1690 y602b w4da h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y602c ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o current s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y602d w6be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es provided<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1691 y602d w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>26)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1692 y602d w331 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(30<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1693 y602d w619 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1694 y602d w6c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1695 y602d w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(20)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1696 y602d w75f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y602e ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y602f w6cc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1697 y602f w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1698 y602f w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1699 y602f w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x169a y602f wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x169b y602f w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">53<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x169c y602f w9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">53<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6030 w850 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates tha<span class=\"_ _0\"></span>t adjus<span class=\"_ _0\"></span>t the CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x169d y6030 w373 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x169e y6030 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x169f y6030 w98 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a0 y6030 w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(85)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a1 y6030 w61c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(58)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a2 y6030 w612 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(143)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6031 w4b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> service resul<span class=\"_ _2\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x166d y6031 w2db h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a3 y6031 w6d1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a4 y6031 w5c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a5 y6031 w312 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a6 y6031 w705 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a7 y6031 w851 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(1<span class=\"_ _0\"></span>37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b40 w852 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Insurance<span class=\"_ _2\"></span> finance (i<span class=\"_ _2\"></span>ncome)<span class=\"_ _2\"></span>/<span class=\"_ _4\"></span>expenses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a8 y5b40 w4ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4e4 y5b40 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16a9 y5b40 w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16aa y5b40 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ab y5b40 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ac y5b40 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(20)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6008 w84c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal changes<span class=\"_ _2\"></span> in consol<span class=\"_ _2\"></span>idated i<span class=\"_ _2\"></span>ncome statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ad y6008 w1e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">59<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ae y6008 w1a1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls69 ws18a\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16af y6008 w853 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17b ws18b\">89<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b0 y6008 w854 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">(134)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b1 y6008 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>23)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b2 y6008 w76e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(157<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w83e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b3 y5b43 w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b4 y5b43 w4f1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b5 y5b43 w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b6 y5b43 w5b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b7 y5b43 w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(15)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b8 y5b43 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w845 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x168b y5b4c w50a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">225<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16b9 y5b4c wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ba y5b4c w2e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">329<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16bb y5b4c w1a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16bc y5b4c wb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16bd y5b4c w530 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs721\">F6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>. Reins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce cont<span class=\"_ _0\"></span>rac<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"gs722\"><table class=\"s w855 h274\" id=\"_6b943705-5ff6-4693-acfe-b12609ca8966\"><tr><td></td><td></td><td class=\"c n x16be y6032 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x16bf y6032 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x2f5 h29 y6033 ff3 fs5 fc3 sc0 ls1 ws1\">Full<span class=\"_ _0\"></span>y </td><td></td><td></td><td class=\"t m0 x2ee ha y6033 ff2 fs5 fc3 sc0 ls21 ws23\">Fully </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xc6f h29 y6034 ff3 fs5 fc3 sc0 lsa8 wsa3\">retrospective </td><td></td><td></td><td class=\"t m0 x3be ha y6034 ff2 fs5 fc3 sc0 ls22 ws24\">retrospective </td><td></td></tr><tr><td></td><td class=\"t m0 xf6c h29 y6035 ff3 fs5 fc3 sc0 ls8d ws86\">Fair<span class=\"_ _2\"></span> value </td><td class=\"t m0 xbfe h29 y6035 ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td></td><td class=\"t m0 x1689 ha y6035 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> </td><td class=\"t m0 x970 ha y6035 ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td></td></tr><tr><td></td><td class=\"t m0 x2f3 h29 y6036 ff3 fs5 fc3 sc0 lsbe wsbe\">approach at </td><td class=\"t m0 x1253 h29 y6036 ff3 fs5 fc3 sc0 ls1 ws1\">tr<span class=\"_ _0\"></span>ansit<span class=\"_ _0\"></span>ion an<span class=\"_ _0\"></span>d </td><td></td><td class=\"t m0 x48d ha y6036 ff2 fs5 fc3 sc0 ls1 ws1\">app<span class=\"_ _0\"></span>roac<span class=\"_ _0\"></span>h at </td><td class=\"t m0 x3be ha y6036 ff2 fs5 fc3 sc0 ls11 ws11\">transition and </td><td></td></tr><tr><td></td><td class=\"t m0 xf6c h29 y6037 ff3 fs5 fc3 sc0 ls22 ws24\">transitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x168a h29 y6037 ff3 fs5 fc3 sc0 ls10c ws10d\">new con<span class=\"_ _2\"></span>tracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbff h29 y6037 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x152b ha y6037 ff2 fs5 fc3 sc0 ls22 ws24\">transition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x917 ha y6037 ff2 fs5 fc3 sc0 ls11 ws11\">new contracts<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y6037 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x499 h29 y6038 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3ae h29 y6038 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y6038 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 ha y6038 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c ha y6038 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y6038 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5a61 w842 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x168b y5a61 w7c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">823<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c0 y5a61 w53a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,1<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c1 y5a61 w3d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,930<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c2 y5a61 w552 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">6<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c3 y5a61 w2cc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c4 y5a61 w7ae h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,309<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y6039 ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o current s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5af4 w7f0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised for s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es rece<span class=\"_ _0\"></span>ived<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c5 y5af4 w856 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>87<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c6 y5af4 w857 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>76)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c7 y5af4 w17e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>163)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd42 y5af4 w208 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(<span class=\"_ _0\"></span>99)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75c y5af4 w1aa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c8 y5af4 w76e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y603a ff3 fs6 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nges th<span class=\"_ _0\"></span>at relate t<span class=\"_ _0\"></span>o future s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y603b w6cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Contr<span class=\"_ _0\"></span>acts in<span class=\"_ _0\"></span>itially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the perio<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1697 y603b w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16c9 y603b w7f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ca y603b w2aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16cb y603b wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16cc y603b w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">122<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16cd y603b w7bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5af7 w70a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ges in es<span class=\"_ _0\"></span>timates that a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t the CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ce y5af7 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16cf y5af7 w712 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e4 ws200\">71<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d0 y5af7 w68c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">76<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d1 y5af7 w21f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb0c y5af7 w858 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">4<span class=\"_ _0\"></span>05<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d2 y5af7 w268 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">659<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a66 w859 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Net expenses from rei<span class=\"_ _2\"></span>nsur<span class=\"_ _0\"></span>ance<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>on<span class=\"_ _2\"></span>trac<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d3 y5a66 w85a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d4 y5a66 w5c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsc6 ws15a\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d5 y5a66 w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d6 y5a66 w14f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">155<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d7 y5a66 w7bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d8 y5a66 w2cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c63 w326 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls10 ws10\">Reinsu<span class=\"_ _2\"></span>rance finance<span class=\"_ _2\"></span> income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16d9 y5c63 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16da y5c63 w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16db y5c63 w85b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16dc y5c63 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16dd y5c63 w11a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16de y5c63 wc7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a69 w84c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls10 ws10\">T<span class=\"_ _4\"></span>otal changes<span class=\"_ _2\"></span> in consol<span class=\"_ _2\"></span>idated i<span class=\"_ _2\"></span>ncome statement<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16df y5a69 w4da h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">(67)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e0 y5a69 w2ae h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">103<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e1 y5a69 w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e2 y5a69 w12b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e3 y5a69 w4b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">4<span class=\"_ _0\"></span>74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x95f y5a69 w85c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">6<span class=\"_ _0\"></span>39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bb2 w83e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other mov<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e4 y5bb2 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e5 y5bb2 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e6 y5bb2 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e7 y5bb2 w1d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(39)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e8 y5bb2 wac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x759 y5bb2 w11c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b3b w845 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e9 y5b3b w334 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">76<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ea y5b3b w80a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>211<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16eb y5b3b w85d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>,<span class=\"_ _1\"></span>974<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ec y5b3b w52c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">823<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ed y5b3b w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ee y5b3b w549 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1,<span class=\"_ _0\"></span>930<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y603c ff2 fs6 fc3 sc0 ls1 ws1\">Anal<span class=\"_ _0\"></span>ysed by se<span class=\"_ _0\"></span>gment as foll<span class=\"_ _0\"></span>ows:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a12 w23d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ef y5a12 w832 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">489<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f0 y5a12 w3e2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,205<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f1 y5a12 wcf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">1<span class=\"_ _0\"></span>,694<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f2 y5a12 w552 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e4 ws200\">4<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f3 y5a12 w4b1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f4 y5a12 w6ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,60<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w23f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f5 y5a45 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f6 y5a45 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f7 y5a45 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f8 y5a45 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4f9 y5a45 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f8 y5a45 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w242 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f9 y5b24 w85e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16fa y5b24 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16fb y5b24 w307 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16fc y5b24 w13c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">147<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16fd y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6fe y5b24 w13c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls29 ws56\">147<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w244 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16fe y5b25 w59b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ff y5b25 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1700 y5b25 wbd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">133<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1701 y5b25 w67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1702 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1703 y5b25 w67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w845 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">CS<span class=\"_ _0\"></span>M as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16e9 y5a16 w334 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">76<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ea y5a16 w80a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>211<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16eb y5a16 w85d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">1<span class=\"_ _0\"></span>,<span class=\"_ _1\"></span>974<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ec y5a16 w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">823<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ed y5a16 w4b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">1<span class=\"_ _0\"></span>,107<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ee y5a16 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1,<span class=\"_ _0\"></span>930</div></td></tr></table></div>",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfTheImpactOnTheCurrentPeriodOfTransitionApproachesAdoptedInEstablishingCSMs",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-591": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs724\">F7<span class=\"_ _2\"></span>. Reco<span class=\"_ _0\"></span>gnition of CSM in profit or los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs725\">The follow<span class=\"_ _0\"></span>ing table<span class=\"_ _0\"></span>s set out whe<span class=\"_ _0\"></span>n the Group exp<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s to recog<span class=\"_ _0\"></span>nise the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value of the CS<span class=\"_ _0\"></span>M in the cons<span class=\"_ _0\"></span>olidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs726\">insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts i<span class=\"_ _0\"></span>ssue<span class=\"_ _0\"></span>d and reinsur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>acts h<span class=\"_ _0\"></span>eld. For Ge<span class=\"_ _0\"></span>neral Mo<span class=\"_ _0\"></span>del busin<span class=\"_ _0\"></span>ess this is s<span class=\"_ _0\"></span>hown afte<span class=\"_ _0\"></span>r allowing for fut<span class=\"_ _0\"></span>ure accretio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f inte<span class=\"_ _0\"></span>rest </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs727\">on the C<span class=\"_ _0\"></span>SM at the lo<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in rate. The am<span class=\"_ _0\"></span>ounts pres<span class=\"_ _0\"></span>ented repre<span class=\"_ _0\"></span>sent the n<span class=\"_ _0\"></span>et impact in e<span class=\"_ _0\"></span>ach per<span class=\"_ _0\"></span>iod of expec<span class=\"_ _0\"></span>ted rele<span class=\"_ _0\"></span>ase of the CS<span class=\"_ _0\"></span>M recog<span class=\"_ _0\"></span>nised in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs728\">revenue l<span class=\"_ _0\"></span>ess the a<span class=\"_ _0\"></span>ccretion of interes<span class=\"_ _0\"></span>t on the CS<span class=\"_ _0\"></span>M on Gene<span class=\"_ _0\"></span>ral Mod<span class=\"_ _0\"></span>el busine<span class=\"_ _0\"></span>ss reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in insuranc<span class=\"_ _0\"></span>e finance ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"gs729\"><table class=\"s w85f h275\" id=\"_61d12b76-205b-40ae-b84a-8713b954f556\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x3be h29 y603d ff3 fs5 fc3 sc0 ls1 ws1\">Mo<span class=\"_ _0\"></span>re tha<span class=\"_ _0\"></span>n 10 </td><td></td></tr><tr><td></td><td class=\"t m0 x3a6 h29 y603e ff3 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s tha<span class=\"_ _0\"></span>n 1 year<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b2 h29 y603e ff3 fs5 fc3 sc0 ls10b wsb1\">1<span class=\"_ _0\"></span>-2 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b5 h29 y603e ff3 fs5 fc3 sc0 lsa4 ws9f\">2-3 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1704 h29 y603e ff3 fs5 fc3 sc0 ls1 ws1\">3-<span class=\"_ _0\"></span>4 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ec h29 y603e ff3 fs5 fc3 sc0 ls1 ws1\">4-<span class=\"_ _0\"></span>5 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f6 h29 y603e ff3 fs5 fc3 sc0 lsa4 ws9f\">5-1<span class=\"_ _0\"></span>0 yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1705 h29 y603e ff3 fs5 fc3 sc0 lsf7 ws211\">year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 h29 y603e ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y603f ff2 fs5 fc3 sc0 ls10b wsb1\">20<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1706 h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2fb h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x499 h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ff h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b h29 y603f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y6040 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c42 w23d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1707 y5c42 w28a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">263<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1708 y5c42 w4c2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1709 y5c42 w7c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x170a y5c42 w70 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">228<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x170b y5c42 w277 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x170c y5c42 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">933<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x170d y5c42 w293 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">1<span class=\"_ _0\"></span>,869<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x170e y5c42 w860 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d ws1f\">4<span class=\"_ _2\"></span>,000<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6041 w23f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x170f y6041 w513 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1710 y6041 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1711 y6041 wac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1712 y6041 wf4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1713 y6041 w2ff h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1714 y6041 w373 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5e wsb2\">68<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1715 y6041 w167 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1716 y6041 w1a4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6042 w242 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1717 y6042 w513 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">65<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1718 y6042 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1719 y6042 w300 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1de ws1f9\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x171a y6042 w19e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x171b y6042 w4e0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x171c y6042 wbd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">139<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x171d y6042 wca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x171e y6042 w12c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">633<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c45 w244 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x171f y5c45 wc6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1720 y5c45 w513 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1721 y5c45 w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1722 y5c45 wac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1723 y5c45 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1724 y5c45 w68c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1725 y5c45 w33e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">114<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1726 y5c45 w2e1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">329<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c20 w861 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span> C<span class=\"_ _0\"></span>S<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1727 y5c20 w59b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">393<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1728 y5c20 w2fb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">362<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1729 y5c20 w862 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">340<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x172a y5c20 w2a7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x172b y5c20 w1c1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x172c y5c20 w126 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>215<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x172d y5c20 w863 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,30<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x172e y5c20 w864 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">5<span class=\"_ _0\"></span>,2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6043 ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5d08 w23d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x172f y5d08 w5a2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(120<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1730 y5d08 w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(11<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1731 y5d08 w838 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1732 y5d08 w1f5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(101<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1733 y5d08 w305 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">(9<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1734 y5d08 w5ed h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(4<span class=\"_ _0\"></span>01)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1735 y5d08 w865 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>756<span class=\"_ _0\"></span>)</div></td><td class=\"c n x4ba y5d08 w8c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>94)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d09 w23f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1736 y5d09 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1737 y5d09 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1738 y5d09 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1739 y5d09 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x173a y5d09 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x173b y5d09 w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x173c y5d09 w8d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x173d y5d09 w866 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c06 w242 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x173e y5c06 w5ff h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x173f y5c06 w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1740 y5c06 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1741 y5c06 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1742 y5c06 w1e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1743 y5c06 w1d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1744 y5c06 w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1745 y5c06 w4fa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5c07 w244 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1746 y5c07 w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1747 y5c07 w190 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1748 y5c07 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1749 y5c07 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x174a y5c07 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x174b y5c07 w4e6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x174c y5c07 w867 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(4<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1745 y5c07 w66d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(133)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w861 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span> C<span class=\"_ _0\"></span>S<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x174d y5a16 w868 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1de ws1f9\">(145<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x174e y5a16 w70b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>38)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3ee y5a16 w7d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>128)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x174f y5a16 w869 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">(1<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1750 y5a16 w17e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>114)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1751 y5a16 w86a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1752 y5a16 w86b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>851<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1753 y5a16 w285 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>74)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs72a\"><table class=\"s w86c h276\" id=\"_d0230055-8875-4c6d-ab8b-406151a0020d\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x301 ha y6044 ff2 fs5 fc3 sc0 ls1 ws1\">Mo<span class=\"_ _0\"></span>re than 1<span class=\"_ _0\"></span>0 </td><td></td></tr><tr><td></td><td class=\"t m0 x1754 ha y6045 ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s than 1 ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b2 ha y6045 ff2 fs5 fc3 sc0 ls1e7 ws204\">1<span class=\"_ _0\"></span>-2 ye<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b5 ha y6045 ff2 fs5 fc3 sc0 ls1 ws1\">2-3 yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x605 ha y6045 ff2 fs5 fc3 sc0 lsaa wsa5\">3-4 y<span class=\"_ _2\"></span>ears<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ec ha y6045 ff2 fs5 fc3 sc0 ls11a ws11c\">4-5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 ha y6045 ff2 fs5 fc3 sc0 ls167 ws1d6\">5<span class=\"_ _0\"></span>-10 ye<span class=\"_ _0\"></span>ar<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1705 ha y6045 ff2 fs5 fc3 sc0 lsf7 ws211\">year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y6045 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y6046 w693 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsa4 ws9f\">202<span class=\"_ _0\"></span>3 (rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 xe50 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 x5a3 ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x1706 ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2fb ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x499 ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49a ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49c ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y6047 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c hc y6048 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x28d y6049 w86d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons</div><div class=\"t m0 x1755 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1756 y6049 w530 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1757 y6049 w86e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">237<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1758 y6049 w86f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">2<span class=\"_ _0\"></span>25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1759 y6049 w18a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">214<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x175a y6049 w215 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x175b y6049 w221 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">87<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x175c y6049 w461 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">1<span class=\"_ _1\"></span>,74<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x175d y6049 w6f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">3<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y604a w23f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x175e y604a wc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x175f y604a wac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1760 y604a w870 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1761 y604a w871 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1762 y604a w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1763 y604a w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1764 y604a w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1765 y604a we0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">201<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y602f w872 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits</div><div class=\"t m0 x1766 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1767 y602f w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">65<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1768 y602f w602 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1769 y602f w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x176a y602f w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x176b y602f w2db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x176c y602f w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">1<span class=\"_ _0\"></span>25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x176d y602f w18b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x176e y602f w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">589<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y604b w244 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x171f y604b w19e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x176f y604b w873 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1770 y604b w321 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1771 y604b w874 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1772 y604b w390 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1773 y604b w154 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1774 y604b wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1775 y604b w875 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _1\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y604c w861 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span> C<span class=\"_ _0\"></span>S<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1776 y604c w2fb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">368<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1777 y604c w6de h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">338<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1778 y604c w50d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1779 y604c w80f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d0 ws1e9\">293<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x177a y604c w23e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1a8 ws1bc\">274<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x177b y604c w876 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>117<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x177c y604c w60d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>,07<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x177d y604c wd4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">4<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y604d ff2 fs6 fc3 sc0 ls1 ws1\">Reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s held<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y604e w23d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x177e y604e w76e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(116<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x177f y604e w2e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">(111)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1780 y604e w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(105<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1781 y604e w877 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1782 y604e w1c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(93)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1783 y604e w4ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>383)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1784 y604e w878 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">(<span class=\"_ _0\"></span>697<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1785 y604e w879 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(1<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6008 w242 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-Profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1786 y6008 wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1787 y6008 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1788 y6008 w87a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1789 y6008 w87b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(11)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x178a y6008 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x178b y6008 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x178c y6008 w185 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x178d y6008 w6ad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>147<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y604f ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></td><td class=\"c n x178e y6050 w37b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x178f y6050 w87b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(15)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1790 y6050 w1ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1791 y6050 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1792 y6050 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1793 y6050 w22c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1794 y6050 w392 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(57<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1795 y6050 w20a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>179<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w861 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e9 ws207\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span> C<span class=\"_ _0\"></span>S<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1796 y5b44 w66 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(14<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1797 y5b44 w4ba h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(139)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3ee y5b44 w87c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>131<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1798 y5b44 w87d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">(123)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1799 y5b44 w4c9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(115)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x179a y5b44 w5ed h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(46<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x179b y5b44 w62c h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>810)</div></td><td class=\"c n x179c y5b44 w175 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,93<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs72b\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.</div>",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfRecognitionOfCSMInProfitOrLoss",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-592": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs72d\">F8. Ef<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ct of contrac<span class=\"_ _0\"></span>ts initially reco<span class=\"_ _0\"></span>gnised in the year<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs72e\">The ef<span class=\"_ _0\"></span>fect on t<span class=\"_ _0\"></span>he meas<span class=\"_ _0\"></span>urement com<span class=\"_ _0\"></span>ponent<span class=\"_ _0\"></span>s arising from th<span class=\"_ _0\"></span>e initial rec<span class=\"_ _0\"></span>ognition of ins<span class=\"_ _0\"></span>urance an<span class=\"_ _0\"></span>d reinsuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts in the ye<span class=\"_ _0\"></span>ar is disclo<span class=\"_ _0\"></span>sed in the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs72f\">tabl<span class=\"_ _0\"></span>es below. Cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s issue<span class=\"_ _0\"></span>d mainly com<span class=\"_ _0\"></span>prise of bulk purc<span class=\"_ _0\"></span>hase ann<span class=\"_ _0\"></span>uity tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tions comp<span class=\"_ _0\"></span>leted in the year a<span class=\"_ _0\"></span>nd protect<span class=\"_ _0\"></span>ion busine<span class=\"_ _0\"></span>ss. C<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs730\">acq<span class=\"_ _0\"></span>uired in the prio<span class=\"_ _0\"></span>r y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar relate to the ac<span class=\"_ _0\"></span>quisition of Pho<span class=\"_ _0\"></span>enix Life CA Holdin<span class=\"_ _0\"></span>gs Limited (former<span class=\"_ _0\"></span>ly known as S<span class=\"_ _0\"></span>LF o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada U<span class=\"_ _0\"></span>K Limited) (se<span class=\"_ _0\"></span>e note H2).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs731\">F8.1. Insurance contracts<span class=\"_ _3bd\"> </span></div><div class=\"gs732\"><table class=\"s w87e h277\" id=\"_53d7cc23-57e7-417b-8630-ae47d8265462\"><tr><td></td><td></td><td></td><td></td><td class=\"c n x179d y6051 w56b h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td class=\"c n x179e y6051 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c n x179f y6052 w87f h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls8d ws86\">Contracts issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a0 y6052 w880 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls65 wsc0\">C<span class=\"_ _0\"></span>ontracts acquired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x17a1 y6052 w881 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Contracts<span class=\"_ _2\"></span> issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a2 y6052 w882 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Co<span class=\"_ _0\"></span>ntracts acq<span class=\"_ _0\"></span>uired<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x17a3 h29 y6053 ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b2 h29 y6053 ff3 fs5 fc3 sc0 ls54 ws7f\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96d h29 y6053 ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 h29 y6053 ff3 fs5 fc3 sc0 ls54 ws7f\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x17a4 h29 y6053 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3af ha y6053 ff2 fs5 fc3 sc0 ls11 ws11\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6bd ha y6053 ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x17a5 ha y6053 ff2 fs5 fc3 sc0 ls11 ws11\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b1 ha y6053 ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y6053 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y6054 ff2 fs5 fc3 sc0 ls21 ws23\">Retireme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> S<span class=\"_ _0\"></span>olutions<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 h29 y6054 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d h29 y6054 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 h29 y6054 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe h29 y6054 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b h29 y6054 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y6054 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de ha y6054 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y6054 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcc0 ha y6054 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y6054 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y6055 w883 h205\"><div class=\"t m0 x1cf hc y5a8b ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timate of prese<span class=\"_ _0\"></span>nt value of<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows:<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6056 w6eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17a6 y6056 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">73<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17a7 y6056 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17a8 y6056 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1429 y6056 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17a9 y6056 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">73<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17aa y6056 wc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ab y6056 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ac y6056 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ad y6056 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ae y6056 wc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6057 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other dire<span class=\"_ _0\"></span>ctly </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6058 w884 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17af y6058 w885 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">6,<span class=\"_ _0\"></span>320<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b0 y6058 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b1 y6058 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b2 y6058 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b3 y6058 w7dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">6,<span class=\"_ _0\"></span>320<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b4 y6058 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">5<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b5 y6058 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b6 y6058 w7be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b7 y6058 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b8 y6058 w886 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">7<span class=\"_ _4\"></span>,153<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6059 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df4 w887 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17b9 y5df4 w16b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">6,393<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ba y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17bb y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17bc y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17bd y5df4 w888 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">6,393<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17be y5df4 w6f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1dc ws1f6\">5<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17bf y5df4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c0 y5df4 w7be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1,<span class=\"_ _0\"></span>443<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c1 y5df4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c2 y5df4 w10b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>1<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y605a ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w889 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash inflows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c3 y5b12 w5e6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(6<span class=\"_ _0\"></span>,8<span class=\"_ _0\"></span>81)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c4 y5b12 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c5 y5b12 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c6 y5b12 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c7 y5b12 w88a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>6,<span class=\"_ _0\"></span>881<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c8 y5b12 w88b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>6,<span class=\"_ _0\"></span>28<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c9 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1440 y5b12 w88c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ca y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cb y5b12 w88d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>9<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1d w88e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent incurre<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cc y5b1d w88f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cd y5b1d w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ce y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cf y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d0 y5b1d w221 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d1 y5b1d w1a5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d2 y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d3 y5b1d w167 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">35<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d4 y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d5 y5b1d w1a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1e w680 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d6 y5b1e w890 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d7 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13e4 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d8 y5b1e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17d9 y5b1e w215 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17da y5b1e w85c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">39<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17db y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17dc y5b1e w785 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17dd y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17de y5b1e w52c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">435<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y605b ff3 fs6 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>ses on one<span class=\"_ _0\"></span>rous co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>ts </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w891 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">at initi<span class=\"_ _0\"></span>al<span class=\"_ gs6e7\"> </span>reco<span class=\"_ _0\"></span>gnitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17df y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e0 y5a16 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e1 y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e2 y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e3 y5a16 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e4 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e5 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e6 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e7 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc0 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s w892 h278\" id=\"_1b090b6f-2b59-411a-aeb5-57cf9fb77ddf\"><tr><td></td><td></td><td></td><td></td><td class=\"c n x179d y605c w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td class=\"c n x179e y605c w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c n x179f y605d w87f h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls8d ws86\">Contracts issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a0 y605d w880 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls65 wsc0\">C<span class=\"_ _0\"></span>ontracts acquired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x17a1 y605d w881 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Contracts<span class=\"_ _2\"></span> issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a2 y605d w882 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Co<span class=\"_ _0\"></span>ntracts acq<span class=\"_ _0\"></span>uired<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x17a3 h29 y605e ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b2 h29 y605e ff3 fs5 fc3 sc0 ls54 ws7f\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96d h29 y605e ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 h29 y605e ff3 fs5 fc3 sc0 ls54 ws7f\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x17a4 h29 y605e ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3af ha y605e ff2 fs5 fc3 sc0 ls11 ws11\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6bd ha y605e ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x17a5 ha y605e ff2 fs5 fc3 sc0 ls11 ws11\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b1 ha y605e ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y605e ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y605f ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion &amp; S<span class=\"_ _0\"></span>aving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 h29 y605f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d h29 y605f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 h29 y605f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe h29 y605f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b h29 y605f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y605f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de ha y605f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y605f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcc0 ha y605f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y605f ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y6060 w883 h279\"><div class=\"t m0 x1cf hc y5a82 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timate of prese<span class=\"_ _0\"></span>nt value of<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows:<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6061 w6eb h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e8 y6061 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e9 y6061 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ea y6061 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17eb y6061 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ec y6061 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ed y6061 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ee y6061 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ef y6061 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f0 y6061 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f1 y6061 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6062 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other dire<span class=\"_ _0\"></span>ctly </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6063 w884 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f2 y6063 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f3 y6063 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f4 y6063 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f5 y6063 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a2 y6063 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f6 y6063 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f7 y6063 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x17f8 y6063 w714 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,34<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f9 y6063 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x17fa y6063 w453 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,3<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6064 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6065 w887 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fb y6065 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fc y6065 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fd y6065 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fe y6065 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x653 y6065 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ff y6065 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1800 y6065 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1801 y6065 w714 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,34<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c1 y6065 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1802 y6065 w714 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,34<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6066 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5fd6 w889 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash inflows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1803 y5fd6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1804 y5fd6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1805 y5fd6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1806 y5fd6 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ec y5fd6 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf3 y5fd6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1807 y5fd6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1808 y5fd6 w893 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,<span class=\"_ _1\"></span>41<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17c1 y5fd6 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1809 y5fd6 w894 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>1<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e0d w88e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent incurre<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180a y5e0d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180b y5e0d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180c y5e0d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180d y5e0d w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180e y5e0d w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180f y5e0d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1810 y5e0d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1811 y5e0d w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1812 y5e0d wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1813 y5e0d w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e7a w680 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1814 y5e7a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1815 y5e7a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1816 y5e7a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1817 y5e7a w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1818 y5e7a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1819 y5e7a wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x181a y5e7a wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x181b y5e7a w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x181c y5e7a wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x181d y5e7a w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y6067 ff3 fs6 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>ses on one<span class=\"_ _0\"></span>rous co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>ts </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b4c w891 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">at initi<span class=\"_ _0\"></span>al<span class=\"_ gs6e7\"> </span>reco<span class=\"_ _0\"></span>gnitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17df y5b4c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e0 y5b4c w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e1 y5b4c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e2 y5b4c w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e3 y5b4c we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e4 y5b4c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e5 y5b4c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e6 y5b4c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e7 y5b4c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc0 y5b4c wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs734\"><table class=\"s w895 h27a\" id=\"_39bbcadd-9003-4174-97e7-a6be58ceae62\"><tr><td></td><td></td><td></td><td></td><td class=\"c n x179d y6068 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td class=\"c n x179e y6068 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c n x179f y6052 w87f h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls8d ws86\">Contracts issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a0 y6052 w880 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls65 wsc0\">C<span class=\"_ _0\"></span>ontracts acquired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x17a1 y6052 w881 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Contracts<span class=\"_ _2\"></span> issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a2 y6052 w882 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Co<span class=\"_ _0\"></span>ntracts acq<span class=\"_ _0\"></span>uired<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 x17a3 h29 y6069 ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b2 h29 y6069 ff3 fs5 fc3 sc0 ls54 ws7f\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96d h29 y6069 ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa31 h29 y6069 ff3 fs5 fc3 sc0 ls54 ws7f\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x17a4 h29 y6069 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3af ha y6069 ff2 fs5 fc3 sc0 ls11 ws11\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6bd ha y6069 ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x17a5 ha y6069 ff2 fs5 fc3 sc0 ls11 ws11\">Profitable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b1 ha y6069 ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y6069 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y606a ff2 fs5 fc3 sc0 ls26 wsc6\">With-Profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc72 h29 y606a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xc6d h29 y606a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x6b6 h29 y606a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xbfe h29 y606a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48b h29 y606a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x49b ha y606a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9de ha y606a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcbf ha y606a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xcc0 ha y606a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y606a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x28d y6055 w883 h203\"><div class=\"t m0 x1cf hc y5a82 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timate of prese<span class=\"_ _0\"></span>nt value of<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows:<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6056 w6eb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e8 y6056 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e9 y6056 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ea y6056 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17eb y6056 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ec y6056 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ed y6056 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ee y6056 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ef y6056 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f0 y6056 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f1 y6056 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y606b ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other dire<span class=\"_ _0\"></span>ctly </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y606c w884 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f2 y606c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f3 y606c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f4 y606c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f5 y606c w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a2 y606c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f6 y606c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17f7 y606c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x181e y606c wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x181f y606c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1820 y606c w12b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">3<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y606d ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df4 w887 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fb y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fc y5df4 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fd y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17fe y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x653 y5df4 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17ff y5df4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1800 y5df4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1821 y5df4 w3f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">349<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1822 y5df4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1823 y5df4 w1a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">3<span class=\"_ _0\"></span>49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y606e ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w889 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash inflows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1803 y5b12 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1804 y5b12 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1805 y5b12 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1806 y5b12 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6ec y5b12 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcf3 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1807 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1824 y5b12 w76e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(349<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e7 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1825 y5b12 w896 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(349)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1d w88e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent incurre<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180a y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180b y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180c y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180d y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180e y5b1d w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x180f y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1810 y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1826 y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1827 y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1828 y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1e w680 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1814 y5b1e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1815 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1816 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1817 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1818 y5b1e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1819 y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x181a y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1829 y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x182a y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x182b y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y606f ff3 fs6 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>ses on one<span class=\"_ _0\"></span>rous co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>ts </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w891 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">at initi<span class=\"_ _0\"></span>al<span class=\"_ gs6e7\"> </span>reco<span class=\"_ _0\"></span>gnitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17df y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e0 y5a16 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e1 y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e2 y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e3 y5a16 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e4 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e5 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e6 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e7 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc0 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs735\"><table class=\"s w897 h27b\" id=\"_ca1894ea-257a-4366-8d2c-74a469c351c4\"><tr><td></td><td></td><td></td><td></td><td class=\"c n x179d y6070 w56b h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td class=\"c n x179e y6070 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c n x179f y6052 w87f h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls8d ws86\">Contracts issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a0 y6052 w880 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls65 wsc0\">C<span class=\"_ _0\"></span>ontracts acquired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x17a1 y6052 w881 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Contracts<span class=\"_ _2\"></span> issued<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x17a2 y6052 w882 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Co<span class=\"_ _0\"></span>ntracts acq<span class=\"_ _0\"></span>uired<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x182c y6071 w898 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable</div></td><td class=\"c n xe6a y6071 w145 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls54 ws7f\">Onerou</div></td><td class=\"c n x974 y6071 w898 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsbe wsbe\">Profitable</div></td><td class=\"c n x182d y6071 w899 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls54 ws7f\">Onerous</div></td><td class=\"c n xd00 y6071 w756 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al</div></td><td class=\"c n x3b4 y6072 w89a h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">Profitable</div></td><td class=\"c n x182e y6072 w89b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous</div></td><td class=\"c n x182f y6072 w89a h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">Profitable</div></td><td class=\"c n x13f2 y6072 w89b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">Onerous</div></td><td class=\"c n x11a1 y6072 w753 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x28d y6055 w883 h27c\"><div class=\"t m0 x1cf ha y6073 ff2 fs5 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _0\"></span>pe &amp; Oth<span class=\"_ _0\"></span>er<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a8b ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timate of prese<span class=\"_ _0\"></span>nt value of<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows:<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1830 y6074 w75a h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1831 y6074 w75a h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1832 y6074 w75a h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x949 y6074 w75a h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1833 y6074 w75a h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1834 y6075 w75b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x93e y6075 w75b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb83 y6075 w75b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1835 y6075 w75b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11aa y6075 w75b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6056 w6eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance ac<span class=\"_ _0\"></span>quisition c<span class=\"_ _0\"></span>ash flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17a6 y6056 w178 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">79<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1836 y6056 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1837 y6056 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1838 y6056 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1839 y6056 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">79<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x183a y6056 w5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x183b y6056 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x183c y6056 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x183d y6056 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x183e y6056 w5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6076 ff2 fs6 fc3 sc0 ls1 ws1\">Claims a<span class=\"_ _0\"></span>nd other dire<span class=\"_ _0\"></span>ctly </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6058 w884 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x183f y6058 w4d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">156<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1840 y6058 w89c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9e y6058 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc9f y6058 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1841 y6058 w2c7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>8</div></td><td class=\"c n x1842 y6058 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">172</div></td><td class=\"c n x1843 y6058 w546 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">270</div></td><td class=\"c n x1844 y6058 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xce4 y6058 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1845 y6058 w849 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">5<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6077 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5df4 w887 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash out<span class=\"_ _0\"></span>flows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1846 y5df4 w7c2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">235<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1847 y5df4 w89c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1848 y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1849 y5df4 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x184a y5df4 w4c2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>7</div></td><td class=\"c n x184b y5df4 w320 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">252</div></td><td class=\"c n x184c y5df4 w277 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>0</div></td><td class=\"c n x184d y5df4 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x184e y5df4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1e0 y5df4 w3f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">6<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6078 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b12 w889 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">of future c<span class=\"_ _0\"></span>ash inflows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x184f y5b12 w89d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>285<span class=\"_ _0\"></span>)</div></td><td class=\"c n x1850 y5b12 w2d6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(23)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1851 y5b12 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1852 y5b12 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1853 y5b12 w301 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(308)</div></td><td class=\"c n x1854 y5b12 w89e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(3<span class=\"_ _0\"></span>08)</div></td><td class=\"c n x1855 y5b12 w6c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>8)</div></td><td class=\"c n x1856 y5b12 w312 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(11<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1857 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1858 y5b12 w89f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(<span class=\"_ _0\"></span>688)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1d w88e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent incurre<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1859 y5b1d w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x185a y5b1d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x185b y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x185c y5b1d w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x185d y5b1d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x185e y5b1d w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x185f y5b1d wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1860 y5b1d w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1861 y5b1d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1862 y5b1d w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b1e w680 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1863 y5b1e w783 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1864 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1865 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1866 y5b1e w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1867 y5b1e w300 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1868 y5b1e w2d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1869 y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x186a y5b1e wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x186b y5b1e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x750 y5b1e w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">53<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 h23 y6079 ff3 fs6 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>ses on one<span class=\"_ _0\"></span>rous co<span class=\"_ _0\"></span>ntrac<span class=\"_ _0\"></span>ts </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 w891 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">at initi<span class=\"_ _0\"></span>al<span class=\"_ gs6e7\"> </span>reco<span class=\"_ _0\"></span>gnitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17df y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e0 y5a16 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e1 y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e2 y5a16 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e3 y5a16 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17e4 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x186c y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x186d y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x186e y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x186f y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs737\">F8.2<span class=\"_ _0\"></span>. Re<span class=\"_ _2\"></span>insurance contracts<span class=\"_ _3bd\"> </span></div><div class=\"gs738\"><table class=\"s w3b h27d\" id=\"_ca89cc51-eb50-4baf-beba-8e7ab84b4626\"><tr><td></td><td></td><td></td><td class=\"c n x179d y607a w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td class=\"c n x179e y607a w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c n x1870 y607b w8a0 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls22 ws24\">Contra<span class=\"_ _0\"></span>cts originated<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1871 y607b w8a1 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls65 wsc0\">Contra<span class=\"_ _0\"></span>cts acquired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1872 y607b w8a2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Cont<span class=\"_ _2\"></span>racts ori<span class=\"_ _2\"></span>ginated<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1873 y607b w8a3 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Co<span class=\"_ _0\"></span>ntracts acq<span class=\"_ _0\"></span>uired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x1874 h29 y607c ff3 fs5 fc3 sc0 ls54 ws7f\">Without<span class=\"_ _2\"></span> </td><td class=\"t m0 x2e9 h29 y607c ff3 fs5 fc3 sc0 ls1 ws1\">Wit<span class=\"_ _0\"></span>h </td><td class=\"t m0 x2de h29 y607c ff3 fs5 fc3 sc0 ls54 ws7f\">Without<span class=\"_ _2\"></span> </td><td class=\"t m0 x1253 h29 y607c ff3 fs5 fc3 sc0 ls1 ws1\">Wit<span class=\"_ _0\"></span>h </td><td></td><td class=\"t m0 x1875 ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">Without </td><td class=\"t m0 x1689 ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">With </td><td class=\"t m0 x1876 ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">Without </td><td class=\"t m0 x9df ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">With </td><td></td></tr><tr><td></td><td class=\"t m0 x1877 h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x3ad h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 xf6c h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x168a h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td></td><td class=\"t m0 xbff ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x972 ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 xc71 ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x2e0 ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td class=\"t m0 x2f1 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td class=\"t m0 x3b2 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td class=\"t m0 x3a3 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td class=\"t m0 x2f4 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td></td><td class=\"t m0 x1878 ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 x6bd ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 xf6d ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 x3b1 ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td></td></tr><tr><td></td><td class=\"t m0 x1879 h29 y607f ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6a h29 y607f ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x936 h29 y607f ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"c n x13ec y6080 w7d0 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x187a y6080 w8a4 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>l</div></td><td class=\"t m0 x187b ha y607f ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f ha y607f ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x187c ha y607f ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"c n x187d y6081 w7d2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x187e y6081 w8a5 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>l<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1830 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x187f y6082 w8a6 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1880 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1881 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1882 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1883 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1884 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1885 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1886 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1887 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6083 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timate of prese<span class=\"_ _0\"></span>nt value of future </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5dc7 w8a7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">ca<span class=\"_ _0\"></span>sh<span class=\"_ gs47\"> </span>inflows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1888 y5dc7 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1889 y5dc7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188a y5dc7 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188b y5dc7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188c y5dc7 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188d y5dc7 w7eb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188e y5dc7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188f y5dc7 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">153<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1890 y5dc7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1891 y5dc7 w8a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">8,440<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6084 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value of future </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5b23 w8a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">ca<span class=\"_ _0\"></span>sh<span class=\"_ gs47\"> </span>outfl<span class=\"_ _0\"></span>ows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1892 y5b23 w8aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5,7<span class=\"_ _2\"></span>87)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1893 y5b23 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1894 y5b23 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1895 y5b23 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1896 y5b23 w8aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5,7<span class=\"_ _2\"></span>87)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1897 y5b23 w1f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>8,58<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1898 y5b23 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1899 y5b23 w1dc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(207<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189a y5b23 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10bd y5b23 w408 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w88e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent incurre<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cc y5b24 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189b y5b24 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189c y5b24 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189d y5b24 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189e y5b24 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189f y5b24 w371 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">1<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1810 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1811 y5b24 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a0 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141c y5b24 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b25 w680 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a1 y5b25 w2aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a2 y5b25 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a3 y5b25 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc96 y5b25 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a4 y5b25 w8ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a5 y5b25 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a6 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a7 y5b25 w2a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a8 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a9 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">122<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 w8ac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed on init<span class=\"_ _0\"></span>ial rec<span class=\"_ _0\"></span>ognitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18aa y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ab y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ac y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ad y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ae y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18af y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b0 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b1 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b2 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b3 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs739\">All contr<span class=\"_ _0\"></span>acts o<span class=\"_ _0\"></span>riginated<span class=\"_ _0\"></span>, and the ma<span class=\"_ _0\"></span>jorit<span class=\"_ _0\"></span>y of contrac<span class=\"_ _0\"></span>ts acq<span class=\"_ _0\"></span>uired, rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e to th<span class=\"_ _0\"></span>e Retirement S<span class=\"_ _0\"></span>olutions s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt.</div>",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfEffectOfContractsAndInitiallyRecognisedInTheYear",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-633": {
   "value": "F8.2<span class=\"_ _0\"></span>. Re<span class=\"_ _2\"></span>insurance contracts<span class=\"_ _3bd\"> </span><table class=\"s w3b h27d\" id=\"_ca89cc51-eb50-4baf-beba-8e7ab84b4626\"><tr><td></td><td></td><td></td><td class=\"c n x179d y607a w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td><td class=\"c n x179e y607a w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c n x1870 y607b w8a0 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls22 ws24\">Contra<span class=\"_ _0\"></span>cts originated<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1871 y607b w8a1 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 ls65 wsc0\">Contra<span class=\"_ _0\"></span>cts acquired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1872 y607b w8a2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Cont<span class=\"_ _2\"></span>racts ori<span class=\"_ _2\"></span>ginated<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1873 y607b w8a3 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Co<span class=\"_ _0\"></span>ntracts acq<span class=\"_ _0\"></span>uired<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x1874 h29 y607c ff3 fs5 fc3 sc0 ls54 ws7f\">Without<span class=\"_ _2\"></span> </td><td class=\"t m0 x2e9 h29 y607c ff3 fs5 fc3 sc0 ls1 ws1\">Wit<span class=\"_ _0\"></span>h </td><td class=\"t m0 x2de h29 y607c ff3 fs5 fc3 sc0 ls54 ws7f\">Without<span class=\"_ _2\"></span> </td><td class=\"t m0 x1253 h29 y607c ff3 fs5 fc3 sc0 ls1 ws1\">Wit<span class=\"_ _0\"></span>h </td><td></td><td class=\"t m0 x1875 ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">Without </td><td class=\"t m0 x1689 ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">With </td><td class=\"t m0 x1876 ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">Without </td><td class=\"t m0 x9df ha y607c ff2 fs5 fc3 sc0 ls22 ws24\">With </td><td></td></tr><tr><td></td><td class=\"t m0 x1877 h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x3ad h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 xf6c h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x168a h29 y607d ff3 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td></td><td class=\"t m0 xbff ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x972 ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 xc71 ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td class=\"t m0 x2e0 ha y607d ff2 fs5 fc3 sc0 ls1 ws1\">a los<span class=\"_ _0\"></span>s </td><td></td></tr><tr><td></td><td class=\"t m0 x2f1 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td class=\"t m0 x3b2 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td class=\"t m0 x3a3 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td class=\"t m0 x2f4 h29 y607e ff3 fs5 fc3 sc0 lsc4 wsc7\">rec<span class=\"_ _0\"></span>overy </td><td></td><td class=\"t m0 x1878 ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 x6bd ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 xf6d ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td class=\"t m0 x3b1 ha y607e ff2 fs5 fc3 sc0 ls1 ws1\">rec<span class=\"_ _0\"></span>over<span class=\"_ _0\"></span>y </td><td></td></tr><tr><td></td><td class=\"t m0 x1879 h29 y607f ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xf6a h29 y607f ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x936 h29 y607f ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"c n x13ec y6080 w7d0 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x187a y6080 w8a4 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>l</div></td><td class=\"t m0 x187b ha y607f ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96f ha y607f ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x187c ha y607f ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td><td class=\"c n x187d y6081 w7d2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x187e y6081 w8a5 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>l<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1830 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x187f y6082 w8a6 h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1880 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1881 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1882 y6082 w75a h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1883 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1884 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1885 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1886 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1887 y6082 w75b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6083 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timate of prese<span class=\"_ _0\"></span>nt value of future </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5dc7 w8a7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">ca<span class=\"_ _0\"></span>sh<span class=\"_ gs47\"> </span>inflows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1888 y5dc7 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1889 y5dc7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188a y5dc7 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188b y5dc7 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188c y5dc7 w2f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">5<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188d y5dc7 w7eb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">8<span class=\"_ _0\"></span>,287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188e y5dc7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x188f y5dc7 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">153<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1890 y5dc7 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1891 y5dc7 w8a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">8,440<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6084 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timates of pres<span class=\"_ _0\"></span>ent value of future </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5b23 w8a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">ca<span class=\"_ _0\"></span>sh<span class=\"_ gs47\"> </span>outfl<span class=\"_ _0\"></span>ows<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1892 y5b23 w8aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5,7<span class=\"_ _2\"></span>87)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1893 y5b23 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1894 y5b23 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1895 y5b23 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1896 y5b23 w8aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5,7<span class=\"_ _2\"></span>87)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1897 y5b23 w1f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>8,58<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1898 y5b23 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1899 y5b23 w1dc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(207<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189a y5b23 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10bd y5b23 w408 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w88e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Risk a<span class=\"_ _0\"></span>djustm<span class=\"_ _0\"></span>ent incurre<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cc y5b24 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189b y5b24 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189c y5b24 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189d y5b24 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189e y5b24 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x189f y5b24 w371 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">1<span class=\"_ _0\"></span>95<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1810 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1811 y5b24 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a0 y5b24 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x141c y5b24 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">229<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b25 w680 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20 ws22\">CSM<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a1 y5b25 w2aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a2 y5b25 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a3 y5b25 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc96 y5b25 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a4 y5b25 w8ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a5 y5b25 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a6 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a7 y5b25 w2a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a8 y5b25 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18a9 y5b25 w2e1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">122<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 w8ac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed on init<span class=\"_ _0\"></span>ial rec<span class=\"_ _0\"></span>ognitio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18aa y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ab y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ac y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ad y5a16 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ae y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18af y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b0 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b1 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b2 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18b3 y5a16 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table>All contr<span class=\"_ _0\"></span>acts o<span class=\"_ _0\"></span>riginated<span class=\"_ _0\"></span>, and the ma<span class=\"_ _0\"></span>jorit<span class=\"_ _0\"></span>y of contrac<span class=\"_ _0\"></span>ts acq<span class=\"_ _0\"></span>uired, rela<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e to th<span class=\"_ _0\"></span>e Retirement S<span class=\"_ _0\"></span>olutions s<span class=\"_ _0\"></span>egme<span class=\"_ _0\"></span>nt.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReinsuranceExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-593": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gs73b\">F9. Unde<span class=\"_ _0\"></span>rlying items<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs73c\">The follow<span class=\"_ _0\"></span>ing table s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e composi<span class=\"_ _0\"></span>tion and the fa<span class=\"_ _0\"></span>ir value of underly<span class=\"_ _0\"></span>ing items of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s par<span class=\"_ _0\"></span>ticipatin<span class=\"_ _0\"></span>g contrac<span class=\"_ _0\"></span>ts which a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d using </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs73d\">the vari<span class=\"_ _0\"></span>able fee app<span class=\"_ _0\"></span>roach.<span class=\"_ _3bd\"> </span></div><div class=\"gs73e\"><table class=\"s w8ad h27e\" id=\"_83d11d33-39ff-4144-9aaa-82aa06ae0fab\"><tr><td></td><td></td><td class=\"c n x15cd y6085 w56b h20a\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td class=\"c n x1616 y6085 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 x678 ha y6086 ff2 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sions &amp; </td><td></td><td class=\"t m0 x55b h29 y6087 ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; </td><td></td></tr><tr><td></td><td class=\"t m0 xe81 h29 y6088 ff3 fs5 fc3 sc0 ls1 ws1\">Pen<span class=\"_ _0\"></span>sion<span class=\"_ _0\"></span>s &amp; </td><td></td><td class=\"t m0 x558 h29 y6088 ff3 fs5 fc3 sc0 ls1 ws1\">Eur<span class=\"_ _0\"></span>ope &amp; </td><td></td><td class=\"t m0 x556 ha y6088 ff2 fs5 fc3 sc0 ls14a ws138\">Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x18b4 h29 y6089 ff3 fs5 fc3 sc0 ls1 ws1\">Wit<span class=\"_ _0\"></span>h-pr<span class=\"_ _0\"></span>ofits </td><td class=\"t m0 xdae h29 y6089 ff3 fs5 fc3 sc0 ls1 ws1\">Ot<span class=\"_ _0\"></span>her </td><td class=\"t m0 x540 h29 y6089 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span><span class=\"ls1 ws1\"> </span></td></tr><tr><td></td><td class=\"t m0 x18b5 h29 y608a ff3 fs5 fc3 sc0 ls21 ws23\">Savin<span class=\"_ _0\"></span>gs<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x18b6 h29 y608a ff3 fs5 fc3 sc0 ls22 ws24\">With-profit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x677 h29 y608a ff3 fs5 fc3 sc0 ls11 ws11\">Other<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x5a1 h29 y608a ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td><td class=\"c x18b8 y608b w8ae h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x18b7 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x18ba y608c w8af h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">restate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x18b9 h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x18bc y608c w8b0 h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">restate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x18bb h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x18be y608c w8b1 h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">restate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x18bd h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 xe85 h29 y608d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe86 h29 y608d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe87 h29 y608d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y608d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafe ha y608e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x59f h29 y608e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xdb3 h29 y608e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y608e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y608f wee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18bf y608f w5bc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _0\"></span>7,7<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c0 y608f w41c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">21<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c1 y608f w8b2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">14,598<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c2 y608f w8b3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">5<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>87<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c3 y608f w7c4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">1<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c4 y608f w7b5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">1<span class=\"_ _0\"></span>7,<span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c5 y608f wf0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">1<span class=\"_ _0\"></span>5,5<span class=\"_ _0\"></span>32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c6 y608f w8b4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">5<span class=\"_ _0\"></span>0,<span class=\"_ _0\"></span>612<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6090 web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c7 y6090 w436 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">2,<span class=\"_ _0\"></span>554<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c8 y6090 w4f4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">6,569<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18c9 y6090 w258 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">4<span class=\"_ _0\"></span>,881<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ca y6090 w8b5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14,<span class=\"_ _0\"></span>00<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18cb y6090 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">2<span class=\"_ _0\"></span>,861<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18cc y6090 w10b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>9<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18cd y6090 wdb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,89<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ce y6090 w580 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">14<span class=\"_ _0\"></span>,678<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6091 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18cf y6091 w172 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>53<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d0 y6091 w60d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">3<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>987<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d1 y6091 w8b6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">1<span class=\"_ _0\"></span>,135<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdc8 y6091 w60d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">6<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>875<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d2 y6091 w5f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">2,<span class=\"_ _0\"></span>392<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d3 y6091 w4b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">6<span class=\"_ _0\"></span>,106<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf6 y6091 w268 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">967<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf1c y6091 w829 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">9,<span class=\"_ _0\"></span>465<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6092 wd8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d4 y6092 w50e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d5 y6092 w8b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">788<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d6 y6092 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d7 y6092 w293 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">1<span class=\"_ _0\"></span>,068<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10ca y6092 wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d8 y6092 w8b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">79<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d9 y6092 w390 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18da y6092 w8b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>027<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6093 w8ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivative ass<span class=\"_ _0\"></span>ets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18db y6093 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18dc y6093 w4d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">159<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18dd y6093 w192 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">893<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18de y6093 w8bb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls95 ws8e\">1<span class=\"_ _0\"></span>,053<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18df y6093 w77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e0 y6093 w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e1 y6093 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf26 y6093 w40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,361<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6094 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e2 y6094 w1e1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">85<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1435 y6094 w178 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">79<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e3 y6094 w2fb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">363<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e4 y6094 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">5<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e5 y6094 w1a1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x120d y6094 w225 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">77<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e6 y6094 wd2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">329<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e7 y6094 w47 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">452<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6095 wdf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Loans and deposits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e8 y6095 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10a0 y6095 w1a8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18e9 y6095 w6d6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ea y6095 wfd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">144<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcf y6095 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18eb y6095 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ec y6095 w241 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ed y6095 wc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">199<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6096 w3c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ee y6096 w780 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ef y6096 w2c3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">806<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f0 y6096 w628 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">6<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x118d y6096 w7dd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">1,5<span class=\"_ _0\"></span>02<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f1 y6096 w9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls147 ws152\">83<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f2 y6096 w8bc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">6<span class=\"_ _0\"></span>52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f3 y6096 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">167<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f4 y6096 w8bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5e wsb2\">9<span class=\"_ _0\"></span>02<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6097 w8be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivative liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f5 y6097 w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f6 y6097 w6d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(49<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1256 y6097 w815 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">(1<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f7 y6097 w8bf h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(<span class=\"_ _0\"></span>649)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f8 y6097 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18f9 y6097 w8c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(468)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18fa y6097 w8a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>434)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18fb y6097 w8c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>90<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6098 w8c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1\">Oblig<span class=\"_ _0\"></span>ation for repaym<span class=\"_ _0\"></span>ent of collater<span class=\"_ _0\"></span>al<span class=\"_ gs47\"> </span>receive<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1067 y6098 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13b5 y6098 w6d0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(90)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18fc y6098 w62c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(1<span class=\"_ _0\"></span>81)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18fd y6098 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>271<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18fe y6098 w299 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18ff y6098 w4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1900 y6098 w634 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>228)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1901 y6098 w827 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(339)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 w137 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1902 y6099 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1903 y6099 w2fd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2<span class=\"_ _0\"></span>,132)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1904 y6099 w6c5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1905 y6099 w3f9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(2,136)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1906 y6099 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1907 y6099 w32b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(2,059)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1908 y6099 w72e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1909 y6099 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>63)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4a w432 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190a y5b4a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190b y5b4a w8c3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>,550)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe3 y5b4a w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190c y5b4a w8c4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8,<span class=\"_ _0\"></span>550)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190d y5b4a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190e y5b4a w1ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"> </span>7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>2<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190f y5b4a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1910 y5b4a w63 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>8<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4b w8c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1911 y5b4b w736 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1912 y5b4b w8c6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(1<span class=\"_ _0\"></span>,1<span class=\"_ _2\"></span>72)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1913 y5b4b w8c7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(855<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1914 y5b4b w8c8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>2,0<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1915 y5b4b w20f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1916 y5b4b w8c9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1de ws1f9\">(<span class=\"_ _0\"></span>70<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1917 y5b4b w8ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x888 y5b4b w32a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>258<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1918 y5b4c w8cb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">22<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1919 y5b4c w8cc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>68<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x191a y5b4c w8cd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>45<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x191b y5b4c w8ce h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">65,59<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x191c y5b4c w8cf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">2<span class=\"_ _0\"></span>3,145<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x191d y5b4c w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22,<span class=\"_ _0\"></span>938<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x191e y5b4c w5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">20<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x191f y5b4c w8d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">6<span class=\"_ _1\"></span>7,<span class=\"_ _0\"></span>0<span class=\"_ _1\"> </span>0<span class=\"_ _1\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs73f\">1 <span class=\"_ _9\"> </span> Dur<span class=\"_ _0\"></span>ing the ye<span class=\"_ _0\"></span>ar imp<span class=\"_ _0\"></span>roveme<span class=\"_ _0\"></span>nts we<span class=\"_ _0\"></span>re made t<span class=\"_ _0\"></span>o the ba<span class=\"_ _0\"></span>sis for pr<span class=\"_ _0\"></span>oduc<span class=\"_ _0\"></span>ing fun<span class=\"_ _0\"></span>d level a<span class=\"_ _0\"></span>naly<span class=\"_ _0\"></span>sis whic<span class=\"_ _0\"></span>h has re<span class=\"_ _0\"></span>sulte<span class=\"_ _0\"></span>d in an up<span class=\"_ _0\"></span>date to th<span class=\"_ _0\"></span>e fair va<span class=\"_ _0\"></span>lue of und<span class=\"_ _0\"></span>erlyi<span class=\"_ _0\"></span>ng item<span class=\"_ _0\"></span>s disc<span class=\"_ _0\"></span>losur<span class=\"_ _0\"></span>e.</div>",
   "dimensions": {
    "concept": "pheonixgroupholdings:DisclosureOfUnderlyingItems",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-594": {
   "value": "F11<span class=\"_ _0\"></span>. Risk mana<span class=\"_ _0\"></span>gement \u2013 insur<span class=\"_ _0\"></span>ance risk<span class=\"_ _3bd\"> </span>This note for<span class=\"_ _0\"></span>ms one par<span class=\"_ _0\"></span>t of the risk ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent disclo<span class=\"_ _0\"></span>sures in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d financial s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nts. An over<span class=\"_ _0\"></span>view of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s app<span class=\"_ _0\"></span>roach to risk man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt is outline<span class=\"_ _0\"></span>d in note I3 and the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent of financial a<span class=\"_ _0\"></span>nd other risks i<span class=\"_ _0\"></span>s detailed in n<span class=\"_ _0\"></span>ote E6.<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance risk refe<span class=\"_ _0\"></span>rs to the risk of re<span class=\"_ _0\"></span>duction<span class=\"_ _0\"></span>s in earnings a<span class=\"_ _0\"></span>nd/<span class=\"_ _4\"></span>or v<span class=\"_ _0\"></span>alue, throu<span class=\"_ _0\"></span>gh financi<span class=\"_ _0\"></span>al or reputa<span class=\"_ _0\"></span>tional los<span class=\"_ _0\"></span>s, due to exp<span class=\"_ _0\"></span>erienc<span class=\"_ _0\"></span>e variations in th<span class=\"_ _0\"></span>e timing<span class=\"_ _0\"></span>, freque<span class=\"_ _0\"></span>ncy and s<span class=\"_ _0\"></span>everit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f in<span class=\"_ _0\"></span>sured/<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>derwr<span class=\"_ _0\"></span>itten event<span class=\"_ _0\"></span>s and to fluc<span class=\"_ _0\"></span>tuations in th<span class=\"_ _0\"></span>e timing and am<span class=\"_ _0\"></span>ount of claim set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ents. T<span class=\"_ _0\"></span>he Life busine<span class=\"_ _0\"></span>sses are exp<span class=\"_ _0\"></span>osed to the foll<span class=\"_ _0\"></span>owing elem<span class=\"_ _0\"></span>ents of insura<span class=\"_ _0\"></span>nce risk<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w8d1 h280\" id=\"_d390848f-a45e-4d77-b961-fc1efdba2936\"><tr><td class=\"c n x1d4 y609a w8d2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Mortalit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1920 y609a w8d3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">The risk of red<span class=\"_ _0\"></span>uctions in e<span class=\"_ _0\"></span>arnings<span class=\"_ _0\"></span>, capi<span class=\"_ _0\"></span>tal and/<span class=\"_ _2\"></span>or valu<span class=\"_ _0\"></span>e through a fina<span class=\"_ _0\"></span>ncial or rep<span class=\"_ _0\"></span>utationa<span class=\"_ _0\"></span>l loss aris<span class=\"_ _0\"></span>ing as a result of hig<span class=\"_ _0\"></span>her<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1921 hc y609b ff2 fs6 fc3 sc0 ls1 ws1\">than ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d number of de<span class=\"_ _0\"></span>ath claims on a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce produc<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, lower than exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d improvement<span class=\"_ _0\"></span>s in mort<span class=\"_ _0\"></span>ality o<span class=\"_ _0\"></span>r </td></tr><tr><td></td><td class=\"t m0 x1921 hc y609c ff2 fs6 fc3 sc0 ls1 ws1\">adver<span class=\"_ _0\"></span>se moveme<span class=\"_ _0\"></span>nt in mort<span class=\"_ _0\"></span>ality r<span class=\"_ _0\"></span>ates on Equit<span class=\"_ _0\"></span>y Releas<span class=\"_ _0\"></span>e Mor<span class=\"_ _0\"></span>tgage<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y609d w8d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1922 y609d w8d5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">The risk of re<span class=\"_ _0\"></span>duction<span class=\"_ _0\"></span>s in earning<span class=\"_ _0\"></span>s, cap<span class=\"_ _0\"></span>ital and/<span class=\"_ _2\"></span>or val<span class=\"_ _0\"></span>ue through a fin<span class=\"_ _0\"></span>ancial or re<span class=\"_ _0\"></span>putation<span class=\"_ _0\"></span>al loss ari<span class=\"_ _0\"></span>sing as a result of lowe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1921 hc y609e ff2 fs6 fc3 sc0 ls1 ws1\">than ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d number of de<span class=\"_ _0\"></span>aths expe<span class=\"_ _0\"></span>rience<span class=\"_ _0\"></span>d on annuit<span class=\"_ _0\"></span>y produc<span class=\"_ _0\"></span>ts or gre<span class=\"_ _0\"></span>ater than exp<span class=\"_ _0\"></span>ected im<span class=\"_ _0\"></span>provements in </td></tr><tr><td></td><td class=\"t m0 x1921 hc y609f ff2 fs6 fc3 sc0 ls13 ws14\">annuitant<span class=\"_ gs47\"> </span>mortalit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60a0 w8d6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Morbidity/<span class=\"_ _2\"></span>Dis<span class=\"_ _0\"></span>abi<span class=\"_ _2\"></span>lit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1923 y60a0 w8d7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">The ri<span class=\"_ _0\"></span>sk of reduct<span class=\"_ _0\"></span>ions in earnin<span class=\"_ _0\"></span>gs, c<span class=\"_ _0\"></span>apital an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or valu<span class=\"_ _0\"></span>e through a fin<span class=\"_ _0\"></span>ancial or rep<span class=\"_ _0\"></span>utation<span class=\"_ _0\"></span>al loss aris<span class=\"_ _0\"></span>ing as a result of hig<span class=\"_ _0\"></span>her<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1921 hc y60a1 ff2 fs6 fc3 sc0 ls1 ws1\">than ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d number of in<span class=\"_ _0\"></span>ceptions on c<span class=\"_ _0\"></span>ritical illne<span class=\"_ _0\"></span>ss or inc<span class=\"_ _0\"></span>ome protec<span class=\"_ _0\"></span>tion policie<span class=\"_ _0\"></span>s and lower tha<span class=\"_ _0\"></span>n expec<span class=\"_ _0\"></span>ted recover<span class=\"_ _0\"></span>y </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60a2 ff2 fs6 fc3 sc0 ls1 ws1\">rates on in<span class=\"_ _0\"></span>come prote<span class=\"_ _0\"></span>ction po<span class=\"_ _0\"></span>licies or adver<span class=\"_ _0\"></span>se moveme<span class=\"_ _0\"></span>nts in morbi<span class=\"_ _0\"></span>dity rate<span class=\"_ _0\"></span>s on Equity R<span class=\"_ _0\"></span>elease M<span class=\"_ _0\"></span>ortg<span class=\"_ _0\"></span>ages<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60a3 w8d8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">Expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1924 y60a3 w8d9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _0\"></span>he risk of reduc<span class=\"_ _0\"></span>tions in ear<span class=\"_ _0\"></span>nings<span class=\"_ _0\"></span>, capita<span class=\"_ _0\"></span>l and/<span class=\"_ _4\"></span>o<span class=\"_ _0\"></span>r value throug<span class=\"_ _0\"></span>h a financial o<span class=\"_ _0\"></span>r reputatio<span class=\"_ _0\"></span>nal loss a<span class=\"_ _0\"></span>rising as a res<span class=\"_ _0\"></span>ult of<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1921 hc y60a4 ff2 fs6 fc3 sc0 ls1 ws1\">unexp<span class=\"_ _0\"></span>ected t<span class=\"_ _0\"></span>iming or value of exp<span class=\"_ _0\"></span>enses in<span class=\"_ _0\"></span>curred.<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60a5 w8da h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls12 ws13\">Persistency<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1925 y60a5 w8db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">The ris<span class=\"_ _0\"></span>k o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>ductio<span class=\"_ _0\"></span>ns in earning<span class=\"_ _0\"></span>s, c<span class=\"_ _0\"></span>apital and/<span class=\"_ _2\"></span>or v<span class=\"_ _0\"></span>alue throug<span class=\"_ _0\"></span>h a financial l<span class=\"_ _0\"></span>oss arisin<span class=\"_ _0\"></span>g as a result of adve<span class=\"_ _0\"></span>rse moveme<span class=\"_ _0\"></span>nts in<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1921 hc y60a6 ff2 fs6 fc3 sc0 ls1 ws1\">surren<span class=\"_ _0\"></span>der rates<span class=\"_ _0\"></span>, guar<span class=\"_ _0\"></span>anteed ann<span class=\"_ _0\"></span>uity opti<span class=\"_ _0\"></span>on (\u2018GA<span class=\"_ _2\"></span>O<span class=\"_ _0\"></span>\u2019) surren<span class=\"_ _0\"></span>der rates<span class=\"_ _0\"></span>, GA<span class=\"_ _2\"></span>O ta<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>e-<span class=\"_ _0\"></span>up rates, p<span class=\"_ _0\"></span>olicyho<span class=\"_ _0\"></span>lder retirem<span class=\"_ _0\"></span>ent dates<span class=\"_ _0\"></span>, </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60a7 ff2 fs6 fc3 sc0 ls1 ws1\">the oc<span class=\"_ _0\"></span>currenc<span class=\"_ _0\"></span>e of a mass lap<span class=\"_ _0\"></span>se event or adver<span class=\"_ _0\"></span>se chan<span class=\"_ _0\"></span>ge in mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>e prepayme<span class=\"_ _0\"></span>nt rates leadin<span class=\"_ _0\"></span>g to losse<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60a8 w8dc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">New b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s pricin<span class=\"_ _0\"></span>g<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1926 y60a8 w8dd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">The risk of red<span class=\"_ _0\"></span>uctions in e<span class=\"_ _0\"></span>arnings<span class=\"_ _0\"></span>, capi<span class=\"_ _0\"></span>tal and/<span class=\"_ _2\"></span>or valu<span class=\"_ _0\"></span>e through a fina<span class=\"_ _0\"></span>ncial los<span class=\"_ _0\"></span>s arising as a re<span class=\"_ _0\"></span>sult of inappro<span class=\"_ _0\"></span>priate pricing<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1921 hc y60a9 ff2 fs6 fc3 sc0 ls1 ws1\">of new bus<span class=\"_ _0\"></span>iness th<span class=\"_ _0\"></span>at is not in line with th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g risk facto<span class=\"_ _0\"></span>rs for that bu<span class=\"_ _0\"></span>siness<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60aa w8de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb6 wsb4\">Conc<span class=\"_ _0\"></span>entration o<span class=\"_ _2\"></span>f risk</div></td><td class=\"c n x1927 y60aa w8df h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws1\">T<span class=\"_ _0\"></span>he conc<span class=\"_ _0\"></span>entration of risk a<span class=\"_ _0\"></span>rising from ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s might exis<span class=\"_ _0\"></span>t where the Gro<span class=\"_ _0\"></span>up has signifi<span class=\"_ _0\"></span>cant expo<span class=\"_ _0\"></span>sure to speci<span class=\"_ _0\"></span>fic<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1921 hc y60ab ff2 fs6 fc3 sc0 ls81 ws1\">dem<span class=\"_ _0\"></span>ographic f<span class=\"_ _0\"></span>actors s<span class=\"_ _0\"></span>uch as ag<span class=\"_ _0\"></span>e, smoker st<span class=\"_ _0\"></span>atus, g<span class=\"_ _0\"></span>eogr<span class=\"_ _0\"></span>aphical lo<span class=\"_ _0\"></span>cation<span class=\"_ _0\"></span>. The Group\u2019s expos<span class=\"_ _0\"></span>ure to insuranc<span class=\"_ _0\"></span>e risk is spre<span class=\"_ _0\"></span>ad </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60ac ff2 fs6 fc3 sc0 ls81 ws1\">acros<span class=\"_ _0\"></span>s a diversifi<span class=\"_ _0\"></span>ed por<span class=\"_ _0\"></span>tfolio of pro<span class=\"_ _0\"></span>ducts a<span class=\"_ _0\"></span>nd approximate<span class=\"_ _0\"></span>ly 12 million polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s. Co<span class=\"_ _0\"></span>ncentra<span class=\"_ _0\"></span>tion risk might al<span class=\"_ _0\"></span>so arise </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60ad ff2 fs6 fc3 sc0 ls81 ws1\">from ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s that expo<span class=\"_ _0\"></span>se the Group to fin<span class=\"_ _0\"></span>ancial ris<span class=\"_ _0\"></span>k as a result of option<span class=\"_ _0\"></span>s and guar<span class=\"_ _0\"></span>antees cont<span class=\"_ _0\"></span>ained wit<span class=\"_ _0\"></span>hin the </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60ae ff2 fs6 fc3 sc0 ls81 ws1\">produ<span class=\"_ _0\"></span>ct. De<span class=\"_ _0\"></span>tails of the Gro<span class=\"_ _0\"></span>up<span class=\"_ _2\"></span>\u2019s approa<span class=\"_ _0\"></span>ch to mana<span class=\"_ _0\"></span>ging thes<span class=\"_ _0\"></span>e features are c<span class=\"_ _0\"></span>ontaine<span class=\"_ _0\"></span>d in F11.<span class=\"_ _0\"></span>3 Manag<span class=\"_ _0\"></span>ing Produc<span class=\"_ _0\"></span>t Risk. </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60af ff2 fs6 fc3 sc0 ls81 ws1\">The Gro<span class=\"_ _0\"></span>up sets in<span class=\"_ _0\"></span>dividual risk lim<span class=\"_ _0\"></span>its as a key control with<span class=\"_ _0\"></span>in its Risk App<span class=\"_ _0\"></span>etite Framework<span class=\"_ _0\"></span>. Risk limit<span class=\"_ _0\"></span>s are reviewed as p<span class=\"_ _0\"></span>art of </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60b0 ff2 fs6 fc3 sc0 ls81 ws1\">approvin<span class=\"_ _0\"></span>g the Group\u2019s Busine<span class=\"_ _0\"></span>ss Plan and p<span class=\"_ _0\"></span>ermit con<span class=\"_ _0\"></span>centratio<span class=\"_ _0\"></span>ns of cer<span class=\"_ _0\"></span>tain risks onl<span class=\"_ _0\"></span>y where the s<span class=\"_ _0\"></span>trategy c<span class=\"_ _0\"></span>an be </td></tr><tr><td></td><td class=\"t m0 x1921 hc y60b1 ff2 fs6 fc3 sc0 ls1 wsd\">demons<span class=\"_ _0\"></span>trated as affordable within risk appetite.<span class=\"_ _3bd\"> </span></td></tr></table>Objectives<span class=\"_ _2\"></span> and policies<span class=\"_ _2\"></span> for mi<span class=\"_ _2\"></span>tigating insura<span class=\"_ _2\"></span>nce risk<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance risks a<span class=\"_ _0\"></span>re manag<span class=\"_ _0\"></span>ed by monitorin<span class=\"_ _0\"></span>g risk expo<span class=\"_ _0\"></span>sure agains<span class=\"_ _0\"></span>t pre-<span class=\"_ _0\"></span>defined app<span class=\"_ _0\"></span>etite limits<span class=\"_ _0\"></span>. If a risk is movin<span class=\"_ _0\"></span>g out of appeti<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>, the Group c<span class=\"_ _0\"></span>an cho<span class=\"_ _0\"></span>ose to mitig<span class=\"_ _0\"></span>ate it via reinsura<span class=\"_ _0\"></span>nce in the c<span class=\"_ _0\"></span>ase of long<span class=\"_ _0\"></span>evity, mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y and morb<span class=\"_ _0\"></span>idity ris<span class=\"_ _0\"></span>ks, or by ta<span class=\"_ _0\"></span>king other risk re<span class=\"_ _0\"></span>ducing a<span class=\"_ _0\"></span>ctions<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>This is s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>ted by addition<span class=\"_ _0\"></span>al metho<span class=\"_ _0\"></span>ds to asse<span class=\"_ _0\"></span>ss and m<span class=\"_ _0\"></span>onitor insura<span class=\"_ _0\"></span>nce risk exp<span class=\"_ _0\"></span>osures for bot<span class=\"_ _0\"></span>h individual t<span class=\"_ _0\"></span>ypes of ris<span class=\"_ _0\"></span>ks insured an<span class=\"_ _0\"></span>d ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rall risks<span class=\"_ _0\"></span>. These metho<span class=\"_ _0\"></span>ds<span class=\"_ _2\"></span> include internal risk measurement mode<span class=\"_ _0\"></span>ls, experience analyses<span class=\"_ _0\"></span>, external data comparisons<span class=\"_ _0\"></span>, sensitivity analyse<span class=\"_ _0\"></span>s, scenario analyses and s<span class=\"_ _0\"></span>tress tes<span class=\"_ _0\"></span>ting. A<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s that are de<span class=\"_ _0\"></span>emed to be fin<span class=\"_ _0\"></span>ancially s<span class=\"_ _0\"></span>ignificant are re<span class=\"_ _0\"></span>viewed at lea<span class=\"_ _0\"></span>st annua<span class=\"_ _0\"></span>lly for pricing an<span class=\"_ _0\"></span>d repor<span class=\"_ _0\"></span>ting purp<span class=\"_ _0\"></span>oses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The profi<span class=\"_ _0\"></span>tabilit<span class=\"_ _0\"></span>y of the run-of<span class=\"_ _0\"></span>f of the Compa<span class=\"_ _0\"></span>ny\u2019<span class=\"_ _2\"></span>s le<span class=\"_ _0\"></span>gacy b<span class=\"_ _0\"></span>usiness d<span class=\"_ _0\"></span>epends<span class=\"_ _0\"></span>, to a signific<span class=\"_ _0\"></span>ant exte<span class=\"_ _0\"></span>nt, on the val<span class=\"_ _0\"></span>ues of claims pa<span class=\"_ _0\"></span>id in the future re<span class=\"_ _0\"></span>lative to the as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>ccumulate<span class=\"_ _0\"></span>d to the date of claim<span class=\"_ _0\"></span>. T<span class=\"_ _4\"></span>ypic<span class=\"_ _0\"></span>ally<span class=\"_ _2\"></span>, over th<span class=\"_ _0\"></span>e lif<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>time of a contrac<span class=\"_ _0\"></span>t, prem<span class=\"_ _0\"></span>iums and invest<span class=\"_ _0\"></span>ment returns exc<span class=\"_ _0\"></span>eed cl<span class=\"_ _0\"></span>aim cost<span class=\"_ _0\"></span>s in the earl<span class=\"_ _0\"></span>y y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars and it is n<span class=\"_ _0\"></span>eces<span class=\"_ _0\"></span>sar<span class=\"_ _0\"></span>y to set asid<span class=\"_ _0\"></span>e these am<span class=\"_ _0\"></span>ounts to me<span class=\"_ _0\"></span>et future oblig<span class=\"_ _0\"></span>ations<span class=\"_ _0\"></span>. The amount of s<span class=\"_ _0\"></span>uch future ob<span class=\"_ _0\"></span>ligations is a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sed on a<span class=\"_ _0\"></span>ctuaria<span class=\"_ _0\"></span>l princ<span class=\"_ _0\"></span>iples by referenc<span class=\"_ _0\"></span>e to assumpt<span class=\"_ _0\"></span>ions abou<span class=\"_ _0\"></span>t the developm<span class=\"_ _0\"></span>ent of financia<span class=\"_ _0\"></span>l and insura<span class=\"_ _0\"></span>nce risks<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>It is the<span class=\"_ _0\"></span>refore nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y for the Dire<span class=\"_ _0\"></span>ctors of e<span class=\"_ _0\"></span>ach life compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y to m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e de<span class=\"_ _0\"></span>cisions<span class=\"_ _0\"></span>, base<span class=\"_ _0\"></span>d on act<span class=\"_ _0\"></span>uarial advic<span class=\"_ _0\"></span>e, which en<span class=\"_ _0\"></span>sure an approp<span class=\"_ _0\"></span>riate acc<span class=\"_ _0\"></span>umulation of as<span class=\"_ _0\"></span>sets rel<span class=\"_ _0\"></span>ative to liabilities<span class=\"_ _0\"></span>. These d<span class=\"_ _0\"></span>ecision<span class=\"_ _0\"></span>s include inves<span class=\"_ _0\"></span>tment poli<span class=\"_ _0\"></span>cy<span class=\"_ _2\"></span>, bo<span class=\"_ _0\"></span>nus polic<span class=\"_ _0\"></span>y and, whe<span class=\"_ _0\"></span>re discretion ex<span class=\"_ _0\"></span>ists<span class=\"_ _0\"></span>, the level of payme<span class=\"_ _0\"></span>nts on earl<span class=\"_ _0\"></span>y termination<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In the Re<span class=\"_ _0\"></span>tirement S<span class=\"_ _0\"></span>olutions op<span class=\"_ _0\"></span>erating se<span class=\"_ _0\"></span>gment<span class=\"_ _0\"></span>, longevi<span class=\"_ _0\"></span>ty risk ex<span class=\"_ _0\"></span>posures c<span class=\"_ _0\"></span>ontinue to incre<span class=\"_ _0\"></span>ase as a res<span class=\"_ _0\"></span>ult of the Bulk Purch<span class=\"_ _0\"></span>ase Annuit<span class=\"_ _0\"></span>y deal<span class=\"_ _0\"></span>s it has suc<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>fully acquire<span class=\"_ _0\"></span>d, however th<span class=\"_ _0\"></span>e vast ma<span class=\"_ _0\"></span>jorit<span class=\"_ _0\"></span>y of these exp<span class=\"_ _0\"></span>osures are re<span class=\"_ _0\"></span>insured to third pa<span class=\"_ _0\"></span>rties<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>F11<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 S<span class=\"_ _0\"></span>ensitivitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Insur<span class=\"_ _0\"></span>ance liabili<span class=\"_ _0\"></span>ties are sen<span class=\"_ _0\"></span>sitive to chang<span class=\"_ _0\"></span>es in risk vari<span class=\"_ _0\"></span>ables<span class=\"_ _0\"></span>, such as preva<span class=\"_ _0\"></span>iling market interest r<span class=\"_ _0\"></span>ates, c<span class=\"_ _0\"></span>urrency ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s and equit<span class=\"_ _0\"></span>y pric<span class=\"_ _0\"></span>es, sin<span class=\"_ _0\"></span>ce thes<span class=\"_ _0\"></span>e variatio<span class=\"_ _0\"></span>ns alter the val<span class=\"_ _0\"></span>ue of the financi<span class=\"_ _0\"></span>al asse<span class=\"_ _0\"></span>ts held to me<span class=\"_ _0\"></span>et obliga<span class=\"_ _0\"></span>tions arisin<span class=\"_ _0\"></span>g from insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in investme<span class=\"_ _0\"></span>nt condition<span class=\"_ _0\"></span>s also have an impa<span class=\"_ _0\"></span>ct on the val<span class=\"_ _0\"></span>ue of insuranc<span class=\"_ _0\"></span>e liabilities th<span class=\"_ _0\"></span>emselve<span class=\"_ _0\"></span>s. Addition<span class=\"_ _0\"></span>ally<span class=\"_ _2\"></span>, in<span class=\"_ _0\"></span>surance li<span class=\"_ _0\"></span>abilities are se<span class=\"_ _0\"></span>nsitive to the as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s which have bee<span class=\"_ _0\"></span>n applie<span class=\"_ _0\"></span>d in their ca<span class=\"_ _0\"></span>lculation<span class=\"_ _0\"></span>, such as mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty and l<span class=\"_ _0\"></span>apse rates<span class=\"_ _0\"></span>. Som<span class=\"_ _0\"></span>etimes allowa<span class=\"_ _0\"></span>nce mus<span class=\"_ _0\"></span>t also be m<span class=\"_ _0\"></span>ade for the ef<span class=\"_ _0\"></span>fect on fu<span class=\"_ _0\"></span>ture assum<span class=\"_ _0\"></span>ptions of man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt or policyh<span class=\"_ _0\"></span>older ac<span class=\"_ _0\"></span>tions in cer<span class=\"_ _0\"></span>tain e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>cenar<span class=\"_ _0\"></span>ios. This c<span class=\"_ _0\"></span>ould lea<span class=\"_ _0\"></span>d to change<span class=\"_ _0\"></span>s in assum<span class=\"_ _0\"></span>ed ass<span class=\"_ _0\"></span>et mix or fut<span class=\"_ _0\"></span>ure bonus rate<span class=\"_ _0\"></span>s. The mos<span class=\"_ _0\"></span>t signific<span class=\"_ _0\"></span>ant non-e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>ensitiviti<span class=\"_ _0\"></span>es arise from m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality, long<span class=\"_ _0\"></span>evity an<span class=\"_ _0\"></span>d lapse risk<span class=\"_ _0\"></span>. The tab<span class=\"_ _0\"></span>le below an<span class=\"_ _0\"></span>alyses h<span class=\"_ _0\"></span>ow the CSM<span class=\"_ _0\"></span>, profit af<span class=\"_ _0\"></span>ter tax an<span class=\"_ _0\"></span>d equi<span class=\"_ _0\"></span>ty would h<span class=\"_ _0\"></span>ave increas<span class=\"_ _0\"></span>ed or (decre<span class=\"_ _0\"></span>ased) if c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in under<span class=\"_ _0\"></span>writing risk va<span class=\"_ _0\"></span>riables th<span class=\"_ _0\"></span>at were reason<span class=\"_ _0\"></span>ably pos<span class=\"_ _0\"></span>sible at the re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting date had occ<span class=\"_ _0\"></span>urred. Thi<span class=\"_ _0\"></span>s analysis p<span class=\"_ _0\"></span>resents t<span class=\"_ _0\"></span>he sensit<span class=\"_ _0\"></span>ivities both b<span class=\"_ _0\"></span>efore and afte<span class=\"_ _0\"></span>r risk mitiga<span class=\"_ _0\"></span>tion by reinsura<span class=\"_ _0\"></span>nce and as<span class=\"_ _0\"></span>sumes th<span class=\"_ _0\"></span>at all other vari<span class=\"_ _0\"></span>ables remain c<span class=\"_ _0\"></span>onst<span class=\"_ _0\"></span>ant<span class=\"_ _3bd\"> </span><div class=\"gs52c\"><table class=\"s w8e0 h281\" id=\"_f25664fd-ba17-4a95-9837-43b104430fba\"><tr><td></td><td></td><td class=\"c n x1928 y60b2 w8e1 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">Im<span class=\"_ _0\"></span>pact o<span class=\"_ _0\"></span>n profi<span class=\"_ _0\"></span>t afte<span class=\"_ _0\"></span>r tax<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1929 y60b2 w8e2 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on e<span class=\"_ _0\"></span>quit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x192a y60b2 w8e3 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Impact on CSM<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xe85 h29 y60b3 ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>oss of </td><td class=\"t m0 x192b h29 y60b3 ff3 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t of </td><td class=\"t m0 x192c h29 y60b3 ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>oss of </td><td class=\"t m0 x192d h29 y60b3 ff3 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t of<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x729 h29 y60b3 ff3 fs5 fc3 sc0 ls1 ws1\">Gr<span class=\"_ _0\"></span>oss of </td><td class=\"t m0 x5c2 h29 y60b3 ff3 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t of<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x192e h29 y60b4 ff3 fs5 fc3 sc0 ls1 ws1\">Ch<span class=\"_ _0\"></span>ange i<span class=\"_ _0\"></span>n risk </td><td class=\"t m0 x15d5 h29 y60b4 ff3 fs5 fc3 sc0 ls65 wsc0\">reinsuran<span class=\"_ _0\"></span>ce<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x15d2 h29 y60b4 ff3 fs5 fc3 sc0 ls65 wsc0\">reinsuran<span class=\"_ _0\"></span>ce<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x164f h29 y60b4 ff3 fs5 fc3 sc0 ls65 wsc0\">reinsuran<span class=\"_ _0\"></span>ce</td><td class=\"t m0 x556 h29 y60b4 ff3 fs5 fc3 sc0 ls65 wsc0\"> reinsuran<span class=\"_ _0\"></span>ce<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x192f h29 y60b4 ff3 fs5 fc3 sc0 ls65 wsc0\">reinsuran<span class=\"_ _0\"></span>ce</td><td class=\"t m0 x1930 h29 y60b4 ff3 fs5 fc3 sc0 ls65 wsc0\"> reinsuran<span class=\"_ _0\"></span>ce<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y60b5 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1931 h29 y60b5 ff3 fs5 fc3 sc0 lsbe wsbe\">variable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x15d7 h29 y60b5 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y60b5 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y60b5 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y60b5 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y60b5 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y60b5 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c n x1932 y5e14 w8e4 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1cb ws1e3\">+5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1933 y5e14 w185 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(53)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1934 y5e14 w20b h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1935 y5e14 w185 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(53)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1936 y5e14 w20b h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1937 y5e14 w8e5 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls15c ws1ee\">(55)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1938 y5e14 w4e6 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(5<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60b6 ff2 fs6 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>surance m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality<span class=\"_ _3bd\"> </span></td><td class=\"c n x1939 y5ae3 w8e6 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">-5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x193a y5ae3 w19f h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x193b y5ae3 w1a8 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x193c y5ae3 w197 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x193d y5ae3 w96 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x193e y5ae3 w8e7 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls95 ws8e\">92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x193f y5ae3 wb2 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1932 y5ae4 w8e4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">+5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1940 y5ae4 w59b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">330<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1941 y5ae4 wfd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1942 y5ae4 w7d6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls69 ws18a\">308<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1943 y5ae4 w41a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1944 y5ae4 w8e8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">(1<span class=\"_ _0\"></span>,236<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1945 y5ae4 w8e9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">(452)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60b7 ff2 fs6 fc3 sc0 lsd wsd\">Annuitant long<span class=\"_ _0\"></span>evity<span class=\"_ _3bd\"> </span></td><td class=\"c n x1939 y5ae5 w8e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">-5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1946 y5ae5 w8e9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">(323)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1947 y5ae5 w868 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1de ws1f9\">(145<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1948 y5ae5 w17d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>03)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1949 y5ae5 w17d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x194a y5ae5 w10e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,183<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x194b y5ae5 w117 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsb5 wsb3\">433<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x194c y5b29 w605 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x194d y5b29 w8ea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(39)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x194e y5b29 w8eb h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x194f y5b29 w8ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(39)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1950 y5b29 w8ed h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1951 y5b29 w1e5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1952 y5b29 w4ef h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60b8 ff2 fs6 fc3 sc0 ls177 ws186\">Lap<span class=\"_ _0\"></span>se rate<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"c n x1953 y5ae6 w622 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1954 y5ae6 w178 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1955 y5ae6 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1956 y5ae6 w4c6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1957 y5ae6 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1958 y5ae6 w123 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1959 y5ae6 waf h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(18)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x194c y5a15 w605 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1f0 ws20f\">+1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x194d y5a15 w707 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x195a y5a15 w50b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>63)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x195b y5a15 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x195c y5a15 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x195d y5a15 w8ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>251)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x195e y5a15 w8ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">(251<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60b9 ff2 fs6 fc3 sc0 ls12 ws13\">Expenses<span class=\"_ _3bd\"> </span></td><td class=\"c n x1953 y5a16 w622 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls19a ws1ae\">-1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1954 y5a16 w19e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x195f y5a16 w195 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1960 y5a16 w195 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1961 y5a16 w195 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1962 y5a16 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1963 y5a16 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs746\"><table class=\"s w8ef h282\" id=\"_2f3eeb50-039b-470c-ab00-9b7ec8dd94b9\"><tr><td></td><td></td><td class=\"c n x1964 y60ba w8f0 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n profit af<span class=\"_ _0\"></span>ter t<span class=\"_ _0\"></span>ax<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1965 y60ba w8f1 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">Imp<span class=\"_ _0\"></span>act o<span class=\"_ _0\"></span>n equit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1966 y60ba w8f2 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">I<span class=\"_ _0\"></span>mpac<span class=\"_ _0\"></span>t on CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x124f ha y60bb ff2 fs5 fc3 sc0 ls1 ws1\">Gro<span class=\"_ _0\"></span>ss of<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1967 ha y60bb ff2 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t of<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x96e ha y60bb ff2 fs5 fc3 sc0 ls1 ws1\">Gro<span class=\"_ _0\"></span>ss of<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb13 ha y60bb ff2 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t of<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x912 ha y60bb ff2 fs5 fc3 sc0 ls1 ws1\">Gro<span class=\"_ _0\"></span>ss of<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x29d ha y60bb ff2 fs5 fc3 sc0 ls1 ws1\">Ne<span class=\"_ _0\"></span>t of<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x2e1 ha y60bc ff2 fs5 fc3 sc0 ls1 ws1\">Cha<span class=\"_ _0\"></span>nge in r<span class=\"_ _0\"></span>isk </td><td class=\"t m0 x1968 ha y60bc ff2 fs5 fc3 sc0 ls21 ws23\">reinsura<span class=\"_ _0\"></span>nce</td><td class=\"t m0 x1969 ha y60bc ff2 fs5 fc3 sc0 ls21 ws23\"> reinsura<span class=\"_ _0\"></span>nce</td><td class=\"t m0 x3ae ha y60bc ff2 fs5 fc3 sc0 ls21 ws23\"> reinsura<span class=\"_ _0\"></span>nce</td><td class=\"t m0 x96a ha y60bc ff2 fs5 fc3 sc0 ls21 ws23\"> reinsura<span class=\"_ _0\"></span>nce</td><td class=\"t m0 x3b0 ha y60bc ff2 fs5 fc3 sc0 ls21 ws23\"> reinsura<span class=\"_ _0\"></span>nce</td><td class=\"t m0 x196a ha y60bc ff2 fs5 fc3 sc0 ls21 ws23\"> reinsura<span class=\"_ _0\"></span>nce<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y60bd ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 rest<span class=\"_ _0\"></span>ated<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x196b ha y60bd ff2 fs5 fc3 sc0 ls11 ws11\">variable<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x196c ha y60bd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xd05 ha y60bd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y60bd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 ha y60bd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a ha y60bd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y60bd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"c n x196d y5e14 w8f3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">+5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x196e y5e14 w7b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(35<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x196f y5e14 w8f4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1970 y5e14 w7b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(35<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1971 y5e14 w8f5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">(36<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1972 y5e14 w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(8<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1973 y5e14 w761 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>42)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y60be ff2 fs6 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>surance m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality<span class=\"_ _3bd\"> </span></td><td class=\"c n x1974 y5e15 w8f6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">-5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1975 y5e15 w184 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1976 y5e15 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1977 y5e15 w204 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1978 y5e15 w58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1979 y5e15 wbd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">119<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x197a y5e15 w217 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x196d y5ae4 w8f3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">+5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x197b y5ae4 w8f7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x197c y5ae4 w7bb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x197d y5ae4 w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x197e y5ae4 w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">1<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x197f y5ae4 w328 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>,186)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1980 y5ae4 w7a6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(455)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y60bf ff2 fs6 fc3 sc0 lsd wsd\">Annuitant long<span class=\"_ _0\"></span>evity<span class=\"_ _3bd\"> </span></td><td class=\"c n x1974 y5ae5 w8f6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">-5%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1981 y5ae5 w8f8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1982 y5ae5 w8f9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(129)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1983 y5ae5 w634 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>228)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1984 y5ae5 w76e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(116<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1985 y5ae5 w8fa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1986 y5ae5 we1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">424<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1987 y5b29 w8fb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1f2 ws212\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1988 y5b29 w87a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(45<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1989 y5b29 w4e9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x198a y5b29 w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(45<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x198b y5b29 w61c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls2c ws179\">(46)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x198c y5b29 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x198d y5b29 w1b7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y60c0 ff2 fs6 fc3 sc0 ls177 ws186\">Lap<span class=\"_ _0\"></span>se rate<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></td><td class=\"c n x198e y5b06 w8fc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1df ws1fa\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x198f y5b06 w98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1990 y5b06 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1991 y5b06 w98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1992 y5b06 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1993 y5b06 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1994 y5b06 w20b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1987 y5a15 w8fb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1f2 ws212\">+1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1988 y5a15 w61c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(68)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1995 y5a15 w7ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1996 y5a15 w8fd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(6<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1997 y5a15 w8fe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1998 y5a15 w28c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(<span class=\"_ _0\"></span>262)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1999 y5a15 w6c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(<span class=\"_ _0\"></span>262)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y60c1 ff2 fs6 fc3 sc0 ls12 ws13\">Expenses<span class=\"_ _3bd\"> </span></td><td class=\"c n x198e y5a16 w8fc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1df ws1fa\">-1<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x199a y5a16 w19f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x199b y5a16 w19f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x199c y5a16 w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x199d y5a16 w8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x199e y5a16 w8ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6c ws1ca\">30<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x199f y5a16 w8ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6c ws1ca\">30<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs747\">The pr<span class=\"_ _0\"></span>ior year comp<span class=\"_ _0\"></span>aratives for the in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e risk sens<span class=\"_ _0\"></span>itivities have b<span class=\"_ _0\"></span>een res<span class=\"_ _0\"></span>tated.<span class=\"_ gs47\"> </span>Th<span class=\"_ _0\"></span>ese sen<span class=\"_ _0\"></span>sitivities we<span class=\"_ _0\"></span>re materially imp<span class=\"_ _0\"></span>acted by in<span class=\"_ _0\"></span>cluding the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs748\">Group\u2019s pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>es within the s<span class=\"_ _0\"></span>cope of the s<span class=\"_ _0\"></span>ensitiviti<span class=\"_ _0\"></span>es, providin<span class=\"_ _0\"></span>g a more holis<span class=\"_ _0\"></span>tic view of the imp<span class=\"_ _0\"></span>act of thes<span class=\"_ _0\"></span>e stres<span class=\"_ _0\"></span>ses on the G<span class=\"_ _0\"></span>roup, and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs749\">improvem<span class=\"_ _0\"></span>ents mad<span class=\"_ _0\"></span>e to the mode<span class=\"_ _0\"></span>lling of sensitiv<span class=\"_ _0\"></span>ities following th<span class=\"_ _0\"></span>e introduct<span class=\"_ _0\"></span>ion of IFRS 17<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs74a\">F11<span class=\"_ _0\"></span>.2 Assumptions<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs74b\">The as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s used to deter<span class=\"_ _0\"></span>mine the liabilit<span class=\"_ _0\"></span>ies are update<span class=\"_ _0\"></span>d at each rep<span class=\"_ _0\"></span>ortin<span class=\"_ _0\"></span>g date to reflec<span class=\"_ _0\"></span>t recent exp<span class=\"_ _0\"></span>erienc<span class=\"_ _0\"></span>e, unles<span class=\"_ _0\"></span>s IFRS17 re<span class=\"_ _0\"></span>quires other<span class=\"_ _0\"></span>wise<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs74c\">Mater<span class=\"_ _0\"></span>ial judge<span class=\"_ _0\"></span>ment is req<span class=\"_ _0\"></span>uired in calc<span class=\"_ _0\"></span>ulating the<span class=\"_ _0\"></span>se liabilities a<span class=\"_ _0\"></span>nd, in par<span class=\"_ _0\"></span>ticular, in the cho<span class=\"_ _0\"></span>ice of assum<span class=\"_ _0\"></span>ptions abou<span class=\"_ _0\"></span>t which there is un<span class=\"_ _0\"></span>cer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs74d\">future e<span class=\"_ _0\"></span>xperien<span class=\"_ _0\"></span>ce. The pr<span class=\"_ _0\"></span>incipal as<span class=\"_ _0\"></span>sumptions are a<span class=\"_ _0\"></span>s follows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs74e\">F11<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>2.1 Dis<span class=\"_ _0\"></span>count r<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs74f\">All ca<span class=\"_ _0\"></span>sh flows are disc<span class=\"_ _0\"></span>ounted usin<span class=\"_ _0\"></span>g risk<span class=\"_ _2\"></span>-fre<span class=\"_ _0\"></span>e yield cur<span class=\"_ _0\"></span>ves adj<span class=\"_ _0\"></span>usted to refle<span class=\"_ _0\"></span>ct the tim<span class=\"_ _0\"></span>ing and liquidit<span class=\"_ _0\"></span>y cha<span class=\"_ _0\"></span>racteris<span class=\"_ _0\"></span>tics of th<span class=\"_ _0\"></span>ose cas<span class=\"_ _0\"></span>h flows. For th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs750\">risk-free yiel<span class=\"_ _0\"></span>d curve the G<span class=\"_ _0\"></span>roup uses th<span class=\"_ _0\"></span>ose publis<span class=\"_ _0\"></span>hed by the PR<span class=\"_ _0\"></span>A and EI<span class=\"_ _0\"></span>OP<span class=\"_ _2\"></span>A for reg<span class=\"_ _0\"></span>ulator<span class=\"_ _0\"></span>y repor<span class=\"_ _0\"></span>ting. Wh<span class=\"_ _0\"></span>ere nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y, yield cur<span class=\"_ _0\"></span>ves are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs751\">interpo<span class=\"_ _0\"></span>lated bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e last availab<span class=\"_ _0\"></span>le market data point a<span class=\"_ _0\"></span>nd the ultimate for<span class=\"_ _0\"></span>ward rate<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs752\">The Gro<span class=\"_ _0\"></span>up uses a top<span class=\"_ _0\"></span>-down appro<span class=\"_ _0\"></span>ach primaril<span class=\"_ _0\"></span>y for annuitie<span class=\"_ _0\"></span>s and a bot<span class=\"_ _0\"></span>tom-up disc<span class=\"_ _0\"></span>ount rate for all other b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s. Unde<span class=\"_ _0\"></span>r the top-d<span class=\"_ _0\"></span>own approac<span class=\"_ _0\"></span>h, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs753\">the dis<span class=\"_ _0\"></span>count rate is dete<span class=\"_ _0\"></span>rmined from th<span class=\"_ _0\"></span>e yield implic<span class=\"_ _0\"></span>it in the fair value of an a<span class=\"_ _0\"></span>ppropriate refere<span class=\"_ _0\"></span>nce por<span class=\"_ _0\"></span>tfolio of as<span class=\"_ _0\"></span>sets t<span class=\"_ _0\"></span>hat reflec<span class=\"_ _0\"></span>ts the ch<span class=\"_ _0\"></span>aracter<span class=\"_ _0\"></span>istics </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs754\">of the liabilit<span class=\"_ _0\"></span>ies.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs755\">For annui<span class=\"_ _0\"></span>ty bus<span class=\"_ _0\"></span>iness<span class=\"_ _0\"></span>, the Group d<span class=\"_ _0\"></span>etermines a refere<span class=\"_ _0\"></span>nce por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o which is cons<span class=\"_ _0\"></span>truc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in line with the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s inves<span class=\"_ _0\"></span>tment str<span class=\"_ _0\"></span>ategy. The referen<span class=\"_ _0\"></span>ce </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs756\">por<span class=\"_ _0\"></span>tfolio c<span class=\"_ _0\"></span>onstr<span class=\"_ _0\"></span>uction is b<span class=\"_ _0\"></span>ased on th<span class=\"_ _0\"></span>e actua<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s held by the G<span class=\"_ _0\"></span>roup backin<span class=\"_ _0\"></span>g annuit<span class=\"_ _0\"></span>y busine<span class=\"_ _0\"></span>ss at the valu<span class=\"_ _0\"></span>ation date. Adj<span class=\"_ _0\"></span>ustment i<span class=\"_ _0\"></span>s made, wh<span class=\"_ _0\"></span>ere </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs757\">approp<span class=\"_ _0\"></span>riate, to allow for the a<span class=\"_ _0\"></span>sset p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio include<span class=\"_ _0\"></span>d in the pricin<span class=\"_ _0\"></span>g of policies wh<span class=\"_ _0\"></span>ere that has n<span class=\"_ _0\"></span>ot been f<span class=\"_ _0\"></span>ully deployed at t<span class=\"_ _0\"></span>he repor<span class=\"_ _0\"></span>ting date an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs758\">there a<span class=\"_ _0\"></span>re no identifie<span class=\"_ _0\"></span>d barrier<span class=\"_ _0\"></span>s to achieving th<span class=\"_ _0\"></span>e pricing as<span class=\"_ _0\"></span>set mix<span class=\"_ _0\"></span>, to reflec<span class=\"_ _0\"></span>t any strateg<span class=\"_ _0\"></span>ic manag<span class=\"_ _0\"></span>ement ac<span class=\"_ _0\"></span>tions ac<span class=\"_ _0\"></span>tively unde<span class=\"_ _0\"></span>rway to re-<span class=\"_ _0\"></span>shape th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs759\">annuit<span class=\"_ _0\"></span>y as<span class=\"_ _0\"></span>set por<span class=\"_ _0\"></span>tfolio. I<span class=\"_ _0\"></span>n addition<span class=\"_ _0\"></span>, excess a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are removed from th<span class=\"_ _0\"></span>e por<span class=\"_ _0\"></span>tfolio whe<span class=\"_ _0\"></span>re the level of ass<span class=\"_ _0\"></span>ets exce<span class=\"_ _0\"></span>eds thos<span class=\"_ _0\"></span>e nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y to mee<span class=\"_ _0\"></span>t the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs75a\">future c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>. The yiel<span class=\"_ _0\"></span>d derived from t<span class=\"_ _0\"></span>he reference p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio is determin<span class=\"_ _0\"></span>ed bas<span class=\"_ _0\"></span>ed on the fair v<span class=\"_ _0\"></span>alue of asse<span class=\"_ _0\"></span>ts in that cla<span class=\"_ _0\"></span>ss held by th<span class=\"_ _0\"></span>e Group at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls12b ws3c gs75b\">the valuation date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs75c\">Adju<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s are also ma<span class=\"_ _0\"></span>de for differe<span class=\"_ _0\"></span>nces be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n the referenc<span class=\"_ _0\"></span>e port<span class=\"_ _0\"></span>folio and th<span class=\"_ _0\"></span>e insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t liabilit<span class=\"_ _0\"></span>y cash fl<span class=\"_ _0\"></span>ows, inc<span class=\"_ _0\"></span>luding an allowan<span class=\"_ _0\"></span>ce </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs75d\">for cre<span class=\"_ _0\"></span>dit defaults<span class=\"_ _0\"></span>. The cre<span class=\"_ _0\"></span>dit default de<span class=\"_ _0\"></span>duction c<span class=\"_ _0\"></span>omprise<span class=\"_ _0\"></span>s an allowance fo<span class=\"_ _0\"></span>r both expe<span class=\"_ _0\"></span>cted and un<span class=\"_ _0\"></span>expec<span class=\"_ _0\"></span>ted default<span class=\"_ _0\"></span>s and takes into con<span class=\"_ _0\"></span>siderati<span class=\"_ _0\"></span>on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws34 gs75e\">long<span class=\"_ _0\"></span>-term historic<span class=\"_ _0\"></span>al data on a<span class=\"_ _0\"></span>ctual def<span class=\"_ _0\"></span>aults an<span class=\"_ _0\"></span>d an allowance for v<span class=\"_ _0\"></span>ariabilit<span class=\"_ _0\"></span>y around the<span class=\"_ _0\"></span>se default<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>redit default d<span class=\"_ _0\"></span>educt<span class=\"_ _0\"></span>ion is determine<span class=\"_ _0\"></span>d base<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs75f\">on the a<span class=\"_ _0\"></span>ssets h<span class=\"_ _0\"></span>eld at the val<span class=\"_ _0\"></span>uation date.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs760\">The Gro<span class=\"_ _0\"></span>up has develo<span class=\"_ _0\"></span>ped a cre<span class=\"_ _0\"></span>dit model for u<span class=\"_ _0\"></span>se in the Pho<span class=\"_ _0\"></span>enix Solve<span class=\"_ _0\"></span>ncy II Inte<span class=\"_ _0\"></span>rnal Mod<span class=\"_ _0\"></span>el (subjec<span class=\"_ _0\"></span>t to PRA a<span class=\"_ _0\"></span>pproval) which als<span class=\"_ _0\"></span>o provides a be<span class=\"_ _0\"></span>st </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs761\">es<span class=\"_ _0\"></span>timate view of credit d<span class=\"_ _0\"></span>efaults<span class=\"_ _0\"></span>. This mod<span class=\"_ _0\"></span>el applies a s<span class=\"_ _0\"></span>tress to lon<span class=\"_ _0\"></span>g-term his<span class=\"_ _0\"></span>torical ac<span class=\"_ _0\"></span>tual defa<span class=\"_ _0\"></span>ult data to determ<span class=\"_ _0\"></span>ine the variabili<span class=\"_ _0\"></span>ty of defaul<span class=\"_ _0\"></span>ts and ha<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs762\">be<span class=\"_ _0\"></span>en used a<span class=\"_ _0\"></span>s an input in determ<span class=\"_ _0\"></span>ining the as<span class=\"_ _0\"></span>sumption for unex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d credit def<span class=\"_ _0\"></span>aults.  </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls5e ws1 gs763\">The top<span class=\"_ _0\"></span>-down appro<span class=\"_ _0\"></span>ach was refine<span class=\"_ _0\"></span>d as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023. T<span class=\"_ _0\"></span>his refineme<span class=\"_ _0\"></span>nt related to the de<span class=\"_ _0\"></span>termination of th<span class=\"_ _0\"></span>e yield use<span class=\"_ _0\"></span>d in relation to the Equi<span class=\"_ _0\"></span>ty </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls5e ws1 gs764\">Rele<span class=\"_ _0\"></span>ase Mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es ass<span class=\"_ _0\"></span>et class<span class=\"_ _0\"></span>. The previ<span class=\"_ _0\"></span>ous approa<span class=\"_ _0\"></span>ch calc<span class=\"_ _0\"></span>ulated the yie<span class=\"_ _0\"></span>ld by reference to th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnal se<span class=\"_ _0\"></span>curitisatio<span class=\"_ _0\"></span>n struc<span class=\"_ _0\"></span>ture est<span class=\"_ _0\"></span>ablishe<span class=\"_ _0\"></span>d for this ass<span class=\"_ _0\"></span>et </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls5e ws1 gs765\">clas<span class=\"_ _0\"></span>s for Solven<span class=\"_ _0\"></span>cy II purp<span class=\"_ _0\"></span>oses<span class=\"_ _0\"></span>. This was am<span class=\"_ _0\"></span>ended a<span class=\"_ _0\"></span>s at the repor<span class=\"_ _0\"></span>ting date to de<span class=\"_ _0\"></span>termine the yie<span class=\"_ _0\"></span>ld base<span class=\"_ _0\"></span>d on the under<span class=\"_ _0\"></span>lying Equit<span class=\"_ _0\"></span>y Relea<span class=\"_ _0\"></span>se Mor<span class=\"_ _0\"></span>tgage<span class=\"_ _0\"></span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls5e ws1 gs766\">loan<span class=\"_ _0\"></span>s themse<span class=\"_ _0\"></span>lves. This re<span class=\"_ _0\"></span>finement h<span class=\"_ _0\"></span>ad the impac<span class=\"_ _0\"></span>t of increas<span class=\"_ _0\"></span>ing the liquidit<span class=\"_ _0\"></span>y premi<span class=\"_ _0\"></span>um applied at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2023 for G<span class=\"_ _0\"></span>BP Annuitie<span class=\"_ _0\"></span>s by circa 1<span class=\"_ _0\"></span>9bps<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs768\">Unde<span class=\"_ _0\"></span>r the bot<span class=\"_ _0\"></span>tom-up appro<span class=\"_ _0\"></span>ach, th<span class=\"_ _0\"></span>e discount ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e i<span class=\"_ _0\"></span>s determine<span class=\"_ _0\"></span>d as the risk-free yield c<span class=\"_ _0\"></span>urve, a<span class=\"_ _0\"></span>djuste<span class=\"_ _0\"></span>d for differe<span class=\"_ _0\"></span>nces in liquidi<span class=\"_ _0\"></span>ty ch<span class=\"_ _0\"></span>aracter<span class=\"_ _0\"></span>istics by </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs769\">addin<span class=\"_ _0\"></span>g an illiquidit<span class=\"_ _0\"></span>y premium. Fo<span class=\"_ _0\"></span>r with-profits b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s a single illiquidi<span class=\"_ _0\"></span>ty prem<span class=\"_ _0\"></span>ium is determine<span class=\"_ _0\"></span>d for each f<span class=\"_ _0\"></span>und base<span class=\"_ _0\"></span>d on the ca<span class=\"_ _0\"></span>sh flow </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs76a\">char<span class=\"_ _0\"></span>acteris<span class=\"_ _0\"></span>tics of the c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s within the f<span class=\"_ _0\"></span>und and appli<span class=\"_ _0\"></span>ed to all contra<span class=\"_ _0\"></span>cts with<span class=\"_ _0\"></span>in the fund. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs76b\">The t<span class=\"_ _0\"></span>ables be<span class=\"_ _0\"></span>low set out the y<span class=\"_ _0\"></span>ield cur<span class=\"_ _0\"></span>ves used to di<span class=\"_ _0\"></span>scount the c<span class=\"_ _0\"></span>ash flows of ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s for maj<span class=\"_ _0\"></span>or currencie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"gs76c\"><table class=\"s w900 h283\" id=\"_043964a1-dd8b-4691-9453-fd08b7b453e2\"><tr><td></td><td></td><td></td><td class=\"t m0 x19a0 h29 y60c2 ff3 fs5 fc3 sc0 lsa6 wsa1\">Risk-free rate (bps)<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y60c3 w56b h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a1 y60c3 w901 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a2 y60c3 w902 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">5 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a3 y60c3 w903 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">10 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a4 y60c3 w6f1 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">20 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a5 y60c3 w6f2 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls1 ws1\">30 yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w904 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">GB<span class=\"_ _0\"></span>P<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a6 y5a15 w46 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">446<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a7 y5a15 w905 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls77 ws34\">404<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a8 y5a15 w2b2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">4<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a9 y5a15 wd3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1572 y5a15 w1c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w906 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19aa y5a16 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">224<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ab y5a16 w277 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ac y5a16 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">227<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ad y5a16 w3f4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">226<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf17 y5a16 w557 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs76d\"><table class=\"s w907 h284\" id=\"_062c17ff-6b88-409a-be2d-e07651b3c492\"><tr><td></td><td></td><td></td><td class=\"t m0 x19ae ha y60c4 ff2 fs5 fc3 sc0 lsa8 wsa3\">Risk-<span class=\"_ _2\"></span>free rate (bps<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y60c5 w468 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19af y60c5 w908 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b0 y60c5 w909 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">5 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b1 y60c5 w90a h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">1<span class=\"_ _0\"></span>0 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b2 y60c5 w90b h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">20 ye<span class=\"_ _0\"></span>ars<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b3 y60c5 w90c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">30 y<span class=\"_ _0\"></span>ears<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60c6 w904 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">GB<span class=\"_ _0\"></span>P<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b4 y60c6 w90d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">474<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b5 y60c6 w55d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">336<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b6 y60c6 w2d8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">328<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b7 y60c6 w14e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">343<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b8 y60c6 w4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3<span class=\"_ _0\"></span>36<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w906 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Euro<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19aa y5b4c w501 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">336<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19b9 y5b4c wd2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">232<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ba y5b4c w6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">239<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19bb y5b4c w530 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19bc y5b4c wca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs76e\"><table class=\"s w26d h285\" id=\"_a032c3f4-18b8-4968-9837-83a7eddf531a\"><tr><td></td><td></td><td class=\"t m0 x557 h29 y60c7 ff3 fs5 fc3 sc0 lsbe wsbe\">Liquidity premium<span class=\"_ _2\"></span> over risk<span class=\"_ _2\"></span>-free rate<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x1cd ha y60c8 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y60c9 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x19bf y60ca w90e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsa4 ws9f\">(res<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x19bd h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div><div class=\"t m0 x19be ha y59ee ff2 fs5 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x55b h29 y60cb ff3 fs5 fc3 sc0 lsa8 wsa3\">bps<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x55c ha y60cc ff2 fs5 fc3 sc0 lsa8 wsa3\">bps<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae5 w90f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Annuities GB<span class=\"_ _0\"></span>P<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa90 y5ae5 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">169<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc y5ae5 w67 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w910 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Annuit<span class=\"_ _0\"></span>ies Euro<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c0 y5b29 w11a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">67<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c1 y5b29 w123 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 w911 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">With-p<span class=\"_ _0\"></span>rofits GBP \u2013 li<span class=\"_ _0\"></span>quid liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e7 y5b06 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c2 y5b06 w2a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a w912 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">With-p<span class=\"_ _0\"></span>rofits Euro \u2013 liquid liab<span class=\"_ _0\"></span>ilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c3 y5b2a w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c4 y5b2a w2a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w913 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">With-p<span class=\"_ _0\"></span>rofits GBP \u2013 illi<span class=\"_ _0\"></span>quid liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c5 y5a16 w914 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls19a ws1ae\">10<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>-1<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c6 y5a16 w915 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1df ws1fa\">1<span class=\"_ _1\"></span>0<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>-1<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs76f\">1 <span class=\"_ _9\"> </span>The Li<span class=\"_ _0\"></span>quidi<span class=\"_ _0\"></span>ty pre<span class=\"_ _0\"></span>mium fo<span class=\"_ _0\"></span>r annui<span class=\"_ _0\"></span>ties an<span class=\"_ _0\"></span>d with-<span class=\"_ _0\"></span>profit<span class=\"_ _0\"></span>s were up<span class=\"_ _0\"></span>date<span class=\"_ _0\"></span>d follow<span class=\"_ _0\"></span>ing a revi<span class=\"_ _0\"></span>sion to c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain inp<span class=\"_ _0\"></span>uts int<span class=\"_ _0\"></span>o the IFR<span class=\"_ _0\"></span>S 17 val<span class=\"_ _0\"></span>uation p<span class=\"_ _0\"></span>roce<span class=\"_ _0\"></span>ss<span class=\"_ _0\"></span>. See n<span class=\"_ _0\"></span>ote A3 for de<span class=\"_ _0\"></span>tails o<span class=\"_ _0\"></span>f the pri<span class=\"_ _0\"></span>or year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>teme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs770\">F11.2<span class=\"_ _0\"></span>.2 Risk adj<span class=\"_ _2\"></span>ustment<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs771\">The Gro<span class=\"_ _0\"></span>up has use<span class=\"_ _0\"></span>d the confid<span class=\"_ _0\"></span>ence level te<span class=\"_ _0\"></span>chnique to de<span class=\"_ _0\"></span>rive the risk ad<span class=\"_ _0\"></span>justm<span class=\"_ _0\"></span>ent for non-fin<span class=\"_ _0\"></span>ancial risk<span class=\"_ _0\"></span>. The risk a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment perc<span class=\"_ _0\"></span>entile is determ<span class=\"_ _0\"></span>ined </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs772\">bas<span class=\"_ _0\"></span>ed on the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s view of the c<span class=\"_ _0\"></span>ompen<span class=\"_ _0\"></span>sation requ<span class=\"_ _0\"></span>ired in respe<span class=\"_ _0\"></span>ct of non-<span class=\"_ _0\"></span>financial ri<span class=\"_ _0\"></span>sk. The dive<span class=\"_ _0\"></span>rsificati<span class=\"_ _0\"></span>on benefit in<span class=\"_ _0\"></span>cluded in th<span class=\"_ _0\"></span>e risk adj<span class=\"_ _0\"></span>ustment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs773\">refle<span class=\"_ _0\"></span>cts diver<span class=\"_ _0\"></span>sification b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en contra<span class=\"_ _0\"></span>cts within t<span class=\"_ _0\"></span>he perime<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s Internal Mo<span class=\"_ _0\"></span>del. The<span class=\"_ _0\"></span>re is no divers<span class=\"_ _0\"></span>ification allowe<span class=\"_ _0\"></span>d for bet<span class=\"_ _0\"></span>ween </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs774\">contr<span class=\"_ _0\"></span>acts m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d under st<span class=\"_ _0\"></span>andard form<span class=\"_ _0\"></span>ula and the intern<span class=\"_ _0\"></span>al model<span class=\"_ _0\"></span>. The confid<span class=\"_ _0\"></span>ence level p<span class=\"_ _0\"></span>ercentile is c<span class=\"_ _0\"></span>alculate<span class=\"_ _0\"></span>d on a one-<span class=\"_ _0\"></span>year basis<span class=\"_ _0\"></span>. The risk </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs775\">adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nt calibratio<span class=\"_ _0\"></span>n is set at leas<span class=\"_ _0\"></span>t annuall<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, off-c<span class=\"_ _0\"></span>ycle, bas<span class=\"_ _0\"></span>ed on the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s curre<span class=\"_ _0\"></span>nt view of risk. T<span class=\"_ _0\"></span>he risk adj<span class=\"_ _0\"></span>ustment c<span class=\"_ _0\"></span>alculati<span class=\"_ _0\"></span>on is<span class=\"_ gs47\"> </span>reass<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>d at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs776\">eac<span class=\"_ _0\"></span>h repor<span class=\"_ _0\"></span>ting date, i.e<span class=\"_ _0\"></span>. the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt is not locked-in at in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs777\">For with-p<span class=\"_ _0\"></span>rofits busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>, the shareh<span class=\"_ _0\"></span>older\u2019s por<span class=\"_ _0\"></span>tion of non-fi<span class=\"_ _0\"></span>nancial ri<span class=\"_ _0\"></span>sks (including a<span class=\"_ _0\"></span>n allowance for b<span class=\"_ _0\"></span>urn-through c<span class=\"_ _0\"></span>osts to th<span class=\"_ _0\"></span>e shareh<span class=\"_ _0\"></span>older) is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs778\">allowed fo<span class=\"_ _0\"></span>r in the derivatio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e risk adj<span class=\"_ _0\"></span>ustment<span class=\"_ _0\"></span>. For non-profit b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s held within a wi<span class=\"_ _0\"></span>th-profits f<span class=\"_ _0\"></span>und, the ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment takes into ac<span class=\"_ _0\"></span>count the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs779\">comp<span class=\"_ _0\"></span>ensatio<span class=\"_ _0\"></span>n required by b<span class=\"_ _0\"></span>oth the shareh<span class=\"_ _0\"></span>older an<span class=\"_ _0\"></span>d the par<span class=\"_ _0\"></span>ticipating p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs77a\">Confi<span class=\"_ _0\"></span>dence leve<span class=\"_ _0\"></span>l t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>chnique<span class=\"_ _0\"></span>s are used to de<span class=\"_ _0\"></span>rive the overall ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment for non<span class=\"_ _0\"></span>-financia<span class=\"_ _0\"></span>l risk and this is a<span class=\"_ _0\"></span>llocate<span class=\"_ _0\"></span>d down to each gro<span class=\"_ _0\"></span>up of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs77b\">contr<span class=\"_ _0\"></span>acts in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with their r<span class=\"_ _0\"></span>isk profiles<span class=\"_ _0\"></span>. The confid<span class=\"_ _0\"></span>ence level p<span class=\"_ _0\"></span>ercentile inp<span class=\"_ _0\"></span>ut used to d<span class=\"_ _0\"></span>etermine the ris<span class=\"_ _0\"></span>k adjus<span class=\"_ _0\"></span>tment is as foll<span class=\"_ _0\"></span>ows:<span class=\"_ _3bd\"> </span></div><div class=\"gs77c\"><table class=\"s w916 h286\" id=\"_85d36eb1-d483-4879-b588-37aba40406dc\"><tr><td></td><td class=\"c n x19c7 y60cd w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c8 y60cd w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w917 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s (gross of rein<span class=\"_ _0\"></span>surance)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c9 y5a16 w918 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">80<span class=\"_ _0\"></span>th<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ca y5a16 w919 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">80<span class=\"_ _0\"></span>th<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs77d\">The on<span class=\"_ _0\"></span>e year confide<span class=\"_ _0\"></span>nce level us<span class=\"_ _0\"></span>ed to determin<span class=\"_ _0\"></span>e the risk ad<span class=\"_ _0\"></span>justme<span class=\"_ _0\"></span>nt has be<span class=\"_ _0\"></span>en conver<span class=\"_ _0\"></span>ted to an approxim<span class=\"_ _0\"></span>ate lifetime confid<span class=\"_ _0\"></span>ence level us<span class=\"_ _0\"></span>ing an </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs77e\">appro<span class=\"_ _0\"></span>ach which involves di<span class=\"_ _0\"></span>viding by the squ<span class=\"_ _0\"></span>are root of the lifetime dur<span class=\"_ _0\"></span>ation of the insur<span class=\"_ _0\"></span>ance bus<span class=\"_ _0\"></span>iness<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs77f\"><table class=\"s w91a h287\" id=\"_b9f30bb7-59d0-4f4e-992d-fa31fa894506\"><tr><td class=\"c n x1d4 y60ce w91b h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">Lifetime<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>on<span class=\"_ _2\"></span>fiden<span class=\"_ _0\"></span>ce<span class=\"_ _2\"></span> level<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19cb y60ce w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19cc y60ce w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w917 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s (gross of rein<span class=\"_ _0\"></span>surance)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19cd y5b4c w91c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">61s<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ce y5b4c w91d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">61<span class=\"_ _0\"></span>s<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs780\">F11.<span class=\"_ _0\"></span>2.<span class=\"_ _0\"></span>3<span class=\"_ _2\"></span> Ot<span class=\"_ _0\"></span>her<span class=\"_ _2\"></span> assumptions<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs781\">Oth<span class=\"_ _0\"></span>er ass<span class=\"_ _0\"></span>umptions suc<span class=\"_ _0\"></span>h as policyh<span class=\"_ _0\"></span>older be<span class=\"_ _0\"></span>haviours (l<span class=\"_ _0\"></span>apses an<span class=\"_ _0\"></span>d surrender r<span class=\"_ _0\"></span>ates), expens<span class=\"_ _0\"></span>e inflation an<span class=\"_ _0\"></span>d demogr<span class=\"_ _0\"></span>aphic as<span class=\"_ _0\"></span>sumptions (i.e<span class=\"_ _0\"></span>. longevit<span class=\"_ _0\"></span>y, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs782\">mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y) are a k<span class=\"_ _2\"></span>ey c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>termining the c<span class=\"_ _0\"></span>ash flows re<span class=\"_ _0\"></span>lated to the ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract lia<span class=\"_ _0\"></span>bilities. T<span class=\"_ _0\"></span>he under<span class=\"_ _0\"></span>writing ris<span class=\"_ _0\"></span>k variables a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs783\">as<span class=\"_ _0\"></span>sumptions are s<span class=\"_ _0\"></span>et base<span class=\"_ _0\"></span>d on past ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>e and/<span class=\"_ _2\"></span>or releva<span class=\"_ _0\"></span>nt industr<span class=\"_ _0\"></span>y data<span class=\"_ _0\"></span>, market prac<span class=\"_ _0\"></span>tice, re<span class=\"_ _0\"></span>gulations a<span class=\"_ _0\"></span>nd expec<span class=\"_ _0\"></span>tations a<span class=\"_ _0\"></span>bout fut<span class=\"_ _0\"></span>ure trends<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs784\">Econo<span class=\"_ _0\"></span>mic assum<span class=\"_ _0\"></span>ptions use<span class=\"_ _0\"></span>d in the mea<span class=\"_ _0\"></span>surement of fulfilm<span class=\"_ _0\"></span>ent cash fl<span class=\"_ _0\"></span>ows are market cons<span class=\"_ _0\"></span>istent.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs785\">Expenses and<span class=\"_ _2\"></span> expense in<span class=\"_ _2\"></span>flation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs786\">Insur<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>ntract liab<span class=\"_ _0\"></span>ilities inclu<span class=\"_ _0\"></span>de an allowanc<span class=\"_ _0\"></span>e for the bes<span class=\"_ _0\"></span>t estim<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>uture expen<span class=\"_ _0\"></span>ses as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the admin<span class=\"_ _0\"></span>istration of in-forc<span class=\"_ _0\"></span>e policies<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs787\">This re<span class=\"_ _0\"></span>quires the allo<span class=\"_ _0\"></span>cation of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s fut<span class=\"_ _0\"></span>ure expens<span class=\"_ _0\"></span>es bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>ose that rel<span class=\"_ _0\"></span>ate t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e administ<span class=\"_ _0\"></span>ration of in-force poli<span class=\"_ _0\"></span>cies, th<span class=\"_ _0\"></span>ose at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs788\">the ac<span class=\"_ _0\"></span>quisition of new b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s and other c<span class=\"_ _0\"></span>osts<span class=\"_ _0\"></span>, such as c<span class=\"_ _0\"></span>orporate c<span class=\"_ _0\"></span>osts<span class=\"_ _0\"></span>. There is a le<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f j<span class=\"_ _0\"></span>udgem<span class=\"_ _0\"></span>ent applied in t<span class=\"_ _0\"></span>he analysi<span class=\"_ _0\"></span>s that suppo<span class=\"_ _0\"></span>rts th<span class=\"_ _0\"></span>is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs789\">alloc<span class=\"_ _0\"></span>ation. Ad<span class=\"_ _0\"></span>ditionally, judg<span class=\"_ _0\"></span>ement is app<span class=\"_ _0\"></span>lied in the dete<span class=\"_ _0\"></span>rmination of the pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d cost<span class=\"_ _0\"></span>s of the Group, in pa<span class=\"_ _0\"></span>rticul<span class=\"_ _0\"></span>ar where tho<span class=\"_ _0\"></span>se proje<span class=\"_ _0\"></span>ctions in<span class=\"_ _0\"></span>clude </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs78a\">the impac<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span> of transition an<span class=\"_ _0\"></span>d i<span class=\"_ _2\"></span>nteg<span class=\"_ _0\"></span>ration activity.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs78b\">E<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s are ass<span class=\"_ _0\"></span>umed to incre<span class=\"_ _0\"></span>ase at eith<span class=\"_ _0\"></span>er the rate of incre<span class=\"_ _0\"></span>ase in the Ret<span class=\"_ _0\"></span>ail Price Ind<span class=\"_ _0\"></span>ex (\u2018R<span class=\"_ _0\"></span>PI\u2019<span class=\"_ _0\"></span>), or a rate deri<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d from the UK in<span class=\"_ _0\"></span>flation swap<span class=\"_ _0\"></span>s curve, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs78c\">plus fixe<span class=\"_ _0\"></span>d margins in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with the var<span class=\"_ _0\"></span>ious mana<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nt serv<span class=\"_ _0\"></span>ice agre<span class=\"_ _0\"></span>ements (<span class=\"_ _0\"></span>\u2018MS<span class=\"_ _0\"></span>As\u2019) the G<span class=\"_ _0\"></span>roup has in pla<span class=\"_ _0\"></span>ce with out<span class=\"_ _0\"></span>source pa<span class=\"_ _0\"></span>rtne<span class=\"_ _0\"></span>rs. For </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs78d\">with-p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>ts busine<span class=\"_ _0\"></span>ss the rate of R<span class=\"_ _0\"></span>PI inflation is dete<span class=\"_ _0\"></span>rmined wit<span class=\"_ _0\"></span>hin each s<span class=\"_ _0\"></span>tochas<span class=\"_ _0\"></span>tic scen<span class=\"_ _0\"></span>ario. For other b<span class=\"_ _0\"></span>usiness i<span class=\"_ _0\"></span>t is base<span class=\"_ _0\"></span>d on the Bank of Eng<span class=\"_ _0\"></span>land </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs78e\">inflation s<span class=\"_ _0\"></span>pot cur<span class=\"_ _0\"></span>ve. For MSAs with c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>tual incre<span class=\"_ _0\"></span>ases set by refe<span class=\"_ _0\"></span>rence to nati<span class=\"_ _0\"></span>onal averag<span class=\"_ _0\"></span>e earning<span class=\"_ _0\"></span>s inflation, t<span class=\"_ _0\"></span>his is approximate<span class=\"_ _0\"></span>d as RPI infla<span class=\"_ _0\"></span>tion </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs78f\">or RP<span class=\"_ _0\"></span>I inflation plus 1%<span class=\"_ _0\"></span>. In ins<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s in which inflatio<span class=\"_ _0\"></span>n risk is not mitig<span class=\"_ _0\"></span>ated, app<span class=\"_ _0\"></span>ropriate margin<span class=\"_ _0\"></span>s are applie<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o refl<span class=\"_ _0\"></span>ect ce<span class=\"_ _0\"></span>ntral expe<span class=\"_ _0\"></span>ctatio<span class=\"_ _0\"></span>ns of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs790\">earnin<span class=\"_ _0\"></span>gs inflation in exc<span class=\"_ _0\"></span>ess of RP<span class=\"_ _0\"></span>I.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs792\">Mor<span class=\"_ _0\"></span>tal<span class=\"_ _0\"></span>ity an<span class=\"_ _0\"></span>d long<span class=\"_ _0\"></span>evity r<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs793\">Mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y rates are b<span class=\"_ _0\"></span>ased on c<span class=\"_ _0\"></span>ompany exp<span class=\"_ _0\"></span>erience a<span class=\"_ _0\"></span>nd publish<span class=\"_ _0\"></span>ed table<span class=\"_ _0\"></span>s, ad<span class=\"_ _0\"></span>justed a<span class=\"_ _0\"></span>ppropriatel<span class=\"_ _0\"></span>y to tak<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>ccount of ch<span class=\"_ _0\"></span>anges in th<span class=\"_ _0\"></span>e underlyin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs794\">pop<span class=\"_ _0\"></span>ulation mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y since th<span class=\"_ _0\"></span>e table was p<span class=\"_ _0\"></span>ublishe<span class=\"_ _0\"></span>d, compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>e and forec<span class=\"_ _0\"></span>ast ch<span class=\"_ _0\"></span>anges in f<span class=\"_ _0\"></span>uture mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Wh<span class=\"_ _0\"></span>ere appropri<span class=\"_ _0\"></span>ate, a margin </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs795\">is<span class=\"_ gs47\"> </span>add<span class=\"_ _0\"></span>ed to ass<span class=\"_ _0\"></span>urance mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty rate<span class=\"_ _0\"></span>s to allow for advers<span class=\"_ _0\"></span>e future devia<span class=\"_ _0\"></span>tions. An<span class=\"_ _0\"></span>nuitant mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y rates a<span class=\"_ _0\"></span>re adjus<span class=\"_ _0\"></span>ted to make allowanc<span class=\"_ _0\"></span>e for future </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs796\">improvem<span class=\"_ _0\"></span>ents in pen<span class=\"_ _0\"></span>sioner lon<span class=\"_ _0\"></span>gevit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs797\">Lapse and sur<span class=\"_ _2\"></span>render rates (persistency<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs798\">The as<span class=\"_ _0\"></span>sume<span class=\"_ _0\"></span>d rates for surren<span class=\"_ _0\"></span>der and volunt<span class=\"_ _0\"></span>ary pre<span class=\"_ _0\"></span>mium discont<span class=\"_ _0\"></span>inuance d<span class=\"_ _0\"></span>epend on th<span class=\"_ _0\"></span>e length of tim<span class=\"_ _0\"></span>e a policy h<span class=\"_ _0\"></span>as been in forc<span class=\"_ _0\"></span>e and the rel<span class=\"_ _0\"></span>evant </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs799\">comp<span class=\"_ _0\"></span>any experie<span class=\"_ _0\"></span>nce. Sur<span class=\"_ _0\"></span>render or volunt<span class=\"_ _0\"></span>ary p<span class=\"_ _0\"></span>remium disco<span class=\"_ _0\"></span>ntinuance<span class=\"_ _0\"></span>s are only as<span class=\"_ _0\"></span>sumed for re<span class=\"_ _0\"></span>alistic b<span class=\"_ _0\"></span>asis funds<span class=\"_ _0\"></span>. Withdra<span class=\"_ _0\"></span>wal rates use<span class=\"_ _0\"></span>d in the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs79a\">valuati<span class=\"_ _0\"></span>on of with-profits p<span class=\"_ _0\"></span>olicies are b<span class=\"_ _0\"></span>ased on ob<span class=\"_ _0\"></span>ser<span class=\"_ _0\"></span>ved experi<span class=\"_ _0\"></span>ence and a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>ted when it is c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d that fut<span class=\"_ _0\"></span>ure policyho<span class=\"_ _0\"></span>lder beh<span class=\"_ _0\"></span>aviour will be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs79b\">influen<span class=\"_ _0\"></span>ced by dif<span class=\"_ _0\"></span>ferent cons<span class=\"_ _0\"></span>ideration<span class=\"_ _0\"></span>s than in the pa<span class=\"_ _0\"></span>st. In pa<span class=\"_ _0\"></span>rticul<span class=\"_ _0\"></span>ar<span class=\"_ _2\"></span>, it is as<span class=\"_ _0\"></span>sumed th<span class=\"_ _0\"></span>at withdrawa<span class=\"_ _0\"></span>l rates for unitis<span class=\"_ _0\"></span>ed with-profit<span class=\"_ _0\"></span>s contra<span class=\"_ _0\"></span>cts will be </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs79c\">higher on policy anniversaries on which Mark<span class=\"_ _2\"></span>et V<span class=\"_ _2\"></span>alue Adjus<span class=\"_ _0\"></span>tments do not apply<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls20 ws22 gs79d\">Discretionary participating<span class=\"_ _2\"></span> bonus rate<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs79e\">The re<span class=\"_ _0\"></span>gular bon<span class=\"_ _0\"></span>us rates as<span class=\"_ _0\"></span>sumed in e<span class=\"_ _0\"></span>ach sce<span class=\"_ _0\"></span>nario are dete<span class=\"_ _0\"></span>rmined in ac<span class=\"_ _0\"></span>cordanc<span class=\"_ _0\"></span>e with eac<span class=\"_ _0\"></span>h company\u2019s Principle<span class=\"_ _0\"></span>s and Prac<span class=\"_ _0\"></span>tices of Fin<span class=\"_ _0\"></span>ancial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs79f\">Man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt (\u2018P<span class=\"_ _0\"></span>PFM\u2019<span class=\"_ _0\"></span>). Final bon<span class=\"_ _0\"></span>uses are as<span class=\"_ _0\"></span>sumed a<span class=\"_ _0\"></span>t a level such tha<span class=\"_ _0\"></span>t maturit<span class=\"_ _0\"></span>y payment<span class=\"_ _0\"></span>s will equal a<span class=\"_ _0\"></span>sset sh<span class=\"_ _0\"></span>ares subj<span class=\"_ _0\"></span>ect to smo<span class=\"_ _0\"></span>othing rule<span class=\"_ _0\"></span>s set out </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a0\">in<span class=\"_ gs47\"> </span>the PPFM a<span class=\"_ _0\"></span>nd the value of gu<span class=\"_ _0\"></span>arantee<span class=\"_ _0\"></span>d benefit<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs7a1\">Polic<span class=\"_ _2\"></span>yholder options and guarantees<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a2\">Som<span class=\"_ _0\"></span>e of the Group\u2019s produc<span class=\"_ _0\"></span>ts give potenti<span class=\"_ _0\"></span>ally valuable g<span class=\"_ _0\"></span>uarante<span class=\"_ _0\"></span>es, or g<span class=\"_ _0\"></span>ive options to chan<span class=\"_ _0\"></span>ge polic<span class=\"_ _0\"></span>y benefit<span class=\"_ _0\"></span>s which can b<span class=\"_ _0\"></span>e exercise<span class=\"_ _0\"></span>d at the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a3\">polic<span class=\"_ _0\"></span>yholder<span class=\"_ _0\"></span>s\u2019 discretion<span class=\"_ _0\"></span>. These p<span class=\"_ _0\"></span>roduct<span class=\"_ _0\"></span>s are desc<span class=\"_ _0\"></span>ribed be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a4\">Mos<span class=\"_ _0\"></span>t with-profit<span class=\"_ _0\"></span>s contrac<span class=\"_ _0\"></span>ts give a gu<span class=\"_ _0\"></span>arantee<span class=\"_ _0\"></span>d minimum payme<span class=\"_ _0\"></span>nt on a speci<span class=\"_ _0\"></span>fied date or ran<span class=\"_ _0\"></span>ge of dates or on de<span class=\"_ _0\"></span>ath if before that d<span class=\"_ _0\"></span>ate or dates. For </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a5\">pen<span class=\"_ _0\"></span>sions contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, the sp<span class=\"_ _0\"></span>ecified d<span class=\"_ _0\"></span>ate is the polic<span class=\"_ _0\"></span>yholder\u2019s cho<span class=\"_ _0\"></span>sen retirem<span class=\"_ _0\"></span>ent date or a rang<span class=\"_ _0\"></span>e of dates around t<span class=\"_ _0\"></span>hat date. For end<span class=\"_ _0\"></span>owment contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a6\">it is the m<span class=\"_ _0\"></span>aturit<span class=\"_ _0\"></span>y date of the contra<span class=\"_ _0\"></span>ct. For with<span class=\"_ _0\"></span>-profits bo<span class=\"_ _0\"></span>nds it is ofte<span class=\"_ _0\"></span>n a specifie<span class=\"_ _0\"></span>d anniver<span class=\"_ _0\"></span>sar<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ommenc<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>, in some ca<span class=\"_ _0\"></span>ses with f<span class=\"_ _0\"></span>urther d<span class=\"_ _0\"></span>ates </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a7\">there<span class=\"_ _0\"></span>after. Annual bo<span class=\"_ _0\"></span>nuses wh<span class=\"_ _0\"></span>en adde<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o w<span class=\"_ _0\"></span>ith-profits c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s usually in<span class=\"_ _0\"></span>crease th<span class=\"_ _0\"></span>e guarante<span class=\"_ _0\"></span>ed amo<span class=\"_ _0\"></span>unt.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a8\">There a<span class=\"_ _0\"></span>re guarante<span class=\"_ _0\"></span>ed surren<span class=\"_ _0\"></span>der values o<span class=\"_ _0\"></span>n a small numb<span class=\"_ _0\"></span>er of older co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7a9\">The fa<span class=\"_ _0\"></span>ir value of the gua<span class=\"_ _0\"></span>ranteed an<span class=\"_ _0\"></span>nuity o<span class=\"_ _0\"></span>ptions, w<span class=\"_ _0\"></span>hich is a comp<span class=\"_ _0\"></span>onent of the total in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, are \u00a3529 millio<span class=\"_ _0\"></span>n (2023: \u00a379<span class=\"_ _0\"></span>9 million </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7aa\">(rest<span class=\"_ _0\"></span>ated)) in the with-p<span class=\"_ _0\"></span>rofits funds a<span class=\"_ _0\"></span>nd \u00a373 million (2023<span class=\"_ _0\"></span>: \u00a3122 millio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>res<span class=\"_ _0\"></span>tated)) in th<span class=\"_ _0\"></span>e non-profit fun<span class=\"_ _0\"></span>ds. The p<span class=\"_ _0\"></span>rior perio<span class=\"_ _0\"></span>d values were re<span class=\"_ _0\"></span>stated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ab\">following i<span class=\"_ _0\"></span>dentificatio<span class=\"_ _0\"></span>n of an error in the c<span class=\"_ _0\"></span>alculation<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ac\">In com<span class=\"_ _0\"></span>mon with othe<span class=\"_ _0\"></span>r lif<span class=\"_ _2\"></span>e c<span class=\"_ _0\"></span>ompanies in t<span class=\"_ _0\"></span>he UK which h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e w<span class=\"_ _0\"></span>ritten p<span class=\"_ _0\"></span>ension tra<span class=\"_ _0\"></span>nsfer and o<span class=\"_ _0\"></span>pt<span class=\"_ _2\"></span>-o<span class=\"_ _0\"></span>ut busine<span class=\"_ _0\"></span>ss, t<span class=\"_ _0\"></span>he Group has s<span class=\"_ _0\"></span>et up provisions fo<span class=\"_ _0\"></span>r the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ad\">review an<span class=\"_ _0\"></span>d possib<span class=\"_ _0\"></span>le redres<span class=\"_ _0\"></span>s relating to pe<span class=\"_ _0\"></span>rsonal p<span class=\"_ _0\"></span>ension p<span class=\"_ _0\"></span>olicies<span class=\"_ _0\"></span>. These provi<span class=\"_ _0\"></span>sions, w<span class=\"_ _0\"></span>hich have bee<span class=\"_ _0\"></span>n calcula<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d from data de<span class=\"_ _0\"></span>rived from det<span class=\"_ _0\"></span>ailed file </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ae\">reviews of sp<span class=\"_ _0\"></span>ecific c<span class=\"_ _0\"></span>ases and u<span class=\"_ _0\"></span>sing a cer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y equival<span class=\"_ _0\"></span>ent approac<span class=\"_ _0\"></span>h, which g<span class=\"_ _0\"></span>ive a result ver<span class=\"_ _0\"></span>y similar to a market co<span class=\"_ _0\"></span>nsistent val<span class=\"_ _0\"></span>uation, are in<span class=\"_ _0\"></span>cluded in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7af\">liabilitie<span class=\"_ _0\"></span>s arising und<span class=\"_ _0\"></span>er insuran<span class=\"_ _0\"></span>ce contra<span class=\"_ _0\"></span>cts<span class=\"_ _0\"></span>. The total am<span class=\"_ _0\"></span>ount provided in th<span class=\"_ _0\"></span>e with-profit<span class=\"_ _0\"></span>s funds and n<span class=\"_ _0\"></span>on-profit fun<span class=\"_ _0\"></span>ds in respe<span class=\"_ _0\"></span>ct of the review an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7b0\">pos<span class=\"_ _0\"></span>sible redre<span class=\"_ _0\"></span>ss relatin<span class=\"_ _0\"></span>g to pension p<span class=\"_ _0\"></span>olicies<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g assoc<span class=\"_ _0\"></span>iated cos<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, are \u00a315<span class=\"_ _0\"></span>5 million (2023: \u00a3<span class=\"_ _0\"></span>191 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>) an<span class=\"_ _0\"></span>d \u00a32 million (2023<span class=\"_ _0\"></span>: \u00a32 million) </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs7b1\">respe<span class=\"_ _0\"></span>ctively<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7b2\">With-p<span class=\"_ _0\"></span>rofits deferre<span class=\"_ _0\"></span>d annuities p<span class=\"_ _0\"></span>articip<span class=\"_ _0\"></span>ate in profits onl<span class=\"_ _0\"></span>y up to the date of retirement<span class=\"_ _0\"></span>. At retirement<span class=\"_ _0\"></span>, a guarante<span class=\"_ _0\"></span>ed ca<span class=\"_ _0\"></span>sh option allows th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7b3\">polic<span class=\"_ _0\"></span>yholder to c<span class=\"_ _0\"></span>ommute the an<span class=\"_ _0\"></span>nuity b<span class=\"_ _0\"></span>enefit into ca<span class=\"_ _0\"></span>sh on guar<span class=\"_ _0\"></span>anteed term<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs7b4\">Assumptio<span class=\"_ _2\"></span>n changes<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7b5\">Durin<span class=\"_ _0\"></span>g the year a numb<span class=\"_ _0\"></span>er of chang<span class=\"_ _0\"></span>es were ma<span class=\"_ _0\"></span>de to assumpti<span class=\"_ _0\"></span>ons to reflec<span class=\"_ _0\"></span>t chang<span class=\"_ _0\"></span>es in expe<span class=\"_ _0\"></span>cted exp<span class=\"_ _0\"></span>erience<span class=\"_ _0\"></span>. The impac<span class=\"_ _0\"></span>t of material ch<span class=\"_ _0\"></span>anges d<span class=\"_ _0\"></span>uring </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7b6\">the year w<span class=\"_ _0\"></span>as as follows:<span class=\"_ _3bd\"> </span></div><div class=\"gs7b7\"><table class=\"s w91e h288\" id=\"_b5f084bf-15b0-488e-9881-660162544169\"><tr><td></td><td></td><td class=\"t m0 x53e h29 y60cf ff3 fs5 fc3 sc0 lsa4 ws9f\">(D<span class=\"_ _0\"></span>ecre<span class=\"_ _0\"></span>ase)/<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x19cf ha y60cf ff2 fs5 fc3 sc0 lsc3 wsc5\">(D<span class=\"_ _0\"></span>ecrea<span class=\"_ _0\"></span>se)/<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x59d h29 y60d0 ff3 fs5 fc3 sc0 ls54 ws7f\">Increase/<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x579 h29 y60d0 ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>rea<span class=\"_ _0\"></span>se in lo<span class=\"_ _0\"></span>ss </td><td class=\"t m0 x801 ha y60d0 ff2 fs5 fc3 sc0 ls21 ws23\">Incre<span class=\"_ _0\"></span>ase/<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x83d ha y60d0 ff2 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>e in los<span class=\"_ _0\"></span>s </td></tr><tr><td></td><td class=\"t m0 x648 h29 y60d1 ff3 fs5 fc3 sc0 ls1 ws1\">(de<span class=\"_ _0\"></span>crea<span class=\"_ _0\"></span>se) in CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x649 h29 y60d1 ff3 fs5 fc3 sc0 ls8d ws86\">component<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x15d4 ha y60d1 ff2 fs5 fc3 sc0 ls1 ws1\">(de<span class=\"_ _0\"></span>creas<span class=\"_ _0\"></span>e) in CS<span class=\"_ _0\"></span>M<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x19d0 ha y60d1 ff2 fs5 fc3 sc0 ls11 ws11\">component<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 xa79 h29 y60d2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c5 h29 y60d2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1ce ha y60d2 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y60d2 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x542 h29 y60d3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y60d3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y60d3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y60d3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y60d4 ff2 fs6 fc3 sc0 ls1 ws1\">For insur<span class=\"_ _0\"></span>ance cont<span class=\"_ _0\"></span>ract<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5ae1 w91f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in long<span class=\"_ _0\"></span>evity a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d1 y5ae1 w116 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">100<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d2 y5ae1 w2f6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d3 y5ae1 w920 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">91<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d4 y5ae1 wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5e14 w921 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in per<span class=\"_ _0\"></span>sistenc<span class=\"_ _0\"></span>y assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d5 y5e14 w397 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d6 y5e14 w4c6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d7 y5e14 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d8 y5e14 w2c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5e15 w922 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assum<span class=\"_ _0\"></span>ptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d9 y5e15 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19da y5e15 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19db y5e15 w312 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(10<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19dc y5e15 w204 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5ae4 w923 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in expen<span class=\"_ _0\"></span>ses as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19dd y5ae4 w84a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">(<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19de y5ae4 w341 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">72<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19df y5ae4 w20a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>170<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e0 y5ae4 w7b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>35)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60d5 ff2 fs6 fc3 sc0 ls1 ws1\">For reins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b29 w91f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in long<span class=\"_ _0\"></span>evity a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e1 y5b29 w924 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(31<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e2 y5b29 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e3 y5b29 w89f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(<span class=\"_ _0\"></span>598)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e4 y5b29 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b06 w921 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in per<span class=\"_ _0\"></span>sistenc<span class=\"_ _0\"></span>y assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d9 y5b06 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e5 y5b06 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e6 y5b06 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e7 y5b06 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a15 w922 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assum<span class=\"_ _0\"></span>ptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19d9 y5a15 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e5 y5a15 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e8 y5a15 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e9 y5a15 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a16 w923 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in expen<span class=\"_ _0\"></span>ses as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ea y5a16 w4e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(45<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19eb y5a16 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ec y5a16 w925 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ed y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls17 ws18 gs7b9\">2024 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ba\">The \u00a36<span class=\"_ _0\"></span>9 million net of rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e increas<span class=\"_ _0\"></span>e in CSM an<span class=\"_ _0\"></span>d \u00a3(11) million dec<span class=\"_ _0\"></span>rease in los<span class=\"_ _0\"></span>s compo<span class=\"_ _0\"></span>nent are due to ch<span class=\"_ _0\"></span>anges in lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y ass<span class=\"_ _0\"></span>umptions </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7bb\">refle<span class=\"_ _0\"></span>cting upd<span class=\"_ _0\"></span>ates to base an<span class=\"_ _0\"></span>d improvement as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s reflectin<span class=\"_ _0\"></span>g latest ex<span class=\"_ _0\"></span>perienc<span class=\"_ _0\"></span>e analys<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7bc\">As well a<span class=\"_ _0\"></span>s annual pe<span class=\"_ _0\"></span>rsisten<span class=\"_ _0\"></span>cy update<span class=\"_ _0\"></span>s to reflect la<span class=\"_ _0\"></span>test expe<span class=\"_ _0\"></span>rience<span class=\"_ _0\"></span>, assumpti<span class=\"_ _0\"></span>on chang<span class=\"_ _0\"></span>es were mad<span class=\"_ _0\"></span>e f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r late retirement<span class=\"_ _0\"></span>s and GA<span class=\"_ _2\"></span>O t<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>-up rates </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7bd\">during th<span class=\"_ _0\"></span>e year<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7be\">The \u00a3<span class=\"_ _0\"></span>3m increa<span class=\"_ _0\"></span>se in loss c<span class=\"_ _0\"></span>ompone<span class=\"_ _0\"></span>nt is due to chang<span class=\"_ _0\"></span>es in mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y ass<span class=\"_ _0\"></span>umptions larg<span class=\"_ _0\"></span>ely driven by mo<span class=\"_ _0\"></span>delling cha<span class=\"_ _0\"></span>nge and pa<span class=\"_ _0\"></span>rtly of<span class=\"_ _0\"></span>fset by a rele<span class=\"_ _0\"></span>ase in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7bf\">the mo<span class=\"_ _0\"></span>rtali<span class=\"_ _0\"></span>ty provisi<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c0\">The \u00a3(11<span class=\"_ _0\"></span>9) million ne<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>insuranc<span class=\"_ _0\"></span>e decrea<span class=\"_ _0\"></span>se in CSM a<span class=\"_ _0\"></span>nd \u00a372 million inc<span class=\"_ _0\"></span>rease in los<span class=\"_ _0\"></span>s compo<span class=\"_ _0\"></span>nent are due to ch<span class=\"_ _0\"></span>anges in ex<span class=\"_ _0\"></span>pense a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s driven </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c1\">by an incre<span class=\"_ _0\"></span>ase in res<span class=\"_ _0\"></span>erves p<span class=\"_ _0\"></span>rincipally in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f de<span class=\"_ _0\"></span>livery of th<span class=\"_ _0\"></span>e Group T<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>rget Ope<span class=\"_ _0\"></span>rating Mo<span class=\"_ _0\"></span>del for IT and O<span class=\"_ _0\"></span>peratio<span class=\"_ _0\"></span>ns include<span class=\"_ _0\"></span>d the migra<span class=\"_ _0\"></span>tion of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c2\">polic<span class=\"_ _0\"></span>yholder a<span class=\"_ _0\"></span>dministr<span class=\"_ _0\"></span>ation onto the TCS plat<span class=\"_ _0\"></span>form and Gro<span class=\"_ _0\"></span>up expens<span class=\"_ _0\"></span>e provisions<span class=\"_ _0\"></span>. This is par<span class=\"_ _0\"></span>tly off<span class=\"_ _0\"></span>set by chan<span class=\"_ _0\"></span>ges in mod<span class=\"_ _0\"></span>elled exp<span class=\"_ _0\"></span>enses in re<span class=\"_ _0\"></span>lation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c3\">to the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s cos<span class=\"_ _0\"></span>t saving pro<span class=\"_ _0\"></span>gramme to<span class=\"_ _0\"></span>gether wit<span class=\"_ _0\"></span>h in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s and relea<span class=\"_ _0\"></span>se of an investme<span class=\"_ _0\"></span>nt manual<span class=\"_ _0\"></span>. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs7c4\">2023 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c5\">The \u00a3<span class=\"_ _0\"></span>320 million net of reins<span class=\"_ _0\"></span>urance in<span class=\"_ _0\"></span>crease in C<span class=\"_ _0\"></span>SM due to ch<span class=\"_ _0\"></span>anges in lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y ass<span class=\"_ _0\"></span>umptions refle<span class=\"_ _0\"></span>cts up<span class=\"_ _0\"></span>dates to base a<span class=\"_ _0\"></span>nd improvement </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c6\">as<span class=\"_ _0\"></span>sumptions to refle<span class=\"_ _0\"></span>ct lates<span class=\"_ _0\"></span>t experie<span class=\"_ _0\"></span>nce anal<span class=\"_ _0\"></span>yses<span class=\"_ _0\"></span>, including m<span class=\"_ _0\"></span>oving to the lates<span class=\"_ _0\"></span>t CMI m<span class=\"_ _0\"></span>odel.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c7\">As well a<span class=\"_ _0\"></span>s annual pe<span class=\"_ _0\"></span>rsisten<span class=\"_ _0\"></span>cy update<span class=\"_ _0\"></span>s to reflect la<span class=\"_ _0\"></span>test expe<span class=\"_ _0\"></span>rience<span class=\"_ _0\"></span>, assumpti<span class=\"_ _0\"></span>on chang<span class=\"_ _0\"></span>es were mad<span class=\"_ _0\"></span>e f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r late retirement<span class=\"_ _0\"></span>s and GA<span class=\"_ _2\"></span>O t<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>-up rates </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c8\">during th<span class=\"_ _0\"></span>e year<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7c9\">The \u00a3(87<span class=\"_ _0\"></span>) million net of rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e decrea<span class=\"_ _0\"></span>se in CSM d<span class=\"_ _0\"></span>ue to chang<span class=\"_ _0\"></span>e in mort<span class=\"_ _0\"></span>ality a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>ns is driven by chan<span class=\"_ _0\"></span>ges in Europe &amp; O<span class=\"_ _0\"></span>ther b<span class=\"_ _0\"></span>ase mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs7ca\">valuation assumptions.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7cb\">The \u00a3(1<span class=\"_ _0\"></span>83) million n<span class=\"_ _0\"></span>et of reinsuran<span class=\"_ _0\"></span>ce decre<span class=\"_ _0\"></span>ase in CS<span class=\"_ _0\"></span>M and \u00a3(35<span class=\"_ _0\"></span>) million decre<span class=\"_ _0\"></span>ase in los<span class=\"_ _0\"></span>s compon<span class=\"_ _0\"></span>ent are due to chan<span class=\"_ _0\"></span>ges in exp<span class=\"_ _0\"></span>ense as<span class=\"_ _0\"></span>sumptions </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7cc\">driven by an in<span class=\"_ _0\"></span>crease in re<span class=\"_ _0\"></span>serve<span class=\"_ _0\"></span>s principall<span class=\"_ _0\"></span>y in respec<span class=\"_ _0\"></span>t of deliver<span class=\"_ _0\"></span>y of the Group T<span class=\"_ _2\"></span>arg<span class=\"_ _0\"></span>et Operat<span class=\"_ _0\"></span>ing Mode<span class=\"_ _0\"></span>l for IT and Op<span class=\"_ _0\"></span>erations in<span class=\"_ _0\"></span>cluded th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7cd\">migra<span class=\"_ _0\"></span>tion of policyh<span class=\"_ _0\"></span>older admin<span class=\"_ _0\"></span>istration o<span class=\"_ _0\"></span>nto the T<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>S platform to<span class=\"_ _0\"></span>gether wi<span class=\"_ _0\"></span>th Group expe<span class=\"_ _0\"></span>nse provisio<span class=\"_ _0\"></span>ns and an incre<span class=\"_ _0\"></span>ase in mo<span class=\"_ _0\"></span>delled ma<span class=\"_ _0\"></span>intenance </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ce\">expe<span class=\"_ _0\"></span>nses as<span class=\"_ _0\"></span>sumptions<span class=\"_ _0\"></span>. This is pa<span class=\"_ _0\"></span>rtly of<span class=\"_ _0\"></span>fset by cha<span class=\"_ _0\"></span>nges in mo<span class=\"_ _0\"></span>delled inves<span class=\"_ _0\"></span>tment exp<span class=\"_ _0\"></span>enses a<span class=\"_ _0\"></span>nd releas<span class=\"_ _0\"></span>e of an investme<span class=\"_ _0\"></span>nt manual. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs7cf\">F11<span class=\"_ _0\"></span>.3 M<span class=\"_ _0\"></span>ana<span class=\"_ _0\"></span>ging pr<span class=\"_ _0\"></span>oduc<span class=\"_ _0\"></span>t risk<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d0\">The follow<span class=\"_ _0\"></span>ing sec<span class=\"_ _0\"></span>tions give an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the ris<span class=\"_ _0\"></span>ks asso<span class=\"_ _0\"></span>ciated with th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ain life assura<span class=\"_ _0\"></span>nce prod<span class=\"_ _0\"></span>ucts an<span class=\"_ _0\"></span>d the ways in which th<span class=\"_ _0\"></span>e Group </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls11 ws11 gs7d1\">manages those<span class=\"_ _2\"></span> risks.<span class=\"_ _3bd\"> </span></div><div class=\"gs7d2\"><table class=\"s w926 h289\" id=\"_d2426464-5ebc-447f-bb02-769671a7c589\"><tr><td class=\"c n x1d4 y60d6 w927 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4e ws48\">Produc<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ee y60d6 w928 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Primary segment<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ef y60d6 w929 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls65 wsc0\">Main insuranc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> risks<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60d7 ff2 fs6 fc3 sc0 lsd wsd\">With-profits:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y60d8 w92a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unitised &amp; T<span class=\"_ _2\"></span>raditiona<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> \u2013 witho<span class=\"_ _0\"></span>ut guarantees</div></td><td class=\"c n x19f0 y60d8 w92b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-p<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ofit<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f1 y60d8 w92c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Long<span class=\"_ _0\"></span>evity &amp; La<span class=\"_ _0\"></span>pse<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60d9 w92d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unitised &amp; T<span class=\"_ _2\"></span>raditiona<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span> \u2013 with gu<span class=\"_ _0\"></span>arantees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f2 y60d9 w92e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f3 y60d9 w92f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Lap<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60da w663 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Annuities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f4 y60da w65e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">With-profits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f5 y60da w930 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60db ff2 fs6 fc3 sc0 ls13 ws14\">Non-profit:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y60dc w931 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d annuitie<span class=\"_ _0\"></span>s \u2013 with guar<span class=\"_ _0\"></span>antees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f6 y60dc w23d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Solu<span class=\"_ _0\"></span>tions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f7 y60dc w930 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60dd w932 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d annuitie<span class=\"_ _0\"></span>s \u2013 without g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f8 y60dd w23d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retire<span class=\"_ _0\"></span>ment Solu<span class=\"_ _0\"></span>tions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f9 y60dd w930 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60de w933 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls77 ws34\">Imme<span class=\"_ _0\"></span>diate annuities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19f4 y60de w934 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Retirem<span class=\"_ _0\"></span>ent Soluti<span class=\"_ _0\"></span>ons<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19fa y60de w935 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Longevit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60df w66c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6a ws89\">Pr<span class=\"_ _2\"></span>otect<span class=\"_ _2\"></span>ion<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19fb y60df w244 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Europe &amp; O<span class=\"_ _0\"></span>ther<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19fc y60df w936 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, Morb<span class=\"_ _0\"></span>idity &amp; L<span class=\"_ _0\"></span>apse<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60c6 w937 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Unit-linked \u2013 with g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19fd y60c6 w938 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension<span class=\"_ _0\"></span>s &amp; Savings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19fe y60c6 w939 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lon<span class=\"_ _0\"></span>gevit<span class=\"_ _0\"></span>y &amp; Lapse<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w93a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Unit-linked \u2013 with<span class=\"_ _0\"></span>out guar<span class=\"_ _0\"></span>antees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19ff y5b4c w93b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pens<span class=\"_ _0\"></span>ions &amp; Saving<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a00 y5b4c w93c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">M<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality, Morbi<span class=\"_ _0\"></span>dity &amp; La<span class=\"_ _0\"></span>pse<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d3\">The ab<span class=\"_ _0\"></span>ove product<span class=\"_ _0\"></span>s will also b<span class=\"_ _0\"></span>e expose<span class=\"_ _0\"></span>d to market risk and fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etails are inc<span class=\"_ _0\"></span>luded in note E6<span class=\"_ _0\"></span>.2.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d4\">\u00a31<span class=\"_ _0\"></span>5,6<span class=\"_ _0\"></span>92 million (20<span class=\"_ _0\"></span>23: \u00a312,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>66 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>) of liab<span class=\"_ _0\"></span>ilities are subj<span class=\"_ _0\"></span>ect to lon<span class=\"_ _0\"></span>gevit<span class=\"_ _0\"></span>y swap arra<span class=\"_ _0\"></span>ngeme<span class=\"_ _0\"></span>nts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs7d5\">With-pro<span class=\"_ _2\"></span>fits fund (<span class=\"_ _2\"></span>unitised<span class=\"_ _2\"></span> and traditional<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d6\">The Gro<span class=\"_ _0\"></span>up operate<span class=\"_ _0\"></span>s a number of with<span class=\"_ _0\"></span>-profits fun<span class=\"_ _0\"></span>ds in which the wit<span class=\"_ _0\"></span>h-profits po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>rs ben<span class=\"_ _0\"></span>efit from a discret<span class=\"_ _0\"></span>ionar<span class=\"_ _0\"></span>y annual bo<span class=\"_ _0\"></span>nus (guar<span class=\"_ _0\"></span>anteed </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d7\">onc<span class=\"_ _0\"></span>e added in m<span class=\"_ _0\"></span>ost ca<span class=\"_ _0\"></span>ses) and a disc<span class=\"_ _0\"></span>retionar<span class=\"_ _0\"></span>y final bo<span class=\"_ _0\"></span>nus. N<span class=\"_ _0\"></span>on-par<span class=\"_ _0\"></span>ticipating b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s is also writ<span class=\"_ _0\"></span>ten in some of th<span class=\"_ _0\"></span>e with-profit<span class=\"_ _0\"></span>s funds and s<span class=\"_ _0\"></span>ome </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d8\">of<span class=\"_ gs47\"> </span>the fun<span class=\"_ _0\"></span>ds may includ<span class=\"_ _0\"></span>e immediate an<span class=\"_ _0\"></span>nuities and d<span class=\"_ _0\"></span>eferred annui<span class=\"_ _0\"></span>ties with Gu<span class=\"_ _0\"></span>aranteed A<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y Rates (\u2018GAR<span class=\"_ _0\"></span>\u2019).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7d9\">The inves<span class=\"_ _0\"></span>tment st<span class=\"_ _0\"></span>rategy of ea<span class=\"_ _0\"></span>ch fund dif<span class=\"_ _0\"></span>fers<span class=\"_ _0\"></span>, but is broa<span class=\"_ _0\"></span>dly to inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>st in a mix<span class=\"_ _0\"></span>ture of fixed intere<span class=\"_ _0\"></span>st investm<span class=\"_ _0\"></span>ents and e<span class=\"_ _0\"></span>quities an<span class=\"_ _0\"></span>d/<span class=\"_ _4\"></span>or prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7da\">other a<span class=\"_ _0\"></span>sset cla<span class=\"_ _0\"></span>sses in s<span class=\"_ _0\"></span>uch propor<span class=\"_ _0\"></span>tions a<span class=\"_ _0\"></span>s is appropria<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e to th<span class=\"_ _0\"></span>e inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment ri<span class=\"_ _0\"></span>sk exposure of th<span class=\"_ _0\"></span>e fund and it<span class=\"_ _0\"></span>s capit<span class=\"_ _0\"></span>al resourc<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7db\">The Gro<span class=\"_ _0\"></span>up has signi<span class=\"_ _0\"></span>ficant disc<span class=\"_ _0\"></span>retion rega<span class=\"_ _0\"></span>rding investme<span class=\"_ _0\"></span>nt policy, bonus p<span class=\"_ _0\"></span>olicy and e<span class=\"_ _0\"></span>arly termin<span class=\"_ _0\"></span>ation values<span class=\"_ _0\"></span>. The proc<span class=\"_ _0\"></span>ess for exerc<span class=\"_ _0\"></span>ising discre<span class=\"_ _0\"></span>tion in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7dc\">the ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent of the with-profi<span class=\"_ _0\"></span>ts funds is s<span class=\"_ _0\"></span>et out in the PPFM fo<span class=\"_ _0\"></span>r each with-<span class=\"_ _0\"></span>profits fund a<span class=\"_ _0\"></span>nd is overse<span class=\"_ _0\"></span>en by with-profit<span class=\"_ _0\"></span>s commit<span class=\"_ _0\"></span>tees<span class=\"_ _0\"></span>. Advice is al<span class=\"_ _0\"></span>so </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7dd\">taken from th<span class=\"_ _0\"></span>e with-profits a<span class=\"_ _0\"></span>ctuar<span class=\"_ _0\"></span>y of eac<span class=\"_ _0\"></span>h with-profits f<span class=\"_ _0\"></span>und. Com<span class=\"_ _0\"></span>pliance wi<span class=\"_ _0\"></span>th the PPFM is reviewe<span class=\"_ _0\"></span>d annually an<span class=\"_ _0\"></span>d<span class=\"_ gs47\"> </span>repor<span class=\"_ _0\"></span>ted to the PR<span class=\"_ _0\"></span>A<span class=\"_ _0\"></span>, Financi<span class=\"_ _0\"></span>al </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs7de\">Conduc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span> Authorit<span class=\"_ _0\"></span>y (\u2018FCA<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>) and policyholders.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7df\">The b<span class=\"_ _0\"></span>onuses a<span class=\"_ _0\"></span>re designe<span class=\"_ _0\"></span>d to distribute to p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>ders a fair sh<span class=\"_ _0\"></span>are of the return on th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s in the with-p<span class=\"_ _0\"></span>rofits funds to<span class=\"_ _0\"></span>gether w<span class=\"_ _0\"></span>ith other elem<span class=\"_ _0\"></span>ents </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e0\">of the exp<span class=\"_ _0\"></span>erience of th<span class=\"_ _0\"></span>e fund. Th<span class=\"_ _0\"></span>e sharehol<span class=\"_ _0\"></span>ders of the Gro<span class=\"_ _0\"></span>up are entitle<span class=\"_ _0\"></span>d to receive one<span class=\"_ _0\"></span>-ninth of the co<span class=\"_ _0\"></span>st of bonus<span class=\"_ _0\"></span>es decla<span class=\"_ _0\"></span>red for som<span class=\"_ _0\"></span>e funds and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e1\">\u00a3nil for other<span class=\"_ _0\"></span>s. For the H<span class=\"_ _0\"></span>eritag<span class=\"_ _0\"></span>e With-Profit<span class=\"_ _0\"></span>s Fund (\u2018<span class=\"_ _0\"></span>HWPF\u2019<span class=\"_ _0\"></span>), under the S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f D<span class=\"_ _0\"></span>emutua<span class=\"_ _0\"></span>lisation<span class=\"_ _0\"></span>, shareho<span class=\"_ _0\"></span>lders are ent<span class=\"_ _0\"></span>itled to rec<span class=\"_ _0\"></span>eive cer<span class=\"_ _0\"></span>tain </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e2\">define<span class=\"_ _0\"></span>d cash flow<span class=\"_ _0\"></span>s arising on sp<span class=\"_ _0\"></span>ecifie<span class=\"_ _0\"></span>d blocks of UK an<span class=\"_ _0\"></span>d Irish bus<span class=\"_ _0\"></span>iness<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e3\">Unitis<span class=\"_ _0\"></span>ed and tr<span class=\"_ _0\"></span>aditional wi<span class=\"_ _0\"></span>th-profits p<span class=\"_ _0\"></span>olicies are exp<span class=\"_ _0\"></span>osed to e<span class=\"_ _0\"></span>quivalent risks<span class=\"_ _0\"></span>, the main d<span class=\"_ _0\"></span>ifferenc<span class=\"_ _0\"></span>e being th<span class=\"_ _0\"></span>at unitised w<span class=\"_ _0\"></span>ith-profits p<span class=\"_ _0\"></span>olicies purc<span class=\"_ _0\"></span>hase </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e4\">notion<span class=\"_ _0\"></span>al units in a with-<span class=\"_ _0\"></span>profits fund w<span class=\"_ _0\"></span>hereas tr<span class=\"_ _0\"></span>aditional w<span class=\"_ _0\"></span>ith-profits p<span class=\"_ _0\"></span>olicies do not<span class=\"_ _0\"></span>. Benefi<span class=\"_ _0\"></span>t payments for un<span class=\"_ _0\"></span>itised p<span class=\"_ _0\"></span>olicies are the<span class=\"_ _0\"></span>n depen<span class=\"_ _0\"></span>dent on </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e5\">unit pric<span class=\"_ _0\"></span>es at the time of a cl<span class=\"_ _0\"></span>aim, altho<span class=\"_ _0\"></span>ugh charg<span class=\"_ _0\"></span>es may be ap<span class=\"_ _0\"></span>plied. A unit<span class=\"_ _0\"></span>ised with-p<span class=\"_ _0\"></span>rofits fund p<span class=\"_ _0\"></span>rice is t<span class=\"_ _0\"></span>ypically g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d not<span class=\"_ gs47\"> </span>to fall and in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7e6\">in line with a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y dis<span class=\"_ _0\"></span>cretionar<span class=\"_ _0\"></span>y bon<span class=\"_ _0\"></span>us payment<span class=\"_ _0\"></span>s over the cour<span class=\"_ _0\"></span>se of one year.<span class=\"_ _3bd\"> </span></div>Deferred<span class=\"_ _2\"></span> annuities<span class=\"_ _3bd\"> </span>Deferre<span class=\"_ _0\"></span>d annuit<span class=\"_ _0\"></span>y policie<span class=\"_ _0\"></span>s are writ<span class=\"_ _0\"></span>ten to provide eithe<span class=\"_ _0\"></span>r a cash b<span class=\"_ _0\"></span>enefit at retirem<span class=\"_ _0\"></span>ent, whic<span class=\"_ _0\"></span>h the policy<span class=\"_ _0\"></span>holder c<span class=\"_ _0\"></span>an use to buy an a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y on the terms<span class=\"_ _3bd\"> </span>then a<span class=\"_ _0\"></span>pplicabl<span class=\"_ _0\"></span>e, or an annuit<span class=\"_ _0\"></span>y payabl<span class=\"_ _0\"></span>e from retirement<span class=\"_ _0\"></span>. The polic<span class=\"_ _0\"></span>ies conta<span class=\"_ _0\"></span>in an eleme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f g<span class=\"_ _0\"></span>uarantee ex<span class=\"_ _0\"></span>presse<span class=\"_ _0\"></span>d in the form that t<span class=\"_ _0\"></span>he contrac<span class=\"_ _0\"></span>t is<span class=\"_ _3bd\"> </span>writ<span class=\"_ _0\"></span>ten in, i.e<span class=\"_ _0\"></span>. to provide cas<span class=\"_ _0\"></span>h or an annuit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. D<span class=\"_ _0\"></span>eferred annu<span class=\"_ _0\"></span>ity po<span class=\"_ _0\"></span>licies writ<span class=\"_ _0\"></span>ten to provide a c<span class=\"_ _0\"></span>ash bene<span class=\"_ _0\"></span>fit may also co<span class=\"_ _0\"></span>ntain an option to co<span class=\"_ _0\"></span>nv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rt the<span class=\"_ _3bd\"> </span>ca<span class=\"_ _0\"></span>sh benefit to an a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y benefit on g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d terms; th<span class=\"_ _0\"></span>ese are know<span class=\"_ _0\"></span>n as G<span class=\"_ _2\"></span>AR p<span class=\"_ _0\"></span>olicies<span class=\"_ _0\"></span>. Deferred a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y policies wr<span class=\"_ _0\"></span>itten to provid<span class=\"_ _0\"></span>e an annuit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span>ben<span class=\"_ _0\"></span>efit may also c<span class=\"_ _0\"></span>ontain an option to c<span class=\"_ _0\"></span>onvert th<span class=\"_ _0\"></span>e annuit<span class=\"_ _0\"></span>y benefit into c<span class=\"_ _0\"></span>ash ben<span class=\"_ _0\"></span>efits on gu<span class=\"_ _0\"></span>arantee<span class=\"_ _0\"></span>d terms; the<span class=\"_ _0\"></span>se are known as G<span class=\"_ _0\"></span>uarante<span class=\"_ _0\"></span>ed Cash<span class=\"_ _3bd\"> </span>Option (<span class=\"_ _0\"></span>\u2018GCO\u2019<span class=\"_ _0\"></span>)<span class=\"_ gs47\"> </span>polici<span class=\"_ _0\"></span>es. In a<span class=\"_ _0\"></span>ddition, c<span class=\"_ _0\"></span>erta<span class=\"_ _0\"></span>in unit prices in th<span class=\"_ _0\"></span>e HWPF are gu<span class=\"_ _0\"></span>arantee<span class=\"_ _0\"></span>d not to decre<span class=\"_ _0\"></span>ase.<span class=\"_ _3bd\"> </span>Long-te<span class=\"_ _0\"></span>rm interest ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s remain relat<span class=\"_ _0\"></span>ively low comp<span class=\"_ _0\"></span>ared to histor<span class=\"_ _0\"></span>ical levels a<span class=\"_ _0\"></span>nd life expec<span class=\"_ _0\"></span>tanc<span class=\"_ _0\"></span>y has increa<span class=\"_ _0\"></span>sed mo<span class=\"_ _0\"></span>re rapidly tha<span class=\"_ _0\"></span>n originally<span class=\"_ _3bd\"> </span>anticip<span class=\"_ _0\"></span>ated. The<span class=\"_ gs47\"> </span>g<span class=\"_ _0\"></span>uarantee<span class=\"_ _0\"></span>d terms on GAR polic<span class=\"_ _0\"></span>ies are more favour<span class=\"_ _0\"></span>able than th<span class=\"_ _0\"></span>e annuit<span class=\"_ _0\"></span>y rates curre<span class=\"_ _0\"></span>ntly available in the m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>t a<span class=\"_ _2\"></span>va<span class=\"_ _0\"></span>ilable for ca<span class=\"_ _0\"></span>sh<span class=\"_ _3bd\"> </span>ben<span class=\"_ _0\"></span>efits. T<span class=\"_ _0\"></span>he guara<span class=\"_ _0\"></span>nteed term<span class=\"_ _0\"></span>s on GCO polic<span class=\"_ _0\"></span>ies are currentl<span class=\"_ _0\"></span>y not valuable<span class=\"_ _0\"></span>. Deferred a<span class=\"_ _0\"></span>nnuit<span class=\"_ _0\"></span>y policies whi<span class=\"_ _0\"></span>ch are writ<span class=\"_ _0\"></span>ten to provide annuit<span class=\"_ _0\"></span>y be<span class=\"_ _0\"></span>nefits<span class=\"_ _3bd\"> </span>are man<span class=\"_ _0\"></span>aged in a s<span class=\"_ _0\"></span>imilar manne<span class=\"_ _0\"></span>r to immediate an<span class=\"_ _0\"></span>nuities an<span class=\"_ _0\"></span>d are expose<span class=\"_ _0\"></span>d to the sam<span class=\"_ _0\"></span>e risks.<span class=\"_ _3bd\"> </span>The opti<span class=\"_ _0\"></span>on provisions on GAR po<span class=\"_ _0\"></span>licies are par<span class=\"_ _0\"></span>ticula<span class=\"_ _0\"></span>rly sensit<span class=\"_ _0\"></span>ive to downward moveme<span class=\"_ _0\"></span>nts in interes<span class=\"_ _0\"></span>t rates, in<span class=\"_ _0\"></span>creasin<span class=\"_ _0\"></span>g life expec<span class=\"_ _0\"></span>tancy an<span class=\"_ _0\"></span>d the<span class=\"_ _3bd\"> </span>propo<span class=\"_ _0\"></span>rtion of cu<span class=\"_ _0\"></span>stomer<span class=\"_ _0\"></span>s exercising th<span class=\"_ _0\"></span>eir option. Adve<span class=\"_ _0\"></span>rse movem<span class=\"_ _0\"></span>ents in thes<span class=\"_ _0\"></span>e factor<span class=\"_ _0\"></span>s could le<span class=\"_ _0\"></span>ad to a requirem<span class=\"_ _0\"></span>ent to increa<span class=\"_ _0\"></span>se reser<span class=\"_ _0\"></span>ves which c<span class=\"_ _0\"></span>ould<span class=\"_ _3bd\"> </span>adver<span class=\"_ _0\"></span>sely imp<span class=\"_ _0\"></span>act profit an<span class=\"_ _0\"></span>d potentially re<span class=\"_ _0\"></span>quire addition<span class=\"_ _0\"></span>al capit<span class=\"_ _0\"></span>al. In order to a<span class=\"_ _0\"></span>ddress th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest rate ris<span class=\"_ _0\"></span>k (but not the r<span class=\"_ _0\"></span>isk of increasin<span class=\"_ _0\"></span>g life<span class=\"_ _3bd\"> </span>expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy or chan<span class=\"_ _0\"></span>ging cus<span class=\"_ _0\"></span>tomer be<span class=\"_ _0\"></span>haviour with re<span class=\"_ _0\"></span>gard to exercis<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e option), insuran<span class=\"_ _0\"></span>ce subsidi<span class=\"_ _0\"></span>aries within th<span class=\"_ _0\"></span>e Group have purch<span class=\"_ _0\"></span>ased<span class=\"_ _3bd\"> </span>deriva<span class=\"_ _0\"></span>tives that provide p<span class=\"_ _0\"></span>rotection a<span class=\"_ _0\"></span>gainst a<span class=\"_ _0\"></span>n increas<span class=\"_ _0\"></span>e in liabilities an<span class=\"_ _0\"></span>d have thus redu<span class=\"_ _0\"></span>ced the s<span class=\"_ _0\"></span>ensitivit<span class=\"_ _0\"></span>y of profit to moveme<span class=\"_ _0\"></span>nts in interes<span class=\"_ _0\"></span>t rates (see<span class=\"_ _3bd\"> </span>note E6<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.2).<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up seeks to m<span class=\"_ _0\"></span>anage th<span class=\"_ _0\"></span>is risk in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th both the terms of th<span class=\"_ _0\"></span>e issue<span class=\"_ _0\"></span>d policies a<span class=\"_ _0\"></span>nd the interes<span class=\"_ _0\"></span>ts of cus<span class=\"_ _0\"></span>tomers<span class=\"_ _0\"></span>, and has o<span class=\"_ _0\"></span>btained<span class=\"_ _3bd\"> </span>ex<span class=\"_ _0\"></span>ternal advi<span class=\"_ _0\"></span>ce suppor<span class=\"_ _0\"></span>ting th<span class=\"_ _0\"></span>e manner in whi<span class=\"_ _0\"></span>ch it opera<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s the long<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>rm funds in this re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>Immediate annuities<span class=\"_ _3bd\"> </span>This t<span class=\"_ _0\"></span>ype of annu<span class=\"_ _0\"></span>ity is purc<span class=\"_ _0\"></span>hase<span class=\"_ _0\"></span>d with a single pre<span class=\"_ _0\"></span>mium at the out<span class=\"_ _0\"></span>set, a<span class=\"_ _0\"></span>nd is paid to the p<span class=\"_ _0\"></span>olicyhol<span class=\"_ _0\"></span>der for the rem<span class=\"_ _0\"></span>ainder of their lifetim<span class=\"_ _0\"></span>e. Payment<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>may als<span class=\"_ _0\"></span>o continue for th<span class=\"_ _0\"></span>e benefit of a sur<span class=\"_ _0\"></span>viving s<span class=\"_ _0\"></span>pouse or p<span class=\"_ _0\"></span>artn<span class=\"_ _0\"></span>er after th<span class=\"_ _0\"></span>e annuitant<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s d<span class=\"_ _0\"></span>eath. Ann<span class=\"_ _0\"></span>uities may be l<span class=\"_ _0\"></span>ev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>l, or esc<span class=\"_ _0\"></span>alate at a fixed r<span class=\"_ _0\"></span>ate, or<span class=\"_ _3bd\"> </span>may es<span class=\"_ _0\"></span>calate in line wi<span class=\"_ _0\"></span>th a price index a<span class=\"_ _0\"></span>nd may be payab<span class=\"_ _0\"></span>le for a minimum pe<span class=\"_ _0\"></span>riod irresp<span class=\"_ _0\"></span>ective of whet<span class=\"_ _0\"></span>her the po<span class=\"_ _0\"></span>licyholde<span class=\"_ _0\"></span>r remains alive<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>ain risks ass<span class=\"_ _0\"></span>ociated w<span class=\"_ _0\"></span>ith this produc<span class=\"_ _0\"></span>t are long<span class=\"_ _0\"></span>evity an<span class=\"_ _0\"></span>d investme<span class=\"_ _0\"></span>nt risks. Long<span class=\"_ _0\"></span>evit<span class=\"_ _0\"></span>y risk arises w<span class=\"_ _0\"></span>here the ann<span class=\"_ _0\"></span>uities are paid fo<span class=\"_ _0\"></span>r the lifetime of<span class=\"_ _3bd\"> </span>the po<span class=\"_ _0\"></span>licyhold<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>, and is m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>d through t<span class=\"_ _0\"></span>he initial pricin<span class=\"_ _0\"></span>g of the annuit<span class=\"_ _0\"></span>y and thro<span class=\"_ _0\"></span>ugh reinsur<span class=\"_ _0\"></span>ance (appro<span class=\"_ _0\"></span>priately coll<span class=\"_ _0\"></span>ateralise<span class=\"_ _0\"></span>d) or<span class=\"_ gs47\"> </span>trans<span class=\"_ _0\"></span>fer of<span class=\"_ _3bd\"> </span>exis<span class=\"_ _0\"></span>ting liabilitie<span class=\"_ _0\"></span>s. Annuiti<span class=\"_ _0\"></span>es may also b<span class=\"_ _0\"></span>e a parti<span class=\"_ _0\"></span>al \u2018<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>atural he<span class=\"_ _0\"></span>dge\u2019 aga<span class=\"_ _0\"></span>inst los<span class=\"_ _0\"></span>ses inc<span class=\"_ _0\"></span>urred in protec<span class=\"_ _0\"></span>tion busine<span class=\"_ _0\"></span>ss in the event of inc<span class=\"_ _0\"></span>rease<span class=\"_ _0\"></span>d mort<span class=\"_ _0\"></span>ality<span class=\"_ _3bd\"> </span>(and vice ve<span class=\"_ _0\"></span>rsa) altho<span class=\"_ _0\"></span>ugh the ex<span class=\"_ _0\"></span>tent to which this o<span class=\"_ _0\"></span>ccurs w<span class=\"_ _0\"></span>ill depend o<span class=\"_ _0\"></span>n the similarit<span class=\"_ _0\"></span>y of the dem<span class=\"_ _0\"></span>ograph<span class=\"_ _0\"></span>ic profile of each b<span class=\"_ _0\"></span>ook of busine<span class=\"_ _0\"></span>ss. In<span class=\"_ _3bd\"> </span>addit<span class=\"_ _0\"></span>ion, the Gro<span class=\"_ _0\"></span>up has in plac<span class=\"_ _0\"></span>e longev<span class=\"_ _0\"></span>ity swa<span class=\"_ _0\"></span>ps that provide d<span class=\"_ _0\"></span>ownside protec<span class=\"_ _0\"></span>tion over long<span class=\"_ _0\"></span>evit<span class=\"_ _0\"></span>y risk.<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>icing ass<span class=\"_ _0\"></span>umption for mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y risk is ba<span class=\"_ _0\"></span>sed on b<span class=\"_ _0\"></span>oth historic intern<span class=\"_ _0\"></span>al information an<span class=\"_ _0\"></span>d extern<span class=\"_ _0\"></span>ally-ge<span class=\"_ _0\"></span>nerate<span class=\"_ _0\"></span>d in<span class=\"_ _2\"></span>for<span class=\"_ _0\"></span>mation on mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span>expe<span class=\"_ _0\"></span>rience<span class=\"_ _0\"></span>, including all<span class=\"_ _0\"></span>owances for f<span class=\"_ _0\"></span>uture mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y improveme<span class=\"_ _0\"></span>nts. Pric<span class=\"_ _0\"></span>ing will also inc<span class=\"_ _0\"></span>lude a contin<span class=\"_ _0\"></span>genc<span class=\"_ _0\"></span>y margin for adver<span class=\"_ _0\"></span>se deviatio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span>in<span class=\"_ gs47\"> </span>as<span class=\"_ _0\"></span>sumptions<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Market and c<span class=\"_ _0\"></span>redit risk is infl<span class=\"_ _0\"></span>uence<span class=\"_ _0\"></span>d by the exte<span class=\"_ _0\"></span>nt to which the ca<span class=\"_ _0\"></span>sh flows unde<span class=\"_ _0\"></span>r the contra<span class=\"_ _0\"></span>cts have b<span class=\"_ _0\"></span>een match<span class=\"_ _0\"></span>ed by suitab<span class=\"_ _0\"></span>le asse<span class=\"_ _0\"></span>ts which<span class=\"_ gs47\"> </span>is<span class=\"_ _3bd\"> </span>man<span class=\"_ _0\"></span>aged un<span class=\"_ _0\"></span>der the ALM fram<span class=\"_ _0\"></span>ework. A<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y modellin<span class=\"_ _0\"></span>g is used to m<span class=\"_ _0\"></span>onitor this pos<span class=\"_ _0\"></span>ition on a reg<span class=\"_ _0\"></span>ular basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Protect<span class=\"_ _0\"></span>ion<span class=\"_ _3bd\"> </span>The<span class=\"_ _0\"></span>se contra<span class=\"_ _0\"></span>cts are t<span class=\"_ _0\"></span>ypica<span class=\"_ _0\"></span>lly secure<span class=\"_ _0\"></span>d by the payme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f a re<span class=\"_ _0\"></span>gular pre<span class=\"_ _0\"></span>mium payable for a pe<span class=\"_ _0\"></span>riod of years p<span class=\"_ _0\"></span>roviding ben<span class=\"_ _0\"></span>efits payable o<span class=\"_ _0\"></span>n cer<span class=\"_ _0\"></span>tain<span class=\"_ _3bd\"> </span>events o<span class=\"_ _0\"></span>ccurrin<span class=\"_ _0\"></span>g within the per<span class=\"_ _0\"></span>iod. The b<span class=\"_ _0\"></span>enefits m<span class=\"_ _0\"></span>ay be a single lum<span class=\"_ _0\"></span>p sum or a serie<span class=\"_ _0\"></span>s of payments a<span class=\"_ _0\"></span>nd may be payab<span class=\"_ _0\"></span>le on death<span class=\"_ _0\"></span>, seriou<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>illnes<span class=\"_ _0\"></span>s or sickne<span class=\"_ _0\"></span>ss.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>ain risk ass<span class=\"_ _0\"></span>ociated w<span class=\"_ _0\"></span>ith this produc<span class=\"_ _0\"></span>t is the claim<span class=\"_ _0\"></span>s experie<span class=\"_ _0\"></span>nce and thi<span class=\"_ _0\"></span>s risk is mana<span class=\"_ _0\"></span>ged thro<span class=\"_ _0\"></span>ugh the initia<span class=\"_ _0\"></span>l pricing of the p<span class=\"_ _0\"></span>olicy (bas<span class=\"_ _0\"></span>ed<span class=\"_ _3bd\"> </span>on<span class=\"_ gs47\"> </span>ac<span class=\"_ _0\"></span>tuarial pr<span class=\"_ _0\"></span>inciples), the us<span class=\"_ _0\"></span>e of reinsuran<span class=\"_ _0\"></span>ce and a cle<span class=\"_ _0\"></span>ar proce<span class=\"_ _0\"></span>ss for adminis<span class=\"_ _0\"></span>tering cla<span class=\"_ _0\"></span>ims.<span class=\"_ _3bd\"> </span>Market and c<span class=\"_ _0\"></span>redit risk is infl<span class=\"_ _0\"></span>uence<span class=\"_ _0\"></span>d by the exte<span class=\"_ _0\"></span>nt to which the ca<span class=\"_ _0\"></span>sh flows unde<span class=\"_ _0\"></span>r the contra<span class=\"_ _0\"></span>cts have b<span class=\"_ _0\"></span>een match<span class=\"_ _0\"></span>ed by suitab<span class=\"_ _0\"></span>le asse<span class=\"_ _0\"></span>ts which<span class=\"_ gs47\"> </span>is<span class=\"_ _3bd\"> </span>man<span class=\"_ _0\"></span>aged un<span class=\"_ _0\"></span>der the ALM fram<span class=\"_ _0\"></span>ework. A<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y modellin<span class=\"_ _0\"></span>g is used to m<span class=\"_ _0\"></span>onitor this pos<span class=\"_ _0\"></span>ition on a reg<span class=\"_ _0\"></span>ular basis<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInsuranceRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-595": {
   "value": "G. Other statement<span class=\"_ _2\"></span> of consolidated financial posi<span class=\"_ _2\"></span>tion notes<span class=\"_ _3bd\"> </span>G1. Pensi<span class=\"_ _2\"></span>on schemes<span class=\"_ _3bd\"> </span>Defined<span class=\"_ _2\"></span> contributi<span class=\"_ _2\"></span>on pension<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span>Oblig<span class=\"_ _0\"></span>ations for co<span class=\"_ _0\"></span>ntributions to de<span class=\"_ _0\"></span>fined contrib<span class=\"_ _0\"></span>ution pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes are rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed as an exp<span class=\"_ _0\"></span>ense in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span> st<span class=\"_ _0\"></span>atement as in<span class=\"_ _0\"></span>curred.<span class=\"_ _3bd\"> </span>Defined benefit<span class=\"_ _2\"></span> pension schemes<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>et surplus or defi<span class=\"_ _0\"></span>cit (the econ<span class=\"_ _0\"></span>omic surplus o<span class=\"_ _0\"></span>r deficit) in res<span class=\"_ _0\"></span>pect of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes is c<span class=\"_ _0\"></span>alculated by e<span class=\"_ _0\"></span>stimating t<span class=\"_ _0\"></span>he<span class=\"_ _3bd\"> </span> amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>uture bene<span class=\"_ _0\"></span>fit that employe<span class=\"_ _0\"></span>es have earn<span class=\"_ _0\"></span>ed in return for the<span class=\"_ _0\"></span>ir ser<span class=\"_ _0\"></span>vice in the curre<span class=\"_ _0\"></span>nt and prior yea<span class=\"_ _0\"></span>rs; that b<span class=\"_ _0\"></span>enefit is dis<span class=\"_ _0\"></span>counted to<span class=\"_ _3bd\"> </span> determin<span class=\"_ _0\"></span>e its pres<span class=\"_ _0\"></span>ent value and t<span class=\"_ _0\"></span>he fair value of any sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>sets is de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d. The Gro<span class=\"_ _0\"></span>up recogn<span class=\"_ _0\"></span>ises a pen<span class=\"_ _0\"></span>sion surplu<span class=\"_ _0\"></span>s on the basis th<span class=\"_ _0\"></span>at it is<span class=\"_ _3bd\"> </span> entitle<span class=\"_ _0\"></span>d to the surplu<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>ach sch<span class=\"_ _0\"></span>eme in the event of a gr<span class=\"_ _0\"></span>adual set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent of the liabilitie<span class=\"_ _0\"></span>s, due to it<span class=\"_ _0\"></span>s ability to o<span class=\"_ _0\"></span>rder a winding up of th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span> The e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus or defic<span class=\"_ _0\"></span>it is subse<span class=\"_ _0\"></span>quently ad<span class=\"_ _0\"></span>justed to e<span class=\"_ _0\"></span>liminate on con<span class=\"_ _0\"></span>solidation th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of ins<span class=\"_ _0\"></span>urance p<span class=\"_ _0\"></span>olicies is<span class=\"_ _0\"></span>sued by Gro<span class=\"_ _0\"></span>up<span class=\"_ _3bd\"> </span> entitie<span class=\"_ _0\"></span>s to the define<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes (the re<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d surplus or d<span class=\"_ _0\"></span>eficit). A corres<span class=\"_ _0\"></span>ponding a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment is mad<span class=\"_ _0\"></span>e to the carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>es of<span class=\"_ _3bd\"> </span> insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act liabili<span class=\"_ _0\"></span>ties and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up determine<span class=\"_ _0\"></span>s the net interes<span class=\"_ _0\"></span>t expen<span class=\"_ _0\"></span>se or incom<span class=\"_ _0\"></span>e on the net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability for t<span class=\"_ _0\"></span>he period by a<span class=\"_ _0\"></span>pplying the d<span class=\"_ _0\"></span>iscount rate use<span class=\"_ _0\"></span>d to measure th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation at the b<span class=\"_ _0\"></span>eginning of th<span class=\"_ _0\"></span>e annual pe<span class=\"_ _0\"></span>riod to the op<span class=\"_ _0\"></span>ening net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability. The disc<span class=\"_ _0\"></span>ount rate is the yie<span class=\"_ _0\"></span>ld at the peri<span class=\"_ _0\"></span>od end on A<span class=\"_ _0\"></span>A credit r<span class=\"_ _0\"></span>ated bond<span class=\"_ _0\"></span>s that have maturi<span class=\"_ _0\"></span>ty dates a<span class=\"_ _0\"></span>pproximating to th<span class=\"_ _0\"></span>e terms of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s oblig<span class=\"_ _0\"></span>ations. T<span class=\"_ _0\"></span>he calc<span class=\"_ _0\"></span>ulation is per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d by a qualified a<span class=\"_ _0\"></span>ctuar<span class=\"_ _0\"></span>y using th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>ted unit cre<span class=\"_ _0\"></span>dit metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>ment in the net p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y is analys<span class=\"_ _0\"></span>ed bet<span class=\"_ _0\"></span>ween the s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>, past s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce cost<span class=\"_ _0\"></span>, cur<span class=\"_ _0\"></span>tailment<span class=\"_ _0\"></span>s and set<span class=\"_ _0\"></span>tlement<span class=\"_ _0\"></span>s (all rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>trative exp<span class=\"_ _0\"></span>enses in th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent), the ne<span class=\"_ _0\"></span>t interest co<span class=\"_ _0\"></span>st on the ne<span class=\"_ _0\"></span>t pension s<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, inclu<span class=\"_ _0\"></span>ding any reimbur<span class=\"_ _0\"></span>sement a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt), remea<span class=\"_ _0\"></span>surement<span class=\"_ _0\"></span>s of the net pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>et/liabili<span class=\"_ _0\"></span>ty (reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in o<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome) and emp<span class=\"_ _0\"></span>loyer contribu<span class=\"_ _0\"></span>tions.<span class=\"_ _3bd\"> </span>The lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y swaps an<span class=\"_ _0\"></span>d quota sha<span class=\"_ _0\"></span>re reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me buy-in<span class=\"_ _0\"></span>s are treated as re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right<span class=\"_ _0\"></span>s and are re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at fair val<span class=\"_ _0\"></span>ue.<span class=\"_ _3bd\"> </span>This note d<span class=\"_ _0\"></span>escribe<span class=\"_ _0\"></span>s the Group\u2019s five main define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t pension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s for its empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>arl Group St<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f Pension S<span class=\"_ _0\"></span>cheme (<span class=\"_ _0\"></span>\u2018Pear<span class=\"_ _0\"></span>l Sc<span class=\"_ _0\"></span>heme\u2019<span class=\"_ _0\"></span>), the PGL Pen<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme, the Ab<span class=\"_ _0\"></span>bey Life Staf<span class=\"_ _0\"></span>f P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sch<span class=\"_ _0\"></span>eme (\u2018Abbey Life Sch<span class=\"_ _0\"></span>eme\u2019<span class=\"_ _0\"></span>) the ReAs<span class=\"_ _0\"></span>sure Staf<span class=\"_ _0\"></span>f P<span class=\"_ _2\"></span>en<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme (\u2018<span class=\"_ _0\"></span>ReAs<span class=\"_ _0\"></span>sure Sc<span class=\"_ _0\"></span>heme\u2019<span class=\"_ _0\"></span>) and from 3 April 2<span class=\"_ _0\"></span>023, th<span class=\"_ _0\"></span>e Sun Life Ass<span class=\"_ _0\"></span>urance C<span class=\"_ _0\"></span>ompany of Cana<span class=\"_ _0\"></span>da 19<span class=\"_ _0\"></span>88 UK a<span class=\"_ _0\"></span>nd Irish Empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Benefit<span class=\"_ _0\"></span>s Sche<span class=\"_ _0\"></span>me (\u2018<span class=\"_ _0\"></span>Sun Life of Cana<span class=\"_ _0\"></span>da Sc<span class=\"_ _0\"></span>heme\u2019<span class=\"_ _0\"></span>), and explain<span class=\"_ _0\"></span>s how the pe<span class=\"_ _0\"></span>nsion sch<span class=\"_ _0\"></span>eme ass<span class=\"_ _0\"></span>et/liab<span class=\"_ _0\"></span>ility is c<span class=\"_ _0\"></span>alculate<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>An anal<span class=\"_ _0\"></span>ysis of the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me (liabilit<span class=\"_ _0\"></span>y)<span class=\"_ _2\"></span>/asset for e<span class=\"_ _0\"></span>ach pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me is set ou<span class=\"_ _0\"></span>t in the table b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span><table class=\"s w93d h28a\" id=\"_5c61d656-2439-4b63-af2f-f610b8bc5abe\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y60e0 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y60e1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y60e2 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td></tr><tr><td></td><td class=\"t m0 x737 h29 y60e3 ff3 fs5 fc3 sc0 lsa0 ws9c\"> \u00a3m</td><td class=\"t m0 xafc ha y60e4 ff2 fs5 fc3 sc0 ls80 ws116\"> \u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y60e5 ff3 fs6 fc3 sc0 ls1 ws1\">Pearl G<span class=\"_ _0\"></span>roup Staf<span class=\"_ _0\"></span>f Pensi<span class=\"_ _0\"></span>on Sch<span class=\"_ _0\"></span>eme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y59fe w93e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Economic surplus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bd y59fe w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7be y59fe w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60e6 w93f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment for in<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>olicies elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a01 y60e6 w82c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,358)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a02 y60e6 w940 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(1<span class=\"_ _0\"></span>,507<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60e7 w941 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme liabili<span class=\"_ _0\"></span>ty, as repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a03 y60e7 w5f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,31<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1785 y60e7 w205 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60e8 w942 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Add: valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>ted to ass<span class=\"_ _0\"></span>ets held by PLL wi<span class=\"_ _0\"></span>thin financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s</div><div class=\"t m0 x1a04 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a05 y60e8 w7dd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">1,<span class=\"_ _0\"></span>348<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a06 y60e8 w943 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,50<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60e9 w944 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right in respe<span class=\"_ _0\"></span>ct of reins<span class=\"_ _0\"></span>urance, a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted (resta<span class=\"_ _0\"></span>ted</div><div class=\"t m0 x1a07 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1a08 hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a09 y60e9 w92 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">1<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0a y60e9 w12b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a02 w945 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Adjusted net<span class=\"_ _2\"></span> pension scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0b y5a02 w158 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">185<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0c y5a02 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">217<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60ea ff3 fs6 fc3 sc0 ls11 ws11\">PGL Pensi<span class=\"_ _2\"></span>on Scheme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y60eb w93e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic surplus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0d y60eb w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0e y60eb w2a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60ec w93f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment for in<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>olicies elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x464 y60ec we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0f y60ec w665 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60ed w946 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts due from sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y eliminated on c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a10 y60ed w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a11 y60ed w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a08 w941 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme liabili<span class=\"_ _0\"></span>ty, as repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a12 y5a08 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a13 y5a08 w327 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>091<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60ee w394 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Add: as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld by PLL within finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets</div><div class=\"t m0 x76c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71a y60ee w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a14 y60ee w714 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1,<span class=\"_ _0\"></span>206<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60ef w944 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right in respe<span class=\"_ _0\"></span>ct of reins<span class=\"_ _0\"></span>urance, a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted (resta<span class=\"_ _0\"></span>ted</div><div class=\"t m0 x1a07 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1a08 hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a15 y60ef w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a16 y60ef wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y603b w947 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws13\">Adjusted net<span class=\"_ _2\"></span> pension scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a17 y603b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a18 y603b w948 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">81<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60f0 ff3 fs6 fc3 sc0 ls1 ws1\">Abb<span class=\"_ _0\"></span>ey Life Staff Pen<span class=\"_ _0\"></span>sion S<span class=\"_ _0\"></span>cheme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c62 w949 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic deficit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a19 y5c62 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1a y5c62 w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60f1 w94a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Minimum f<span class=\"_ _0\"></span>unding req<span class=\"_ _0\"></span>uirement oblig<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1b y60f1 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1c y60f1 w1fb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w94b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme liabili<span class=\"_ _0\"></span>ty<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x652 y5a68 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1d y5a68 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60f2 ff3 fs6 fc3 sc0 ls11 ws11\">ReAssure Sta<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span> Pension Scheme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5bb3 w93e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic surplus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bd y5bb3 w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1e y5bb3 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w94c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Provision for t<span class=\"_ _0\"></span>ax on that pa<span class=\"_ _0\"></span>rt of the e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus availabl<span class=\"_ _0\"></span>e as a refund on a win<span class=\"_ _0\"></span>ding-up of the S<span class=\"_ _0\"></span>cheme<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1f y5bd8 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a20 y5bd8 w324 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w94d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Net pension<span class=\"_ _2\"></span> scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x713 y5afa w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a21 y5afa w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60f3 ff3 fs6 fc3 sc0 ls1 ws1\">Sun Life of C<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>a Sche<span class=\"_ _0\"></span>me<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b25 w94d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Net pension<span class=\"_ _2\"></span> scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x713 y5b25 w58 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2c y5b25 w2c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w94e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5a16 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x36c y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Th<span class=\"_ _0\"></span>e Pearl S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me and t<span class=\"_ _0\"></span>he PGL Pe<span class=\"_ _0\"></span>nsio<span class=\"_ _0\"></span>n Sche<span class=\"_ _0\"></span>me bot<span class=\"_ _0\"></span>h previ<span class=\"_ _0\"></span>ously e<span class=\"_ _0\"></span>xecu<span class=\"_ _0\"></span>ted bu<span class=\"_ _0\"></span>y-in tr<span class=\"_ _0\"></span>ansa<span class=\"_ _0\"></span>ctio<span class=\"_ _0\"></span>ns with a G<span class=\"_ _0\"></span>roup lif<span class=\"_ _0\"></span>e compa<span class=\"_ _0\"></span>ny and s<span class=\"_ _0\"></span>ubse<span class=\"_ _0\"></span>quent<span class=\"_ _0\"></span>ly ass<span class=\"_ _0\"></span>ets su<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>ting t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up\u2019s act<span class=\"_ _0\"></span>uaria<span class=\"_ _0\"></span>l liabil<span class=\"_ _0\"></span>ities w<span class=\"_ _0\"></span>ere rec<span class=\"_ _0\"></span>ogn<span class=\"_ _0\"></span>ised o<span class=\"_ _0\"></span>n a line-<span class=\"_ _0\"></span>by-lin<span class=\"_ _0\"></span>e basi<span class=\"_ _0\"></span>s withi<span class=\"_ _0\"></span>n financ<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s in the s<span class=\"_ _0\"></span>tatem<span class=\"_ _0\"></span>ent of co<span class=\"_ _0\"></span>nsoli<span class=\"_ _0\"></span>date<span class=\"_ _0\"></span>d financ<span class=\"_ _0\"></span>ial po<span class=\"_ _0\"></span>sitio<span class=\"_ _0\"></span>n. Fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s are inc<span class=\"_ _0\"></span>lude<span class=\"_ _0\"></span>d in notes G<span class=\"_ _0\"></span>1.1 an<span class=\"_ _0\"></span>d G1.<span class=\"_ _0\"></span>2 belo<span class=\"_ _0\"></span>w.  <span class=\"_ _19\"> </span>A<span class=\"_ _0\"></span>n adju<span class=\"_ _0\"></span>sted n<span class=\"_ _0\"></span>et pen<span class=\"_ _0\"></span>sion s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e ass<span class=\"_ _0\"></span>et has b<span class=\"_ _0\"></span>een pr<span class=\"_ _0\"></span>esen<span class=\"_ _0\"></span>ted in bo<span class=\"_ _0\"></span>th the cu<span class=\"_ _0\"></span>rrent a<span class=\"_ _0\"></span>nd prio<span class=\"_ _0\"></span>r year<span class=\"_ _0\"></span>s in relat<span class=\"_ _0\"></span>ion to th<span class=\"_ _0\"></span>e Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e and in t<span class=\"_ _0\"></span>he com<span class=\"_ _0\"></span>parat<span class=\"_ _0\"></span>ive per<span class=\"_ _0\"></span>iod in re<span class=\"_ _0\"></span>latio<span class=\"_ _0\"></span>n to the PG<span class=\"_ _0\"></span>L Sch<span class=\"_ _0\"></span>eme. T<span class=\"_ _0\"></span>he val<span class=\"_ _0\"></span>ue of the as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld by P<span class=\"_ _0\"></span>LL withi<span class=\"_ _0\"></span>n financ<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s in resp<span class=\"_ _0\"></span>ect of t<span class=\"_ _0\"></span>he PGL Pe<span class=\"_ _0\"></span>nsio<span class=\"_ _0\"></span>n Sche<span class=\"_ _0\"></span>me bu<span class=\"_ _0\"></span>y-ins w<span class=\"_ _0\"></span>as equ<span class=\"_ _0\"></span>al to the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s pos<span class=\"_ _0\"></span>ted to a ri<span class=\"_ _0\"></span>ng-fe<span class=\"_ _0\"></span>nce<span class=\"_ _0\"></span>d colla<span class=\"_ _0\"></span>teral a<span class=\"_ _0\"></span>cco<span class=\"_ _0\"></span>unt. For t<span class=\"_ _0\"></span>he Pear<span class=\"_ _0\"></span>l Sche<span class=\"_ _0\"></span>me the a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d by PLL sup<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting th<span class=\"_ _0\"></span>e buy-<span class=\"_ _0\"></span>ins are n<span class=\"_ _0\"></span>ot ring<span class=\"_ _0\"></span>-fenc<span class=\"_ _0\"></span>ed and t<span class=\"_ _0\"></span>he valu<span class=\"_ _0\"></span>e has b<span class=\"_ _0\"></span>een de<span class=\"_ _0\"></span>termin<span class=\"_ _0\"></span>ed as th<span class=\"_ _0\"></span>e valu<span class=\"_ _0\"></span>e of the ins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce con<span class=\"_ _0\"></span>trac<span class=\"_ _0\"></span>t liabil<span class=\"_ _0\"></span>ity w<span class=\"_ _0\"></span>ithin th<span class=\"_ _0\"></span>e PLL fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s les<span class=\"_ _0\"></span>s the val<span class=\"_ _0\"></span>ue of the a<span class=\"_ _0\"></span>sso<span class=\"_ _0\"></span>ciate<span class=\"_ _0\"></span>d rei<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>. Movem<span class=\"_ _0\"></span>ents i<span class=\"_ _0\"></span>n thes<span class=\"_ _0\"></span>e finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s are refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in the c<span class=\"_ _0\"></span>onso<span class=\"_ _0\"></span>lidate<span class=\"_ _0\"></span>d inco<span class=\"_ _0\"></span>me st<span class=\"_ _0\"></span>ateme<span class=\"_ _0\"></span>nt with<span class=\"_ _0\"></span>in net inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent inc<span class=\"_ _0\"></span>ome, h<span class=\"_ _0\"></span>owever a<span class=\"_ _0\"></span>s note<span class=\"_ _0\"></span>d in the ac<span class=\"_ _0\"></span>coun<span class=\"_ _0\"></span>ting po<span class=\"_ _0\"></span>licy, th<span class=\"_ _0\"></span>e movem<span class=\"_ _0\"></span>ent in th<span class=\"_ _0\"></span>e net p<span class=\"_ _0\"></span>ensi<span class=\"_ _0\"></span>on sch<span class=\"_ _0\"></span>eme li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>y (as sh<span class=\"_ _0\"></span>own in n<span class=\"_ _0\"></span>otes G1<span class=\"_ _0\"></span>.1 and G1<span class=\"_ _0\"></span>.2) i<span class=\"_ _0\"></span>s prima<span class=\"_ _0\"></span>rily refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in oth<span class=\"_ _0\"></span>er com<span class=\"_ _0\"></span>prehe<span class=\"_ _0\"></span>nsive i<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls13 ws14 gs7fe\">Risks<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs7ff\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s defin<span class=\"_ _0\"></span>ed benefi<span class=\"_ _0\"></span>t schem<span class=\"_ _0\"></span>es typ<span class=\"_ _0\"></span>ically exp<span class=\"_ _0\"></span>ose the Gro<span class=\"_ _0\"></span>up to a number of risks<span class=\"_ _0\"></span>, the mo<span class=\"_ _0\"></span>st signific<span class=\"_ _0\"></span>ant of which are:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs800\">As<span class=\"_ _0\"></span>set volatilit<span class=\"_ _0\"></span>y \u2013 the value of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>es\u2019 asset<span class=\"_ _0\"></span>s will var<span class=\"_ _0\"></span>y as market condit<span class=\"_ _0\"></span>ions chan<span class=\"_ _0\"></span>ge and as su<span class=\"_ _0\"></span>ch is subje<span class=\"_ _0\"></span>ct to con<span class=\"_ _0\"></span>siderabl<span class=\"_ _0\"></span>e v<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>latility. The<span class=\"_ gs47\"> </span>liab<span class=\"_ _0\"></span>ilities </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs801\">are ca<span class=\"_ _0\"></span>lculated us<span class=\"_ _0\"></span>ing a discount r<span class=\"_ _0\"></span>ate set with referen<span class=\"_ _0\"></span>ce to corp<span class=\"_ _0\"></span>orate bond yi<span class=\"_ _0\"></span>elds; if as<span class=\"_ _0\"></span>sets und<span class=\"_ _0\"></span>erper<span class=\"_ _0\"></span>form this yield<span class=\"_ _0\"></span>, this will create a d<span class=\"_ _0\"></span>eficit. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs802\">maj<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s are held wi<span class=\"_ _0\"></span>thin a liabilit<span class=\"_ _0\"></span>y driven investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy which is linked to th<span class=\"_ _0\"></span>e funding ba<span class=\"_ _0\"></span>sis of the sche<span class=\"_ _0\"></span>mes (set with refe<span class=\"_ _0\"></span>rence to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws34 gs803\">governm<span class=\"_ _0\"></span>ent bond y<span class=\"_ _0\"></span>ields). As such<span class=\"_ _0\"></span>, to the exte<span class=\"_ _0\"></span>nt that moveme<span class=\"_ _0\"></span>nts in corp<span class=\"_ _0\"></span>orate bond yi<span class=\"_ _0\"></span>elds are out of line w<span class=\"_ _0\"></span>ith movement<span class=\"_ _0\"></span>s in governme<span class=\"_ _0\"></span>nt bond yield<span class=\"_ _0\"></span>s, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs804\">volatilit<span class=\"_ _0\"></span>y will arise<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs805\">Inflatio<span class=\"_ _0\"></span>n risk \u2013 a signific<span class=\"_ _0\"></span>ant propor<span class=\"_ _0\"></span>tion of the s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ations are linked to inflat<span class=\"_ _0\"></span>ion, and hi<span class=\"_ _0\"></span>gher inflatio<span class=\"_ _0\"></span>n will lead to high<span class=\"_ _0\"></span>er liabilities </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs806\">(althou<span class=\"_ _0\"></span>gh in most c<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>, cap<span class=\"_ _0\"></span>s on the level of inflation<span class=\"_ _0\"></span>ary in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>s are in place to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>ct aga<span class=\"_ _0\"></span>inst ex<span class=\"_ _0\"></span>treme inflati<span class=\"_ _0\"></span>on)<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>e majori<span class=\"_ _0\"></span>ty of the as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>re </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs807\">held w<span class=\"_ _0\"></span>ithin a liabilit<span class=\"_ _0\"></span>y driven investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy which all<span class=\"_ _0\"></span>ows for movement<span class=\"_ _0\"></span>s in inflation<span class=\"_ _0\"></span>, meaning t<span class=\"_ _0\"></span>hat chang<span class=\"_ _0\"></span>es in inflation s<span class=\"_ _0\"></span>hould not m<span class=\"_ _0\"></span>aterially </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs808\">affe<span class=\"_ _0\"></span>ct the surp<span class=\"_ _0\"></span>lus.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs809\">Life expe<span class=\"_ _0\"></span>ctanc<span class=\"_ _0\"></span>y \u2013 the maj<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>es\u2019 obligatio<span class=\"_ _0\"></span>ns are to provide be<span class=\"_ _0\"></span>nefits for the life of th<span class=\"_ _0\"></span>e member t<span class=\"_ _0\"></span>herefore incre<span class=\"_ _0\"></span>ases in life exp<span class=\"_ _0\"></span>ectan<span class=\"_ _0\"></span>cy </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs80a\">will resul<span class=\"_ _0\"></span>t in an increas<span class=\"_ _0\"></span>e in the liabilitie<span class=\"_ _0\"></span>s. For the Pearl a<span class=\"_ _0\"></span>nd PGL s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s, this is la<span class=\"_ _0\"></span>rgely off<span class=\"_ _0\"></span>set by the bu<span class=\"_ _0\"></span>y-in policie<span class=\"_ _0\"></span>s that move in line with th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs80b\">liabilitie<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se buy-in p<span class=\"_ _0\"></span>olicies are elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ee notes G1<span class=\"_ _0\"></span>.1 and G1.<span class=\"_ _0\"></span>2 for fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs80c\">Oth<span class=\"_ _0\"></span>er risk \u2013 A Hig<span class=\"_ _0\"></span>h Cour<span class=\"_ _0\"></span>t legal r<span class=\"_ _0\"></span>uling in June 202<span class=\"_ _0\"></span>3 (Virgin M<span class=\"_ _0\"></span>edia Limited v N<span class=\"_ _0\"></span>TL P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es II Limite<span class=\"_ _0\"></span>d) decid<span class=\"_ _0\"></span>ed that ce<span class=\"_ _0\"></span>rtain r<span class=\"_ _0\"></span>ule amendm<span class=\"_ _0\"></span>ents </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs80d\">were invalid if th<span class=\"_ _0\"></span>ey were not acc<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>d by the corre<span class=\"_ _0\"></span>ct act<span class=\"_ _0\"></span>uarial confirm<span class=\"_ _0\"></span>ation. In J<span class=\"_ _0\"></span>uly 2024, an app<span class=\"_ _0\"></span>eal by Virgin Me<span class=\"_ _0\"></span>dia Limited was d<span class=\"_ _0\"></span>ismisse<span class=\"_ _0\"></span>d by </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs80e\">the Hig<span class=\"_ _0\"></span>h Cour<span class=\"_ _0\"></span>t, af<span class=\"_ _0\"></span>firming the initi<span class=\"_ _0\"></span>al judgme<span class=\"_ _0\"></span>nt. While the r<span class=\"_ _0\"></span>uling only ap<span class=\"_ _0\"></span>plied to the sp<span class=\"_ _0\"></span>ecific pe<span class=\"_ _0\"></span>nsion sch<span class=\"_ _0\"></span>eme in ques<span class=\"_ _0\"></span>tion, it n<span class=\"_ _0\"></span>ow forms par<span class=\"_ _0\"></span>t of case l<span class=\"_ _0\"></span>aw </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs80f\">and c<span class=\"_ _0\"></span>an therefore be e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to apply ac<span class=\"_ _0\"></span>ross other p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs810\">The Gro<span class=\"_ _0\"></span>up has be<span class=\"_ _0\"></span>gun ass<span class=\"_ _0\"></span>essin<span class=\"_ _0\"></span>g the impac<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e ruling on ea<span class=\"_ _0\"></span>ch of the Group\u2019s pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>es. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs811\">For the Abb<span class=\"_ _0\"></span>ey Life Sche<span class=\"_ _0\"></span>me, an exercis<span class=\"_ _0\"></span>e to update the s<span class=\"_ _0\"></span>cheme rul<span class=\"_ _0\"></span>es in 2017 identi<span class=\"_ _0\"></span>fied severa<span class=\"_ _0\"></span>l earlier rul<span class=\"_ _0\"></span>e amendme<span class=\"_ _0\"></span>nts where th<span class=\"_ _0\"></span>e correc<span class=\"_ _0\"></span>t actu<span class=\"_ _0\"></span>arial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs812\">confirm<span class=\"_ _0\"></span>ation coul<span class=\"_ _0\"></span>d not be loc<span class=\"_ _0\"></span>ated. The l<span class=\"_ _0\"></span>egal ad<span class=\"_ _0\"></span>vice the S<span class=\"_ _0\"></span>cheme re<span class=\"_ _0\"></span>ceived at th<span class=\"_ _0\"></span>e time was that it w<span class=\"_ _0\"></span>as unlik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly that any of thes<span class=\"_ _0\"></span>e amendm<span class=\"_ _0\"></span>ents would </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs813\">lea<span class=\"_ _0\"></span>d to a retrospe<span class=\"_ _0\"></span>ctive increa<span class=\"_ _0\"></span>se in bene<span class=\"_ _0\"></span>fits. S<span class=\"_ _0\"></span>ome prec<span class=\"_ _0\"></span>aution<span class=\"_ _0\"></span>ary rem<span class=\"_ _0\"></span>edial me<span class=\"_ _0\"></span>asures were t<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>en a<span class=\"_ _0\"></span>t the time, inc<span class=\"_ _0\"></span>luding a be<span class=\"_ _0\"></span>nefit rece<span class=\"_ _0\"></span>rtific<span class=\"_ _0\"></span>ation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs814\">exercis<span class=\"_ _0\"></span>e. The Group\u2019s view is tha<span class=\"_ _0\"></span>t none of thes<span class=\"_ _0\"></span>e rule amen<span class=\"_ _0\"></span>dments are s<span class=\"_ _0\"></span>ufficie<span class=\"_ _0\"></span>ntly lik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly or material to wa<span class=\"_ _0\"></span>rrant the rec<span class=\"_ _0\"></span>ognition of a p<span class=\"_ _0\"></span>otential </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs815\">oblig<span class=\"_ _0\"></span>ation in the con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt of financial p<span class=\"_ _0\"></span>osition at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs816\">For the Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e and the ReA<span class=\"_ _0\"></span>ssure S<span class=\"_ _0\"></span>cheme, t<span class=\"_ _0\"></span>he Group is not awa<span class=\"_ _0\"></span>re of any previous rule c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s that are suf<span class=\"_ _0\"></span>ficiently likely to war<span class=\"_ _0\"></span>rant the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs817\">rec<span class=\"_ _0\"></span>ognition of a pote<span class=\"_ _0\"></span>ntial obligati<span class=\"_ _0\"></span>on at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4. T<span class=\"_ _0\"></span>he stabili<span class=\"_ _0\"></span>ty of trus<span class=\"_ _0\"></span>tees an<span class=\"_ _0\"></span>d advisor<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d leads th<span class=\"_ _0\"></span>e Group to take the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs818\">pres<span class=\"_ _0\"></span>umption of regula<span class=\"_ _0\"></span>rity. This is co<span class=\"_ _0\"></span>nsistent wi<span class=\"_ _0\"></span>th legal a<span class=\"_ _0\"></span>dvice that th<span class=\"_ _0\"></span>e respe<span class=\"_ _0\"></span>ctive sche<span class=\"_ _0\"></span>mes have rec<span class=\"_ _0\"></span>eived as to wh<span class=\"_ _0\"></span>ether the T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees mu<span class=\"_ _0\"></span>st take any </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs819\">fur<span class=\"_ _0\"></span>ther ac<span class=\"_ _0\"></span>tion at this s<span class=\"_ _0\"></span>tage. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs81a\">The S<span class=\"_ _0\"></span>un Life o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada S<span class=\"_ _0\"></span>cheme w<span class=\"_ _0\"></span>as not \u2018contrac<span class=\"_ _0\"></span>ted-out<span class=\"_ _0\"></span>\u2019 over the rel<span class=\"_ _0\"></span>evant perio<span class=\"_ _0\"></span>d, so has n<span class=\"_ _0\"></span>o exposure to thi<span class=\"_ _0\"></span>s ruling. Inform<span class=\"_ _0\"></span>ation on ea<span class=\"_ _0\"></span>ch of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs81b\">Group\u2019s pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>es is set o<span class=\"_ _0\"></span>ut below.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs81c\">G1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Pea<span class=\"_ _0\"></span>rl Grou<span class=\"_ _0\"></span>p Staf<span class=\"_ _0\"></span>f P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls69 ws18a gs81d\">G1<span class=\"_ _0\"></span>.1<span class=\"_ _0\"></span>.1 S<span class=\"_ _0\"></span>ch<span class=\"_ _0\"></span>em<span class=\"_ _0\"></span>e d<span class=\"_ _0\"></span>eta<span class=\"_ _0\"></span>il<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs81e\">The Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e compris<span class=\"_ _0\"></span>es a final sa<span class=\"_ _0\"></span>lary s<span class=\"_ _0\"></span>ection<span class=\"_ _0\"></span>, a money p<span class=\"_ _0\"></span>urchase s<span class=\"_ _0\"></span>ection a<span class=\"_ _0\"></span>nd a hybrid se<span class=\"_ _0\"></span>ction (a mix of final s<span class=\"_ _0\"></span>alar<span class=\"_ _0\"></span>y and mone<span class=\"_ _0\"></span>y purchas<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs81f\">The<span class=\"_ gs47\"> </span>Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e is close<span class=\"_ _0\"></span>d to new memb<span class=\"_ _0\"></span>ers and h<span class=\"_ _0\"></span>as no ac<span class=\"_ _0\"></span>tive membe<span class=\"_ _0\"></span>rs.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls10 ws10 gs820\">Defined be<span class=\"_ _2\"></span>nefit scheme<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs821\">The Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e is est<span class=\"_ _0\"></span>ablished un<span class=\"_ _0\"></span>der<span class=\"_ _2\"></span>, an<span class=\"_ _0\"></span>d governe<span class=\"_ _0\"></span>d by<span class=\"_ _2\"></span>, the tru<span class=\"_ _0\"></span>st dee<span class=\"_ _0\"></span>ds and rule<span class=\"_ _0\"></span>s and has b<span class=\"_ _0\"></span>een fund<span class=\"_ _0\"></span>ed by payment of c<span class=\"_ _0\"></span>ontribution<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs822\">sep<span class=\"_ _0\"></span>arately adm<span class=\"_ _0\"></span>inistered t<span class=\"_ _0\"></span>rust fun<span class=\"_ _0\"></span>d. A Group com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>, Pearl Life H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (\u2018<span class=\"_ _0\"></span>P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>LHL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>), is from 1 Oc<span class=\"_ _0\"></span>tober 2023 th<span class=\"_ _0\"></span>e principa<span class=\"_ _0\"></span>l employer of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs823\">Pearl S<span class=\"_ _0\"></span>cheme (p<span class=\"_ _0\"></span>reviously Pea<span class=\"_ _0\"></span>rl Group Holdin<span class=\"_ _0\"></span>gs No.<span class=\"_ _0\"></span>2 Limited (\u2018<span class=\"_ _0\"></span>PGH<span class=\"_ _0\"></span>2\u2019<span class=\"_ _0\"></span>))<span class=\"_ _2\"></span>. Pe<span class=\"_ _0\"></span>LHL ass<span class=\"_ _0\"></span>umed the S<span class=\"_ _0\"></span>cheme c<span class=\"_ _0\"></span>ovenant toge<span class=\"_ _0\"></span>ther with all ob<span class=\"_ _0\"></span>ligations of th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls12 ws13 gs824\">Scheme fol<span class=\"_ _2\"></span>lowing the<span class=\"_ _2\"></span> transfer<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs825\">The pr<span class=\"_ _0\"></span>incipal emp<span class=\"_ _0\"></span>loyer meet<span class=\"_ _0\"></span>s the adminis<span class=\"_ _0\"></span>tration exp<span class=\"_ _0\"></span>enses of th<span class=\"_ _0\"></span>e P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>arl Sch<span class=\"_ _0\"></span>eme. The Pea<span class=\"_ _0\"></span>rl Sche<span class=\"_ _0\"></span>me is adminis<span class=\"_ _0\"></span>tered by a sep<span class=\"_ _0\"></span>arate trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs826\">P<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>A<span class=\"_ _0\"></span>.<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>. (Pen<span class=\"_ _0\"></span>sions) Limited<span class=\"_ _0\"></span>, which is sep<span class=\"_ _0\"></span>arate from PeLHL<span class=\"_ _0\"></span>. The trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any is compris<span class=\"_ _0\"></span>ed of three re<span class=\"_ _0\"></span>present<span class=\"_ _0\"></span>atives from the Gro<span class=\"_ _0\"></span>up, three me<span class=\"_ _0\"></span>mber </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs827\">nomin<span class=\"_ _0\"></span>ated repres<span class=\"_ _0\"></span>entatives a<span class=\"_ _0\"></span>nd one inde<span class=\"_ _0\"></span>pendent t<span class=\"_ _0\"></span>rustee in a<span class=\"_ _0\"></span>ccorda<span class=\"_ _0\"></span>nce with the tr<span class=\"_ _0\"></span>ustee c<span class=\"_ _0\"></span>ompany\u2019s artic<span class=\"_ _0\"></span>les of ass<span class=\"_ _0\"></span>ociation<span class=\"_ _0\"></span>. The trus<span class=\"_ _0\"></span>tee is require<span class=\"_ _0\"></span>d by </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs828\">law to ac<span class=\"_ _0\"></span>t in the interes<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f all re<span class=\"_ _0\"></span>levant ben<span class=\"_ _0\"></span>eficiaries an<span class=\"_ _0\"></span>d is respon<span class=\"_ _0\"></span>sible for the inves<span class=\"_ _0\"></span>tment polic<span class=\"_ _0\"></span>y with reg<span class=\"_ _0\"></span>ard to the ass<span class=\"_ _0\"></span>ets.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs829\">The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the Pearl S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 2024, un<span class=\"_ _0\"></span>der<span class=\"_ _0\"></span>tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n by qualified a<span class=\"_ _0\"></span>ctuarie<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs82a\">The pre<span class=\"_ _0\"></span>sent value<span class=\"_ _0\"></span>s of the defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation and th<span class=\"_ _0\"></span>e related intere<span class=\"_ _0\"></span>st cos<span class=\"_ _0\"></span>ts have be<span class=\"_ _0\"></span>en meas<span class=\"_ _0\"></span>ured using th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>ted unit cre<span class=\"_ _0\"></span>dit method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs82b\">A trienn<span class=\"_ _0\"></span>ial funding va<span class=\"_ _0\"></span>luation of the Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e as at 30 Jun<span class=\"_ _0\"></span>e 2021 was co<span class=\"_ _0\"></span>mpleted in 20<span class=\"_ _0\"></span>22 by a qualified a<span class=\"_ _0\"></span>ctuar<span class=\"_ _0\"></span>y. This showe<span class=\"_ _0\"></span>d a surplus as at </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs82c\">30 J<span class=\"_ _0\"></span>une 2021 of \u00a367 milli<span class=\"_ _0\"></span>on, on the a<span class=\"_ _0\"></span>greed te<span class=\"_ _0\"></span>chnical p<span class=\"_ _0\"></span>rovisions ba<span class=\"_ _0\"></span>sis. The f<span class=\"_ _0\"></span>unding and I<span class=\"_ _0\"></span>FRS acc<span class=\"_ _0\"></span>ounting bas<span class=\"_ _0\"></span>es of valuation c<span class=\"_ _0\"></span>an give rise to dif<span class=\"_ _0\"></span>ferent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs82d\">result<span class=\"_ _0\"></span>s for a numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>asons<span class=\"_ _0\"></span>. The fund<span class=\"_ _0\"></span>ing basis of valu<span class=\"_ _0\"></span>ation is base<span class=\"_ _0\"></span>d on gen<span class=\"_ _0\"></span>eral princ<span class=\"_ _0\"></span>iples of prude<span class=\"_ _0\"></span>nce whe<span class=\"_ _0\"></span>reas the ac<span class=\"_ _0\"></span>counting va<span class=\"_ _0\"></span>luation is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs82e\">bas<span class=\"_ _0\"></span>ed on bes<span class=\"_ _0\"></span>t estim<span class=\"_ _0\"></span>ates. Di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>s are gilt-base<span class=\"_ _0\"></span>d for the fundin<span class=\"_ _0\"></span>g valuation wh<span class=\"_ _0\"></span>ereas the r<span class=\"_ _0\"></span>ate used for I<span class=\"_ _0\"></span>FRS valuation p<span class=\"_ _0\"></span>urpose<span class=\"_ _0\"></span>s is base<span class=\"_ _0\"></span>d on a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs82f\">yield c<span class=\"_ _0\"></span>urve for high q<span class=\"_ _0\"></span>uality A<span class=\"_ _0\"></span>A-rated c<span class=\"_ _0\"></span>orporate b<span class=\"_ _0\"></span>onds. In a<span class=\"_ _0\"></span>ddition<span class=\"_ _0\"></span>, the values are p<span class=\"_ _0\"></span>repared at dif<span class=\"_ _0\"></span>ferent date<span class=\"_ _0\"></span>s which will result in dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>es arising </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs830\">from ch<span class=\"_ _0\"></span>anges in m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions a<span class=\"_ _0\"></span>nd employer c<span class=\"_ _0\"></span>ontributions m<span class=\"_ _0\"></span>ade in the sub<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nt period<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div>Pension Scheme Commitment Agreement and<span class=\"_ _2\"></span> buy-in transac<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span>On 17 Nove<span class=\"_ _0\"></span>mber 2020<span class=\"_ _0\"></span>, the Pearl Sc<span class=\"_ _0\"></span>heme ente<span class=\"_ _0\"></span>red into a Commi<span class=\"_ _0\"></span>tment Agre<span class=\"_ _0\"></span>ement with P<span class=\"_ _0\"></span>GH2 to compl<span class=\"_ _0\"></span>ete a series of bu<span class=\"_ _0\"></span>y-ins. At the s<span class=\"_ _0\"></span>ame time<span class=\"_ _0\"></span>, the Pearl S<span class=\"_ _0\"></span>cheme c<span class=\"_ _0\"></span>ompleted th<span class=\"_ _0\"></span>e first bu<span class=\"_ _0\"></span>y-in with Phoe<span class=\"_ _0\"></span>nix Life Limited (\u2018<span class=\"_ _0\"></span>PLL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>) coverin<span class=\"_ _0\"></span>g 25% o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>ensione<span class=\"_ _0\"></span>r and deferred m<span class=\"_ _0\"></span>ember li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, tran<span class=\"_ _0\"></span>sferring the a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated risks<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ent risk, to PLL ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>ive from 30 Se<span class=\"_ _0\"></span>ptember 20<span class=\"_ _0\"></span>20.<span class=\"_ _3bd\"> </span>T<span class=\"_ _4\"></span>wo f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r buy-in tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tions were com<span class=\"_ _0\"></span>pleted in July 2<span class=\"_ _0\"></span>021 and Oc<span class=\"_ _0\"></span>tober 202<span class=\"_ _0\"></span>1 covering 3<span class=\"_ _0\"></span>5% and 15% resp<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>ly of the Sch<span class=\"_ _0\"></span>eme\u2019s pension<span class=\"_ _0\"></span>er and deferre<span class=\"_ _0\"></span>d membe<span class=\"_ _0\"></span>r liabilities an<span class=\"_ _0\"></span>d the final bu<span class=\"_ _0\"></span>y-in transa<span class=\"_ _0\"></span>ction was c<span class=\"_ _0\"></span>omplete<span class=\"_ _0\"></span>d in November 2<span class=\"_ _0\"></span>022. Risks<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ent risk, we<span class=\"_ _0\"></span>re tran<span class=\"_ _0\"></span>sferred to PLL ef<span class=\"_ _0\"></span>fective fro<span class=\"_ _0\"></span>m 28 May 2021 an<span class=\"_ _0\"></span>d 31 Augus<span class=\"_ _0\"></span>t 2021 and 3<span class=\"_ _0\"></span>0 Septem<span class=\"_ _0\"></span>ber 2022 re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively. Upon c<span class=\"_ _0\"></span>ompletion of e<span class=\"_ _0\"></span>ach buy<span class=\"_ _0\"></span>-in transa<span class=\"_ _0\"></span>ction the S<span class=\"_ _0\"></span>cheme tr<span class=\"_ _0\"></span>ansferre<span class=\"_ _0\"></span>d plan as<span class=\"_ _0\"></span>sets to PLL an<span class=\"_ _0\"></span>d these as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in the re<span class=\"_ _0\"></span>levant line within finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d statem<span class=\"_ _0\"></span>ent of financia<span class=\"_ _0\"></span>l position<span class=\"_ _0\"></span>. The ec<span class=\"_ _0\"></span>onomic ef<span class=\"_ _0\"></span>fect of the bu<span class=\"_ _0\"></span>y-in trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s in the Sch<span class=\"_ _0\"></span>eme is to repla<span class=\"_ _0\"></span>ce the plan a<span class=\"_ _0\"></span>ssets t<span class=\"_ _0\"></span>ransferre<span class=\"_ _0\"></span>d with a singl<span class=\"_ _0\"></span>e line insuran<span class=\"_ _0\"></span>ce policy re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right as<span class=\"_ _0\"></span>set whic<span class=\"_ _0\"></span>h is subseq<span class=\"_ _0\"></span>uently elimin<span class=\"_ _0\"></span>ated on con<span class=\"_ _0\"></span>solidation<span class=\"_ _0\"></span>. The value of<span class=\"_ gs47\"> </span>this insur<span class=\"_ _0\"></span>ance po<span class=\"_ _0\"></span>licy at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 was \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>358 m<span class=\"_ _0\"></span>illion (2023: \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>50<span class=\"_ _2\"></span>7 milli<span class=\"_ _0\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>No co<span class=\"_ _0\"></span>ntributions we<span class=\"_ _0\"></span>re paid to the Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e in either the c<span class=\"_ _0\"></span>urrent or prior p<span class=\"_ _0\"></span>eriod. PeLH<span class=\"_ _0\"></span>L meet<span class=\"_ _0\"></span>s the adminis<span class=\"_ _0\"></span>trative and n<span class=\"_ _0\"></span>on-investme<span class=\"_ _0\"></span>nt running expe<span class=\"_ _0\"></span>nses of the S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>s set out in th<span class=\"_ _0\"></span>e sched<span class=\"_ _0\"></span>ule of contribution<span class=\"_ _0\"></span>s (PGH2 p<span class=\"_ _0\"></span>rior to 1 Octob<span class=\"_ _0\"></span>er 2023).<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g 2022, the C<span class=\"_ _0\"></span>ompany rea<span class=\"_ _0\"></span>ched an a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nt for the removal of a tr<span class=\"_ _0\"></span>ustee dis<span class=\"_ _0\"></span>cretion to pay so<span class=\"_ _0\"></span>me pensio<span class=\"_ _0\"></span>n increas<span class=\"_ _0\"></span>es in exces<span class=\"_ _0\"></span>s of the 5% cap. The tr<span class=\"_ _0\"></span>ustee ag<span class=\"_ _0\"></span>reed to give up th<span class=\"_ _0\"></span>is discretion in exc<span class=\"_ _0\"></span>hange for a s<span class=\"_ _0\"></span>ingle 1.<span class=\"_ _0\"></span>6% uplif<span class=\"_ _0\"></span>t for current pe<span class=\"_ _0\"></span>nsions in pay<span class=\"_ _0\"></span>ment effe<span class=\"_ _0\"></span>ctive from 1 April 2<span class=\"_ _0\"></span>022 and a 1.<span class=\"_ _0\"></span>3% incre<span class=\"_ _0\"></span>ase to eligib<span class=\"_ _0\"></span>le benefit<span class=\"_ _0\"></span>s of both pens<span class=\"_ _0\"></span>ion and deferre<span class=\"_ _0\"></span>d membe<span class=\"_ _0\"></span>rs effe<span class=\"_ _0\"></span>ctive from 1 April 2<span class=\"_ _0\"></span>023. In 20<span class=\"_ _0\"></span>23, the fin<span class=\"_ _0\"></span>ancial imp<span class=\"_ _0\"></span>act of the 1<span class=\"_ _0\"></span>.3% uplif<span class=\"_ _0\"></span>t was to re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>e an increas<span class=\"_ _0\"></span>e in the define<span class=\"_ _0\"></span>d benefit ob<span class=\"_ _0\"></span>ligation of \u00a312 m<span class=\"_ _0\"></span>illion and a pas<span class=\"_ _0\"></span>t ser<span class=\"_ _0\"></span>vice cos<span class=\"_ _0\"></span>t in the cons<span class=\"_ _0\"></span>olidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Reimbu<span class=\"_ _2\"></span>rsement ri<span class=\"_ _2\"></span>ght asset<span class=\"_ _2\"></span> in respect o<span class=\"_ _2\"></span>f reinsu<span class=\"_ _2\"></span>rance arrangemen<span class=\"_ _2\"></span>ts<span class=\"_ _3bd\"> </span>As par<span class=\"_ _0\"></span>t of the third b<span class=\"_ _0\"></span>uy-in arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>, PLL entered into a qu<span class=\"_ _0\"></span>ota share rein<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ment with ex<span class=\"_ _0\"></span>ternal rein<span class=\"_ _0\"></span>surers to rein<span class=\"_ _0\"></span>sure a total of approxim<span class=\"_ _0\"></span>ately 91% of the li<span class=\"_ _0\"></span>abilities. A<span class=\"_ _0\"></span>s PLL expec<span class=\"_ _0\"></span>ts to use th<span class=\"_ _0\"></span>e claims re<span class=\"_ _0\"></span>ceived to pay for it<span class=\"_ _0\"></span>s obligatio<span class=\"_ _0\"></span>ns under th<span class=\"_ _0\"></span>e insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t bet<span class=\"_ _0\"></span>ween it and the Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e (i.e. to set<span class=\"_ _0\"></span>tle the define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t obligation) th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement is c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to be a non-<span class=\"_ _0\"></span>qualify<span class=\"_ _0\"></span>ing insuran<span class=\"_ _0\"></span>ce polic<span class=\"_ _0\"></span>y and is c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d as a reimbur<span class=\"_ _0\"></span>sement r<span class=\"_ _0\"></span>ight. The rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e arrang<span class=\"_ _0\"></span>ement is exp<span class=\"_ _0\"></span>ected to m<span class=\"_ _0\"></span>atch a propor<span class=\"_ _0\"></span>tion of the defi<span class=\"_ _0\"></span>ned ben<span class=\"_ _0\"></span>efit obligati<span class=\"_ _0\"></span>on of the Pearl S<span class=\"_ _0\"></span>cheme th<span class=\"_ _0\"></span>erefore the valua<span class=\"_ _0\"></span>tion of the reimbur<span class=\"_ _0\"></span>sement r<span class=\"_ _0\"></span>ight is consis<span class=\"_ _0\"></span>tent with the va<span class=\"_ _0\"></span>luation of the as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation. The<span class=\"_ gs47\"> </span>val<span class=\"_ _0\"></span>ue of the reimbur<span class=\"_ _0\"></span>sement rig<span class=\"_ _0\"></span>ht asset a<span class=\"_ _0\"></span>mounted to \u00a3<span class=\"_ _0\"></span>181 million (31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023: \u00a3<span class=\"_ _0\"></span>202 million).<span class=\"_ _3bd\"> </span>PLL also e<span class=\"_ _0\"></span>ntered into long<span class=\"_ _0\"></span>evit<span class=\"_ _0\"></span>y swap arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s with ex<span class=\"_ _0\"></span>ternal reins<span class=\"_ _0\"></span>urers to reins<span class=\"_ _0\"></span>ure a propor<span class=\"_ _0\"></span>tion of the risks tr<span class=\"_ _0\"></span>ansferre<span class=\"_ _0\"></span>d as par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e first<span class=\"_ _0\"></span>, se<span class=\"_ _0\"></span>cond and fo<span class=\"_ _0\"></span>urth bu<span class=\"_ _0\"></span>y-in trans<span class=\"_ _0\"></span>actions<span class=\"_ _0\"></span>. The fair va<span class=\"_ _0\"></span>lue of the reimbur<span class=\"_ _0\"></span>sement ri<span class=\"_ _0\"></span>ght liabilities am<span class=\"_ _0\"></span>ounted to \u00a33<span class=\"_ _0\"></span>4 million (31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023: \u00a33<span class=\"_ _0\"></span>4 million (rest<span class=\"_ _0\"></span>ated)). F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etails of the res<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt are include<span class=\"_ _0\"></span>d in note A3.<span class=\"_ _3bd\"> </span>G1.1.2 Summary of<span class=\"_ _2\"></span> amounts recognised<span class=\"_ _2\"></span> in the consol<span class=\"_ _2\"></span>idated financial<span class=\"_ _2\"></span> statements<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>2024<span class=\"_ _3bd\"> </span><table class=\"s w94f h28b\" id=\"_dece9350-c69e-4966-85c5-b236a6fc37ef\"><tr><td></td><td class=\"t m0 x164f h29 y60f4 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y60f4 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x7c6 h29 y60f4 ff3 fs5 fc3 sc0 ls54 ws7f\">Pension<span class=\"_ _2\"></span> Scheme </td><td class=\"t m0 x1a23 h29 y60f4 ff3 fs5 fc3 sc0 ls65 wsc0\">Reimburse<span class=\"_ _0\"></span>ment </td></tr><tr><td></td><td class=\"t m0 xae5 h29 y60f5 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y60f5 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x5bf h29 y60f5 ff3 fs5 fc3 sc0 ls65 wsc0\">Liability<span class=\"_ _3bd\"> </span></td><td class=\"c x1a24 y60f6 w4f7 h28c\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4e ws48\">rights</div><div class=\"t m0 x9e5 h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x542 h29 y60f7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y60f7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y60f7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y60f8 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60f9 w950 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a25 y60f9 w98 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a26 y60f9 w278 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a27 y60f9 w951 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1de ws1f9\">(1,<span class=\"_ _0\"></span>457<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a28 y60f9 w14e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">202<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60fa w952 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2a y60ee w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2b y60ee we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2c y60ee we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2d y60ee w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60fb w953 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry (rest<span class=\"_ _0\"></span>ated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2e y60fb w98 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2f y60fb w954 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a30 y60fb w951 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>457)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a31 y60fb w41a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60fc w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y60fc wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a33 y60fc w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a34 y60fc w955 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(65<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a35 y60fc wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y601f w956 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Incl<span class=\"_ _0\"></span>uded in profit or l<span class=\"_ _0\"></span>oss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a36 y601f w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a37 y601f w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>67)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a38 y601f w957 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(65<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a39 y601f wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60fd ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y60fe w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3a y60fe w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3b y60fe w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3c y60fe w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3d y60fe w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y60ff w959 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in demo<span class=\"_ _0\"></span>graphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y60ff w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3f y60ff w95a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a40 y60ff w95a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a41 y60ff we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6100 w95b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y6100 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a43 y6100 w24e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a44 y6100 w1c1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a45 y6100 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6101 w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y6101 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a46 y6101 w4da h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a47 y6101 w4da h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a48 y6101 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6102 w95d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent in valuation of reim<span class=\"_ _0\"></span>bursem<span class=\"_ _0\"></span>ent right as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a49 y6102 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4a y6102 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4b y6102 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4c y6102 w2f6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4d y5afa w381 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a8 y5afa wfd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4e y5afa wbd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">112<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4f y5afa w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w95f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rece<span class=\"_ _0\"></span>ived from insur<span class=\"_ _0\"></span>ance poli<span class=\"_ _0\"></span>cies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe28 y5c15 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5c15 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a51 y5c15 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a52 y5c15 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c4b w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a53 y5c4b w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a54 y5c4b wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a55 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a56 y5c4b w961 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a57 y5a16 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a58 y5a16 w962 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>358)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a59 y5a16 w5f3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>310<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5a y5a16 w1af h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">147<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>2  R<span class=\"_ _0\"></span>eimbursem<span class=\"_ _0\"></span>ent right asset \u00a318<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span> millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span> an<span class=\"_ _0\"></span>d reimburseme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span> lia<span class=\"_ _0\"></span>bilities \u00a3(34) million (2023: \u00a32<span class=\"_ _0\"></span>02 million and \u00a3(34).<span class=\"_ _3bd\"> </span><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls65 wsc0 gs854\">2023<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s w96d h28e\" id=\"_35972981-15ee-4acb-950e-4fc5b69cd5a7\"><tr><td></td><td class=\"t m0 x1a6d ha y610b ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> </td><td class=\"t m0 x57d ha y610b ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td class=\"t m0 x557 ha y610b ff2 fs5 fc3 sc0 ls4d wsbf\">Pension<span class=\"_ _2\"></span> Scheme </td><td class=\"t m0 x9cd ha y610b ff2 fs5 fc3 sc0 ls21 ws23\">Reimbur<span class=\"_ _0\"></span>sement </td></tr><tr><td></td><td class=\"t m0 xb79 ha y610c ff2 fs5 fc3 sc0 ls1 ws1\">of sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xa78 ha y610c ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x79a ha y610c ff2 fs5 fc3 sc0 ls21 ws23\">Liabilit<span class=\"_ _0\"></span>y </td><td class=\"c x1a24 y610d w96e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls36 ws33\">right</div><div class=\"t m0 x1a6e h174 y5af0 ff2 fs17 fc3 sc0 ls1f3 ws213\">1,2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x542 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y610f w950 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6f y610f w1a1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a70 y610f w96f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>1,5<span class=\"_ _0\"></span>01)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a71 y610f w970 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">(1,455)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a72 y610f w51 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60f9 w952 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c8 y60f9 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a73 y60f9 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a74 y60f9 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a75 y60f9 w730 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(17<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af4 w971 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>restated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a76 y5af4 w199 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a77 y5af4 w972 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>01)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a78 y5af4 w973 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">(1,4<span class=\"_ _2\"></span>55)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a79 y5af4 w39d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">188<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y603b w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y603b wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7a y603b w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>72)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x487 y603b w974 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1de ws1f9\">(<span class=\"_ _0\"></span>70)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7b y603b wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c6e w975 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc wsb\">Past service<span class=\"_ _2\"></span> cost<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5c6e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7d y5c6e w1ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7e y5c6e w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7f y5c6e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a66 w976 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a80 y5a66 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a81 y5a66 w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(8<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a82 y5a66 w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a83 y5a66 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6110 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y6111 w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a84 y6111 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a85 y6111 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a86 y6111 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a87 y6111 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a69 w977 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y5a69 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a89 y5a69 w204 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8a y5a69 w204 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8b y5a69 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bf4 w978 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5bf4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8d y5bf4 w979 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8e y5bf4 w22c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e7 y5bf4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c73 w97a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xperien<span class=\"_ _0\"></span>ce gain<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8f y5c73 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54b y5c73 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a90 y5c73 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a91 y5c73 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6112 w95d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent in valuation of reim<span class=\"_ _0\"></span>bursem<span class=\"_ _0\"></span>ent right as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a49 y6112 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a92 y6112 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a93 y6112 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a94 y6112 w392 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>16)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a95 y5afa wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4 y5afa w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a96 y5afa w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a97 y5afa w37b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w95f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rece<span class=\"_ _0\"></span>ived from insur<span class=\"_ _0\"></span>ance poli<span class=\"_ _0\"></span>cies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe28 y5a46 wd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a98 y5a46 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a99 y5a46 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9a y5a46 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9b y5a47 w312 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>02)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9c y5a47 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9d y5a47 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9e y5a47 w925 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a57 y5a16 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9f y5a16 w97b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa0 y5a16 w205 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,457<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa1 y5a16 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">168<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs855\">1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls21 ws23 gs856\">2  R<span class=\"_ _0\"></span>eimbursem<span class=\"_ _0\"></span>ent right asset \u00a3202 million an<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> reim<span class=\"_ _0\"></span>bursement rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span> liab<span class=\"_ _0\"></span>ilities \u00a3(34) million (2022: \u00a320<span class=\"_ _0\"></span>5 million and \u00a3(17) million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs857\">G1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs858\">The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs859\"><table class=\"s w541 h28d\" id=\"_331f6b6e-3168-481e-b565-69b00a857abf\"><tr><td></td><td></td><td class=\"c n xed4 y6103 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y6103 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6104 ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y6104 ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y6105 ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x1a5c ha y6105 ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an a<span class=\"_ _0\"></span>ctive </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6106 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y6106 ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 ha y6106 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e ha y6106 ff2 fs5 fc3 sc0 ls9c ws97\">ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6107 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6107 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6107 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6107 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6108 w963 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa82 y6108 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5d y6108 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa80 y6108 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa81 y6108 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6109 w964 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">He<span class=\"_ _0\"></span>dge fund<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5e y6109 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaf y6109 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5f y6109 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a60 y6109 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b48 w965 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a61 y5b48 wcd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5b48 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a62 y5b48 w4ef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a63 y5b48 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 w966 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Reported sc<span class=\"_ _2\"></span>heme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa96 y6099 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a64 y6099 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ed y6099 w2b5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a65 y6099 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y610a ff2 fs6 fc3 sc0 ls11 ws11\">Add back:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b43 w967 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance po<span class=\"_ _0\"></span>licies elimin<span class=\"_ _0\"></span>ated on cons<span class=\"_ _0\"></span>olidation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a66 y5b43 w968 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">1<span class=\"_ _0\"></span>,35<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a67 y5b43 w969 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">1,<span class=\"_ _0\"></span>358<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a68 y5b43 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a69 y5b43 w71b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w96a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Economic value<span class=\"_ _2\"></span> of assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6a y5b4c w96b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls177 ws186\">1,40<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6b y5b4c w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,363<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6c y5b4c w132 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,557<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x486 y5b4c w96c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs85a\">G1.1.4 Defined benefit<span class=\"_ _2\"></span> obligation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs85b\">The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs85c\">\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 2<span class=\"_ _0\"></span>9% (2023: 3<span class=\"_ _0\"></span>3%); and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs85d\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 71% (202<span class=\"_ _2\"></span>3: 67%).<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs85e\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 10 ye<span class=\"_ _0\"></span>ars (2023: 1<span class=\"_ _0\"></span>3.<span class=\"_ _0\"></span>5 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls1a ws1b gs85f\">Principal as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs860\">The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the Pea<span class=\"_ _0\"></span>rl Sche<span class=\"_ _0\"></span>me are set out in t<span class=\"_ _0\"></span>he table b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h29 ff3 fs5 fc3 sc0 lsa4 ws9f gs861\">2024<span class=\"_ _0\"></span> </div><div class=\"t m0 h29 ff3 fs5 fc3 sc0 ls1 ws1 gs862\">%<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs863\">202<span class=\"_ _0\"></span>3 </div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs864\">%<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs865\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (5% per ann<span class=\"_ _0\"></span>um or RPI if lower)<span class=\"_ _30a\"> </span><span class=\"ff3 ls1d0 ws1e9\">3.0<span class=\"_ _0\"></span>0<span class=\"_ _109\"> </span></span><span class=\"ls5b ws1f8\">2.<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs866\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns (\u2018CPI<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>)<span class=\"_ _284\"> </span><span class=\"ff3 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.7<span class=\"_ _0\"></span>0<span class=\"_ _4b\"> </span></span><span class=\"ls1e0 ws1fb\">2.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs867\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _30b\"> </span><span class=\"ff3 ls1d4 ws1ed\">5.55<span class=\"_ _8a\"> </span></span><span class=\"ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs868\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _1ea\"> </span><span class=\"ff3 ls1d0 ws1e9\">3.20<span class=\"_ _4b\"> </span></span><span class=\"ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs869\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _1d8\"> </span><span class=\"ff3 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _4b\"> </span></span><span class=\"ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs86a\">The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yi<span class=\"_ _0\"></span>eld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs86b\">of the Pearl S<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s liabilitie<span class=\"_ _0\"></span>s. This m<span class=\"_ _0\"></span>ethod dete<span class=\"_ _0\"></span>rmines an e<span class=\"_ _0\"></span>quivalent sing<span class=\"_ _0\"></span>le rate for eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e discount an<span class=\"_ _0\"></span>d inflation rate<span class=\"_ _0\"></span>s, which i<span class=\"_ _0\"></span>s derived from </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs86c\">the profile of pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>ted benefi<span class=\"_ _0\"></span>t payments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div>The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with a s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>-spec<span class=\"_ _0\"></span>ific table whi<span class=\"_ _0\"></span>ch was derive<span class=\"_ _0\"></span>d from the ac<span class=\"_ _0\"></span>tual mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y exper<span class=\"_ _0\"></span>ience in re<span class=\"_ _0\"></span>cent year<span class=\"_ _0\"></span>s based o<span class=\"_ _0\"></span>n the SAPS st<span class=\"_ _0\"></span>andard t<span class=\"_ _0\"></span>ables for mal<span class=\"_ _0\"></span>es and for fema<span class=\"_ _0\"></span>les base<span class=\"_ _0\"></span>d on year of use. Fut<span class=\"_ _0\"></span>ure longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ents from 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2017 are bas<span class=\"_ _0\"></span>ed on ame<span class=\"_ _0\"></span>nded CM<span class=\"_ _0\"></span>I 2023 Co<span class=\"_ _0\"></span>re Projec<span class=\"_ _0\"></span>tions (2023: From 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2017 base<span class=\"_ _0\"></span>d on amen<span class=\"_ _0\"></span>ded CM<span class=\"_ _0\"></span>I 2022 Core Pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>tions) and a lon<span class=\"_ _0\"></span>g-term rate of improveme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f 1<span class=\"_ _0\"></span>.6% (2<span class=\"_ _0\"></span>023: 1.<span class=\"_ _0\"></span>5%) per annum for m<span class=\"_ _0\"></span>ales and 1<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>% (2023: 1<span class=\"_ _0\"></span>.2%) per a<span class=\"_ _0\"></span>nnum for female<span class=\"_ _0\"></span>s. Unde<span class=\"_ _0\"></span>r these a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s, the aver<span class=\"_ _0\"></span>age life expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy from retirem<span class=\"_ _0\"></span>ent for a memb<span class=\"_ _0\"></span>er currently a<span class=\"_ _0\"></span>ged 4<span class=\"_ _0\"></span>0 retiring at ag<span class=\"_ _0\"></span>e 60 is 29<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 year<span class=\"_ _0\"></span>s and 30<span class=\"_ _0\"></span>.4 years for m<span class=\"_ _0\"></span>ale and femal<span class=\"_ _0\"></span>e membe<span class=\"_ _0\"></span>rs resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y (2023: 29<span class=\"_ _0\"></span>.0 years and 3<span class=\"_ _0\"></span>0.3 ye<span class=\"_ _0\"></span>ars resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span>A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span><table class=\"s w97c h28f\" id=\"_939d2d24-dd96-4d13-9bf3-a2dc13dfe3de\"><tr><td class=\"t m0 x21a h29 y6113 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y6114 w97d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y6114 w97e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y6114 w97f h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y6114 w980 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y6115 ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y6117 ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa6 y5a16 w8b6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">1<span class=\"_ _0\"></span>,358<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa7 y5a16 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(35)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa8 y5a16 w1f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa9 y5a16 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aaa y5a16 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d9 y5a16 w6d1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aab y5a16 w39f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w982 h290\" id=\"_f55353ff-902f-490a-96eb-388a8bb991f1\"><tr><td class=\"t m0 x21a ha y6119 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y611a w983 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y611a w984 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y611a w985 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y611a w986 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y611b ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y611c ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y611c ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y611d ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aaf y5a16 w71b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab0 y5a16 w987 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>41<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab1 y5a16 w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab2 y5a16 w167 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab3 y5a16 w1ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e9 y5a16 w2db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab4 y5a16 w212 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n calcula<span class=\"_ _0\"></span>ting the define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t obligation re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of consolidated financial position.<span class=\"_ _3bd\"> </span>G1.2 PGL P<span class=\"_ _2\"></span>ension Scheme<span class=\"_ _3bd\"> </span>In Jan<span class=\"_ _0\"></span>uary 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the trus<span class=\"_ _0\"></span>tees of the PG<span class=\"_ _0\"></span>L P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sc<span class=\"_ _0\"></span>heme co<span class=\"_ _0\"></span>mpleted the b<span class=\"_ _0\"></span>uy-ou<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e liabilities wit<span class=\"_ _0\"></span>h PLL whereby the ex<span class=\"_ _0\"></span>isting ann<span class=\"_ _0\"></span>uity insur<span class=\"_ _0\"></span>ance polic<span class=\"_ _0\"></span>ies were excha<span class=\"_ _0\"></span>nged for in<span class=\"_ _0\"></span>dividual po<span class=\"_ _0\"></span>licies bet<span class=\"_ _0\"></span>ween PLL an<span class=\"_ _0\"></span>d the sch<span class=\"_ _0\"></span>eme\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s. As a res<span class=\"_ _0\"></span>ult, all the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s obli<span class=\"_ _0\"></span>gations und<span class=\"_ _0\"></span>er the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me have now be<span class=\"_ _0\"></span>en fully ex<span class=\"_ _0\"></span>tinguis<span class=\"_ _0\"></span>hed. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils are include<span class=\"_ _0\"></span>d in the se<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.1 Sch<span class=\"_ _0\"></span>eme det<span class=\"_ _0\"></span>ails<span class=\"_ _3bd\"> </span>Defined<span class=\"_ _2\"></span> contributi<span class=\"_ _2\"></span>on scheme<span class=\"_ _3bd\"> </span>On 1 Jul<span class=\"_ _0\"></span>y 2020 the Gro<span class=\"_ _0\"></span>up close<span class=\"_ _0\"></span>d the defined c<span class=\"_ _0\"></span>ontribution s<span class=\"_ _0\"></span>ectio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e PGL Sc<span class=\"_ _0\"></span>heme an<span class=\"_ _0\"></span>d cease<span class=\"_ _0\"></span>d making c<span class=\"_ _0\"></span>ontribution<span class=\"_ _0\"></span>s from this date. Defined benefit<span class=\"_ _2\"></span> sc<span class=\"_ _0\"></span>heme<span class=\"_ _3bd\"> </span>The defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit sec<span class=\"_ _0\"></span>tion of the PGL Pen<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme was<span class=\"_ _0\"></span>, prior to the c<span class=\"_ _0\"></span>ompletion of the b<span class=\"_ _0\"></span>uy-ou<span class=\"_ _0\"></span>t, a final s<span class=\"_ _0\"></span>alary a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ment which wa<span class=\"_ _0\"></span>s close<span class=\"_ _0\"></span>d to<span class=\"_ gs47\"> </span>new entr<span class=\"_ _0\"></span>ants and h<span class=\"_ _0\"></span>ad no ac<span class=\"_ _0\"></span>tive membe<span class=\"_ _0\"></span>rs. Th<span class=\"_ _0\"></span>e Schem<span class=\"_ _0\"></span>e is adminis<span class=\"_ _0\"></span>tered by a sep<span class=\"_ _0\"></span>arate trus<span class=\"_ _0\"></span>tee compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y, PGL Pen<span class=\"_ _0\"></span>sion T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee Ltd. The t<span class=\"_ _0\"></span>rustee comp<span class=\"_ _0\"></span>any is compris<span class=\"_ _0\"></span>ed of two re<span class=\"_ _0\"></span>present<span class=\"_ _0\"></span>atives from the Gro<span class=\"_ _0\"></span>up, three me<span class=\"_ _0\"></span>mber nom<span class=\"_ _0\"></span>inated repre<span class=\"_ _0\"></span>sentative<span class=\"_ _0\"></span>s and one ind<span class=\"_ _0\"></span>epende<span class=\"_ _0\"></span>nt truste<span class=\"_ _0\"></span>e in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any\u2019<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>ticles of a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ation. The t<span class=\"_ _0\"></span>rustee i<span class=\"_ _0\"></span>s required by law to a<span class=\"_ _0\"></span>ct in the interes<span class=\"_ _0\"></span>t of all relevant be<span class=\"_ _0\"></span>neficiarie<span class=\"_ _0\"></span>s and was res<span class=\"_ _0\"></span>ponsible fo<span class=\"_ _0\"></span>r the day-to-d<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>dministra<span class=\"_ _0\"></span>tion of the ben<span class=\"_ _0\"></span>efits. A trienn<span class=\"_ _0\"></span>ial funding va<span class=\"_ _0\"></span>luation of the PG<span class=\"_ _0\"></span>L Pension S<span class=\"_ _0\"></span>cheme as at 3<span class=\"_ _0\"></span>0 June 20<span class=\"_ _0\"></span>21 was comp<span class=\"_ _0\"></span>leted in 2022 by a qu<span class=\"_ _0\"></span>alified ac<span class=\"_ _0\"></span>tuar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Thi<span class=\"_ _0\"></span>s showed a surp<span class=\"_ _0\"></span>lus as<span class=\"_ gs47\"> </span>at 3<span class=\"_ _0\"></span>0 June 2021 of \u00a3<span class=\"_ _0\"></span>2 million. Durin<span class=\"_ _0\"></span>g the perio<span class=\"_ _0\"></span>d, the tru<span class=\"_ _0\"></span>stees of the P<span class=\"_ _0\"></span>GL Pension S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e complete<span class=\"_ _0\"></span>d the buy-<span class=\"_ _0\"></span>out of the sch<span class=\"_ _0\"></span>eme liabilitie<span class=\"_ _0\"></span>s with PLL where<span class=\"_ _0\"></span>by the existin<span class=\"_ _0\"></span>g annuit<span class=\"_ _0\"></span>y insur<span class=\"_ _0\"></span>ance polic<span class=\"_ _0\"></span>ies bet<span class=\"_ _0\"></span>ween the t<span class=\"_ _0\"></span>wo par<span class=\"_ _0\"></span>ties were exc<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>d for individual p<span class=\"_ _0\"></span>olicies b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n PLL and the sc<span class=\"_ _0\"></span>heme\u2019s memb<span class=\"_ _0\"></span>ers. A<span class=\"_ _0\"></span>s a result, a<span class=\"_ _0\"></span>ll the Group\u2019s obliga<span class=\"_ _0\"></span>tions under th<span class=\"_ _0\"></span>e pensio<span class=\"_ _0\"></span>n schem<span class=\"_ _0\"></span>e have now bee<span class=\"_ _0\"></span>n fully extin<span class=\"_ _0\"></span>guishe<span class=\"_ _0\"></span>d and the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n as at the set<span class=\"_ _0\"></span>tleme<span class=\"_ _0\"></span>nt date of \u00a31<span class=\"_ _0\"></span>,097 million<span class=\"_ _0\"></span>, reimbur<span class=\"_ _0\"></span>sement ri<span class=\"_ _0\"></span>ght asse<span class=\"_ _0\"></span>ts of \u00a311 million an<span class=\"_ _0\"></span>d reimburs<span class=\"_ _0\"></span>ement right li<span class=\"_ _0\"></span>abilities of \u00a345 million were de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nised. An addi<span class=\"_ _0\"></span>tional premi<span class=\"_ _0\"></span>um (in excess of the v<span class=\"_ _0\"></span>alue of the collate<span class=\"_ _0\"></span>ral ass<span class=\"_ _0\"></span>ets tran<span class=\"_ _0\"></span>sferred as p<span class=\"_ _0\"></span>remium for the orig<span class=\"_ _0\"></span>inal buy<span class=\"_ _0\"></span>-in transac<span class=\"_ _0\"></span>tions) of \u00a31<span class=\"_ _0\"></span>8 million was prepa<span class=\"_ _0\"></span>id by the Sch<span class=\"_ _0\"></span>eme to PLL in 2023 an<span class=\"_ _0\"></span>d has be<span class=\"_ _0\"></span>en reco<span class=\"_ _0\"></span>gnised up<span class=\"_ _0\"></span>on complet<span class=\"_ _0\"></span>ion of the set<span class=\"_ _0\"></span>tlement<span class=\"_ _0\"></span>. The dif<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rence be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n the defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation and as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d reimburs<span class=\"_ _0\"></span>ement rig<span class=\"_ _0\"></span>hts at this date an<span class=\"_ _0\"></span>d the total prem<span class=\"_ _0\"></span>ium paid resulte<span class=\"_ _0\"></span>d in a loss on s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of \u00a320<span class=\"_ _0\"></span>8 million being rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>tration exp<span class=\"_ _0\"></span>enses in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment. Thi<span class=\"_ _0\"></span>s loss refle<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent basis for the liab<span class=\"_ _0\"></span>ilities as pres<span class=\"_ _0\"></span>cribe<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y IA<span class=\"_ _0\"></span>S 19 and th<span class=\"_ _0\"></span>e value pres<span class=\"_ _0\"></span>cribed for th<span class=\"_ _0\"></span>e buy-o<span class=\"_ _0\"></span>ut transfe<span class=\"_ _0\"></span>r in the origina<span class=\"_ _0\"></span>l buy-in agre<span class=\"_ _0\"></span>ement wh<span class=\"_ _0\"></span>ich is primaril<span class=\"_ _0\"></span>y based on coll<span class=\"_ _0\"></span>ateral determ<span class=\"_ _0\"></span>ined using th<span class=\"_ _0\"></span>e best e<span class=\"_ _0\"></span>stimate as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f PLL a<span class=\"_ _0\"></span>nd the risk ma<span class=\"_ _0\"></span>rgin asso<span class=\"_ _0\"></span>ciated with t<span class=\"_ _0\"></span>hose liabilit<span class=\"_ _0\"></span>ies on a Solve<span class=\"_ _0\"></span>ncy II b<span class=\"_ _0\"></span>asis. O<span class=\"_ _0\"></span>n comp<span class=\"_ _0\"></span>letion of the buy<span class=\"_ _0\"></span>-out<span class=\"_ _0\"></span>, the Sch<span class=\"_ _0\"></span>eme held m<span class=\"_ _0\"></span>inimal residu<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s which were us<span class=\"_ _0\"></span>ed during th<span class=\"_ _0\"></span>e period to c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r wind-up exp<span class=\"_ _0\"></span>enses<span class=\"_ _0\"></span>. Furthe<span class=\"_ _0\"></span>r details of the full imp<span class=\"_ _0\"></span>act of the bu<span class=\"_ _0\"></span>y-out tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion are inclu<span class=\"_ _0\"></span>ded in note B1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Insurance policies<span class=\"_ _2\"></span> with Group enti<span class=\"_ _2\"></span>ties and reinsurance<span class=\"_ _2\"></span> arrangements<span class=\"_ _3bd\"> </span>Prior to co<span class=\"_ _0\"></span>mpletion of the b<span class=\"_ _0\"></span>uy-out<span class=\"_ _0\"></span>, the PGL Pen<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme com<span class=\"_ _0\"></span>pleted t<span class=\"_ _0\"></span>wo buy-in tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ions. Th<span class=\"_ _0\"></span>e plan as<span class=\"_ _0\"></span>sets tran<span class=\"_ _0\"></span>sferred to PLL a<span class=\"_ _0\"></span>s premium were he<span class=\"_ _0\"></span>ld in a collatera<span class=\"_ _0\"></span>l account a<span class=\"_ _0\"></span>nd reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e relevant line with<span class=\"_ _0\"></span>in financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial po<span class=\"_ _0\"></span>sition. Th<span class=\"_ _0\"></span>e ec<span class=\"_ _0\"></span>onomic ef<span class=\"_ _0\"></span>fect of thes<span class=\"_ _0\"></span>e trans<span class=\"_ _0\"></span>actions in t<span class=\"_ _0\"></span>he Sche<span class=\"_ _0\"></span>me was to repla<span class=\"_ _0\"></span>ce the plan a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s transfe<span class=\"_ _0\"></span>rred with a sing<span class=\"_ _0\"></span>le line insura<span class=\"_ _0\"></span>nce polic<span class=\"_ _0\"></span>y reimburs<span class=\"_ _0\"></span>ement as<span class=\"_ _0\"></span>set which was e<span class=\"_ _0\"></span>liminated on c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>tion along with t<span class=\"_ _0\"></span>he relevant ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract lia<span class=\"_ _0\"></span>bilities in PLL. Th<span class=\"_ _0\"></span>e value of the ins<span class=\"_ _0\"></span>urance po<span class=\"_ _0\"></span>licies with Group e<span class=\"_ _0\"></span>ntities at 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 is \u00a3nil (2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>,093 m<span class=\"_ _0\"></span>illion)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g 2023, \u00a3<span class=\"_ _0\"></span>18 million of s<span class=\"_ _0\"></span>cheme as<span class=\"_ _0\"></span>sets we<span class=\"_ _0\"></span>re transfer<span class=\"_ _0\"></span>red to PLL as premi<span class=\"_ _0\"></span>um f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the buy-<span class=\"_ _0\"></span>out trans<span class=\"_ _0\"></span>action wh<span class=\"_ _0\"></span>ich comple<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in Januar<span class=\"_ _0\"></span>y 2024. At<span class=\"_ gs47\"> </span>31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, a de<span class=\"_ _0\"></span>btor of \u00a318 millio<span class=\"_ _0\"></span>n to reflect th<span class=\"_ _0\"></span>e prepayme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f thi<span class=\"_ _0\"></span>s premium was elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n. PLL entere<span class=\"_ _0\"></span>d into longevit<span class=\"_ _0\"></span>y swap a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments wit<span class=\"_ _0\"></span>h extern<span class=\"_ _0\"></span>al reinsurer<span class=\"_ _0\"></span>s to reinsure a prop<span class=\"_ _0\"></span>ortion of th<span class=\"_ _0\"></span>e risks trans<span class=\"_ _0\"></span>ferred as pa<span class=\"_ _0\"></span>rt of both th<span class=\"_ _0\"></span>e buy-in tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns. The f<span class=\"_ _0\"></span>air value of the reimb<span class=\"_ _0\"></span>ursem<span class=\"_ _0\"></span>ent right liabilitie<span class=\"_ _0\"></span>s amounted to \u00a3nil (31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023: \u00a3<span class=\"_ _0\"></span>34 million (res<span class=\"_ _0\"></span>tated)). Furth<span class=\"_ _0\"></span>er details of the res<span class=\"_ _0\"></span>tatement are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>ote A3.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs8a2\">G1.2<span class=\"_ _0\"></span>.2 Summary of amo<span class=\"_ _2\"></span>unts recognised<span class=\"_ _2\"></span> in the consol<span class=\"_ _2\"></span>idated financial<span class=\"_ _2\"></span> statements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8a3\">The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs8a4\"><table class=\"s w988 h291\" id=\"_bffcc74f-f71d-41cf-9e08-40b24e3e0f4e\"><tr><td></td><td class=\"t m0 x164f h29 y611f ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y611f ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x557 h29 y611f ff3 fs5 fc3 sc0 ls54 ws7f\">Pension<span class=\"_ _2\"></span> scheme </td><td class=\"t m0 x1a23 h29 y611f ff3 fs5 fc3 sc0 ls65 wsc0\">Reimburse<span class=\"_ _0\"></span>ment </td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6120 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6120 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x7a7 h29 y6120 ff3 fs5 fc3 sc0 ls65 wsc0\">liability </td><td class=\"t m0 x540 h29 y6120 ff3 fs5 fc3 sc0 ls4e ws48\">right<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y6121 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a69 w950 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab5 y5a69 w96 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab6 y5a69 w2f3 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab7 y5a69 w5e7 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab8 y5a69 we9 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6100 w952 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2a y5bf4 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2b y5bf4 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2c y5bf4 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2d y5bf4 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6122 w971 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>restated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab9 y6122 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aba y6122 w24d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abb y6122 w989 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>091<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abc y6122 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e38 w79 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y5e38 w37a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abe y5e38 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abf y5e38 w37a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac0 y5e38 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c5a w98a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent gain<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaa y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac1 y5c5a w3da h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac2 y5c5a w5e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac3 y5c5a w1f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5aca w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac4 y5aca w250 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac5 y5aca w5e3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac6 y5aca w80b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac7 y5aca w135 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac8 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac9 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aca y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acb y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs8a5\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.Re<span class=\"_ _0\"></span>imbur<span class=\"_ _0\"></span>sem<span class=\"_ _0\"></span>ent rig<span class=\"_ _0\"></span>ht ass<span class=\"_ _0\"></span>et \u00a311 m<span class=\"_ _0\"></span>illion a<span class=\"_ _0\"></span>nd reim<span class=\"_ _0\"></span>burs<span class=\"_ _0\"></span>ement r<span class=\"_ _0\"></span>ight<span class=\"_ _0\"></span>s liabil<span class=\"_ _0\"></span>ity \u00a3(4<span class=\"_ _0\"></span>5) mil<span class=\"_ _0\"></span>lion.<span class=\"_ _3bd\"> </span></div><div class=\"gs8a6\"><table class=\"s w98b h292\" id=\"_8eac15e9-e352-4ec3-9b7b-8342edd828a8\"><tr><td></td><td class=\"t m0 xac4 ha y6123 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> of </td><td class=\"t m0 x57d ha y6123 ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td class=\"t m0 x53f ha y6123 ff2 fs5 fc3 sc0 ls4d wsbf\">Pension<span class=\"_ _2\"></span> scheme </td><td class=\"t m0 x9cd ha y6123 ff2 fs5 fc3 sc0 ls21 ws23\">Reimbur<span class=\"_ _0\"></span>sement </td></tr><tr><td></td><td class=\"t m0 xac1 ha y6124 ff2 fs5 fc3 sc0 ls10c ws10d\">scheme assets<span class=\"_ _2\"></span> </td><td class=\"t m0 xa78 ha y6124 ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x5c1 ha y6124 ff2 fs5 fc3 sc0 ls21 ws23\">liabilit<span class=\"_ _0\"></span>y </td><td class=\"t m0 xdaf ha y6124 ff2 fs5 fc3 sc0 ls36 ws33\">right<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y6125 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a61 w950 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6f y5a61 w98c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acc y5a61 w313 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>83)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acd y5a61 w98d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">(1,056)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ace y5a61 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6126 w952 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c8 y6126 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a73 y6126 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a74 y6126 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a75 y6126 w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6127 w971 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>restated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acf y6127 wf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad0 y6127 w43a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>08<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad1 y6127 w98e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">(1,056)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad2 y6127 w23e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a64 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y5a64 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad3 y5a64 w98f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad4 y5a64 w979 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad5 y5a64 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6128 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad6 y6128 w990 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad7 y6128 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad8 y6128 w5b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b8 y6128 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6129 w976 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad9 y6129 w518 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ada y6129 w98f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(52<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1adb y6129 wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1adc y6129 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y612a ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y612b w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3a y612b w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1add y612b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ade y612b wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1adf y612b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y612c w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y612c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a89 y612c w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e8 y612c w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae0 y612c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd6 w978 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8d y5bd6 w991 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae1 y5bd6 w6c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae2 y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb2 w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae3 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae4 y5bb2 w72f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae5 y5bb2 w72f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae6 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6122 w992 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent in valuation of reim<span class=\"_ _0\"></span>bursem<span class=\"_ _0\"></span>ent right as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae7 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae8 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae9 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1b y6122 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 w993 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws13\">Included in o<span class=\"_ _2\"></span>ther comprehensive i<span class=\"_ _2\"></span>ncom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aea y5c48 wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aeb y5c48 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aec y5c48 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aed y5c48 w1bc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w95f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rece<span class=\"_ _0\"></span>ived from insur<span class=\"_ _0\"></span>ance poli<span class=\"_ _0\"></span>cies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aee y5a45 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aef y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x525 y5a45 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af0 y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5a46 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af2 y5a46 w1f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af3 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af4 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w994 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>sets tra<span class=\"_ _0\"></span>nsferred a<span class=\"_ _0\"></span>s premium for sc<span class=\"_ _0\"></span>heme bu<span class=\"_ _0\"></span>y-out<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af5 y5a47 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af6 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af7 y5a47 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af8 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w995 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">At 3<span class=\"_ _2\"></span>1 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa82 y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af9 y5a16 w996 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x227 y5a16 w327 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afa y5a16 wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs8a7\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>. Reim<span class=\"_ _0\"></span>burs<span class=\"_ _0\"></span>ement r<span class=\"_ _0\"></span>ight<span class=\"_ _0\"></span>s asse<span class=\"_ _0\"></span>t \u00a312 mi<span class=\"_ _0\"></span>llion an<span class=\"_ _0\"></span>d reimb<span class=\"_ _0\"></span>urse<span class=\"_ _0\"></span>ment r<span class=\"_ _0\"></span>ight lia<span class=\"_ _0\"></span>bilit<span class=\"_ _0\"></span>y \u00a3(33<span class=\"_ _0\"></span>) milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs8a8\">G1<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>ets<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8a9\">The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs8aa\"><table class=\"s w541 h293\" id=\"_e4c52090-8c0e-4624-9e1e-06c2b5f76adf\"><tr><td></td><td></td><td class=\"c n xed4 y612d w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y612d w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y612e ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y612e ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y612f ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x1a5c ha y612f ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an a<span class=\"_ _0\"></span>ctive </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6130 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y6130 ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 ha y6130 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e ha y6130 ff2 fs5 fc3 sc0 ls9c ws97\">ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6131 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6131 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6131 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6131 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6132 w965 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x650 y6132 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afb y6132 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afc y6132 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8d y6132 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 w997 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Reported scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afd y6099 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa83 y6099 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afe y6099 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f8 y6099 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c34 w998 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Add: Ins<span class=\"_ _0\"></span>urance p<span class=\"_ _0\"></span>olicies elimin<span class=\"_ _0\"></span>ated on con<span class=\"_ _0\"></span>solidation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y5c34 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aff y5c34 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b00 y5c34 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,093<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b01 y5c34 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,093<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b43 w946 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts due from sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y eliminated on c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b02 y5b43 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b03 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b04 y5b43 w390 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b05 y5b43 w390 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w999 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic value of<span class=\"_ _2\"></span> as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b06 y5b4c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b07 y5b4c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b08 y5b4c w99a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">1<span class=\"_ _1\"></span>,1<span class=\"_ _0\"></span>17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b09 y5b4c w99b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,111<span class=\"_ _3bd\"> </span></div></td></tr></table></div>G1.<span class=\"_ _0\"></span>2.4 Defined benefit<span class=\"_ _2\"></span> obligation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: nil% (20<span class=\"_ _0\"></span>23: 36<span class=\"_ _0\"></span>%); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> nil% (<span class=\"_ _2\"></span>2023: 64%<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></span>The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>23 was 13.<span class=\"_ _0\"></span>5 years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Principal assumptions<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal as<span class=\"_ _0\"></span>sumptions of th<span class=\"_ _0\"></span>e PGL Pension S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e as at 31 De<span class=\"_ _0\"></span>cember 2<span class=\"_ _0\"></span>023 are set out b<span class=\"_ _0\"></span>elow.<span class=\"_ _3bd\"> </span><table class=\"s w99c h294\" id=\"_4d2e82c5-1bfa-49d4-b709-d5e4dd6d6fcd\"><tr><td></td><td class=\"t m0 x1ce h29 y6133 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"t m0 x1cd ha y6133 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x56c h29 y6134 ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x56d ha y6134 ff2 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae5 w99d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (7<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>5% per annum o<span class=\"_ _0\"></span>r RPI if lower)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0a y5ae5 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1398 y5ae5 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w99f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns (\u2018CPI<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c5 y5b29 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0b y5b29 w9a0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 w9a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0c y5ae6 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0d y5ae6 w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w9a2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0e y5a15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0f y5a15 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70c y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x129f y5a16 w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table>The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yie<span class=\"_ _0\"></span>ld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span> of the PG<span class=\"_ _0\"></span>L P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sc<span class=\"_ _0\"></span>heme\u2019s liabilities<span class=\"_ _0\"></span>. This meth<span class=\"_ _0\"></span>od determin<span class=\"_ _0\"></span>es an equiva<span class=\"_ _0\"></span>lent single r<span class=\"_ _0\"></span>ate for each of the dis<span class=\"_ _0\"></span>count and infl<span class=\"_ _0\"></span>ation rates<span class=\"_ _0\"></span>, which is<span class=\"_ _3bd\"> </span> derive<span class=\"_ _0\"></span>d from the profile of pro<span class=\"_ _0\"></span>jecte<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ayments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with 8<span class=\"_ _0\"></span>6%/94% of S<span class=\"_ _0\"></span>1P Light bas<span class=\"_ _0\"></span>e tables for m<span class=\"_ _0\"></span>ales and fem<span class=\"_ _0\"></span>ales<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span> in 2023 were f<span class=\"_ _0\"></span>rom 1 Januar<span class=\"_ _0\"></span>y 2021 b<span class=\"_ _0\"></span>ased on am<span class=\"_ _0\"></span>ende<span class=\"_ _0\"></span>d CMI 202<span class=\"_ _0\"></span>2 Core Proje<span class=\"_ _0\"></span>ctions w<span class=\"_ _0\"></span>ith a long-term r<span class=\"_ _0\"></span>ate of improvement of 1<span class=\"_ _0\"></span>.5% per an<span class=\"_ _0\"></span>num for<span class=\"_ _3bd\"> </span> male<span class=\"_ _0\"></span>s and 1.<span class=\"_ _0\"></span>2% pe<span class=\"_ _0\"></span>r annum for female<span class=\"_ _0\"></span>s. Und<span class=\"_ _0\"></span>er these a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>ns, the aver<span class=\"_ _0\"></span>age life expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy from retirem<span class=\"_ _0\"></span>ent for a memb<span class=\"_ _0\"></span>er currently a<span class=\"_ _0\"></span>ged 4<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span> retiring at a<span class=\"_ _0\"></span>ge 62 was 27.4 years an<span class=\"_ _0\"></span>d 28.<span class=\"_ _0\"></span>8 years for ma<span class=\"_ _0\"></span>le and female m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s respe<span class=\"_ _0\"></span>ctively.<span class=\"_ _3bd\"> </span>A quantit<span class=\"_ _0\"></span>ative sensi<span class=\"_ _0\"></span>tivity a<span class=\"_ _0\"></span>nalysis for sig<span class=\"_ _0\"></span>nificant ac<span class=\"_ _0\"></span>tuarial a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>ns as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023 is shown b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span><table class=\"s w982 h295\" id=\"_90bd9a0d-1977-4383-b008-7dc43387d46f\"><tr><td class=\"t m0 x21a ha y6135 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y6136 w983 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6136 w984 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6136 w985 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6136 w986 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y6137 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y6138 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y6138 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y6139 ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aaf y5b4c w2b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b10 y5b4c w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b11 y5b4c wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b12 y5b4c w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b13 y5b4c w23e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b14 y5b4c w9a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x470 y5b4c w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to<span class=\"_ _3bd\"> </span> occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant<span class=\"_ _3bd\"> </span> ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n calcula<span class=\"_ _0\"></span>ting the define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t obligation re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of<span class=\"_ _3bd\"> </span> consolidated financial position.<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.3 Abb<span class=\"_ _0\"></span>ey Life Staf<span class=\"_ _0\"></span>f Pensi<span class=\"_ _0\"></span>on Sch<span class=\"_ _0\"></span>eme<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e deta<span class=\"_ _0\"></span>ils<span class=\"_ _3bd\"> </span>The Ab<span class=\"_ _0\"></span>bey Life Sche<span class=\"_ _0\"></span>me is a regi<span class=\"_ _0\"></span>stered o<span class=\"_ _0\"></span>ccupation<span class=\"_ _0\"></span>al pensi<span class=\"_ _0\"></span>on schem<span class=\"_ _0\"></span>e, set up unde<span class=\"_ _0\"></span>r trust<span class=\"_ _0\"></span>, and leg<span class=\"_ _0\"></span>ally sepa<span class=\"_ _0\"></span>rate from its pr<span class=\"_ _0\"></span>incipal emp<span class=\"_ _0\"></span>loyer PeLHL.<span class=\"_ _3bd\"> </span> The s<span class=\"_ _0\"></span>cheme is a<span class=\"_ _0\"></span>dministere<span class=\"_ _0\"></span>d by Abbey Life T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust Se<span class=\"_ _0\"></span>curities Lim<span class=\"_ _0\"></span>ited (the trus<span class=\"_ _0\"></span>tee), a corpor<span class=\"_ _0\"></span>ate truste<span class=\"_ _0\"></span>e. There are th<span class=\"_ _0\"></span>ree trus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e director<span class=\"_ _0\"></span>s, on<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f wh<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span> is nomin<span class=\"_ _0\"></span>ated by the Abb<span class=\"_ _0\"></span>ey Life Sche<span class=\"_ _0\"></span>me memb<span class=\"_ _0\"></span>ers and t<span class=\"_ _0\"></span>wo of whom are ap<span class=\"_ _0\"></span>pointed by PeLHL<span class=\"_ _0\"></span>. The trus<span class=\"_ _0\"></span>tee is resp<span class=\"_ _0\"></span>onsible for a<span class=\"_ _0\"></span>dministerin<span class=\"_ _0\"></span>g the<span class=\"_ _3bd\"> </span> sch<span class=\"_ _0\"></span>eme in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the trus<span class=\"_ _0\"></span>t deed an<span class=\"_ _0\"></span>d rules an<span class=\"_ _0\"></span>d pension<span class=\"_ _0\"></span>s laws and re<span class=\"_ _0\"></span>gulations<span class=\"_ _0\"></span>. The Abb<span class=\"_ _0\"></span>ey Life Schem<span class=\"_ _0\"></span>e is close<span class=\"_ _0\"></span>d to new entrant<span class=\"_ _0\"></span>s and has<span class=\"_ _3bd\"> </span> no ac<span class=\"_ _0\"></span>tive memb<span class=\"_ _0\"></span>ers.<span class=\"_ _3bd\"> </span>The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the Abbe<span class=\"_ _0\"></span>y Li<span class=\"_ _2\"></span>fe S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 unde<span class=\"_ _0\"></span>rtaken by ind<span class=\"_ _0\"></span>epende<span class=\"_ _0\"></span>nt<span class=\"_ _3bd\"> </span> qualifie<span class=\"_ _0\"></span>d actu<span class=\"_ _0\"></span>aries. T<span class=\"_ _0\"></span>he prese<span class=\"_ _0\"></span>nt values of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n and the relate<span class=\"_ _0\"></span>d interest c<span class=\"_ _0\"></span>osts h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een me<span class=\"_ _0\"></span>asured usin<span class=\"_ _0\"></span>g the proj<span class=\"_ _0\"></span>ected uni<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span> credi<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Funding<span class=\"_ _3bd\"> </span>The la<span class=\"_ _0\"></span>st fundin<span class=\"_ _0\"></span>g valuation of the Ab<span class=\"_ _0\"></span>bey Life Sch<span class=\"_ _0\"></span>eme was c<span class=\"_ _0\"></span>arried out by a q<span class=\"_ _0\"></span>ualified ac<span class=\"_ _0\"></span>tuar<span class=\"_ _0\"></span>y as at 31 Marc<span class=\"_ _0\"></span>h 2021 and s<span class=\"_ _0\"></span>howed a deficit of \u00a3<span class=\"_ _0\"></span>86 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> The f<span class=\"_ _0\"></span>unding valuati<span class=\"_ _0\"></span>on as at 31 Marc<span class=\"_ _0\"></span>h 202<span class=\"_ _2\"></span>4 was in p<span class=\"_ _0\"></span>rogres<span class=\"_ _0\"></span>s as at the end of th<span class=\"_ _0\"></span>e y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar and will be fin<span class=\"_ _0\"></span>alised dur<span class=\"_ _0\"></span>ing 2025. Fo<span class=\"_ _0\"></span>llowing comp<span class=\"_ _0\"></span>letion of the<span class=\"_ _3bd\"> </span> fundin<span class=\"_ _0\"></span>g valuation a re<span class=\"_ _0\"></span>covery p<span class=\"_ _0\"></span>lan was agre<span class=\"_ _0\"></span>ed bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he Group and th<span class=\"_ _0\"></span>e truste<span class=\"_ _0\"></span>e of the Abbey Life S<span class=\"_ _0\"></span>cheme for PeLH<span class=\"_ _0\"></span>L to pay monthly<span class=\"_ _3bd\"> </span> contrib<span class=\"_ _0\"></span>utions of \u00a3400<span class=\"_ _0\"></span>,00<span class=\"_ _0\"></span>0 into the Sch<span class=\"_ _0\"></span>eme until 31 July 2<span class=\"_ _0\"></span>025 to eliminate th<span class=\"_ _0\"></span>e funding sh<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>fall. In ad<span class=\"_ _0\"></span>dition, th<span class=\"_ _0\"></span>e entire balan<span class=\"_ _0\"></span>ce of the 2013 Ch<span class=\"_ _0\"></span>arged<span class=\"_ _3bd\"> </span> Acc<span class=\"_ _0\"></span>ount of \u00a3<span class=\"_ _2\"></span>42 million wa<span class=\"_ _0\"></span>s paid to the S<span class=\"_ _0\"></span>cheme in D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2021<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A new s<span class=\"_ _0\"></span>chedule of co<span class=\"_ _0\"></span>ntributions w<span class=\"_ _0\"></span>as agree<span class=\"_ _0\"></span>d effec<span class=\"_ _0\"></span>tive from Novemb<span class=\"_ _0\"></span>er 2021<span class=\"_ _0\"></span>, for PeLHL to pay th<span class=\"_ _0\"></span>e f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>llowing amount<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of deficit<span class=\"_ _3bd\"> </span> contrib<span class=\"_ _0\"></span>utions in ad<span class=\"_ _0\"></span>dition to the amo<span class=\"_ _0\"></span>unts payable un<span class=\"_ _0\"></span>der the rec<span class=\"_ _0\"></span>overy pl<span class=\"_ _0\"></span>an:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>fixe<span class=\"_ _0\"></span>d monthly co<span class=\"_ _0\"></span>ntributions of \u00a340<span class=\"_ _0\"></span>0,00<span class=\"_ _0\"></span>0 payable fro<span class=\"_ _0\"></span>m 1 August 2<span class=\"_ _0\"></span>025 to 30 Jun<span class=\"_ _0\"></span>e 2026;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>mo<span class=\"_ _0\"></span>nthly contribu<span class=\"_ _0\"></span>tions in resp<span class=\"_ _0\"></span>ect of admini<span class=\"_ _0\"></span>stration ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s of \u00a310<span class=\"_ _0\"></span>6,<span class=\"_ _0\"></span>295 p<span class=\"_ _0\"></span>ayable up to 31 Marc<span class=\"_ _0\"></span>h 2022, the<span class=\"_ _0\"></span>n increasin<span class=\"_ _0\"></span>g annually in lin<span class=\"_ _0\"></span>e with the<span class=\"_ _3bd\"> </span> Retail Pr<span class=\"_ _0\"></span>ices Inde<span class=\"_ _0\"></span>x assumptio<span class=\"_ _0\"></span>n to 30 June 20<span class=\"_ _0\"></span>28; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ann<span class=\"_ _0\"></span>ual payment<span class=\"_ _0\"></span>s of \u00a3<span class=\"_ _2\"></span>4 million into th<span class=\"_ _0\"></span>e New 201<span class=\"_ _0\"></span>6 Charge<span class=\"_ _0\"></span>d Account by 31 J<span class=\"_ _0\"></span>uly each yea<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, with the l<span class=\"_ _0\"></span>ast payme<span class=\"_ _0\"></span>nt due by 31 July 20<span class=\"_ _0\"></span>25.<span class=\"_ _3bd\"> </span>The ch<span class=\"_ _0\"></span>arged a<span class=\"_ _0\"></span>ccount is an E<span class=\"_ _0\"></span>scrow ac<span class=\"_ _0\"></span>count which wa<span class=\"_ _0\"></span>s created to provi<span class=\"_ _0\"></span>de the trus<span class=\"_ _0\"></span>tees with a<span class=\"_ _0\"></span>dditional s<span class=\"_ _0\"></span>ecurit<span class=\"_ _0\"></span>y in light of the fun<span class=\"_ _0\"></span>ding deficit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> The<span class=\"_ gs47\"> </span>am<span class=\"_ _0\"></span>ounts he<span class=\"_ _0\"></span>ld in the charg<span class=\"_ _0\"></span>ed acc<span class=\"_ _0\"></span>ount does n<span class=\"_ _0\"></span>ot form par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f Ab<span class=\"_ _0\"></span>bey Life Sche<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>ets.<span class=\"_ _3bd\"> </span>Unde<span class=\"_ _0\"></span>r the terms of the N<span class=\"_ _0\"></span>ew 2016 Fun<span class=\"_ _0\"></span>ding Agreem<span class=\"_ _0\"></span>ent the fun<span class=\"_ _0\"></span>ding positio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Abbey Life Sc<span class=\"_ _0\"></span>heme will be a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sed a<span class=\"_ _0\"></span>s at 31 March 2027<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span> A<span class=\"_ gs47\"> </span>payme<span class=\"_ _0\"></span>nt will be made f<span class=\"_ _0\"></span>rom the New 20<span class=\"_ _0\"></span>16 Charg<span class=\"_ _0\"></span>ed Acco<span class=\"_ _0\"></span>unt to the Sch<span class=\"_ _0\"></span>eme if the res<span class=\"_ _0\"></span>ults of the as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ment reveal a sh<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>fall cal<span class=\"_ _0\"></span>culated in<span class=\"_ _3bd\"> </span> acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the terms of the N<span class=\"_ _0\"></span>ew 201<span class=\"_ _0\"></span>6 F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ding Agree<span class=\"_ _0\"></span>ment. Th<span class=\"_ _0\"></span>e amount of the paym<span class=\"_ _0\"></span>ent will be the lowe<span class=\"_ _0\"></span>r of the amount of the s<span class=\"_ _0\"></span>hort<span class=\"_ _0\"></span>fall and th<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span> amo<span class=\"_ _0\"></span>unt held in the N<span class=\"_ _0\"></span>ew 2016 Ch<span class=\"_ _0\"></span>arged Ac<span class=\"_ _0\"></span>count.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs8ac\">G1.3<span class=\"_ _0\"></span>.2 Summary of<span class=\"_ _2\"></span> amounts recogni<span class=\"_ _2\"></span>sed in the<span class=\"_ _2\"></span> consolidated fi<span class=\"_ _2\"></span>nancial statements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ad\">The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs8ae\"><table class=\"s w9a5 h296\" id=\"_9582b9a0-b25a-45a5-9d2b-257c3d6f01b4\"><tr><td></td><td></td><td></td><td class=\"t m0 x15d4 h29 y613b ff3 fs5 fc3 sc0 ls65 wsc0\">Minimum funding </td><td></td></tr><tr><td></td><td class=\"t m0 x164f h29 y613c ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y613c ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x5da h29 y613c ff3 fs5 fc3 sc0 lsbe wsbe\">requirement </td><td></td></tr><tr><td></td><td class=\"t m0 xae5 h29 y613d ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y613d ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x783 h29 y613d ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x540 h29 y613d ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a h29 y613e ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a0a w9a6 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b15 y5a0a w277 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b16 y5a0a w59f h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">(21<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b17 y5a0a w298 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b18 y5a0a w95a h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y601f w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y601f wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b19 y601f w95a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1a y601f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd76 y601f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e33 w9a7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administration expe<span class=\"_ _0\"></span>nses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad9 y5e33 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1b y5e33 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1c y5e33 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1d y5e33 wb5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d5f w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a80 y5d5f w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1e y5d5f w734 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a55 y5d5f w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1f y5d5f w9f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y613f ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c46 w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b20 y5c46 w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b21 y5c46 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b22 y5c46 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b23 y5c46 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5e36 w95b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y5e36 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b24 y5e36 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b25 y5e36 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b26 y5e36 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5e37 w9a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in minimum fun<span class=\"_ _0\"></span>ding require<span class=\"_ _0\"></span>ment oblig<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b27 y5e37 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b28 y5e37 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b29 y5e37 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2a y5e37 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2b y5afa w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2c y5afa w77 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2d y5afa w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2e y5afa w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c06 w9a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y5c06 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y5c06 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y5c06 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128f y5c06 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5c07 w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b32 y5c07 w204 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y5c07 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b33 y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b34 y5a16 w5cc h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls95 ws8e\">192<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b35 y5a16 w17e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>94)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b36 y5a16 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b37 y5a16 wb5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs8af\"><table class=\"s w9aa h297\" id=\"_7973464c-d2be-4cf8-a547-e7c4904bb3cc\"><tr><td></td><td></td><td></td><td class=\"t m0 x15d4 h29 y6140 ff3 fs5 fc3 sc0 ls65 wsc0\">Minimum funding </td><td></td></tr><tr><td></td><td class=\"t m0 x164f h29 y6141 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y6141 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x5da h29 y6141 ff3 fs5 fc3 sc0 lsbe wsbe\">requirement </td><td></td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6142 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6142 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x783 h29 y6142 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x540 h29 y6142 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a ha y6143 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6144 w9ab h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b38 y6144 w9ac h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b39 y6144 w1e8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>211<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3a y6144 w635 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3b y6144 w1e5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6145 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3c y6145 wcc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3d y6145 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3e y6145 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3f y6145 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6146 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y6146 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b40 y6146 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b41 y6146 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b42 y6146 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6147 w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a80 y6147 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b43 y6147 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b44 y6147 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b45 y6147 w298 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6148 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y6149 w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a84 y6149 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b46 y6149 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b47 y6149 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b48 y6149 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614a w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y614a w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3f y614a w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f7 y614a we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b49 y614a w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614b w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4a y614b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4b y614b w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4c y614b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4d y614b wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614c w9ad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in geo<span class=\"_ _0\"></span>graphic as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4e y614c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4f y614c w866 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4b y614c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b50 y614c w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614d w9a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in minimum fun<span class=\"_ _0\"></span>ding require<span class=\"_ _0\"></span>ment oblig<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b27 y614d we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b28 y614d w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b29 y614d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2a y614d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y614e w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a95 y614e wb3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b51 y614e w1e5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b52 y614e w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b53 y614e w2db h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y614f w9a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y614f w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y614f we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y614f we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128f y614f w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6150 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></td><td class=\"c n x1b54 y6151 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b55 y6151 wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b56 y6151 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b57 y6151 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ae h298\"><div class=\"t m0 x1cf hb y6152 ff1 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b58 y5a16 w265 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls85 ws88\">211<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b59 y5a16 w1e8 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>218<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a12 y5a16 w298 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5a y5a16 w734 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs8b0\">G1<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8b1\">The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs8b2\"><table class=\"s w9af h299\" id=\"_521eb361-6c0f-4ab2-9e19-ad277c79df89\"><tr><td></td><td class=\"c n xed4 y6153 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1a5b y6153 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6154 ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y6154 ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y6155 ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x1a5c ha y6155 ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an a<span class=\"_ _0\"></span>ctive </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6156 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y6156 ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 ha y6156 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e ha y6156 ff2 fs5 fc3 sc0 ls9c ws97\">ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6157 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6157 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6157 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6157 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6158 w4ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Diver<span class=\"_ _0\"></span>sified inc<span class=\"_ _0\"></span>ome fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5b y6158 w4d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5c y6158 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf54 y6158 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcb y6158 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6132 w9b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Fixe<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest gover<span class=\"_ _0\"></span>nment bon<span class=\"_ _0\"></span>ds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5d y6132 w2a7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1625 y6132 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x704 y6132 wfe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5e y6132 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 w9b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Corporate bonds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5f y6099 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">86<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b60 y6099 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x29a y6099 w521 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a4 y6099 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4a we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b61 y5b4a w9b2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(86)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b62 y5b4a w9b2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(86)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b63 y5b4a w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(85)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b64 y5b4a w1b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(85<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b65 y5b43 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5b43 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5b43 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b66 y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w9b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Pensi<span class=\"_ _2\"></span>on scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y5b4c w9b4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls95 ws8e\">192<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b67 y5b4c w4dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b68 y5b4c wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1c y5b4c w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(85)<span class=\"_ _3bd\"> </span></div></td></tr></table></div>G1.3<span class=\"_ _0\"></span>.4 Defined<span class=\"_ _2\"></span> benefit obligation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 3<span class=\"_ _0\"></span>5% (2023: 4<span class=\"_ _0\"></span>4%<span class=\"_ _2\"></span>)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 6<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% (2023:<span class=\"_ _2\"></span> 56<span class=\"_ _0\"></span>%<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></span>The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 11 year<span class=\"_ _0\"></span>s (2023: 13<span class=\"_ _0\"></span>.5 year<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Principal assumptions<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the Ab<span class=\"_ _0\"></span>bey Life Sch<span class=\"_ _0\"></span>eme are set o<span class=\"_ _0\"></span>ut in the table b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span><table class=\"s w9b5 h29a\" id=\"_10a23a41-49c6-4e27-bb5a-08556c4a04b7\"><tr><td></td><td class=\"t m0 x1ce h29 y6159 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"t m0 x1cd ha y6159 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x56c h29 y615a ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x56d ha y615a ff2 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60dd w9b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (5% per ann<span class=\"_ _0\"></span>um or RPI if lower)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b69 y60dd w9b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6a y60dd w9b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">2.<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60de w9b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns (\u2018CPI<span class=\"_ _0\"></span>\u2019 subj<span class=\"_ _0\"></span>ect to c<span class=\"_ _0\"></span>aps)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6b y60de w9ba h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6c y60de w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60df w9a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6d y60df w9bb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">5.55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6e y60df w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60c6 w9a2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6f y60c6 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b70 y60c6 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b71 y5b4c w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b72 y5b4c w9a0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></div></td></tr></table>The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yie<span class=\"_ _0\"></span>ld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation of the Abb<span class=\"_ _0\"></span>ey Life Schem<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s liabili<span class=\"_ _0\"></span>ties. Thi<span class=\"_ _0\"></span>s method de<span class=\"_ _0\"></span>termines an e<span class=\"_ _0\"></span>quivalent sin<span class=\"_ _0\"></span>gle rate for ea<span class=\"_ _0\"></span>ch of the disco<span class=\"_ _0\"></span>unt and inflation r<span class=\"_ _0\"></span>ates, whi<span class=\"_ _0\"></span>ch is derived from the p<span class=\"_ _0\"></span>rofile of projec<span class=\"_ _0\"></span>ted ben<span class=\"_ _0\"></span>efit payment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with a s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>-spec<span class=\"_ _0\"></span>ific table whi<span class=\"_ _0\"></span>ch was derive<span class=\"_ _0\"></span>d from the ac<span class=\"_ _0\"></span>tual mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y exper<span class=\"_ _0\"></span>ience in re<span class=\"_ _0\"></span>cent year<span class=\"_ _0\"></span>s, per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d as par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e actua<span class=\"_ _0\"></span>rial fundin<span class=\"_ _0\"></span>g valuation as at 31 M<span class=\"_ _0\"></span>arch 2024, usin<span class=\"_ _0\"></span>g the SAPS S<span class=\"_ _0\"></span>4 \u2018Light<span class=\"_ _0\"></span>\u2019 table<span class=\"_ _0\"></span>s for males an<span class=\"_ _0\"></span>d for females b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n year of use<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure longevi<span class=\"_ _0\"></span>ty improvem<span class=\"_ _0\"></span>ents from 1 J<span class=\"_ _0\"></span>anuar<span class=\"_ _0\"></span>y 202<span class=\"_ _2\"></span>4 are b<span class=\"_ _0\"></span>ased on a<span class=\"_ _0\"></span>mende<span class=\"_ _0\"></span>d CMI 202<span class=\"_ _0\"></span>3 Core Proje<span class=\"_ _0\"></span>ctions (2<span class=\"_ _0\"></span>023: From 1 Januar<span class=\"_ _0\"></span>y 2021 bas<span class=\"_ _0\"></span>ed on ame<span class=\"_ _0\"></span>nded CM<span class=\"_ _0\"></span>I 2021 C<span class=\"_ _0\"></span>ore Projec<span class=\"_ _0\"></span>tions) and a lon<span class=\"_ _0\"></span>g-term rate of improvem<span class=\"_ _0\"></span>ent of 1.6<span class=\"_ _0\"></span>% (2023: 1<span class=\"_ _0\"></span>.5%) per an<span class=\"_ _0\"></span>num for males a<span class=\"_ _0\"></span>nd 1.<span class=\"_ _0\"></span>2% (2023: 1.<span class=\"_ _0\"></span>2%) per an<span class=\"_ _0\"></span>num for female<span class=\"_ _0\"></span>s. Unde<span class=\"_ _0\"></span>r these as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s the average life ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>ancy from ret<span class=\"_ _0\"></span>irement for a me<span class=\"_ _0\"></span>mber curre<span class=\"_ _0\"></span>ntly age<span class=\"_ _0\"></span>d 45 retiring at a<span class=\"_ _0\"></span>ge 65 i<span class=\"_ _0\"></span>s 2<span class=\"_ _2\"></span>4.<span class=\"_ _0\"></span>6 years an<span class=\"_ _0\"></span>d 25.6 ye<span class=\"_ _0\"></span>ars for male an<span class=\"_ _0\"></span>d female me<span class=\"_ _0\"></span>mbers re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively (2023<span class=\"_ _0\"></span>: 2<span class=\"_ _2\"></span>4.<span class=\"_ _0\"></span>5 years an<span class=\"_ _0\"></span>d 25.<span class=\"_ _0\"></span>6 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span>A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span><table class=\"s w9bd h29b\" id=\"_c3f4f39d-0cfd-4a2a-a8a6-dd7d5a3653df\"><tr><td class=\"t m0 x21a h29 y615b ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y615c w97d h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y615c w97e h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y615c w97f h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y615c w980 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y615d ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y615f ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b73 y5b4c w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">194<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b74 y5b4c w2db h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b75 y5b4c wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b76 y5b4c wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b77 y5b4c w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b78 y5b4c wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1a y5b4c w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w9be h29c\" id=\"_062a6afe-02a8-49a9-8923-26763fc78107\"><tr><td class=\"t m0 x21a ha y6160 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y6161 w983 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6161 w984 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6161 w985 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6161 w986 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y6162 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y6163 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y6163 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y6164 ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5a16 wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7a y5a16 w9bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7b y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7c y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7d y5a16 w209 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7e y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7f y5a16 w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr></table>The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n<span class=\"_ gs47\"> </span>calcula<span class=\"_ _0\"></span>ting the pen<span class=\"_ _0\"></span>sion liabilit<span class=\"_ _0\"></span>y reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d within<span class=\"_ gs47\"> </span>the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated financial position.<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.4 ReAs<span class=\"_ _0\"></span>sure Life S<span class=\"_ _0\"></span>taff Pe<span class=\"_ _0\"></span>nsion S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.4.1 Sc<span class=\"_ _0\"></span>heme d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The ReA<span class=\"_ _0\"></span>ssure S<span class=\"_ _0\"></span>cheme is a re<span class=\"_ _0\"></span>gistere<span class=\"_ _0\"></span>d occ<span class=\"_ _0\"></span>upational p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme, s<span class=\"_ _0\"></span>et up under tru<span class=\"_ _0\"></span>st, and l<span class=\"_ _0\"></span>egally s<span class=\"_ _0\"></span>eparate from t<span class=\"_ _0\"></span>he employer ReA<span class=\"_ _0\"></span>ssure Mid<span class=\"_ _0\"></span>co Limited (<span class=\"_ _0\"></span>\u2018R<span class=\"_ _0\"></span>ML<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>). The sch<span class=\"_ _0\"></span>eme is admini<span class=\"_ _0\"></span>stered by ReA<span class=\"_ _0\"></span>ssure Pensi<span class=\"_ _0\"></span>on T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d, a corp<span class=\"_ _0\"></span>orate trus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e. There are s<span class=\"_ _0\"></span>ix truste<span class=\"_ _0\"></span>e director<span class=\"_ _0\"></span>s, t<span class=\"_ _0\"></span>wo of whom are nom<span class=\"_ _0\"></span>inated by the ReA<span class=\"_ _0\"></span>ssure S<span class=\"_ _0\"></span>cheme m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s and four of whom are a<span class=\"_ _0\"></span>ppointed by R<span class=\"_ _0\"></span>ML. The t<span class=\"_ _0\"></span>rustee i<span class=\"_ _0\"></span>s responsib<span class=\"_ _0\"></span>le for adminis<span class=\"_ _0\"></span>tering the sc<span class=\"_ _0\"></span>heme in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the trus<span class=\"_ _0\"></span>t deed a<span class=\"_ _0\"></span>nd rules an<span class=\"_ _0\"></span>d pension<span class=\"_ _0\"></span>s laws and re<span class=\"_ _0\"></span>gulations<span class=\"_ _0\"></span>. The ReA<span class=\"_ _0\"></span>ssure Sc<span class=\"_ _0\"></span>heme is cl<span class=\"_ _0\"></span>osed to new e<span class=\"_ _0\"></span>ntrants an<span class=\"_ _0\"></span>d to future acc<span class=\"_ _0\"></span>rual for ac<span class=\"_ _0\"></span>tive membe<span class=\"_ _0\"></span>rs.<span class=\"_ _3bd\"> </span>The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the ReAs<span class=\"_ _0\"></span>sure Sch<span class=\"_ _0\"></span>eme as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 under<span class=\"_ _0\"></span>taken by indep<span class=\"_ _0\"></span>endent qualifie<span class=\"_ _0\"></span>d actu<span class=\"_ _0\"></span>aries. T<span class=\"_ _0\"></span>he prese<span class=\"_ _0\"></span>nt values of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n and the relate<span class=\"_ _0\"></span>d interest c<span class=\"_ _0\"></span>osts h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een me<span class=\"_ _0\"></span>asured usin<span class=\"_ _0\"></span>g the proj<span class=\"_ _0\"></span>ected uni<span class=\"_ _0\"></span>t credi<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Funding<span class=\"_ _3bd\"> </span>The la<span class=\"_ _0\"></span>st fundin<span class=\"_ _0\"></span>g valuation of the Re<span class=\"_ _0\"></span>Assure S<span class=\"_ _0\"></span>cheme w<span class=\"_ _0\"></span>as carrie<span class=\"_ _0\"></span>d out by a qualifie<span class=\"_ _0\"></span>d actu<span class=\"_ _0\"></span>ary as at 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2020 a<span class=\"_ _0\"></span>nd showed a d<span class=\"_ _0\"></span>eficit of \u00a377 m<span class=\"_ _0\"></span>illion. The f<span class=\"_ _0\"></span>unding valuat<span class=\"_ _0\"></span>ion as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023 was in prog<span class=\"_ _0\"></span>ress as at t<span class=\"_ _0\"></span>he end of the year a<span class=\"_ _0\"></span>nd was finalis<span class=\"_ _0\"></span>ed in Febru<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>25.<span class=\"_ _3bd\"> </span>Following c<span class=\"_ _0\"></span>ompletion of th<span class=\"_ _0\"></span>e 2020 valuatio<span class=\"_ _0\"></span>n a recover<span class=\"_ _0\"></span>y plan was a<span class=\"_ _0\"></span>greed in S<span class=\"_ _0\"></span>eptembe<span class=\"_ _0\"></span>r 2021 bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e truste<span class=\"_ _0\"></span>e and RM<span class=\"_ _0\"></span>L in order to make goo<span class=\"_ _0\"></span>d the defic<span class=\"_ _0\"></span>it. RM<span class=\"_ _0\"></span>L agree<span class=\"_ _0\"></span>d to pay contribut<span class=\"_ _0\"></span>ions of \u00a317<span class=\"_ _2\"></span>.7 million into the e<span class=\"_ _0\"></span>xisting C<span class=\"_ _0\"></span>ustody Ac<span class=\"_ _0\"></span>count spre<span class=\"_ _0\"></span>ad over four annu<span class=\"_ _0\"></span>al payment<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f \u00a34.42<span class=\"_ _0\"></span>5 million payable o<span class=\"_ _0\"></span>n 1 April 2022, 1 A<span class=\"_ _0\"></span>pril 2023<span class=\"_ _0\"></span>, 1 April 2024 and 1 April 202<span class=\"_ _0\"></span>5. The 20<span class=\"_ _0\"></span>23 Recover<span class=\"_ _0\"></span>y plan<span class=\"_ _0\"></span>, agree<span class=\"_ _0\"></span>d in Februar<span class=\"_ _0\"></span>y 2025<span class=\"_ _0\"></span>, no long<span class=\"_ _0\"></span>er requires t<span class=\"_ _0\"></span>he payme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e remaining c<span class=\"_ _0\"></span>ontribution o<span class=\"_ _0\"></span>n 1 April 2025<span class=\"_ _0\"></span>. It is anticipate<span class=\"_ _0\"></span>d that \u00a326 m<span class=\"_ _0\"></span>illion will be paid fro<span class=\"_ _0\"></span>m the Custo<span class=\"_ _0\"></span>dy Acco<span class=\"_ _0\"></span>unt on or shor<span class=\"_ _0\"></span>tly afte<span class=\"_ _0\"></span>r 1 July 2<span class=\"_ _0\"></span>026 to remove any rema<span class=\"_ _0\"></span>ining deficit at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2025<span class=\"_ _0\"></span>. The am<span class=\"_ _0\"></span>ounts he<span class=\"_ _0\"></span>ld in this acc<span class=\"_ _0\"></span>ount do not form par<span class=\"_ _0\"></span>t of the S<span class=\"_ _0\"></span>cheme\u2019s plan as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d are instea<span class=\"_ _0\"></span>d held in the C<span class=\"_ _0\"></span>ustody Ac<span class=\"_ _0\"></span>count and a<span class=\"_ _0\"></span>re include<span class=\"_ _0\"></span>d within finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up agree<span class=\"_ _0\"></span>s to cover those e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s incurre<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y th<span class=\"_ _0\"></span>e ReAss<span class=\"_ _0\"></span>ure Sche<span class=\"_ _0\"></span>me and up to the en<span class=\"_ _0\"></span>d of 202<span class=\"_ _2\"></span>4 the c<span class=\"_ _0\"></span>ost of the de<span class=\"_ _0\"></span>ath-in-ser<span class=\"_ _0\"></span>vice b<span class=\"_ _0\"></span>enefits fo<span class=\"_ _0\"></span>r thos<span class=\"_ _0\"></span>e membe<span class=\"_ _0\"></span>rs of the sch<span class=\"_ _0\"></span>eme entitle<span class=\"_ _0\"></span>d to those b<span class=\"_ _0\"></span>enefits<span class=\"_ _0\"></span>. Payments of \u00a3<span class=\"_ _0\"></span>2 million (2023: \u00a3<span class=\"_ _0\"></span>2 million) have bee<span class=\"_ _0\"></span>n made durin<span class=\"_ _0\"></span>g the year to cover th<span class=\"_ _0\"></span>ese cos<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs8e3\">G1.4.<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span> Summar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> of amounts<span class=\"_ _2\"></span> recognised in<span class=\"_ _2\"></span> the consolidat<span class=\"_ _2\"></span>ed financial stat<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8e4\">The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs8ae\"><table class=\"s w9c0 h29d\" id=\"_4c91b927-9598-40bf-9089-b19f91dc5154\"><tr><td></td><td></td><td></td><td class=\"t m0 x1b80 h29 y6165 ff3 fs5 fc3 sc0 ls1 ws1\">Prov<span class=\"_ _0\"></span>isio<span class=\"_ _0\"></span>n for ta<span class=\"_ _0\"></span>x on </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xdb2 h29 y6166 ff3 fs5 fc3 sc0 ls1 ws1\">the e<span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>omic </td><td></td></tr><tr><td></td><td class=\"t m0 x164f h29 y6167 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y6167 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x7c6 h29 y6167 ff3 fs5 fc3 sc0 ls8d ws86\">surplus avai<span class=\"_ _2\"></span>lable </td><td></td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6168 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6168 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 xeda h29 y6168 ff3 fs5 fc3 sc0 ls1 ws1\">as<span class=\"_ gs348\"> </span>a re<span class=\"_ _0\"></span>fund </td><td class=\"t m0 x540 h29 y6168 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a h29 y6169 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y616a w9a6 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b15 y616a w2d8 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b59 y616a w9c1 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(27<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf66 y616a w2db h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b81 y616a w96 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x784 h23 y616b ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a66 w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y5a66 w1b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b83 y5a66 w1d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0e y5a66 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b84 y5a66 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c62 w79 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y5c62 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b40 y5c62 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b41 y5c62 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b42 y5c62 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y616c w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b85 y616c wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b86 y616c w181 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b87 y616c w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b88 y616c w4f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y616d ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bb2 w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b20 y5bb2 wca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b89 y5bb2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b25 y5bb2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8a y5bb2 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb3 w95b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y5bb3 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b24 y5bb3 wb2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8b y5bb3 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8c y5bb3 w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd8 w9c2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in provision for t<span class=\"_ _0\"></span>ax on ec<span class=\"_ _0\"></span>onomic surp<span class=\"_ _0\"></span>lus available as a ref<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a49 y5bd8 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4a y5bd8 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8d y5bd8 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8e y5bd8 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y616e w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2b y616e wca h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8f y616e wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b90 y616e w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab1 y616e w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w9a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y5b24 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y5b24 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y5b24 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128f y5b24 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5b25 w187 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b91 y5b25 w397 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b92 y5b25 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b93 y5b25 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b94 y5a16 w12b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b95 y5a16 w9c3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>242)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b96 y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b97 y5a16 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs8e5\"><table class=\"s w9c4 h29e\" id=\"_9d1bfb0e-b65b-4e3b-ac6d-33ba6c7aa046\"><tr><td></td><td></td><td></td><td class=\"t m0 x246 ha y616f ff2 fs5 fc3 sc0 ls1 ws1\">Prov<span class=\"_ _0\"></span>ision fo<span class=\"_ _0\"></span>r tax on </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb61 ha y6170 ff2 fs5 fc3 sc0 ls1 ws1\">the e<span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>omic </td><td></td></tr><tr><td></td><td class=\"t m0 xac4 ha y6171 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> of </td><td class=\"t m0 x57d ha y6171 ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td class=\"t m0 x53f ha y6171 ff2 fs5 fc3 sc0 ls11 ws11\">surplus available<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xac1 ha y6172 ff2 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme<span class=\"_ gs1f7\"> </span>a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s </td><td class=\"t m0 xa78 ha y6172 ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x783 ha y6172 ff2 fs5 fc3 sc0 ls1 ws1\">as<span class=\"_ gs1f7\"> </span>a<span class=\"_ gs1f7\"> </span>re<span class=\"_ _0\"></span>fund </td><td class=\"t m0 x540 ha y6172 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a ha y6173 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a09 w9a6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b15 y5a09 w2d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">288<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b98 y5a09 w6c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b99 y5a09 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9a y5a09 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6128 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y6128 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9b y6128 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9c y6128 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9d y6128 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a65 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y5a65 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad7 y5a65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9e y5a65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9f y5a65 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d5e w976 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b85 y5d5e w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba0 y5d5e w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba1 y5d5e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba2 y5d5e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6174 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a0e w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba3 y5a0e w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ed y5a0e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba4 y5a0e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba5 y5a0e w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd6 w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a89 y5bd6 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e6 y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba6 y5bd6 w9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb2 w978 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8d y5bb2 w1ae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba7 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba8 y5bb2 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6122 w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae3 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba9 y6122 w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1baa y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bab y6122 w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd8 w9c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in provision for t<span class=\"_ _0\"></span>ax on ec<span class=\"_ _0\"></span>onomic surp<span class=\"_ _0\"></span>lus available as a ref<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bac y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bad y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bae y5bd8 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1baf y5bd8 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4d y5afa w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb0 y5afa w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb1 y5afa w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb2 y5afa wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w9a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y5a46 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb3 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b84 y5a46 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5b25 w1b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb4 y5b25 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb5 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda4 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb6 y5a16 w2d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb7 y5a16 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>273)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x775 y5a16 w324 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb8 y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs8e6\">G1<span class=\"_ _0\"></span>.4.<span class=\"_ _0\"></span>3 Sch<span class=\"_ _0\"></span>eme as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8e7\">The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs8e8\"><table class=\"s w9c5 h29f\" id=\"_b6f2a552-d4f4-4c80-91ff-a468aa8ea122\"><tr><td></td><td></td><td class=\"c n xed4 y6175 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y6175 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6176 ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y6176 ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6177 ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n </td><td></td><td class=\"t m0 x1bb9 ha y6177 ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6178 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 xafb h29 y6178 ff3 fs5 fc3 sc0 ls1 ws1\">ac<span class=\"_ _0\"></span>tive<span class=\"_ gs348\"> </span>ma<span class=\"_ _0\"></span>rket </td><td class=\"t m0 x5a2 ha y6178 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x1bba ha y6178 ff2 fs5 fc3 sc0 ls1 ws1\">ac<span class=\"_ _0\"></span>tive<span class=\"_ gs1f7\"> </span>ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6179 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6179 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6179 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6179 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a44 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbb y5a44 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbc y5a44 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbd y5a44 w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbe y5a44 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 w9c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Government bonds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbf y5a12 w167 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5a12 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc0 y5a12 w39d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">118<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc1 y5a12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w9b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Corporate bonds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7a y5a45 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc2 y5a45 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc3 y5a45 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a4 y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w9c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Othe<span class=\"_ _0\"></span>r quo<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ecurities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc4 y5a46 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x636 y5a46 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc5 y5a46 w151 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd44 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b65 y5a47 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5a47 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5a47 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b66 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Pensi<span class=\"_ _2\"></span>on scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y5a16 w1a4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc6 y5a16 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x521 y5a16 w9c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc7 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs8ea\">G1.4.4 Defined benefit obligati<span class=\"_ _2\"></span>on<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8eb\">The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ec\">\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 6<span class=\"_ _0\"></span>6% (202<span class=\"_ _0\"></span>3: 66<span class=\"_ _0\"></span>%<span class=\"_ _2\"></span>)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ed\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 34% (202<span class=\"_ _2\"></span>3: 34%)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ee\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 15 ye<span class=\"_ _0\"></span>ars (2023: 17 ye<span class=\"_ _0\"></span>ars).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs8ef\">Principal assumptions<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f0\">The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the Re<span class=\"_ _0\"></span>Assure S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>re set out in the t<span class=\"_ _0\"></span>able bel<span class=\"_ _0\"></span>ow:<span class=\"_ _3bd\"> </span></div><div class=\"gs8bb\"><table class=\"s w26d h2a0\" id=\"_eb3f8f9d-1fcb-4787-ade4-f64baedb6054\"><tr><td></td><td class=\"t m0 x1ce h29 y617a ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y617a ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x56c h29 y617b ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x56d ha y617b ff2 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60dc w9b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (5% per ann<span class=\"_ _0\"></span>um or RPI if lower)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b69 y60dc w9b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6a y60dc w9b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">2.<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60dd w9c9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc8 y60dd w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc9 y60dd w9ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2.60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y617c w9cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase in sal<span class=\"_ _0\"></span>aries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b71 y617c w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">3<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bca y617c w9cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60df w9a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6d y60df w9bb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">5.55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6e y60df w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60c6 w9a2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6f y60c6 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b70 y60c6 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b71 y5b4c w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b72 y5b4c w9a0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f1\">The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yi<span class=\"_ _0\"></span>eld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f2\">of the ReA<span class=\"_ _0\"></span>ssure Sc<span class=\"_ _0\"></span>heme\u2019s liabilities<span class=\"_ _0\"></span>. This meth<span class=\"_ _0\"></span>od determin<span class=\"_ _0\"></span>es an equiv<span class=\"_ _0\"></span>alent single r<span class=\"_ _0\"></span>ate for each of the dis<span class=\"_ _0\"></span>count and in<span class=\"_ _0\"></span>flation rates<span class=\"_ _0\"></span>, which is de<span class=\"_ _0\"></span>rived<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f3\">from the p<span class=\"_ _0\"></span>rofile of projec<span class=\"_ _0\"></span>ted ben<span class=\"_ _0\"></span>efit payment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f4\">The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with SAP<span class=\"_ _0\"></span>S Series 3 li<span class=\"_ _0\"></span>ght base t<span class=\"_ _0\"></span>ables with a 1<span class=\"_ _0\"></span>02% (2023: 1<span class=\"_ _0\"></span>02%) multiplie<span class=\"_ _0\"></span>r for males an<span class=\"_ _0\"></span>d a 95%<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f5\">(2023<span class=\"_ _0\"></span>: 95%) multiplier for fe<span class=\"_ _0\"></span>males<span class=\"_ _0\"></span>, with CMI 2<span class=\"_ _0\"></span>019 pro<span class=\"_ _0\"></span>jectio<span class=\"_ _0\"></span>ns in line with a 1<span class=\"_ _0\"></span>.5% pa lon<span class=\"_ _0\"></span>g-term trend up to a<span class=\"_ _0\"></span>nd includin<span class=\"_ _0\"></span>g 31 Dece<span class=\"_ _0\"></span>mber 202<span class=\"_ _0\"></span>0. Future<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f6\">long<span class=\"_ _0\"></span>evity im<span class=\"_ _0\"></span>provements f<span class=\"_ _0\"></span>rom 1 Januar<span class=\"_ _0\"></span>y 2021 on<span class=\"_ _0\"></span>wards are in line with am<span class=\"_ _0\"></span>ende<span class=\"_ _0\"></span>d CMI 2023 C<span class=\"_ _0\"></span>ore Proje<span class=\"_ _0\"></span>ctions (20<span class=\"_ _0\"></span>22: from 1 Janu<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>21 in line with<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f7\">ame<span class=\"_ _0\"></span>nded CM<span class=\"_ _0\"></span>I 2022 Co<span class=\"_ _0\"></span>re Projec<span class=\"_ _0\"></span>tions) with a lon<span class=\"_ _0\"></span>g-term trend of 1<span class=\"_ _0\"></span>.6% pa (2<span class=\"_ _0\"></span>023: 1.<span class=\"_ _0\"></span>5%) for males an<span class=\"_ _0\"></span>d 1.<span class=\"_ _0\"></span>2% (2023: 1<span class=\"_ _0\"></span>.2%) for fem<span class=\"_ _0\"></span>ales.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f8\">Unde<span class=\"_ _0\"></span>r these as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s the average life ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>ancy from re<span class=\"_ _0\"></span>tirement for a me<span class=\"_ _0\"></span>mber curre<span class=\"_ _0\"></span>ntly age<span class=\"_ _0\"></span>d 45 retiring at a<span class=\"_ _0\"></span>ge 60 is 2<span class=\"_ _0\"></span>9.9 ye<span class=\"_ _0\"></span>ars and 31<span class=\"_ _0\"></span>.5<span class=\"_ gs47\"> </span>yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8f9\">for male a<span class=\"_ _0\"></span>nd female m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s respec<span class=\"_ _0\"></span>tively (2023<span class=\"_ _0\"></span>: 29.7 year<span class=\"_ _0\"></span>s and 31.<span class=\"_ _0\"></span>3 years for m<span class=\"_ _0\"></span>ale and fem<span class=\"_ _0\"></span>ale membe<span class=\"_ _0\"></span>rs resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs8fa\">A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span></div><div class=\"gs8fb\"><table class=\"s w9cd h29b\" id=\"_7dc257c4-b7d8-4937-b1bf-ba40f2dc813d\"><tr><td class=\"t m0 x21a h29 y617d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"c n xecd y617e w97d h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y617e w97e h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y617e w97f h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y617e w980 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y617f ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y6181 ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b44 w9ce h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Impact on the defined benefit obligati<span class=\"_ _2\"></span>on (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcb y5b44 w7aa h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c7 ws1df\">242<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcc y5b44 w9cf h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcd y5b44 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5b44 wb3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bce y5b44 w77 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14db y5b44 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcf y5b44 w2db h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs8fc\"><table class=\"s w9d0 h2a1\" id=\"_bddff4b4-77f9-49e5-9c9e-d00c7b8a767c\"><tr><td class=\"t m0 x21a ha y6182 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td><td class=\"c n xecd y6183 w983 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6183 w984 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6183 w985 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6183 w986 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y6184 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y6185 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y6185 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y6186 ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5b4c w628 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd0 y5b4c w731 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd1 y5b4c wb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd2 y5b4c wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd3 y5b4c w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd4 y5b4c w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd5 y5b4c w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8fd\">The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8fe\">occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ff\">ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n<span class=\"_ gs47\"> </span>calcula<span class=\"_ _0\"></span>ting the pen<span class=\"_ _0\"></span>sion liabilit<span class=\"_ _0\"></span>y reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d within<span class=\"_ gs47\"> </span>the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs900\">financial position.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs901\">G1<span class=\"_ _0\"></span>.5 S<span class=\"_ _0\"></span>un Life Ass<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany of Can<span class=\"_ _0\"></span>ada 1<span class=\"_ _0\"></span>98<span class=\"_ _0\"></span>8 UK and I<span class=\"_ _0\"></span>rish Em<span class=\"_ _0\"></span>ployee Ben<span class=\"_ _0\"></span>efits s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs902\">G1<span class=\"_ _0\"></span>.5<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e detai<span class=\"_ _0\"></span>ls<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs903\">The S<span class=\"_ _0\"></span>un Life Assura<span class=\"_ _0\"></span>nce Com<span class=\"_ _0\"></span>pany of Canad<span class=\"_ _0\"></span>a 198<span class=\"_ _0\"></span>8 UK an<span class=\"_ _0\"></span>d Irish Employee B<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s schem<span class=\"_ _0\"></span>e (\u2018S<span class=\"_ _0\"></span>un Life o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada S<span class=\"_ _0\"></span>cheme\u2019<span class=\"_ _0\"></span>) was co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d within<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs904\">the Gro<span class=\"_ _0\"></span>up financia<span class=\"_ _0\"></span>l stateme<span class=\"_ _0\"></span>nts following th<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion of the Sun Life bus<span class=\"_ _0\"></span>inesse<span class=\"_ _0\"></span>s on 3 April 2023<span class=\"_ _0\"></span>. The S<span class=\"_ _0\"></span>un Lif<span class=\"_ _2\"></span>e of C<span class=\"_ _0\"></span>anada S<span class=\"_ _0\"></span>cheme is a re<span class=\"_ _0\"></span>gistere<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs905\">occ<span class=\"_ _0\"></span>upational p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>, set up under tr<span class=\"_ _0\"></span>ust, an<span class=\"_ _0\"></span>d legall<span class=\"_ _0\"></span>y separa<span class=\"_ _0\"></span>te from the princip<span class=\"_ _0\"></span>al employer Ph<span class=\"_ _0\"></span>oenix Life CA Limited (forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>un<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs906\">Life Ass<span class=\"_ _0\"></span>urance C<span class=\"_ _0\"></span>ompany of Can<span class=\"_ _0\"></span>ada (U.<span class=\"_ _0\"></span>K.) Limited). Th<span class=\"_ _0\"></span>e Sche<span class=\"_ _0\"></span>me is adminis<span class=\"_ _0\"></span>tered by a spe<span class=\"_ _0\"></span>cialist t<span class=\"_ _0\"></span>hird par<span class=\"_ _0\"></span>ty admin<span class=\"_ _0\"></span>istrator, Hymans Ro<span class=\"_ _0\"></span>ber<span class=\"_ _0\"></span>tson LLP<span class=\"_ _4\"></span>. A<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs907\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee B<span class=\"_ _0\"></span>oard is resp<span class=\"_ _0\"></span>onsible for en<span class=\"_ _0\"></span>suring the S<span class=\"_ _0\"></span>cheme i<span class=\"_ _0\"></span>s run in acco<span class=\"_ _0\"></span>rdance with t<span class=\"_ _0\"></span>he T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st Dee<span class=\"_ _0\"></span>d and Rules a<span class=\"_ _0\"></span>nd for ensurin<span class=\"_ _0\"></span>g complian<span class=\"_ _0\"></span>ce with<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs908\">leg<span class=\"_ _0\"></span>islation alth<span class=\"_ _0\"></span>ough ce<span class=\"_ _0\"></span>rtain t<span class=\"_ _0\"></span>asks are dele<span class=\"_ _0\"></span>gated to thir<span class=\"_ _0\"></span>d partie<span class=\"_ _0\"></span>s. The T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stee Bo<span class=\"_ _0\"></span>ard is made up of thre<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>tees<span class=\"_ _0\"></span>; an Indepe<span class=\"_ _0\"></span>ndent T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee who is als<span class=\"_ _0\"></span>o<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs909\">the Ch<span class=\"_ _0\"></span>air<span class=\"_ _2\"></span>, a Princip<span class=\"_ _0\"></span>al Employer app<span class=\"_ _0\"></span>ointed T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee an<span class=\"_ _0\"></span>d a Membe<span class=\"_ _0\"></span>r-Nomin<span class=\"_ _0\"></span>ated T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee. T<span class=\"_ _0\"></span>he Indep<span class=\"_ _0\"></span>endent T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee is Capi<span class=\"_ _0\"></span>tal Cranfie<span class=\"_ _0\"></span>ld P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs90a\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s Limited. The S<span class=\"_ _0\"></span>un Life of Canad<span class=\"_ _0\"></span>a Schem<span class=\"_ _0\"></span>e is close<span class=\"_ _0\"></span>d to new entrant<span class=\"_ _0\"></span>s and to future a<span class=\"_ _0\"></span>ccrua<span class=\"_ _0\"></span>l f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r active me<span class=\"_ _0\"></span>mbers<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs90b\">The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the Sun Life of Can<span class=\"_ _0\"></span>ada Sc<span class=\"_ _0\"></span>heme as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 under<span class=\"_ _0\"></span>taken by<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs90c\">indep<span class=\"_ _0\"></span>endent q<span class=\"_ _0\"></span>ualified ac<span class=\"_ _0\"></span>tuaries<span class=\"_ _0\"></span>. The pre<span class=\"_ _0\"></span>sent value<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation and the re<span class=\"_ _0\"></span>lated interes<span class=\"_ _0\"></span>t cost<span class=\"_ _0\"></span>s have bee<span class=\"_ _0\"></span>n measure<span class=\"_ _0\"></span>d using the<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs90d\">proj<span class=\"_ _0\"></span>ected un<span class=\"_ _0\"></span>it credit met<span class=\"_ _0\"></span>hod.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs90e\">The e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus of the S<span class=\"_ _0\"></span>cheme is a<span class=\"_ _0\"></span>nticipated to be u<span class=\"_ _0\"></span>sed to cover f<span class=\"_ _0\"></span>uture cost<span class=\"_ _0\"></span>s of the Sch<span class=\"_ _0\"></span>eme and will b<span class=\"_ _0\"></span>e fully utilise<span class=\"_ _0\"></span>d prior to any windin<span class=\"_ _0\"></span>g-up<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs90f\">of the S<span class=\"_ _0\"></span>cheme. A<span class=\"_ _0\"></span>s a result, n<span class=\"_ _0\"></span>o provision for ta<span class=\"_ _0\"></span>x is deduc<span class=\"_ _0\"></span>ted from the s<span class=\"_ _0\"></span>urplus.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs910\">Funding<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs911\">The la<span class=\"_ _0\"></span>st fundin<span class=\"_ _0\"></span>g valuation of the S<span class=\"_ _0\"></span>un Life of Canada S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e was carrie<span class=\"_ _0\"></span>d out by a qualifie<span class=\"_ _0\"></span>d act<span class=\"_ _0\"></span>uary a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 202<span class=\"_ _0\"></span>2 and showe<span class=\"_ _0\"></span>d a surplus<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs912\">of \u00a36 million<span class=\"_ _0\"></span>. No contribu<span class=\"_ _0\"></span>tions are req<span class=\"_ _0\"></span>uired to be paid by th<span class=\"_ _0\"></span>e employer into the S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs914\">G1.5.<span class=\"_ _0\"></span>2 Summary o<span class=\"_ _2\"></span>f amounts recogn<span class=\"_ _2\"></span>ised in the<span class=\"_ _2\"></span> consolidated<span class=\"_ _2\"></span> financial statements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs915\">The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs8ae\"><table class=\"s w9d1 h2a2\" id=\"_00dfd8a0-f14d-49e6-b1f5-8a84aa0e56af\"><tr><td></td><td class=\"t m0 x164f h29 y6187 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y6187 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td></td><td class=\"t m0 x1a23 h29 y6187 ff3 fs5 fc3 sc0 ls65 wsc0\">Reimburse<span class=\"_ _0\"></span>ment </td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6188 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6188 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x5a2 h29 y6188 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x540 h29 y6188 ff3 fs5 fc3 sc0 ls1 ws1\">rig<span class=\"_ _0\"></span>ht </td></tr><tr><td class=\"t m0 x21a h29 y6189 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y618a w9d2 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls5f ws122\">At January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd6 y618a w338 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">297<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd7 y618a w9d3 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>280<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c1 y618a w4ef h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd8 y618a wb3 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y618b w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y618b w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd9 y618b w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bda y618b wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdb y618b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y618c w79 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y618c w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b40 y618c w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdc y618c w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdd y618c w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y618d w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bde y618d w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdf y618d w3b6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be0 y618d w4f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be1 y618d we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y618e ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y618f w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b20 y618f w39f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be2 y618f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a47 y618f w39f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be3 y618f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6031 w977 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4a y6031 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4b y6031 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be4 y6031 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be5 y6031 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6190 w95b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y6190 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b24 y6190 w6d1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be6 y6190 w4e0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be7 y6190 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b40 w95c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y5b40 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3f y5b40 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be8 y5b40 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be9 y5b40 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6191 w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2b y6191 w18a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bea y6191 w123 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12cd y6191 w84d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1beb y6191 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bec y5b43 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bed y5b43 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bee y5b43 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76b y5b43 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bef y5b44 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf0 y5b44 w8ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>252)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf1 y5b44 w58 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf2 y5b44 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs916\"><table class=\"s w9d4 h2a3\" id=\"_64d34fb1-3619-405d-81a0-cda9792bc31a\"><tr><td></td><td class=\"t m0 xac4 ha y6192 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> of </td><td class=\"t m0 x57d ha y6192 ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td></td><td class=\"t m0 x9cd ha y6192 ff2 fs5 fc3 sc0 ls21 ws23\">Reimbur<span class=\"_ _0\"></span>sement </td></tr><tr><td></td><td class=\"t m0 xac1 ha y6193 ff2 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme<span class=\"_ gs1f7\"> </span>a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s </td><td class=\"t m0 xa78 ha y6193 ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x5a2 ha y6193 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 xdaf ha y6193 ff2 fs5 fc3 sc0 ls1 ws1\">rig<span class=\"_ _0\"></span>ht </td></tr><tr><td class=\"t m0 x21a ha y6194 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y6195 ff3 fs6 fc3 sc0 ls1 ws1\">On a<span class=\"_ _0\"></span>cquisit<span class=\"_ _0\"></span>ion of Phoe<span class=\"_ _0\"></span>nix Life CA Holdin<span class=\"_ _0\"></span>gs Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>form<span class=\"_ _0\"></span>erly S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6196 w9d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">UK Lim<span class=\"_ _0\"></span>ited)(note H<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf3 y6196 w120 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6c ws1ca\">302<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf4 y6196 w9d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>286<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf5 y6196 w11a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0f y6196 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c62 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y5c62 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9b y5c62 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf6 y5c62 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x460 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6197 w976 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b85 y6197 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf7 y6197 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf49 y6197 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf8 y6197 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6198 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bb2 w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3a y5bb2 w209 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf9 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfa y5bb2 w209 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfb y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6122 w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfc y6122 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfd y6122 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfe y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c74 w978 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5c74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bff y5c74 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c00 y5c74 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c01 y5c74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd9 w97a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xperien<span class=\"_ _0\"></span>ce gain<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8f y5bd9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c02 y5bd9 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c03 y5bd9 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c04 y5bd9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w95e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4d y5c66 w9d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c05 y5c66 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c06 y5c66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1091 y5c66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c07 y5a47 w1ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c08 y5a47 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c09 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x25d y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bef y5a16 w16f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">297<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0a y5a16 w9d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0b y5a16 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0c y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs917\">G1<span class=\"_ _0\"></span>.5<span class=\"_ _0\"></span>.3 Sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs918\">The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs919\"><table class=\"s w9d9 h2a4\" id=\"_b9c3569b-606d-469a-8043-9dc30e2c2f97\"><tr><td></td><td></td><td class=\"c n xed4 y6199 w467 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y6199 w9da h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y619a ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1bba h29 y619a ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y619b ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x7a8 h29 y619b ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y619c ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y619c ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 h29 y619c ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e h29 y619c ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td></tr><tr><td></td><td class=\"t m0 x542 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y619e web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5aa y619e w197 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0d y619e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0e y619e w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0f y619e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cf6 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b65 y5cf6 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5cf6 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5cf6 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c10 y5cf6 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y619f w648 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Qua<span class=\"_ _0\"></span>lifying in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts</div><div class=\"t m0 xe88 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c11 y5b2a w47 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c12 y5b2a w2a7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c13 y5b2a w249 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">257<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c14 y5b2a w249 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">257<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9db h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Pension<span class=\"_ _2\"></span> scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c15 y5a16 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c16 y5a16 w2a7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c17 y5a16 w1c1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c18 y5a16 w4c2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs91a\">1 <span class=\"_ _9\"> </span>In 20<span class=\"_ _0\"></span>18 and 2<span class=\"_ _0\"></span>021 th<span class=\"_ _0\"></span>e Sche<span class=\"_ _0\"></span>me co<span class=\"_ _0\"></span>mplete<span class=\"_ _0\"></span>d two b<span class=\"_ _0\"></span>uy-i<span class=\"_ _0\"></span>n trans<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>ions wi<span class=\"_ _0\"></span>th ext<span class=\"_ _0\"></span>ernal p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>ies whi<span class=\"_ _0\"></span>ch cove<span class=\"_ _0\"></span>r appro<span class=\"_ _0\"></span>ximate<span class=\"_ _0\"></span>ly 90<span class=\"_ _0\"></span>% of the S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e\u2019s liabi<span class=\"_ _0\"></span>lities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs91b\">G1.5<span class=\"_ _0\"></span>.4 Defi<span class=\"_ _2\"></span>ned benefit obligation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs91c\">The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs91d\">\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 4<span class=\"_ _0\"></span>0% (2023: 4<span class=\"_ _0\"></span>0%); and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs91e\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 6<span class=\"_ _0\"></span>0%<span class=\"_ _2\"></span> (2023: 60%)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs91f\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 11<span class=\"_ _0\"></span>.7 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars (2023<span class=\"_ _0\"></span>: 12.8 year<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs921\">Principal assumptions<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs922\">The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the S<span class=\"_ _0\"></span>un Life of Canada S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e are set out in th<span class=\"_ _0\"></span>e table be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span></div><div class=\"gs923\"><table class=\"s w9dc h2a5\" id=\"_8cdd9030-1c2f-462d-8e19-264bf9bcbd13\"><tr><td></td><td class=\"t m0 x1ce h29 y61a0 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd h29 y61a0 ff3 fs5 fc3 sc0 ls22 ws24\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x56c h29 y61a1 ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1c19 h29 y61a1 ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae5 w9dd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1a y5ae5 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1b y5ae5 w99e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.0<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w9c9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1c y5b29 w9de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">2.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1d y5b29 w9df h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">2.15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 w9a1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6d y5ae6 w9bb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">5.55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6e y5ae6 w675 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w9a2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6f y5a15 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b70 y5a15 w99e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1e y5a16 w9e0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">2.30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d4 y5a16 w365 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">2.30<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs924\">The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yie<span class=\"_ _0\"></span>ld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs925\">of the Sun Life of Ca<span class=\"_ _0\"></span>nada S<span class=\"_ _0\"></span>cheme\u2019s liabilitie<span class=\"_ _0\"></span>s. This me<span class=\"_ _0\"></span>thod determ<span class=\"_ _0\"></span>ines an equi<span class=\"_ _0\"></span>valent singl<span class=\"_ _0\"></span>e rate for each of th<span class=\"_ _0\"></span>e discount an<span class=\"_ _0\"></span>d inflation rates<span class=\"_ _0\"></span>, which is<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs926\">derive<span class=\"_ _0\"></span>d from the profile of pro<span class=\"_ _0\"></span>jecte<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ayments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs927\">The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with 20<span class=\"_ _0\"></span>22 VIT<span class=\"_ _4\"></span>A Lite ta<span class=\"_ _0\"></span>bles (2023<span class=\"_ _0\"></span>: 2022 tabl<span class=\"_ _0\"></span>es)<span class=\"_ _2\"></span>. Fut<span class=\"_ _0\"></span>ure longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ents are in line wit<span class=\"_ _0\"></span>h<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs928\">the 202<span class=\"_ _0\"></span>3 CMI mo<span class=\"_ _0\"></span>del with no wei<span class=\"_ _0\"></span>ght on 2020 and 2<span class=\"_ _0\"></span>021 exper<span class=\"_ _0\"></span>ience an<span class=\"_ _0\"></span>d 15% weighting o<span class=\"_ _0\"></span>n 2022 and 202<span class=\"_ _0\"></span>3 experien<span class=\"_ _0\"></span>ce (2023: 2<span class=\"_ _0\"></span>022 CMI m<span class=\"_ _0\"></span>odel with<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs929\">no weig<span class=\"_ _0\"></span>ht on 2020 and 20<span class=\"_ _0\"></span>21 experie<span class=\"_ _0\"></span>nce and 2<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% we<span class=\"_ _0\"></span>ighting on 202<span class=\"_ _0\"></span>2 experien<span class=\"_ _0\"></span>ce), with a long<span class=\"_ _0\"></span>-t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rm trend of 1.<span class=\"_ _0\"></span>5% p.a<span class=\"_ _0\"></span>. for males (2023<span class=\"_ _0\"></span>: 1.<span class=\"_ _0\"></span>5%<span class=\"_ _2\"></span>) an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs92a\">1.<span class=\"_ _0\"></span>5% p.a<span class=\"_ _0\"></span>. f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>males (2023<span class=\"_ _0\"></span>: 1.<span class=\"_ _0\"></span>5%<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs92b\">Unde<span class=\"_ _0\"></span>r these as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s the average life ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>ancy from re<span class=\"_ _0\"></span>tirement for a me<span class=\"_ _0\"></span>mber curre<span class=\"_ _0\"></span>ntly age<span class=\"_ _0\"></span>d 45 retiring at a<span class=\"_ _0\"></span>ge 65 i<span class=\"_ _0\"></span>s 23.1 years an<span class=\"_ _0\"></span>d 26.1<span class=\"_ gs47\"> </span>year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs92c\">for male a<span class=\"_ _0\"></span>nd female m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s respec<span class=\"_ _0\"></span>tively (2023<span class=\"_ _0\"></span>: 23.1 years a<span class=\"_ _0\"></span>nd 26.1 year<span class=\"_ _0\"></span>s for male and fe<span class=\"_ _0\"></span>male mem<span class=\"_ _0\"></span>bers res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs92d\">A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span></div><div class=\"gs92e\"><table class=\"s w9e1 h2a6\" id=\"_07af6d4d-9387-4d37-a0d9-5c835ccddcf9\"><tr><td class=\"t m0 x21a h29 y61a2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"c n xecd y61a3 w97d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y61a3 w97e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y61a3 w97f h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y61a3 w980 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y61a4 ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y61a6 ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5a16 w249 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">252<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1f y5a16 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c20 y5a16 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c21 y5a16 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c22 y5a16 w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c23 y5a16 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c24 y5a16 w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs92f\"><table class=\"s w9e2 h2a7\" id=\"_a6ab21cc-f3dc-4fca-a090-a51e6adc2eee\"><tr><td class=\"t m0 x21a ha y61a7 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td><td class=\"c n xecd y6161 w983 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6161 w984 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6161 w985 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6161 w986 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y61a8 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y61a9 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y61a9 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y61aa ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5a16 w2b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c25 y5a16 w9e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c26 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c27 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c28 y5a16 wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c29 y5a16 w4c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2a y5a16 w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs930\">The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs931\">to<span class=\"_ gs47\"> </span>occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and ch<span class=\"_ _0\"></span>anges in s<span class=\"_ _0\"></span>ome of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculatin<span class=\"_ _0\"></span>g the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation to<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs932\">signifi<span class=\"_ _0\"></span>cant act<span class=\"_ _0\"></span>uarial as<span class=\"_ _0\"></span>sumptions th<span class=\"_ _0\"></span>e same me<span class=\"_ _0\"></span>thod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n<span class=\"_ gs47\"> </span>calculat<span class=\"_ _0\"></span>ing the pen<span class=\"_ _0\"></span>sion liabilit<span class=\"_ _0\"></span>y reco<span class=\"_ _0\"></span>gnised w<span class=\"_ _0\"></span>ithin<span class=\"_ gs47\"> </span>the st<span class=\"_ _0\"></span>atement<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs933\">of<span class=\"_ gs47\"> </span>consolidated financial position.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-634": {
   "value": "G1. Pensi<span class=\"_ _2\"></span>on schemes<span class=\"_ _3bd\"> </span>Defined<span class=\"_ _2\"></span> contributi<span class=\"_ _2\"></span>on pension<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span>Oblig<span class=\"_ _0\"></span>ations for co<span class=\"_ _0\"></span>ntributions to de<span class=\"_ _0\"></span>fined contrib<span class=\"_ _0\"></span>ution pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes are rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed as an exp<span class=\"_ _0\"></span>ense in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span>st<span class=\"_ _0\"></span>atement as in<span class=\"_ _0\"></span>curred.<span class=\"_ _3bd\"> </span>Defined benefit<span class=\"_ _2\"></span> pension schemes<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>et surplus or defi<span class=\"_ _0\"></span>cit (the econ<span class=\"_ _0\"></span>omic surplus o<span class=\"_ _0\"></span>r deficit) in res<span class=\"_ _0\"></span>pect of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes is c<span class=\"_ _0\"></span>alculated by e<span class=\"_ _0\"></span>stimating t<span class=\"_ _0\"></span>he<span class=\"_ _3bd\"> </span>amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>uture bene<span class=\"_ _0\"></span>fit that employe<span class=\"_ _0\"></span>es have earn<span class=\"_ _0\"></span>ed in return for the<span class=\"_ _0\"></span>ir ser<span class=\"_ _0\"></span>vice in the curre<span class=\"_ _0\"></span>nt and prior yea<span class=\"_ _0\"></span>rs; that b<span class=\"_ _0\"></span>enefit is dis<span class=\"_ _0\"></span>counted to<span class=\"_ _3bd\"> </span>determin<span class=\"_ _0\"></span>e its pres<span class=\"_ _0\"></span>ent value and t<span class=\"_ _0\"></span>he fair value of any sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>sets is de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d. The Gro<span class=\"_ _0\"></span>up recogn<span class=\"_ _0\"></span>ises a pen<span class=\"_ _0\"></span>sion surplu<span class=\"_ _0\"></span>s on the basis th<span class=\"_ _0\"></span>at it is<span class=\"_ _3bd\"> </span>entitle<span class=\"_ _0\"></span>d to the surplu<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>ach sch<span class=\"_ _0\"></span>eme in the event of a gr<span class=\"_ _0\"></span>adual set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent of the liabilitie<span class=\"_ _0\"></span>s, due to it<span class=\"_ _0\"></span>s ability to o<span class=\"_ _0\"></span>rder a winding up of th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span>The e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus or defic<span class=\"_ _0\"></span>it is subse<span class=\"_ _0\"></span>quently ad<span class=\"_ _0\"></span>justed to e<span class=\"_ _0\"></span>liminate on con<span class=\"_ _0\"></span>solidation th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of ins<span class=\"_ _0\"></span>urance p<span class=\"_ _0\"></span>olicies is<span class=\"_ _0\"></span>sued by Gro<span class=\"_ _0\"></span>up<span class=\"_ _3bd\"> </span>entitie<span class=\"_ _0\"></span>s to the define<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes (the re<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d surplus or d<span class=\"_ _0\"></span>eficit). A corres<span class=\"_ _0\"></span>ponding a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment is mad<span class=\"_ _0\"></span>e to the carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>es of<span class=\"_ _3bd\"> </span>insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act liabili<span class=\"_ _0\"></span>ties and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up determine<span class=\"_ _0\"></span>s the net interes<span class=\"_ _0\"></span>t expen<span class=\"_ _0\"></span>se or incom<span class=\"_ _0\"></span>e on the net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability for t<span class=\"_ _0\"></span>he period by a<span class=\"_ _0\"></span>pplying the d<span class=\"_ _0\"></span>iscount rate use<span class=\"_ _0\"></span>d to measure th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation at the b<span class=\"_ _0\"></span>eginning of th<span class=\"_ _0\"></span>e annual pe<span class=\"_ _0\"></span>riod to the op<span class=\"_ _0\"></span>ening net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability. The disc<span class=\"_ _0\"></span>ount rate is the yie<span class=\"_ _0\"></span>ld at the peri<span class=\"_ _0\"></span>od end on A<span class=\"_ _0\"></span>A credit r<span class=\"_ _0\"></span>ated bond<span class=\"_ _0\"></span>s that have maturi<span class=\"_ _0\"></span>ty dates a<span class=\"_ _0\"></span>pproximating to th<span class=\"_ _0\"></span>e terms of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s oblig<span class=\"_ _0\"></span>ations. T<span class=\"_ _0\"></span>he calc<span class=\"_ _0\"></span>ulation is per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d by a qualified a<span class=\"_ _0\"></span>ctuar<span class=\"_ _0\"></span>y using th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>ted unit cre<span class=\"_ _0\"></span>dit metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>ment in the net p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y is analys<span class=\"_ _0\"></span>ed bet<span class=\"_ _0\"></span>ween the s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>, past s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce cost<span class=\"_ _0\"></span>, cur<span class=\"_ _0\"></span>tailment<span class=\"_ _0\"></span>s and set<span class=\"_ _0\"></span>tlement<span class=\"_ _0\"></span>s (all rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>trative exp<span class=\"_ _0\"></span>enses in th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent), the ne<span class=\"_ _0\"></span>t interest co<span class=\"_ _0\"></span>st on the ne<span class=\"_ _0\"></span>t pension s<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, inclu<span class=\"_ _0\"></span>ding any reimbur<span class=\"_ _0\"></span>sement a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt), remea<span class=\"_ _0\"></span>surement<span class=\"_ _0\"></span>s of the net pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>et/liabili<span class=\"_ _0\"></span>ty (reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in o<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome) and emp<span class=\"_ _0\"></span>loyer contribu<span class=\"_ _0\"></span>tions.<span class=\"_ _3bd\"> </span>The lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y swaps an<span class=\"_ _0\"></span>d quota sha<span class=\"_ _0\"></span>re reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me buy-in<span class=\"_ _0\"></span>s are treated as re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right<span class=\"_ _0\"></span>s and are re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at fair val<span class=\"_ _0\"></span>ue.<span class=\"_ _3bd\"> </span>This note d<span class=\"_ _0\"></span>escribe<span class=\"_ _0\"></span>s the Group\u2019s five main define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t pension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s for its empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>arl Group St<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f Pension S<span class=\"_ _0\"></span>cheme (<span class=\"_ _0\"></span>\u2018Pear<span class=\"_ _0\"></span>l Sc<span class=\"_ _0\"></span>heme\u2019<span class=\"_ _0\"></span>), the PGL Pen<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme, the Ab<span class=\"_ _0\"></span>bey Life Staf<span class=\"_ _0\"></span>f P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sch<span class=\"_ _0\"></span>eme (\u2018Abbey Life Sch<span class=\"_ _0\"></span>eme\u2019<span class=\"_ _0\"></span>) the ReAs<span class=\"_ _0\"></span>sure Staf<span class=\"_ _0\"></span>f P<span class=\"_ _2\"></span>en<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme (\u2018<span class=\"_ _0\"></span>ReAs<span class=\"_ _0\"></span>sure Sc<span class=\"_ _0\"></span>heme\u2019<span class=\"_ _0\"></span>) and from 3 April 2<span class=\"_ _0\"></span>023, th<span class=\"_ _0\"></span>e Sun Life Ass<span class=\"_ _0\"></span>urance C<span class=\"_ _0\"></span>ompany of Cana<span class=\"_ _0\"></span>da 19<span class=\"_ _0\"></span>88 UK a<span class=\"_ _0\"></span>nd Irish Empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Benefit<span class=\"_ _0\"></span>s Sche<span class=\"_ _0\"></span>me (\u2018<span class=\"_ _0\"></span>Sun Life of Cana<span class=\"_ _0\"></span>da Sc<span class=\"_ _0\"></span>heme\u2019<span class=\"_ _0\"></span>), and explain<span class=\"_ _0\"></span>s how the pe<span class=\"_ _0\"></span>nsion sch<span class=\"_ _0\"></span>eme ass<span class=\"_ _0\"></span>et/liab<span class=\"_ _0\"></span>ility is c<span class=\"_ _0\"></span>alculate<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>An anal<span class=\"_ _0\"></span>ysis of the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me (liabilit<span class=\"_ _0\"></span>y)<span class=\"_ _2\"></span>/asset for e<span class=\"_ _0\"></span>ach pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me is set ou<span class=\"_ _0\"></span>t in the table b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span><table class=\"s w93d h28a\" id=\"_5c61d656-2439-4b63-af2f-f610b8bc5abe\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y60e0 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y60e1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y60e2 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td></tr><tr><td></td><td class=\"t m0 x737 h29 y60e3 ff3 fs5 fc3 sc0 lsa0 ws9c\"> \u00a3m</td><td class=\"t m0 xafc ha y60e4 ff2 fs5 fc3 sc0 ls80 ws116\"> \u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y60e5 ff3 fs6 fc3 sc0 ls1 ws1\">Pearl G<span class=\"_ _0\"></span>roup Staf<span class=\"_ _0\"></span>f Pensi<span class=\"_ _0\"></span>on Sch<span class=\"_ _0\"></span>eme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y59fe w93e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Economic surplus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bd y59fe w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7be y59fe w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60e6 w93f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment for in<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>olicies elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a01 y60e6 w82c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,358)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a02 y60e6 w940 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(1<span class=\"_ _0\"></span>,507<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60e7 w941 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme liabili<span class=\"_ _0\"></span>ty, as repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a03 y60e7 w5f3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,31<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1785 y60e7 w205 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,45<span class=\"_ _0\"></span>7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60e8 w942 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Add: valu<span class=\"_ _0\"></span>e attribu<span class=\"_ _0\"></span>ted to ass<span class=\"_ _0\"></span>ets held by PLL wi<span class=\"_ _0\"></span>thin financia<span class=\"_ _0\"></span>l asset<span class=\"_ _0\"></span>s</div><div class=\"t m0 x1a04 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a05 y60e8 w7dd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">1,<span class=\"_ _0\"></span>348<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a06 y60e8 w943 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,50<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60e9 w944 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right in respe<span class=\"_ _0\"></span>ct of reins<span class=\"_ _0\"></span>urance, a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted (resta<span class=\"_ _0\"></span>ted</div><div class=\"t m0 x1a07 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1a08 hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a09 y60e9 w92 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">1<span class=\"_ _0\"></span>47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0a y60e9 w12b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a02 w945 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Adjusted net<span class=\"_ _2\"></span> pension scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0b y5a02 w158 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">185<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0c y5a02 w2d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">217<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60ea ff3 fs6 fc3 sc0 ls11 ws11\">PGL Pensi<span class=\"_ _2\"></span>on Scheme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y60eb w93e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic surplus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0d y60eb w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0e y60eb w2a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60ec w93f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Adju<span class=\"_ _0\"></span>stment for in<span class=\"_ _0\"></span>surance p<span class=\"_ _0\"></span>olicies elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x464 y60ec we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0f y60ec w665 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>93)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60ed w946 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts due from sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y eliminated on c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a10 y60ed w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a11 y60ed w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a08 w941 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme liabili<span class=\"_ _0\"></span>ty, as repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a12 y5a08 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a13 y5a08 w327 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>091<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60ee w394 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Add: as<span class=\"_ _0\"></span>sets he<span class=\"_ _0\"></span>ld by PLL within finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets</div><div class=\"t m0 x76c h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71a y60ee w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a14 y60ee w714 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">1,<span class=\"_ _0\"></span>206<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60ef w944 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right in respe<span class=\"_ _0\"></span>ct of reins<span class=\"_ _0\"></span>urance, a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted (resta<span class=\"_ _0\"></span>ted</div><div class=\"t m0 x1a07 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1a08 hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a15 y60ef w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a16 y60ef wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y603b w947 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws13\">Adjusted net<span class=\"_ _2\"></span> pension scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a17 y603b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a18 y603b w948 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">81<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60f0 ff3 fs6 fc3 sc0 ls1 ws1\">Abb<span class=\"_ _0\"></span>ey Life Staff Pen<span class=\"_ _0\"></span>sion S<span class=\"_ _0\"></span>cheme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c62 w949 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic deficit<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a19 y5c62 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1a y5c62 w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60f1 w94a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Minimum f<span class=\"_ _0\"></span>unding req<span class=\"_ _0\"></span>uirement oblig<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1b y60f1 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1c y60f1 w1fb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w94b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme liabili<span class=\"_ _0\"></span>ty<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x652 y5a68 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1d y5a68 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60f2 ff3 fs6 fc3 sc0 ls11 ws11\">ReAssure Sta<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span> Pension Scheme<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5bb3 w93e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic surplus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7bd y5bb3 w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1e y5bb3 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w94c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Provision for t<span class=\"_ _0\"></span>ax on that pa<span class=\"_ _0\"></span>rt of the e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus availabl<span class=\"_ _0\"></span>e as a refund on a win<span class=\"_ _0\"></span>ding-up of the S<span class=\"_ _0\"></span>cheme<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1f y5bd8 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a20 y5bd8 w324 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w94d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Net pension<span class=\"_ _2\"></span> scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x713 y5afa w77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a21 y5afa w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y60f3 ff3 fs6 fc3 sc0 ls1 ws1\">Sun Life of C<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>a Sche<span class=\"_ _0\"></span>me<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b25 w94d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Net pension<span class=\"_ _2\"></span> scheme asset<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x713 y5b25 w58 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb2c y5b25 w2c5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w94e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt right<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5a16 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x36c y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>2 <span class=\"_ _1a\"> </span>Th<span class=\"_ _0\"></span>e Pearl S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me and t<span class=\"_ _0\"></span>he PGL Pe<span class=\"_ _0\"></span>nsio<span class=\"_ _0\"></span>n Sche<span class=\"_ _0\"></span>me bot<span class=\"_ _0\"></span>h previ<span class=\"_ _0\"></span>ously e<span class=\"_ _0\"></span>xecu<span class=\"_ _0\"></span>ted bu<span class=\"_ _0\"></span>y-in tr<span class=\"_ _0\"></span>ansa<span class=\"_ _0\"></span>ctio<span class=\"_ _0\"></span>ns with a G<span class=\"_ _0\"></span>roup lif<span class=\"_ _0\"></span>e compa<span class=\"_ _0\"></span>ny and s<span class=\"_ _0\"></span>ubse<span class=\"_ _0\"></span>quent<span class=\"_ _0\"></span>ly ass<span class=\"_ _0\"></span>ets su<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>ting t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up\u2019s act<span class=\"_ _0\"></span>uaria<span class=\"_ _0\"></span>l liabil<span class=\"_ _0\"></span>ities w<span class=\"_ _0\"></span>ere rec<span class=\"_ _0\"></span>ogn<span class=\"_ _0\"></span>ised o<span class=\"_ _0\"></span>n a line-<span class=\"_ _0\"></span>by-lin<span class=\"_ _0\"></span>e basi<span class=\"_ _0\"></span>s withi<span class=\"_ _0\"></span>n financ<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s in the s<span class=\"_ _0\"></span>tatem<span class=\"_ _0\"></span>ent of co<span class=\"_ _0\"></span>nsoli<span class=\"_ _0\"></span>date<span class=\"_ _0\"></span>d financ<span class=\"_ _0\"></span>ial po<span class=\"_ _0\"></span>sitio<span class=\"_ _0\"></span>n. Fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s are inc<span class=\"_ _0\"></span>lude<span class=\"_ _0\"></span>d in notes G<span class=\"_ _0\"></span>1.1 an<span class=\"_ _0\"></span>d G1.<span class=\"_ _0\"></span>2 belo<span class=\"_ _0\"></span>w.  <span class=\"_ _19\"> </span>A<span class=\"_ _0\"></span>n adju<span class=\"_ _0\"></span>sted n<span class=\"_ _0\"></span>et pen<span class=\"_ _0\"></span>sion s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e ass<span class=\"_ _0\"></span>et has b<span class=\"_ _0\"></span>een pr<span class=\"_ _0\"></span>esen<span class=\"_ _0\"></span>ted in bo<span class=\"_ _0\"></span>th the cu<span class=\"_ _0\"></span>rrent a<span class=\"_ _0\"></span>nd prio<span class=\"_ _0\"></span>r year<span class=\"_ _0\"></span>s in relat<span class=\"_ _0\"></span>ion to th<span class=\"_ _0\"></span>e Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e and in t<span class=\"_ _0\"></span>he com<span class=\"_ _0\"></span>parat<span class=\"_ _0\"></span>ive per<span class=\"_ _0\"></span>iod in re<span class=\"_ _0\"></span>latio<span class=\"_ _0\"></span>n to the PG<span class=\"_ _0\"></span>L Sch<span class=\"_ _0\"></span>eme. T<span class=\"_ _0\"></span>he val<span class=\"_ _0\"></span>ue of the as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>eld by P<span class=\"_ _0\"></span>LL withi<span class=\"_ _0\"></span>n financ<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s in resp<span class=\"_ _0\"></span>ect of t<span class=\"_ _0\"></span>he PGL Pe<span class=\"_ _0\"></span>nsio<span class=\"_ _0\"></span>n Sche<span class=\"_ _0\"></span>me bu<span class=\"_ _0\"></span>y-ins w<span class=\"_ _0\"></span>as equ<span class=\"_ _0\"></span>al to the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s pos<span class=\"_ _0\"></span>ted to a ri<span class=\"_ _0\"></span>ng-fe<span class=\"_ _0\"></span>nce<span class=\"_ _0\"></span>d colla<span class=\"_ _0\"></span>teral a<span class=\"_ _0\"></span>cco<span class=\"_ _0\"></span>unt. For t<span class=\"_ _0\"></span>he Pear<span class=\"_ _0\"></span>l Sche<span class=\"_ _0\"></span>me the a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts hel<span class=\"_ _0\"></span>d by PLL sup<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ting th<span class=\"_ _0\"></span>e buy-<span class=\"_ _0\"></span>ins are n<span class=\"_ _0\"></span>ot ring<span class=\"_ _0\"></span>-fenc<span class=\"_ _0\"></span>ed and t<span class=\"_ _0\"></span>he valu<span class=\"_ _0\"></span>e has b<span class=\"_ _0\"></span>een de<span class=\"_ _0\"></span>termin<span class=\"_ _0\"></span>ed as th<span class=\"_ _0\"></span>e valu<span class=\"_ _0\"></span>e of the ins<span class=\"_ _0\"></span>uran<span class=\"_ _0\"></span>ce con<span class=\"_ _0\"></span>trac<span class=\"_ _0\"></span>t liabil<span class=\"_ _0\"></span>ity w<span class=\"_ _0\"></span>ithin th<span class=\"_ _0\"></span>e PLL fina<span class=\"_ _0\"></span>ncia<span class=\"_ _0\"></span>l state<span class=\"_ _0\"></span>ment<span class=\"_ _0\"></span>s les<span class=\"_ _0\"></span>s the val<span class=\"_ _0\"></span>ue of the a<span class=\"_ _0\"></span>sso<span class=\"_ _0\"></span>ciate<span class=\"_ _0\"></span>d rei<span class=\"_ _0\"></span>nsura<span class=\"_ _0\"></span>nce as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>. Movem<span class=\"_ _0\"></span>ents i<span class=\"_ _0\"></span>n thes<span class=\"_ _0\"></span>e finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s are refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in the c<span class=\"_ _0\"></span>onso<span class=\"_ _0\"></span>lidate<span class=\"_ _0\"></span>d inco<span class=\"_ _0\"></span>me st<span class=\"_ _0\"></span>ateme<span class=\"_ _0\"></span>nt with<span class=\"_ _0\"></span>in net inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent inc<span class=\"_ _0\"></span>ome, h<span class=\"_ _0\"></span>owever a<span class=\"_ _0\"></span>s note<span class=\"_ _0\"></span>d in the ac<span class=\"_ _0\"></span>coun<span class=\"_ _0\"></span>ting po<span class=\"_ _0\"></span>licy, th<span class=\"_ _0\"></span>e movem<span class=\"_ _0\"></span>ent in th<span class=\"_ _0\"></span>e net p<span class=\"_ _0\"></span>ensi<span class=\"_ _0\"></span>on sch<span class=\"_ _0\"></span>eme li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>y (as sh<span class=\"_ _0\"></span>own in n<span class=\"_ _0\"></span>otes G1<span class=\"_ _0\"></span>.1 and G1<span class=\"_ _0\"></span>.2) i<span class=\"_ _0\"></span>s prima<span class=\"_ _0\"></span>rily refl<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d in oth<span class=\"_ _0\"></span>er com<span class=\"_ _0\"></span>prehe<span class=\"_ _0\"></span>nsive i<span class=\"_ _0\"></span>ncom<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>Risks<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s defin<span class=\"_ _0\"></span>ed benefi<span class=\"_ _0\"></span>t schem<span class=\"_ _0\"></span>es typ<span class=\"_ _0\"></span>ically exp<span class=\"_ _0\"></span>ose the Gro<span class=\"_ _0\"></span>up to a number of risks<span class=\"_ _0\"></span>, the mo<span class=\"_ _0\"></span>st signific<span class=\"_ _0\"></span>ant of which are:<span class=\"_ _3bd\"> </span>As<span class=\"_ _0\"></span>set volatilit<span class=\"_ _0\"></span>y \u2013 the value of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>es\u2019 asset<span class=\"_ _0\"></span>s will var<span class=\"_ _0\"></span>y as market condit<span class=\"_ _0\"></span>ions chan<span class=\"_ _0\"></span>ge and as su<span class=\"_ _0\"></span>ch is subje<span class=\"_ _0\"></span>ct to con<span class=\"_ _0\"></span>siderabl<span class=\"_ _0\"></span>e v<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>latility. The<span class=\"_ gs47\"> </span>liab<span class=\"_ _0\"></span>ilities are ca<span class=\"_ _0\"></span>lculated us<span class=\"_ _0\"></span>ing a discount r<span class=\"_ _0\"></span>ate set with referen<span class=\"_ _0\"></span>ce to corp<span class=\"_ _0\"></span>orate bond yi<span class=\"_ _0\"></span>elds; if as<span class=\"_ _0\"></span>sets und<span class=\"_ _0\"></span>erper<span class=\"_ _0\"></span>form this yield<span class=\"_ _0\"></span>, this will create a d<span class=\"_ _0\"></span>eficit. The maj<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s are held wi<span class=\"_ _0\"></span>thin a liabilit<span class=\"_ _0\"></span>y driven investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy which is linked to th<span class=\"_ _0\"></span>e funding ba<span class=\"_ _0\"></span>sis of the sche<span class=\"_ _0\"></span>mes (set with refe<span class=\"_ _0\"></span>rence to governm<span class=\"_ _0\"></span>ent bond y<span class=\"_ _0\"></span>ields). As such<span class=\"_ _0\"></span>, to the exte<span class=\"_ _0\"></span>nt that moveme<span class=\"_ _0\"></span>nts in corp<span class=\"_ _0\"></span>orate bond yi<span class=\"_ _0\"></span>elds are out of line w<span class=\"_ _0\"></span>ith movement<span class=\"_ _0\"></span>s in governme<span class=\"_ _0\"></span>nt bond yield<span class=\"_ _0\"></span>s, volatilit<span class=\"_ _0\"></span>y will arise<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Inflatio<span class=\"_ _0\"></span>n risk \u2013 a signific<span class=\"_ _0\"></span>ant propor<span class=\"_ _0\"></span>tion of the s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ations are linked to inflat<span class=\"_ _0\"></span>ion, and hi<span class=\"_ _0\"></span>gher inflatio<span class=\"_ _0\"></span>n will lead to high<span class=\"_ _0\"></span>er liabilities (althou<span class=\"_ _0\"></span>gh in most c<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>, cap<span class=\"_ _0\"></span>s on the level of inflation<span class=\"_ _0\"></span>ary in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>s are in place to p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>ct aga<span class=\"_ _0\"></span>inst ex<span class=\"_ _0\"></span>treme inflati<span class=\"_ _0\"></span>on)<span class=\"_ _2\"></span>. Th<span class=\"_ _0\"></span>e majori<span class=\"_ _0\"></span>ty of the as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>re held w<span class=\"_ _0\"></span>ithin a liabilit<span class=\"_ _0\"></span>y driven investm<span class=\"_ _0\"></span>ent strate<span class=\"_ _0\"></span>gy which all<span class=\"_ _0\"></span>ows for movement<span class=\"_ _0\"></span>s in inflation<span class=\"_ _0\"></span>, meaning t<span class=\"_ _0\"></span>hat chang<span class=\"_ _0\"></span>es in inflation s<span class=\"_ _0\"></span>hould not m<span class=\"_ _0\"></span>aterially affe<span class=\"_ _0\"></span>ct the surp<span class=\"_ _0\"></span>lus.<span class=\"_ _3bd\"> </span>Life expe<span class=\"_ _0\"></span>ctanc<span class=\"_ _0\"></span>y \u2013 the maj<span class=\"_ _0\"></span>orit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>es\u2019 obligatio<span class=\"_ _0\"></span>ns are to provide be<span class=\"_ _0\"></span>nefits for the life of th<span class=\"_ _0\"></span>e member t<span class=\"_ _0\"></span>herefore incre<span class=\"_ _0\"></span>ases in life exp<span class=\"_ _0\"></span>ectan<span class=\"_ _0\"></span>cy will resul<span class=\"_ _0\"></span>t in an increas<span class=\"_ _0\"></span>e in the liabilitie<span class=\"_ _0\"></span>s. For the Pearl a<span class=\"_ _0\"></span>nd PGL s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s, this is la<span class=\"_ _0\"></span>rgely off<span class=\"_ _0\"></span>set by the bu<span class=\"_ _0\"></span>y-in policie<span class=\"_ _0\"></span>s that move in line with th<span class=\"_ _0\"></span>e liabilitie<span class=\"_ _0\"></span>s. The<span class=\"_ _0\"></span>se buy-in p<span class=\"_ _0\"></span>olicies are elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ee notes G1<span class=\"_ _0\"></span>.1 and G1.<span class=\"_ _0\"></span>2 for fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Oth<span class=\"_ _0\"></span>er risk \u2013 A Hig<span class=\"_ _0\"></span>h Cour<span class=\"_ _0\"></span>t legal r<span class=\"_ _0\"></span>uling in June 202<span class=\"_ _0\"></span>3 (Virgin M<span class=\"_ _0\"></span>edia Limited v N<span class=\"_ _0\"></span>TL P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es II Limite<span class=\"_ _0\"></span>d) decid<span class=\"_ _0\"></span>ed that ce<span class=\"_ _0\"></span>rtain r<span class=\"_ _0\"></span>ule amendm<span class=\"_ _0\"></span>ents were invalid if th<span class=\"_ _0\"></span>ey were not acc<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>d by the corre<span class=\"_ _0\"></span>ct act<span class=\"_ _0\"></span>uarial confirm<span class=\"_ _0\"></span>ation. In J<span class=\"_ _0\"></span>uly 2024, an app<span class=\"_ _0\"></span>eal by Virgin Me<span class=\"_ _0\"></span>dia Limited was d<span class=\"_ _0\"></span>ismisse<span class=\"_ _0\"></span>d by the Hig<span class=\"_ _0\"></span>h Cour<span class=\"_ _0\"></span>t, af<span class=\"_ _0\"></span>firming the initi<span class=\"_ _0\"></span>al judgme<span class=\"_ _0\"></span>nt. While the r<span class=\"_ _0\"></span>uling only ap<span class=\"_ _0\"></span>plied to the sp<span class=\"_ _0\"></span>ecific pe<span class=\"_ _0\"></span>nsion sch<span class=\"_ _0\"></span>eme in ques<span class=\"_ _0\"></span>tion, it n<span class=\"_ _0\"></span>ow forms par<span class=\"_ _0\"></span>t of case l<span class=\"_ _0\"></span>aw and c<span class=\"_ _0\"></span>an therefore be e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to apply ac<span class=\"_ _0\"></span>ross other p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s. The Gro<span class=\"_ _0\"></span>up has be<span class=\"_ _0\"></span>gun ass<span class=\"_ _0\"></span>essin<span class=\"_ _0\"></span>g the impac<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e ruling on ea<span class=\"_ _0\"></span>ch of the Group\u2019s pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>es. For the Abb<span class=\"_ _0\"></span>ey Life Sche<span class=\"_ _0\"></span>me, an exercis<span class=\"_ _0\"></span>e to update the s<span class=\"_ _0\"></span>cheme rul<span class=\"_ _0\"></span>es in 2017 identi<span class=\"_ _0\"></span>fied severa<span class=\"_ _0\"></span>l earlier rul<span class=\"_ _0\"></span>e amendme<span class=\"_ _0\"></span>nts where th<span class=\"_ _0\"></span>e correc<span class=\"_ _0\"></span>t actu<span class=\"_ _0\"></span>arial confirm<span class=\"_ _0\"></span>ation coul<span class=\"_ _0\"></span>d not be loc<span class=\"_ _0\"></span>ated. The l<span class=\"_ _0\"></span>egal ad<span class=\"_ _0\"></span>vice the S<span class=\"_ _0\"></span>cheme re<span class=\"_ _0\"></span>ceived at th<span class=\"_ _0\"></span>e time was that it w<span class=\"_ _0\"></span>as unlik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly that any of thes<span class=\"_ _0\"></span>e amendm<span class=\"_ _0\"></span>ents would lea<span class=\"_ _0\"></span>d to a retrospe<span class=\"_ _0\"></span>ctive increa<span class=\"_ _0\"></span>se in bene<span class=\"_ _0\"></span>fits. S<span class=\"_ _0\"></span>ome prec<span class=\"_ _0\"></span>aution<span class=\"_ _0\"></span>ary rem<span class=\"_ _0\"></span>edial me<span class=\"_ _0\"></span>asures were t<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>en a<span class=\"_ _0\"></span>t the time, inc<span class=\"_ _0\"></span>luding a be<span class=\"_ _0\"></span>nefit rece<span class=\"_ _0\"></span>rtific<span class=\"_ _0\"></span>ation exercis<span class=\"_ _0\"></span>e. The Group\u2019s view is tha<span class=\"_ _0\"></span>t none of thes<span class=\"_ _0\"></span>e rule amen<span class=\"_ _0\"></span>dments are s<span class=\"_ _0\"></span>ufficie<span class=\"_ _0\"></span>ntly lik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly or material to wa<span class=\"_ _0\"></span>rrant the rec<span class=\"_ _0\"></span>ognition of a p<span class=\"_ _0\"></span>otential oblig<span class=\"_ _0\"></span>ation in the con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt of financial p<span class=\"_ _0\"></span>osition at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024.<span class=\"_ _3bd\"> </span>For the Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e and the ReA<span class=\"_ _0\"></span>ssure S<span class=\"_ _0\"></span>cheme, t<span class=\"_ _0\"></span>he Group is not awa<span class=\"_ _0\"></span>re of any previous rule c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s that are suf<span class=\"_ _0\"></span>ficiently likely to war<span class=\"_ _0\"></span>rant the rec<span class=\"_ _0\"></span>ognition of a pote<span class=\"_ _0\"></span>ntial obligati<span class=\"_ _0\"></span>on at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4. T<span class=\"_ _0\"></span>he stabili<span class=\"_ _0\"></span>ty of trus<span class=\"_ _0\"></span>tees an<span class=\"_ _0\"></span>d advisor<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d leads th<span class=\"_ _0\"></span>e Group to take the pres<span class=\"_ _0\"></span>umption of regula<span class=\"_ _0\"></span>rity. This is co<span class=\"_ _0\"></span>nsistent wi<span class=\"_ _0\"></span>th legal a<span class=\"_ _0\"></span>dvice that th<span class=\"_ _0\"></span>e respe<span class=\"_ _0\"></span>ctive sche<span class=\"_ _0\"></span>mes have rec<span class=\"_ _0\"></span>eived as to wh<span class=\"_ _0\"></span>ether the T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees mu<span class=\"_ _0\"></span>st take any fur<span class=\"_ _0\"></span>ther ac<span class=\"_ _0\"></span>tion at this s<span class=\"_ _0\"></span>tage. The S<span class=\"_ _0\"></span>un Life o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada S<span class=\"_ _0\"></span>cheme w<span class=\"_ _0\"></span>as not \u2018contrac<span class=\"_ _0\"></span>ted-out<span class=\"_ _0\"></span>\u2019 over the rel<span class=\"_ _0\"></span>evant perio<span class=\"_ _0\"></span>d, so has n<span class=\"_ _0\"></span>o exposure to thi<span class=\"_ _0\"></span>s ruling. Inform<span class=\"_ _0\"></span>ation on ea<span class=\"_ _0\"></span>ch of the Group\u2019s pens<span class=\"_ _0\"></span>ion schem<span class=\"_ _0\"></span>es is set o<span class=\"_ _0\"></span>ut below.<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Pea<span class=\"_ _0\"></span>rl Grou<span class=\"_ _0\"></span>p Staf<span class=\"_ _0\"></span>f P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.1<span class=\"_ _0\"></span>.1 S<span class=\"_ _0\"></span>ch<span class=\"_ _0\"></span>em<span class=\"_ _0\"></span>e d<span class=\"_ _0\"></span>eta<span class=\"_ _0\"></span>il<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e compris<span class=\"_ _0\"></span>es a final sa<span class=\"_ _0\"></span>lary s<span class=\"_ _0\"></span>ection<span class=\"_ _0\"></span>, a money p<span class=\"_ _0\"></span>urchase s<span class=\"_ _0\"></span>ection a<span class=\"_ _0\"></span>nd a hybrid se<span class=\"_ _0\"></span>ction (a mix of final s<span class=\"_ _0\"></span>alar<span class=\"_ _0\"></span>y and mone<span class=\"_ _0\"></span>y purchas<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>). The<span class=\"_ gs47\"> </span>Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e is close<span class=\"_ _0\"></span>d to new memb<span class=\"_ _0\"></span>ers and h<span class=\"_ _0\"></span>as no ac<span class=\"_ _0\"></span>tive membe<span class=\"_ _0\"></span>rs.<span class=\"_ _3bd\"> </span>Defined be<span class=\"_ _2\"></span>nefit scheme<span class=\"_ _3bd\"> </span>The Pear<span class=\"_ _0\"></span>l Schem<span class=\"_ _0\"></span>e is est<span class=\"_ _0\"></span>ablished un<span class=\"_ _0\"></span>der<span class=\"_ _2\"></span>, an<span class=\"_ _0\"></span>d governe<span class=\"_ _0\"></span>d by<span class=\"_ _2\"></span>, the tru<span class=\"_ _0\"></span>st dee<span class=\"_ _0\"></span>ds and rule<span class=\"_ _0\"></span>s and has b<span class=\"_ _0\"></span>een fund<span class=\"_ _0\"></span>ed by payment of c<span class=\"_ _0\"></span>ontribution<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o a sep<span class=\"_ _0\"></span>arately adm<span class=\"_ _0\"></span>inistered t<span class=\"_ _0\"></span>rust fun<span class=\"_ _0\"></span>d. A Group com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>, Pearl Life H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (\u2018<span class=\"_ _0\"></span>P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>LHL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>), is from 1 Oc<span class=\"_ _0\"></span>tober 2023 th<span class=\"_ _0\"></span>e principa<span class=\"_ _0\"></span>l employer of the Pearl S<span class=\"_ _0\"></span>cheme (p<span class=\"_ _0\"></span>reviously Pea<span class=\"_ _0\"></span>rl Group Holdin<span class=\"_ _0\"></span>gs No.<span class=\"_ _0\"></span>2 Limited (\u2018<span class=\"_ _0\"></span>PGH<span class=\"_ _0\"></span>2\u2019<span class=\"_ _0\"></span>))<span class=\"_ _2\"></span>. Pe<span class=\"_ _0\"></span>LHL ass<span class=\"_ _0\"></span>umed the S<span class=\"_ _0\"></span>cheme c<span class=\"_ _0\"></span>ovenant toge<span class=\"_ _0\"></span>ther with all ob<span class=\"_ _0\"></span>ligations of th<span class=\"_ _0\"></span>e Scheme fol<span class=\"_ _2\"></span>lowing the<span class=\"_ _2\"></span> transfer<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal emp<span class=\"_ _0\"></span>loyer meet<span class=\"_ _0\"></span>s the adminis<span class=\"_ _0\"></span>tration exp<span class=\"_ _0\"></span>enses of th<span class=\"_ _0\"></span>e P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>arl Sch<span class=\"_ _0\"></span>eme. The Pea<span class=\"_ _0\"></span>rl Sche<span class=\"_ _0\"></span>me is adminis<span class=\"_ _0\"></span>tered by a sep<span class=\"_ _0\"></span>arate trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>, P<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>A<span class=\"_ _0\"></span>.<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>. (Pen<span class=\"_ _0\"></span>sions) Limited<span class=\"_ _0\"></span>, which is sep<span class=\"_ _0\"></span>arate from PeLHL<span class=\"_ _0\"></span>. The trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any is compris<span class=\"_ _0\"></span>ed of three re<span class=\"_ _0\"></span>present<span class=\"_ _0\"></span>atives from the Gro<span class=\"_ _0\"></span>up, three me<span class=\"_ _0\"></span>mber nomin<span class=\"_ _0\"></span>ated repres<span class=\"_ _0\"></span>entatives a<span class=\"_ _0\"></span>nd one inde<span class=\"_ _0\"></span>pendent t<span class=\"_ _0\"></span>rustee in a<span class=\"_ _0\"></span>ccorda<span class=\"_ _0\"></span>nce with the tr<span class=\"_ _0\"></span>ustee c<span class=\"_ _0\"></span>ompany\u2019s artic<span class=\"_ _0\"></span>les of ass<span class=\"_ _0\"></span>ociation<span class=\"_ _0\"></span>. The trus<span class=\"_ _0\"></span>tee is require<span class=\"_ _0\"></span>d by law to ac<span class=\"_ _0\"></span>t in the interes<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f all re<span class=\"_ _0\"></span>levant ben<span class=\"_ _0\"></span>eficiaries an<span class=\"_ _0\"></span>d is respon<span class=\"_ _0\"></span>sible for the inves<span class=\"_ _0\"></span>tment polic<span class=\"_ _0\"></span>y with reg<span class=\"_ _0\"></span>ard to the ass<span class=\"_ _0\"></span>ets.<span class=\"_ _3bd\"> </span>The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the Pearl S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 2024, un<span class=\"_ _0\"></span>der<span class=\"_ _0\"></span>tak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>n by qualified a<span class=\"_ _0\"></span>ctuarie<span class=\"_ _0\"></span>s. The pre<span class=\"_ _0\"></span>sent value<span class=\"_ _0\"></span>s of the defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation and th<span class=\"_ _0\"></span>e related intere<span class=\"_ _0\"></span>st cos<span class=\"_ _0\"></span>ts have be<span class=\"_ _0\"></span>en meas<span class=\"_ _0\"></span>ured using th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>ted unit cre<span class=\"_ _0\"></span>dit method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A trienn<span class=\"_ _0\"></span>ial funding va<span class=\"_ _0\"></span>luation of the Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e as at 30 Jun<span class=\"_ _0\"></span>e 2021 was co<span class=\"_ _0\"></span>mpleted in 20<span class=\"_ _0\"></span>22 by a qualified a<span class=\"_ _0\"></span>ctuar<span class=\"_ _0\"></span>y. This showe<span class=\"_ _0\"></span>d a surplus as at 30 J<span class=\"_ _0\"></span>une 2021 of \u00a367 milli<span class=\"_ _0\"></span>on, on the a<span class=\"_ _0\"></span>greed te<span class=\"_ _0\"></span>chnical p<span class=\"_ _0\"></span>rovisions ba<span class=\"_ _0\"></span>sis. The f<span class=\"_ _0\"></span>unding and I<span class=\"_ _0\"></span>FRS acc<span class=\"_ _0\"></span>ounting bas<span class=\"_ _0\"></span>es of valuation c<span class=\"_ _0\"></span>an give rise to dif<span class=\"_ _0\"></span>ferent result<span class=\"_ _0\"></span>s for a numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f re<span class=\"_ _0\"></span>asons<span class=\"_ _0\"></span>. The fund<span class=\"_ _0\"></span>ing basis of valu<span class=\"_ _0\"></span>ation is base<span class=\"_ _0\"></span>d on gen<span class=\"_ _0\"></span>eral princ<span class=\"_ _0\"></span>iples of prude<span class=\"_ _0\"></span>nce whe<span class=\"_ _0\"></span>reas the ac<span class=\"_ _0\"></span>counting va<span class=\"_ _0\"></span>luation is bas<span class=\"_ _0\"></span>ed on bes<span class=\"_ _0\"></span>t estim<span class=\"_ _0\"></span>ates. Di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>s are gilt-base<span class=\"_ _0\"></span>d for the fundin<span class=\"_ _0\"></span>g valuation wh<span class=\"_ _0\"></span>ereas the r<span class=\"_ _0\"></span>ate used for I<span class=\"_ _0\"></span>FRS valuation p<span class=\"_ _0\"></span>urpose<span class=\"_ _0\"></span>s is base<span class=\"_ _0\"></span>d on a yield c<span class=\"_ _0\"></span>urve for high q<span class=\"_ _0\"></span>uality A<span class=\"_ _0\"></span>A-rated c<span class=\"_ _0\"></span>orporate b<span class=\"_ _0\"></span>onds. In a<span class=\"_ _0\"></span>ddition<span class=\"_ _0\"></span>, the values are p<span class=\"_ _0\"></span>repared at dif<span class=\"_ _0\"></span>ferent date<span class=\"_ _0\"></span>s which will result in dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>es arising from ch<span class=\"_ _0\"></span>anges in m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions a<span class=\"_ _0\"></span>nd employer c<span class=\"_ _0\"></span>ontributions m<span class=\"_ _0\"></span>ade in the sub<span class=\"_ _0\"></span>seque<span class=\"_ _0\"></span>nt period<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls5f ws122 gs832\">Pension Scheme Commitment Agreement and<span class=\"_ _2\"></span> buy-in transac<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>ons<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs833\">On 17 Nove<span class=\"_ _0\"></span>mber 2020<span class=\"_ _0\"></span>, the Pearl Sc<span class=\"_ _0\"></span>heme ente<span class=\"_ _0\"></span>red into a Commi<span class=\"_ _0\"></span>tment Agre<span class=\"_ _0\"></span>ement with P<span class=\"_ _0\"></span>GH2 to compl<span class=\"_ _0\"></span>ete a series of bu<span class=\"_ _0\"></span>y-ins. At the s<span class=\"_ _0\"></span>ame time<span class=\"_ _0\"></span>, the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs834\">Pearl S<span class=\"_ _0\"></span>cheme c<span class=\"_ _0\"></span>ompleted th<span class=\"_ _0\"></span>e first bu<span class=\"_ _0\"></span>y-in with Phoe<span class=\"_ _0\"></span>nix Life Limited (\u2018<span class=\"_ _0\"></span>PLL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>) coverin<span class=\"_ _0\"></span>g 25% o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>ensione<span class=\"_ _0\"></span>r and deferred m<span class=\"_ _0\"></span>ember li<span class=\"_ _0\"></span>abilities<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs835\">tran<span class=\"_ _0\"></span>sferring the a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated risks<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ent risk, to PLL ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>ive from 30 Se<span class=\"_ _0\"></span>ptember 20<span class=\"_ _0\"></span>20.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs836\">T<span class=\"_ _4\"></span>wo f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r buy-in tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tions were com<span class=\"_ _0\"></span>pleted in July 2<span class=\"_ _0\"></span>021 and Oc<span class=\"_ _0\"></span>tober 202<span class=\"_ _0\"></span>1 covering 3<span class=\"_ _0\"></span>5% and 15% resp<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>ly of the Sch<span class=\"_ _0\"></span>eme\u2019s pension<span class=\"_ _0\"></span>er and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs837\">deferre<span class=\"_ _0\"></span>d membe<span class=\"_ _0\"></span>r liabilities an<span class=\"_ _0\"></span>d the final bu<span class=\"_ _0\"></span>y-in transa<span class=\"_ _0\"></span>ction was c<span class=\"_ _0\"></span>omplete<span class=\"_ _0\"></span>d in November 2<span class=\"_ _0\"></span>022. Risks<span class=\"_ _0\"></span>, includin<span class=\"_ _0\"></span>g longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ent risk, we<span class=\"_ _0\"></span>re </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs838\">tran<span class=\"_ _0\"></span>sferred to PLL ef<span class=\"_ _0\"></span>fective fro<span class=\"_ _0\"></span>m 28 May 2021 an<span class=\"_ _0\"></span>d 31 Augus<span class=\"_ _0\"></span>t 2021 and 3<span class=\"_ _0\"></span>0 Septem<span class=\"_ _0\"></span>ber 2022 re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs839\">Upon c<span class=\"_ _0\"></span>ompletion of e<span class=\"_ _0\"></span>ach buy<span class=\"_ _0\"></span>-in transa<span class=\"_ _0\"></span>ction the S<span class=\"_ _0\"></span>cheme tr<span class=\"_ _0\"></span>ansferre<span class=\"_ _0\"></span>d plan as<span class=\"_ _0\"></span>sets to PLL an<span class=\"_ _0\"></span>d these as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in the re<span class=\"_ _0\"></span>levant line within </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs83a\">finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d statem<span class=\"_ _0\"></span>ent of financia<span class=\"_ _0\"></span>l position<span class=\"_ _0\"></span>. The ec<span class=\"_ _0\"></span>onomic ef<span class=\"_ _0\"></span>fect of the bu<span class=\"_ _0\"></span>y-in trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s in the Sch<span class=\"_ _0\"></span>eme is to repla<span class=\"_ _0\"></span>ce the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs83b\">plan a<span class=\"_ _0\"></span>ssets t<span class=\"_ _0\"></span>ransferre<span class=\"_ _0\"></span>d with a singl<span class=\"_ _0\"></span>e line insuran<span class=\"_ _0\"></span>ce policy re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right as<span class=\"_ _0\"></span>set whic<span class=\"_ _0\"></span>h is subseq<span class=\"_ _0\"></span>uently elimin<span class=\"_ _0\"></span>ated on con<span class=\"_ _0\"></span>solidation<span class=\"_ _0\"></span>. The value </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs83c\">of<span class=\"_ gs47\"> </span>this insur<span class=\"_ _0\"></span>ance po<span class=\"_ _0\"></span>licy at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 was \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>358 m<span class=\"_ _0\"></span>illion (2023: \u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>50<span class=\"_ _2\"></span>7 milli<span class=\"_ _0\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs83d\">No co<span class=\"_ _0\"></span>ntributions we<span class=\"_ _0\"></span>re paid to the Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e in either the c<span class=\"_ _0\"></span>urrent or prior p<span class=\"_ _0\"></span>eriod. PeLH<span class=\"_ _0\"></span>L meet<span class=\"_ _0\"></span>s the adminis<span class=\"_ _0\"></span>trative and n<span class=\"_ _0\"></span>on-investme<span class=\"_ _0\"></span>nt running </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs83e\">expe<span class=\"_ _0\"></span>nses of the S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>s set out in th<span class=\"_ _0\"></span>e sched<span class=\"_ _0\"></span>ule of contribution<span class=\"_ _0\"></span>s (PGH2 p<span class=\"_ _0\"></span>rior to 1 Octob<span class=\"_ _0\"></span>er 2023).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs83f\">Durin<span class=\"_ _0\"></span>g 2022, the C<span class=\"_ _0\"></span>ompany rea<span class=\"_ _0\"></span>ched an a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nt for the removal of a tr<span class=\"_ _0\"></span>ustee dis<span class=\"_ _0\"></span>cretion to pay so<span class=\"_ _0\"></span>me pensio<span class=\"_ _0\"></span>n increas<span class=\"_ _0\"></span>es in exces<span class=\"_ _0\"></span>s of the 5% cap. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs840\">The tr<span class=\"_ _0\"></span>ustee ag<span class=\"_ _0\"></span>reed to give up th<span class=\"_ _0\"></span>is discretion in exc<span class=\"_ _0\"></span>hange for a s<span class=\"_ _0\"></span>ingle 1.<span class=\"_ _0\"></span>6% uplif<span class=\"_ _0\"></span>t for current pe<span class=\"_ _0\"></span>nsions in pay<span class=\"_ _0\"></span>ment effe<span class=\"_ _0\"></span>ctive from 1 April 2<span class=\"_ _0\"></span>022 and a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs841\">1.<span class=\"_ _0\"></span>3% incre<span class=\"_ _0\"></span>ase to eligib<span class=\"_ _0\"></span>le benefit<span class=\"_ _0\"></span>s of both pens<span class=\"_ _0\"></span>ion and deferre<span class=\"_ _0\"></span>d membe<span class=\"_ _0\"></span>rs effe<span class=\"_ _0\"></span>ctive from 1 April 2<span class=\"_ _0\"></span>023. In 20<span class=\"_ _0\"></span>23, the fin<span class=\"_ _0\"></span>ancial imp<span class=\"_ _0\"></span>act of the 1<span class=\"_ _0\"></span>.3% uplif<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs842\">was to re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>e an increas<span class=\"_ _0\"></span>e in the define<span class=\"_ _0\"></span>d benefit ob<span class=\"_ _0\"></span>ligation of \u00a312 m<span class=\"_ _0\"></span>illion and a pas<span class=\"_ _0\"></span>t ser<span class=\"_ _0\"></span>vice cos<span class=\"_ _0\"></span>t in the cons<span class=\"_ _0\"></span>olidated in<span class=\"_ _0\"></span>come st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls10 ws10 gs843\">Reimbu<span class=\"_ _2\"></span>rsement ri<span class=\"_ _2\"></span>ght asset<span class=\"_ _2\"></span> in respect o<span class=\"_ _2\"></span>f reinsu<span class=\"_ _2\"></span>rance arrangemen<span class=\"_ _2\"></span>ts<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs844\">As par<span class=\"_ _0\"></span>t of the third b<span class=\"_ _0\"></span>uy-in arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>, PLL entered into a qu<span class=\"_ _0\"></span>ota share rein<span class=\"_ _0\"></span>surance a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ment with ex<span class=\"_ _0\"></span>ternal rein<span class=\"_ _0\"></span>surers to rein<span class=\"_ _0\"></span>sure a total of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs845\">approxim<span class=\"_ _0\"></span>ately 91% of the li<span class=\"_ _0\"></span>abilities. A<span class=\"_ _0\"></span>s PLL expec<span class=\"_ _0\"></span>ts to use th<span class=\"_ _0\"></span>e claims re<span class=\"_ _0\"></span>ceived to pay for it<span class=\"_ _0\"></span>s obligatio<span class=\"_ _0\"></span>ns under th<span class=\"_ _0\"></span>e insuranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>t bet<span class=\"_ _0\"></span>ween it and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs846\">the Pearl S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e (i.e. to set<span class=\"_ _0\"></span>tle the define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t obligation) th<span class=\"_ _0\"></span>e reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement is c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to be a non-<span class=\"_ _0\"></span>qualify<span class=\"_ _0\"></span>ing insuran<span class=\"_ _0\"></span>ce polic<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs847\">and is c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d as a reimbur<span class=\"_ _0\"></span>sement r<span class=\"_ _0\"></span>ight. The rein<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e arrang<span class=\"_ _0\"></span>ement is exp<span class=\"_ _0\"></span>ected to m<span class=\"_ _0\"></span>atch a propor<span class=\"_ _0\"></span>tion of the defi<span class=\"_ _0\"></span>ned ben<span class=\"_ _0\"></span>efit obligati<span class=\"_ _0\"></span>on of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs848\">Pearl S<span class=\"_ _0\"></span>cheme th<span class=\"_ _0\"></span>erefore the valua<span class=\"_ _0\"></span>tion of the reimbur<span class=\"_ _0\"></span>sement r<span class=\"_ _0\"></span>ight is consis<span class=\"_ _0\"></span>tent with the va<span class=\"_ _0\"></span>luation of the as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs849\">The<span class=\"_ gs47\"> </span>val<span class=\"_ _0\"></span>ue of the reimbur<span class=\"_ _0\"></span>sement rig<span class=\"_ _0\"></span>ht asset a<span class=\"_ _0\"></span>mounted to \u00a3<span class=\"_ _0\"></span>181 million (31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023: \u00a3<span class=\"_ _0\"></span>202 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs84a\">PLL also e<span class=\"_ _0\"></span>ntered into long<span class=\"_ _0\"></span>evit<span class=\"_ _0\"></span>y swap arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s with ex<span class=\"_ _0\"></span>ternal reins<span class=\"_ _0\"></span>urers to reins<span class=\"_ _0\"></span>ure a propor<span class=\"_ _0\"></span>tion of the risks tr<span class=\"_ _0\"></span>ansferre<span class=\"_ _0\"></span>d as par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e first<span class=\"_ _0\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs84b\">se<span class=\"_ _0\"></span>cond and fo<span class=\"_ _0\"></span>urth bu<span class=\"_ _0\"></span>y-in trans<span class=\"_ _0\"></span>actions<span class=\"_ _0\"></span>. The fair va<span class=\"_ _0\"></span>lue of the reimbur<span class=\"_ _0\"></span>sement ri<span class=\"_ _0\"></span>ght liabilities am<span class=\"_ _0\"></span>ounted to \u00a33<span class=\"_ _0\"></span>4 million (31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023: \u00a33<span class=\"_ _0\"></span>4 million </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs84c\">(rest<span class=\"_ _0\"></span>ated)). F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etails of the res<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt are include<span class=\"_ _0\"></span>d in note A3.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls10 ws10 gs84d\">G1.1.2 Summary of<span class=\"_ _2\"></span> amounts recognised<span class=\"_ _2\"></span> in the consol<span class=\"_ _2\"></span>idated financial<span class=\"_ _2\"></span> statements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs84e\">The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h29 ff3 fs5 fc3 sc0 lsa4 ws9f gs84f\">2024<span class=\"_ _3bd\"> </span></div><div class=\"gs850\"><table class=\"s w94f h28b\" id=\"_dece9350-c69e-4966-85c5-b236a6fc37ef\"><tr><td></td><td class=\"t m0 x164f h29 y60f4 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y60f4 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x7c6 h29 y60f4 ff3 fs5 fc3 sc0 ls54 ws7f\">Pension<span class=\"_ _2\"></span> Scheme </td><td class=\"t m0 x1a23 h29 y60f4 ff3 fs5 fc3 sc0 ls65 wsc0\">Reimburse<span class=\"_ _0\"></span>ment </td></tr><tr><td></td><td class=\"t m0 xae5 h29 y60f5 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y60f5 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x5bf h29 y60f5 ff3 fs5 fc3 sc0 ls65 wsc0\">Liability<span class=\"_ _3bd\"> </span></td><td class=\"c x1a24 y60f6 w4f7 h28c\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4e ws48\">rights</div><div class=\"t m0 x9e5 h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x542 h29 y60f7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y60f7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y60f7 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y60f8 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60f9 w950 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a25 y60f9 w98 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a26 y60f9 w278 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a27 y60f9 w951 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1de ws1f9\">(1,<span class=\"_ _0\"></span>457<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a28 y60f9 w14e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">202<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60fa w952 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2a y60ee w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2b y60ee we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2c y60ee we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2d y60ee w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60fb w953 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry (rest<span class=\"_ _0\"></span>ated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2e y60fb w98 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2f y60fb w954 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a30 y60fb w951 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>457)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a31 y60fb w41a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60fc w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y60fc wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a33 y60fc w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(67<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a34 y60fc w955 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(65<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a35 y60fc wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y601f w956 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Incl<span class=\"_ _0\"></span>uded in profit or l<span class=\"_ _0\"></span>oss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a36 y601f w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a37 y601f w395 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>67)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a38 y601f w957 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(65<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a39 y601f wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y60fd ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y60fe w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3a y60fe w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3b y60fe w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3c y60fe w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3d y60fe w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y60ff w959 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in demo<span class=\"_ _0\"></span>graphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y60ff w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3f y60ff w95a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a40 y60ff w95a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a41 y60ff we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6100 w95b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y6100 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a43 y6100 w24e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a44 y6100 w1c1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a45 y6100 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6101 w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y6101 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a46 y6101 w4da h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a47 y6101 w4da h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a48 y6101 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6102 w95d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent in valuation of reim<span class=\"_ _0\"></span>bursem<span class=\"_ _0\"></span>ent right as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a49 y6102 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4a y6102 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4b y6102 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4c y6102 w2f6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4d y5afa w381 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19a8 y5afa wfd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4e y5afa wbd h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">112<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4f y5afa w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 w95f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rece<span class=\"_ _0\"></span>ived from insur<span class=\"_ _0\"></span>ance poli<span class=\"_ _0\"></span>cies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe28 y5c15 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5c15 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a51 y5c15 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a52 y5c15 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c4b w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a53 y5c4b w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a54 y5c4b wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a55 y5c4b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a56 y5c4b w961 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a57 y5a16 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a58 y5a16 w962 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1,<span class=\"_ _0\"></span>358)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a59 y5a16 w5f3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>310<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5a y5a16 w1af h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d3 ws1ec\">147<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gs851\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls21 ws23 gs852\">2  R<span class=\"_ _0\"></span>eimbursem<span class=\"_ _0\"></span>ent right asset \u00a318<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span> millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span> an<span class=\"_ _0\"></span>d reimburseme<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span> rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span> lia<span class=\"_ _0\"></span>bilities \u00a3(34) million (2023: \u00a32<span class=\"_ _0\"></span>02 million and \u00a3(34).<span class=\"_ _3bd\"> </span></div>2023<span class=\"_ _3bd\"> </span><table class=\"s w96d h28e\" id=\"_35972981-15ee-4acb-950e-4fc5b69cd5a7\"><tr><td></td><td class=\"t m0 x1a6d ha y610b ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> </td><td class=\"t m0 x57d ha y610b ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td class=\"t m0 x557 ha y610b ff2 fs5 fc3 sc0 ls4d wsbf\">Pension<span class=\"_ _2\"></span> Scheme </td><td class=\"t m0 x9cd ha y610b ff2 fs5 fc3 sc0 ls21 ws23\">Reimbur<span class=\"_ _0\"></span>sement </td></tr><tr><td></td><td class=\"t m0 xb79 ha y610c ff2 fs5 fc3 sc0 ls1 ws1\">of sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xa78 ha y610c ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x79a ha y610c ff2 fs5 fc3 sc0 ls21 ws23\">Liabilit<span class=\"_ _0\"></span>y </td><td class=\"c x1a24 y610d w96e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls36 ws33\">right</div><div class=\"t m0 x1a6e h174 y5af0 ff2 fs17 fc3 sc0 ls1f3 ws213\">1,2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x542 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y610e ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y610f w950 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6f y610f w1a1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a70 y610f w96f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>1,5<span class=\"_ _0\"></span>01)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a71 y610f w970 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">(1,455)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a72 y610f w51 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y60f9 w952 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c8 y60f9 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a73 y60f9 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a74 y60f9 wde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a75 y60f9 w730 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(17<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5af4 w971 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>restated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a76 y5af4 w199 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a77 y5af4 w972 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>01)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a78 y5af4 w973 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">(1,4<span class=\"_ _2\"></span>55)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a79 y5af4 w39d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">188<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y603b w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y603b wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7a y603b w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>72)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x487 y603b w974 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1de ws1f9\">(<span class=\"_ _0\"></span>70)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7b y603b wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c6e w975 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc wsb\">Past service<span class=\"_ _2\"></span> cost<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5c6e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7d y5c6e w1ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7e y5c6e w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7f y5c6e wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a66 w976 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a80 y5a66 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a81 y5a66 w4e5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(8<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a82 y5a66 w1bd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a83 y5a66 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6110 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y6111 w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a84 y6111 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a85 y6111 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a86 y6111 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a87 y6111 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5a69 w977 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y5a69 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a89 y5a69 w204 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8a y5a69 w204 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8b y5a69 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bf4 w978 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5bf4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8d y5bf4 w979 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8e y5bf4 w22c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e7 y5bf4 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c73 w97a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xperien<span class=\"_ _0\"></span>ce gain<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8f y5c73 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x54b y5c73 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a90 y5c73 wcd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a91 y5c73 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6112 w95d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent in valuation of reim<span class=\"_ _0\"></span>bursem<span class=\"_ _0\"></span>ent right as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a49 y6112 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a92 y6112 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a93 y6112 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a94 y6112 w392 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>16)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a95 y5afa wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4 y5afa w3be h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a96 y5afa w1bc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a97 y5afa w37b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">(16)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w95f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rece<span class=\"_ _0\"></span>ived from insur<span class=\"_ _0\"></span>ance poli<span class=\"_ _0\"></span>cies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe28 y5a46 wd3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a98 y5a46 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a99 y5a46 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9a y5a46 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9b y5a47 w312 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>02)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9c y5a47 w117 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">102<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9d y5a47 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9e y5a47 w925 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a57 y5a16 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a9f y5a16 w97b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa0 y5a16 w205 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,457<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa1 y5a16 wea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">168<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span>2  R<span class=\"_ _0\"></span>eimbursem<span class=\"_ _0\"></span>ent right asset \u00a3202 million an<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> reim<span class=\"_ _0\"></span>bursement rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span> liab<span class=\"_ _0\"></span>ilities \u00a3(34) million (2022: \u00a320<span class=\"_ _0\"></span>5 million and \u00a3(17) million).<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e asse<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span>The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w541 h28d\" id=\"_331f6b6e-3168-481e-b565-69b00a857abf\"><tr><td></td><td></td><td class=\"c n xed4 y6103 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y6103 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6104 ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y6104 ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y6105 ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x1a5c ha y6105 ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an a<span class=\"_ _0\"></span>ctive </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6106 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y6106 ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 ha y6106 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e ha y6106 ff2 fs5 fc3 sc0 ls9c ws97\">ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6107 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6107 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6107 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6107 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6108 w963 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa82 y6108 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5d y6108 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa80 y6108 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa81 y6108 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6109 w964 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">He<span class=\"_ _0\"></span>dge fund<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5e y6109 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaf y6109 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a5f y6109 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a60 y6109 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b48 w965 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a61 y5b48 wcd h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5b48 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a62 y5b48 w4ef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a63 y5b48 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 w966 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls10 ws10\">Reported sc<span class=\"_ _2\"></span>heme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa96 y6099 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a64 y6099 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ed y6099 w2b5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc6 ws15a\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a65 y6099 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y610a ff2 fs6 fc3 sc0 ls11 ws11\">Add back:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5b43 w967 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Insur<span class=\"_ _0\"></span>ance po<span class=\"_ _0\"></span>licies elimin<span class=\"_ _0\"></span>ated on cons<span class=\"_ _0\"></span>olidation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a66 y5b43 w968 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">1<span class=\"_ _0\"></span>,35<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a67 y5b43 w969 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">1,<span class=\"_ _0\"></span>358<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a68 y5b43 w5e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a69 y5b43 w71b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w96a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Economic value<span class=\"_ _2\"></span> of assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6a y5b4c w96b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls177 ws186\">1,40<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6b y5b4c w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">1<span class=\"_ _0\"></span>,363<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6c y5b4c w132 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">1<span class=\"_ _0\"></span>,557<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x486 y5b4c w96c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr></table>G1.1.4 Defined benefit<span class=\"_ _2\"></span> obligation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 2<span class=\"_ _0\"></span>9% (2023: 3<span class=\"_ _0\"></span>3%); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 71% (202<span class=\"_ _2\"></span>3: 67%).<span class=\"_ _3bd\"> </span></span>The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 10 ye<span class=\"_ _0\"></span>ars (2023: 1<span class=\"_ _0\"></span>3.<span class=\"_ _0\"></span>5 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars).<span class=\"_ _3bd\"> </span>Principal as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the Pea<span class=\"_ _0\"></span>rl Sche<span class=\"_ _0\"></span>me are set out in t<span class=\"_ _0\"></span>he table b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span>2024<span class=\"_ _0\"></span> %<span class=\"_ _3bd\"> </span>202<span class=\"_ _0\"></span>3 %<span class=\"_ _3bd\"> </span>Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (5% per ann<span class=\"_ _0\"></span>um or RPI if lower)<span class=\"_ _30a\"> </span><span class=\"ff3 ls1d0 ws1e9\">3.0<span class=\"_ _0\"></span>0<span class=\"_ _109\"> </span></span><span class=\"ls5b ws1f8\">2.<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></span>Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns (\u2018CPI<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>)<span class=\"_ _284\"> </span><span class=\"ff3 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.7<span class=\"_ _0\"></span>0<span class=\"_ _4b\"> </span></span><span class=\"ls1e0 ws1fb\">2.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></span>Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _30b\"> </span><span class=\"ff3 ls1d4 ws1ed\">5.55<span class=\"_ _8a\"> </span></span><span class=\"ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></span>Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _1ea\"> </span><span class=\"ff3 ls1d0 ws1e9\">3.20<span class=\"_ _4b\"> </span></span><span class=\"ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></span>Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _1d8\"> </span><span class=\"ff3 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _4b\"> </span></span><span class=\"ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></span>The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yi<span class=\"_ _0\"></span>eld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation of the Pearl S<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s liabilitie<span class=\"_ _0\"></span>s. This m<span class=\"_ _0\"></span>ethod dete<span class=\"_ _0\"></span>rmines an e<span class=\"_ _0\"></span>quivalent sing<span class=\"_ _0\"></span>le rate for eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e discount an<span class=\"_ _0\"></span>d inflation rate<span class=\"_ _0\"></span>s, which i<span class=\"_ _0\"></span>s derived from the profile of pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>ted benefi<span class=\"_ _0\"></span>t payments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs86e\">The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with a s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>-spec<span class=\"_ _0\"></span>ific table whi<span class=\"_ _0\"></span>ch was derive<span class=\"_ _0\"></span>d from the ac<span class=\"_ _0\"></span>tual mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y exper<span class=\"_ _0\"></span>ience in re<span class=\"_ _0\"></span>cent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs86f\">year<span class=\"_ _0\"></span>s based o<span class=\"_ _0\"></span>n the SAPS st<span class=\"_ _0\"></span>andard t<span class=\"_ _0\"></span>ables for mal<span class=\"_ _0\"></span>es and for fema<span class=\"_ _0\"></span>les base<span class=\"_ _0\"></span>d on year of use. Fut<span class=\"_ _0\"></span>ure longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ents from 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2017 are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs870\">bas<span class=\"_ _0\"></span>ed on ame<span class=\"_ _0\"></span>nded CM<span class=\"_ _0\"></span>I 2023 Co<span class=\"_ _0\"></span>re Projec<span class=\"_ _0\"></span>tions (2023: From 1 Ja<span class=\"_ _0\"></span>nuar<span class=\"_ _0\"></span>y 2017 base<span class=\"_ _0\"></span>d on amen<span class=\"_ _0\"></span>ded CM<span class=\"_ _0\"></span>I 2022 Core Pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>tions) and a lon<span class=\"_ _0\"></span>g-term rate </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs871\">of improveme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f 1<span class=\"_ _0\"></span>.6% (2<span class=\"_ _0\"></span>023: 1.<span class=\"_ _0\"></span>5%) per annum for m<span class=\"_ _0\"></span>ales and 1<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>% (2023: 1<span class=\"_ _0\"></span>.2%) per a<span class=\"_ _0\"></span>nnum for female<span class=\"_ _0\"></span>s. Unde<span class=\"_ _0\"></span>r these a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s, the aver<span class=\"_ _0\"></span>age life </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs872\">expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy from retirem<span class=\"_ _0\"></span>ent for a memb<span class=\"_ _0\"></span>er currently a<span class=\"_ _0\"></span>ged 4<span class=\"_ _0\"></span>0 retiring at ag<span class=\"_ _0\"></span>e 60 is 29<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 year<span class=\"_ _0\"></span>s and 30<span class=\"_ _0\"></span>.4 years for m<span class=\"_ _0\"></span>ale and femal<span class=\"_ _0\"></span>e membe<span class=\"_ _0\"></span>rs </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs873\">resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y (2023: 29<span class=\"_ _0\"></span>.0 years and 3<span class=\"_ _0\"></span>0.3 ye<span class=\"_ _0\"></span>ars resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs874\">A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span></div><div class=\"gs875\"><table class=\"s w97c h28f\" id=\"_939d2d24-dd96-4d13-9bf3-a2dc13dfe3de\"><tr><td class=\"t m0 x21a h29 y6113 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y6114 w97d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y6114 w97e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y6114 w97f h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y6114 w980 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y6115 ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y6116 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y6117 ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y6118 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa6 y5a16 w8b6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">1<span class=\"_ _0\"></span>,358<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa7 y5a16 wbb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(35)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa8 y5a16 w1f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa9 y5a16 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aaa y5a16 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x18d9 y5a16 w6d1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aab y5a16 w39f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs876\"><table class=\"s w982 h290\" id=\"_f55353ff-902f-490a-96eb-388a8bb991f1\"><tr><td class=\"t m0 x21a ha y6119 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y611a w983 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y611a w984 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y611a w985 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y611a w986 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y611b ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y611c ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y611c ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y611c ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y611d ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y611e ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aaf y5a16 w71b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>07<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab0 y5a16 w987 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>41<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab1 y5a16 w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab2 y5a16 w167 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab3 y5a16 w1ab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11e9 y5a16 w2db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab4 y5a16 w212 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>37<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs877\">The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs878\">occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs879\">ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n calcula<span class=\"_ _0\"></span>ting the define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t obligation re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs87a\">consolidated financial position.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs87b\">G1.2 PGL P<span class=\"_ _2\"></span>ension Scheme<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs87c\">In Jan<span class=\"_ _0\"></span>uary 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the trus<span class=\"_ _0\"></span>tees of the PG<span class=\"_ _0\"></span>L P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sc<span class=\"_ _0\"></span>heme co<span class=\"_ _0\"></span>mpleted the b<span class=\"_ _0\"></span>uy-ou<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e liabilities wit<span class=\"_ _0\"></span>h PLL whereby the ex<span class=\"_ _0\"></span>isting ann<span class=\"_ _0\"></span>uity </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs87d\">insur<span class=\"_ _0\"></span>ance polic<span class=\"_ _0\"></span>ies were excha<span class=\"_ _0\"></span>nged for in<span class=\"_ _0\"></span>dividual po<span class=\"_ _0\"></span>licies bet<span class=\"_ _0\"></span>ween PLL an<span class=\"_ _0\"></span>d the sch<span class=\"_ _0\"></span>eme\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s. As a res<span class=\"_ _0\"></span>ult, all the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s obli<span class=\"_ _0\"></span>gations und<span class=\"_ _0\"></span>er the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs87e\">pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me have now be<span class=\"_ _0\"></span>en fully ex<span class=\"_ _0\"></span>tinguis<span class=\"_ _0\"></span>hed. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils are include<span class=\"_ _0\"></span>d in the se<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>low<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs87f\">G1<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.1 Sch<span class=\"_ _0\"></span>eme det<span class=\"_ _0\"></span>ails<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs880\">Defined<span class=\"_ _2\"></span> contributi<span class=\"_ _2\"></span>on scheme<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs881\">On 1 Jul<span class=\"_ _0\"></span>y 2020 the Gro<span class=\"_ _0\"></span>up close<span class=\"_ _0\"></span>d the defined c<span class=\"_ _0\"></span>ontribution s<span class=\"_ _0\"></span>ectio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e PGL Sc<span class=\"_ _0\"></span>heme an<span class=\"_ _0\"></span>d cease<span class=\"_ _0\"></span>d making c<span class=\"_ _0\"></span>ontribution<span class=\"_ _0\"></span>s from this date. </div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs882\">Defined benefit<span class=\"_ _2\"></span> sc<span class=\"_ _0\"></span>heme<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs883\">The defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit sec<span class=\"_ _0\"></span>tion of the PGL Pen<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme was<span class=\"_ _0\"></span>, prior to the c<span class=\"_ _0\"></span>ompletion of the b<span class=\"_ _0\"></span>uy-ou<span class=\"_ _0\"></span>t, a final s<span class=\"_ _0\"></span>alary a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ment which wa<span class=\"_ _0\"></span>s close<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs884\">to<span class=\"_ gs47\"> </span>new entr<span class=\"_ _0\"></span>ants and h<span class=\"_ _0\"></span>ad no ac<span class=\"_ _0\"></span>tive membe<span class=\"_ _0\"></span>rs. Th<span class=\"_ _0\"></span>e Schem<span class=\"_ _0\"></span>e is adminis<span class=\"_ _0\"></span>tered by a sep<span class=\"_ _0\"></span>arate trus<span class=\"_ _0\"></span>tee compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y, PGL Pen<span class=\"_ _0\"></span>sion T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee Ltd. The t<span class=\"_ _0\"></span>rustee </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs885\">comp<span class=\"_ _0\"></span>any is compris<span class=\"_ _0\"></span>ed of two re<span class=\"_ _0\"></span>present<span class=\"_ _0\"></span>atives from the Gro<span class=\"_ _0\"></span>up, three me<span class=\"_ _0\"></span>mber nom<span class=\"_ _0\"></span>inated repre<span class=\"_ _0\"></span>sentative<span class=\"_ _0\"></span>s and one ind<span class=\"_ _0\"></span>epende<span class=\"_ _0\"></span>nt truste<span class=\"_ _0\"></span>e in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs886\">acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any\u2019<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>ticles of a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ation. The t<span class=\"_ _0\"></span>rustee i<span class=\"_ _0\"></span>s required by law to a<span class=\"_ _0\"></span>ct in the interes<span class=\"_ _0\"></span>t of all relevant be<span class=\"_ _0\"></span>neficiarie<span class=\"_ _0\"></span>s and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs887\">was res<span class=\"_ _0\"></span>ponsible fo<span class=\"_ _0\"></span>r the day-to-d<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>dministra<span class=\"_ _0\"></span>tion of the ben<span class=\"_ _0\"></span>efits. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs888\">A trienn<span class=\"_ _0\"></span>ial funding va<span class=\"_ _0\"></span>luation of the PG<span class=\"_ _0\"></span>L Pension S<span class=\"_ _0\"></span>cheme as at 3<span class=\"_ _0\"></span>0 June 20<span class=\"_ _0\"></span>21 was comp<span class=\"_ _0\"></span>leted in 2022 by a qu<span class=\"_ _0\"></span>alified ac<span class=\"_ _0\"></span>tuar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Thi<span class=\"_ _0\"></span>s showed a surp<span class=\"_ _0\"></span>lus </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs889\">as<span class=\"_ gs47\"> </span>at 3<span class=\"_ _0\"></span>0 June 2021 of \u00a3<span class=\"_ _0\"></span>2 million. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs88a\">Durin<span class=\"_ _0\"></span>g the perio<span class=\"_ _0\"></span>d, the tru<span class=\"_ _0\"></span>stees of the P<span class=\"_ _0\"></span>GL Pension S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e complete<span class=\"_ _0\"></span>d the buy-<span class=\"_ _0\"></span>out of the sch<span class=\"_ _0\"></span>eme liabilitie<span class=\"_ _0\"></span>s with PLL where<span class=\"_ _0\"></span>by the existin<span class=\"_ _0\"></span>g annuit<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs88b\">insur<span class=\"_ _0\"></span>ance polic<span class=\"_ _0\"></span>ies bet<span class=\"_ _0\"></span>ween the t<span class=\"_ _0\"></span>wo par<span class=\"_ _0\"></span>ties were exc<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>d for individual p<span class=\"_ _0\"></span>olicies b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n PLL and the sc<span class=\"_ _0\"></span>heme\u2019s memb<span class=\"_ _0\"></span>ers. A<span class=\"_ _0\"></span>s a result, a<span class=\"_ _0\"></span>ll the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs88c\">Group\u2019s obliga<span class=\"_ _0\"></span>tions under th<span class=\"_ _0\"></span>e pensio<span class=\"_ _0\"></span>n schem<span class=\"_ _0\"></span>e have now bee<span class=\"_ _0\"></span>n fully extin<span class=\"_ _0\"></span>guishe<span class=\"_ _0\"></span>d and the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n as at the set<span class=\"_ _0\"></span>tleme<span class=\"_ _0\"></span>nt date of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs88d\">\u00a31<span class=\"_ _0\"></span>,097 million<span class=\"_ _0\"></span>, reimbur<span class=\"_ _0\"></span>sement ri<span class=\"_ _0\"></span>ght asse<span class=\"_ _0\"></span>ts of \u00a311 million an<span class=\"_ _0\"></span>d reimburs<span class=\"_ _0\"></span>ement right li<span class=\"_ _0\"></span>abilities of \u00a345 million were de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nised. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs88e\">An addi<span class=\"_ _0\"></span>tional premi<span class=\"_ _0\"></span>um (in excess of the v<span class=\"_ _0\"></span>alue of the collate<span class=\"_ _0\"></span>ral ass<span class=\"_ _0\"></span>ets tran<span class=\"_ _0\"></span>sferred as p<span class=\"_ _0\"></span>remium for the orig<span class=\"_ _0\"></span>inal buy<span class=\"_ _0\"></span>-in transac<span class=\"_ _0\"></span>tions) of \u00a31<span class=\"_ _0\"></span>8 million was </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs88f\">prepa<span class=\"_ _0\"></span>id by the Sch<span class=\"_ _0\"></span>eme to PLL in 2023 an<span class=\"_ _0\"></span>d has be<span class=\"_ _0\"></span>en reco<span class=\"_ _0\"></span>gnised up<span class=\"_ _0\"></span>on complet<span class=\"_ _0\"></span>ion of the set<span class=\"_ _0\"></span>tlement<span class=\"_ _0\"></span>. The dif<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rence be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n the defined b<span class=\"_ _0\"></span>enefit </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs890\">oblig<span class=\"_ _0\"></span>ation and as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d reimburs<span class=\"_ _0\"></span>ement rig<span class=\"_ _0\"></span>hts at this date an<span class=\"_ _0\"></span>d the total prem<span class=\"_ _0\"></span>ium paid resulte<span class=\"_ _0\"></span>d in a loss on s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of \u00a320<span class=\"_ _0\"></span>8 million being </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs891\">rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>tration exp<span class=\"_ _0\"></span>enses in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome sta<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ment. Thi<span class=\"_ _0\"></span>s loss refle<span class=\"_ _0\"></span>cts th<span class=\"_ _0\"></span>e differen<span class=\"_ _0\"></span>ce bet<span class=\"_ _0\"></span>ween the m<span class=\"_ _0\"></span>easurem<span class=\"_ _0\"></span>ent basis </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs892\">for the liab<span class=\"_ _0\"></span>ilities as pres<span class=\"_ _0\"></span>cribe<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y IA<span class=\"_ _0\"></span>S 19 and th<span class=\"_ _0\"></span>e value pres<span class=\"_ _0\"></span>cribed for th<span class=\"_ _0\"></span>e buy-o<span class=\"_ _0\"></span>ut transfe<span class=\"_ _0\"></span>r in the origina<span class=\"_ _0\"></span>l buy-in agre<span class=\"_ _0\"></span>ement wh<span class=\"_ _0\"></span>ich is primaril<span class=\"_ _0\"></span>y based </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs893\">on coll<span class=\"_ _0\"></span>ateral determ<span class=\"_ _0\"></span>ined using th<span class=\"_ _0\"></span>e best e<span class=\"_ _0\"></span>stimate as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f PLL a<span class=\"_ _0\"></span>nd the risk ma<span class=\"_ _0\"></span>rgin asso<span class=\"_ _0\"></span>ciated with t<span class=\"_ _0\"></span>hose liabilit<span class=\"_ _0\"></span>ies on a Solve<span class=\"_ _0\"></span>ncy II b<span class=\"_ _0\"></span>asis. O<span class=\"_ _0\"></span>n </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs894\">comp<span class=\"_ _0\"></span>letion of the buy<span class=\"_ _0\"></span>-out<span class=\"_ _0\"></span>, the Sch<span class=\"_ _0\"></span>eme held m<span class=\"_ _0\"></span>inimal residu<span class=\"_ _0\"></span>al asset<span class=\"_ _0\"></span>s which were us<span class=\"_ _0\"></span>ed during th<span class=\"_ _0\"></span>e period to c<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r wind-up exp<span class=\"_ _0\"></span>enses<span class=\"_ _0\"></span>. Furthe<span class=\"_ _0\"></span>r details </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs895\">of the full imp<span class=\"_ _0\"></span>act of the bu<span class=\"_ _0\"></span>y-out tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion are inclu<span class=\"_ _0\"></span>ded in note B1<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs896\">Insurance policies<span class=\"_ _2\"></span> with Group enti<span class=\"_ _2\"></span>ties and reinsurance<span class=\"_ _2\"></span> arrangements<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs897\">Prior to co<span class=\"_ _0\"></span>mpletion of the b<span class=\"_ _0\"></span>uy-out<span class=\"_ _0\"></span>, the PGL Pen<span class=\"_ _0\"></span>sion Sch<span class=\"_ _0\"></span>eme com<span class=\"_ _0\"></span>pleted t<span class=\"_ _0\"></span>wo buy-in tra<span class=\"_ _0\"></span>nsact<span class=\"_ _0\"></span>ions. Th<span class=\"_ _0\"></span>e plan as<span class=\"_ _0\"></span>sets tran<span class=\"_ _0\"></span>sferred to PLL a<span class=\"_ _0\"></span>s premium </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs898\">were he<span class=\"_ _0\"></span>ld in a collatera<span class=\"_ _0\"></span>l account a<span class=\"_ _0\"></span>nd reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e relevant line with<span class=\"_ _0\"></span>in financial a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s in the state<span class=\"_ _0\"></span>ment of cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial po<span class=\"_ _0\"></span>sition. Th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs899\">ec<span class=\"_ _0\"></span>onomic ef<span class=\"_ _0\"></span>fect of thes<span class=\"_ _0\"></span>e trans<span class=\"_ _0\"></span>actions in t<span class=\"_ _0\"></span>he Sche<span class=\"_ _0\"></span>me was to repla<span class=\"_ _0\"></span>ce the plan a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s transfe<span class=\"_ _0\"></span>rred with a sing<span class=\"_ _0\"></span>le line insura<span class=\"_ _0\"></span>nce polic<span class=\"_ _0\"></span>y reimburs<span class=\"_ _0\"></span>ement </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs89a\">as<span class=\"_ _0\"></span>set which was e<span class=\"_ _0\"></span>liminated on c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>tion along with t<span class=\"_ _0\"></span>he relevant ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract lia<span class=\"_ _0\"></span>bilities in PLL. Th<span class=\"_ _0\"></span>e value of the ins<span class=\"_ _0\"></span>urance po<span class=\"_ _0\"></span>licies with </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs89b\">Group e<span class=\"_ _0\"></span>ntities at 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 is \u00a3nil (2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>,093 m<span class=\"_ _0\"></span>illion)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs89c\">Durin<span class=\"_ _0\"></span>g 2023, \u00a3<span class=\"_ _0\"></span>18 million of s<span class=\"_ _0\"></span>cheme as<span class=\"_ _0\"></span>sets we<span class=\"_ _0\"></span>re transfer<span class=\"_ _0\"></span>red to PLL as premi<span class=\"_ _0\"></span>um f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the buy-<span class=\"_ _0\"></span>out trans<span class=\"_ _0\"></span>action wh<span class=\"_ _0\"></span>ich comple<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d in Januar<span class=\"_ _0\"></span>y 2024. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs89d\">At<span class=\"_ gs47\"> </span>31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, a de<span class=\"_ _0\"></span>btor of \u00a318 millio<span class=\"_ _0\"></span>n to reflect th<span class=\"_ _0\"></span>e prepayme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f thi<span class=\"_ _0\"></span>s premium was elim<span class=\"_ _0\"></span>inated on co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs89e\">PLL entere<span class=\"_ _0\"></span>d into longevit<span class=\"_ _0\"></span>y swap a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ments wit<span class=\"_ _0\"></span>h extern<span class=\"_ _0\"></span>al reinsurer<span class=\"_ _0\"></span>s to reinsure a prop<span class=\"_ _0\"></span>ortion of th<span class=\"_ _0\"></span>e risks trans<span class=\"_ _0\"></span>ferred as pa<span class=\"_ _0\"></span>rt of both th<span class=\"_ _0\"></span>e buy-in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs89f\">tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns. The f<span class=\"_ _0\"></span>air value of the reimb<span class=\"_ _0\"></span>ursem<span class=\"_ _0\"></span>ent right liabilitie<span class=\"_ _0\"></span>s amounted to \u00a3nil (31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023: \u00a3<span class=\"_ _0\"></span>34 million (res<span class=\"_ _0\"></span>tated)). Furth<span class=\"_ _0\"></span>er details of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8a0\">res<span class=\"_ _0\"></span>tatement are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>ote A3.<span class=\"_ _3bd\"> </span></div>The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w988 h291\" id=\"_bffcc74f-f71d-41cf-9e08-40b24e3e0f4e\"><tr><td></td><td class=\"t m0 x164f h29 y611f ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y611f ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x557 h29 y611f ff3 fs5 fc3 sc0 ls54 ws7f\">Pension<span class=\"_ _2\"></span> scheme </td><td class=\"t m0 x1a23 h29 y611f ff3 fs5 fc3 sc0 ls65 wsc0\">Reimburse<span class=\"_ _0\"></span>ment </td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6120 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6120 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x7a7 h29 y6120 ff3 fs5 fc3 sc0 ls65 wsc0\">liability </td><td class=\"t m0 x540 h29 y6120 ff3 fs5 fc3 sc0 ls4e ws48\">right<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y6121 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6121 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a69 w950 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab5 y5a69 w96 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab6 y5a69 w2f3 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab7 y5a69 w5e7 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab8 y5a69 we9 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6100 w952 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2a y5bf4 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2b y5bf4 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2c y5bf4 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2d y5bf4 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6122 w971 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>restated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab9 y6122 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aba y6122 w24d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abb y6122 w989 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>091<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abc y6122 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e38 w79 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y5e38 w37a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abe y5e38 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abf y5e38 w37a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac0 y5e38 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c5a w98a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent gain<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xaaa y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac1 y5c5a w3da h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac2 y5c5a w5e3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac3 y5c5a w1f8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5aca w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac4 y5aca w250 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac5 y5aca w5e3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac6 y5aca w80b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac7 y5aca w135 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac8 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac9 y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aca y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acb y5a16 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.Re<span class=\"_ _0\"></span>imbur<span class=\"_ _0\"></span>sem<span class=\"_ _0\"></span>ent rig<span class=\"_ _0\"></span>ht ass<span class=\"_ _0\"></span>et \u00a311 m<span class=\"_ _0\"></span>illion a<span class=\"_ _0\"></span>nd reim<span class=\"_ _0\"></span>burs<span class=\"_ _0\"></span>ement r<span class=\"_ _0\"></span>ight<span class=\"_ _0\"></span>s liabil<span class=\"_ _0\"></span>ity \u00a3(4<span class=\"_ _0\"></span>5) mil<span class=\"_ _0\"></span>lion.<span class=\"_ _3bd\"> </span><table class=\"s w98b h292\" id=\"_8eac15e9-e352-4ec3-9b7b-8342edd828a8\"><tr><td></td><td class=\"t m0 xac4 ha y6123 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> of </td><td class=\"t m0 x57d ha y6123 ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td class=\"t m0 x53f ha y6123 ff2 fs5 fc3 sc0 ls4d wsbf\">Pension<span class=\"_ _2\"></span> scheme </td><td class=\"t m0 x9cd ha y6123 ff2 fs5 fc3 sc0 ls21 ws23\">Reimbur<span class=\"_ _0\"></span>sement </td></tr><tr><td></td><td class=\"t m0 xac1 ha y6124 ff2 fs5 fc3 sc0 ls10c ws10d\">scheme assets<span class=\"_ _2\"></span> </td><td class=\"t m0 xa78 ha y6124 ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x5c1 ha y6124 ff2 fs5 fc3 sc0 ls21 ws23\">liabilit<span class=\"_ _0\"></span>y </td><td class=\"t m0 xdaf ha y6124 ff2 fs5 fc3 sc0 ls36 ws33\">right<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a ha y6125 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6125 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a61 w950 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>s repor<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a6f y5a61 w98c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acc y5a61 w313 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>83)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acd y5a61 w98d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">(1,056)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ace y5a61 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6126 w952 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Rest<span class=\"_ _0\"></span>atement</div><div class=\"t m0 x1a29 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8c8 y6126 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a73 y6126 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a74 y6126 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a75 y6126 w34f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6127 w971 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>restated)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acf y6127 wf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad0 y6127 w43a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>08<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad1 y6127 w98e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">(1,056)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad2 y6127 w23e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a64 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y5a64 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad3 y5a64 w98f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad4 y5a64 w979 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad5 y5a64 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6128 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad6 y6128 w990 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad7 y6128 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad8 y6128 w5b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7b8 y6128 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6129 w976 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad9 y6129 w518 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ada y6129 w98f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(52<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1adb y6129 wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>54)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1adc y6129 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y612a ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y612b w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3a y612b w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1add y612b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ade y612b wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1adf y612b wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y612c w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y612c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a89 y612c w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e8 y612c w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae0 y612c wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd6 w978 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8d y5bd6 w991 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae1 y5bd6 w6c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae2 y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb2 w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae3 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae4 y5bb2 w72f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae5 y5bb2 w72f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae6 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6122 w992 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent in valuation of reim<span class=\"_ _0\"></span>bursem<span class=\"_ _0\"></span>ent right as<span class=\"_ _0\"></span>set/lia<span class=\"_ _0\"></span>bility<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae7 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae8 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae9 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa1b y6122 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 w993 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls13 ws13\">Included in o<span class=\"_ _2\"></span>ther comprehensive i<span class=\"_ _2\"></span>ncom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aea y5c48 wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aeb y5c48 w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aec y5c48 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aed y5c48 w1bc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w95f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>ome rece<span class=\"_ _0\"></span>ived from insur<span class=\"_ _0\"></span>ance poli<span class=\"_ _0\"></span>cies<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aee y5a45 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aef y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x525 y5a45 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af0 y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5a46 w1aa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(69)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af2 y5a46 w1f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">69<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af3 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af4 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w994 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>sets tra<span class=\"_ _0\"></span>nsferred a<span class=\"_ _0\"></span>s premium for sc<span class=\"_ _0\"></span>heme bu<span class=\"_ _0\"></span>y-out<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af5 y5a47 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af6 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af7 y5a47 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(18)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af8 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w995 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">At 3<span class=\"_ _2\"></span>1 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa82 y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af9 y5a16 w996 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>097<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x227 y5a16 w327 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>91)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afa y5a16 wb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>34)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>. Reim<span class=\"_ _0\"></span>burs<span class=\"_ _0\"></span>ement r<span class=\"_ _0\"></span>ight<span class=\"_ _0\"></span>s asse<span class=\"_ _0\"></span>t \u00a312 mi<span class=\"_ _0\"></span>llion an<span class=\"_ _0\"></span>d reimb<span class=\"_ _0\"></span>urse<span class=\"_ _0\"></span>ment r<span class=\"_ _0\"></span>ight lia<span class=\"_ _0\"></span>bilit<span class=\"_ _0\"></span>y \u00a3(33<span class=\"_ _0\"></span>) milli<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>ets<span class=\"_ _3bd\"> </span>The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w541 h293\" id=\"_e4c52090-8c0e-4624-9e1e-06c2b5f76adf\"><tr><td></td><td></td><td class=\"c n xed4 y612d w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y612d w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y612e ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y612e ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y612f ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x1a5c ha y612f ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an a<span class=\"_ _0\"></span>ctive </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6130 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y6130 ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 ha y6130 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e ha y6130 ff2 fs5 fc3 sc0 ls9c ws97\">ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6131 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6131 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6131 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6131 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6132 w965 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x650 y6132 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afb y6132 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afc y6132 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa8d y6132 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 w997 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Reported scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afd y6099 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa83 y6099 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1afe y6099 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16f8 y6099 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c34 w998 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Add: Ins<span class=\"_ _0\"></span>urance p<span class=\"_ _0\"></span>olicies elimin<span class=\"_ _0\"></span>ated on con<span class=\"_ _0\"></span>solidation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y5c34 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aff y5c34 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b00 y5c34 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,093<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b01 y5c34 w549 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">1<span class=\"_ _0\"></span>,093<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b43 w946 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts due from sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y eliminated on c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b02 y5b43 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b03 y5b43 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b04 y5b43 w390 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b05 y5b43 w390 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">18<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w999 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Economic value of<span class=\"_ _2\"></span> as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b06 y5b4c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b07 y5b4c we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b08 y5b4c w99a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">1<span class=\"_ _1\"></span>,1<span class=\"_ _0\"></span>17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b09 y5b4c w99b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,111<span class=\"_ _3bd\"> </span></div></td></tr></table>G1.<span class=\"_ _0\"></span>2.4 Defined benefit<span class=\"_ _2\"></span> obligation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: nil% (20<span class=\"_ _0\"></span>23: 36<span class=\"_ _0\"></span>%); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> nil% (<span class=\"_ _2\"></span>2023: 64%<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></span>The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>23 was 13.<span class=\"_ _0\"></span>5 years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Principal assumptions<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal as<span class=\"_ _0\"></span>sumptions of th<span class=\"_ _0\"></span>e PGL Pension S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e as at 31 De<span class=\"_ _0\"></span>cember 2<span class=\"_ _0\"></span>023 are set out b<span class=\"_ _0\"></span>elow.<span class=\"_ _3bd\"> </span><table class=\"s w99c h294\" id=\"_4d2e82c5-1bfa-49d4-b709-d5e4dd6d6fcd\"><tr><td></td><td class=\"t m0 x1ce h29 y6133 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"t m0 x1cd ha y6133 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x56c h29 y6134 ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x56d ha y6134 ff2 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae5 w99d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (7<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>5% per annum o<span class=\"_ _0\"></span>r RPI if lower)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0a y5ae5 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1398 y5ae5 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w99f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns (\u2018CPI<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5c5 y5b29 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0b y5b29 w9a0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 w9a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0c y5ae6 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0d y5ae6 w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w9a2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0e y5a15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b0f y5a15 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.<span class=\"_ _0\"></span>10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70c y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x129f y5a16 w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr></table>The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yie<span class=\"_ _0\"></span>ld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span>of the PG<span class=\"_ _0\"></span>L P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sc<span class=\"_ _0\"></span>heme\u2019s liabilities<span class=\"_ _0\"></span>. This meth<span class=\"_ _0\"></span>od determin<span class=\"_ _0\"></span>es an equiva<span class=\"_ _0\"></span>lent single r<span class=\"_ _0\"></span>ate for each of the dis<span class=\"_ _0\"></span>count and infl<span class=\"_ _0\"></span>ation rates<span class=\"_ _0\"></span>, which is<span class=\"_ _3bd\"> </span>derive<span class=\"_ _0\"></span>d from the profile of pro<span class=\"_ _0\"></span>jecte<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ayments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with 8<span class=\"_ _0\"></span>6%/94% of S<span class=\"_ _0\"></span>1P Light bas<span class=\"_ _0\"></span>e tables for m<span class=\"_ _0\"></span>ales and fem<span class=\"_ _0\"></span>ales<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span>in 2023 were f<span class=\"_ _0\"></span>rom 1 Januar<span class=\"_ _0\"></span>y 2021 b<span class=\"_ _0\"></span>ased on am<span class=\"_ _0\"></span>ende<span class=\"_ _0\"></span>d CMI 202<span class=\"_ _0\"></span>2 Core Proje<span class=\"_ _0\"></span>ctions w<span class=\"_ _0\"></span>ith a long-term r<span class=\"_ _0\"></span>ate of improvement of 1<span class=\"_ _0\"></span>.5% per an<span class=\"_ _0\"></span>num for<span class=\"_ _3bd\"> </span>male<span class=\"_ _0\"></span>s and 1.<span class=\"_ _0\"></span>2% pe<span class=\"_ _0\"></span>r annum for female<span class=\"_ _0\"></span>s. Und<span class=\"_ _0\"></span>er these a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>ns, the aver<span class=\"_ _0\"></span>age life expe<span class=\"_ _0\"></span>ctan<span class=\"_ _0\"></span>cy from retirem<span class=\"_ _0\"></span>ent for a memb<span class=\"_ _0\"></span>er currently a<span class=\"_ _0\"></span>ged 4<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span>retiring at a<span class=\"_ _0\"></span>ge 62 was 27.4 years an<span class=\"_ _0\"></span>d 28.<span class=\"_ _0\"></span>8 years for ma<span class=\"_ _0\"></span>le and female m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s respe<span class=\"_ _0\"></span>ctively.<span class=\"_ _3bd\"> </span>A quantit<span class=\"_ _0\"></span>ative sensi<span class=\"_ _0\"></span>tivity a<span class=\"_ _0\"></span>nalysis for sig<span class=\"_ _0\"></span>nificant ac<span class=\"_ _0\"></span>tuarial a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>ns as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023 is shown b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span><table class=\"s w982 h295\" id=\"_90bd9a0d-1977-4383-b008-7dc43387d46f\"><tr><td class=\"t m0 x21a ha y6135 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y6136 w983 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6136 w984 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6136 w985 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6136 w986 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y6137 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y6138 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y6138 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y6138 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y6139 ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y613a ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aaf y5b4c w2b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b10 y5b4c w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b11 y5b4c wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b12 y5b4c w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b13 y5b4c w23e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b14 y5b4c w9a4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x470 y5b4c w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">(<span class=\"_ _0\"></span>31<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to<span class=\"_ _3bd\"> </span>occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant<span class=\"_ _3bd\"> </span>ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n calcula<span class=\"_ _0\"></span>ting the define<span class=\"_ _0\"></span>d benefi<span class=\"_ _0\"></span>t obligation re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of<span class=\"_ _3bd\"> </span>consolidated financial position.<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.3 Abb<span class=\"_ _0\"></span>ey Life Staf<span class=\"_ _0\"></span>f Pensi<span class=\"_ _0\"></span>on Sch<span class=\"_ _0\"></span>eme<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e deta<span class=\"_ _0\"></span>ils<span class=\"_ _3bd\"> </span>The Ab<span class=\"_ _0\"></span>bey Life Sche<span class=\"_ _0\"></span>me is a regi<span class=\"_ _0\"></span>stered o<span class=\"_ _0\"></span>ccupation<span class=\"_ _0\"></span>al pensi<span class=\"_ _0\"></span>on schem<span class=\"_ _0\"></span>e, set up unde<span class=\"_ _0\"></span>r trust<span class=\"_ _0\"></span>, and leg<span class=\"_ _0\"></span>ally sepa<span class=\"_ _0\"></span>rate from its pr<span class=\"_ _0\"></span>incipal emp<span class=\"_ _0\"></span>loyer PeLHL.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>cheme is a<span class=\"_ _0\"></span>dministere<span class=\"_ _0\"></span>d by Abbey Life T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust Se<span class=\"_ _0\"></span>curities Lim<span class=\"_ _0\"></span>ited (the trus<span class=\"_ _0\"></span>tee), a corpor<span class=\"_ _0\"></span>ate truste<span class=\"_ _0\"></span>e. There are th<span class=\"_ _0\"></span>ree trus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e director<span class=\"_ _0\"></span>s, on<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f wh<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span>is nomin<span class=\"_ _0\"></span>ated by the Abb<span class=\"_ _0\"></span>ey Life Sche<span class=\"_ _0\"></span>me memb<span class=\"_ _0\"></span>ers and t<span class=\"_ _0\"></span>wo of whom are ap<span class=\"_ _0\"></span>pointed by PeLHL<span class=\"_ _0\"></span>. The trus<span class=\"_ _0\"></span>tee is resp<span class=\"_ _0\"></span>onsible for a<span class=\"_ _0\"></span>dministerin<span class=\"_ _0\"></span>g the<span class=\"_ _3bd\"> </span>sch<span class=\"_ _0\"></span>eme in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the trus<span class=\"_ _0\"></span>t deed an<span class=\"_ _0\"></span>d rules an<span class=\"_ _0\"></span>d pension<span class=\"_ _0\"></span>s laws and re<span class=\"_ _0\"></span>gulations<span class=\"_ _0\"></span>. The Abb<span class=\"_ _0\"></span>ey Life Schem<span class=\"_ _0\"></span>e is close<span class=\"_ _0\"></span>d to new entrant<span class=\"_ _0\"></span>s and has<span class=\"_ _3bd\"> </span>no ac<span class=\"_ _0\"></span>tive memb<span class=\"_ _0\"></span>ers.<span class=\"_ _3bd\"> </span>The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the Abbe<span class=\"_ _0\"></span>y Li<span class=\"_ _2\"></span>fe S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 unde<span class=\"_ _0\"></span>rtaken by ind<span class=\"_ _0\"></span>epende<span class=\"_ _0\"></span>nt<span class=\"_ _3bd\"> </span>qualifie<span class=\"_ _0\"></span>d actu<span class=\"_ _0\"></span>aries. T<span class=\"_ _0\"></span>he prese<span class=\"_ _0\"></span>nt values of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n and the relate<span class=\"_ _0\"></span>d interest c<span class=\"_ _0\"></span>osts h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een me<span class=\"_ _0\"></span>asured usin<span class=\"_ _0\"></span>g the proj<span class=\"_ _0\"></span>ected uni<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span>credi<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Funding<span class=\"_ _3bd\"> </span>The la<span class=\"_ _0\"></span>st fundin<span class=\"_ _0\"></span>g valuation of the Ab<span class=\"_ _0\"></span>bey Life Sch<span class=\"_ _0\"></span>eme was c<span class=\"_ _0\"></span>arried out by a q<span class=\"_ _0\"></span>ualified ac<span class=\"_ _0\"></span>tuar<span class=\"_ _0\"></span>y as at 31 Marc<span class=\"_ _0\"></span>h 2021 and s<span class=\"_ _0\"></span>howed a deficit of \u00a3<span class=\"_ _0\"></span>86 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The f<span class=\"_ _0\"></span>unding valuati<span class=\"_ _0\"></span>on as at 31 Marc<span class=\"_ _0\"></span>h 202<span class=\"_ _2\"></span>4 was in p<span class=\"_ _0\"></span>rogres<span class=\"_ _0\"></span>s as at the end of th<span class=\"_ _0\"></span>e y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar and will be fin<span class=\"_ _0\"></span>alised dur<span class=\"_ _0\"></span>ing 2025. Fo<span class=\"_ _0\"></span>llowing comp<span class=\"_ _0\"></span>letion of the<span class=\"_ _3bd\"> </span>fundin<span class=\"_ _0\"></span>g valuation a re<span class=\"_ _0\"></span>covery p<span class=\"_ _0\"></span>lan was agre<span class=\"_ _0\"></span>ed bet<span class=\"_ _0\"></span>ween t<span class=\"_ _0\"></span>he Group and th<span class=\"_ _0\"></span>e truste<span class=\"_ _0\"></span>e of the Abbey Life S<span class=\"_ _0\"></span>cheme for PeLH<span class=\"_ _0\"></span>L to pay monthly<span class=\"_ _3bd\"> </span>contrib<span class=\"_ _0\"></span>utions of \u00a3400<span class=\"_ _0\"></span>,00<span class=\"_ _0\"></span>0 into the Sch<span class=\"_ _0\"></span>eme until 31 July 2<span class=\"_ _0\"></span>025 to eliminate th<span class=\"_ _0\"></span>e funding sh<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>fall. In ad<span class=\"_ _0\"></span>dition, th<span class=\"_ _0\"></span>e entire balan<span class=\"_ _0\"></span>ce of the 2013 Ch<span class=\"_ _0\"></span>arged<span class=\"_ _3bd\"> </span>Acc<span class=\"_ _0\"></span>ount of \u00a3<span class=\"_ _2\"></span>42 million wa<span class=\"_ _0\"></span>s paid to the S<span class=\"_ _0\"></span>cheme in D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2021<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>A new s<span class=\"_ _0\"></span>chedule of co<span class=\"_ _0\"></span>ntributions w<span class=\"_ _0\"></span>as agree<span class=\"_ _0\"></span>d effec<span class=\"_ _0\"></span>tive from Novemb<span class=\"_ _0\"></span>er 2021<span class=\"_ _0\"></span>, for PeLHL to pay th<span class=\"_ _0\"></span>e f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>llowing amount<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of deficit<span class=\"_ _3bd\"> </span>contrib<span class=\"_ _0\"></span>utions in ad<span class=\"_ _0\"></span>dition to the amo<span class=\"_ _0\"></span>unts payable un<span class=\"_ _0\"></span>der the rec<span class=\"_ _0\"></span>overy pl<span class=\"_ _0\"></span>an:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>fixe<span class=\"_ _0\"></span>d monthly co<span class=\"_ _0\"></span>ntributions of \u00a340<span class=\"_ _0\"></span>0,00<span class=\"_ _0\"></span>0 payable fro<span class=\"_ _0\"></span>m 1 August 2<span class=\"_ _0\"></span>025 to 30 Jun<span class=\"_ _0\"></span>e 2026;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>mo<span class=\"_ _0\"></span>nthly contribu<span class=\"_ _0\"></span>tions in resp<span class=\"_ _0\"></span>ect of admini<span class=\"_ _0\"></span>stration ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s of \u00a310<span class=\"_ _0\"></span>6,<span class=\"_ _0\"></span>295 p<span class=\"_ _0\"></span>ayable up to 31 Marc<span class=\"_ _0\"></span>h 2022, the<span class=\"_ _0\"></span>n increasin<span class=\"_ _0\"></span>g annually in lin<span class=\"_ _0\"></span>e with the<span class=\"_ _3bd\"> </span>Retail Pr<span class=\"_ _0\"></span>ices Inde<span class=\"_ _0\"></span>x assumptio<span class=\"_ _0\"></span>n to 30 June 20<span class=\"_ _0\"></span>28; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ann<span class=\"_ _0\"></span>ual payment<span class=\"_ _0\"></span>s of \u00a3<span class=\"_ _2\"></span>4 million into th<span class=\"_ _0\"></span>e New 201<span class=\"_ _0\"></span>6 Charge<span class=\"_ _0\"></span>d Account by 31 J<span class=\"_ _0\"></span>uly each yea<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, with the l<span class=\"_ _0\"></span>ast payme<span class=\"_ _0\"></span>nt due by 31 July 20<span class=\"_ _0\"></span>25.<span class=\"_ _3bd\"> </span>The ch<span class=\"_ _0\"></span>arged a<span class=\"_ _0\"></span>ccount is an E<span class=\"_ _0\"></span>scrow ac<span class=\"_ _0\"></span>count which wa<span class=\"_ _0\"></span>s created to provi<span class=\"_ _0\"></span>de the trus<span class=\"_ _0\"></span>tees with a<span class=\"_ _0\"></span>dditional s<span class=\"_ _0\"></span>ecurit<span class=\"_ _0\"></span>y in light of the fun<span class=\"_ _0\"></span>ding deficit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The<span class=\"_ gs47\"> </span>am<span class=\"_ _0\"></span>ounts he<span class=\"_ _0\"></span>ld in the charg<span class=\"_ _0\"></span>ed acc<span class=\"_ _0\"></span>ount does n<span class=\"_ _0\"></span>ot form par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f Ab<span class=\"_ _0\"></span>bey Life Sche<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>ets.<span class=\"_ _3bd\"> </span>Unde<span class=\"_ _0\"></span>r the terms of the N<span class=\"_ _0\"></span>ew 2016 Fun<span class=\"_ _0\"></span>ding Agreem<span class=\"_ _0\"></span>ent the fun<span class=\"_ _0\"></span>ding positio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Abbey Life Sc<span class=\"_ _0\"></span>heme will be a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sed a<span class=\"_ _0\"></span>s at 31 March 2027<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>A<span class=\"_ gs47\"> </span>payme<span class=\"_ _0\"></span>nt will be made f<span class=\"_ _0\"></span>rom the New 20<span class=\"_ _0\"></span>16 Charg<span class=\"_ _0\"></span>ed Acco<span class=\"_ _0\"></span>unt to the Sch<span class=\"_ _0\"></span>eme if the res<span class=\"_ _0\"></span>ults of the as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ment reveal a sh<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>fall cal<span class=\"_ _0\"></span>culated in<span class=\"_ _3bd\"> </span>acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the terms of the N<span class=\"_ _0\"></span>ew 201<span class=\"_ _0\"></span>6 F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ding Agree<span class=\"_ _0\"></span>ment. Th<span class=\"_ _0\"></span>e amount of the paym<span class=\"_ _0\"></span>ent will be the lowe<span class=\"_ _0\"></span>r of the amount of the s<span class=\"_ _0\"></span>hort<span class=\"_ _0\"></span>fall and th<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span>amo<span class=\"_ _0\"></span>unt held in the N<span class=\"_ _0\"></span>ew 2016 Ch<span class=\"_ _0\"></span>arged Ac<span class=\"_ _0\"></span>count.<span class=\"_ _3bd\"> </span>G1.3<span class=\"_ _0\"></span>.2 Summary of<span class=\"_ _2\"></span> amounts recogni<span class=\"_ _2\"></span>sed in the<span class=\"_ _2\"></span> consolidated fi<span class=\"_ _2\"></span>nancial statements<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w9a5 h296\" id=\"_9582b9a0-b25a-45a5-9d2b-257c3d6f01b4\"><tr><td></td><td></td><td></td><td class=\"t m0 x15d4 h29 y613b ff3 fs5 fc3 sc0 ls65 wsc0\">Minimum funding </td><td></td></tr><tr><td></td><td class=\"t m0 x164f h29 y613c ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y613c ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x5da h29 y613c ff3 fs5 fc3 sc0 lsbe wsbe\">requirement </td><td></td></tr><tr><td></td><td class=\"t m0 xae5 h29 y613d ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y613d ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x783 h29 y613d ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x540 h29 y613d ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a h29 y613e ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y613e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a0a w9a6 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b15 y5a0a w277 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b16 y5a0a w59f h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">(21<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b17 y5a0a w298 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b18 y5a0a w95a h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y601f w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a32 y601f wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b19 y601f w95a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1a y601f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd76 y601f we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e33 w9a7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administration expe<span class=\"_ _0\"></span>nses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad9 y5e33 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1b y5e33 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1c y5e33 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1d y5e33 wb5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d5f w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a80 y5d5f w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1e y5d5f w734 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a55 y5d5f w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b1f y5d5f w9f h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y613f ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5c46 w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b20 y5c46 w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b21 y5c46 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b22 y5c46 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b23 y5c46 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5e36 w95b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y5e36 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b24 y5e36 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b25 y5e36 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b26 y5e36 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5e37 w9a8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in minimum fun<span class=\"_ _0\"></span>ding require<span class=\"_ _0\"></span>ment oblig<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b27 y5e37 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b28 y5e37 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b29 y5e37 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2a y5e37 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2b y5afa w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2c y5afa w77 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2d y5afa w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2e y5afa w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c06 w9a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y5c06 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y5c06 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y5c06 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128f y5c06 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c07 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5c07 w185 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b32 y5c07 w204 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y5c07 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b33 y5c07 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b34 y5a16 w5cc h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls95 ws8e\">192<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b35 y5a16 w17e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>94)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b36 y5a16 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b37 y5a16 wb5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w9aa h297\" id=\"_7973464c-d2be-4cf8-a547-e7c4904bb3cc\"><tr><td></td><td></td><td></td><td class=\"t m0 x15d4 h29 y6140 ff3 fs5 fc3 sc0 ls65 wsc0\">Minimum funding </td><td></td></tr><tr><td></td><td class=\"t m0 x164f h29 y6141 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y6141 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x5da h29 y6141 ff3 fs5 fc3 sc0 lsbe wsbe\">requirement </td><td></td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6142 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6142 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x783 h29 y6142 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x540 h29 y6142 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a ha y6143 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6143 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6144 w9ab h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">At 1<span class=\"_ _2\"></span> Januar<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b38 y6144 w9ac h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b39 y6144 w1e8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>211<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3a y6144 w635 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3b y6144 w1e5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6145 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3c y6145 wcc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3d y6145 w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3e y6145 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b3f y6145 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6146 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y6146 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b40 y6146 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b41 y6146 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b42 y6146 w298 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6147 w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a80 y6147 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b43 y6147 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b44 y6147 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b45 y6147 w298 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6148 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y6149 w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a84 y6149 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b46 y6149 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b47 y6149 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b48 y6149 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614a w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y614a w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3f y614a w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7f7 y614a we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b49 y614a w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614b w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4a y614b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4b y614b w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4c y614b w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4d y614b wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614c w9ad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in geo<span class=\"_ _0\"></span>graphic as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4e y614c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4f y614c w866 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4b y614c w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b50 y614c w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y614d w9a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in minimum fun<span class=\"_ _0\"></span>ding require<span class=\"_ _0\"></span>ment oblig<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b27 y614d we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b28 y614d w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b29 y614d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2a y614d w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y614e w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a95 y614e wb3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b51 y614e w1e5 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b52 y614e w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b53 y614e w2db h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y614f w9a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y614f w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y614f we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y614f we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128f y614f w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6150 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></td><td class=\"c n x1b54 y6151 w95 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b55 y6151 wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b56 y6151 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b57 y6151 we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ae h298\"><div class=\"t m0 x1cf hb y6152 ff1 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b58 y5a16 w265 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls85 ws88\">211<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b59 y5a16 w1e8 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>218<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a12 y5a16 w298 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5a y5a16 w734 h1fc\"><div class=\"t m0 x1cf hb y6152 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td></tr></table>G1<span class=\"_ _0\"></span>.3<span class=\"_ _0\"></span>.3 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w9af h299\" id=\"_521eb361-6c0f-4ab2-9e19-ad277c79df89\"><tr><td></td><td class=\"c n xed4 y6153 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1a5b y6153 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6154 ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y6154 ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y6155 ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x1a5c ha y6155 ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an a<span class=\"_ _0\"></span>ctive </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6156 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y6156 ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 ha y6156 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e ha y6156 ff2 fs5 fc3 sc0 ls9c ws97\">ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6157 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6157 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6157 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6157 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6158 w4ab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Diver<span class=\"_ _0\"></span>sified inc<span class=\"_ _0\"></span>ome fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5b y6158 w4d4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5c y6158 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf54 y6158 w1b7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdcb y6158 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6132 w9b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Fixe<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest gover<span class=\"_ _0\"></span>nment bon<span class=\"_ _0\"></span>ds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5d y6132 w2a7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1625 y6132 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x704 y6132 wfe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5e y6132 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6099 w9b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Corporate bonds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b5f y6099 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">86<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b60 y6099 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x29a y6099 w521 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a4 y6099 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4a we2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Derivatives<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b61 y5b4a w9b2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(86)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b62 y5b4a w9b2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(86)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b63 y5b4a w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(85)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b64 y5b4a w1b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(85<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b65 y5b43 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5b43 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5b43 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b66 y5b43 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w9b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Pensi<span class=\"_ _2\"></span>on scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y5b4c w9b4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls95 ws8e\">192<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b67 y5b4c w4dc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b68 y5b4c wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb1c y5b4c w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(85)<span class=\"_ _3bd\"> </span></div></td></tr></table><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs8b4\">G1.3<span class=\"_ _0\"></span>.4 Defined<span class=\"_ _2\"></span> benefit obligation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8b5\">The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8b6\">\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 3<span class=\"_ _0\"></span>5% (2023: 4<span class=\"_ _0\"></span>4%<span class=\"_ _2\"></span>)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8b7\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 6<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% (2023:<span class=\"_ _2\"></span> 56<span class=\"_ _0\"></span>%<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8b8\">The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 11 year<span class=\"_ _0\"></span>s (2023: 13<span class=\"_ _0\"></span>.5 year<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gs8b9\">Principal assumptions<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ba\">The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the Ab<span class=\"_ _0\"></span>bey Life Sch<span class=\"_ _0\"></span>eme are set o<span class=\"_ _0\"></span>ut in the table b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span></div><div class=\"gs8bb\"><table class=\"s w9b5 h29a\" id=\"_10a23a41-49c6-4e27-bb5a-08556c4a04b7\"><tr><td></td><td class=\"t m0 x1ce h29 y6159 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"t m0 x1cd ha y6159 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x56c h29 y615a ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x56d ha y615a ff2 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60dd w9b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (5% per ann<span class=\"_ _0\"></span>um or RPI if lower)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b69 y60dd w9b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6a y60dd w9b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">2.<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60de w9b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns (\u2018CPI<span class=\"_ _0\"></span>\u2019 subj<span class=\"_ _0\"></span>ect to c<span class=\"_ _0\"></span>aps)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6b y60de w9ba h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6c y60de w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60df w9a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6d y60df w9bb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">5.55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6e y60df w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60c6 w9a2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6f y60c6 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b70 y60c6 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b71 y5b4c w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b72 y5b4c w9a0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8bc\">The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yie<span class=\"_ _0\"></span>ld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8bd\">of the Abb<span class=\"_ _0\"></span>ey Life Schem<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s liabili<span class=\"_ _0\"></span>ties. Thi<span class=\"_ _0\"></span>s method de<span class=\"_ _0\"></span>termines an e<span class=\"_ _0\"></span>quivalent sin<span class=\"_ _0\"></span>gle rate for ea<span class=\"_ _0\"></span>ch of the disco<span class=\"_ _0\"></span>unt and inflation r<span class=\"_ _0\"></span>ates, whi<span class=\"_ _0\"></span>ch is derived </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8be\">from the p<span class=\"_ _0\"></span>rofile of projec<span class=\"_ _0\"></span>ted ben<span class=\"_ _0\"></span>efit payment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8bf\">The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with a s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>-spec<span class=\"_ _0\"></span>ific table whi<span class=\"_ _0\"></span>ch was derive<span class=\"_ _0\"></span>d from the ac<span class=\"_ _0\"></span>tual mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y exper<span class=\"_ _0\"></span>ience in re<span class=\"_ _0\"></span>cent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c0\">year<span class=\"_ _0\"></span>s, per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d as par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e actua<span class=\"_ _0\"></span>rial fundin<span class=\"_ _0\"></span>g valuation as at 31 M<span class=\"_ _0\"></span>arch 2024, usin<span class=\"_ _0\"></span>g the SAPS S<span class=\"_ _0\"></span>4 \u2018Light<span class=\"_ _0\"></span>\u2019 table<span class=\"_ _0\"></span>s for males an<span class=\"_ _0\"></span>d for females b<span class=\"_ _0\"></span>ased o<span class=\"_ _0\"></span>n </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c1\">year of use<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure longevi<span class=\"_ _0\"></span>ty improvem<span class=\"_ _0\"></span>ents from 1 J<span class=\"_ _0\"></span>anuar<span class=\"_ _0\"></span>y 202<span class=\"_ _2\"></span>4 are b<span class=\"_ _0\"></span>ased on a<span class=\"_ _0\"></span>mende<span class=\"_ _0\"></span>d CMI 202<span class=\"_ _0\"></span>3 Core Proje<span class=\"_ _0\"></span>ctions (2<span class=\"_ _0\"></span>023: From 1 Januar<span class=\"_ _0\"></span>y 2021 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c2\">bas<span class=\"_ _0\"></span>ed on ame<span class=\"_ _0\"></span>nded CM<span class=\"_ _0\"></span>I 2021 C<span class=\"_ _0\"></span>ore Projec<span class=\"_ _0\"></span>tions) and a lon<span class=\"_ _0\"></span>g-term rate of improvem<span class=\"_ _0\"></span>ent of 1.6<span class=\"_ _0\"></span>% (2023: 1<span class=\"_ _0\"></span>.5%) per an<span class=\"_ _0\"></span>num for males a<span class=\"_ _0\"></span>nd 1.<span class=\"_ _0\"></span>2% (2023: </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c3\">1.<span class=\"_ _0\"></span>2%) per an<span class=\"_ _0\"></span>num for female<span class=\"_ _0\"></span>s. Unde<span class=\"_ _0\"></span>r these as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s the average life ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>ancy from ret<span class=\"_ _0\"></span>irement for a me<span class=\"_ _0\"></span>mber curre<span class=\"_ _0\"></span>ntly age<span class=\"_ _0\"></span>d 45 retiring at a<span class=\"_ _0\"></span>ge </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c4\">65 i<span class=\"_ _0\"></span>s 2<span class=\"_ _2\"></span>4.<span class=\"_ _0\"></span>6 years an<span class=\"_ _0\"></span>d 25.6 ye<span class=\"_ _0\"></span>ars for male an<span class=\"_ _0\"></span>d female me<span class=\"_ _0\"></span>mbers re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively (2023<span class=\"_ _0\"></span>: 2<span class=\"_ _2\"></span>4.<span class=\"_ _0\"></span>5 years an<span class=\"_ _0\"></span>d 25.<span class=\"_ _0\"></span>6 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs8c5\">A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span></div><div class=\"gs8c6\"><table class=\"s w9bd h29b\" id=\"_c3f4f39d-0cfd-4a2a-a8a6-dd7d5a3653df\"><tr><td class=\"t m0 x21a h29 y615b ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y615c w97d h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y615c w97e h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y615c w97f h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y615c w980 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y615d ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y615e ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y615f ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y615f ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b73 y5b4c w2b1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls17f ws192\">194<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b74 y5b4c w2db h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b75 y5b4c wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b76 y5b4c wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b77 y5b4c w635 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b78 y5b4c wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a1a y5b4c w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs8c7\"><table class=\"s w9be h29c\" id=\"_062a6afe-02a8-49a9-8923-26763fc78107\"><tr><td class=\"t m0 x21a ha y6160 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"c n xecd y6161 w983 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6161 w984 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6161 w985 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6161 w986 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y6162 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y6163 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y6163 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y6163 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y6164 ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6164 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5a16 wca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">21<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7a y5a16 w9bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7b y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7c y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7d y5a16 w209 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7e y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b7f y5a16 w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c8\">The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8c9\">occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ca\">ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n<span class=\"_ gs47\"> </span>calcula<span class=\"_ _0\"></span>ting the pen<span class=\"_ _0\"></span>sion liabilit<span class=\"_ _0\"></span>y reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d within<span class=\"_ gs47\"> </span>the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gs8cb\">financial position.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs8cc\">G1<span class=\"_ _0\"></span>.4 ReAs<span class=\"_ _0\"></span>sure Life S<span class=\"_ _0\"></span>taff Pe<span class=\"_ _0\"></span>nsion S<span class=\"_ _0\"></span>che<span class=\"_ _0\"></span>me<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs8cd\">G1<span class=\"_ _0\"></span>.4.1 Sc<span class=\"_ _0\"></span>heme d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8ce\">The ReA<span class=\"_ _0\"></span>ssure S<span class=\"_ _0\"></span>cheme is a re<span class=\"_ _0\"></span>gistere<span class=\"_ _0\"></span>d occ<span class=\"_ _0\"></span>upational p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme, s<span class=\"_ _0\"></span>et up under tru<span class=\"_ _0\"></span>st, and l<span class=\"_ _0\"></span>egally s<span class=\"_ _0\"></span>eparate from t<span class=\"_ _0\"></span>he employer ReA<span class=\"_ _0\"></span>ssure Mid<span class=\"_ _0\"></span>co </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8cf\">Limited (<span class=\"_ _0\"></span>\u2018R<span class=\"_ _0\"></span>ML<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>). The sch<span class=\"_ _0\"></span>eme is admini<span class=\"_ _0\"></span>stered by ReA<span class=\"_ _0\"></span>ssure Pensi<span class=\"_ _0\"></span>on T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d, a corp<span class=\"_ _0\"></span>orate trus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e. There are s<span class=\"_ _0\"></span>ix truste<span class=\"_ _0\"></span>e director<span class=\"_ _0\"></span>s, t<span class=\"_ _0\"></span>wo of whom </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d0\">are nom<span class=\"_ _0\"></span>inated by the ReA<span class=\"_ _0\"></span>ssure S<span class=\"_ _0\"></span>cheme m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s and four of whom are a<span class=\"_ _0\"></span>ppointed by R<span class=\"_ _0\"></span>ML. The t<span class=\"_ _0\"></span>rustee i<span class=\"_ _0\"></span>s responsib<span class=\"_ _0\"></span>le for adminis<span class=\"_ _0\"></span>tering the sc<span class=\"_ _0\"></span>heme </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d1\">in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the trus<span class=\"_ _0\"></span>t deed a<span class=\"_ _0\"></span>nd rules an<span class=\"_ _0\"></span>d pension<span class=\"_ _0\"></span>s laws and re<span class=\"_ _0\"></span>gulations<span class=\"_ _0\"></span>. The ReA<span class=\"_ _0\"></span>ssure Sc<span class=\"_ _0\"></span>heme is cl<span class=\"_ _0\"></span>osed to new e<span class=\"_ _0\"></span>ntrants an<span class=\"_ _0\"></span>d to future </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d2\">acc<span class=\"_ _0\"></span>rual for ac<span class=\"_ _0\"></span>tive membe<span class=\"_ _0\"></span>rs.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d3\">The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the ReAs<span class=\"_ _0\"></span>sure Sch<span class=\"_ _0\"></span>eme as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 under<span class=\"_ _0\"></span>taken by indep<span class=\"_ _0\"></span>endent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d4\">qualifie<span class=\"_ _0\"></span>d actu<span class=\"_ _0\"></span>aries. T<span class=\"_ _0\"></span>he prese<span class=\"_ _0\"></span>nt values of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n and the relate<span class=\"_ _0\"></span>d interest c<span class=\"_ _0\"></span>osts h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een me<span class=\"_ _0\"></span>asured usin<span class=\"_ _0\"></span>g the proj<span class=\"_ _0\"></span>ected uni<span class=\"_ _0\"></span>t </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d5\">credi<span class=\"_ _0\"></span>t method<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls14 ws1e gs8d6\">Funding<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d7\">The la<span class=\"_ _0\"></span>st fundin<span class=\"_ _0\"></span>g valuation of the Re<span class=\"_ _0\"></span>Assure S<span class=\"_ _0\"></span>cheme w<span class=\"_ _0\"></span>as carrie<span class=\"_ _0\"></span>d out by a qualifie<span class=\"_ _0\"></span>d actu<span class=\"_ _0\"></span>ary as at 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2020 a<span class=\"_ _0\"></span>nd showed a d<span class=\"_ _0\"></span>eficit of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d8\">\u00a377 m<span class=\"_ _0\"></span>illion. The f<span class=\"_ _0\"></span>unding valuat<span class=\"_ _0\"></span>ion as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023 was in prog<span class=\"_ _0\"></span>ress as at t<span class=\"_ _0\"></span>he end of the year a<span class=\"_ _0\"></span>nd was finalis<span class=\"_ _0\"></span>ed in Febru<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>25.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8d9\">Following c<span class=\"_ _0\"></span>ompletion of th<span class=\"_ _0\"></span>e 2020 valuatio<span class=\"_ _0\"></span>n a recover<span class=\"_ _0\"></span>y plan was a<span class=\"_ _0\"></span>greed in S<span class=\"_ _0\"></span>eptembe<span class=\"_ _0\"></span>r 2021 bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e truste<span class=\"_ _0\"></span>e and RM<span class=\"_ _0\"></span>L in order to make goo<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8da\">the defic<span class=\"_ _0\"></span>it. RM<span class=\"_ _0\"></span>L agree<span class=\"_ _0\"></span>d to pay contribut<span class=\"_ _0\"></span>ions of \u00a317<span class=\"_ _2\"></span>.7 million into the e<span class=\"_ _0\"></span>xisting C<span class=\"_ _0\"></span>ustody Ac<span class=\"_ _0\"></span>count spre<span class=\"_ _0\"></span>ad over four annu<span class=\"_ _0\"></span>al payment<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f \u00a34.42<span class=\"_ _0\"></span>5 million </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8db\">payable o<span class=\"_ _0\"></span>n 1 April 2022, 1 A<span class=\"_ _0\"></span>pril 2023<span class=\"_ _0\"></span>, 1 April 2024 and 1 April 202<span class=\"_ _0\"></span>5. The 20<span class=\"_ _0\"></span>23 Recover<span class=\"_ _0\"></span>y plan<span class=\"_ _0\"></span>, agree<span class=\"_ _0\"></span>d in Februar<span class=\"_ _0\"></span>y 2025<span class=\"_ _0\"></span>, no long<span class=\"_ _0\"></span>er requires t<span class=\"_ _0\"></span>he </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8dc\">payme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e remaining c<span class=\"_ _0\"></span>ontribution o<span class=\"_ _0\"></span>n 1 April 2025<span class=\"_ _0\"></span>. It is anticipate<span class=\"_ _0\"></span>d that \u00a326 m<span class=\"_ _0\"></span>illion will be paid fro<span class=\"_ _0\"></span>m the Custo<span class=\"_ _0\"></span>dy Acco<span class=\"_ _0\"></span>unt on or shor<span class=\"_ _0\"></span>tly afte<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8dd\">1 July 2<span class=\"_ _0\"></span>026 to remove any rema<span class=\"_ _0\"></span>ining deficit at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2025<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8de\">The am<span class=\"_ _0\"></span>ounts he<span class=\"_ _0\"></span>ld in this acc<span class=\"_ _0\"></span>ount do not form par<span class=\"_ _0\"></span>t of the S<span class=\"_ _0\"></span>cheme\u2019s plan as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d are instea<span class=\"_ _0\"></span>d held in the C<span class=\"_ _0\"></span>ustody Ac<span class=\"_ _0\"></span>count and a<span class=\"_ _0\"></span>re include<span class=\"_ _0\"></span>d within </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs8df\">finan<span class=\"_ _0\"></span>cial ass<span class=\"_ _0\"></span>ets in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lscd ws1 gs8e0\">The Gro<span class=\"_ _0\"></span>up agree<span class=\"_ _0\"></span>s to cover those e<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s incurre<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y th<span class=\"_ _0\"></span>e ReAss<span class=\"_ _0\"></span>ure Sche<span class=\"_ _0\"></span>me and up to the en<span class=\"_ _0\"></span>d of 202<span class=\"_ _2\"></span>4 the c<span class=\"_ _0\"></span>ost of the de<span class=\"_ _0\"></span>ath-in-ser<span class=\"_ _0\"></span>vice b<span class=\"_ _0\"></span>enefits fo<span class=\"_ _0\"></span>r </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lscd ws1 gs8e1\">thos<span class=\"_ _0\"></span>e membe<span class=\"_ _0\"></span>rs of the sch<span class=\"_ _0\"></span>eme entitle<span class=\"_ _0\"></span>d to those b<span class=\"_ _0\"></span>enefits<span class=\"_ _0\"></span>. Payments of \u00a3<span class=\"_ _0\"></span>2 million (2023: \u00a3<span class=\"_ _0\"></span>2 million) have bee<span class=\"_ _0\"></span>n made durin<span class=\"_ _0\"></span>g the year to cover th<span class=\"_ _0\"></span>ese cos<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div>G1.4.<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span> Summar<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> of amounts<span class=\"_ _2\"></span> recognised in<span class=\"_ _2\"></span> the consolidat<span class=\"_ _2\"></span>ed financial stat<span class=\"_ _2\"></span>ements<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w9c0 h29d\" id=\"_4c91b927-9598-40bf-9089-b19f91dc5154\"><tr><td></td><td></td><td></td><td class=\"t m0 x1b80 h29 y6165 ff3 fs5 fc3 sc0 ls1 ws1\">Prov<span class=\"_ _0\"></span>isio<span class=\"_ _0\"></span>n for ta<span class=\"_ _0\"></span>x on </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xdb2 h29 y6166 ff3 fs5 fc3 sc0 ls1 ws1\">the e<span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>omic </td><td></td></tr><tr><td></td><td class=\"t m0 x164f h29 y6167 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y6167 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td class=\"t m0 x7c6 h29 y6167 ff3 fs5 fc3 sc0 ls8d ws86\">surplus avai<span class=\"_ _2\"></span>lable </td><td></td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6168 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6168 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 xeda h29 y6168 ff3 fs5 fc3 sc0 ls1 ws1\">as<span class=\"_ gs348\"> </span>a re<span class=\"_ _0\"></span>fund </td><td class=\"t m0 x540 h29 y6168 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a h29 y6169 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6169 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y616a w9a6 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b15 y616a w2d8 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d2 ws1eb\">287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b59 y616a w9c1 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(27<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf66 y616a w2db h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b81 y616a w96 h201\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x784 h23 y616b ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a66 w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y5a66 w1b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b83 y5a66 w1d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(12)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0e y5a66 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b84 y5a66 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c62 w79 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y5c62 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b40 y5c62 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b41 y5c62 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b42 y5c62 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y616c w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b85 y616c wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b86 y616c w181 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b87 y616c w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b88 y616c w4f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y616d ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bb2 w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b20 y5bb2 wca h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b89 y5bb2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b25 y5bb2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8a y5bb2 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(29)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb3 w95b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y5bb3 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b24 y5bb3 wb2 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8b y5bb3 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8c y5bb3 w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd8 w9c2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in provision for t<span class=\"_ _0\"></span>ax on ec<span class=\"_ _0\"></span>onomic surp<span class=\"_ _0\"></span>lus available as a ref<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a49 y5bd8 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4a y5bd8 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8d y5bd8 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8e y5bd8 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y616e w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2b y616e wca h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d0 ws1e9\">(<span class=\"_ _0\"></span>29)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b8f y616e wb2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b90 y616e w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab1 y616e w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w9a9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y5b24 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y5b24 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b31 y5b24 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x128f y5b24 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5b25 w187 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b91 y5b25 w397 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b92 y5b25 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b93 y5b25 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b94 y5a16 w12b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b95 y5a16 w9c3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>242)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b96 y5a16 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b97 y5a16 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w9c4 h29e\" id=\"_9d1bfb0e-b65b-4e3b-ac6d-33ba6c7aa046\"><tr><td></td><td></td><td></td><td class=\"t m0 x246 ha y616f ff2 fs5 fc3 sc0 ls1 ws1\">Prov<span class=\"_ _0\"></span>ision fo<span class=\"_ _0\"></span>r tax on </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb61 ha y6170 ff2 fs5 fc3 sc0 ls1 ws1\">the e<span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>omic </td><td></td></tr><tr><td></td><td class=\"t m0 xac4 ha y6171 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> of </td><td class=\"t m0 x57d ha y6171 ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td class=\"t m0 x53f ha y6171 ff2 fs5 fc3 sc0 ls11 ws11\">surplus available<span class=\"_ _2\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xac1 ha y6172 ff2 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme<span class=\"_ gs1f7\"> </span>a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s </td><td class=\"t m0 xa78 ha y6172 ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x783 ha y6172 ff2 fs5 fc3 sc0 ls1 ws1\">as<span class=\"_ gs1f7\"> </span>a<span class=\"_ gs1f7\"> </span>re<span class=\"_ _0\"></span>fund </td><td class=\"t m0 x540 ha y6172 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a ha y6173 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6173 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a09 w9a6 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 1 Janu<span class=\"_ _0\"></span>ary<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b15 y5a09 w2d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">288<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b98 y5a09 w6c0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ca ws1e2\">(26<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b99 y5a09 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9a y5a09 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6128 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y6128 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9b y6128 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9c y6128 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9d y6128 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a65 w79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y5a65 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ad7 y5a65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9e y5a65 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9f y5a65 w1b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d5e w976 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b85 y5d5e w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba0 y5d5e w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba1 y5d5e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba2 y5d5e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6174 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5a0e w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba3 y5a0e w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8ed y5a0e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba4 y5a0e wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba5 y5a0e w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd6 w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a89 y5bd6 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19e6 y5bd6 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba6 y5bd6 w9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bb2 w978 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8d y5bb2 w1ae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba7 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba8 y5bb2 w11c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6122 w95c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ae3 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba9 y6122 w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1baa y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bab y6122 w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd8 w9c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in provision for t<span class=\"_ _0\"></span>ax on ec<span class=\"_ _0\"></span>onomic surp<span class=\"_ _0\"></span>lus available as a ref<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bac y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bad y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bae y5bd8 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1baf y5bd8 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w95e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4d y5afa w7e8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb0 y5afa w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb1 y5afa w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb2 y5afa wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w9a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Employer\u2019<span class=\"_ _2\"></span>s co<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>tribution<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2f y5a46 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b30 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb3 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b84 y5a46 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1af1 y5b25 w1b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(10<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb4 y5b25 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb5 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xda4 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb6 y5a16 w2d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb7 y5a16 w62d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>273)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x775 y5a16 w324 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bb8 y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr></table>G1<span class=\"_ _0\"></span>.4.<span class=\"_ _0\"></span>3 Sch<span class=\"_ _0\"></span>eme as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span>The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w9c5 h29f\" id=\"_b6f2a552-d4f4-4c80-91ff-a468aa8ea122\"><tr><td></td><td></td><td class=\"c n xed4 y6175 w467 h23f\"><div class=\"t m0 x1cf ha y59ee ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y6175 w468 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6176 ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1930 ha y6176 ff2 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich no<span class=\"_ _0\"></span>t </td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y6177 ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n </td><td></td><td class=\"t m0 x1bb9 ha y6177 ff2 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in an </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y6178 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 xafb h29 y6178 ff3 fs5 fc3 sc0 ls1 ws1\">ac<span class=\"_ _0\"></span>tive<span class=\"_ gs348\"> </span>ma<span class=\"_ _0\"></span>rket </td><td class=\"t m0 x5a2 ha y6178 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x1bba ha y6178 ff2 fs5 fc3 sc0 ls1 ws1\">ac<span class=\"_ _0\"></span>tive<span class=\"_ gs1f7\"> </span>ma<span class=\"_ _0\"></span>rket </td></tr><tr><td></td><td class=\"t m0 x542 h29 y6179 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6179 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6179 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6179 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a44 we5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbb y5a44 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbc y5a44 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbd y5a44 w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbe y5a44 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 w9c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Government bonds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bbf y5a12 w167 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5a12 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc0 y5a12 w39d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">118<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc1 y5a12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a45 w9b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Corporate bonds<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa7a y5a45 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc2 y5a45 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc3 y5a45 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">92<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7a4 y5a45 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w9c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Othe<span class=\"_ _0\"></span>r quo<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ecurities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc4 y5a46 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x636 y5a46 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc5 y5a46 w151 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd44 y5a46 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b65 y5a47 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5a47 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5a47 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b66 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Pensi<span class=\"_ _2\"></span>on scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xe22 y5a16 w1a4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc6 y5a16 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x521 y5a16 w9c8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">287<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc7 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table>G1.4.4 Defined benefit obligati<span class=\"_ _2\"></span>on<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 6<span class=\"_ _0\"></span>6% (202<span class=\"_ _0\"></span>3: 66<span class=\"_ _0\"></span>%<span class=\"_ _2\"></span>)<span class=\"_ _0\"></span>; and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 34% (202<span class=\"_ _2\"></span>3: 34%)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></span>The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 15 ye<span class=\"_ _0\"></span>ars (2023: 17 ye<span class=\"_ _0\"></span>ars).<span class=\"_ _3bd\"> </span>Principal assumptions<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the Re<span class=\"_ _0\"></span>Assure S<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>re set out in the t<span class=\"_ _0\"></span>able bel<span class=\"_ _0\"></span>ow:<span class=\"_ _3bd\"> </span><table class=\"s w26d h2a0\" id=\"_eb3f8f9d-1fcb-4787-ade4-f64baedb6054\"><tr><td></td><td class=\"t m0 x1ce h29 y617a ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y617a ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x56c h29 y617b ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x56d ha y617b ff2 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y60dc w9b6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent (5% per ann<span class=\"_ _0\"></span>um or RPI if lower)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b69 y60dc w9b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.0<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6a y60dc w9b8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">2.<span class=\"_ _0\"></span>90<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60dd w9c9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc8 y60dd w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bc9 y60dd w9ca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2.60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y617c w9cb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase in sal<span class=\"_ _0\"></span>aries<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b71 y617c w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">3<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bca y617c w9cc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.60<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60df w9a1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6d y60df w9bb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">5.55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6e y60df w675 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60c6 w9a2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6f y60c6 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b70 y60c6 w99e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b4c w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b71 y5b4c w2ab h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bc ws1cf\">2<span class=\"_ _0\"></span>.70<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b72 y5b4c w9a0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">2<span class=\"_ _0\"></span>.60<span class=\"_ _3bd\"> </span></div></td></tr></table>The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yi<span class=\"_ _0\"></span>eld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span>of the ReA<span class=\"_ _0\"></span>ssure Sc<span class=\"_ _0\"></span>heme\u2019s liabilities<span class=\"_ _0\"></span>. This meth<span class=\"_ _0\"></span>od determin<span class=\"_ _0\"></span>es an equiv<span class=\"_ _0\"></span>alent single r<span class=\"_ _0\"></span>ate for each of the dis<span class=\"_ _0\"></span>count and in<span class=\"_ _0\"></span>flation rates<span class=\"_ _0\"></span>, which is de<span class=\"_ _0\"></span>rived<span class=\"_ _3bd\"> </span>from the p<span class=\"_ _0\"></span>rofile of projec<span class=\"_ _0\"></span>ted ben<span class=\"_ _0\"></span>efit payment<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with SAP<span class=\"_ _0\"></span>S Series 3 li<span class=\"_ _0\"></span>ght base t<span class=\"_ _0\"></span>ables with a 1<span class=\"_ _0\"></span>02% (2023: 1<span class=\"_ _0\"></span>02%) multiplie<span class=\"_ _0\"></span>r for males an<span class=\"_ _0\"></span>d a 95%<span class=\"_ _3bd\"> </span>(2023<span class=\"_ _0\"></span>: 95%) multiplier for fe<span class=\"_ _0\"></span>males<span class=\"_ _0\"></span>, with CMI 2<span class=\"_ _0\"></span>019 pro<span class=\"_ _0\"></span>jectio<span class=\"_ _0\"></span>ns in line with a 1<span class=\"_ _0\"></span>.5% pa lon<span class=\"_ _0\"></span>g-term trend up to a<span class=\"_ _0\"></span>nd includin<span class=\"_ _0\"></span>g 31 Dece<span class=\"_ _0\"></span>mber 202<span class=\"_ _0\"></span>0. Future<span class=\"_ _3bd\"> </span>long<span class=\"_ _0\"></span>evity im<span class=\"_ _0\"></span>provements f<span class=\"_ _0\"></span>rom 1 Januar<span class=\"_ _0\"></span>y 2021 on<span class=\"_ _0\"></span>wards are in line with am<span class=\"_ _0\"></span>ende<span class=\"_ _0\"></span>d CMI 2023 C<span class=\"_ _0\"></span>ore Proje<span class=\"_ _0\"></span>ctions (20<span class=\"_ _0\"></span>22: from 1 Janu<span class=\"_ _0\"></span>ary 20<span class=\"_ _0\"></span>21 in line with<span class=\"_ _3bd\"> </span>ame<span class=\"_ _0\"></span>nded CM<span class=\"_ _0\"></span>I 2022 Co<span class=\"_ _0\"></span>re Projec<span class=\"_ _0\"></span>tions) with a lon<span class=\"_ _0\"></span>g-term trend of 1<span class=\"_ _0\"></span>.6% pa (2<span class=\"_ _0\"></span>023: 1.<span class=\"_ _0\"></span>5%) for males an<span class=\"_ _0\"></span>d 1.<span class=\"_ _0\"></span>2% (2023: 1<span class=\"_ _0\"></span>.2%) for fem<span class=\"_ _0\"></span>ales.<span class=\"_ _3bd\"> </span>Unde<span class=\"_ _0\"></span>r these as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s the average life ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>ancy from re<span class=\"_ _0\"></span>tirement for a me<span class=\"_ _0\"></span>mber curre<span class=\"_ _0\"></span>ntly age<span class=\"_ _0\"></span>d 45 retiring at a<span class=\"_ _0\"></span>ge 60 is 2<span class=\"_ _0\"></span>9.9 ye<span class=\"_ _0\"></span>ars and 31<span class=\"_ _0\"></span>.5<span class=\"_ gs47\"> </span>yea<span class=\"_ _0\"></span>rs<span class=\"_ _3bd\"> </span>for male a<span class=\"_ _0\"></span>nd female m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s respec<span class=\"_ _0\"></span>tively (2023<span class=\"_ _0\"></span>: 29.7 year<span class=\"_ _0\"></span>s and 31.<span class=\"_ _0\"></span>3 years for m<span class=\"_ _0\"></span>ale and fem<span class=\"_ _0\"></span>ale membe<span class=\"_ _0\"></span>rs resp<span class=\"_ _0\"></span>ectivel<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span>A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span><table class=\"s w9cd h29b\" id=\"_7dc257c4-b7d8-4937-b1bf-ba40f2dc813d\"><tr><td class=\"t m0 x21a h29 y617d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"c n xecd y617e w97d h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y617e w97e h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y617e w97f h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y617e w980 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y617f ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y6180 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y6181 ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y6181 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b44 w9ce h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls5f ws122\">Impact on the defined benefit obligati<span class=\"_ _2\"></span>on (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcb y5b44 w7aa h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c7 ws1df\">242<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcc y5b44 w9cf h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls15c ws1ee\">(<span class=\"_ _0\"></span>9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcd y5b44 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5b44 wb3 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bce y5b44 w77 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14db y5b44 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bcf y5b44 w2db h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w9d0 h2a1\" id=\"_bddff4b4-77f9-49e5-9c9e-d00c7b8a767c\"><tr><td class=\"t m0 x21a ha y6182 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td><td class=\"c n xecd y6183 w983 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6183 w984 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6183 w985 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6183 w986 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y6184 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y6185 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y6185 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y6185 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y6186 ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6186 ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b4c w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5b4c w628 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd0 y5b4c w731 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd1 y5b4c wb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd2 y5b4c wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd3 y5b4c w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd4 y5b4c w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd5 y5b4c w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr></table>The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely to<span class=\"_ _3bd\"> </span>occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in some of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculat<span class=\"_ _0\"></span>ing the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y of the defined b<span class=\"_ _0\"></span>enefit obli<span class=\"_ _0\"></span>gation to signifi<span class=\"_ _0\"></span>cant<span class=\"_ _3bd\"> </span>ac<span class=\"_ _0\"></span>tuarial as<span class=\"_ _0\"></span>sumptions t<span class=\"_ _0\"></span>he same m<span class=\"_ _0\"></span>ethod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n<span class=\"_ gs47\"> </span>calcula<span class=\"_ _0\"></span>ting the pen<span class=\"_ _0\"></span>sion liabilit<span class=\"_ _0\"></span>y reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d within<span class=\"_ gs47\"> </span>the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated<span class=\"_ _3bd\"> </span>financial position.<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.5 S<span class=\"_ _0\"></span>un Life Ass<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany of Can<span class=\"_ _0\"></span>ada 1<span class=\"_ _0\"></span>98<span class=\"_ _0\"></span>8 UK and I<span class=\"_ _0\"></span>rish Em<span class=\"_ _0\"></span>ployee Ben<span class=\"_ _0\"></span>efits s<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span>G1<span class=\"_ _0\"></span>.5<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e detai<span class=\"_ _0\"></span>ls<span class=\"_ _3bd\"> </span>The S<span class=\"_ _0\"></span>un Life Assura<span class=\"_ _0\"></span>nce Com<span class=\"_ _0\"></span>pany of Canad<span class=\"_ _0\"></span>a 198<span class=\"_ _0\"></span>8 UK an<span class=\"_ _0\"></span>d Irish Employee B<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s schem<span class=\"_ _0\"></span>e (\u2018S<span class=\"_ _0\"></span>un Life o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada S<span class=\"_ _0\"></span>cheme\u2019<span class=\"_ _0\"></span>) was co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d within<span class=\"_ _3bd\"> </span>the Gro<span class=\"_ _0\"></span>up financia<span class=\"_ _0\"></span>l stateme<span class=\"_ _0\"></span>nts following th<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion of the Sun Life bus<span class=\"_ _0\"></span>inesse<span class=\"_ _0\"></span>s on 3 April 2023<span class=\"_ _0\"></span>. The S<span class=\"_ _0\"></span>un Lif<span class=\"_ _2\"></span>e of C<span class=\"_ _0\"></span>anada S<span class=\"_ _0\"></span>cheme is a re<span class=\"_ _0\"></span>gistere<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>occ<span class=\"_ _0\"></span>upational p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>, set up under tr<span class=\"_ _0\"></span>ust, an<span class=\"_ _0\"></span>d legall<span class=\"_ _0\"></span>y separa<span class=\"_ _0\"></span>te from the princip<span class=\"_ _0\"></span>al employer Ph<span class=\"_ _0\"></span>oenix Life CA Limited (forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>un<span class=\"_ _3bd\"> </span>Life Ass<span class=\"_ _0\"></span>urance C<span class=\"_ _0\"></span>ompany of Can<span class=\"_ _0\"></span>ada (U.<span class=\"_ _0\"></span>K.) Limited). Th<span class=\"_ _0\"></span>e Sche<span class=\"_ _0\"></span>me is adminis<span class=\"_ _0\"></span>tered by a spe<span class=\"_ _0\"></span>cialist t<span class=\"_ _0\"></span>hird par<span class=\"_ _0\"></span>ty admin<span class=\"_ _0\"></span>istrator, Hymans Ro<span class=\"_ _0\"></span>ber<span class=\"_ _0\"></span>tson LLP<span class=\"_ _4\"></span>. A<span class=\"_ _3bd\"> </span>T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee B<span class=\"_ _0\"></span>oard is resp<span class=\"_ _0\"></span>onsible for en<span class=\"_ _0\"></span>suring the S<span class=\"_ _0\"></span>cheme i<span class=\"_ _0\"></span>s run in acco<span class=\"_ _0\"></span>rdance with t<span class=\"_ _0\"></span>he T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st Dee<span class=\"_ _0\"></span>d and Rules a<span class=\"_ _0\"></span>nd for ensurin<span class=\"_ _0\"></span>g complian<span class=\"_ _0\"></span>ce with<span class=\"_ _3bd\"> </span>leg<span class=\"_ _0\"></span>islation alth<span class=\"_ _0\"></span>ough ce<span class=\"_ _0\"></span>rtain t<span class=\"_ _0\"></span>asks are dele<span class=\"_ _0\"></span>gated to thir<span class=\"_ _0\"></span>d partie<span class=\"_ _0\"></span>s. The T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stee Bo<span class=\"_ _0\"></span>ard is made up of thre<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>tees<span class=\"_ _0\"></span>; an Indepe<span class=\"_ _0\"></span>ndent T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee who is als<span class=\"_ _0\"></span>o<span class=\"_ _3bd\"> </span>the Ch<span class=\"_ _0\"></span>air<span class=\"_ _2\"></span>, a Princip<span class=\"_ _0\"></span>al Employer app<span class=\"_ _0\"></span>ointed T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee an<span class=\"_ _0\"></span>d a Membe<span class=\"_ _0\"></span>r-Nomin<span class=\"_ _0\"></span>ated T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee. T<span class=\"_ _0\"></span>he Indep<span class=\"_ _0\"></span>endent T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee is Capi<span class=\"_ _0\"></span>tal Cranfie<span class=\"_ _0\"></span>ld P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion<span class=\"_ _3bd\"> </span>T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s Limited. The S<span class=\"_ _0\"></span>un Life of Canad<span class=\"_ _0\"></span>a Schem<span class=\"_ _0\"></span>e is close<span class=\"_ _0\"></span>d to new entrant<span class=\"_ _0\"></span>s and to future a<span class=\"_ _0\"></span>ccrua<span class=\"_ _0\"></span>l f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r active me<span class=\"_ _0\"></span>mbers<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The val<span class=\"_ _0\"></span>uation has b<span class=\"_ _0\"></span>een bas<span class=\"_ _0\"></span>ed on an as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment of the liabili<span class=\"_ _0\"></span>ties of the Sun Life of Can<span class=\"_ _0\"></span>ada Sc<span class=\"_ _0\"></span>heme as at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 under<span class=\"_ _0\"></span>taken by<span class=\"_ _3bd\"> </span>indep<span class=\"_ _0\"></span>endent q<span class=\"_ _0\"></span>ualified ac<span class=\"_ _0\"></span>tuaries<span class=\"_ _0\"></span>. The pre<span class=\"_ _0\"></span>sent value<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation and the re<span class=\"_ _0\"></span>lated interes<span class=\"_ _0\"></span>t cost<span class=\"_ _0\"></span>s have bee<span class=\"_ _0\"></span>n measure<span class=\"_ _0\"></span>d using the<span class=\"_ _3bd\"> </span>proj<span class=\"_ _0\"></span>ected un<span class=\"_ _0\"></span>it credit met<span class=\"_ _0\"></span>hod.<span class=\"_ _3bd\"> </span>The e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus of the S<span class=\"_ _0\"></span>cheme is a<span class=\"_ _0\"></span>nticipated to be u<span class=\"_ _0\"></span>sed to cover f<span class=\"_ _0\"></span>uture cost<span class=\"_ _0\"></span>s of the Sch<span class=\"_ _0\"></span>eme and will b<span class=\"_ _0\"></span>e fully utilise<span class=\"_ _0\"></span>d prior to any windin<span class=\"_ _0\"></span>g-up<span class=\"_ _3bd\"> </span>of the S<span class=\"_ _0\"></span>cheme. A<span class=\"_ _0\"></span>s a result, n<span class=\"_ _0\"></span>o provision for ta<span class=\"_ _0\"></span>x is deduc<span class=\"_ _0\"></span>ted from the s<span class=\"_ _0\"></span>urplus.<span class=\"_ _3bd\"> </span>Funding<span class=\"_ _3bd\"> </span>The la<span class=\"_ _0\"></span>st fundin<span class=\"_ _0\"></span>g valuation of the S<span class=\"_ _0\"></span>un Life of Canada S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e was carrie<span class=\"_ _0\"></span>d out by a qualifie<span class=\"_ _0\"></span>d act<span class=\"_ _0\"></span>uary a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 202<span class=\"_ _0\"></span>2 and showe<span class=\"_ _0\"></span>d a surplus<span class=\"_ _3bd\"> </span>of \u00a36 million<span class=\"_ _0\"></span>. No contribu<span class=\"_ _0\"></span>tions are req<span class=\"_ _0\"></span>uired to be paid by th<span class=\"_ _0\"></span>e employer into the S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>G1.5.<span class=\"_ _0\"></span>2 Summary o<span class=\"_ _2\"></span>f amounts recogn<span class=\"_ _2\"></span>ised in the<span class=\"_ _2\"></span> consolidated<span class=\"_ _2\"></span> financial statements<span class=\"_ _3bd\"> </span>The am<span class=\"_ _0\"></span>ounts rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w9d1 h2a2\" id=\"_00dfd8a0-f14d-49e6-b1f5-8a84aa0e56af\"><tr><td></td><td class=\"t m0 x164f h29 y6187 ff3 fs5 fc3 sc0 ls1 ws1\">Fair v<span class=\"_ _0\"></span>alue of </td><td class=\"t m0 x1a22 h29 y6187 ff3 fs5 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>fined b<span class=\"_ _0\"></span>ene<span class=\"_ _0\"></span>fit </td><td></td><td class=\"t m0 x1a23 h29 y6187 ff3 fs5 fc3 sc0 ls65 wsc0\">Reimburse<span class=\"_ _0\"></span>ment </td></tr><tr><td></td><td class=\"t m0 xae5 h29 y6188 ff3 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts </td><td class=\"t m0 xaf9 h29 y6188 ff3 fs5 fc3 sc0 lsa6 wsa1\">obligation </td><td class=\"t m0 x5a2 h29 y6188 ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x540 h29 y6188 ff3 fs5 fc3 sc0 ls1 ws1\">rig<span class=\"_ _0\"></span>ht </td></tr><tr><td class=\"t m0 x21a h29 y6189 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y6189 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y618a w9d2 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls5f ws122\">At January<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd6 y618a w338 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">297<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd7 y618a w9d3 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>280<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c1 y618a w4ef h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd8 y618a wb3 h1f9\"><div class=\"t m0 x1cf h23 y5e16 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y618b w29f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y618b w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bd9 y618b w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bda y618b wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdb y618b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y618c w79 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Administrative expens<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abd y618c w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b40 y618c w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdc y618c w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdd y618c w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y618d w976 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bde y618d w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bdf y618d w3b6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be0 y618d w4f1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be1 y618d we9 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y618e ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y618f w958 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b20 y618f w39f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be2 y618f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a47 y618f w39f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be3 y618f w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6031 w977 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4a y6031 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b4b y6031 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be4 y6031 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be5 y6031 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6190 w95b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in financia<span class=\"_ _0\"></span>l assumptio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a42 y6190 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b24 y6190 w6d1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be6 y6190 w4e0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be7 y6190 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5b40 w95c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Expe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ienc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3e y5b40 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3f y5b40 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be8 y5b40 w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1be9 y5b40 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6191 w95e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b2b y6191 w18a h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bea y6191 w123 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12cd y6191 w84d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1beb y6191 w5b h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b43 w960 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bec y5b43 w95 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bed y5b43 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bee y5b43 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x76b y5b43 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bef y5b44 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf0 y5b44 w8ee h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>252)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf1 y5b44 w58 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf2 y5b44 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w9d4 h2a3\" id=\"_64d34fb1-3619-405d-81a0-cda9792bc31a\"><tr><td></td><td class=\"t m0 xac4 ha y6192 ff2 fs5 fc3 sc0 ls11 ws11\">Fair value<span class=\"_ _2\"></span> of </td><td class=\"t m0 x57d ha y6192 ff2 fs5 fc3 sc0 ls4d wsbf\">Defined benefit<span class=\"_ _2\"></span> </td><td></td><td class=\"t m0 x9cd ha y6192 ff2 fs5 fc3 sc0 ls21 ws23\">Reimbur<span class=\"_ _0\"></span>sement </td></tr><tr><td></td><td class=\"t m0 xac1 ha y6193 ff2 fs5 fc3 sc0 ls1 ws1\">sc<span class=\"_ _0\"></span>heme<span class=\"_ gs1f7\"> </span>a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s </td><td class=\"t m0 xa78 ha y6193 ff2 fs5 fc3 sc0 ls4e ws48\">obligation </td><td class=\"t m0 x5a2 ha y6193 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 xdaf ha y6193 ff2 fs5 fc3 sc0 ls1 ws1\">rig<span class=\"_ _0\"></span>ht </td></tr><tr><td class=\"t m0 x21a ha y6194 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6194 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y6195 ff3 fs6 fc3 sc0 ls1 ws1\">On a<span class=\"_ _0\"></span>cquisit<span class=\"_ _0\"></span>ion of Phoe<span class=\"_ _0\"></span>nix Life CA Holdin<span class=\"_ _0\"></span>gs Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>form<span class=\"_ _0\"></span>erly S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6196 w9d5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">UK Lim<span class=\"_ _0\"></span>ited)(note H<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf3 y6196 w120 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6c ws1ca\">302<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf4 y6196 w9d6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>286<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf5 y6196 w11a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0f y6196 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c62 w29f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Interes<span class=\"_ _0\"></span>t incom<span class=\"_ _0\"></span>e/<span class=\"_ _2\"></span>(expen<span class=\"_ _0\"></span>se)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b82 y5c62 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b9b y5c62 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf6 y5c62 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x460 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6197 w976 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Inc<span class=\"_ _0\"></span>luded i<span class=\"_ _0\"></span>n profit or lo<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b85 y6197 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf7 y6197 w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf49 y6197 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf8 y6197 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6198 ff2 fs6 fc3 sc0 ls12 ws13\">Remeasuremen<span class=\"_ _2\"></span>ts:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y5bb2 w958 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Return o<span class=\"_ _0\"></span>n plan ass<span class=\"_ _0\"></span>ets excludin<span class=\"_ _0\"></span>g amounts in<span class=\"_ _0\"></span>clude<span class=\"_ _0\"></span>d in int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a3a y5bb2 w209 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bf9 y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfa y5bb2 w209 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfb y5bb2 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y6122 w977 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Gain from c<span class=\"_ _0\"></span>hange<span class=\"_ _0\"></span>s in demog<span class=\"_ _0\"></span>raphic as<span class=\"_ _0\"></span>sumptions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a88 y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfc y6122 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfd y6122 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bfe y6122 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5c74 w978 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss fro<span class=\"_ _0\"></span>m chang<span class=\"_ _0\"></span>es in financi<span class=\"_ _0\"></span>al assumpt<span class=\"_ _0\"></span>ions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8c y5c74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bff y5c74 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c00 y5c74 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c01 y5c74 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y5bd9 w97a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xperien<span class=\"_ _0\"></span>ce gain<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a8f y5bd9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c02 y5bd9 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c03 y5bd9 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c04 y5bd9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 w95e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls11 ws11\">Included in<span class=\"_ _2\"></span> other comprehensiv<span class=\"_ _2\"></span>e income<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a4d y5c66 w9d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c05 y5c66 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c06 y5c66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1091 y5c66 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a47 w960 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Benefit pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c07 y5a47 w1ba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c08 y5a47 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c09 y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x25d y5a47 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1bef y5a16 w16f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">297<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0a y5a16 w9d8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0b y5a16 w34b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0c y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr></table>G1<span class=\"_ _0\"></span>.5<span class=\"_ _0\"></span>.3 Sc<span class=\"_ _0\"></span>heme a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The dis<span class=\"_ _0\"></span>tribution of th<span class=\"_ _0\"></span>e schem<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s at the end of the ye<span class=\"_ _0\"></span>ar was as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s w9d9 h2a4\" id=\"_b9c3569b-606d-469a-8043-9dc30e2c2f97\"><tr><td></td><td></td><td class=\"c n xed4 y6199 w467 h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1a5b y6199 w9da h23f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">2023<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x556 h29 y619a ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td><td></td><td class=\"t m0 x1bba h29 y619a ff3 fs5 fc3 sc0 ls1 ws1\">Of w<span class=\"_ _0\"></span>hich n<span class=\"_ _0\"></span>ot </td></tr><tr><td></td><td></td><td class=\"t m0 x59b h29 y619b ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td><td></td><td class=\"t m0 x7a8 h29 y619b ff3 fs5 fc3 sc0 ls1 ws1\">quo<span class=\"_ _0\"></span>ted in a<span class=\"_ _0\"></span>n acti<span class=\"_ _0\"></span>ve </td></tr><tr><td></td><td class=\"t m0 x5a1 h29 y619c ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67d h29 y619c ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td><td class=\"t m0 x5a2 h29 y619c ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td><td class=\"t m0 x67e h29 y619c ff3 fs5 fc3 sc0 lsbe wsbe\">market<span class=\"_ _2\"></span> </td></tr><tr><td></td><td class=\"t m0 x542 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y619d ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y619e web h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5aa y619e w197 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0d y619e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0e y619e w2a9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c0f y619e w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5cf6 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b65 y5cf6 wb3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a50 y5cf6 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5cf6 w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c10 y5cf6 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y619f w648 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Qua<span class=\"_ _0\"></span>lifying in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>ts</div><div class=\"t m0 xe88 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c11 y5b2a w47 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">231<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c12 y5b2a w2a7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c13 y5b2a w249 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">257<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c14 y5b2a w249 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">257<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9db h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls11 ws11\">Pension<span class=\"_ _2\"></span> scheme assets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c15 y5a16 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">267<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c16 y5a16 w2a7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c17 y5a16 w1c1 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2<span class=\"_ _0\"></span>97<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c18 y5a16 w4c2 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ce ws1e7\">25<span class=\"_ _0\"></span>7<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>In 20<span class=\"_ _0\"></span>18 and 2<span class=\"_ _0\"></span>021 th<span class=\"_ _0\"></span>e Sche<span class=\"_ _0\"></span>me co<span class=\"_ _0\"></span>mplete<span class=\"_ _0\"></span>d two b<span class=\"_ _0\"></span>uy-i<span class=\"_ _0\"></span>n trans<span class=\"_ _0\"></span>act<span class=\"_ _0\"></span>ions wi<span class=\"_ _0\"></span>th ext<span class=\"_ _0\"></span>ernal p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>ies whi<span class=\"_ _0\"></span>ch cove<span class=\"_ _0\"></span>r appro<span class=\"_ _0\"></span>ximate<span class=\"_ _0\"></span>ly 90<span class=\"_ _0\"></span>% of the S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e\u2019s liabi<span class=\"_ _0\"></span>lities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>G1.5<span class=\"_ _0\"></span>.4 Defi<span class=\"_ _2\"></span>ned benefit obligation<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>alculation of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e allocate<span class=\"_ _0\"></span>d to the sche<span class=\"_ _0\"></span>me\u2019<span class=\"_ _2\"></span>s m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s as follows:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Defe<span class=\"_ _0\"></span>rred sch<span class=\"_ _0\"></span>eme memb<span class=\"_ _0\"></span>ers: 4<span class=\"_ _0\"></span>0% (2023: 4<span class=\"_ _0\"></span>0%); and<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls12 ws13\">Pensio<span class=\"_ _2\"></span>ner<span class=\"_ _0\"></span>s:<span class=\"_ _2\"></span> 6<span class=\"_ _0\"></span>0%<span class=\"_ _2\"></span> (2023: 60%)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></span>The wei<span class=\"_ _0\"></span>ghted averag<span class=\"_ _0\"></span>e duration of the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 is 11<span class=\"_ _0\"></span>.7 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars (2023<span class=\"_ _0\"></span>: 12.8 year<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Principal assumptions<span class=\"_ _3bd\"> </span>The pr<span class=\"_ _0\"></span>incipal finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sumptions of the S<span class=\"_ _0\"></span>un Life of Canada S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e are set out in th<span class=\"_ _0\"></span>e table be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span><table class=\"s w9dc h2a5\" id=\"_8cdd9030-1c2f-462d-8e19-264bf9bcbd13\"><tr><td></td><td class=\"t m0 x1ce h29 y61a0 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd h29 y61a0 ff3 fs5 fc3 sc0 ls22 ws24\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x56c h29 y61a1 ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1c19 h29 y61a1 ff3 fs5 fc3 sc0 ls1 ws1\">%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae5 w9dd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for pen<span class=\"_ _0\"></span>sions in paym<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1a y5ae5 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1b y5ae5 w99e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.0<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 w9c9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rate of incre<span class=\"_ _0\"></span>ase for deferre<span class=\"_ _0\"></span>d pensio<span class=\"_ _0\"></span>ns<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1c y5b29 w9de h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">2.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1d y5b29 w9df h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">2.15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 w9a1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ount rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6d y5ae6 w9bb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">5.55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6e y5ae6 w675 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">4.6<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 w9a2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b6f y5a15 w9bc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">3.20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b70 y5a15 w99e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d5 ws1ef\">3.1<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9a3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Inflatio<span class=\"_ _0\"></span>n \u2013 CPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1e y5a16 w9e0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">2.30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5d4 y5a16 w365 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5b ws1f8\">2.30<span class=\"_ _3bd\"> </span></div></td></tr></table>The dis<span class=\"_ _0\"></span>count rate an<span class=\"_ _0\"></span>d inflation rate as<span class=\"_ _0\"></span>sumptions h<span class=\"_ _0\"></span>ave been dete<span class=\"_ _0\"></span>rmined by co<span class=\"_ _0\"></span>nsiderin<span class=\"_ _0\"></span>g the shape of th<span class=\"_ _0\"></span>e appropriate yie<span class=\"_ _0\"></span>ld cur<span class=\"_ _0\"></span>ves and the dur<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span>of the Sun Life of Ca<span class=\"_ _0\"></span>nada S<span class=\"_ _0\"></span>cheme\u2019s liabilitie<span class=\"_ _0\"></span>s. This me<span class=\"_ _0\"></span>thod determ<span class=\"_ _0\"></span>ines an equi<span class=\"_ _0\"></span>valent singl<span class=\"_ _0\"></span>e rate for each of th<span class=\"_ _0\"></span>e discount an<span class=\"_ _0\"></span>d inflation rates<span class=\"_ _0\"></span>, which is<span class=\"_ _3bd\"> </span>derive<span class=\"_ _0\"></span>d from the profile of pro<span class=\"_ _0\"></span>jecte<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ayments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The p<span class=\"_ _0\"></span>ost-retireme<span class=\"_ _0\"></span>nt mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumptio<span class=\"_ _0\"></span>ns are in line with 20<span class=\"_ _0\"></span>22 VIT<span class=\"_ _4\"></span>A Lite ta<span class=\"_ _0\"></span>bles (2023<span class=\"_ _0\"></span>: 2022 tabl<span class=\"_ _0\"></span>es)<span class=\"_ _2\"></span>. Fut<span class=\"_ _0\"></span>ure longevit<span class=\"_ _0\"></span>y improvem<span class=\"_ _0\"></span>ents are in line wit<span class=\"_ _0\"></span>h<span class=\"_ _3bd\"> </span>the 202<span class=\"_ _0\"></span>3 CMI mo<span class=\"_ _0\"></span>del with no wei<span class=\"_ _0\"></span>ght on 2020 and 2<span class=\"_ _0\"></span>021 exper<span class=\"_ _0\"></span>ience an<span class=\"_ _0\"></span>d 15% weighting o<span class=\"_ _0\"></span>n 2022 and 202<span class=\"_ _0\"></span>3 experien<span class=\"_ _0\"></span>ce (2023: 2<span class=\"_ _0\"></span>022 CMI m<span class=\"_ _0\"></span>odel with<span class=\"_ _3bd\"> </span>no weig<span class=\"_ _0\"></span>ht on 2020 and 20<span class=\"_ _0\"></span>21 experie<span class=\"_ _0\"></span>nce and 2<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% we<span class=\"_ _0\"></span>ighting on 202<span class=\"_ _0\"></span>2 experien<span class=\"_ _0\"></span>ce), with a long<span class=\"_ _0\"></span>-t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rm trend of 1.<span class=\"_ _0\"></span>5% p.a<span class=\"_ _0\"></span>. for males (2023<span class=\"_ _0\"></span>: 1.<span class=\"_ _0\"></span>5%<span class=\"_ _2\"></span>) an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>1.<span class=\"_ _0\"></span>5% p.a<span class=\"_ _0\"></span>. f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>males (2023<span class=\"_ _0\"></span>: 1.<span class=\"_ _0\"></span>5%<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span>Unde<span class=\"_ _0\"></span>r these as<span class=\"_ _0\"></span>sumption<span class=\"_ _0\"></span>s the average life ex<span class=\"_ _0\"></span>pect<span class=\"_ _0\"></span>ancy from re<span class=\"_ _0\"></span>tirement for a me<span class=\"_ _0\"></span>mber curre<span class=\"_ _0\"></span>ntly age<span class=\"_ _0\"></span>d 45 retiring at a<span class=\"_ _0\"></span>ge 65 i<span class=\"_ _0\"></span>s 23.1 years an<span class=\"_ _0\"></span>d 26.1<span class=\"_ gs47\"> </span>year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>for male a<span class=\"_ _0\"></span>nd female m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s respec<span class=\"_ _0\"></span>tively (2023<span class=\"_ _0\"></span>: 23.1 years a<span class=\"_ _0\"></span>nd 26.1 year<span class=\"_ _0\"></span>s for male and fe<span class=\"_ _0\"></span>male mem<span class=\"_ _0\"></span>bers res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span>A quantitative sensitivit<span class=\"_ _0\"></span>y analysis for significant ac<span class=\"_ _0\"></span>tuarial assumptions is shown be<span class=\"_ _0\"></span>low:<span class=\"_ _3bd\"> </span><table class=\"s w9e1 h2a6\" id=\"_07af6d4d-9387-4d37-a0d9-5c835ccddcf9\"><tr><td class=\"t m0 x21a h29 y61a2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _0\"></span> </td><td class=\"c n xecd y61a3 w97d h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls4d wsbf\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa2 y61a3 w97e h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Disco<span class=\"_ _0\"></span>unt<span class=\"_ _2\"></span> ra<span class=\"_ _0\"></span>te<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aa3 y61a3 w97f h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls11 ws11\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aa4 y61a3 w980 h20a\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls9e ws9a\">Life<span class=\"_ _2\"></span> expectancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a h29 y61a4 ff3 fs5 fc3 sc0 lsa6 wsa1\">Assumptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xdb1 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 x649 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xed8 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">25<span class=\"_ _0\"></span>bps </td><td class=\"t m0 xb65 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1aa5 h29 y61a5 ff3 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a h29 y61a6 ff3 fs5 fc3 sc0 ls22 ws24\">Sensitiv<span class=\"_ _0\"></span>ity level<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x541 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xae4 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">increase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 h29 y61a6 ff3 fs5 fc3 sc0 ls54 ws7f\">decrease<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5a16 w249 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">252<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c1f y5a16 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c20 y5a16 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c21 y5a16 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c22 y5a16 w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c23 y5a16 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c24 y5a16 w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s w9e2 h2a7\" id=\"_a6ab21cc-f3dc-4fca-a090-a51e6adc2eee\"><tr><td class=\"t m0 x21a ha y61a7 ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td><td class=\"c n xecd y6161 w983 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 lsbe wsbe\">Base<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aac y6161 w984 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls10c ws10d\">Di<span class=\"_ _2\"></span>scount rat<span class=\"_ _2\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td class=\"c n x1aad y6161 w985 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls22 ws24\">RPI<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1aae y6161 w986 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1ee ws20d\">Lif<span class=\"_ _2\"></span>e expect<span class=\"_ _2\"></span>ancy<span class=\"_ _3bd\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x21a ha y61a8 ff2 fs5 fc3 sc0 ls21 ws23\">Ass<span class=\"_ _0\"></span>umptions<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x677 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xdb1 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 x649 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xed8 ha y61a9 ff2 fs5 fc3 sc0 lsa8 wsa3\">25bps </td><td class=\"t m0 xb65 ha y61a9 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td><td class=\"t m0 x1cd ha y61a9 ff2 fs5 fc3 sc0 ls1 ws1\">1 yea<span class=\"_ _0\"></span>r </td></tr><tr><td class=\"t m0 x21a ha y61aa ff2 fs5 fc3 sc0 ls22 ws24\">Sensitivit<span class=\"_ _0\"></span>y lev<span class=\"_ _2\"></span>el<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x5a4 ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1a6d ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xafb ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb6d ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb02 ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">increa<span class=\"_ _0\"></span>se<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y61aa ff2 fs5 fc3 sc0 ls21 ws23\">decre<span class=\"_ _0\"></span>ase<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 w981 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>ct on the defin<span class=\"_ _0\"></span>ed ben<span class=\"_ _0\"></span>efit obligatio<span class=\"_ _0\"></span>n (\u00a3m)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b79 y5a16 w2b2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c25 y5a16 w9e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c26 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c27 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c28 y5a16 wc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c29 y5a16 w4c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2a y5a16 w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>1)<span class=\"_ _3bd\"> </span></div></td></tr></table>The ab<span class=\"_ _0\"></span>ove sensitivi<span class=\"_ _0\"></span>ty ana<span class=\"_ _0\"></span>lyses are b<span class=\"_ _0\"></span>ased on a c<span class=\"_ _0\"></span>hange in an a<span class=\"_ _0\"></span>ssumptio<span class=\"_ _0\"></span>n while holding a<span class=\"_ _0\"></span>ll other ass<span class=\"_ _0\"></span>umptions co<span class=\"_ _0\"></span>nstant<span class=\"_ _0\"></span>. In<span class=\"_ gs47\"> </span>prac<span class=\"_ _0\"></span>tice, this is<span class=\"_ gs47\"> </span>un<span class=\"_ _0\"></span>lik<span class=\"_ _2\"></span>ely<span class=\"_ _3bd\"> </span>to<span class=\"_ gs47\"> </span>occ<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>, and ch<span class=\"_ _0\"></span>anges in s<span class=\"_ _0\"></span>ome of the as<span class=\"_ _0\"></span>sumptions m<span class=\"_ _0\"></span>ay be correl<span class=\"_ _0\"></span>ated. Whe<span class=\"_ _0\"></span>n calculatin<span class=\"_ _0\"></span>g the sen<span class=\"_ _0\"></span>sitivit<span class=\"_ _0\"></span>y o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation to<span class=\"_ _3bd\"> </span>signifi<span class=\"_ _0\"></span>cant act<span class=\"_ _0\"></span>uarial as<span class=\"_ _0\"></span>sumptions th<span class=\"_ _0\"></span>e same me<span class=\"_ _0\"></span>thod has b<span class=\"_ _0\"></span>een app<span class=\"_ _0\"></span>lied as whe<span class=\"_ _0\"></span>n<span class=\"_ gs47\"> </span>calculat<span class=\"_ _0\"></span>ing the pen<span class=\"_ _0\"></span>sion liabilit<span class=\"_ _0\"></span>y reco<span class=\"_ _0\"></span>gnised w<span class=\"_ _0\"></span>ithin<span class=\"_ gs47\"> </span>the st<span class=\"_ _0\"></span>atement<span class=\"_ _3bd\"> </span>of<span class=\"_ gs47\"> </span>consolidated financial position.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-677": {
   "value": "Defined<span class=\"_ _2\"></span> contributi<span class=\"_ _2\"></span>on pension<span class=\"_ _2\"></span> schemes<span class=\"_ _3bd\"> </span>Oblig<span class=\"_ _0\"></span>ations for co<span class=\"_ _0\"></span>ntributions to de<span class=\"_ _0\"></span>fined contrib<span class=\"_ _0\"></span>ution pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes are rec<span class=\"_ _0\"></span>ognis<span class=\"_ _0\"></span>ed as an exp<span class=\"_ _0\"></span>ense in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span> st<span class=\"_ _0\"></span>atement as in<span class=\"_ _0\"></span>curred.<span class=\"_ _3bd\"> </span>Defined benefit<span class=\"_ _2\"></span> pension schemes<span class=\"_ _3bd\"> </span>The n<span class=\"_ _0\"></span>et surplus or defi<span class=\"_ _0\"></span>cit (the econ<span class=\"_ _0\"></span>omic surplus o<span class=\"_ _0\"></span>r deficit) in res<span class=\"_ _0\"></span>pect of th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>mes is c<span class=\"_ _0\"></span>alculated by e<span class=\"_ _0\"></span>stimating t<span class=\"_ _0\"></span>he<span class=\"_ _3bd\"> </span> amo<span class=\"_ _0\"></span>unt o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>uture bene<span class=\"_ _0\"></span>fit that employe<span class=\"_ _0\"></span>es have earn<span class=\"_ _0\"></span>ed in return for the<span class=\"_ _0\"></span>ir ser<span class=\"_ _0\"></span>vice in the curre<span class=\"_ _0\"></span>nt and prior yea<span class=\"_ _0\"></span>rs; that b<span class=\"_ _0\"></span>enefit is dis<span class=\"_ _0\"></span>counted to<span class=\"_ _3bd\"> </span> determin<span class=\"_ _0\"></span>e its pres<span class=\"_ _0\"></span>ent value and t<span class=\"_ _0\"></span>he fair value of any sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>sets is de<span class=\"_ _0\"></span>ducte<span class=\"_ _0\"></span>d. The Gro<span class=\"_ _0\"></span>up recogn<span class=\"_ _0\"></span>ises a pen<span class=\"_ _0\"></span>sion surplu<span class=\"_ _0\"></span>s on the basis th<span class=\"_ _0\"></span>at it is<span class=\"_ _3bd\"> </span> entitle<span class=\"_ _0\"></span>d to the surplu<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f e<span class=\"_ _0\"></span>ach sch<span class=\"_ _0\"></span>eme in the event of a gr<span class=\"_ _0\"></span>adual set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent of the liabilitie<span class=\"_ _0\"></span>s, due to it<span class=\"_ _0\"></span>s ability to o<span class=\"_ _0\"></span>rder a winding up of th<span class=\"_ _0\"></span>e T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span> The e<span class=\"_ _0\"></span>conomic s<span class=\"_ _0\"></span>urplus or defic<span class=\"_ _0\"></span>it is subse<span class=\"_ _0\"></span>quently ad<span class=\"_ _0\"></span>justed to e<span class=\"_ _0\"></span>liminate on con<span class=\"_ _0\"></span>solidation th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of ins<span class=\"_ _0\"></span>urance p<span class=\"_ _0\"></span>olicies is<span class=\"_ _0\"></span>sued by Gro<span class=\"_ _0\"></span>up<span class=\"_ _3bd\"> </span> entitie<span class=\"_ _0\"></span>s to the define<span class=\"_ _0\"></span>d benefit p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>hemes (the re<span class=\"_ _0\"></span>porte<span class=\"_ _0\"></span>d surplus or d<span class=\"_ _0\"></span>eficit). A corres<span class=\"_ _0\"></span>ponding a<span class=\"_ _0\"></span>djust<span class=\"_ _0\"></span>ment is mad<span class=\"_ _0\"></span>e to the carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>es of<span class=\"_ _3bd\"> </span> insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act liabili<span class=\"_ _0\"></span>ties and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up determine<span class=\"_ _0\"></span>s the net interes<span class=\"_ _0\"></span>t expen<span class=\"_ _0\"></span>se or incom<span class=\"_ _0\"></span>e on the net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability for t<span class=\"_ _0\"></span>he period by a<span class=\"_ _0\"></span>pplying the d<span class=\"_ _0\"></span>iscount rate use<span class=\"_ _0\"></span>d to measure th<span class=\"_ _0\"></span>e defined b<span class=\"_ _0\"></span>enefit oblig<span class=\"_ _0\"></span>ation at the b<span class=\"_ _0\"></span>eginning of th<span class=\"_ _0\"></span>e annual pe<span class=\"_ _0\"></span>riod to the op<span class=\"_ _0\"></span>ening net p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme as<span class=\"_ _0\"></span>set/li<span class=\"_ _0\"></span>ability. The disc<span class=\"_ _0\"></span>ount rate is the yie<span class=\"_ _0\"></span>ld at the peri<span class=\"_ _0\"></span>od end on A<span class=\"_ _0\"></span>A credit r<span class=\"_ _0\"></span>ated bond<span class=\"_ _0\"></span>s that have maturi<span class=\"_ _0\"></span>ty dates a<span class=\"_ _0\"></span>pproximating to th<span class=\"_ _0\"></span>e terms of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s oblig<span class=\"_ _0\"></span>ations. T<span class=\"_ _0\"></span>he calc<span class=\"_ _0\"></span>ulation is per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d by a qualified a<span class=\"_ _0\"></span>ctuar<span class=\"_ _0\"></span>y using th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>ted unit cre<span class=\"_ _0\"></span>dit metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>ment in the net p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y is analys<span class=\"_ _0\"></span>ed bet<span class=\"_ _0\"></span>ween the s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>, past s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce cost<span class=\"_ _0\"></span>, cur<span class=\"_ _0\"></span>tailment<span class=\"_ _0\"></span>s and set<span class=\"_ _0\"></span>tlement<span class=\"_ _0\"></span>s (all rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>trative exp<span class=\"_ _0\"></span>enses in th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent), the ne<span class=\"_ _0\"></span>t interest co<span class=\"_ _0\"></span>st on the ne<span class=\"_ _0\"></span>t pension s<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>/liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, inclu<span class=\"_ _0\"></span>ding any reimbur<span class=\"_ _0\"></span>sement a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s (<span class=\"_ _2\"></span>re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed within net inve<span class=\"_ _0\"></span>stment in<span class=\"_ _0\"></span>come in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt), remea<span class=\"_ _0\"></span>surement<span class=\"_ _0\"></span>s of the net pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>et/liabili<span class=\"_ _0\"></span>ty (reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in o<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span>er compre<span class=\"_ _0\"></span>hensive inc<span class=\"_ _0\"></span>ome) and emp<span class=\"_ _0\"></span>loyer contribu<span class=\"_ _0\"></span>tions.<span class=\"_ _3bd\"> </span>The lo<span class=\"_ _0\"></span>ngevit<span class=\"_ _0\"></span>y swaps an<span class=\"_ _0\"></span>d quota sha<span class=\"_ _0\"></span>re reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s in respe<span class=\"_ _0\"></span>ct of the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me buy-in<span class=\"_ _0\"></span>s are treated as re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment right<span class=\"_ _0\"></span>s and are re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed at fair val<span class=\"_ _0\"></span>ue.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-635": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls35 ws32 gs935\">G2. Intangible asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gs936\">Goodwill<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs937\">Busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbinations are a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for by applying t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion metho<span class=\"_ _0\"></span>d. Good<span class=\"_ _0\"></span>will represe<span class=\"_ _0\"></span>nts the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the cos<span class=\"_ _0\"></span>t of the<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs938\">acq<span class=\"_ _0\"></span>uisition and th<span class=\"_ _0\"></span>e fair value of the ne<span class=\"_ _0\"></span>t identifiabl<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs939\">Goo<span class=\"_ _0\"></span>dwill is mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at cos<span class=\"_ _0\"></span>t. Following ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, g<span class=\"_ _0\"></span>oodwill is s<span class=\"_ _0\"></span>tated at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s any accum<span class=\"_ _0\"></span>ulated impair<span class=\"_ _0\"></span>ment loss<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs93a\">Goo<span class=\"_ _0\"></span>dwill is not amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d but is tes<span class=\"_ _0\"></span>ted for impairm<span class=\"_ _0\"></span>ent annuall<span class=\"_ _0\"></span>y or when the<span class=\"_ _0\"></span>re is evidenc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ossible im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>. For impairme<span class=\"_ _0\"></span>nt t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>,<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs93b\">go<span class=\"_ _0\"></span>odwill is alloc<span class=\"_ _0\"></span>ated to relevant c<span class=\"_ _0\"></span>ash ge<span class=\"_ _0\"></span>nerating un<span class=\"_ _0\"></span>its. G<span class=\"_ _0\"></span>oodwill is imp<span class=\"_ _0\"></span>aired when th<span class=\"_ _0\"></span>e recovera<span class=\"_ _0\"></span>ble amount is le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs93c\">In ce<span class=\"_ _0\"></span>rtain a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s an exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e acquirer<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in the net fair va<span class=\"_ _0\"></span>lue of the acquire<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s ide<span class=\"_ _0\"></span>ntifiable as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, liabilitie<span class=\"_ _0\"></span>s, contin<span class=\"_ _0\"></span>gent liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs93d\">and n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r cost m<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>rise. Whe<span class=\"_ _0\"></span>re this occur<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus of the fair va<span class=\"_ _0\"></span>lue of net ass<span class=\"_ _0\"></span>ets ac<span class=\"_ _0\"></span>quired over the fair v<span class=\"_ _0\"></span>alue of the<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs93e\">con<span class=\"_ _0\"></span>sideration i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1d ws1f gs93f\">Acquir<span class=\"_ _2\"></span>ed in-force<span class=\"_ _2\"></span> business (<span class=\"_ _2\"></span>\u2018<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>VIF\u2019)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs940\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>cquired in b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinatio<span class=\"_ _0\"></span>ns and por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e at the time of acq<span class=\"_ _0\"></span>uisition.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs941\">At initial re<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n the A<span class=\"_ _4\"></span>V<span class=\"_ _0\"></span>IF repres<span class=\"_ _0\"></span>ents the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the fair val<span class=\"_ _0\"></span>ue of the contra<span class=\"_ _0\"></span>ctual rig<span class=\"_ _0\"></span>hts acquire<span class=\"_ _0\"></span>d and oblig<span class=\"_ _0\"></span>ations as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs942\">the liab<span class=\"_ _0\"></span>ility me<span class=\"_ _0\"></span>asured in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicies. T<span class=\"_ _0\"></span>he liabilit<span class=\"_ _0\"></span>y meas<span class=\"_ _0\"></span>ured in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th the Group\u2019s acco<span class=\"_ _0\"></span>unting<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs943\">polic<span class=\"_ _0\"></span>ies is determin<span class=\"_ _0\"></span>ed using a val<span class=\"_ _0\"></span>uation techn<span class=\"_ _0\"></span>ique to provide a relia<span class=\"_ _0\"></span>ble estim<span class=\"_ _0\"></span>ate of the amount for whi<span class=\"_ _0\"></span>ch the liabilit<span class=\"_ _0\"></span>y could b<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>rred in an<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs944\">order<span class=\"_ _0\"></span>ly transa<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n market part<span class=\"_ _0\"></span>icipants at th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment date, s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a minimum equa<span class=\"_ _0\"></span>l to the surrend<span class=\"_ _0\"></span>er value. This a<span class=\"_ _0\"></span>cquired<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs945\">in-force bu<span class=\"_ _0\"></span>siness is a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed on a diminis<span class=\"_ _0\"></span>hing balan<span class=\"_ _0\"></span>ce basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs946\">An impair<span class=\"_ _0\"></span>ment review is p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is an indic<span class=\"_ _0\"></span>ation of impairm<span class=\"_ _0\"></span>ent. Whe<span class=\"_ _0\"></span>n the recover<span class=\"_ _0\"></span>able amount i<span class=\"_ _0\"></span>s less tha<span class=\"_ _0\"></span>n the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue,<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs947\">an impair<span class=\"_ _0\"></span>ment los<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs948\">The a<span class=\"_ _0\"></span>cquired in-force b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s is allocate<span class=\"_ _0\"></span>d to relevant ca<span class=\"_ _0\"></span>sh gene<span class=\"_ _0\"></span>rating unit<span class=\"_ _0\"></span>s for the purpo<span class=\"_ _0\"></span>ses of impairm<span class=\"_ _0\"></span>ent testin<span class=\"_ _0\"></span>g.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls20 ws22 gs949\">Brands<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs94a\">Bran<span class=\"_ _0\"></span>ds are mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition at cos<span class=\"_ _0\"></span>t. The co<span class=\"_ _0\"></span>st of an intang<span class=\"_ _0\"></span>ible ass<span class=\"_ _0\"></span>et acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combin<span class=\"_ _0\"></span>ation is the fair val<span class=\"_ _0\"></span>ue as at the<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs94b\">date of the ac<span class=\"_ _0\"></span>quisition<span class=\"_ _0\"></span>. The cos<span class=\"_ _0\"></span>t of an intangibl<span class=\"_ _0\"></span>e asset a<span class=\"_ _0\"></span>cquired in exch<span class=\"_ _0\"></span>ange for a n<span class=\"_ _0\"></span>on-monet<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>sset is me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value as at the d<span class=\"_ _0\"></span>ate of<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs94c\">the tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion. Followin<span class=\"_ _0\"></span>g initial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>, the brand a<span class=\"_ _0\"></span>nd other co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets are c<span class=\"_ _0\"></span>arried at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s accum<span class=\"_ _0\"></span>ulated<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs94d\">amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion and any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of bran<span class=\"_ _0\"></span>ds ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated usef<span class=\"_ _0\"></span>ul lives. Th<span class=\"_ _0\"></span>ey are teste<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span>impairm<span class=\"_ _0\"></span>ent whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is evide<span class=\"_ _0\"></span>nce of pos<span class=\"_ _0\"></span>sible impairm<span class=\"_ _0\"></span>ent. For impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing, the<span class=\"_ _0\"></span>y are allocate<span class=\"_ _0\"></span>d to the relevant c<span class=\"_ _0\"></span>ash gen<span class=\"_ _0\"></span>erating unit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are impaire<span class=\"_ _0\"></span>d when the re<span class=\"_ _0\"></span>coverable am<span class=\"_ _0\"></span>ount is les<span class=\"_ _0\"></span>s than the c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value.<span class=\"_ _3bd\"> </span>Internall<span class=\"_ _2\"></span>y generated software assets<span class=\"_ _3bd\"> </span>Intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>sets aris<span class=\"_ _0\"></span>ing from develop<span class=\"_ _0\"></span>ment cos<span class=\"_ _0\"></span>ts are ca<span class=\"_ _0\"></span>pitalise<span class=\"_ _0\"></span>d when it ha<span class=\"_ _0\"></span>s been es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed that th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>t is technic<span class=\"_ _0\"></span>ally and fin<span class=\"_ _0\"></span>ancially<span class=\"_ _3bd\"> </span>feasib<span class=\"_ _0\"></span>le and the Gro<span class=\"_ _0\"></span>up has both th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion and the ab<span class=\"_ _0\"></span>ility to us<span class=\"_ _0\"></span>e the comple<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>et. Interna<span class=\"_ _0\"></span>lly gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are measure<span class=\"_ _0\"></span>d on<span class=\"_ _3bd\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion at cost w<span class=\"_ _0\"></span>hich compr<span class=\"_ _0\"></span>ises all direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y to create, p<span class=\"_ _0\"></span>roduce an<span class=\"_ _0\"></span>d prepare the a<span class=\"_ _0\"></span>sset to be c<span class=\"_ _0\"></span>apable of<span class=\"_ _3bd\"> </span>ope<span class=\"_ _0\"></span>rating in the ma<span class=\"_ _0\"></span>nner intend<span class=\"_ _0\"></span>ed by mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. Following initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition, the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at cost le<span class=\"_ _0\"></span>ss ac<span class=\"_ _0\"></span>cumulated am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and<span class=\"_ _3bd\"> </span>any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of the intern<span class=\"_ _0\"></span>ally gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated<span class=\"_ _3bd\"> </span>usef<span class=\"_ _0\"></span>ul lives which is es<span class=\"_ _0\"></span>timated to b<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en 3 and 1<span class=\"_ _0\"></span>0 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars. T<span class=\"_ _0\"></span>hey are teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt whenever th<span class=\"_ _0\"></span>ere is eviden<span class=\"_ _0\"></span>ce of possib<span class=\"_ _0\"></span>le impairme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span><table class=\"s w9e4 h2a8\" id=\"_b04c0cc8-2b11-486a-ae2a-d51ce69c7501\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xac2 h29 y61ab ff3 fs5 fc3 sc0 lsbe wsbe\">Other intangible assets<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x801 h29 y61ac ff3 fs5 fc3 sc0 ls22 ws24\">Internally </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x648 h29 y61ad ff3 fs5 fc3 sc0 ls65 wsc0\">Acquired in-force </td><td></td><td class=\"t m0 x783 h29 y61ad ff3 fs5 fc3 sc0 lsbe wsbe\">generated<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y61ae ff3 fs5 fc3 sc0 ls11 ws11\">Goodwill<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xec4 h29 y61ae ff3 fs5 fc3 sc0 ls8d ws86\">business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1c2b h29 y61ae ff3 fs5 fc3 sc0 ls8d ws86\">Brands</td><td class=\"t m0 x53f h29 y61ae ff3 fs5 fc3 sc0 lsbe wsbe\"> software assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y61ae ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y61af ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y61b0 ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c62 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2c y5c62 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2d y5c62 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,1<span class=\"_ _0\"></span>96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2e y5c62 w2a7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2f y5c62 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c30 y5c62 w9e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">4,38<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60f1 w9e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Additions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c31 y60f1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c32 y60f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c33 y60f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c34 y60f1 w19c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c35 y60f1 w8f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w9e7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c36 y5a68 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c37 y5a68 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,1<span class=\"_ _0\"></span>96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c38 y5a68 w2a7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c39 y5a68 w19c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3a y5a68 w7ea h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">4<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y61b1 ff3 fs6 fc3 sc0 ls1a ws1b\">Amor<span class=\"_ _0\"></span>tisation and impa<span class=\"_ _0\"></span>ir<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6122 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3b y6122 w9e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(47<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3c y6122 w425 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3d y6122 w20b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3e y6122 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3f y6122 w9e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,356)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w9ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Amor<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ati<span class=\"_ _2\"></span>on charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c40 y5bd8 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c41 y5bd8 w383 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(26<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c42 y5bd8 w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x47e y5bd8 w84d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c43 y5bd8 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>273<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c44 y5afa w8eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c45 y5afa w607 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,550<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c46 y5afa w9eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>31)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c47 y5afa w197 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c48 y5afa w717 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,629)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61b2 w9ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c49 y61b2 w825 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4a y61b2 w3d0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6c ws1ca\">1,64<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4b y61b2 wb8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4c y61b2 w197 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4d y61b2 wd4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4e y5a16 w825 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4f y5a16 w7ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>417<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c50 y5a16 w9ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c51 y5a16 wac h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c52 y5a16 w9ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>45<span class=\"_ _3bd\"> </span></div></td></tr></table>2023<span class=\"_ _3bd\"> </span><table class=\"s w9f0 h2a9\" id=\"_4276fd90-b750-4c0c-af2f-686b57983444\"><tr><td></td><td></td><td class=\"t m0 xbff ha y61b3 ff2 fs5 fc3 sc0 ls21 ws23\">Acquire<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> in-forc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x17a4 ha y61b4 ff2 fs5 fc3 sc0 ls21 ws23\">Good<span class=\"_ _0\"></span>will<span class=\"_ _2\"></span> </td><td class=\"t m0 x491 ha y61b4 ff2 fs5 fc3 sc0 ls21 ws23\">busine<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48e ha y61b4 ff2 fs5 fc3 sc0 ls11 ws11\">Brands<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y61b4 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x921 ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y61b6 ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y61b7 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c53 y61b7 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c54 y61b7 w9f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,180<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c55 y61b7 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3df y61b7 w1a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">4,<span class=\"_ _0\"></span>368<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y61b8 ff2 fs6 fc3 sc0 ls1 ws1\">Acquis<span class=\"_ _0\"></span>ition of Phoen<span class=\"_ _0\"></span>ix Life C<span class=\"_ _2\"></span>A H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted  </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c62 w9f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(Forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a UK Limited)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c56 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c57 y5c62 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c58 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c59 y5c62 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5f w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5a y5d5f w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5b y5d5f w9f3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">4,19<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5c y5d5f w3f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5d y5d5f w9f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4,<span class=\"_ _0\"></span>384<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y61b9 ff3 fs6 fc3 sc0 ls1a ws1b\">Amor<span class=\"_ _0\"></span>tisation and impa<span class=\"_ _0\"></span>ir<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5bb2 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5e y5bb2 w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5f y5bb2 w310 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,<span class=\"_ _0\"></span>966<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c60 y5bb2 w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(19)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c61 y5bb2 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,0<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bb3 w9ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Amor<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ati<span class=\"_ _2\"></span>on charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0c y5bb3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c62 y5bb3 w9f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(<span class=\"_ _0\"></span>290<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c63 y5bb3 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c64 y5bb3 w290 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(29<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w9f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>irment charg<span class=\"_ _0\"></span>e for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c65 y5bd8 w28e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c66 y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c67 y5bd8 w9f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c68 y5afa w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c69 y5afa w9f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,28<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6a y5afa w705 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6b y5afa w9f9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(2<span class=\"_ _0\"></span>,356<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w9fa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 Decem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1636 y5b24 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2f y5b24 w7bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>912<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6c y5b24 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6d y5b24 wd5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6e y5a16 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6f y5a16 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,654<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c70 y5a16 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c71 y5a16 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>G2.1 Goodwill<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing value of goo<span class=\"_ _0\"></span>dwill has b<span class=\"_ _0\"></span>een teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt at the year en<span class=\"_ _0\"></span>d and the res<span class=\"_ _0\"></span>ults of this exercis<span class=\"_ _0\"></span>e are detaile<span class=\"_ _0\"></span>d below.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill with a ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value of \u00a310 milli<span class=\"_ _0\"></span>on (2023: \u00a31<span class=\"_ _0\"></span>0 million) was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed on the ac<span class=\"_ _0\"></span>quisition of A<span class=\"_ _0\"></span>XA Wealt<span class=\"_ _0\"></span>h during 201<span class=\"_ _0\"></span>6 and has b<span class=\"_ _0\"></span>een<span class=\"_ _3bd\"> </span>alloc<span class=\"_ _0\"></span>ated to the Pens<span class=\"_ _0\"></span>ions &amp; Saving<span class=\"_ _0\"></span>s and Europe &amp; O<span class=\"_ _0\"></span>ther se<span class=\"_ _0\"></span>gment<span class=\"_ _0\"></span>s. This rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s the value of the work<span class=\"_ _0\"></span>force as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d the potential for f<span class=\"_ _0\"></span>uture<span class=\"_ _3bd\"> </span>value c<span class=\"_ _0\"></span>reation, wh<span class=\"_ _0\"></span>ich relates to the a<span class=\"_ _0\"></span>bility to inves<span class=\"_ _0\"></span>t in and grow the S<span class=\"_ _0\"></span>unLife bran<span class=\"_ _0\"></span>d. V<span class=\"_ _2\"></span>alue in us<span class=\"_ _0\"></span>e has be<span class=\"_ _0\"></span>en determine<span class=\"_ _0\"></span>d as the pres<span class=\"_ _0\"></span>ent value of ce<span class=\"_ _0\"></span>rtain<span class=\"_ _3bd\"> </span>future c<span class=\"_ _0\"></span>ash flows a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated with tha<span class=\"_ _0\"></span>t busines<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>ash flows u<span class=\"_ _0\"></span>sed in the c<span class=\"_ _0\"></span>alculation a<span class=\"_ _0\"></span>re consis<span class=\"_ _0\"></span>tent with thos<span class=\"_ _0\"></span>e adopted by ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent in the<span class=\"_ _3bd\"> </span>Group\u2019s oper<span class=\"_ _0\"></span>ating plan<span class=\"_ _0\"></span>, and for the pe<span class=\"_ _0\"></span>riod 2028 an<span class=\"_ _0\"></span>d beyond, a<span class=\"_ _0\"></span>ssume a zero g<span class=\"_ _0\"></span>rowth rate. T<span class=\"_ _0\"></span>he underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>umptions of thes<span class=\"_ _0\"></span>e proje<span class=\"_ _0\"></span>ctions inc<span class=\"_ _0\"></span>lude<span class=\"_ _3bd\"> </span>market sha<span class=\"_ _0\"></span>re, custom<span class=\"_ _0\"></span>er numbe<span class=\"_ _0\"></span>rs, c<span class=\"_ _0\"></span>ommissi<span class=\"_ _0\"></span>on rates and ex<span class=\"_ _0\"></span>pense infl<span class=\"_ _0\"></span>ation. The c<span class=\"_ _0\"></span>ash flows h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een valu<span class=\"_ _0\"></span>ed at a risk ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d discount rate of 1<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span>(2023<span class=\"_ _0\"></span>: 14<span class=\"_ _2\"></span>%) that m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s prudent all<span class=\"_ _0\"></span>owance for the r<span class=\"_ _0\"></span>isk that fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s may differ from t<span class=\"_ _0\"></span>hat ass<span class=\"_ _0\"></span>umed.<span class=\"_ _3bd\"> </span>This tes<span class=\"_ _0\"></span>t demon<span class=\"_ _0\"></span>strated t<span class=\"_ _0\"></span>hat value in use w<span class=\"_ _0\"></span>as greater th<span class=\"_ _0\"></span>an carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>. Given the ma<span class=\"_ _0\"></span>gnitude of the e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ess of the val<span class=\"_ _0\"></span>ue in use over ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value,<span class=\"_ _3bd\"> </span>man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt does not b<span class=\"_ _0\"></span>elieve that a reas<span class=\"_ _0\"></span>onably fore<span class=\"_ _0\"></span>seea<span class=\"_ _0\"></span>ble chang<span class=\"_ _0\"></span>e in k<span class=\"_ _2\"></span>ey a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s would ca<span class=\"_ _0\"></span>use the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value to excee<span class=\"_ _0\"></span>d value in use<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>G2<span class=\"_ _0\"></span>.2 Ac<span class=\"_ _0\"></span>quire<span class=\"_ _0\"></span>d in-fo<span class=\"_ _0\"></span>rce bus<span class=\"_ _0\"></span>ines<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>A<span class=\"_ _2\"></span>VIF on inves<span class=\"_ _0\"></span>tment c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF is amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d in line with eme<span class=\"_ _0\"></span>rgence of e<span class=\"_ _0\"></span>conomic b<span class=\"_ _0\"></span>enefits ove<span class=\"_ _0\"></span>r their expe<span class=\"_ _0\"></span>cted term<span class=\"_ _0\"></span>. A<span class=\"_ _4\"></span>VI<span class=\"_ _0\"></span>F balanc<span class=\"_ _0\"></span>es are as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed for impairm<span class=\"_ _0\"></span>ent where an in<span class=\"_ _0\"></span>dicator of impairm<span class=\"_ _0\"></span>ent has be<span class=\"_ _0\"></span>en identifie<span class=\"_ _0\"></span>d and non<span class=\"_ _0\"></span>e were identifie<span class=\"_ _0\"></span>d and none we<span class=\"_ _0\"></span>re identified in e<span class=\"_ _0\"></span>ither the current o<span class=\"_ _0\"></span>r prior perio<span class=\"_ _0\"></span>ds.<span class=\"_ _3bd\"> </span>A<span class=\"_ _2\"></span>VIF of \u00a3<span class=\"_ _0\"></span>16 million was re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised durin<span class=\"_ _0\"></span>g 2023 upon ac<span class=\"_ _0\"></span>quisition of Pho<span class=\"_ _0\"></span>enix Life CA Holdin<span class=\"_ _0\"></span>gs Limited (formerl<span class=\"_ _0\"></span>y known as S<span class=\"_ _0\"></span>LF o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada U<span class=\"_ _0\"></span>K Limited<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails are includ<span class=\"_ _0\"></span>ed in note H2.<span class=\"_ _3bd\"> </span>On 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, the Group entere<span class=\"_ _0\"></span>d into an agre<span class=\"_ _0\"></span>ement with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc to simplif<span class=\"_ _0\"></span>y the arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents of their St<span class=\"_ _0\"></span>rategic Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship. Unde<span class=\"_ _0\"></span>r the terms of the tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion, th<span class=\"_ _0\"></span>e Group agre<span class=\"_ _0\"></span>ed to sell it<span class=\"_ _0\"></span>s UK investm<span class=\"_ _0\"></span>ent and plat<span class=\"_ _0\"></span>form relate<span class=\"_ _0\"></span>d produc<span class=\"_ _0\"></span>ts, c<span class=\"_ _0\"></span>omprising Wrap S<span class=\"_ _0\"></span>IPP<span class=\"_ _4\"></span>, O<span class=\"_ _0\"></span>nshore b<span class=\"_ _0\"></span>ond and U<span class=\"_ _0\"></span>K TIP to Abe<span class=\"_ _0\"></span>rdeen Gro<span class=\"_ _0\"></span>up plc through a Pa<span class=\"_ _0\"></span>rt VII tr<span class=\"_ _0\"></span>ansfer. In 2021<span class=\"_ _0\"></span>, the balan<span class=\"_ _0\"></span>ces in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position re<span class=\"_ _0\"></span>lating to this bu<span class=\"_ _0\"></span>siness we<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as a dispo<span class=\"_ _0\"></span>sal group h<span class=\"_ _0\"></span>eld for sale<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The tota<span class=\"_ _0\"></span>l procee<span class=\"_ _0\"></span>ds of dispos<span class=\"_ _0\"></span>al for this busin<span class=\"_ _0\"></span>ess were n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>ted to excee<span class=\"_ _0\"></span>d the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue of the related n<span class=\"_ _0\"></span>et asse<span class=\"_ _0\"></span>ts and ac<span class=\"_ _0\"></span>cordingl<span class=\"_ _0\"></span>y the dispo<span class=\"_ _0\"></span>sal group wa<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised at fa<span class=\"_ _0\"></span>ir value les<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s to sell. The va<span class=\"_ _0\"></span>lue of the A<span class=\"_ _2\"></span>VIF at 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, which relate<span class=\"_ _0\"></span>d to the SIP<span class=\"_ _0\"></span>P and Onsh<span class=\"_ _0\"></span>ore busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>, was \u00a3122 m<span class=\"_ _0\"></span>illion and an initia<span class=\"_ _0\"></span>l impairment c<span class=\"_ _0\"></span>harge of \u00a359 millio<span class=\"_ _0\"></span>n was reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t the date of the tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n. Furth<span class=\"_ _0\"></span>er impairme<span class=\"_ _0\"></span>nt charge<span class=\"_ _0\"></span>s have subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y been re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed each ye<span class=\"_ _0\"></span>ar up to 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>23 (2023: \u00a32<span class=\"_ _0\"></span>8 million).<span class=\"_ _3bd\"> </span>As at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023<span class=\"_ _0\"></span>, it had b<span class=\"_ _0\"></span>een agre<span class=\"_ _0\"></span>ed with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc that th<span class=\"_ _0\"></span>e insured fun<span class=\"_ _0\"></span>ds eleme<span class=\"_ _0\"></span>nt of the W<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ap SIPP a<span class=\"_ _0\"></span>nd Onsh<span class=\"_ _0\"></span>ore Bond busin<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s would no lon<span class=\"_ _0\"></span>ger tran<span class=\"_ _0\"></span>sfer to Aberd<span class=\"_ _0\"></span>een Group (s<span class=\"_ _0\"></span>ee note H3 for fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails). As a result<span class=\"_ _0\"></span>, this busine<span class=\"_ _0\"></span>ss no lon<span class=\"_ _0\"></span>ger met th<span class=\"_ _0\"></span>e requirem<span class=\"_ _0\"></span>ents to be cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale. Cons<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, the A<span class=\"_ _2\"></span>VI<span class=\"_ _0\"></span>F<span class=\"_ _4\"></span>, whic<span class=\"_ _0\"></span>h had a car<span class=\"_ _0\"></span>rying v<span class=\"_ _0\"></span>alue of \u00a39 million at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2023<span class=\"_ _0\"></span>, was no lo<span class=\"_ _0\"></span>nger de<span class=\"_ _0\"></span>ducted fro<span class=\"_ _0\"></span>m the A<span class=\"_ _2\"></span>VI<span class=\"_ _0\"></span>F line item repor<span class=\"_ _0\"></span>ted in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on. The rem<span class=\"_ _0\"></span>aining A<span class=\"_ _2\"></span>VIF h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n fully amor<span class=\"_ _0\"></span>tised d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod in line with th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e econo<span class=\"_ _0\"></span>mic risk and rew<span class=\"_ _0\"></span>ards for this busin<span class=\"_ _0\"></span>ess to Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc via the p<span class=\"_ _0\"></span>rofit transfer a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span>G2.3 Brands<span class=\"_ _3bd\"> </span>An intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>set was rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at cost o<span class=\"_ _0\"></span>n acquisiti<span class=\"_ _0\"></span>on of AX<span class=\"_ _0\"></span>A Wealth and rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s the value at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the Sun<span class=\"_ _0\"></span>Lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>rand as at<span class=\"_ gs47\"> </span>1 Novemb<span class=\"_ _0\"></span>er 201<span class=\"_ _0\"></span>6. The int<span class=\"_ _0\"></span>angible as<span class=\"_ _0\"></span>set was va<span class=\"_ _0\"></span>lued on a \u2018multi-pe<span class=\"_ _0\"></span>riod exces<span class=\"_ _0\"></span>s earnin<span class=\"_ _0\"></span>gs\u2019 basis an<span class=\"_ _0\"></span>d was reco<span class=\"_ _0\"></span>gnised at a c<span class=\"_ _0\"></span>ost of \u00a320 m<span class=\"_ _0\"></span>illion. Impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing was per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d in a combine<span class=\"_ _0\"></span>d test with th<span class=\"_ _0\"></span>e AX<span class=\"_ _0\"></span>A goo<span class=\"_ _0\"></span>dwill (see se<span class=\"_ _0\"></span>ction G2.1). The val<span class=\"_ _0\"></span>ue in use contin<span class=\"_ _0\"></span>ues to excee<span class=\"_ _0\"></span>d its ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value. T<span class=\"_ _0\"></span>his brand int<span class=\"_ _0\"></span>angible is b<span class=\"_ _0\"></span>eing amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d over a 10 year p<span class=\"_ _0\"></span>eriod. Th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of th<span class=\"_ _0\"></span>e AX<span class=\"_ _0\"></span>A Wealth bran<span class=\"_ _0\"></span>d as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 is \u00a33 million (2<span class=\"_ _0\"></span>023: \u00a36 million).<span class=\"_ _3bd\"> </span>On 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, the Group entere<span class=\"_ _0\"></span>d into an agre<span class=\"_ _0\"></span>ement to acq<span class=\"_ _0\"></span>uire owners<span class=\"_ _0\"></span>hip o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Standa<span class=\"_ _0\"></span>rd Lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>rand as pa<span class=\"_ _0\"></span>rt of a large<span class=\"_ _0\"></span>r transa<span class=\"_ _0\"></span>ction with Aber<span class=\"_ _0\"></span>deen Gro<span class=\"_ _0\"></span>up plc, whic<span class=\"_ _0\"></span>h transfer<span class=\"_ _0\"></span>red to the Group in M<span class=\"_ _0\"></span>ay 2021<span class=\"_ _0\"></span>. The Stan<span class=\"_ _0\"></span>dard Life brand wa<span class=\"_ _0\"></span>s initially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at a value of \u00a3111 m<span class=\"_ _0\"></span>illion which repre<span class=\"_ _0\"></span>sented the f<span class=\"_ _0\"></span>air value at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to the brand a<span class=\"_ _0\"></span>s at the trans<span class=\"_ _0\"></span>action d<span class=\"_ _0\"></span>ate. The intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>set was value<span class=\"_ _0\"></span>d on a \u2018multi-perio<span class=\"_ _0\"></span>d excess e<span class=\"_ _0\"></span>arnings\u2019 basi<span class=\"_ _0\"></span>s and is bein<span class=\"_ _0\"></span>g amor<span class=\"_ _0\"></span>tised over a pe<span class=\"_ _0\"></span>riod of 30 yea<span class=\"_ _0\"></span>rs. Th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of the S<span class=\"_ _0\"></span>tandard Life br<span class=\"_ _0\"></span>and as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024 is \u00a397 million (2023<span class=\"_ _0\"></span>:<span class=\"_ gs47\"> </span>\u00a310<span class=\"_ _0\"></span>0 million).<span class=\"_ _3bd\"> </span>G2.4 Internally<span class=\"_ _2\"></span> generated soft<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>are assets<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s st<span class=\"_ _0\"></span>rategic pri<span class=\"_ _0\"></span>orities are to \u2018grow, optimise an<span class=\"_ _0\"></span>d enhanc<span class=\"_ _0\"></span>e\u2018 the busin<span class=\"_ _0\"></span>ess thro<span class=\"_ _0\"></span>ugh investm<span class=\"_ _0\"></span>ent. As a res<span class=\"_ _0\"></span>ult of its investm<span class=\"_ _0\"></span>ent in new tech<span class=\"_ _0\"></span>nolog<span class=\"_ _0\"></span>y and s<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>tw<span class=\"_ _0\"></span>are capabili<span class=\"_ _0\"></span>ty, the Group h<span class=\"_ _0\"></span>as met the re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s to capitali<span class=\"_ _0\"></span>se internally g<span class=\"_ _0\"></span>enerate<span class=\"_ _0\"></span>d soft<span class=\"_ _0\"></span>ware cos<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>. During 2024, th<span class=\"_ _0\"></span>e Group cap<span class=\"_ _0\"></span>italise<span class=\"_ _0\"></span>d \u00a32<span class=\"_ _0\"></span>9 million (2023: \u00a3nil) of develo<span class=\"_ _0\"></span>pment cos<span class=\"_ _0\"></span>ts and a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed \u00a31 milli<span class=\"_ _0\"></span>on of these co<span class=\"_ _0\"></span>sts (2023<span class=\"_ _0\"></span>: \u00a3nil).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-596": {
   "value": "G2. Intangible asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Goodwill<span class=\"_ _3bd\"> </span>Busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbinations are a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for by applying t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion metho<span class=\"_ _0\"></span>d. Good<span class=\"_ _0\"></span>will represe<span class=\"_ _0\"></span>nts the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the cos<span class=\"_ _0\"></span>t of the<span class=\"_ _3bd\"> </span>acq<span class=\"_ _0\"></span>uisition and th<span class=\"_ _0\"></span>e fair value of the ne<span class=\"_ _0\"></span>t identifiabl<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at cos<span class=\"_ _0\"></span>t. Following ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, g<span class=\"_ _0\"></span>oodwill is s<span class=\"_ _0\"></span>tated at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s any accum<span class=\"_ _0\"></span>ulated impair<span class=\"_ _0\"></span>ment loss<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is not amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d but is tes<span class=\"_ _0\"></span>ted for impairm<span class=\"_ _0\"></span>ent annuall<span class=\"_ _0\"></span>y or when the<span class=\"_ _0\"></span>re is evidenc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ossible im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>. For impairme<span class=\"_ _0\"></span>nt t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>,<span class=\"_ _3bd\"> </span>go<span class=\"_ _0\"></span>odwill is alloc<span class=\"_ _0\"></span>ated to relevant c<span class=\"_ _0\"></span>ash ge<span class=\"_ _0\"></span>nerating un<span class=\"_ _0\"></span>its. G<span class=\"_ _0\"></span>oodwill is imp<span class=\"_ _0\"></span>aired when th<span class=\"_ _0\"></span>e recovera<span class=\"_ _0\"></span>ble amount is le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In ce<span class=\"_ _0\"></span>rtain a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s an exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e acquirer<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in the net fair va<span class=\"_ _0\"></span>lue of the acquire<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s ide<span class=\"_ _0\"></span>ntifiable as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, liabilitie<span class=\"_ _0\"></span>s, contin<span class=\"_ _0\"></span>gent liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>and n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r cost m<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>rise. Whe<span class=\"_ _0\"></span>re this occur<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus of the fair va<span class=\"_ _0\"></span>lue of net ass<span class=\"_ _0\"></span>ets ac<span class=\"_ _0\"></span>quired over the fair v<span class=\"_ _0\"></span>alue of the<span class=\"_ _3bd\"> </span>con<span class=\"_ _0\"></span>sideration i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Acquir<span class=\"_ _2\"></span>ed in-force<span class=\"_ _2\"></span> business (<span class=\"_ _2\"></span>\u2018<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>VIF\u2019)<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>cquired in b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinatio<span class=\"_ _0\"></span>ns and por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e at the time of acq<span class=\"_ _0\"></span>uisition.<span class=\"_ _3bd\"> </span>At initial re<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n the A<span class=\"_ _4\"></span>V<span class=\"_ _0\"></span>IF repres<span class=\"_ _0\"></span>ents the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the fair val<span class=\"_ _0\"></span>ue of the contra<span class=\"_ _0\"></span>ctual rig<span class=\"_ _0\"></span>hts acquire<span class=\"_ _0\"></span>d and oblig<span class=\"_ _0\"></span>ations as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>the liab<span class=\"_ _0\"></span>ility me<span class=\"_ _0\"></span>asured in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicies. T<span class=\"_ _0\"></span>he liabilit<span class=\"_ _0\"></span>y meas<span class=\"_ _0\"></span>ured in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th the Group\u2019s acco<span class=\"_ _0\"></span>unting<span class=\"_ _3bd\"> </span>polic<span class=\"_ _0\"></span>ies is determin<span class=\"_ _0\"></span>ed using a val<span class=\"_ _0\"></span>uation techn<span class=\"_ _0\"></span>ique to provide a relia<span class=\"_ _0\"></span>ble estim<span class=\"_ _0\"></span>ate of the amount for whi<span class=\"_ _0\"></span>ch the liabilit<span class=\"_ _0\"></span>y could b<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>rred in an<span class=\"_ _3bd\"> </span>order<span class=\"_ _0\"></span>ly transa<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n market part<span class=\"_ _0\"></span>icipants at th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment date, s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a minimum equa<span class=\"_ _0\"></span>l to the surrend<span class=\"_ _0\"></span>er value. This a<span class=\"_ _0\"></span>cquired<span class=\"_ _3bd\"> </span>in-force bu<span class=\"_ _0\"></span>siness is a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed on a diminis<span class=\"_ _0\"></span>hing balan<span class=\"_ _0\"></span>ce basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>An impair<span class=\"_ _0\"></span>ment review is p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is an indic<span class=\"_ _0\"></span>ation of impairm<span class=\"_ _0\"></span>ent. Whe<span class=\"_ _0\"></span>n the recover<span class=\"_ _0\"></span>able amount i<span class=\"_ _0\"></span>s less tha<span class=\"_ _0\"></span>n the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue,<span class=\"_ _3bd\"> </span>an impair<span class=\"_ _0\"></span>ment los<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>The a<span class=\"_ _0\"></span>cquired in-force b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s is allocate<span class=\"_ _0\"></span>d to relevant ca<span class=\"_ _0\"></span>sh gene<span class=\"_ _0\"></span>rating unit<span class=\"_ _0\"></span>s for the purpo<span class=\"_ _0\"></span>ses of impairm<span class=\"_ _0\"></span>ent testin<span class=\"_ _0\"></span>g.<span class=\"_ _3bd\"> </span>Brands<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition at cos<span class=\"_ _0\"></span>t. The co<span class=\"_ _0\"></span>st of an intang<span class=\"_ _0\"></span>ible ass<span class=\"_ _0\"></span>et acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combin<span class=\"_ _0\"></span>ation is the fair val<span class=\"_ _0\"></span>ue as at the<span class=\"_ _3bd\"> </span>date of the ac<span class=\"_ _0\"></span>quisition<span class=\"_ _0\"></span>. The cos<span class=\"_ _0\"></span>t of an intangibl<span class=\"_ _0\"></span>e asset a<span class=\"_ _0\"></span>cquired in exch<span class=\"_ _0\"></span>ange for a n<span class=\"_ _0\"></span>on-monet<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>sset is me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value as at the d<span class=\"_ _0\"></span>ate of<span class=\"_ _3bd\"> </span>the tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion. Followin<span class=\"_ _0\"></span>g initial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>, the brand a<span class=\"_ _0\"></span>nd other co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets are c<span class=\"_ _0\"></span>arried at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s accum<span class=\"_ _0\"></span>ulated<span class=\"_ _3bd\"> </span>amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion and any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of bran<span class=\"_ _0\"></span>ds ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated usef<span class=\"_ _0\"></span>ul lives. Th<span class=\"_ _0\"></span>ey are teste<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span>impairm<span class=\"_ _0\"></span>ent whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is evide<span class=\"_ _0\"></span>nce of pos<span class=\"_ _0\"></span>sible impairm<span class=\"_ _0\"></span>ent. For impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing, the<span class=\"_ _0\"></span>y are allocate<span class=\"_ _0\"></span>d to the relevant c<span class=\"_ _0\"></span>ash gen<span class=\"_ _0\"></span>erating unit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are impaire<span class=\"_ _0\"></span>d when the re<span class=\"_ _0\"></span>coverable am<span class=\"_ _0\"></span>ount is les<span class=\"_ _0\"></span>s than the c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value.<span class=\"_ _3bd\"> </span>Internall<span class=\"_ _2\"></span>y generated software assets<span class=\"_ _3bd\"> </span>Intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>sets aris<span class=\"_ _0\"></span>ing from develop<span class=\"_ _0\"></span>ment cos<span class=\"_ _0\"></span>ts are ca<span class=\"_ _0\"></span>pitalise<span class=\"_ _0\"></span>d when it ha<span class=\"_ _0\"></span>s been es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed that th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>t is technic<span class=\"_ _0\"></span>ally and fin<span class=\"_ _0\"></span>ancially<span class=\"_ _3bd\"> </span>feasib<span class=\"_ _0\"></span>le and the Gro<span class=\"_ _0\"></span>up has both th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion and the ab<span class=\"_ _0\"></span>ility to us<span class=\"_ _0\"></span>e the comple<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>et. Interna<span class=\"_ _0\"></span>lly gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are measure<span class=\"_ _0\"></span>d on<span class=\"_ _3bd\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion at cost w<span class=\"_ _0\"></span>hich compr<span class=\"_ _0\"></span>ises all direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y to create, p<span class=\"_ _0\"></span>roduce an<span class=\"_ _0\"></span>d prepare the a<span class=\"_ _0\"></span>sset to be c<span class=\"_ _0\"></span>apable of<span class=\"_ _3bd\"> </span>ope<span class=\"_ _0\"></span>rating in the ma<span class=\"_ _0\"></span>nner intend<span class=\"_ _0\"></span>ed by mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. Following initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition, the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at cost le<span class=\"_ _0\"></span>ss ac<span class=\"_ _0\"></span>cumulated am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and<span class=\"_ _3bd\"> </span>any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of the intern<span class=\"_ _0\"></span>ally gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated<span class=\"_ _3bd\"> </span>usef<span class=\"_ _0\"></span>ul lives which is es<span class=\"_ _0\"></span>timated to b<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en 3 and 1<span class=\"_ _0\"></span>0 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars. T<span class=\"_ _0\"></span>hey are teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt whenever th<span class=\"_ _0\"></span>ere is eviden<span class=\"_ _0\"></span>ce of possib<span class=\"_ _0\"></span>le impairme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span><table class=\"s w9e4 h2a8\" id=\"_b04c0cc8-2b11-486a-ae2a-d51ce69c7501\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xac2 h29 y61ab ff3 fs5 fc3 sc0 lsbe wsbe\">Other intangible assets<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x801 h29 y61ac ff3 fs5 fc3 sc0 ls22 ws24\">Internally </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x648 h29 y61ad ff3 fs5 fc3 sc0 ls65 wsc0\">Acquired in-force </td><td></td><td class=\"t m0 x783 h29 y61ad ff3 fs5 fc3 sc0 lsbe wsbe\">generated<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y61ae ff3 fs5 fc3 sc0 ls11 ws11\">Goodwill<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xec4 h29 y61ae ff3 fs5 fc3 sc0 ls8d ws86\">business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1c2b h29 y61ae ff3 fs5 fc3 sc0 ls8d ws86\">Brands</td><td class=\"t m0 x53f h29 y61ae ff3 fs5 fc3 sc0 lsbe wsbe\"> software assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y61ae ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y61af ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y61b0 ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c62 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2c y5c62 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2d y5c62 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,1<span class=\"_ _0\"></span>96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2e y5c62 w2a7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2f y5c62 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c30 y5c62 w9e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">4,38<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60f1 w9e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Additions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c31 y60f1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c32 y60f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c33 y60f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c34 y60f1 w19c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c35 y60f1 w8f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w9e7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c36 y5a68 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c37 y5a68 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,1<span class=\"_ _0\"></span>96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c38 y5a68 w2a7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c39 y5a68 w19c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3a y5a68 w7ea h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">4<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y61b1 ff3 fs6 fc3 sc0 ls1a ws1b\">Amor<span class=\"_ _0\"></span>tisation and impa<span class=\"_ _0\"></span>ir<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6122 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3b y6122 w9e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(47<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3c y6122 w425 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3d y6122 w20b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3e y6122 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3f y6122 w9e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,356)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w9ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Amor<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ati<span class=\"_ _2\"></span>on charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c40 y5bd8 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c41 y5bd8 w383 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(26<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c42 y5bd8 w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x47e y5bd8 w84d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c43 y5bd8 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>273<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c44 y5afa w8eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c45 y5afa w607 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,550<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c46 y5afa w9eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>31)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c47 y5afa w197 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c48 y5afa w717 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,629)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61b2 w9ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c49 y61b2 w825 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4a y61b2 w3d0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6c ws1ca\">1,64<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4b y61b2 wb8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4c y61b2 w197 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4d y61b2 wd4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4e y5a16 w825 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4f y5a16 w7ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>417<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c50 y5a16 w9ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c51 y5a16 wac h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c52 y5a16 w9ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>45<span class=\"_ _3bd\"> </span></div></td></tr></table>2023<span class=\"_ _3bd\"> </span><table class=\"s w9f0 h2a9\" id=\"_4276fd90-b750-4c0c-af2f-686b57983444\"><tr><td></td><td></td><td class=\"t m0 xbff ha y61b3 ff2 fs5 fc3 sc0 ls21 ws23\">Acquire<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> in-forc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x17a4 ha y61b4 ff2 fs5 fc3 sc0 ls21 ws23\">Good<span class=\"_ _0\"></span>will<span class=\"_ _2\"></span> </td><td class=\"t m0 x491 ha y61b4 ff2 fs5 fc3 sc0 ls21 ws23\">busine<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48e ha y61b4 ff2 fs5 fc3 sc0 ls11 ws11\">Brands<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y61b4 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x921 ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y61b6 ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y61b7 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c53 y61b7 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c54 y61b7 w9f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,180<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c55 y61b7 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3df y61b7 w1a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">4,<span class=\"_ _0\"></span>368<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y61b8 ff2 fs6 fc3 sc0 ls1 ws1\">Acquis<span class=\"_ _0\"></span>ition of Phoen<span class=\"_ _0\"></span>ix Life C<span class=\"_ _2\"></span>A H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted  </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c62 w9f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(Forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a UK Limited)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c56 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c57 y5c62 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c58 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c59 y5c62 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5f w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5a y5d5f w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5b y5d5f w9f3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">4,19<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5c y5d5f w3f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5d y5d5f w9f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4,<span class=\"_ _0\"></span>384<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y61b9 ff3 fs6 fc3 sc0 ls1a ws1b\">Amor<span class=\"_ _0\"></span>tisation and impa<span class=\"_ _0\"></span>ir<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5bb2 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5e y5bb2 w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5f y5bb2 w310 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,<span class=\"_ _0\"></span>966<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c60 y5bb2 w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(19)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c61 y5bb2 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,0<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bb3 w9ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Amor<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ati<span class=\"_ _2\"></span>on charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0c y5bb3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c62 y5bb3 w9f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(<span class=\"_ _0\"></span>290<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c63 y5bb3 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c64 y5bb3 w290 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(29<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w9f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>irment charg<span class=\"_ _0\"></span>e for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c65 y5bd8 w28e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c66 y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c67 y5bd8 w9f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c68 y5afa w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c69 y5afa w9f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,28<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6a y5afa w705 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6b y5afa w9f9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(2<span class=\"_ _0\"></span>,356<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w9fa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 Decem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1636 y5b24 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2f y5b24 w7bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>912<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6c y5b24 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6d y5b24 wd5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6e y5a16 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6f y5a16 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,654<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c70 y5a16 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c71 y5a16 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>G2.1 Goodwill<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing value of goo<span class=\"_ _0\"></span>dwill has b<span class=\"_ _0\"></span>een teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt at the year en<span class=\"_ _0\"></span>d and the res<span class=\"_ _0\"></span>ults of this exercis<span class=\"_ _0\"></span>e are detaile<span class=\"_ _0\"></span>d below.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill with a ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value of \u00a310 milli<span class=\"_ _0\"></span>on (2023: \u00a31<span class=\"_ _0\"></span>0 million) was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed on the ac<span class=\"_ _0\"></span>quisition of A<span class=\"_ _0\"></span>XA Wealt<span class=\"_ _0\"></span>h during 201<span class=\"_ _0\"></span>6 and has b<span class=\"_ _0\"></span>een<span class=\"_ _3bd\"> </span>alloc<span class=\"_ _0\"></span>ated to the Pens<span class=\"_ _0\"></span>ions &amp; Saving<span class=\"_ _0\"></span>s and Europe &amp; O<span class=\"_ _0\"></span>ther se<span class=\"_ _0\"></span>gment<span class=\"_ _0\"></span>s. This rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s the value of the work<span class=\"_ _0\"></span>force as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d the potential for f<span class=\"_ _0\"></span>uture<span class=\"_ _3bd\"> </span>value c<span class=\"_ _0\"></span>reation, wh<span class=\"_ _0\"></span>ich relates to the a<span class=\"_ _0\"></span>bility to inves<span class=\"_ _0\"></span>t in and grow the S<span class=\"_ _0\"></span>unLife bran<span class=\"_ _0\"></span>d. V<span class=\"_ _2\"></span>alue in us<span class=\"_ _0\"></span>e has be<span class=\"_ _0\"></span>en determine<span class=\"_ _0\"></span>d as the pres<span class=\"_ _0\"></span>ent value of ce<span class=\"_ _0\"></span>rtain<span class=\"_ _3bd\"> </span>future c<span class=\"_ _0\"></span>ash flows a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated with tha<span class=\"_ _0\"></span>t busines<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>ash flows u<span class=\"_ _0\"></span>sed in the c<span class=\"_ _0\"></span>alculation a<span class=\"_ _0\"></span>re consis<span class=\"_ _0\"></span>tent with thos<span class=\"_ _0\"></span>e adopted by ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent in the<span class=\"_ _3bd\"> </span>Group\u2019s oper<span class=\"_ _0\"></span>ating plan<span class=\"_ _0\"></span>, and for the pe<span class=\"_ _0\"></span>riod 2028 an<span class=\"_ _0\"></span>d beyond, a<span class=\"_ _0\"></span>ssume a zero g<span class=\"_ _0\"></span>rowth rate. T<span class=\"_ _0\"></span>he underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>umptions of thes<span class=\"_ _0\"></span>e proje<span class=\"_ _0\"></span>ctions inc<span class=\"_ _0\"></span>lude<span class=\"_ _3bd\"> </span>market sha<span class=\"_ _0\"></span>re, custom<span class=\"_ _0\"></span>er numbe<span class=\"_ _0\"></span>rs, c<span class=\"_ _0\"></span>ommissi<span class=\"_ _0\"></span>on rates and ex<span class=\"_ _0\"></span>pense infl<span class=\"_ _0\"></span>ation. The c<span class=\"_ _0\"></span>ash flows h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een valu<span class=\"_ _0\"></span>ed at a risk ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d discount rate of 1<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span>(2023<span class=\"_ _0\"></span>: 14<span class=\"_ _2\"></span>%) that m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s prudent all<span class=\"_ _0\"></span>owance for the r<span class=\"_ _0\"></span>isk that fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s may differ from t<span class=\"_ _0\"></span>hat ass<span class=\"_ _0\"></span>umed.<span class=\"_ _3bd\"> </span>This tes<span class=\"_ _0\"></span>t demon<span class=\"_ _0\"></span>strated t<span class=\"_ _0\"></span>hat value in use w<span class=\"_ _0\"></span>as greater th<span class=\"_ _0\"></span>an carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>. Given the ma<span class=\"_ _0\"></span>gnitude of the e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ess of the val<span class=\"_ _0\"></span>ue in use over ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value,<span class=\"_ _3bd\"> </span>man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt does not b<span class=\"_ _0\"></span>elieve that a reas<span class=\"_ _0\"></span>onably fore<span class=\"_ _0\"></span>seea<span class=\"_ _0\"></span>ble chang<span class=\"_ _0\"></span>e in k<span class=\"_ _2\"></span>ey a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s would ca<span class=\"_ _0\"></span>use the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value to excee<span class=\"_ _0\"></span>d value in use<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gs95b\">G2<span class=\"_ _0\"></span>.2 Ac<span class=\"_ _0\"></span>quire<span class=\"_ _0\"></span>d in-fo<span class=\"_ _0\"></span>rce bus<span class=\"_ _0\"></span>ines<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs95c\">A<span class=\"_ _2\"></span>VIF on inves<span class=\"_ _0\"></span>tment c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF is amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d in line with eme<span class=\"_ _0\"></span>rgence of e<span class=\"_ _0\"></span>conomic b<span class=\"_ _0\"></span>enefits ove<span class=\"_ _0\"></span>r their expe<span class=\"_ _0\"></span>cted term<span class=\"_ _0\"></span>. A<span class=\"_ _4\"></span>VI<span class=\"_ _0\"></span>F balanc<span class=\"_ _0\"></span>es are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs95d\">as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed for impairm<span class=\"_ _0\"></span>ent where an in<span class=\"_ _0\"></span>dicator of impairm<span class=\"_ _0\"></span>ent has be<span class=\"_ _0\"></span>en identifie<span class=\"_ _0\"></span>d and non<span class=\"_ _0\"></span>e were identifie<span class=\"_ _0\"></span>d and none we<span class=\"_ _0\"></span>re identified in e<span class=\"_ _0\"></span>ither the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs95e\">current o<span class=\"_ _0\"></span>r prior perio<span class=\"_ _0\"></span>ds.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs95f\">A<span class=\"_ _2\"></span>VIF of \u00a3<span class=\"_ _0\"></span>16 million was re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised durin<span class=\"_ _0\"></span>g 2023 upon ac<span class=\"_ _0\"></span>quisition of Pho<span class=\"_ _0\"></span>enix Life CA Holdin<span class=\"_ _0\"></span>gs Limited (formerl<span class=\"_ _0\"></span>y known as S<span class=\"_ _0\"></span>LF o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada U<span class=\"_ _0\"></span>K </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs960\">Limited<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails are includ<span class=\"_ _0\"></span>ed in note H2.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs961\">On 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, the Group entere<span class=\"_ _0\"></span>d into an agre<span class=\"_ _0\"></span>ement with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc to simplif<span class=\"_ _0\"></span>y the arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents of their St<span class=\"_ _0\"></span>rategic Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs962\">Unde<span class=\"_ _0\"></span>r the terms of the tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion, th<span class=\"_ _0\"></span>e Group agre<span class=\"_ _0\"></span>ed to sell it<span class=\"_ _0\"></span>s UK investm<span class=\"_ _0\"></span>ent and plat<span class=\"_ _0\"></span>form relate<span class=\"_ _0\"></span>d produc<span class=\"_ _0\"></span>ts, c<span class=\"_ _0\"></span>omprising Wrap S<span class=\"_ _0\"></span>IPP<span class=\"_ _4\"></span>, O<span class=\"_ _0\"></span>nshore b<span class=\"_ _0\"></span>ond </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs963\">and U<span class=\"_ _0\"></span>K TIP to Abe<span class=\"_ _0\"></span>rdeen Gro<span class=\"_ _0\"></span>up plc through a Pa<span class=\"_ _0\"></span>rt VII tr<span class=\"_ _0\"></span>ansfer. In 2021<span class=\"_ _0\"></span>, the balan<span class=\"_ _0\"></span>ces in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position re<span class=\"_ _0\"></span>lating to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs964\">this bu<span class=\"_ _0\"></span>siness we<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as a dispo<span class=\"_ _0\"></span>sal group h<span class=\"_ _0\"></span>eld for sale<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs965\">The tota<span class=\"_ _0\"></span>l procee<span class=\"_ _0\"></span>ds of dispos<span class=\"_ _0\"></span>al for this busin<span class=\"_ _0\"></span>ess were n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>ted to excee<span class=\"_ _0\"></span>d the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue of the related n<span class=\"_ _0\"></span>et asse<span class=\"_ _0\"></span>ts and ac<span class=\"_ _0\"></span>cordingl<span class=\"_ _0\"></span>y the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs966\">dispo<span class=\"_ _0\"></span>sal group wa<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised at fa<span class=\"_ _0\"></span>ir value les<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s to sell. The va<span class=\"_ _0\"></span>lue of the A<span class=\"_ _2\"></span>VIF at 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, which relate<span class=\"_ _0\"></span>d to the SIP<span class=\"_ _0\"></span>P and Onsh<span class=\"_ _0\"></span>ore </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs967\">busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>, was \u00a3122 m<span class=\"_ _0\"></span>illion and an initia<span class=\"_ _0\"></span>l impairment c<span class=\"_ _0\"></span>harge of \u00a359 millio<span class=\"_ _0\"></span>n was reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t the date of the tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n. Furth<span class=\"_ _0\"></span>er impairme<span class=\"_ _0\"></span>nt charge<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs968\">have subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y been re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed each ye<span class=\"_ _0\"></span>ar up to 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>23 (2023: \u00a32<span class=\"_ _0\"></span>8 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs969\">As at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023<span class=\"_ _0\"></span>, it had b<span class=\"_ _0\"></span>een agre<span class=\"_ _0\"></span>ed with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc that th<span class=\"_ _0\"></span>e insured fun<span class=\"_ _0\"></span>ds eleme<span class=\"_ _0\"></span>nt of the W<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ap SIPP a<span class=\"_ _0\"></span>nd Onsh<span class=\"_ _0\"></span>ore Bond </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs96a\">busin<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s would no lon<span class=\"_ _0\"></span>ger tran<span class=\"_ _0\"></span>sfer to Aberd<span class=\"_ _0\"></span>een Group (s<span class=\"_ _0\"></span>ee note H3 for fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails). As a result<span class=\"_ _0\"></span>, this busine<span class=\"_ _0\"></span>ss no lon<span class=\"_ _0\"></span>ger met th<span class=\"_ _0\"></span>e requirem<span class=\"_ _0\"></span>ents to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs96b\">be cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale. Cons<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, the A<span class=\"_ _2\"></span>VI<span class=\"_ _0\"></span>F<span class=\"_ _4\"></span>, whic<span class=\"_ _0\"></span>h had a car<span class=\"_ _0\"></span>rying v<span class=\"_ _0\"></span>alue of \u00a39 million at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2023<span class=\"_ _0\"></span>, was no lo<span class=\"_ _0\"></span>nger de<span class=\"_ _0\"></span>ducted fro<span class=\"_ _0\"></span>m </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs96c\">the A<span class=\"_ _2\"></span>VI<span class=\"_ _0\"></span>F line item repor<span class=\"_ _0\"></span>ted in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on. The rem<span class=\"_ _0\"></span>aining A<span class=\"_ _2\"></span>VIF h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n fully amor<span class=\"_ _0\"></span>tised d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs96d\">line with th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e econo<span class=\"_ _0\"></span>mic risk and rew<span class=\"_ _0\"></span>ards for this busin<span class=\"_ _0\"></span>ess to Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc via the p<span class=\"_ _0\"></span>rofit transfer a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls20 ws22 gs96e\">G2.3 Brands<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs96f\">An intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>set was rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at cost o<span class=\"_ _0\"></span>n acquisiti<span class=\"_ _0\"></span>on of AX<span class=\"_ _0\"></span>A Wealth and rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s the value at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the Sun<span class=\"_ _0\"></span>Lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>rand as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs970\">at<span class=\"_ gs47\"> </span>1 Novemb<span class=\"_ _0\"></span>er 201<span class=\"_ _0\"></span>6. The int<span class=\"_ _0\"></span>angible as<span class=\"_ _0\"></span>set was va<span class=\"_ _0\"></span>lued on a \u2018multi-pe<span class=\"_ _0\"></span>riod exces<span class=\"_ _0\"></span>s earnin<span class=\"_ _0\"></span>gs\u2019 basis an<span class=\"_ _0\"></span>d was reco<span class=\"_ _0\"></span>gnised at a c<span class=\"_ _0\"></span>ost of \u00a320 m<span class=\"_ _0\"></span>illion. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs971\">Impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing was per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d in a combine<span class=\"_ _0\"></span>d test with th<span class=\"_ _0\"></span>e AX<span class=\"_ _0\"></span>A goo<span class=\"_ _0\"></span>dwill (see se<span class=\"_ _0\"></span>ction G2.1). The val<span class=\"_ _0\"></span>ue in use contin<span class=\"_ _0\"></span>ues to excee<span class=\"_ _0\"></span>d its ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs972\">value. T<span class=\"_ _0\"></span>his brand int<span class=\"_ _0\"></span>angible is b<span class=\"_ _0\"></span>eing amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d over a 10 year p<span class=\"_ _0\"></span>eriod. Th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of th<span class=\"_ _0\"></span>e AX<span class=\"_ _0\"></span>A Wealth bran<span class=\"_ _0\"></span>d as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs973\">\u00a33 million (2<span class=\"_ _0\"></span>023: \u00a36 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs974\">On 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, the Group entere<span class=\"_ _0\"></span>d into an agre<span class=\"_ _0\"></span>ement to acq<span class=\"_ _0\"></span>uire owners<span class=\"_ _0\"></span>hip o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Standa<span class=\"_ _0\"></span>rd Lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>rand as pa<span class=\"_ _0\"></span>rt of a large<span class=\"_ _0\"></span>r transa<span class=\"_ _0\"></span>ction with </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs975\">Aber<span class=\"_ _0\"></span>deen Gro<span class=\"_ _0\"></span>up plc, whic<span class=\"_ _0\"></span>h transfer<span class=\"_ _0\"></span>red to the Group in M<span class=\"_ _0\"></span>ay 2021<span class=\"_ _0\"></span>. The Stan<span class=\"_ _0\"></span>dard Life brand wa<span class=\"_ _0\"></span>s initially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at a value of \u00a3111 m<span class=\"_ _0\"></span>illion which </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs976\">repre<span class=\"_ _0\"></span>sented the f<span class=\"_ _0\"></span>air value at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to the brand a<span class=\"_ _0\"></span>s at the trans<span class=\"_ _0\"></span>action d<span class=\"_ _0\"></span>ate. The intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>set was value<span class=\"_ _0\"></span>d on a \u2018multi-perio<span class=\"_ _0\"></span>d excess e<span class=\"_ _0\"></span>arnings\u2019 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs977\">basi<span class=\"_ _0\"></span>s and is bein<span class=\"_ _0\"></span>g amor<span class=\"_ _0\"></span>tised over a pe<span class=\"_ _0\"></span>riod of 30 yea<span class=\"_ _0\"></span>rs. Th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of the S<span class=\"_ _0\"></span>tandard Life br<span class=\"_ _0\"></span>and as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024 is \u00a397 million </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs978\">(2023<span class=\"_ _0\"></span>:<span class=\"_ gs47\"> </span>\u00a310<span class=\"_ _0\"></span>0 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gs979\">G2.4 Internally<span class=\"_ _2\"></span> generated soft<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>are assets<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs97a\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s st<span class=\"_ _0\"></span>rategic pri<span class=\"_ _0\"></span>orities are to \u2018grow, optimise an<span class=\"_ _0\"></span>d enhanc<span class=\"_ _0\"></span>e\u2018 the busin<span class=\"_ _0\"></span>ess thro<span class=\"_ _0\"></span>ugh investm<span class=\"_ _0\"></span>ent. As a res<span class=\"_ _0\"></span>ult of its investm<span class=\"_ _0\"></span>ent in new tech<span class=\"_ _0\"></span>nolog<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs97b\">and s<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>tw<span class=\"_ _0\"></span>are capabili<span class=\"_ _0\"></span>ty, the Group h<span class=\"_ _0\"></span>as met the re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s to capitali<span class=\"_ _0\"></span>se internally g<span class=\"_ _0\"></span>enerate<span class=\"_ _0\"></span>d soft<span class=\"_ _0\"></span>ware cos<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>. During 2024, th<span class=\"_ _0\"></span>e Group cap<span class=\"_ _0\"></span>italise<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs97c\">\u00a32<span class=\"_ _0\"></span>9 million (2023: \u00a3nil) of develo<span class=\"_ _0\"></span>pment cos<span class=\"_ _0\"></span>ts and a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed \u00a31 milli<span class=\"_ _0\"></span>on of these co<span class=\"_ _0\"></span>sts (2023<span class=\"_ _0\"></span>: \u00a3nil).</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-650": {
   "value": "G2. Intangible asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Goodwill<span class=\"_ _3bd\"> </span>Busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbinations are a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for by applying t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion metho<span class=\"_ _0\"></span>d. Good<span class=\"_ _0\"></span>will represe<span class=\"_ _0\"></span>nts the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the cos<span class=\"_ _0\"></span>t of the<span class=\"_ _3bd\"> </span>acq<span class=\"_ _0\"></span>uisition and th<span class=\"_ _0\"></span>e fair value of the ne<span class=\"_ _0\"></span>t identifiabl<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at cos<span class=\"_ _0\"></span>t. Following ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, g<span class=\"_ _0\"></span>oodwill is s<span class=\"_ _0\"></span>tated at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s any accum<span class=\"_ _0\"></span>ulated impair<span class=\"_ _0\"></span>ment loss<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is not amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d but is tes<span class=\"_ _0\"></span>ted for impairm<span class=\"_ _0\"></span>ent annuall<span class=\"_ _0\"></span>y or when the<span class=\"_ _0\"></span>re is evidenc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ossible im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>. For impairme<span class=\"_ _0\"></span>nt t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>,<span class=\"_ _3bd\"> </span>go<span class=\"_ _0\"></span>odwill is alloc<span class=\"_ _0\"></span>ated to relevant c<span class=\"_ _0\"></span>ash ge<span class=\"_ _0\"></span>nerating un<span class=\"_ _0\"></span>its. G<span class=\"_ _0\"></span>oodwill is imp<span class=\"_ _0\"></span>aired when th<span class=\"_ _0\"></span>e recovera<span class=\"_ _0\"></span>ble amount is le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In ce<span class=\"_ _0\"></span>rtain a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s an exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e acquirer<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in the net fair va<span class=\"_ _0\"></span>lue of the acquire<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s ide<span class=\"_ _0\"></span>ntifiable as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, liabilitie<span class=\"_ _0\"></span>s, contin<span class=\"_ _0\"></span>gent liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>and n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r cost m<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>rise. Whe<span class=\"_ _0\"></span>re this occur<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus of the fair va<span class=\"_ _0\"></span>lue of net ass<span class=\"_ _0\"></span>ets ac<span class=\"_ _0\"></span>quired over the fair v<span class=\"_ _0\"></span>alue of the<span class=\"_ _3bd\"> </span>con<span class=\"_ _0\"></span>sideration i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Acquir<span class=\"_ _2\"></span>ed in-force<span class=\"_ _2\"></span> business (<span class=\"_ _2\"></span>\u2018<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>VIF\u2019)<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>cquired in b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinatio<span class=\"_ _0\"></span>ns and por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e at the time of acq<span class=\"_ _0\"></span>uisition.<span class=\"_ _3bd\"> </span>At initial re<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n the A<span class=\"_ _4\"></span>V<span class=\"_ _0\"></span>IF repres<span class=\"_ _0\"></span>ents the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the fair val<span class=\"_ _0\"></span>ue of the contra<span class=\"_ _0\"></span>ctual rig<span class=\"_ _0\"></span>hts acquire<span class=\"_ _0\"></span>d and oblig<span class=\"_ _0\"></span>ations as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>the liab<span class=\"_ _0\"></span>ility me<span class=\"_ _0\"></span>asured in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicies. T<span class=\"_ _0\"></span>he liabilit<span class=\"_ _0\"></span>y meas<span class=\"_ _0\"></span>ured in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th the Group\u2019s acco<span class=\"_ _0\"></span>unting<span class=\"_ _3bd\"> </span>polic<span class=\"_ _0\"></span>ies is determin<span class=\"_ _0\"></span>ed using a val<span class=\"_ _0\"></span>uation techn<span class=\"_ _0\"></span>ique to provide a relia<span class=\"_ _0\"></span>ble estim<span class=\"_ _0\"></span>ate of the amount for whi<span class=\"_ _0\"></span>ch the liabilit<span class=\"_ _0\"></span>y could b<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>rred in an<span class=\"_ _3bd\"> </span>order<span class=\"_ _0\"></span>ly transa<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n market part<span class=\"_ _0\"></span>icipants at th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment date, s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a minimum equa<span class=\"_ _0\"></span>l to the surrend<span class=\"_ _0\"></span>er value. This a<span class=\"_ _0\"></span>cquired<span class=\"_ _3bd\"> </span>in-force bu<span class=\"_ _0\"></span>siness is a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed on a diminis<span class=\"_ _0\"></span>hing balan<span class=\"_ _0\"></span>ce basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>An impair<span class=\"_ _0\"></span>ment review is p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is an indic<span class=\"_ _0\"></span>ation of impairm<span class=\"_ _0\"></span>ent. Whe<span class=\"_ _0\"></span>n the recover<span class=\"_ _0\"></span>able amount i<span class=\"_ _0\"></span>s less tha<span class=\"_ _0\"></span>n the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue,<span class=\"_ _3bd\"> </span>an impair<span class=\"_ _0\"></span>ment los<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>The a<span class=\"_ _0\"></span>cquired in-force b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s is allocate<span class=\"_ _0\"></span>d to relevant ca<span class=\"_ _0\"></span>sh gene<span class=\"_ _0\"></span>rating unit<span class=\"_ _0\"></span>s for the purpo<span class=\"_ _0\"></span>ses of impairm<span class=\"_ _0\"></span>ent testin<span class=\"_ _0\"></span>g.<span class=\"_ _3bd\"> </span>Brands<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition at cos<span class=\"_ _0\"></span>t. The co<span class=\"_ _0\"></span>st of an intang<span class=\"_ _0\"></span>ible ass<span class=\"_ _0\"></span>et acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combin<span class=\"_ _0\"></span>ation is the fair val<span class=\"_ _0\"></span>ue as at the<span class=\"_ _3bd\"> </span>date of the ac<span class=\"_ _0\"></span>quisition<span class=\"_ _0\"></span>. The cos<span class=\"_ _0\"></span>t of an intangibl<span class=\"_ _0\"></span>e asset a<span class=\"_ _0\"></span>cquired in exch<span class=\"_ _0\"></span>ange for a n<span class=\"_ _0\"></span>on-monet<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>sset is me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value as at the d<span class=\"_ _0\"></span>ate of<span class=\"_ _3bd\"> </span>the tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion. Followin<span class=\"_ _0\"></span>g initial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>, the brand a<span class=\"_ _0\"></span>nd other co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets are c<span class=\"_ _0\"></span>arried at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s accum<span class=\"_ _0\"></span>ulated<span class=\"_ _3bd\"> </span>amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion and any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of bran<span class=\"_ _0\"></span>ds ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated usef<span class=\"_ _0\"></span>ul lives. Th<span class=\"_ _0\"></span>ey are teste<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span>impairm<span class=\"_ _0\"></span>ent whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is evide<span class=\"_ _0\"></span>nce of pos<span class=\"_ _0\"></span>sible impairm<span class=\"_ _0\"></span>ent. For impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing, the<span class=\"_ _0\"></span>y are allocate<span class=\"_ _0\"></span>d to the relevant c<span class=\"_ _0\"></span>ash gen<span class=\"_ _0\"></span>erating unit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are impaire<span class=\"_ _0\"></span>d when the re<span class=\"_ _0\"></span>coverable am<span class=\"_ _0\"></span>ount is les<span class=\"_ _0\"></span>s than the c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value.<span class=\"_ _3bd\"> </span>Internall<span class=\"_ _2\"></span>y generated software assets<span class=\"_ _3bd\"> </span>Intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>sets aris<span class=\"_ _0\"></span>ing from develop<span class=\"_ _0\"></span>ment cos<span class=\"_ _0\"></span>ts are ca<span class=\"_ _0\"></span>pitalise<span class=\"_ _0\"></span>d when it ha<span class=\"_ _0\"></span>s been es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed that th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>t is technic<span class=\"_ _0\"></span>ally and fin<span class=\"_ _0\"></span>ancially<span class=\"_ _3bd\"> </span>feasib<span class=\"_ _0\"></span>le and the Gro<span class=\"_ _0\"></span>up has both th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion and the ab<span class=\"_ _0\"></span>ility to us<span class=\"_ _0\"></span>e the comple<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>et. Interna<span class=\"_ _0\"></span>lly gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are measure<span class=\"_ _0\"></span>d on<span class=\"_ _3bd\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion at cost w<span class=\"_ _0\"></span>hich compr<span class=\"_ _0\"></span>ises all direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y to create, p<span class=\"_ _0\"></span>roduce an<span class=\"_ _0\"></span>d prepare the a<span class=\"_ _0\"></span>sset to be c<span class=\"_ _0\"></span>apable of<span class=\"_ _3bd\"> </span>ope<span class=\"_ _0\"></span>rating in the ma<span class=\"_ _0\"></span>nner intend<span class=\"_ _0\"></span>ed by mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. Following initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition, the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at cost le<span class=\"_ _0\"></span>ss ac<span class=\"_ _0\"></span>cumulated am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and<span class=\"_ _3bd\"> </span>any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of the intern<span class=\"_ _0\"></span>ally gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated<span class=\"_ _3bd\"> </span>usef<span class=\"_ _0\"></span>ul lives which is es<span class=\"_ _0\"></span>timated to b<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en 3 and 1<span class=\"_ _0\"></span>0 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars. T<span class=\"_ _0\"></span>hey are teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt whenever th<span class=\"_ _0\"></span>ere is eviden<span class=\"_ _0\"></span>ce of possib<span class=\"_ _0\"></span>le impairme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span><table class=\"s w9e4 h2a8\" id=\"_b04c0cc8-2b11-486a-ae2a-d51ce69c7501\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xac2 h29 y61ab ff3 fs5 fc3 sc0 lsbe wsbe\">Other intangible assets<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x801 h29 y61ac ff3 fs5 fc3 sc0 ls22 ws24\">Internally </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x648 h29 y61ad ff3 fs5 fc3 sc0 ls65 wsc0\">Acquired in-force </td><td></td><td class=\"t m0 x783 h29 y61ad ff3 fs5 fc3 sc0 lsbe wsbe\">generated<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 x53c h29 y61ae ff3 fs5 fc3 sc0 ls11 ws11\">Goodwill<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xec4 h29 y61ae ff3 fs5 fc3 sc0 ls8d ws86\">business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1c2b h29 y61ae ff3 fs5 fc3 sc0 ls8d ws86\">Brands</td><td class=\"t m0 x53f h29 y61ae ff3 fs5 fc3 sc0 lsbe wsbe\"> software assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y61ae ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h29 y61af ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x541 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y61af ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y61b0 ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c62 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2c y5c62 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2d y5c62 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,1<span class=\"_ _0\"></span>96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2e y5c62 w2a7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c2f y5c62 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c30 y5c62 w9e5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">4,38<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60f1 w9e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Additions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c31 y60f1 w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c32 y60f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c33 y60f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c34 y60f1 w19c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c35 y60f1 w8f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a68 w9e7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c36 y5a68 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c37 y5a68 w10e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">4,1<span class=\"_ _0\"></span>96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c38 y5a68 w2a7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c39 y5a68 w19c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3a y5a68 w7ea h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">4<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y61b1 ff3 fs6 fc3 sc0 ls1a ws1b\">Amor<span class=\"_ _0\"></span>tisation and impa<span class=\"_ _0\"></span>ir<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6122 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3b y6122 w9e8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(47<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3c y6122 w425 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">(2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3d y6122 w20b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3e y6122 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c3f y6122 w9e9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">(2,356)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w9ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Amor<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ati<span class=\"_ _2\"></span>on charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c40 y5bd8 w16d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c41 y5bd8 w383 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">(26<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c42 y5bd8 w250 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x47e y5bd8 w84d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c43 y5bd8 w27d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>273<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c44 y5afa w8eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c45 y5afa w607 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(2,550<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c46 y5afa w9eb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>31)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c47 y5afa w197 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c48 y5afa w717 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls6c ws1ca\">(2,629)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61b2 w9ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c49 y61b2 w825 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4a y61b2 w3d0 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls6c ws1ca\">1,64<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4b y61b2 wb8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4c y61b2 w197 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4d y61b2 wd4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls143 ws14f\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4e y5a16 w825 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c4f y5a16 w7ea h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>417<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c50 y5a16 w9ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">94<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c51 y5a16 wac h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c7 ws1df\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c52 y5a16 w9ef h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">1<span class=\"_ _0\"></span>,5<span class=\"_ _0\"></span>45<span class=\"_ _3bd\"> </span></div></td></tr></table>2023<span class=\"_ _3bd\"> </span><table class=\"s w9f0 h2a9\" id=\"_4276fd90-b750-4c0c-af2f-686b57983444\"><tr><td></td><td></td><td class=\"t m0 xbff ha y61b3 ff2 fs5 fc3 sc0 ls21 ws23\">Acquire<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> in-forc<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x17a4 ha y61b4 ff2 fs5 fc3 sc0 ls21 ws23\">Good<span class=\"_ _0\"></span>will<span class=\"_ _2\"></span> </td><td class=\"t m0 x491 ha y61b4 ff2 fs5 fc3 sc0 ls21 ws23\">busine<span class=\"_ _0\"></span>ss<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x48e ha y61b4 ff2 fs5 fc3 sc0 ls11 ws11\">Brands<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x607 ha y61b4 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x921 ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x972 ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28a ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y61b5 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h23 y61b6 ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y61b7 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c53 y61b7 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c54 y61b7 w9f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,180<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c55 y61b7 w26b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3df y61b7 w1a3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">4,<span class=\"_ _0\"></span>368<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y61b8 ff2 fs6 fc3 sc0 ls1 ws1\">Acquis<span class=\"_ _0\"></span>ition of Phoen<span class=\"_ _0\"></span>ix Life C<span class=\"_ _2\"></span>A H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted  </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5c62 w9f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(Forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a UK Limited)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c56 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c57 y5c62 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c58 y5c62 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c59 y5c62 w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5d5f w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5a y5d5f w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5b y5d5f w9f3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">4,19<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5c y5d5f w3f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">1<span class=\"_ _0\"></span>31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5d y5d5f w9f4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">4,<span class=\"_ _0\"></span>384<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c h23 y61b9 ff3 fs6 fc3 sc0 ls1a ws1b\">Amor<span class=\"_ _0\"></span>tisation and impa<span class=\"_ _0\"></span>ir<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y5bb2 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5e y5bb2 w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c5f y5bb2 w310 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1,<span class=\"_ _0\"></span>966<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c60 y5bb2 w1d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(19)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c61 y5bb2 w313 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>2,0<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bb3 w9ea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Amor<span class=\"_ _0\"></span>ti<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ati<span class=\"_ _2\"></span>on charg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0c y5bb3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c62 y5bb3 w9f5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(<span class=\"_ _0\"></span>290<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c63 y5bb3 w78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c64 y5bb3 w290 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">(29<span class=\"_ _0\"></span>6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bd8 w9f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Impa<span class=\"_ _0\"></span>irment charg<span class=\"_ _0\"></span>e for the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c65 y5bd8 w28e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c66 y5bd8 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c67 y5bd8 w9f7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa w9e7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c68 y5afa w4e4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">(<span class=\"_ _0\"></span>47<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c69 y5afa w9f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>2,28<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6a y5afa w705 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">(<span class=\"_ _0\"></span>25)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6b y5afa w9f9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(2<span class=\"_ _0\"></span>,356<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w9fa h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls37 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 Decem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1636 y5b24 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a2f y5b24 w7bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>912<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6c y5b24 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6d y5b24 wd5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">2<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>28<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6e y5a16 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c6f y5a16 w35b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5b ws1f8\">1<span class=\"_ _0\"></span>,654<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c70 y5a16 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c71 y5a16 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr></table>G2.1 Goodwill<span class=\"_ _3bd\"> </span>The c<span class=\"_ _0\"></span>arry<span class=\"_ _0\"></span>ing value of goo<span class=\"_ _0\"></span>dwill has b<span class=\"_ _0\"></span>een teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt at the year en<span class=\"_ _0\"></span>d and the res<span class=\"_ _0\"></span>ults of this exercis<span class=\"_ _0\"></span>e are detaile<span class=\"_ _0\"></span>d below.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill with a ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value of \u00a310 milli<span class=\"_ _0\"></span>on (2023: \u00a31<span class=\"_ _0\"></span>0 million) was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed on the ac<span class=\"_ _0\"></span>quisition of A<span class=\"_ _0\"></span>XA Wealt<span class=\"_ _0\"></span>h during 201<span class=\"_ _0\"></span>6 and has b<span class=\"_ _0\"></span>een<span class=\"_ _3bd\"> </span>alloc<span class=\"_ _0\"></span>ated to the Pens<span class=\"_ _0\"></span>ions &amp; Saving<span class=\"_ _0\"></span>s and Europe &amp; O<span class=\"_ _0\"></span>ther se<span class=\"_ _0\"></span>gment<span class=\"_ _0\"></span>s. This rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s the value of the work<span class=\"_ _0\"></span>force as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d the potential for f<span class=\"_ _0\"></span>uture<span class=\"_ _3bd\"> </span>value c<span class=\"_ _0\"></span>reation, wh<span class=\"_ _0\"></span>ich relates to the a<span class=\"_ _0\"></span>bility to inves<span class=\"_ _0\"></span>t in and grow the S<span class=\"_ _0\"></span>unLife bran<span class=\"_ _0\"></span>d. V<span class=\"_ _2\"></span>alue in us<span class=\"_ _0\"></span>e has be<span class=\"_ _0\"></span>en determine<span class=\"_ _0\"></span>d as the pres<span class=\"_ _0\"></span>ent value of ce<span class=\"_ _0\"></span>rtain<span class=\"_ _3bd\"> </span>future c<span class=\"_ _0\"></span>ash flows a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iated with tha<span class=\"_ _0\"></span>t busines<span class=\"_ _0\"></span>s. The c<span class=\"_ _0\"></span>ash flows u<span class=\"_ _0\"></span>sed in the c<span class=\"_ _0\"></span>alculation a<span class=\"_ _0\"></span>re consis<span class=\"_ _0\"></span>tent with thos<span class=\"_ _0\"></span>e adopted by ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent in the<span class=\"_ _3bd\"> </span>Group\u2019s oper<span class=\"_ _0\"></span>ating plan<span class=\"_ _0\"></span>, and for the pe<span class=\"_ _0\"></span>riod 2028 an<span class=\"_ _0\"></span>d beyond, a<span class=\"_ _0\"></span>ssume a zero g<span class=\"_ _0\"></span>rowth rate. T<span class=\"_ _0\"></span>he underl<span class=\"_ _0\"></span>ying ass<span class=\"_ _0\"></span>umptions of thes<span class=\"_ _0\"></span>e proje<span class=\"_ _0\"></span>ctions inc<span class=\"_ _0\"></span>lude<span class=\"_ _3bd\"> </span>market sha<span class=\"_ _0\"></span>re, custom<span class=\"_ _0\"></span>er numbe<span class=\"_ _0\"></span>rs, c<span class=\"_ _0\"></span>ommissi<span class=\"_ _0\"></span>on rates and ex<span class=\"_ _0\"></span>pense infl<span class=\"_ _0\"></span>ation. The c<span class=\"_ _0\"></span>ash flows h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>een valu<span class=\"_ _0\"></span>ed at a risk ad<span class=\"_ _0\"></span>juste<span class=\"_ _0\"></span>d discount rate of 1<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span>(2023<span class=\"_ _0\"></span>: 14<span class=\"_ _2\"></span>%) that m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s prudent all<span class=\"_ _0\"></span>owance for the r<span class=\"_ _0\"></span>isk that fut<span class=\"_ _0\"></span>ure cash flow<span class=\"_ _0\"></span>s may differ from t<span class=\"_ _0\"></span>hat ass<span class=\"_ _0\"></span>umed.<span class=\"_ _3bd\"> </span>This tes<span class=\"_ _0\"></span>t demon<span class=\"_ _0\"></span>strated t<span class=\"_ _0\"></span>hat value in use w<span class=\"_ _0\"></span>as greater th<span class=\"_ _0\"></span>an carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>. Given the ma<span class=\"_ _0\"></span>gnitude of the e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ess of the val<span class=\"_ _0\"></span>ue in use over ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value,<span class=\"_ _3bd\"> </span>man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt does not b<span class=\"_ _0\"></span>elieve that a reas<span class=\"_ _0\"></span>onably fore<span class=\"_ _0\"></span>seea<span class=\"_ _0\"></span>ble chang<span class=\"_ _0\"></span>e in k<span class=\"_ _2\"></span>ey a<span class=\"_ _0\"></span>ssumption<span class=\"_ _0\"></span>s would ca<span class=\"_ _0\"></span>use the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value to excee<span class=\"_ _0\"></span>d value in use<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>G2<span class=\"_ _0\"></span>.2 Ac<span class=\"_ _0\"></span>quire<span class=\"_ _0\"></span>d in-fo<span class=\"_ _0\"></span>rce bus<span class=\"_ _0\"></span>ines<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>A<span class=\"_ _2\"></span>VIF on inves<span class=\"_ _0\"></span>tment c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s without D<span class=\"_ _0\"></span>PF is amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d in line with eme<span class=\"_ _0\"></span>rgence of e<span class=\"_ _0\"></span>conomic b<span class=\"_ _0\"></span>enefits ove<span class=\"_ _0\"></span>r their expe<span class=\"_ _0\"></span>cted term<span class=\"_ _0\"></span>. A<span class=\"_ _4\"></span>VI<span class=\"_ _0\"></span>F balanc<span class=\"_ _0\"></span>es are as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ed for impairm<span class=\"_ _0\"></span>ent where an in<span class=\"_ _0\"></span>dicator of impairm<span class=\"_ _0\"></span>ent has be<span class=\"_ _0\"></span>en identifie<span class=\"_ _0\"></span>d and non<span class=\"_ _0\"></span>e were identifie<span class=\"_ _0\"></span>d and none we<span class=\"_ _0\"></span>re identified in e<span class=\"_ _0\"></span>ither the current o<span class=\"_ _0\"></span>r prior perio<span class=\"_ _0\"></span>ds.<span class=\"_ _3bd\"> </span>A<span class=\"_ _2\"></span>VIF of \u00a3<span class=\"_ _0\"></span>16 million was re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised durin<span class=\"_ _0\"></span>g 2023 upon ac<span class=\"_ _0\"></span>quisition of Pho<span class=\"_ _0\"></span>enix Life CA Holdin<span class=\"_ _0\"></span>gs Limited (formerl<span class=\"_ _0\"></span>y known as S<span class=\"_ _0\"></span>LF o<span class=\"_ _2\"></span>f C<span class=\"_ _0\"></span>anada U<span class=\"_ _0\"></span>K Limited<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. Fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ails are includ<span class=\"_ _0\"></span>ed in note H2.<span class=\"_ _3bd\"> </span>On 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, the Group entere<span class=\"_ _0\"></span>d into an agre<span class=\"_ _0\"></span>ement with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc to simplif<span class=\"_ _0\"></span>y the arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents of their St<span class=\"_ _0\"></span>rategic Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship. Unde<span class=\"_ _0\"></span>r the terms of the tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion, th<span class=\"_ _0\"></span>e Group agre<span class=\"_ _0\"></span>ed to sell it<span class=\"_ _0\"></span>s UK investm<span class=\"_ _0\"></span>ent and plat<span class=\"_ _0\"></span>form relate<span class=\"_ _0\"></span>d produc<span class=\"_ _0\"></span>ts, c<span class=\"_ _0\"></span>omprising Wrap S<span class=\"_ _0\"></span>IPP<span class=\"_ _4\"></span>, O<span class=\"_ _0\"></span>nshore b<span class=\"_ _0\"></span>ond and U<span class=\"_ _0\"></span>K TIP to Abe<span class=\"_ _0\"></span>rdeen Gro<span class=\"_ _0\"></span>up plc through a Pa<span class=\"_ _0\"></span>rt VII tr<span class=\"_ _0\"></span>ansfer. In 2021<span class=\"_ _0\"></span>, the balan<span class=\"_ _0\"></span>ces in the s<span class=\"_ _0\"></span>tatement of c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financia<span class=\"_ _0\"></span>l position re<span class=\"_ _0\"></span>lating to this bu<span class=\"_ _0\"></span>siness we<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as a dispo<span class=\"_ _0\"></span>sal group h<span class=\"_ _0\"></span>eld for sale<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The tota<span class=\"_ _0\"></span>l procee<span class=\"_ _0\"></span>ds of dispos<span class=\"_ _0\"></span>al for this busin<span class=\"_ _0\"></span>ess were n<span class=\"_ _0\"></span>ot expec<span class=\"_ _0\"></span>ted to excee<span class=\"_ _0\"></span>d the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue of the related n<span class=\"_ _0\"></span>et asse<span class=\"_ _0\"></span>ts and ac<span class=\"_ _0\"></span>cordingl<span class=\"_ _0\"></span>y the dispo<span class=\"_ _0\"></span>sal group wa<span class=\"_ _0\"></span>s recog<span class=\"_ _0\"></span>nised at fa<span class=\"_ _0\"></span>ir value les<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s to sell. The va<span class=\"_ _0\"></span>lue of the A<span class=\"_ _2\"></span>VIF at 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, which relate<span class=\"_ _0\"></span>d to the SIP<span class=\"_ _0\"></span>P and Onsh<span class=\"_ _0\"></span>ore busin<span class=\"_ _0\"></span>ess<span class=\"_ _0\"></span>, was \u00a3122 m<span class=\"_ _0\"></span>illion and an initia<span class=\"_ _0\"></span>l impairment c<span class=\"_ _0\"></span>harge of \u00a359 millio<span class=\"_ _0\"></span>n was reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>t the date of the tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n. Furth<span class=\"_ _0\"></span>er impairme<span class=\"_ _0\"></span>nt charge<span class=\"_ _0\"></span>s have subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y been re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed each ye<span class=\"_ _0\"></span>ar up to 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>23 (2023: \u00a32<span class=\"_ _0\"></span>8 million).<span class=\"_ _3bd\"> </span>As at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023<span class=\"_ _0\"></span>, it had b<span class=\"_ _0\"></span>een agre<span class=\"_ _0\"></span>ed with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc that th<span class=\"_ _0\"></span>e insured fun<span class=\"_ _0\"></span>ds eleme<span class=\"_ _0\"></span>nt of the W<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ap SIPP a<span class=\"_ _0\"></span>nd Onsh<span class=\"_ _0\"></span>ore Bond busin<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s would no lon<span class=\"_ _0\"></span>ger tran<span class=\"_ _0\"></span>sfer to Aberd<span class=\"_ _0\"></span>een Group (s<span class=\"_ _0\"></span>ee note H3 for fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails). As a result<span class=\"_ _0\"></span>, this busine<span class=\"_ _0\"></span>ss no lon<span class=\"_ _0\"></span>ger met th<span class=\"_ _0\"></span>e requirem<span class=\"_ _0\"></span>ents to be cla<span class=\"_ _0\"></span>ssifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale. Cons<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, the A<span class=\"_ _2\"></span>VI<span class=\"_ _0\"></span>F<span class=\"_ _4\"></span>, whic<span class=\"_ _0\"></span>h had a car<span class=\"_ _0\"></span>rying v<span class=\"_ _0\"></span>alue of \u00a39 million at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2023<span class=\"_ _0\"></span>, was no lo<span class=\"_ _0\"></span>nger de<span class=\"_ _0\"></span>ducted fro<span class=\"_ _0\"></span>m the A<span class=\"_ _2\"></span>VI<span class=\"_ _0\"></span>F line item repor<span class=\"_ _0\"></span>ted in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated st<span class=\"_ _0\"></span>atement of finan<span class=\"_ _0\"></span>cial positi<span class=\"_ _0\"></span>on. The rem<span class=\"_ _0\"></span>aining A<span class=\"_ _2\"></span>VIF h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n fully amor<span class=\"_ _0\"></span>tised d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod in line with th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e econo<span class=\"_ _0\"></span>mic risk and rew<span class=\"_ _0\"></span>ards for this busin<span class=\"_ _0\"></span>ess to Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc via the p<span class=\"_ _0\"></span>rofit transfer a<span class=\"_ _0\"></span>rrange<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span>G2.3 Brands<span class=\"_ _3bd\"> </span>An intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>set was rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at cost o<span class=\"_ _0\"></span>n acquisiti<span class=\"_ _0\"></span>on of AX<span class=\"_ _0\"></span>A Wealth and rep<span class=\"_ _0\"></span>resent<span class=\"_ _0\"></span>s the value at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble to the Sun<span class=\"_ _0\"></span>Lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>rand as at<span class=\"_ gs47\"> </span>1 Novemb<span class=\"_ _0\"></span>er 201<span class=\"_ _0\"></span>6. The int<span class=\"_ _0\"></span>angible as<span class=\"_ _0\"></span>set was va<span class=\"_ _0\"></span>lued on a \u2018multi-pe<span class=\"_ _0\"></span>riod exces<span class=\"_ _0\"></span>s earnin<span class=\"_ _0\"></span>gs\u2019 basis an<span class=\"_ _0\"></span>d was reco<span class=\"_ _0\"></span>gnised at a c<span class=\"_ _0\"></span>ost of \u00a320 m<span class=\"_ _0\"></span>illion. Impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing was per<span class=\"_ _0\"></span>forme<span class=\"_ _0\"></span>d in a combine<span class=\"_ _0\"></span>d test with th<span class=\"_ _0\"></span>e AX<span class=\"_ _0\"></span>A goo<span class=\"_ _0\"></span>dwill (see se<span class=\"_ _0\"></span>ction G2.1). The val<span class=\"_ _0\"></span>ue in use contin<span class=\"_ _0\"></span>ues to excee<span class=\"_ _0\"></span>d its ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value. T<span class=\"_ _0\"></span>his brand int<span class=\"_ _0\"></span>angible is b<span class=\"_ _0\"></span>eing amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d over a 10 year p<span class=\"_ _0\"></span>eriod. Th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of th<span class=\"_ _0\"></span>e AX<span class=\"_ _0\"></span>A Wealth bran<span class=\"_ _0\"></span>d as at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 is \u00a33 million (2<span class=\"_ _0\"></span>023: \u00a36 million).<span class=\"_ _3bd\"> </span>On 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, the Group entere<span class=\"_ _0\"></span>d into an agre<span class=\"_ _0\"></span>ement to acq<span class=\"_ _0\"></span>uire owners<span class=\"_ _0\"></span>hip o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Standa<span class=\"_ _0\"></span>rd Lif<span class=\"_ _2\"></span>e b<span class=\"_ _0\"></span>rand as pa<span class=\"_ _0\"></span>rt of a large<span class=\"_ _0\"></span>r transa<span class=\"_ _0\"></span>ction with Aber<span class=\"_ _0\"></span>deen Gro<span class=\"_ _0\"></span>up plc, whic<span class=\"_ _0\"></span>h transfer<span class=\"_ _0\"></span>red to the Group in M<span class=\"_ _0\"></span>ay 2021<span class=\"_ _0\"></span>. The Stan<span class=\"_ _0\"></span>dard Life brand wa<span class=\"_ _0\"></span>s initially rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d at a value of \u00a3111 m<span class=\"_ _0\"></span>illion which repre<span class=\"_ _0\"></span>sented the f<span class=\"_ _0\"></span>air value at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to the brand a<span class=\"_ _0\"></span>s at the trans<span class=\"_ _0\"></span>action d<span class=\"_ _0\"></span>ate. The intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>set was value<span class=\"_ _0\"></span>d on a \u2018multi-perio<span class=\"_ _0\"></span>d excess e<span class=\"_ _0\"></span>arnings\u2019 basi<span class=\"_ _0\"></span>s and is bein<span class=\"_ _0\"></span>g amor<span class=\"_ _0\"></span>tised over a pe<span class=\"_ _0\"></span>riod of 30 yea<span class=\"_ _0\"></span>rs. Th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value of the S<span class=\"_ _0\"></span>tandard Life br<span class=\"_ _0\"></span>and as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024 is \u00a397 million (2023<span class=\"_ _0\"></span>:<span class=\"_ gs47\"> </span>\u00a310<span class=\"_ _0\"></span>0 million).<span class=\"_ _3bd\"> </span>G2.4 Internally<span class=\"_ _2\"></span> generated soft<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>are assets<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s st<span class=\"_ _0\"></span>rategic pri<span class=\"_ _0\"></span>orities are to \u2018grow, optimise an<span class=\"_ _0\"></span>d enhanc<span class=\"_ _0\"></span>e\u2018 the busin<span class=\"_ _0\"></span>ess thro<span class=\"_ _0\"></span>ugh investm<span class=\"_ _0\"></span>ent. As a res<span class=\"_ _0\"></span>ult of its investm<span class=\"_ _0\"></span>ent in new tech<span class=\"_ _0\"></span>nolog<span class=\"_ _0\"></span>y and s<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>tw<span class=\"_ _0\"></span>are capabili<span class=\"_ _0\"></span>ty, the Group h<span class=\"_ _0\"></span>as met the re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s to capitali<span class=\"_ _0\"></span>se internally g<span class=\"_ _0\"></span>enerate<span class=\"_ _0\"></span>d soft<span class=\"_ _0\"></span>ware cos<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>. During 2024, th<span class=\"_ _0\"></span>e Group cap<span class=\"_ _0\"></span>italise<span class=\"_ _0\"></span>d \u00a32<span class=\"_ _0\"></span>9 million (2023: \u00a3nil) of develo<span class=\"_ _0\"></span>pment cos<span class=\"_ _0\"></span>ts and a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed \u00a31 milli<span class=\"_ _0\"></span>on of these co<span class=\"_ _0\"></span>sts (2023<span class=\"_ _0\"></span>: \u00a3nil).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-696": {
   "value": "Goodwill<span class=\"_ _3bd\"> </span>Busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbinations are a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for by applying t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion metho<span class=\"_ _0\"></span>d. Good<span class=\"_ _0\"></span>will represe<span class=\"_ _0\"></span>nts the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the cos<span class=\"_ _0\"></span>t of the<span class=\"_ _3bd\"> </span> acq<span class=\"_ _0\"></span>uisition and th<span class=\"_ _0\"></span>e fair value of the ne<span class=\"_ _0\"></span>t identifiabl<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at cos<span class=\"_ _0\"></span>t. Following ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, g<span class=\"_ _0\"></span>oodwill is s<span class=\"_ _0\"></span>tated at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s any accum<span class=\"_ _0\"></span>ulated impair<span class=\"_ _0\"></span>ment loss<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span> Goo<span class=\"_ _0\"></span>dwill is not amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d but is tes<span class=\"_ _0\"></span>ted for impairm<span class=\"_ _0\"></span>ent annuall<span class=\"_ _0\"></span>y or when the<span class=\"_ _0\"></span>re is evidenc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ossible im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>. For impairme<span class=\"_ _0\"></span>nt t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>,<span class=\"_ _3bd\"> </span> go<span class=\"_ _0\"></span>odwill is alloc<span class=\"_ _0\"></span>ated to relevant c<span class=\"_ _0\"></span>ash ge<span class=\"_ _0\"></span>nerating un<span class=\"_ _0\"></span>its. G<span class=\"_ _0\"></span>oodwill is imp<span class=\"_ _0\"></span>aired when th<span class=\"_ _0\"></span>e recovera<span class=\"_ _0\"></span>ble amount is le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In ce<span class=\"_ _0\"></span>rtain a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s an exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e acquirer<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in the net fair va<span class=\"_ _0\"></span>lue of the acquire<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s ide<span class=\"_ _0\"></span>ntifiable as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, liabilitie<span class=\"_ _0\"></span>s, contin<span class=\"_ _0\"></span>gent liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span> and n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r cost m<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>rise. Whe<span class=\"_ _0\"></span>re this occur<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus of the fair va<span class=\"_ _0\"></span>lue of net ass<span class=\"_ _0\"></span>ets ac<span class=\"_ _0\"></span>quired over the fair v<span class=\"_ _0\"></span>alue of the<span class=\"_ _3bd\"> </span> con<span class=\"_ _0\"></span>sideration i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-678": {
   "value": "Goodwill<span class=\"_ _3bd\"> </span>Busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbinations are a<span class=\"_ _0\"></span>ccounte<span class=\"_ _0\"></span>d for by applying t<span class=\"_ _0\"></span>he acquisi<span class=\"_ _0\"></span>tion metho<span class=\"_ _0\"></span>d. Good<span class=\"_ _0\"></span>will represe<span class=\"_ _0\"></span>nts the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwee<span class=\"_ _0\"></span>n the cos<span class=\"_ _0\"></span>t of the<span class=\"_ _3bd\"> </span>acq<span class=\"_ _0\"></span>uisition and th<span class=\"_ _0\"></span>e fair value of the ne<span class=\"_ _0\"></span>t identifiabl<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at cos<span class=\"_ _0\"></span>t. Following ini<span class=\"_ _0\"></span>tial reco<span class=\"_ _0\"></span>gnition, g<span class=\"_ _0\"></span>oodwill is s<span class=\"_ _0\"></span>tated at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s any accum<span class=\"_ _0\"></span>ulated impair<span class=\"_ _0\"></span>ment loss<span class=\"_ _0\"></span>es.<span class=\"_ _3bd\"> </span>Goo<span class=\"_ _0\"></span>dwill is not amo<span class=\"_ _0\"></span>rtise<span class=\"_ _0\"></span>d but is tes<span class=\"_ _0\"></span>ted for impairm<span class=\"_ _0\"></span>ent annuall<span class=\"_ _0\"></span>y or when the<span class=\"_ _0\"></span>re is evidenc<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f p<span class=\"_ _0\"></span>ossible im<span class=\"_ _0\"></span>pairment<span class=\"_ _0\"></span>. For impairme<span class=\"_ _0\"></span>nt t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>sting<span class=\"_ _0\"></span>,<span class=\"_ _3bd\"> </span>go<span class=\"_ _0\"></span>odwill is alloc<span class=\"_ _0\"></span>ated to relevant c<span class=\"_ _0\"></span>ash ge<span class=\"_ _0\"></span>nerating un<span class=\"_ _0\"></span>its. G<span class=\"_ _0\"></span>oodwill is imp<span class=\"_ _0\"></span>aired when th<span class=\"_ _0\"></span>e recovera<span class=\"_ _0\"></span>ble amount is le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying value<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In ce<span class=\"_ _0\"></span>rtain a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s an exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e acquirer<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in the net fair va<span class=\"_ _0\"></span>lue of the acquire<span class=\"_ _0\"></span>e\u2019<span class=\"_ _2\"></span>s ide<span class=\"_ _0\"></span>ntifiable as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, liabilitie<span class=\"_ _0\"></span>s, contin<span class=\"_ _0\"></span>gent liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span>and n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r cost m<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y a<span class=\"_ _0\"></span>rise. Whe<span class=\"_ _0\"></span>re this occur<span class=\"_ _0\"></span>s, the s<span class=\"_ _0\"></span>urplus of the fair va<span class=\"_ _0\"></span>lue of net ass<span class=\"_ _0\"></span>ets ac<span class=\"_ _0\"></span>quired over the fair v<span class=\"_ _0\"></span>alue of the<span class=\"_ _3bd\"> </span>con<span class=\"_ _0\"></span>sideration i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised in the c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e stateme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>Acquir<span class=\"_ _2\"></span>ed in-force<span class=\"_ _2\"></span> business (<span class=\"_ _2\"></span>\u2018<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>VIF\u2019)<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>cquired in b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinatio<span class=\"_ _0\"></span>ns and por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e at the time of acq<span class=\"_ _0\"></span>uisition.<span class=\"_ _3bd\"> </span>At initial re<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n the A<span class=\"_ _4\"></span>V<span class=\"_ _0\"></span>IF repres<span class=\"_ _0\"></span>ents the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the fair val<span class=\"_ _0\"></span>ue of the contra<span class=\"_ _0\"></span>ctual rig<span class=\"_ _0\"></span>hts acquire<span class=\"_ _0\"></span>d and oblig<span class=\"_ _0\"></span>ations as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>the liab<span class=\"_ _0\"></span>ility me<span class=\"_ _0\"></span>asured in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicies. T<span class=\"_ _0\"></span>he liabilit<span class=\"_ _0\"></span>y meas<span class=\"_ _0\"></span>ured in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th the Group\u2019s acco<span class=\"_ _0\"></span>unting<span class=\"_ _3bd\"> </span>polic<span class=\"_ _0\"></span>ies is determin<span class=\"_ _0\"></span>ed using a val<span class=\"_ _0\"></span>uation techn<span class=\"_ _0\"></span>ique to provide a relia<span class=\"_ _0\"></span>ble estim<span class=\"_ _0\"></span>ate of the amount for whi<span class=\"_ _0\"></span>ch the liabilit<span class=\"_ _0\"></span>y could b<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>rred in an<span class=\"_ _3bd\"> </span>order<span class=\"_ _0\"></span>ly transa<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n market part<span class=\"_ _0\"></span>icipants at th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment date, s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a minimum equa<span class=\"_ _0\"></span>l to the surrend<span class=\"_ _0\"></span>er value. This a<span class=\"_ _0\"></span>cquired<span class=\"_ _3bd\"> </span>in-force bu<span class=\"_ _0\"></span>siness is a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed on a diminis<span class=\"_ _0\"></span>hing balan<span class=\"_ _0\"></span>ce basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>An impair<span class=\"_ _0\"></span>ment review is p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is an indic<span class=\"_ _0\"></span>ation of impairm<span class=\"_ _0\"></span>ent. Whe<span class=\"_ _0\"></span>n the recover<span class=\"_ _0\"></span>able amount i<span class=\"_ _0\"></span>s less tha<span class=\"_ _0\"></span>n the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue,<span class=\"_ _3bd\"> </span>an impair<span class=\"_ _0\"></span>ment los<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>The a<span class=\"_ _0\"></span>cquired in-force b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s is allocate<span class=\"_ _0\"></span>d to relevant ca<span class=\"_ _0\"></span>sh gene<span class=\"_ _0\"></span>rating unit<span class=\"_ _0\"></span>s for the purpo<span class=\"_ _0\"></span>ses of impairm<span class=\"_ _0\"></span>ent testin<span class=\"_ _0\"></span>g.<span class=\"_ _3bd\"> </span>Brands<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition at cos<span class=\"_ _0\"></span>t. The co<span class=\"_ _0\"></span>st of an intang<span class=\"_ _0\"></span>ible ass<span class=\"_ _0\"></span>et acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combin<span class=\"_ _0\"></span>ation is the fair val<span class=\"_ _0\"></span>ue as at the<span class=\"_ _3bd\"> </span>date of the ac<span class=\"_ _0\"></span>quisition<span class=\"_ _0\"></span>. The cos<span class=\"_ _0\"></span>t of an intangibl<span class=\"_ _0\"></span>e asset a<span class=\"_ _0\"></span>cquired in exch<span class=\"_ _0\"></span>ange for a n<span class=\"_ _0\"></span>on-monet<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>sset is me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value as at the d<span class=\"_ _0\"></span>ate of<span class=\"_ _3bd\"> </span>the tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion. Followin<span class=\"_ _0\"></span>g initial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>, the brand a<span class=\"_ _0\"></span>nd other co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets are c<span class=\"_ _0\"></span>arried at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s accum<span class=\"_ _0\"></span>ulated<span class=\"_ _3bd\"> </span>amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion and any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of bran<span class=\"_ _0\"></span>ds ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated usef<span class=\"_ _0\"></span>ul lives. Th<span class=\"_ _0\"></span>ey are teste<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span>impairm<span class=\"_ _0\"></span>ent whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is evide<span class=\"_ _0\"></span>nce of pos<span class=\"_ _0\"></span>sible impairm<span class=\"_ _0\"></span>ent. For impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing, the<span class=\"_ _0\"></span>y are allocate<span class=\"_ _0\"></span>d to the relevant c<span class=\"_ _0\"></span>ash gen<span class=\"_ _0\"></span>erating unit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are impaire<span class=\"_ _0\"></span>d when the re<span class=\"_ _0\"></span>coverable am<span class=\"_ _0\"></span>ount is les<span class=\"_ _0\"></span>s than the c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value.<span class=\"_ _3bd\"> </span>Internall<span class=\"_ _2\"></span>y generated software assets<span class=\"_ _3bd\"> </span>Intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>sets aris<span class=\"_ _0\"></span>ing from develop<span class=\"_ _0\"></span>ment cos<span class=\"_ _0\"></span>ts are ca<span class=\"_ _0\"></span>pitalise<span class=\"_ _0\"></span>d when it ha<span class=\"_ _0\"></span>s been es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed that th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>t is technic<span class=\"_ _0\"></span>ally and fin<span class=\"_ _0\"></span>ancially<span class=\"_ _3bd\"> </span>feasib<span class=\"_ _0\"></span>le and the Gro<span class=\"_ _0\"></span>up has both th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion and the ab<span class=\"_ _0\"></span>ility to us<span class=\"_ _0\"></span>e the comple<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>et. Interna<span class=\"_ _0\"></span>lly gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are measure<span class=\"_ _0\"></span>d on<span class=\"_ _3bd\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion at cost w<span class=\"_ _0\"></span>hich compr<span class=\"_ _0\"></span>ises all direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y to create, p<span class=\"_ _0\"></span>roduce an<span class=\"_ _0\"></span>d prepare the a<span class=\"_ _0\"></span>sset to be c<span class=\"_ _0\"></span>apable of<span class=\"_ _3bd\"> </span>ope<span class=\"_ _0\"></span>rating in the ma<span class=\"_ _0\"></span>nner intend<span class=\"_ _0\"></span>ed by mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. Following initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition, the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at cost le<span class=\"_ _0\"></span>ss ac<span class=\"_ _0\"></span>cumulated am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and<span class=\"_ _3bd\"> </span>any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of the intern<span class=\"_ _0\"></span>ally gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated<span class=\"_ _3bd\"> </span>usef<span class=\"_ _0\"></span>ul lives which is es<span class=\"_ _0\"></span>timated to b<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en 3 and 1<span class=\"_ _0\"></span>0 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars. T<span class=\"_ _0\"></span>hey are teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt whenever th<span class=\"_ _0\"></span>ere is eviden<span class=\"_ _0\"></span>ce of possib<span class=\"_ _0\"></span>le impairme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-697": {
   "value": "Acquir<span class=\"_ _2\"></span>ed in-force<span class=\"_ _2\"></span> business (<span class=\"_ _2\"></span>\u2018<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>VIF\u2019)<span class=\"_ _3bd\"> </span>Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts wi<span class=\"_ _0\"></span>thout DPF a<span class=\"_ _0\"></span>cquired in b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s combinatio<span class=\"_ _0\"></span>ns and por<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o transfer<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at fair valu<span class=\"_ _0\"></span>e at the time of acq<span class=\"_ _0\"></span>uisition.<span class=\"_ _3bd\"> </span>At initial re<span class=\"_ _0\"></span>cognitio<span class=\"_ _0\"></span>n the A<span class=\"_ _4\"></span>V<span class=\"_ _0\"></span>IF repres<span class=\"_ _0\"></span>ents the dif<span class=\"_ _0\"></span>ference b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en the fair val<span class=\"_ _0\"></span>ue of the contra<span class=\"_ _0\"></span>ctual rig<span class=\"_ _0\"></span>hts acquire<span class=\"_ _0\"></span>d and oblig<span class=\"_ _0\"></span>ations as<span class=\"_ _0\"></span>sumed an<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>the liab<span class=\"_ _0\"></span>ility me<span class=\"_ _0\"></span>asured in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicies. T<span class=\"_ _0\"></span>he liabilit<span class=\"_ _0\"></span>y meas<span class=\"_ _0\"></span>ured in acc<span class=\"_ _0\"></span>ordance wi<span class=\"_ _0\"></span>th the Group\u2019s acco<span class=\"_ _0\"></span>unting<span class=\"_ _3bd\"> </span>polic<span class=\"_ _0\"></span>ies is determin<span class=\"_ _0\"></span>ed using a val<span class=\"_ _0\"></span>uation techn<span class=\"_ _0\"></span>ique to provide a relia<span class=\"_ _0\"></span>ble estim<span class=\"_ _0\"></span>ate of the amount for whi<span class=\"_ _0\"></span>ch the liabilit<span class=\"_ _0\"></span>y could b<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>rred in an<span class=\"_ _3bd\"> </span>order<span class=\"_ _0\"></span>ly transa<span class=\"_ _0\"></span>ction be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n market part<span class=\"_ _0\"></span>icipants at th<span class=\"_ _0\"></span>e measure<span class=\"_ _0\"></span>ment date, s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a minimum equa<span class=\"_ _0\"></span>l to the surrend<span class=\"_ _0\"></span>er value. This a<span class=\"_ _0\"></span>cquired<span class=\"_ _3bd\"> </span>in-force bu<span class=\"_ _0\"></span>siness is a<span class=\"_ _0\"></span>morti<span class=\"_ _0\"></span>sed on a diminis<span class=\"_ _0\"></span>hing balan<span class=\"_ _0\"></span>ce basis<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>An impair<span class=\"_ _0\"></span>ment review is p<span class=\"_ _0\"></span>erform<span class=\"_ _0\"></span>ed whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is an indic<span class=\"_ _0\"></span>ation of impairm<span class=\"_ _0\"></span>ent. Whe<span class=\"_ _0\"></span>n the recover<span class=\"_ _0\"></span>able amount i<span class=\"_ _0\"></span>s less tha<span class=\"_ _0\"></span>n the carr<span class=\"_ _0\"></span>ying val<span class=\"_ _0\"></span>ue,<span class=\"_ _3bd\"> </span>an impair<span class=\"_ _0\"></span>ment los<span class=\"_ _0\"></span>s is recog<span class=\"_ _0\"></span>nised in the c<span class=\"_ _0\"></span>onsolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent.<span class=\"_ _3bd\"> </span>The a<span class=\"_ _0\"></span>cquired in-force b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s is allocate<span class=\"_ _0\"></span>d to relevant ca<span class=\"_ _0\"></span>sh gene<span class=\"_ _0\"></span>rating unit<span class=\"_ _0\"></span>s for the purpo<span class=\"_ _0\"></span>ses of impairm<span class=\"_ _0\"></span>ent testin<span class=\"_ _0\"></span>g.<span class=\"_ _3bd\"> </span>Brands<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition at cos<span class=\"_ _0\"></span>t. The co<span class=\"_ _0\"></span>st of an intang<span class=\"_ _0\"></span>ible ass<span class=\"_ _0\"></span>et acquire<span class=\"_ _0\"></span>d in a busines<span class=\"_ _0\"></span>s combin<span class=\"_ _0\"></span>ation is the fair val<span class=\"_ _0\"></span>ue as at the<span class=\"_ _3bd\"> </span>date of the ac<span class=\"_ _0\"></span>quisition<span class=\"_ _0\"></span>. The cos<span class=\"_ _0\"></span>t of an intangibl<span class=\"_ _0\"></span>e asset a<span class=\"_ _0\"></span>cquired in exch<span class=\"_ _0\"></span>ange for a n<span class=\"_ _0\"></span>on-monet<span class=\"_ _0\"></span>ary a<span class=\"_ _0\"></span>sset is me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value as at the d<span class=\"_ _0\"></span>ate of<span class=\"_ _3bd\"> </span>the tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion. Followin<span class=\"_ _0\"></span>g initial reco<span class=\"_ _0\"></span>gnition<span class=\"_ _0\"></span>, the brand a<span class=\"_ _0\"></span>nd other co<span class=\"_ _0\"></span>ntractu<span class=\"_ _0\"></span>al arrang<span class=\"_ _0\"></span>ement inta<span class=\"_ _0\"></span>ngible as<span class=\"_ _0\"></span>sets are c<span class=\"_ _0\"></span>arried at c<span class=\"_ _0\"></span>ost les<span class=\"_ _0\"></span>s accum<span class=\"_ _0\"></span>ulated<span class=\"_ _3bd\"> </span>amor<span class=\"_ _0\"></span>tisat<span class=\"_ _0\"></span>ion and any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of bran<span class=\"_ _0\"></span>ds ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated usef<span class=\"_ _0\"></span>ul lives. Th<span class=\"_ _0\"></span>ey are teste<span class=\"_ _0\"></span>d f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span>impairm<span class=\"_ _0\"></span>ent whene<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r there is evide<span class=\"_ _0\"></span>nce of pos<span class=\"_ _0\"></span>sible impairm<span class=\"_ _0\"></span>ent. For impa<span class=\"_ _0\"></span>irment test<span class=\"_ _0\"></span>ing, the<span class=\"_ _0\"></span>y are allocate<span class=\"_ _0\"></span>d to the relevant c<span class=\"_ _0\"></span>ash gen<span class=\"_ _0\"></span>erating unit<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Bran<span class=\"_ _0\"></span>ds are impaire<span class=\"_ _0\"></span>d when the re<span class=\"_ _0\"></span>coverable am<span class=\"_ _0\"></span>ount is les<span class=\"_ _0\"></span>s than the c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g value.<span class=\"_ _3bd\"> </span>Internall<span class=\"_ _2\"></span>y generated software assets<span class=\"_ _3bd\"> </span>Intan<span class=\"_ _0\"></span>gible as<span class=\"_ _0\"></span>sets aris<span class=\"_ _0\"></span>ing from develop<span class=\"_ _0\"></span>ment cos<span class=\"_ _0\"></span>ts are ca<span class=\"_ _0\"></span>pitalise<span class=\"_ _0\"></span>d when it ha<span class=\"_ _0\"></span>s been es<span class=\"_ _0\"></span>tablish<span class=\"_ _0\"></span>ed that th<span class=\"_ _0\"></span>e projec<span class=\"_ _0\"></span>t is technic<span class=\"_ _0\"></span>ally and fin<span class=\"_ _0\"></span>ancially<span class=\"_ _3bd\"> </span>feasib<span class=\"_ _0\"></span>le and the Gro<span class=\"_ _0\"></span>up has both th<span class=\"_ _0\"></span>e int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ntion and the ab<span class=\"_ _0\"></span>ility to us<span class=\"_ _0\"></span>e the comple<span class=\"_ _0\"></span>ted ass<span class=\"_ _0\"></span>et. Interna<span class=\"_ _0\"></span>lly gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are measure<span class=\"_ _0\"></span>d on<span class=\"_ _3bd\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion at cost w<span class=\"_ _0\"></span>hich compr<span class=\"_ _0\"></span>ises all direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributabl<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s nece<span class=\"_ _0\"></span>ssar<span class=\"_ _0\"></span>y to create, p<span class=\"_ _0\"></span>roduce an<span class=\"_ _0\"></span>d prepare the a<span class=\"_ _0\"></span>sset to be c<span class=\"_ _0\"></span>apable of<span class=\"_ _3bd\"> </span>ope<span class=\"_ _0\"></span>rating in the ma<span class=\"_ _0\"></span>nner intend<span class=\"_ _0\"></span>ed by mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. Following initia<span class=\"_ _0\"></span>l recogn<span class=\"_ _0\"></span>ition, the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d at cost le<span class=\"_ _0\"></span>ss ac<span class=\"_ _0\"></span>cumulated am<span class=\"_ _0\"></span>ortis<span class=\"_ _0\"></span>ation and<span class=\"_ _3bd\"> </span>any acc<span class=\"_ _0\"></span>umulated imp<span class=\"_ _0\"></span>airment los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on is calcul<span class=\"_ _0\"></span>ated using th<span class=\"_ _0\"></span>e straight-lin<span class=\"_ _0\"></span>e method to allo<span class=\"_ _0\"></span>cate the c<span class=\"_ _0\"></span>ost of the intern<span class=\"_ _0\"></span>ally gene<span class=\"_ _0\"></span>rated sof<span class=\"_ _0\"></span>tware a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r their es<span class=\"_ _0\"></span>timated<span class=\"_ _3bd\"> </span>usef<span class=\"_ _0\"></span>ul lives which is es<span class=\"_ _0\"></span>timated to b<span class=\"_ _0\"></span>e betwe<span class=\"_ _0\"></span>en 3 and 1<span class=\"_ _0\"></span>0 y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ars. T<span class=\"_ _0\"></span>hey are teste<span class=\"_ _0\"></span>d for impairme<span class=\"_ _0\"></span>nt whenever th<span class=\"_ _0\"></span>ere is eviden<span class=\"_ _0\"></span>ce of possib<span class=\"_ _0\"></span>le impairme<span class=\"_ _0\"></span>nt.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-597": {
   "value": "G3. Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, plant an<span class=\"_ _0\"></span>d equipment<span class=\"_ _3bd\"> </span>Own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y is st<span class=\"_ _0\"></span>ated at its reva<span class=\"_ _0\"></span>lued amo<span class=\"_ _0\"></span>unt, bein<span class=\"_ _0\"></span>g its fair valu<span class=\"_ _0\"></span>e at the date of the revalu<span class=\"_ _0\"></span>ation less a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ent accum<span class=\"_ _0\"></span>ulated depre<span class=\"_ _0\"></span>ciation an<span class=\"_ _0\"></span>d impairment<span class=\"_ _0\"></span>. Owne<span class=\"_ _0\"></span>r-occup<span class=\"_ _0\"></span>ied prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y is depre<span class=\"_ _0\"></span>ciated over it<span class=\"_ _0\"></span>s estimate<span class=\"_ _0\"></span>d useful life, whi<span class=\"_ _0\"></span>ch is taken as 20<span class=\"_ _0\"></span>-50 yea<span class=\"_ _0\"></span>rs. Lan<span class=\"_ _0\"></span>d is not depre<span class=\"_ _0\"></span>ciated. A<span class=\"_ _0\"></span>ccumulate<span class=\"_ _0\"></span>d depreci<span class=\"_ _0\"></span>ation as at the reva<span class=\"_ _0\"></span>luation date is elim<span class=\"_ _0\"></span>inated ag<span class=\"_ _0\"></span>ainst the g<span class=\"_ _0\"></span>ross car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of the owne<span class=\"_ _0\"></span>r-occ<span class=\"_ _0\"></span>upied prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and the n<span class=\"_ _0\"></span>et amount is res<span class=\"_ _0\"></span>tated to th<span class=\"_ _0\"></span>e revalued am<span class=\"_ _0\"></span>ount of the ass<span class=\"_ _0\"></span>et. Gain<span class=\"_ _0\"></span>s in owner-oc<span class=\"_ _0\"></span>cupied p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come. Wh<span class=\"_ _0\"></span>en a revaluation l<span class=\"_ _0\"></span>oss aris<span class=\"_ _0\"></span>es on a previou<span class=\"_ _0\"></span>sly revalue<span class=\"_ _0\"></span>d asset it is fi<span class=\"_ _0\"></span>rst de<span class=\"_ _0\"></span>ducted a<span class=\"_ _0\"></span>gainst a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y p<span class=\"_ _0\"></span>revious revaluat<span class=\"_ _0\"></span>ion gain. Any exces<span class=\"_ _0\"></span>s impairme<span class=\"_ _0\"></span>nt is then rec<span class=\"_ _0\"></span>orded as a<span class=\"_ _0\"></span>n impairment ex<span class=\"_ _0\"></span>pense in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span>The rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>f-u<span class=\"_ _0\"></span>se ass<span class=\"_ _0\"></span>ets are initiall<span class=\"_ _0\"></span>y measure<span class=\"_ _0\"></span>d at cost<span class=\"_ _0\"></span>, and subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y at cost le<span class=\"_ _0\"></span>ss any acc<span class=\"_ _0\"></span>umulated de<span class=\"_ _0\"></span>preciatio<span class=\"_ _0\"></span>n and impairm<span class=\"_ _0\"></span>ents, a<span class=\"_ _0\"></span>nd adju<span class=\"_ _0\"></span>sted for cer<span class=\"_ _0\"></span>tain re<span class=\"_ _0\"></span>measure<span class=\"_ _0\"></span>ments of the le<span class=\"_ _0\"></span>ase liabilit<span class=\"_ _0\"></span>y. The right-of-use a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are deprec<span class=\"_ _0\"></span>iated over the rem<span class=\"_ _0\"></span>aining lea<span class=\"_ _0\"></span>se term which is b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en 1 and 8 year<span class=\"_ _0\"></span>s (2023: 1 and 11 ye<span class=\"_ _0\"></span>ars).<span class=\"_ _3bd\"> </span>Equipme<span class=\"_ _0\"></span>nt consis<span class=\"_ _0\"></span>ts primar<span class=\"_ _0\"></span>ily of computer e<span class=\"_ _0\"></span>quipment a<span class=\"_ _0\"></span>nd fittin<span class=\"_ _0\"></span>gs. Equip<span class=\"_ _0\"></span>ment is st<span class=\"_ _0\"></span>ated at histo<span class=\"_ _0\"></span>rical cos<span class=\"_ _0\"></span>t less d<span class=\"_ _0\"></span>eprec<span class=\"_ _0\"></span>ation. Whe<span class=\"_ _0\"></span>re acquired in a busin<span class=\"_ _0\"></span>ess com<span class=\"_ _0\"></span>bination<span class=\"_ _0\"></span>, historic<span class=\"_ _0\"></span>al cost e<span class=\"_ _0\"></span>quates to the fa<span class=\"_ _0\"></span>ir value at the ac<span class=\"_ _0\"></span>quisition date<span class=\"_ _0\"></span>. Deprec<span class=\"_ _0\"></span>iation on equ<span class=\"_ _0\"></span>ipment is cha<span class=\"_ _0\"></span>rged to the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment over its e<span class=\"_ _0\"></span>stimated u<span class=\"_ _0\"></span>seful life of bet<span class=\"_ _0\"></span>ween 2 and 1<span class=\"_ _0\"></span>5 years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"gs79\"><table class=\"s w9fb h2aa\" id=\"_dca3a493-d753-49d5-adaa-ef796e9a44a0\"><tr><td></td><td class=\"t m0 xafd h29 y61ba ff3 fs5 fc3 sc0 ls9e ws9a\">Owner-occupied<span class=\"_ _2\"></span> </td><td class=\"t m0 x59b h29 y61ba ff3 fs5 fc3 sc0 ls9e ws9a\">Right-of-use<span class=\"_ _2\"></span> assets </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 xae3 h29 y61bb ff3 fs5 fc3 sc0 ls8d ws86\">properties<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1c72 h29 y61bb ff3 fs5 fc3 sc0 lsbe wsbe\">- property<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xeda h29 y61bb ff3 fs5 fc3 sc0 lsbe wsbe\">Equipment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 h29 y61bb ff3 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a h29 y61bc ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 h29 y61bc ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 h29 y61bc ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 h29 y61bc ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 h29 y61bc ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y61bd ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y601f w3b3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c73 y601f w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls74 ws1e5\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c74 y601f w9fc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls81 ws14c\">96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c75 y601f w810 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c76 y601f w9fd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">199<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e33 w9e6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Additions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c77 y5e33 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c78 y5e33 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c79 y5e33 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c7a y5e33 w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61be w9fe h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Revaluation los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c7b y61be w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c7c y61be w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c7d y61be w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c7e y61be w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6021 w9ff h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Disposals<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c7f y6021 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0d y6021 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c80 y6021 w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c81 y6021 w84d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y60ff w9e7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c82 y60ff w602 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c83 y60ff wb8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c84 y60ff w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">82<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1666 y60ff w9ac h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">20<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y61bf ff3 fs6 fc3 sc0 lsb6 wsb4\">Deprec<span class=\"_ _0\"></span>iation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5e37 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c85 y5e37 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c86 y5e37 w4d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>42)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c87 y5e37 wa00 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c88 y5e37 wa01 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6c ws1ca\">(93)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e38 w342 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Depre<span class=\"_ _0\"></span>ciation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab6 y5e38 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c89 y5e38 w4eb h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">(8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8a y5e38 w961 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8b y5e38 wa02 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c5a w9ff h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Disposals<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c7f y5c5a w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf0d y5c5a we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8c y5c5a wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8d y5c5a wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5aff w9e7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8e y5aff w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x85f y5aff w619 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8f y5aff w50b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>63)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c90 y5aff w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(1<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ec h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131b y5a16 w602 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x3fd y5a16 w98 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c91 y5a16 w4d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls17f ws192\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c81 y5a16 wd7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs98c\"><table class=\"s wa03 h2ab\" id=\"_e44f1580-40fd-4e8a-9b8b-47b122fe0bc1\"><tr><td></td><td class=\"t m0 x1c92 ha y61c0 ff2 fs5 fc3 sc0 ls65 wsc0\">Owner-oc<span class=\"_ _0\"></span>cupied </td><td class=\"t m0 x19a0 ha y61c0 ff2 fs5 fc3 sc0 ls10c ws10d\">Right<span class=\"_ _2\"></span>-of-use<span class=\"_ _2\"></span> assets </td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x578 ha y61c1 ff2 fs5 fc3 sc0 ls26 wsc6\">proper<span class=\"_ _0\"></span>ties<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1c72 ha y61c1 ff2 fs5 fc3 sc0 ls1 ws1\">- pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x783 ha y61c1 ff2 fs5 fc3 sc0 ls21 ws23\">Equipment<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y61c1 ff2 fs5 fc3 sc0 ls13d ws148\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _0\"></span> </td></tr><tr><td class=\"t m0 x21a ha y61c2 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x542 ha y61c2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x543 ha y61c2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d2 ha y61c2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61c2 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y61c3 ff3 fs6 fc3 sc0 ls5f ws122\">Cost or valuation </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y60f1 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c73 y60f1 w197 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c74 y60f1 w4d4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c93 y60f1 w341 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">67<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c94 y60f1 w80f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">195<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf2 w9e6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Additions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c95 y5bf2 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf65 y5bf2 wde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c96 y5bf2 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c97 y5bf2 w96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf3 w9fe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Revaluation los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c98 y5bf3 w9d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa83 y5bf3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf49 y5bf3 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c99 y5bf3 w9d7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf4 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c9a y5bf4 w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c9b y5bf4 w4d4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">96<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c9c y5bf4 wb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d6 ws1f0\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c9d y5bf4 w241 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y61c4 ff3 fs6 fc3 sc0 lsb6 wsb4\">Deprec<span class=\"_ _0\"></span>iation<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5bd9 w3b3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c9e y5bd9 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c9f y5bd9 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca0 y5bd9 w1bc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>38)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca1 y5bd9 w974 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1de ws1f9\">(<span class=\"_ _0\"></span>70)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b7d w342 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Depre<span class=\"_ _0\"></span>ciation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab6 y5b7d wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca2 y5b7d w20b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca3 y5b7d w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>13)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca4 y5b7d w736 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>23)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5aca w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ac8 y5aca wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca5 y5aca w761 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>42)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca6 y5aca w22c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca7 y5aca w317 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">(93)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ec h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">Carr<span class=\"_ _0\"></span>ying a<span class=\"_ _0\"></span>mount at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131b y5a16 w9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca8 y5a16 w79f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lscd ws1d4\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ca9 y5a16 w4f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c9d y5a16 wd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs98d\">Own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>erti<span class=\"_ _0\"></span>es have bee<span class=\"_ _0\"></span>n valued by ac<span class=\"_ _0\"></span>credited in<span class=\"_ _0\"></span>depen<span class=\"_ _0\"></span>dent valuer<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 on an op<span class=\"_ _0\"></span>en market basis in a<span class=\"_ _0\"></span>ccordan<span class=\"_ _0\"></span>ce </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs98e\">with the R<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ya<span class=\"_ _0\"></span>l Instit<span class=\"_ _0\"></span>ution of Char<span class=\"_ _0\"></span>tered Sur<span class=\"_ _0\"></span>veyors\u2019 req<span class=\"_ _0\"></span>uirements<span class=\"_ _0\"></span>, which is d<span class=\"_ _0\"></span>eeme<span class=\"_ _0\"></span>d to equate to fair valu<span class=\"_ _0\"></span>e. The fair val<span class=\"_ _0\"></span>ue measure<span class=\"_ _0\"></span>ment for the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs98f\">prope<span class=\"_ _0\"></span>rtie<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f \u00a3<span class=\"_ _0\"></span>22 million (2023<span class=\"_ _0\"></span>: \u00a328 million) ha<span class=\"_ _0\"></span>s been c<span class=\"_ _0\"></span>ategoris<span class=\"_ _0\"></span>ed as Level 3 ba<span class=\"_ _0\"></span>sed on th<span class=\"_ _0\"></span>e non-obs<span class=\"_ _0\"></span>ervab<span class=\"_ _0\"></span>le inputs to th<span class=\"_ _0\"></span>e valuation te<span class=\"_ _0\"></span>chnique us<span class=\"_ _0\"></span>ed. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs990\">Unrea<span class=\"_ _0\"></span>lised los<span class=\"_ _0\"></span>s for the curre<span class=\"_ _0\"></span>nt y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar is \u00a36 million (2023<span class=\"_ _0\"></span>: \u00a35 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs991\">The fa<span class=\"_ _0\"></span>ir value of the owner<span class=\"_ _0\"></span>-occup<span class=\"_ _0\"></span>ied prope<span class=\"_ _0\"></span>rties w<span class=\"_ _0\"></span>as derived us<span class=\"_ _0\"></span>ing the investm<span class=\"_ _0\"></span>ent metho<span class=\"_ _0\"></span>d suppor<span class=\"_ _0\"></span>ted by com<span class=\"_ _0\"></span>parison wi<span class=\"_ _0\"></span>th similar market </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs992\">tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>ns for similar prop<span class=\"_ _0\"></span>erti<span class=\"_ _0\"></span>es. The s<span class=\"_ _0\"></span>ignificant n<span class=\"_ _0\"></span>on-obs<span class=\"_ _0\"></span>ervab<span class=\"_ _0\"></span>le inputs us<span class=\"_ _0\"></span>ed in the valu<span class=\"_ _0\"></span>ations are the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d rental val<span class=\"_ _0\"></span>ues per sq<span class=\"_ _0\"></span>uare foot and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 lsd wsd gs993\">the capit<span class=\"_ _0\"></span>alisation rates.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs994\">The fa<span class=\"_ _0\"></span>ir value of the owner<span class=\"_ _0\"></span>-occup<span class=\"_ _0\"></span>ied prope<span class=\"_ _0\"></span>rties va<span class=\"_ _0\"></span>luation would in<span class=\"_ _0\"></span>crease (de<span class=\"_ _0\"></span>crease) if th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted rental va<span class=\"_ _0\"></span>lues per s<span class=\"_ _0\"></span>quare foot were to be h<span class=\"_ _0\"></span>igher </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs995\">(lower) and th<span class=\"_ _0\"></span>e capita<span class=\"_ _0\"></span>lisation rate<span class=\"_ _0\"></span>s were to be lower (hig<span class=\"_ _0\"></span>her).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs996\">Sinc<span class=\"_ _0\"></span>e the year en<span class=\"_ _0\"></span>d the Group ha<span class=\"_ _0\"></span>s agree<span class=\"_ _0\"></span>d to the sale of an own<span class=\"_ _0\"></span>er-occ<span class=\"_ _0\"></span>upied buildin<span class=\"_ _0\"></span>g and the s<span class=\"_ _0\"></span>ale is expe<span class=\"_ _0\"></span>cted to be c<span class=\"_ _0\"></span>ompleted b<span class=\"_ _0\"></span>efore the end </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs997\">of<span class=\"_ gs47\"> </span>2025<span class=\"_ _0\"></span>. The value of this p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024 was \u00a31<span class=\"_ _0\"></span>0 million and no profi<span class=\"_ _0\"></span>t or loss is ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d upon comp<span class=\"_ _0\"></span>letion of the sal<span class=\"_ _0\"></span>e.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-679": {
   "value": "Own<span class=\"_ _0\"></span>er-oc<span class=\"_ _0\"></span>cupied prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y is st<span class=\"_ _0\"></span>ated at its reva<span class=\"_ _0\"></span>lued amo<span class=\"_ _0\"></span>unt, bein<span class=\"_ _0\"></span>g its fair valu<span class=\"_ _0\"></span>e at the date of the revalu<span class=\"_ _0\"></span>ation less a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y s<span class=\"_ _0\"></span>ubsequ<span class=\"_ _0\"></span>ent accum<span class=\"_ _0\"></span>ulated depre<span class=\"_ _0\"></span>ciation an<span class=\"_ _0\"></span>d impairment<span class=\"_ _0\"></span>. Owne<span class=\"_ _0\"></span>r-occup<span class=\"_ _0\"></span>ied prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y is depre<span class=\"_ _0\"></span>ciated over it<span class=\"_ _0\"></span>s estimate<span class=\"_ _0\"></span>d useful life, whi<span class=\"_ _0\"></span>ch is taken as 20<span class=\"_ _0\"></span>-50 yea<span class=\"_ _0\"></span>rs. Lan<span class=\"_ _0\"></span>d is not depre<span class=\"_ _0\"></span>ciated. A<span class=\"_ _0\"></span>ccumulate<span class=\"_ _0\"></span>d depreci<span class=\"_ _0\"></span>ation as at the reva<span class=\"_ _0\"></span>luation date is elim<span class=\"_ _0\"></span>inated ag<span class=\"_ _0\"></span>ainst the g<span class=\"_ _0\"></span>ross car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of the owne<span class=\"_ _0\"></span>r-occ<span class=\"_ _0\"></span>upied prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y and the n<span class=\"_ _0\"></span>et amount is res<span class=\"_ _0\"></span>tated to th<span class=\"_ _0\"></span>e revalued am<span class=\"_ _0\"></span>ount of the ass<span class=\"_ _0\"></span>et. Gain<span class=\"_ _0\"></span>s in owner-oc<span class=\"_ _0\"></span>cupied p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in other comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come. Wh<span class=\"_ _0\"></span>en a revaluation l<span class=\"_ _0\"></span>oss aris<span class=\"_ _0\"></span>es on a previou<span class=\"_ _0\"></span>sly revalue<span class=\"_ _0\"></span>d asset it is fi<span class=\"_ _0\"></span>rst de<span class=\"_ _0\"></span>ducted a<span class=\"_ _0\"></span>gainst a<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y p<span class=\"_ _0\"></span>revious revaluat<span class=\"_ _0\"></span>ion gain. Any exces<span class=\"_ _0\"></span>s impairme<span class=\"_ _0\"></span>nt is then rec<span class=\"_ _0\"></span>orded as a<span class=\"_ _0\"></span>n impairment ex<span class=\"_ _0\"></span>pense in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span>The rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>f-u<span class=\"_ _0\"></span>se ass<span class=\"_ _0\"></span>ets are initiall<span class=\"_ _0\"></span>y measure<span class=\"_ _0\"></span>d at cost<span class=\"_ _0\"></span>, and subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y at cost le<span class=\"_ _0\"></span>ss any acc<span class=\"_ _0\"></span>umulated de<span class=\"_ _0\"></span>preciatio<span class=\"_ _0\"></span>n and impairm<span class=\"_ _0\"></span>ents, a<span class=\"_ _0\"></span>nd adju<span class=\"_ _0\"></span>sted for cer<span class=\"_ _0\"></span>tain re<span class=\"_ _0\"></span>measure<span class=\"_ _0\"></span>ments of the le<span class=\"_ _0\"></span>ase liabilit<span class=\"_ _0\"></span>y. The right-of-use a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are deprec<span class=\"_ _0\"></span>iated over the rem<span class=\"_ _0\"></span>aining lea<span class=\"_ _0\"></span>se term which is b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en 1 and 8 year<span class=\"_ _0\"></span>s (2023: 1 and 11 ye<span class=\"_ _0\"></span>ars).<span class=\"_ _3bd\"> </span>Equipme<span class=\"_ _0\"></span>nt consis<span class=\"_ _0\"></span>ts primar<span class=\"_ _0\"></span>ily of computer e<span class=\"_ _0\"></span>quipment a<span class=\"_ _0\"></span>nd fittin<span class=\"_ _0\"></span>gs. Equip<span class=\"_ _0\"></span>ment is st<span class=\"_ _0\"></span>ated at histo<span class=\"_ _0\"></span>rical cos<span class=\"_ _0\"></span>t less d<span class=\"_ _0\"></span>eprec<span class=\"_ _0\"></span>ation. Whe<span class=\"_ _0\"></span>re acquired in a busin<span class=\"_ _0\"></span>ess com<span class=\"_ _0\"></span>bination<span class=\"_ _0\"></span>, historic<span class=\"_ _0\"></span>al cost e<span class=\"_ _0\"></span>quates to the fa<span class=\"_ _0\"></span>ir value at the ac<span class=\"_ _0\"></span>quisition date<span class=\"_ _0\"></span>. Deprec<span class=\"_ _0\"></span>iation on equ<span class=\"_ _0\"></span>ipment is cha<span class=\"_ _0\"></span>rged to the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment over its e<span class=\"_ _0\"></span>stimated u<span class=\"_ _0\"></span>seful life of bet<span class=\"_ _0\"></span>ween 2 and 1<span class=\"_ _0\"></span>5 years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-598": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls35 ws32 gs999\">G4. Investment propert<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs99a\">Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, inc<span class=\"_ _0\"></span>luding right of us<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s, is initi<span class=\"_ _0\"></span>ally reco<span class=\"_ _0\"></span>gnised at c<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>, including any dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble trans<span class=\"_ _0\"></span>action c<span class=\"_ _0\"></span>osts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs99b\">Subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty is m<span class=\"_ _0\"></span>easured a<span class=\"_ _0\"></span>t fair value. Fair val<span class=\"_ _0\"></span>ue is the price th<span class=\"_ _0\"></span>at would be re<span class=\"_ _0\"></span>ceived to s<span class=\"_ _0\"></span>ell a proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y in an orderly<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs99c\">tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n betwe<span class=\"_ _0\"></span>en market par<span class=\"_ _0\"></span>ticipant<span class=\"_ _0\"></span>s at the mea<span class=\"_ _0\"></span>surement da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>. Fair value is determ<span class=\"_ _0\"></span>ined witho<span class=\"_ _0\"></span>ut any deduc<span class=\"_ _0\"></span>tion for tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s that may<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs99d\">be inc<span class=\"_ _0\"></span>urred on sa<span class=\"_ _0\"></span>le or dispos<span class=\"_ _0\"></span>al. Gains an<span class=\"_ _0\"></span>d losse<span class=\"_ _0\"></span>s arising from t<span class=\"_ _0\"></span>he chang<span class=\"_ _0\"></span>e in fair value are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as inc<span class=\"_ _0\"></span>ome or an exp<span class=\"_ _0\"></span>ense in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs99e\">comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs99f\">Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y include<span class=\"_ _0\"></span>s right-of-use as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, where th<span class=\"_ _0\"></span>e Group act<span class=\"_ _0\"></span>s as les<span class=\"_ _0\"></span>see. Lea<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, where a signifi<span class=\"_ _0\"></span>cant por<span class=\"_ _0\"></span>tion of the ris<span class=\"_ _0\"></span>ks and rewards of<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a0\">owner<span class=\"_ _0\"></span>ship are retain<span class=\"_ _0\"></span>ed by the les<span class=\"_ _0\"></span>sor, are class<span class=\"_ _0\"></span>ified as ope<span class=\"_ _0\"></span>rating le<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>. Where investm<span class=\"_ _0\"></span>ent prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y is lease<span class=\"_ _0\"></span>d out by the Gro<span class=\"_ _0\"></span>up, rental inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a1\">from the<span class=\"_ _0\"></span>se oper<span class=\"_ _0\"></span>ating leas<span class=\"_ _0\"></span>es is reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d as income in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment on a st<span class=\"_ _0\"></span>raight-line bas<span class=\"_ _0\"></span>is ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d of the lease<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gs79\"><table class=\"s wa04 h2ac\" id=\"_37f2be66-1fce-44f4-9273-646bbe636cb8\"><tr><td></td><td class=\"t m0 x75e h29 y61c5 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ef ha y61c5 ff2 fs5 fc3 sc0 ls65 wsc0\">2023</td></tr><tr><td></td><td class=\"t m0 xcba h29 y61c6 ff3 fs5 fc3 sc0 lsa0 ws9c\"> \u00a3m</td><td class=\"t m0 x303 ha y61c6 ff2 fs5 fc3 sc0 ls80 ws116\"> \u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y5d5f w3b3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1caa y5d5f wa05 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">5<span class=\"_ _0\"></span>,742<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cab y5d5f w40 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">6<span class=\"_ _0\"></span>,233<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a68 w9e6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">Additions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cac y5a68 w14e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">920<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cad y5a68 w123 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls4 ws4\">49<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a69 wa06 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Acquis<span class=\"_ _0\"></span>ition of Phoen<span class=\"_ _0\"></span>ix Life C<span class=\"_ _2\"></span>A H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted (Former<span class=\"_ _0\"></span>ly known as S<span class=\"_ _0\"></span>LF of Canada U<span class=\"_ _0\"></span>K Limited (note H2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cae y5a69 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1caf y5a69 w2b2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">28<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a6a wa07 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Improv<span class=\"_ _2\"></span>em<span class=\"_ _0\"></span>en<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb0 y5a6a w167 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">81<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb1 y5a6a wf4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a6b w9ff h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Disposals<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb2 y5a6b wa08 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(1<span class=\"_ _1\"></span>,17<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb3 y5a6b w28b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4<span class=\"_ _0\"></span>84)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a27 wa09 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Movem<span class=\"_ _0\"></span>ent in foreign excha<span class=\"_ _0\"></span>nge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7ad y5a27 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(18)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb4 y5a27 w636 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a6c wa0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Loss<span class=\"_ _0\"></span>es on adj<span class=\"_ _0\"></span>ustment<span class=\"_ _0\"></span>s to fair value (rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb5 y5a6c w66 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb6 y5a6c w7a6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(362)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n xc01 y5b59 w6ed h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">5,<span class=\"_ _0\"></span>452<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb7 y5b59 w460 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">5<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a6e wa0b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale (note H3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb8 y5a6e w506 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>82)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cb9 y5a6e w879 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>2,0<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a2a w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cba y5a2a wda h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">4<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>370<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cbb y5a2a w5b2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">3,698<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa0c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unrea<span class=\"_ _0\"></span>lised los<span class=\"_ _0\"></span>ses on pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ties held at e<span class=\"_ _0\"></span>nd of year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cbc y5a16 wa0d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">(5<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cbd y5a16 w4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls8e ws87\">(18<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a3\">As at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024, a prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y por<span class=\"_ _0\"></span>tfolio<span class=\"_ _0\"></span>, including a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d held for sa<span class=\"_ _0\"></span>le o<span class=\"_ _2\"></span>f \u00a3<span class=\"_ _0\"></span>5,3<span class=\"_ _0\"></span>68 m<span class=\"_ _0\"></span>illion (2023: \u00a35<span class=\"_ _0\"></span>,62<span class=\"_ _0\"></span>1 million), is held by the Life </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a4\">Com<span class=\"_ _0\"></span>panies in a mix of c<span class=\"_ _0\"></span>ommercial s<span class=\"_ _0\"></span>ector<span class=\"_ _0\"></span>s, spre<span class=\"_ _0\"></span>ad geo<span class=\"_ _0\"></span>graphic<span class=\"_ _0\"></span>ally throu<span class=\"_ _0\"></span>ghout the U<span class=\"_ _0\"></span>K and Europe<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a5\">Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rtie<span class=\"_ _0\"></span>s also inclu<span class=\"_ _0\"></span>des \u00a329 m<span class=\"_ _0\"></span>illion (2023: \u00a342 million) of proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y rev<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rsions ari<span class=\"_ _0\"></span>sing from sal<span class=\"_ _0\"></span>es of the NPI E<span class=\"_ _0\"></span>xtr<span class=\"_ _0\"></span>a Income Pl<span class=\"_ _0\"></span>an (see note </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a6\">E5 for fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails) and \u00a34<span class=\"_ _2\"></span>7 milli<span class=\"_ _0\"></span>on (2023: \u00a36<span class=\"_ _0\"></span>4 million) from the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s interes<span class=\"_ _0\"></span>t in the reside<span class=\"_ _0\"></span>ntial prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y of policyh<span class=\"_ _0\"></span>olders wh<span class=\"_ _0\"></span>o have previousl<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a7\">entere<span class=\"_ _0\"></span>d into an Equity Re<span class=\"_ _0\"></span>lease I<span class=\"_ _0\"></span>ncome Pla<span class=\"_ _0\"></span>n (\u2019ER<span class=\"_ _0\"></span>IP<span class=\"_ _0\"></span>\u2019) po<span class=\"_ _0\"></span>licy<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a8\">Ce<span class=\"_ _0\"></span>rtain inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>erti<span class=\"_ _0\"></span>es held by the Life C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s posse<span class=\"_ _0\"></span>ss a groun<span class=\"_ _0\"></span>d rent obligat<span class=\"_ _0\"></span>ion which gives r<span class=\"_ _0\"></span>ise to both a right-of-us<span class=\"_ _0\"></span>e asset a<span class=\"_ _0\"></span>nd a lease </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9a9\">liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. T<span class=\"_ _0\"></span>he right-of-use as<span class=\"_ _0\"></span>set as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the gro<span class=\"_ _0\"></span>und rent obliga<span class=\"_ _0\"></span>tion is value<span class=\"_ _0\"></span>d at fair value and i<span class=\"_ _0\"></span>s include<span class=\"_ _0\"></span>d within the total inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9aa\">valuati<span class=\"_ _0\"></span>on. The val<span class=\"_ _0\"></span>ue of the ground re<span class=\"_ _0\"></span>nt right-of-use as<span class=\"_ _0\"></span>set as at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024 was \u00a38 million (2023<span class=\"_ _0\"></span>: \u00a315 millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>). Th<span class=\"_ _0\"></span>e remeas<span class=\"_ _0\"></span>urement res<span class=\"_ _0\"></span>ulted in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ab\">no ch<span class=\"_ _0\"></span>ange in valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e ground rent rig<span class=\"_ _0\"></span>ht<span class=\"_ _2\"></span>-<span class=\"_ _0\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _0\"></span>se ass<span class=\"_ _0\"></span>et (2023: no c<span class=\"_ _0\"></span>hange). There we<span class=\"_ _0\"></span>re dispos<span class=\"_ _0\"></span>als of \u00a37 million (2023: \u00a3<span class=\"_ _0\"></span>6 million) of ground rent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ac\">right-of-us<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s during the p<span class=\"_ _0\"></span>eriod.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ad\">Com<span class=\"_ _0\"></span>mercial inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y is mea<span class=\"_ _0\"></span>sured at fair va<span class=\"_ _0\"></span>lue by indepe<span class=\"_ _0\"></span>ndent prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y value<span class=\"_ _0\"></span>rs having app<span class=\"_ _0\"></span>ropriate rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d profession<span class=\"_ _0\"></span>al </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ae\">qualific<span class=\"_ _0\"></span>ations an<span class=\"_ _0\"></span>d recent exp<span class=\"_ _0\"></span>erienc<span class=\"_ _0\"></span>es in the loc<span class=\"_ _0\"></span>ation and c<span class=\"_ _0\"></span>ategor<span class=\"_ _0\"></span>y of the prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y bein<span class=\"_ _0\"></span>g valued. T<span class=\"_ _0\"></span>he valuation<span class=\"_ _0\"></span>s are carrie<span class=\"_ _0\"></span>d out in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9af\">the Royal I<span class=\"_ _0\"></span>nstitute of Ch<span class=\"_ _0\"></span>artere<span class=\"_ _0\"></span>d Sur<span class=\"_ _0\"></span>vey<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rs (\u2018<span class=\"_ _0\"></span>RICS<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) guidelin<span class=\"_ _0\"></span>es with expe<span class=\"_ _0\"></span>cted inc<span class=\"_ _0\"></span>ome and c<span class=\"_ _0\"></span>apitalis<span class=\"_ _0\"></span>ation rate as th<span class=\"_ _0\"></span>e k<span class=\"_ _2\"></span>ey non<span class=\"_ _0\"></span>-obser<span class=\"_ _0\"></span>vable<span class=\"_ gs47\"> </span>inp<span class=\"_ _0\"></span>uts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b0\">The N<span class=\"_ _0\"></span>PI residenti<span class=\"_ _0\"></span>al proper<span class=\"_ _0\"></span>ty reve<span class=\"_ _0\"></span>rsions<span class=\"_ _0\"></span>, an interes<span class=\"_ _0\"></span>t in custom<span class=\"_ _0\"></span>ers\u2019 proper<span class=\"_ _0\"></span>ties wh<span class=\"_ _0\"></span>ich the Group will re<span class=\"_ _0\"></span>alise upon t<span class=\"_ _0\"></span>heir death<span class=\"_ _0\"></span>, are valued u<span class=\"_ _0\"></span>sing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b1\">a<span class=\"_ gs47\"> </span>disc<span class=\"_ _0\"></span>ounted ca<span class=\"_ _0\"></span>sh flow mode<span class=\"_ _0\"></span>l base<span class=\"_ _0\"></span>d on the Group\u2019s propor<span class=\"_ _0\"></span>tion of the cur<span class=\"_ _0\"></span>rent open ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et val<span class=\"_ _0\"></span>ue, and disc<span class=\"_ _0\"></span>ounted for the e<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d lifetime of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b2\">polic<span class=\"_ _0\"></span>yholder d<span class=\"_ _0\"></span>erived from p<span class=\"_ _0\"></span>ublished m<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>lity t<span class=\"_ _0\"></span>ables<span class=\"_ _0\"></span>, the mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y rates are 13<span class=\"_ _0\"></span>0% for both ma<span class=\"_ _0\"></span>les and fema<span class=\"_ _0\"></span>les bas<span class=\"_ _0\"></span>ed on the IFL<span class=\"_ _0\"></span>92C1<span class=\"_ _0\"></span>5 table for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b3\">male<span class=\"_ _0\"></span>s and the IM<span class=\"_ _0\"></span>L92C<span class=\"_ _0\"></span>15 table for fe<span class=\"_ _0\"></span>males<span class=\"_ _0\"></span>. The open m<span class=\"_ _0\"></span>arket value is mea<span class=\"_ _0\"></span>sured by inde<span class=\"_ _0\"></span>pende<span class=\"_ _0\"></span>nt local pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty sur<span class=\"_ _0\"></span>veyors havin<span class=\"_ _0\"></span>g appropriate </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b4\">rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d profession<span class=\"_ _0\"></span>al qualific<span class=\"_ _0\"></span>ations with referen<span class=\"_ _0\"></span>ce to the as<span class=\"_ _0\"></span>sumed c<span class=\"_ _0\"></span>ondition of the p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty an<span class=\"_ _0\"></span>d local m<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et c<span class=\"_ _0\"></span>onditions<span class=\"_ _0\"></span>. The indivi<span class=\"_ _0\"></span>dual </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b5\">prope<span class=\"_ _0\"></span>rtie<span class=\"_ _0\"></span>s are valued tri<span class=\"_ _0\"></span>ennially an<span class=\"_ _0\"></span>d indexed usin<span class=\"_ _0\"></span>g regional h<span class=\"_ _0\"></span>ouse pri<span class=\"_ _0\"></span>ce indices to th<span class=\"_ _0\"></span>e year end da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>. The disco<span class=\"_ _0\"></span>unt rate is a three<span class=\"_ _0\"></span>-year swa<span class=\"_ _0\"></span>p rate </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b6\">plus 1<span class=\"_ _0\"></span>.7% margin (2<span class=\"_ _0\"></span>023: three<span class=\"_ _0\"></span>-year sw<span class=\"_ _0\"></span>ap rate plus 1<span class=\"_ _0\"></span>.7% margin), and a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d for the deferre<span class=\"_ _0\"></span>d poss<span class=\"_ _0\"></span>ession r<span class=\"_ _0\"></span>ate of 3.7% (2023<span class=\"_ _0\"></span>: 3.7%). Ass<span class=\"_ _0\"></span>umptions </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b7\">are als<span class=\"_ _0\"></span>o made in the val<span class=\"_ _0\"></span>uation for fut<span class=\"_ _0\"></span>ure movements in p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty pr<span class=\"_ _0\"></span>ices<span class=\"_ _0\"></span>, based o<span class=\"_ _0\"></span>n a risk free rate<span class=\"_ _0\"></span>. The reside<span class=\"_ _0\"></span>ntial proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y reversions h<span class=\"_ _0\"></span>ave been </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b8\">subs<span class=\"_ _0\"></span>tantially refin<span class=\"_ _0\"></span>ance<span class=\"_ _0\"></span>d under the arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents with S<span class=\"_ _0\"></span>antande<span class=\"_ _0\"></span>r as desc<span class=\"_ _0\"></span>ribed in note E5<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9b9\">The ER<span class=\"_ _0\"></span>IP reside<span class=\"_ _0\"></span>ntial prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y reversion<span class=\"_ _0\"></span>s, an interes<span class=\"_ _0\"></span>t in the resid<span class=\"_ _0\"></span>ential prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y of policyh<span class=\"_ _0\"></span>olders w<span class=\"_ _0\"></span>ho have previous<span class=\"_ _0\"></span>ly entered into an ER<span class=\"_ _0\"></span>IP polic<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ba\">and b<span class=\"_ _0\"></span>een provide<span class=\"_ _0\"></span>d with a lifetime ann<span class=\"_ _0\"></span>uity in ret<span class=\"_ _0\"></span>urn for the leg<span class=\"_ _0\"></span>al title to their p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty, are value<span class=\"_ _0\"></span>d using unobs<span class=\"_ _0\"></span>erva<span class=\"_ _0\"></span>ble inputs a<span class=\"_ _0\"></span>nd mana<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s b<span class=\"_ _0\"></span>est </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9bb\">es<span class=\"_ _0\"></span>timates. A<span class=\"_ _0\"></span>s the inward ca<span class=\"_ _0\"></span>sh flows on the<span class=\"_ _0\"></span>se prope<span class=\"_ _0\"></span>rties w<span class=\"_ _0\"></span>ill not be rece<span class=\"_ _0\"></span>ived until the lifetim<span class=\"_ _0\"></span>e lease is n<span class=\"_ _0\"></span>o longer in forc<span class=\"_ _0\"></span>e, which is us<span class=\"_ _0\"></span>ually upon th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9bc\">death of th<span class=\"_ _0\"></span>e policyh<span class=\"_ _0\"></span>older<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>ese interes<span class=\"_ _0\"></span>ts are valu<span class=\"_ _0\"></span>ed on a reversi<span class=\"_ _0\"></span>onar<span class=\"_ _0\"></span>y basis which i<span class=\"_ _0\"></span>s a discounte<span class=\"_ _0\"></span>d current ope<span class=\"_ _0\"></span>n market value. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9bd\">The op<span class=\"_ _0\"></span>en market value<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e proper<span class=\"_ _0\"></span>ties are ind<span class=\"_ _0\"></span>epende<span class=\"_ _0\"></span>ntly revalue<span class=\"_ _0\"></span>d every t<span class=\"_ _0\"></span>wo years by m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s of the Royal Ins<span class=\"_ _0\"></span>titution of Char<span class=\"_ _0\"></span>tered S<span class=\"_ _0\"></span>urveyor<span class=\"_ _0\"></span>s </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9be\">and in th<span class=\"_ _0\"></span>e intervenin<span class=\"_ _0\"></span>g period a<span class=\"_ _0\"></span>re adjus<span class=\"_ _0\"></span>ted by referenc<span class=\"_ _0\"></span>e to the Nationwid<span class=\"_ _0\"></span>e Building S<span class=\"_ _0\"></span>ociet<span class=\"_ _0\"></span>y region<span class=\"_ _0\"></span>al indices of ho<span class=\"_ _0\"></span>use pric<span class=\"_ _0\"></span>es. The di<span class=\"_ _0\"></span>scount pe<span class=\"_ _0\"></span>riod is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9bf\">bas<span class=\"_ _0\"></span>ed on the b<span class=\"_ _0\"></span>est es<span class=\"_ _0\"></span>timates of the likely date th<span class=\"_ _0\"></span>e proper<span class=\"_ _0\"></span>ty will b<span class=\"_ _0\"></span>ecom<span class=\"_ _0\"></span>e a<span class=\"_ _2\"></span>va<span class=\"_ _0\"></span>ilable for sale a<span class=\"_ _0\"></span>nd the disc<span class=\"_ _0\"></span>ount rate applie<span class=\"_ _0\"></span>d is determin<span class=\"_ _0\"></span>ed by the gen<span class=\"_ _0\"></span>eral </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9c0\">par<span class=\"_ _0\"></span>tner as it<span class=\"_ _0\"></span>s bes<span class=\"_ _0\"></span>t estimate of th<span class=\"_ _0\"></span>e appropriate dis<span class=\"_ _0\"></span>count rate. T<span class=\"_ _0\"></span>he mor<span class=\"_ _0\"></span>talit<span class=\"_ _0\"></span>y assumpt<span class=\"_ _0\"></span>ion is base<span class=\"_ _0\"></span>d on the PMLO8H<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>WP ta<span class=\"_ _0\"></span>ble for males a<span class=\"_ _0\"></span>nd the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9c1\">PFL<span class=\"_ _2\"></span>O<span class=\"_ _0\"></span>8HAWP table for fe<span class=\"_ _0\"></span>males<span class=\"_ _0\"></span>, adjus<span class=\"_ _0\"></span>ted to refle<span class=\"_ _0\"></span>ct the his<span class=\"_ _0\"></span>toric experie<span class=\"_ _0\"></span>nce of the bu<span class=\"_ _0\"></span>siness c<span class=\"_ _0\"></span>oncern<span class=\"_ _0\"></span>ed. The m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality ra<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s are proje<span class=\"_ _0\"></span>cted usin<span class=\"_ _0\"></span>g </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9c2\">future m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality im<span class=\"_ _0\"></span>provements fro<span class=\"_ _0\"></span>m the CMI M<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality Pro<span class=\"_ _0\"></span>ject<span class=\"_ _0\"></span>ion Model<span class=\"_ _0\"></span>. No explicit a<span class=\"_ _0\"></span>llowance is m<span class=\"_ _0\"></span>ade for hou<span class=\"_ _0\"></span>se price inflat<span class=\"_ _0\"></span>ion in the year thro<span class=\"_ _0\"></span>ugh </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9c3\">to their re<span class=\"_ _0\"></span>alisation<span class=\"_ _0\"></span>. Therefore, th<span class=\"_ _0\"></span>e k<span class=\"_ _2\"></span>ey as<span class=\"_ _0\"></span>sumptions u<span class=\"_ _0\"></span>sed in the va<span class=\"_ _0\"></span>luation of the rever<span class=\"_ _0\"></span>sionar<span class=\"_ _0\"></span>y interest<span class=\"_ _0\"></span>s are the interes<span class=\"_ _0\"></span>t disco<span class=\"_ _0\"></span>unt rate and the m<span class=\"_ _0\"></span>orta<span class=\"_ _0\"></span>lity </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9c4\">as<span class=\"_ _0\"></span>sumption. T<span class=\"_ _0\"></span>he discount r<span class=\"_ _0\"></span>ate was 5% (2023: 5%). </div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls1 ws1 gs9c5\">The fa<span class=\"_ _0\"></span>ir value m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>ment of th<span class=\"_ _0\"></span>e investme<span class=\"_ _0\"></span>nt prope<span class=\"_ _0\"></span>rties h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n categ<span class=\"_ _0\"></span>orise<span class=\"_ _0\"></span>d as Level 3 bas<span class=\"_ _0\"></span>ed on the in<span class=\"_ _0\"></span>puts to t<span class=\"_ _0\"></span>he valuati<span class=\"_ _0\"></span>on tech<span class=\"_ _0\"></span>niques </div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls1 ws1 gs9c6\">use<span class=\"_ _0\"></span>d. The fol<span class=\"_ _0\"></span>lowing ta<span class=\"_ _0\"></span>ble show<span class=\"_ _0\"></span>s the valua<span class=\"_ _0\"></span>tion tech<span class=\"_ _0\"></span>niques u<span class=\"_ _0\"></span>sed in m<span class=\"_ _0\"></span>easurin<span class=\"_ _0\"></span>g the fair va<span class=\"_ _0\"></span>lue of the inves<span class=\"_ _0\"></span>tment p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>, the sig<span class=\"_ _0\"></span>nificant </div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls1 ws1 gs9c7\">non<span class=\"_ _0\"></span>-obse<span class=\"_ _0\"></span>rvab<span class=\"_ _0\"></span>le input<span class=\"_ _0\"></span>s used<span class=\"_ _0\"></span>, the inter<span class=\"_ _0\"></span>-rela<span class=\"_ _0\"></span>tionsh<span class=\"_ _0\"></span>ip bet<span class=\"_ _0\"></span>ween the key no<span class=\"_ _0\"></span>n-obs<span class=\"_ _0\"></span>erva<span class=\"_ _0\"></span>ble input<span class=\"_ _0\"></span>s and th<span class=\"_ _0\"></span>e fair value m<span class=\"_ _0\"></span>easur<span class=\"_ _0\"></span>ement of </div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls1 ws1 gs9c8\">the<span class=\"_ gs6e7\"> </span>inves<span class=\"_ _0\"></span>tment p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs9c9\"><table class=\"s wa0e h2ad\" id=\"_e991ba30-4498-4102-a510-1a6ca5c6ee27\"><tr><td></td><td></td><td></td><td class=\"t m0 x246 h29 y61c7 ff3 fs5 fc3 sc0 ls11a ws11c\">Wei<span class=\"_ _2\"></span>ghted av<span class=\"_ _2\"></span>erage<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cbe ha y61c7 ff2 fs5 fc3 sc0 ls14a ws138\">Weighte<span class=\"_ _0\"></span>d average<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y61c8 w21e h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls21 ws23\">Desc<span class=\"_ _0\"></span>ription<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cbf y61c8 wa0f h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">V<span class=\"_ _2\"></span>aluation techniques<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc0 y61c8 wa10 h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls11 ws11\">Significant non-obser<span class=\"_ _0\"></span>vable i<span class=\"_ _2\"></span>nput<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"t m0 x5a2 h29 y61c9 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x540 ha y61c9 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y61ca ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mercial Inves<span class=\"_ _0\"></span>tment </td><td class=\"c n x1cc1 y5a13 wa11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">RIC<span class=\"_ _0\"></span>S<span class=\"_ _2\"></span> valuation<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc2 y5a13 wa12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpec<span class=\"_ _0\"></span>ted incom<span class=\"_ _0\"></span>e per sq. f<span class=\"_ _0\"></span>t.<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc3 y5a13 wa13 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ce ws1e7\">\u00a325<span class=\"_ _0\"></span>.4<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc4 y5a13 wa14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">\u00a3<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y61cb ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y </td><td></td><td class=\"c n xe91 y5ae6 wa15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timated rent<span class=\"_ _0\"></span>al value pe<span class=\"_ _0\"></span>r hotel room<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc5 y5ae6 wa16 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsc6 ws15a\">\u00a36,026<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc6 y5ae6 wa17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">\u00a37<span class=\"_ _4\"></span>,15<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe91 y5a15 wa18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Es<span class=\"_ _0\"></span>timated rent<span class=\"_ _0\"></span>al value pe<span class=\"_ _0\"></span>r parking spa<span class=\"_ _0\"></span>ce<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc7 y5a15 wa19 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">\u00a3<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>,071<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc8 y5a15 wa1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">\u00a3<span class=\"_ _0\"></span>1,<span class=\"_ _0\"></span>123<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xe91 y5a16 wa1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Capitalis<span class=\"_ _0\"></span>ation rate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cc9 y5a16 wa1c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1f4 ws214\">4.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>1%<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cca y5a16 wa1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">5.13%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9cb\">The e<span class=\"_ _0\"></span>stimated f<span class=\"_ _0\"></span>air value of comm<span class=\"_ _0\"></span>ercial prop<span class=\"_ _0\"></span>ertie<span class=\"_ _0\"></span>s would incre<span class=\"_ _0\"></span>ase (decre<span class=\"_ _0\"></span>ase) if:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9cc\">\u2022 <span class=\"_ _19\"> </span>the ex<span class=\"_ _0\"></span>pecte<span class=\"_ _0\"></span>d income we<span class=\"_ _0\"></span>re to be highe<span class=\"_ _0\"></span>r (lower); or<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9cd\">\u2022 <span class=\"_ _19\"> </span>the c<span class=\"_ _0\"></span>apitalis<span class=\"_ _0\"></span>ation rate were to b<span class=\"_ _0\"></span>e lower (highe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ce\">The e<span class=\"_ _0\"></span>stimated f<span class=\"_ _0\"></span>air value of the NP<span class=\"_ _0\"></span>I residential p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty rever<span class=\"_ _0\"></span>sions would in<span class=\"_ _0\"></span>creas<span class=\"_ _0\"></span>e (<span class=\"_ _2\"></span>de<span class=\"_ _0\"></span>crease) if<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9cf\">\u2022 <span class=\"_ _19\"> </span>the d<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rred pos<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sion rate were to be lowe<span class=\"_ _0\"></span>r (higher);<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d0\">\u2022 <span class=\"_ _19\"> </span>the m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality ra<span class=\"_ _0\"></span>te w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>re to be higher (<span class=\"_ _0\"></span>lower)<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d1\">The e<span class=\"_ _0\"></span>stimated f<span class=\"_ _0\"></span>air value of the ERI<span class=\"_ _0\"></span>P resident<span class=\"_ _0\"></span>ial proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y reversions wo<span class=\"_ _0\"></span>uld increa<span class=\"_ _0\"></span>se (decrea<span class=\"_ _0\"></span>se) if:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d2\">\u2022 <span class=\"_ _19\"> </span>the di<span class=\"_ _0\"></span>scount rate we<span class=\"_ _0\"></span>re t<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>e lower (high<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>)<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d3\">\u2022 <span class=\"_ _19\"> </span>the m<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>ality ra<span class=\"_ _0\"></span>te w<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>re to be higher (<span class=\"_ _0\"></span>lower)<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d4\">Direc<span class=\"_ _0\"></span>t oper<span class=\"_ _0\"></span>ating expen<span class=\"_ _0\"></span>ses (offs<span class=\"_ _0\"></span>et agains<span class=\"_ _0\"></span>t rental in<span class=\"_ _0\"></span>come in the c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d income s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt) in respe<span class=\"_ _0\"></span>ct of investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>ties th<span class=\"_ _0\"></span>at gener<span class=\"_ _0\"></span>ated </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d5\">renta<span class=\"_ _0\"></span>l income durin<span class=\"_ _0\"></span>g the year am<span class=\"_ _0\"></span>ounted to \u00a33<span class=\"_ _0\"></span>5 million (2023: \u00a3<span class=\"_ _0\"></span>36 million). The dire<span class=\"_ _0\"></span>ct oper<span class=\"_ _0\"></span>ating expe<span class=\"_ _0\"></span>nses aris<span class=\"_ _0\"></span>ing from investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y that did </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d6\">not ge<span class=\"_ _0\"></span>nerate rent<span class=\"_ _0\"></span>al income d<span class=\"_ _0\"></span>uring the year am<span class=\"_ _0\"></span>ounted to \u00a32 m<span class=\"_ _0\"></span>illion (2023: \u00a35 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9d7\">Future minim<span class=\"_ _0\"></span>um lease rent<span class=\"_ _0\"></span>al recei<span class=\"_ _0\"></span>vables in resp<span class=\"_ _0\"></span>ect of no<span class=\"_ _0\"></span>n-canc<span class=\"_ _0\"></span>ellable op<span class=\"_ _0\"></span>erating le<span class=\"_ _0\"></span>ases on inves<span class=\"_ _0\"></span>tment pro<span class=\"_ _0\"></span>pert<span class=\"_ _0\"></span>ies were as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"gs9d8\"><table class=\"s wa1e h2ae\" id=\"_1588aa2e-d4d4-45ac-903f-28fdce0bd6b6\"><tr><td></td><td class=\"t m0 x1ce h29 y61cc ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y61cc ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y61cd ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61cd ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae6 w3db h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Not late<span class=\"_ _0\"></span>r than 1 year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ccb y5ae6 w249 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">259<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ccc y5ae6 w546 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls85 ws88\">278<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wa1f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Later th<span class=\"_ _0\"></span>an 1 year and n<span class=\"_ _0\"></span>ot later than 5 year<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x794 y5a15 w7d6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls69 ws18a\">830<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ccd y5a15 w920 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">91<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa20 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Later th<span class=\"_ _0\"></span>an 5 years<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cce y5a16 w1ee h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">2,305<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x56b y5a16 w453 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,9<span class=\"_ _0\"></span>03</div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-680": {
   "value": "Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, inc<span class=\"_ _0\"></span>luding right of us<span class=\"_ _0\"></span>e asset<span class=\"_ _0\"></span>s, is initi<span class=\"_ _0\"></span>ally reco<span class=\"_ _0\"></span>gnised at c<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>, including any dire<span class=\"_ _0\"></span>ctly at<span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ble trans<span class=\"_ _0\"></span>action c<span class=\"_ _0\"></span>osts<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span> Subs<span class=\"_ _0\"></span>equentl<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty is m<span class=\"_ _0\"></span>easured a<span class=\"_ _0\"></span>t fair value. Fair val<span class=\"_ _0\"></span>ue is the price th<span class=\"_ _0\"></span>at would be re<span class=\"_ _0\"></span>ceived to s<span class=\"_ _0\"></span>ell a proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y in an orderly<span class=\"_ _3bd\"> </span> tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n betwe<span class=\"_ _0\"></span>en market par<span class=\"_ _0\"></span>ticipant<span class=\"_ _0\"></span>s at the mea<span class=\"_ _0\"></span>surement da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>. Fair value is determ<span class=\"_ _0\"></span>ined witho<span class=\"_ _0\"></span>ut any deduc<span class=\"_ _0\"></span>tion for tran<span class=\"_ _0\"></span>sactio<span class=\"_ _0\"></span>n cost<span class=\"_ _0\"></span>s that may<span class=\"_ _3bd\"> </span> be inc<span class=\"_ _0\"></span>urred on sa<span class=\"_ _0\"></span>le or dispos<span class=\"_ _0\"></span>al. Gains an<span class=\"_ _0\"></span>d losse<span class=\"_ _0\"></span>s arising from t<span class=\"_ _0\"></span>he chang<span class=\"_ _0\"></span>e in fair value are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as inc<span class=\"_ _0\"></span>ome or an exp<span class=\"_ _0\"></span>ense in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f<span class=\"_ _3bd\"> </span> comp<span class=\"_ _0\"></span>rehensive in<span class=\"_ _0\"></span>come.<span class=\"_ _3bd\"> </span> Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y include<span class=\"_ _0\"></span>s right-of-use as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, where th<span class=\"_ _0\"></span>e Group act<span class=\"_ _0\"></span>s as les<span class=\"_ _0\"></span>see. Lea<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>, where a signifi<span class=\"_ _0\"></span>cant por<span class=\"_ _0\"></span>tion of the ris<span class=\"_ _0\"></span>ks and rewards of<span class=\"_ _3bd\"> </span> owner<span class=\"_ _0\"></span>ship are retain<span class=\"_ _0\"></span>ed by the les<span class=\"_ _0\"></span>sor, are class<span class=\"_ _0\"></span>ified as ope<span class=\"_ _0\"></span>rating le<span class=\"_ _0\"></span>ases<span class=\"_ _0\"></span>. Where investm<span class=\"_ _0\"></span>ent prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y is lease<span class=\"_ _0\"></span>d out by the Gro<span class=\"_ _0\"></span>up, rental inc<span class=\"_ _0\"></span>ome<span class=\"_ _3bd\"> </span> from the<span class=\"_ _0\"></span>se oper<span class=\"_ _0\"></span>ating leas<span class=\"_ _0\"></span>es is reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d as income in t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated inc<span class=\"_ _0\"></span>ome state<span class=\"_ _0\"></span>ment on a st<span class=\"_ _0\"></span>raight-line bas<span class=\"_ _0\"></span>is ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the perio<span class=\"_ _0\"></span>d of the lease<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-636": {
   "value": "G5. O<span class=\"_ _0\"></span>ther receivables<span class=\"_ _3bd\"> </span>Oth<span class=\"_ _0\"></span>er rece<span class=\"_ _0\"></span>ivables are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when du<span class=\"_ _0\"></span>e and mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at the fair va<span class=\"_ _0\"></span>lue of the amount re<span class=\"_ _0\"></span>ceivabl<span class=\"_ _0\"></span>e. Subse<span class=\"_ _0\"></span>quent to initia<span class=\"_ _0\"></span>l rec<span class=\"_ _0\"></span>ognition<span class=\"_ _0\"></span>, these re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost us<span class=\"_ _0\"></span>ing the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t rate meth<span class=\"_ _0\"></span>od.<span class=\"_ _3bd\"> </span><table class=\"s wa21 h2af\" id=\"_15c486cd-22d5-4a25-b5c8-64d25509ca94\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y61ce ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y61cf ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y61d0 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y61d1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61d1 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b32 wa22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Investment brok<span class=\"_ _2\"></span>er balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ccf y5b32 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">338<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64e y5b32 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">115<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 wa23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h collateral p<span class=\"_ _0\"></span>ledge<span class=\"_ _0\"></span>d and initial m<span class=\"_ _0\"></span>argins pos<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd0 y5b33 wa24 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">1<span class=\"_ _0\"></span>,995<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd1 y5b33 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _1\"></span>,72<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 wa25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y related re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd2 y5b34 w4d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">158<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd3 y5b34 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">165<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa wa26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d acquis<span class=\"_ _0\"></span>ition cos<span class=\"_ _0\"></span>ts relating to inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd4 y5afa w135 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c y5afa w19c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">82<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 wa27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other debt<span class=\"_ _2\"></span>ors<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd5 y5c66 w284 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">454<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd6 y5c66 w4d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">562<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd7 y5a46 w106 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">3,0<span class=\"_ _0\"></span>43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd8 y5a46 wa28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>52<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd9 y5a16 wd7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b42 y5a16 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-599": {
   "value": "G5. O<span class=\"_ _0\"></span>ther receivables<span class=\"_ _3bd\"> </span>Oth<span class=\"_ _0\"></span>er rece<span class=\"_ _0\"></span>ivables are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when du<span class=\"_ _0\"></span>e and mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at the fair va<span class=\"_ _0\"></span>lue of the amount re<span class=\"_ _0\"></span>ceivabl<span class=\"_ _0\"></span>e. Subse<span class=\"_ _0\"></span>quent to initia<span class=\"_ _0\"></span>l rec<span class=\"_ _0\"></span>ognition<span class=\"_ _0\"></span>, these re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost us<span class=\"_ _0\"></span>ing the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t rate meth<span class=\"_ _0\"></span>od.<span class=\"_ _3bd\"> </span><table class=\"s wa21 h2af\" id=\"_15c486cd-22d5-4a25-b5c8-64d25509ca94\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y61ce ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y61cf ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y61d0 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y61d1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61d1 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b32 wa22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Investment brok<span class=\"_ _2\"></span>er balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ccf y5b32 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">338<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x64e y5b32 w117 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">115<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 wa23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h collateral p<span class=\"_ _0\"></span>ledge<span class=\"_ _0\"></span>d and initial m<span class=\"_ _0\"></span>argins pos<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd0 y5b33 wa24 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">1<span class=\"_ _0\"></span>,995<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd1 y5b33 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _1\"></span>,72<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 wa25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y related re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd2 y5b34 w4d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">158<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd3 y5b34 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">165<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa wa26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d acquis<span class=\"_ _0\"></span>ition cos<span class=\"_ _0\"></span>ts relating to inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd4 y5afa w135 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">98<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c y5afa w19c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d0 ws1e9\">82<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 wa27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other debt<span class=\"_ _2\"></span>ors<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd5 y5c66 w284 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">454<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd6 y5c66 w4d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">562<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd7 y5a46 w106 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 lsb5 wsb3\">3,0<span class=\"_ _0\"></span>43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd8 y5a46 wa28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">2<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>52<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w9ed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt recoverab<span class=\"_ _0\"></span>le after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd9 y5a16 wd7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b42 y5a16 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">13<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-681": {
   "value": "Oth<span class=\"_ _0\"></span>er rece<span class=\"_ _0\"></span>ivables are re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed when du<span class=\"_ _0\"></span>e and mea<span class=\"_ _0\"></span>sured on initia<span class=\"_ _0\"></span>l recog<span class=\"_ _0\"></span>nition at the fair va<span class=\"_ _0\"></span>lue of the amount re<span class=\"_ _0\"></span>ceivabl<span class=\"_ _0\"></span>e. Subse<span class=\"_ _0\"></span>quent to initia<span class=\"_ _0\"></span>l rec<span class=\"_ _0\"></span>ognition<span class=\"_ _0\"></span>, these re<span class=\"_ _0\"></span>ceivable<span class=\"_ _0\"></span>s are meas<span class=\"_ _0\"></span>ured at amor<span class=\"_ _0\"></span>tise<span class=\"_ _0\"></span>d cost us<span class=\"_ _0\"></span>ing the effe<span class=\"_ _0\"></span>ctive interes<span class=\"_ _0\"></span>t rate meth<span class=\"_ _0\"></span>od.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-600": {
   "value": "G6<span class=\"_ _0\"></span>. Cash and c<span class=\"_ _0\"></span>ash equivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s compris<span class=\"_ _0\"></span>e cash b<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>s and shor<span class=\"_ _0\"></span>t-term depos<span class=\"_ _0\"></span>its with an ori<span class=\"_ _0\"></span>ginal matur<span class=\"_ _0\"></span>ity term of thre<span class=\"_ _0\"></span>e months or l<span class=\"_ _0\"></span>ess at the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f plac<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>. Bank overdraf<span class=\"_ _0\"></span>ts that a<span class=\"_ _0\"></span>re repayable on de<span class=\"_ _0\"></span>mand and for<span class=\"_ _0\"></span>m an integral p<span class=\"_ _0\"></span>art of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ca<span class=\"_ _0\"></span>sh mana<span class=\"_ _0\"></span>gement are d<span class=\"_ _0\"></span>educte<span class=\"_ _0\"></span>d from cas<span class=\"_ _0\"></span>h and c<span class=\"_ _0\"></span>ash equiv<span class=\"_ _0\"></span>alents for th<span class=\"_ _0\"></span>e purpose of th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated cas<span class=\"_ _0\"></span>h flows. B<span class=\"_ _0\"></span>alances h<span class=\"_ _0\"></span>eld within c<span class=\"_ _0\"></span>ollective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes to m<span class=\"_ _0\"></span>eet both sh<span class=\"_ _0\"></span>ort an<span class=\"_ _0\"></span>d long term liqui<span class=\"_ _0\"></span>dity re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group are exclu<span class=\"_ _0\"></span>ded from ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equival<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span><table class=\"s wa29 h2b0\" id=\"_fcd5ff17-08d3-4bfe-a88c-d9be2eef82e5\"><tr><td></td><td class=\"t m0 x1ce h29 y61d2 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y61d2 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y61d3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61d3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5afa wa2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Bank and cash balanc<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cda y5afa w3e2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">3,0<span class=\"_ _0\"></span>40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cdb y5afa w12f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 wa2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sho<span class=\"_ _0\"></span>rt-term dep<span class=\"_ _0\"></span>osits (inc<span class=\"_ _0\"></span>luding notic<span class=\"_ _0\"></span>e account<span class=\"_ _0\"></span>s and term de<span class=\"_ _0\"></span>posits)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cdc y5c66 wa2c h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5e wsb2\">6,4<span class=\"_ _0\"></span>46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xcae y5c66 w7ee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">4,4<span class=\"_ _0\"></span>69<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x6f6 y5b24 w147 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">9,486<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cdd y5b24 w800 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _0\"></span>2<span class=\"_ _1\"></span>2<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w439 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Less a<span class=\"_ _0\"></span>mounts cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cde y5b25 w50b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>33)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1690 y5b25 w98f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">(<span class=\"_ _0\"></span>52)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cdf y5a16 w16a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">9,<span class=\"_ _0\"></span>453<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ce0 y5a16 w10b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">7,<span class=\"_ _1\"></span>1<span class=\"_ _0\"></span>6<span class=\"_ _1\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr></table>Dep<span class=\"_ _0\"></span>osits are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to a combinati<span class=\"_ _0\"></span>on of fixed and vari<span class=\"_ _0\"></span>able interes<span class=\"_ _0\"></span>t rates. Th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of balan<span class=\"_ _0\"></span>ces held a<span class=\"_ _0\"></span>t amor<span class=\"_ _0\"></span>tised co<span class=\"_ _0\"></span>st approxim<span class=\"_ _0\"></span>ate to<span class=\"_ gs47\"> </span>fair valu<span class=\"_ _0\"></span>e at the perio<span class=\"_ _0\"></span>d end. Ca<span class=\"_ _0\"></span>sh<span class=\"_ gs47\"> </span>and<span class=\"_ gs47\"> </span>ca<span class=\"_ _0\"></span>sh equivale<span class=\"_ _0\"></span>nts in long<span class=\"_ _0\"></span>-t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rm busine<span class=\"_ _0\"></span>ss oper<span class=\"_ _0\"></span>ations and c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es of \u00a39<span class=\"_ _0\"></span>,255 milli<span class=\"_ _0\"></span>on (2023:<span class=\"_ gs47\"> </span>\u00a36<span class=\"_ _0\"></span>,9<span class=\"_ _0\"></span>94<span class=\"_ gs47\"> </span>millio<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>) are p<span class=\"_ _0\"></span>rimarily he<span class=\"_ _0\"></span>ld for the ben<span class=\"_ _0\"></span>efit of policyh<span class=\"_ _0\"></span>olders an<span class=\"_ _0\"></span>d so are not ge<span class=\"_ _0\"></span>nerally avail<span class=\"_ _0\"></span>able for use by th<span class=\"_ _0\"></span>e<span class=\"_ gs47\"> </span>owners<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-682": {
   "value": "Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s compris<span class=\"_ _0\"></span>e cash b<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>s and shor<span class=\"_ _0\"></span>t-term depos<span class=\"_ _0\"></span>its with an ori<span class=\"_ _0\"></span>ginal matur<span class=\"_ _0\"></span>ity term of thre<span class=\"_ _0\"></span>e months or l<span class=\"_ _0\"></span>ess at the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f plac<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>. Bank overdraf<span class=\"_ _0\"></span>ts that a<span class=\"_ _0\"></span>re repayable on de<span class=\"_ _0\"></span>mand and for<span class=\"_ _0\"></span>m an integral p<span class=\"_ _0\"></span>art of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ca<span class=\"_ _0\"></span>sh mana<span class=\"_ _0\"></span>gement are d<span class=\"_ _0\"></span>educte<span class=\"_ _0\"></span>d from cas<span class=\"_ _0\"></span>h and c<span class=\"_ _0\"></span>ash equiv<span class=\"_ _0\"></span>alents for th<span class=\"_ _0\"></span>e purpose of th<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent of consoli<span class=\"_ _0\"></span>dated cas<span class=\"_ _0\"></span>h flows. B<span class=\"_ _0\"></span>alances h<span class=\"_ _0\"></span>eld within c<span class=\"_ _0\"></span>ollective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes to m<span class=\"_ _0\"></span>eet both sh<span class=\"_ _0\"></span>ort an<span class=\"_ _0\"></span>d long term liqui<span class=\"_ _0\"></span>dity re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group are exclu<span class=\"_ _0\"></span>ded from ca<span class=\"_ _0\"></span>sh and ca<span class=\"_ _0\"></span>sh equival<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-601": {
   "value": "G<span class=\"_ _2\"></span>7<span class=\"_ _4\"></span>. Provision<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>A provision i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised whe<span class=\"_ _0\"></span>n the Group ha<span class=\"_ _0\"></span>s a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion, as a re<span class=\"_ _0\"></span>sult of a past event<span class=\"_ _0\"></span>, which is likely to res<span class=\"_ _0\"></span>ult in an out<span class=\"_ _0\"></span>flow of reso<span class=\"_ _0\"></span>urces and wh<span class=\"_ _0\"></span>ere a reliable e<span class=\"_ _0\"></span>stimate of the am<span class=\"_ _0\"></span>ount of the oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e made. If th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t is material<span class=\"_ _0\"></span>, the provision is determin<span class=\"_ _0\"></span>ed by disc<span class=\"_ _0\"></span>ounting the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d future ca<span class=\"_ _0\"></span>sh flows at a pre<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ax rate that refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s current market as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ments of the tim<span class=\"_ _0\"></span>e value of money and<span class=\"_ _0\"></span>, where appro<span class=\"_ _0\"></span>priate, the ris<span class=\"_ _0\"></span>ks specific to th<span class=\"_ _0\"></span>e liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. A provision i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised for on<span class=\"_ _0\"></span>erous contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>hen the exp<span class=\"_ _0\"></span>ected b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>e derived from t<span class=\"_ _0\"></span>he contra<span class=\"_ _0\"></span>cts are le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e related unavoidab<span class=\"_ _0\"></span>le cost<span class=\"_ _0\"></span>s. The un<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>idable cos<span class=\"_ _0\"></span>ts refle<span class=\"_ _0\"></span>ct the net c<span class=\"_ _0\"></span>ost of exitin<span class=\"_ _0\"></span>g the contra<span class=\"_ _0\"></span>ct, whic<span class=\"_ _0\"></span>h is the lower of the co<span class=\"_ _0\"></span>st of fulfilling it an<span class=\"_ _0\"></span>d any comp<span class=\"_ _0\"></span>ensatio<span class=\"_ _0\"></span>n or penal<span class=\"_ _0\"></span>ties arising fro<span class=\"_ _0\"></span>m failure to fulfil it<span class=\"_ _0\"></span>. Cost<span class=\"_ _0\"></span>s that mee<span class=\"_ _0\"></span>t the requirem<span class=\"_ _0\"></span>ents to be cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as a provision b<span class=\"_ _0\"></span>ut are determine<span class=\"_ _0\"></span>d to be direc<span class=\"_ _0\"></span>tly attr<span class=\"_ _0\"></span>ibutable to in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ith DPF are cla<span class=\"_ _0\"></span>ssified w<span class=\"_ _0\"></span>ithin the insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>. Addition<span class=\"_ _0\"></span>s and redu<span class=\"_ _0\"></span>ctions to provis<span class=\"_ _0\"></span>ions are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>trative exp<span class=\"_ _0\"></span>enses wit<span class=\"_ _0\"></span>hin the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span>Where i<span class=\"_ _0\"></span>t is expec<span class=\"_ _0\"></span>ted that a pa<span class=\"_ _0\"></span>rt of the exp<span class=\"_ _0\"></span>enditure re<span class=\"_ _0\"></span>quired to set<span class=\"_ _0\"></span>tle a provisio<span class=\"_ _0\"></span>n will be reimbur<span class=\"_ _0\"></span>sed by a third pa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y the reimbur<span class=\"_ _0\"></span>seme<span class=\"_ _0\"></span>nt is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d when, a<span class=\"_ _0\"></span>nd only whe<span class=\"_ _0\"></span>n, it is vir<span class=\"_ _0\"></span>tually ce<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>in that the reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt will be rec<span class=\"_ _0\"></span>eived. This re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as a sepa<span class=\"_ _0\"></span>rate as<span class=\"_ _0\"></span>set within othe<span class=\"_ _0\"></span>r receivab<span class=\"_ _0\"></span>les and will not exc<span class=\"_ _0\"></span>eed th<span class=\"_ _0\"></span>e amount of the provis<span class=\"_ _0\"></span>ion.<span class=\"_ _3bd\"> </span><table class=\"s wa2d h2b1\" id=\"_de6fe2ef-8f6b-41c4-9190-d9b6b04308ec\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m0 xcbe h29 y61d4 ff3 fs5 fc3 sc0 ls8d ws86\">Restructuring provisions<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"t m13e x1ce1 h29 y61d5 ff3 fs5 fc3 sc0 ls25 wsbe\">T<span class=\"_ _2\"></span>ransfer of </td><td></td><td></td></tr><tr><td></td><td class=\"t m13e x1874 h29 y61d6 ff3 fs5 fc3 sc0 ls1 ws1\">Leasehold </td><td></td><td></td><td></td><td></td><td class=\"t m13e x1878 h29 y61d6 ff3 fs5 fc3 sc0 ls25 wsbe\" colspan=\"2\">T<span class=\"_ _2\"></span>ransfer of </td><td class=\"t m13e x1876 h29 y61d6 ff3 fs5 fc3 sc0 lsa3 ws9e\">ReAssure </td><td></td><td></td></tr><tr><td></td><td class=\"t m13e x1874 h29 y61d7 ff3 fs5 fc3 sc0 ls1 ws1\">properties<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m13e x1ce2 h29 y61d7 ff3 fs5 fc3 sc0 lsbd ws2a\">Known </td><td class=\"t m13e x3a8 h29 y61d7 ff3 fs5 fc3 sc0 lsa3 ws9e\">Indirect<span class=\"_ _0\"></span> </td><td class=\"t m13e x1ce3 h29 y61d7 ff3 fs5 fc3 sc0 ls23 ws24\">T<span class=\"_ _2\"></span>ran<span class=\"_ _0\"></span>sition and </td><td class=\"t m13e xa13 h29 y61d7 ff3 fs5 fc3 sc0 ls1 ws1\">policy </td><td class=\"t m13e xb0d h29 y61d7 ff3 fs5 fc3 sc0 lsbf wsc1\">Operational </td><td class=\"t m13e xc71 h29 y61d7 ff3 fs5 fc3 sc0 ls1 ws1\">policy </td><td></td><td></td></tr><tr><td></td><td class=\"t m13e x17a3 h29 y61d8 ff3 fs5 fc3 sc0 ls1 ws1\">dilapidations<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x1968 h29 y61d8 ff3 fs5 fc3 sc0 ls23 ws24\">Staff relate<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x493 h29 y61d8 ff3 fs5 fc3 sc0 ls1 ws1\">incidents<span class=\"_ _3bd\"> </span></td><td class=\"t m13e xd05 h29 y61d8 ff3 fs5 fc3 sc0 ls23 ws30\">T<span class=\"_ _2\"></span>axatio<span class=\"_ _0\"></span>n<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x1ce4 h29 y61d8 ff3 fs5 fc3 sc0 lsbf wsc1\">T<span class=\"_ _2\"></span>ransformation<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x187b h29 y61d8 ff3 fs5 fc3 sc0 lsbf wsc1\">administration<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x491 h29 y61d8 ff3 fs5 fc3 sc0 ls23 ws30\">simplifica<span class=\"_ _0\"></span>tion<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x187c h29 y61d8 ff3 fs5 fc3 sc0 lsbf wsc1\">administration<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x9df h29 y61d8 ff3 fs5 fc3 sc0 ls142 ws14e\">Other<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x3bf h29 y61d8 ff3 fs5 fc3 sc0 ls1b ws1c\">To<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>al<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y61d9 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x1ce5 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x1ce6 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x1ce7 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x1ce8 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e xd06 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x124e h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x86a h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x970 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e xcc0 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m13e x1ce9 h29 y61da ff3 fs5 fc3 sc0 ls1f5 ws28\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y61db w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cea y61db w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ceb y61db w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cec y61db w763 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ced y61db w591 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1dd ws1f7\">59<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cee y61db wa2e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cef y61db wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf0 y61db we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf1 y61db w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf2 y61db w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">9</div></td><td class=\"c n x1cf3 y61db w179 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>55<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61dc wa2f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Addition<span class=\"_ _0\"></span>s in the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf4 y61dc w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf5 y61dc w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf6 y61dc w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf7 y61dc w9e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf8 y61dc w8f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cf9 y61dc w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cfa y61dc w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cfb y61dc w2a9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cfc y61dc w135 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls144 ws150\">18</div></td><td class=\"c n x1cfd y61dc w595 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">1<span class=\"_ _0\"></span>41<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61dd wa30 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Utilis<span class=\"_ _0\"></span>ed during the ye<span class=\"_ _0\"></span>ar<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cfe y61dd w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cff y61dd w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d00 y61dd w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d01 y61dd w250 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(6)</div></td><td class=\"c n x1d02 y61dd w708 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(17<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d03 y61dd w635 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(4)</div></td><td class=\"c n x1d04 y61dd w33f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>17<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d05 y61dd we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td><td class=\"c n x1d06 y61dd w3b6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(14)</div></td><td class=\"c n x747 y61dd w4e6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61de wa31 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Rele<span class=\"_ _0\"></span>ased durin<span class=\"_ _0\"></span>g the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d07 y61de w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d08 y61de w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d09 y61de w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)</div></td><td class=\"c n x1d0a y61de waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(15)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d0b y61de w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d0c y61de w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d0d y61de we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d0e y61de w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d0f y61de w84d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)</div></td><td class=\"c n x1d10 y61de wa32 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">(20<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61df wa33 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Disc<span class=\"_ _0\"></span>ounting durin<span class=\"_ _0\"></span>g the year<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d11 y61df w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d12 y61df w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d13 y61df w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d14 y61df w16d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x13a9 y61df w2db h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d15 y61df w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d16 y61df we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d17 y61df w298 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d18 y61df w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d19 y61df w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b44 w3b7 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d1a y5b44 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d1b y5b44 w1a8 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d1c y5b44 w58 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d1d y5b44 w98 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls37 wsc8\">50<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d1e y5b44 w4d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d1f y5b44 w96 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d20 y5b44 w4ef h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d21 y5b44 w135 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls144 ws150\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d22 y5b44 w9e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls147 ws152\">12</div></td><td class=\"c n x1d23 y5b44 w14e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1e2 ws1fe\">206<span class=\"_ _3bd\"> </span></div></td></tr></table>Staff rela<span class=\"_ _2\"></span>ted<span class=\"_ _3bd\"> </span>Staf<span class=\"_ _0\"></span>f related prov<span class=\"_ _0\"></span>isions inclu<span class=\"_ _0\"></span>de provisions for unf<span class=\"_ _0\"></span>unded pe<span class=\"_ _0\"></span>nsions of \u00a37 million (2<span class=\"_ _0\"></span>023: \u00a38 million), an<span class=\"_ _0\"></span>d private medic<span class=\"_ _0\"></span>al and othe<span class=\"_ _0\"></span>r insuran<span class=\"_ _0\"></span>ce cost<span class=\"_ _0\"></span>s for forme<span class=\"_ _0\"></span>r employees of \u00a3<span class=\"_ _0\"></span>2 million (2023: \u00a3<span class=\"_ _0\"></span>3 million).<span class=\"_ _3bd\"> </span>Known inci<span class=\"_ _0\"></span>dents<span class=\"_ _3bd\"> </span>The kn<span class=\"_ _0\"></span>own incident<span class=\"_ _0\"></span>s provision was c<span class=\"_ _0\"></span>reated for his<span class=\"_ _0\"></span>torical da<span class=\"_ _0\"></span>ta qualit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, adm<span class=\"_ _0\"></span>inistratio<span class=\"_ _0\"></span>n system<span class=\"_ _0\"></span>s problems a<span class=\"_ _0\"></span>nd proce<span class=\"_ _0\"></span>ss deficie<span class=\"_ _0\"></span>ncies on the p<span class=\"_ _0\"></span>olicy adminis<span class=\"_ _0\"></span>tration<span class=\"_ _0\"></span>, financia<span class=\"_ _0\"></span>l reconc<span class=\"_ _0\"></span>iliations and o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>al financ<span class=\"_ _0\"></span>e aspec<span class=\"_ _0\"></span>ts of busin<span class=\"_ _0\"></span>ess out<span class=\"_ _0\"></span>source<span class=\"_ _0\"></span>d. Thes<span class=\"_ _0\"></span>e balanc<span class=\"_ _0\"></span>es repres<span class=\"_ _0\"></span>ent the bes<span class=\"_ _0\"></span>t estim<span class=\"_ _0\"></span>ates of cos<span class=\"_ _0\"></span>ts payabl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>o c<span class=\"_ _0\"></span>ustome<span class=\"_ _0\"></span>rs. Addit<span class=\"_ _0\"></span>ional informatio<span class=\"_ _0\"></span>n has bee<span class=\"_ _0\"></span>n given bel<span class=\"_ _0\"></span>ow in respec<span class=\"_ _0\"></span>t of the more sig<span class=\"_ _0\"></span>nificant ba<span class=\"_ _0\"></span>lances wi<span class=\"_ _0\"></span>thin this provision<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g 2021<span class=\"_ _0\"></span>, a \u00a315 million p<span class=\"_ _0\"></span>rovision was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in relation to e<span class=\"_ _0\"></span>rrors in final e<span class=\"_ _0\"></span>ncashm<span class=\"_ _0\"></span>ent calc<span class=\"_ _0\"></span>ulations for Wit<span class=\"_ _0\"></span>h Profits T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee Inves<span class=\"_ _0\"></span>tment Pla<span class=\"_ _0\"></span>ns and in 20<span class=\"_ _0\"></span>22 it was incre<span class=\"_ _0\"></span>ased to \u00a3<span class=\"_ _0\"></span>29 million. D<span class=\"_ _0\"></span>uring the yea<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, \u00a31 million (2<span class=\"_ _0\"></span>023: \u00a31<span class=\"_ _0\"></span>8 million) was utilise<span class=\"_ _0\"></span>d and \u00a3nil (2023<span class=\"_ _0\"></span>: \u00a37 million) was rele<span class=\"_ _0\"></span>ased. T<span class=\"_ _0\"></span>he remain<span class=\"_ _0\"></span>ing balan<span class=\"_ _0\"></span>ce at 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 is \u00a33 milli<span class=\"_ _0\"></span>on (2023: \u00a34 million). An \u00a311 million provi<span class=\"_ _0\"></span>sion was also re<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed in April 2<span class=\"_ _0\"></span>021 following identifi<span class=\"_ _0\"></span>cation that c<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ain custo<span class=\"_ _0\"></span>mers who h<span class=\"_ _0\"></span>ave a Pro<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>cted Pens<span class=\"_ _0\"></span>ion Age or a Protec<span class=\"_ _0\"></span>ted T<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>x-free Lump Sum m<span class=\"_ _0\"></span>ay not have had the<span class=\"_ _0\"></span>ir benefit<span class=\"_ _0\"></span>s set<span class=\"_ _0\"></span>tled corre<span class=\"_ _0\"></span>ctly. The bal<span class=\"_ _0\"></span>ance at 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 of \u00a33 m<span class=\"_ _0\"></span>illion (2023: \u00a33 m<span class=\"_ _0\"></span>illion) remaine<span class=\"_ _0\"></span>d unchang<span class=\"_ _0\"></span>ed (2023<span class=\"_ _0\"></span>: \u00a3<span class=\"_ _2\"></span>4 million rel<span class=\"_ _0\"></span>ease<span class=\"_ _0\"></span>d)<span class=\"_ _2\"></span>. T<span class=\"_ _0\"></span>hese provisi<span class=\"_ _0\"></span>ons will be utilis<span class=\"_ _0\"></span>ed within on<span class=\"_ _0\"></span>e to two year<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>The rem<span class=\"_ _0\"></span>aining provisio<span class=\"_ _0\"></span>ns of \u00a39 million as at 3<span class=\"_ _0\"></span>1 Dece<span class=\"_ _0\"></span>mber 2024 (2023: \u00a38 m<span class=\"_ _0\"></span>illion) are expec<span class=\"_ _0\"></span>ted to be utilis<span class=\"_ _0\"></span>ed within on<span class=\"_ _0\"></span>e to two year<span class=\"_ _0\"></span>s. As at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, there are n<span class=\"_ _0\"></span>o significa<span class=\"_ _0\"></span>nt uncer<span class=\"_ _0\"></span>tainties whi<span class=\"_ _0\"></span>ch could gi<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e ri<span class=\"_ _0\"></span>se to a material c<span class=\"_ _0\"></span>hange to th<span class=\"_ _0\"></span>e value of the provisio<span class=\"_ _0\"></span>ns held for cur<span class=\"_ _0\"></span>rent known in<span class=\"_ _0\"></span>cidents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Indirect taxation<span class=\"_ _3bd\"> </span>The in<span class=\"_ _0\"></span>direct ta<span class=\"_ _0\"></span>xation relate<span class=\"_ _0\"></span>s to various indire<span class=\"_ _0\"></span>ct tax m<span class=\"_ _0\"></span>atter<span class=\"_ _0\"></span>s across o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>al taxes<span class=\"_ _0\"></span>, employm<span class=\"_ _0\"></span>ent taxes a<span class=\"_ _0\"></span>nd V<span class=\"_ _4\"></span>A<span class=\"_ _2\"></span>T<span class=\"_ _2\"></span>. D<span class=\"_ _0\"></span>uring the year, the provisio<span class=\"_ _0\"></span>n was stre<span class=\"_ _0\"></span>ngthen<span class=\"_ _0\"></span>ed by \u00a312 millio<span class=\"_ _0\"></span>n (2023: \u00a343 million), \u00a36 million (2<span class=\"_ _0\"></span>023: \u00a33 million) wa<span class=\"_ _0\"></span>s utilised an<span class=\"_ _0\"></span>d a furth<span class=\"_ _0\"></span>er \u00a315 m<span class=\"_ _0\"></span>illion (2023: \u00a3<span class=\"_ _0\"></span>10 million) was rel<span class=\"_ _0\"></span>eased<span class=\"_ _0\"></span>. The rem<span class=\"_ _0\"></span>aining bal<span class=\"_ _0\"></span>ance at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 of \u00a35<span class=\"_ _0\"></span>0 million (2023: \u00a35<span class=\"_ _0\"></span>9 million) repres<span class=\"_ _0\"></span>ents the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s es<span class=\"_ _0\"></span>timate of the ma<span class=\"_ _0\"></span>ximum expos<span class=\"_ _0\"></span>ure as at the repo<span class=\"_ _0\"></span>rting da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e a<span class=\"_ _0\"></span>nd is expe<span class=\"_ _0\"></span>cted to be utili<span class=\"_ _0\"></span>sed in one to th<span class=\"_ _0\"></span>ree years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Restructuring provi<span class=\"_ _2\"></span>sions<span class=\"_ _3bd\"> </span>T<span class=\"_ _4\"></span>ran<span class=\"_ _0\"></span>si<span class=\"_ _2\"></span>tion and transformation pro<span class=\"_ _2\"></span>vision<span class=\"_ _3bd\"> </span>Following th<span class=\"_ _0\"></span>e acquisit<span class=\"_ _0\"></span>ion of the Stand<span class=\"_ _0\"></span>ard Life Assur<span class=\"_ _0\"></span>ance bus<span class=\"_ _0\"></span>iness<span class=\"_ _0\"></span>es in Augus<span class=\"_ _0\"></span>t 2018<span class=\"_ _0\"></span>, the Group e<span class=\"_ _0\"></span>stab<span class=\"_ _0\"></span>lished a tra<span class=\"_ _0\"></span>nsition and t<span class=\"_ _0\"></span>ransform<span class=\"_ _0\"></span>ation prog<span class=\"_ _0\"></span>ramme whic<span class=\"_ _0\"></span>h aims to deliver the inte<span class=\"_ _0\"></span>gration of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s op<span class=\"_ _0\"></span>erating m<span class=\"_ _0\"></span>odels via a s<span class=\"_ _0\"></span>eries of phas<span class=\"_ _0\"></span>es. D<span class=\"_ _0\"></span>uring 201<span class=\"_ _0\"></span>9, the Gro<span class=\"_ _0\"></span>up announc<span class=\"_ _0\"></span>ed its intention to ex<span class=\"_ _0\"></span>tend it<span class=\"_ _0\"></span>s strateg<span class=\"_ _0\"></span>ic par<span class=\"_ _0\"></span>tnership w<span class=\"_ _0\"></span>ith T<span class=\"_ _4\"></span>ata C<span class=\"_ _0\"></span>onsult<span class=\"_ _0\"></span>ancy S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es (\u2018<span class=\"_ _0\"></span>T<span class=\"_ _2\"></span>CS<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) to provide cus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>mer ser<span class=\"_ _0\"></span>vicing<span class=\"_ _0\"></span>, to develop a digi<span class=\"_ _0\"></span>tal plat<span class=\"_ _0\"></span>form and for migr<span class=\"_ _0\"></span>ation of existin<span class=\"_ _0\"></span>g Standard Life p<span class=\"_ _0\"></span>olicies to this pl<span class=\"_ _0\"></span>atform whic<span class=\"_ _0\"></span>h raised a v<span class=\"_ _0\"></span>alid expec<span class=\"_ _0\"></span>tation of the im<span class=\"_ _0\"></span>pact<span class=\"_ _0\"></span>s in those likely to be af<span class=\"_ _0\"></span>fecte<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>The init<span class=\"_ _0\"></span>ial provision was e<span class=\"_ _0\"></span>stabli<span class=\"_ _0\"></span>shed in 201<span class=\"_ _0\"></span>9 and inc<span class=\"_ _0\"></span>luded mig<span class=\"_ _0\"></span>ration cos<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, severanc<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s and other ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s. Migr<span class=\"_ _0\"></span>ation cos<span class=\"_ _0\"></span>ts are cons<span class=\"_ _0\"></span>idered a direc<span class=\"_ _0\"></span>t expendi<span class=\"_ _0\"></span>ture nece<span class=\"_ _0\"></span>ssaril<span class=\"_ _0\"></span>y entaile<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y th<span class=\"_ _0\"></span>e restru<span class=\"_ _0\"></span>cturing a<span class=\"_ _0\"></span>nd represe<span class=\"_ _0\"></span>nt an obligati<span class=\"_ _0\"></span>on arising from ar<span class=\"_ _0\"></span>rangem<span class=\"_ _0\"></span>ents ente<span class=\"_ _0\"></span>red into with TCS during 201<span class=\"_ _0\"></span>9. No cos<span class=\"_ _0\"></span>ts have be<span class=\"_ _0\"></span>en provide<span class=\"_ _0\"></span>d for that relate to the o<span class=\"_ _0\"></span>ngoing s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>ing of policies<span class=\"_ _0\"></span>. Migrat<span class=\"_ _0\"></span>ion cost<span class=\"_ _0\"></span>s payable to TCS are subj<span class=\"_ _0\"></span>ect to limite<span class=\"_ _0\"></span>d unce<span class=\"_ _0\"></span>rtaint<span class=\"_ _0\"></span>y as th<span class=\"_ _0\"></span>ey are fixed unde<span class=\"_ _0\"></span>r the terms of the a<span class=\"_ _0\"></span>greeme<span class=\"_ _0\"></span>nt entered into. Th<span class=\"_ _0\"></span>e severanc<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s are subje<span class=\"_ _0\"></span>ct to unce<span class=\"_ _0\"></span>rtaint<span class=\"_ _0\"></span>y and will b<span class=\"_ _0\"></span>e impacte<span class=\"_ _0\"></span>d by the num<span class=\"_ _0\"></span>ber of staf<span class=\"_ _0\"></span>f that tra<span class=\"_ _0\"></span>nsfer to TCS, a<span class=\"_ _0\"></span>nd the averag<span class=\"_ _0\"></span>e salarie<span class=\"_ _0\"></span>s and numb<span class=\"_ _0\"></span>er of years\u2019 ser<span class=\"_ _0\"></span>vice of tho<span class=\"_ _0\"></span>se affe<span class=\"_ _0\"></span>cted. Th<span class=\"_ _0\"></span>ere was an inc<span class=\"_ _0\"></span>rease in co<span class=\"_ _0\"></span>sts during th<span class=\"_ _0\"></span>e year following on f<span class=\"_ _0\"></span>rom a strate<span class=\"_ _0\"></span>gic review of the pro<span class=\"_ _0\"></span>gramme to provi<span class=\"_ _0\"></span>de for decom<span class=\"_ _0\"></span>missionin<span class=\"_ _0\"></span>g cost<span class=\"_ _0\"></span>s asso<span class=\"_ _0\"></span>ciated with th<span class=\"_ _0\"></span>e restru<span class=\"_ _0\"></span>cture. Th<span class=\"_ _0\"></span>ese cos<span class=\"_ _0\"></span>ts are sub<span class=\"_ _0\"></span>ject to un<span class=\"_ _0\"></span>cert<span class=\"_ _0\"></span>ainty a<span class=\"_ _0\"></span>nd will be impa<span class=\"_ _0\"></span>cted by the ph<span class=\"_ _0\"></span>asing of the de<span class=\"_ _0\"></span>commis<span class=\"_ _0\"></span>sioning ac<span class=\"_ _0\"></span>tivities an<span class=\"_ _0\"></span>d any subse<span class=\"_ _0\"></span>quent update<span class=\"_ _0\"></span>s made to the bes<span class=\"_ _0\"></span>t estim<span class=\"_ _0\"></span>ate view of the cos<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ef\">Durin<span class=\"_ _0\"></span>g the year, the provision was in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d by \u00a329 millio<span class=\"_ _0\"></span>n (2023: \u00a36 million), a f<span class=\"_ _0\"></span>urther \u00a3<span class=\"_ _0\"></span>17 million (2023<span class=\"_ _0\"></span>: \u00a320 million) was ut<span class=\"_ _0\"></span>ilised and \u00a3nil </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f0\">(2023<span class=\"_ _0\"></span>:<span class=\"_ gs47\"> </span>\u00a311 million) was rel<span class=\"_ _0\"></span>eased<span class=\"_ _0\"></span>. The impac<span class=\"_ _0\"></span>t of discountin<span class=\"_ _0\"></span>g the provision w<span class=\"_ _0\"></span>as \u00a35 million in the yea<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>. T<span class=\"_ _0\"></span>he remaining \u00a3<span class=\"_ _0\"></span>54 million (2023<span class=\"_ _0\"></span>: \u00a3<span class=\"_ _2\"></span>47 million) </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f1\">is<span class=\"_ gs47\"> </span>expe<span class=\"_ _0\"></span>cted to b<span class=\"_ _0\"></span>e utilised wit<span class=\"_ _0\"></span>hin one to four year<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls5f ws122 gs9f2\">T<span class=\"_ _4\"></span>ran<span class=\"_ _0\"></span>sf<span class=\"_ _2\"></span>er of policy administration<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f3\">Durin<span class=\"_ _0\"></span>g 2018<span class=\"_ _0\"></span>, the Group a<span class=\"_ _0\"></span>nnounc<span class=\"_ _0\"></span>ed its intentio<span class=\"_ _0\"></span>n to move to a single out<span class=\"_ _0\"></span>source<span class=\"_ _0\"></span>r platform a<span class=\"_ _0\"></span>nd to trans<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r a furth<span class=\"_ _0\"></span>er 2 million of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s leg<span class=\"_ _0\"></span>acy </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f4\">polic<span class=\"_ _0\"></span>ies to T<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>S. An initia<span class=\"_ _0\"></span>l provision was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in 201<span class=\"_ _0\"></span>8 for the expe<span class=\"_ _0\"></span>cted co<span class=\"_ _0\"></span>st of the plat<span class=\"_ _0\"></span>form migrat<span class=\"_ _0\"></span>ion, sever<span class=\"_ _0\"></span>ance cos<span class=\"_ _0\"></span>ts and oth<span class=\"_ _0\"></span>er cos<span class=\"_ _0\"></span>ts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f5\">as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with exiting from t<span class=\"_ _0\"></span>he current arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents. M<span class=\"_ _0\"></span>igration co<span class=\"_ _0\"></span>sts<span class=\"_ _0\"></span>, severan<span class=\"_ _0\"></span>ce cos<span class=\"_ _0\"></span>ts and as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d exit cos<span class=\"_ _0\"></span>ts were con<span class=\"_ _0\"></span>sidered a dire<span class=\"_ _0\"></span>ct </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f6\">expe<span class=\"_ _0\"></span>nditure ne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>arily entail<span class=\"_ _0\"></span>ed by the res<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>uring and repre<span class=\"_ _0\"></span>sent an oblig<span class=\"_ _0\"></span>ation arisin<span class=\"_ _0\"></span>g from arrang<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>s entered into with TCS durin<span class=\"_ _0\"></span>g 2018<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f7\">No<span class=\"_ gs47\"> </span>co<span class=\"_ _0\"></span>sts have b<span class=\"_ _0\"></span>een provide<span class=\"_ _0\"></span>d for that relate to th<span class=\"_ _0\"></span>e ongoing s<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>cing of policie<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f8\">There i<span class=\"_ _0\"></span>s conside<span class=\"_ _0\"></span>red to be limite<span class=\"_ _0\"></span>d uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y asso<span class=\"_ _0\"></span>ciated with th<span class=\"_ _0\"></span>e remaining c<span class=\"_ _0\"></span>osts a<span class=\"_ _0\"></span>s the restr<span class=\"_ _0\"></span>ucturin<span class=\"_ _0\"></span>g programm<span class=\"_ _0\"></span>e is very c<span class=\"_ _0\"></span>lose to com<span class=\"_ _0\"></span>pletion. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9f9\">Durin<span class=\"_ _0\"></span>g the year the p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>vi<span class=\"_ _0\"></span>sion was incre<span class=\"_ _0\"></span>ased by \u00a3<span class=\"_ _0\"></span>2 million (2023: \u00a3<span class=\"_ _0\"></span>1 million) and a fur<span class=\"_ _0\"></span>ther \u00a34 million (2023<span class=\"_ _0\"></span>: \u00a3<span class=\"_ _2\"></span>4 million) was u<span class=\"_ _0\"></span>tilised. T<span class=\"_ _0\"></span>he remaining </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9fa\">provision of \u00a3<span class=\"_ _0\"></span>3 million (2023: \u00a35 milli<span class=\"_ _0\"></span>on) is expec<span class=\"_ _0\"></span>ted to be fully u<span class=\"_ _0\"></span>tilised in 202<span class=\"_ _0\"></span>5. </div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 ls1a ws1b gs9fb\">Oper<span class=\"_ _0\"></span>ational simplific<span class=\"_ _0\"></span>ation<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9fc\">This Gro<span class=\"_ _0\"></span>up-wide p<span class=\"_ _0\"></span>rogramm<span class=\"_ _0\"></span>e include<span class=\"_ _0\"></span>s activit<span class=\"_ _0\"></span>y to take the Group f<span class=\"_ _0\"></span>rom being a fina<span class=\"_ _0\"></span>ncial en<span class=\"_ _0\"></span>gineerin<span class=\"_ _0\"></span>g busine<span class=\"_ _0\"></span>ss to a purpos<span class=\"_ _0\"></span>e led, org<span class=\"_ _0\"></span>anicall<span class=\"_ _0\"></span>y growing </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9fd\">busin<span class=\"_ _0\"></span>ess over the n<span class=\"_ _0\"></span>ext thre<span class=\"_ _0\"></span>e years<span class=\"_ _0\"></span>. As par<span class=\"_ _0\"></span>t of this, an op<span class=\"_ _0\"></span>eration<span class=\"_ _0\"></span>al simplifica<span class=\"_ _0\"></span>tion workstre<span class=\"_ _0\"></span>am is under<span class=\"_ _0\"></span>taking a<span class=\"_ _0\"></span>ctivit<span class=\"_ _0\"></span>y to simplif<span class=\"_ _0\"></span>y the Group\u2019s oper<span class=\"_ _0\"></span>ating </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9fe\">mod<span class=\"_ _0\"></span>el such tha<span class=\"_ _0\"></span>t the busine<span class=\"_ _0\"></span>ss is more ef<span class=\"_ _0\"></span>ficient an<span class=\"_ _0\"></span>d focuse<span class=\"_ _0\"></span>d on the Group\u2019s new s<span class=\"_ _0\"></span>trategic dire<span class=\"_ _0\"></span>ction thro<span class=\"_ _0\"></span>ugh review of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s orga<span class=\"_ _0\"></span>nisationa<span class=\"_ _0\"></span>l </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs9ff\">str<span class=\"_ _0\"></span>ucture an<span class=\"_ _0\"></span>d ultimately by red<span class=\"_ _0\"></span>ucing hea<span class=\"_ _0\"></span>dcount in the b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa00\">Durin<span class=\"_ _0\"></span>g the year, a severanc<span class=\"_ _0\"></span>e cost<span class=\"_ _0\"></span>s provision of \u00a33<span class=\"_ _0\"></span>4 million was es<span class=\"_ _0\"></span>tablishe<span class=\"_ _0\"></span>d repres<span class=\"_ _0\"></span>enting the co<span class=\"_ _0\"></span>sts th<span class=\"_ _0\"></span>at are conside<span class=\"_ _0\"></span>red to be ne<span class=\"_ _0\"></span>cess<span class=\"_ _0\"></span>arily enta<span class=\"_ _0\"></span>iled by </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa01\">this res<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure. The sever<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>sts are sub<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>t to uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y and will be imp<span class=\"_ _0\"></span>acted by th<span class=\"_ _0\"></span>e number of st<span class=\"_ _0\"></span>aff that l<span class=\"_ _0\"></span>eave the Group, an<span class=\"_ _0\"></span>d the averag<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa02\">sala<span class=\"_ _0\"></span>ries and num<span class=\"_ _0\"></span>ber of years\u2019 se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ose affe<span class=\"_ _0\"></span>cted. C<span class=\"_ _0\"></span>ost<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f \u00a3<span class=\"_ _0\"></span>17 million were utilis<span class=\"_ _0\"></span>ed during th<span class=\"_ _0\"></span>e y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar and the re<span class=\"_ _0\"></span>maining provisio<span class=\"_ _0\"></span>n of \u00a317 million </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa03\">is<span class=\"_ gs47\"> </span>expe<span class=\"_ _0\"></span>cted to b<span class=\"_ _0\"></span>e utilised wit<span class=\"_ _0\"></span>hin one year<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 h23 ff3 fs6 fc3 sc0 lsb6 wsb4 gsa04\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ansfer of<span class=\"_ _2\"></span> ReA<span class=\"_ _0\"></span>ssure policy administration<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa05\">Durin<span class=\"_ _0\"></span>g 2023, t<span class=\"_ _0\"></span>he Group ann<span class=\"_ _0\"></span>ounce<span class=\"_ _0\"></span>d its intention to fur<span class=\"_ _0\"></span>ther ex<span class=\"_ _0\"></span>tend it<span class=\"_ _0\"></span>s strate<span class=\"_ _0\"></span>gic par<span class=\"_ _0\"></span>tnersh<span class=\"_ _0\"></span>ip with T<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>S through the m<span class=\"_ _0\"></span>igration of all ReA<span class=\"_ _0\"></span>ssure po<span class=\"_ _0\"></span>licies </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa06\">onto the TCS Ba<span class=\"_ _0\"></span>NCS plat<span class=\"_ _0\"></span>form and th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ation of its op<span class=\"_ _0\"></span>erating lo<span class=\"_ _0\"></span>cations<span class=\"_ _0\"></span>, thereby r<span class=\"_ _0\"></span>aising a valid exp<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>ation of the impac<span class=\"_ _0\"></span>ts in tho<span class=\"_ _0\"></span>se lik<span class=\"_ _2\"></span>el<span class=\"_ _0\"></span>y to </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa07\">be af<span class=\"_ _0\"></span>fected<span class=\"_ _0\"></span>. During th<span class=\"_ _0\"></span>e y<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ar<span class=\"_ _2\"></span>, an ac<span class=\"_ _0\"></span>counting provi<span class=\"_ _0\"></span>sion of \u00a336 m<span class=\"_ _0\"></span>illion was reco<span class=\"_ _0\"></span>gnise<span class=\"_ _0\"></span>d in respec<span class=\"_ _0\"></span>t of the elem<span class=\"_ _0\"></span>ent of migration c<span class=\"_ _0\"></span>osts<span class=\"_ _0\"></span>, severa<span class=\"_ _0\"></span>nce cos<span class=\"_ _0\"></span>ts </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa08\">and as<span class=\"_ _0\"></span>soci<span class=\"_ _0\"></span>ated exit cos<span class=\"_ _0\"></span>ts not c<span class=\"_ _0\"></span>onsidere<span class=\"_ _0\"></span>d to be directl<span class=\"_ _0\"></span>y attrib<span class=\"_ _0\"></span>utable to ins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>s and investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>cts with D<span class=\"_ _0\"></span>PF<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa09\">As with s<span class=\"_ _0\"></span>imilar provision<span class=\"_ _0\"></span>s, migr<span class=\"_ _0\"></span>ation cost<span class=\"_ _0\"></span>s payable to TCS are sub<span class=\"_ _0\"></span>ject to limi<span class=\"_ _0\"></span>ted uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y as they a<span class=\"_ _0\"></span>re fixed under th<span class=\"_ _0\"></span>e terms of the ag<span class=\"_ _0\"></span>reement </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa0a\">entere<span class=\"_ _0\"></span>d into and the sever<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>sts are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to uncer<span class=\"_ _0\"></span>taint<span class=\"_ _0\"></span>y and will be imp<span class=\"_ _0\"></span>acted by th<span class=\"_ _0\"></span>e number of s<span class=\"_ _0\"></span>taff tha<span class=\"_ _0\"></span>t transfer to TCS<span class=\"_ _0\"></span>, and the aver<span class=\"_ _0\"></span>age </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa0b\">sala<span class=\"_ _0\"></span>ries and num<span class=\"_ _0\"></span>ber of years\u2019 se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>ose affe<span class=\"_ _0\"></span>cted.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa0c\">The rem<span class=\"_ _0\"></span>aining provisio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f \u00a3<span class=\"_ _0\"></span>34 million is af<span class=\"_ _0\"></span>ter the imp<span class=\"_ _0\"></span>act of disco<span class=\"_ _0\"></span>unting of \u00a32 million an<span class=\"_ _0\"></span>d is expec<span class=\"_ _0\"></span>ted to be utilis<span class=\"_ _0\"></span>ed within on<span class=\"_ _0\"></span>e to four years<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gsa0d\">Other provisions<span class=\"_ _2\"></span> </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa0e\">Oth<span class=\"_ _0\"></span>er provisions in<span class=\"_ _0\"></span>clude \u00a34 million (2023: \u00a3<span class=\"_ _0\"></span>3 million) of obligatio<span class=\"_ _0\"></span>ns arising un<span class=\"_ _0\"></span>der a gif<span class=\"_ _0\"></span>t v<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>ucher sc<span class=\"_ _0\"></span>heme op<span class=\"_ _0\"></span>erated by the S<span class=\"_ _0\"></span>unLife busin<span class=\"_ _0\"></span>ess and a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa0f\">comm<span class=\"_ _0\"></span>ission cl<span class=\"_ _0\"></span>awback provis<span class=\"_ _0\"></span>ion which repre<span class=\"_ _0\"></span>sents th<span class=\"_ _0\"></span>e expec<span class=\"_ _0\"></span>ted future c<span class=\"_ _0\"></span>lawback of co<span class=\"_ _0\"></span>mmission in<span class=\"_ _0\"></span>come ea<span class=\"_ _0\"></span>rned by the S<span class=\"_ _0\"></span>unLife busine<span class=\"_ _0\"></span>ss as a res<span class=\"_ _0\"></span>ult </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa10\">of<span class=\"_ gs47\"> </span>ass<span class=\"_ _0\"></span>umed laps<span class=\"_ _0\"></span>es of policie<span class=\"_ _0\"></span>s or asso<span class=\"_ _0\"></span>ciated be<span class=\"_ _0\"></span>nefits<span class=\"_ _0\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa11\">The rem<span class=\"_ _0\"></span>aining other p<span class=\"_ _0\"></span>rovisions of \u00a38 million (2<span class=\"_ _0\"></span>023: \u00a36 million) co<span class=\"_ _0\"></span>nsist of a numb<span class=\"_ _0\"></span>er of small bal<span class=\"_ _0\"></span>ances<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gsa12\">Discou<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ing<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa13\">The imp<span class=\"_ _0\"></span>act of disc<span class=\"_ _0\"></span>ounting on provisi<span class=\"_ _0\"></span>ons during the ye<span class=\"_ _0\"></span>ar from eithe<span class=\"_ _0\"></span>r the pass<span class=\"_ _0\"></span>age of time o<span class=\"_ _0\"></span>r from a chang<span class=\"_ _0\"></span>e in the disco<span class=\"_ _0\"></span>unt rate has be<span class=\"_ _0\"></span>en allowed for </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa14\">where t<span class=\"_ _0\"></span>he impac<span class=\"_ _0\"></span>t is conside<span class=\"_ _0\"></span>red to be mater<span class=\"_ _0\"></span>ial.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-683": {
   "value": "A provision i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised whe<span class=\"_ _0\"></span>n the Group ha<span class=\"_ _0\"></span>s a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion, as a re<span class=\"_ _0\"></span>sult of a past event<span class=\"_ _0\"></span>, which is likely to res<span class=\"_ _0\"></span>ult in an out<span class=\"_ _0\"></span>flow of reso<span class=\"_ _0\"></span>urces and wh<span class=\"_ _0\"></span>ere a reliable e<span class=\"_ _0\"></span>stimate of the am<span class=\"_ _0\"></span>ount of the oblig<span class=\"_ _0\"></span>ation can b<span class=\"_ _0\"></span>e made. If th<span class=\"_ _0\"></span>e effec<span class=\"_ _0\"></span>t is material<span class=\"_ _0\"></span>, the provision is determin<span class=\"_ _0\"></span>ed by disc<span class=\"_ _0\"></span>ounting the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d future ca<span class=\"_ _0\"></span>sh flows at a pre<span class=\"_ _0\"></span>-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ax rate that refl<span class=\"_ _0\"></span>ect<span class=\"_ _0\"></span>s current market as<span class=\"_ _0\"></span>sess<span class=\"_ _0\"></span>ments of the tim<span class=\"_ _0\"></span>e value of money and<span class=\"_ _0\"></span>, where appro<span class=\"_ _0\"></span>priate, the ris<span class=\"_ _0\"></span>ks specific to th<span class=\"_ _0\"></span>e liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. A provision i<span class=\"_ _0\"></span>s recogn<span class=\"_ _0\"></span>ised for on<span class=\"_ _0\"></span>erous contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>hen the exp<span class=\"_ _0\"></span>ected b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o b<span class=\"_ _0\"></span>e derived from t<span class=\"_ _0\"></span>he contra<span class=\"_ _0\"></span>cts are le<span class=\"_ _0\"></span>ss than th<span class=\"_ _0\"></span>e related unavoidab<span class=\"_ _0\"></span>le cost<span class=\"_ _0\"></span>s. The un<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>idable cos<span class=\"_ _0\"></span>ts refle<span class=\"_ _0\"></span>ct the net c<span class=\"_ _0\"></span>ost of exitin<span class=\"_ _0\"></span>g the contra<span class=\"_ _0\"></span>ct, whic<span class=\"_ _0\"></span>h is the lower of the co<span class=\"_ _0\"></span>st of fulfilling it an<span class=\"_ _0\"></span>d any comp<span class=\"_ _0\"></span>ensatio<span class=\"_ _0\"></span>n or penal<span class=\"_ _0\"></span>ties arising fro<span class=\"_ _0\"></span>m failure to fulfil it<span class=\"_ _0\"></span>. Cost<span class=\"_ _0\"></span>s that mee<span class=\"_ _0\"></span>t the requirem<span class=\"_ _0\"></span>ents to be cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as a provision b<span class=\"_ _0\"></span>ut are determine<span class=\"_ _0\"></span>d to be direc<span class=\"_ _0\"></span>tly attr<span class=\"_ _0\"></span>ibutable to in<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ontrac<span class=\"_ _0\"></span>ts and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ith DPF are cla<span class=\"_ _0\"></span>ssified w<span class=\"_ _0\"></span>ithin the insur<span class=\"_ _0\"></span>ance contr<span class=\"_ _0\"></span>act as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>. Addition<span class=\"_ _0\"></span>s and redu<span class=\"_ _0\"></span>ctions to provis<span class=\"_ _0\"></span>ions are rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d within adminis<span class=\"_ _0\"></span>trative exp<span class=\"_ _0\"></span>enses wit<span class=\"_ _0\"></span>hin the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span>Where i<span class=\"_ _0\"></span>t is expec<span class=\"_ _0\"></span>ted that a pa<span class=\"_ _0\"></span>rt of the exp<span class=\"_ _0\"></span>enditure re<span class=\"_ _0\"></span>quired to set<span class=\"_ _0\"></span>tle a provisio<span class=\"_ _0\"></span>n will be reimbur<span class=\"_ _0\"></span>sed by a third pa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y the reimbur<span class=\"_ _0\"></span>seme<span class=\"_ _0\"></span>nt is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d when, a<span class=\"_ _0\"></span>nd only whe<span class=\"_ _0\"></span>n, it is vir<span class=\"_ _0\"></span>tually ce<span class=\"_ _0\"></span>rta<span class=\"_ _0\"></span>in that the reimb<span class=\"_ _0\"></span>urseme<span class=\"_ _0\"></span>nt will be rec<span class=\"_ _0\"></span>eived. This re<span class=\"_ _0\"></span>imburse<span class=\"_ _0\"></span>ment is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d as a sepa<span class=\"_ _0\"></span>rate as<span class=\"_ _0\"></span>set within othe<span class=\"_ _0\"></span>r receivab<span class=\"_ _0\"></span>les and will not exc<span class=\"_ _0\"></span>eed th<span class=\"_ _0\"></span>e amount of the provis<span class=\"_ _0\"></span>ion.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-651": {
   "value": "G8. T<span class=\"_ _2\"></span>ax assets and liabilities<span class=\"_ _3bd\"> </span>Deferre<span class=\"_ _0\"></span>d tax is provi<span class=\"_ _0\"></span>ded for on temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities for finan<span class=\"_ _0\"></span>cial repor<span class=\"_ _0\"></span>ting pur<span class=\"_ _0\"></span>poses an<span class=\"_ _0\"></span>d the am<span class=\"_ _0\"></span>ounts use<span class=\"_ _0\"></span>d for taxati<span class=\"_ _0\"></span>on purpos<span class=\"_ _0\"></span>es. Defe<span class=\"_ _0\"></span>rred tax i<span class=\"_ _0\"></span>s not provided in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e initial rec<span class=\"_ _0\"></span>ognition of g<span class=\"_ _0\"></span>oodwill and t<span class=\"_ _0\"></span>he initial rec<span class=\"_ _0\"></span>ognition of as<span class=\"_ _0\"></span>sets or liab<span class=\"_ _0\"></span>ilities in a trans<span class=\"_ _0\"></span>action t<span class=\"_ _0\"></span>hat is not a busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbination an<span class=\"_ _0\"></span>d that, at th<span class=\"_ _0\"></span>e time of the trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>, affe<span class=\"_ _0\"></span>cts nei<span class=\"_ _0\"></span>ther acc<span class=\"_ _0\"></span>ounting nor tax<span class=\"_ _0\"></span>able profit. T<span class=\"_ _0\"></span>he amount of deferre<span class=\"_ _0\"></span>d tax provid<span class=\"_ _0\"></span>ed is bas<span class=\"_ _0\"></span>ed on the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d manner of re<span class=\"_ _0\"></span>alisation or s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of the ca<span class=\"_ _0\"></span>rrying a<span class=\"_ _0\"></span>mount of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities, u<span class=\"_ _0\"></span>sing tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span>A deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d only to the ex<span class=\"_ _0\"></span>tent that it is pro<span class=\"_ _0\"></span>bable that f<span class=\"_ _0\"></span>uture tax<span class=\"_ _0\"></span>able profits will b<span class=\"_ _0\"></span>e available ag<span class=\"_ _0\"></span>ainst whi<span class=\"_ _0\"></span>ch the ass<span class=\"_ _0\"></span>et can be utilise<span class=\"_ _0\"></span>d. Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d to the extent t<span class=\"_ _0\"></span>hat it is no lon<span class=\"_ _0\"></span>ger proba<span class=\"_ _0\"></span>ble that the re<span class=\"_ _0\"></span>lated tax b<span class=\"_ _0\"></span>enefit will b<span class=\"_ _0\"></span>e realised<span class=\"_ _0\"></span>. <table class=\"s wa34 h2b2\" id=\"_fb7e87a5-b6ee-4241-ab6e-3fb494ea6c41\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y61e0 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y61e1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y61e2 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y61e3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61e3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y61e4 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae4 wa35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax rece<span class=\"_ _0\"></span>ivable<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d24 y5ae4 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">523<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d25 y5ae4 w101 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5e wsb2\">502<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wa36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax payable<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3f y5ae5 wa02 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d26 y5ae5 wa37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y61e5 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a15 wfb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d27 y5a15 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d28 y5a15 wa38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">143<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a16 wa39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax liab<span class=\"_ _0\"></span>ilities (resta<span class=\"_ _0\"></span>ted)</div><div class=\"t m0 x1d29 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x730 y5a16 w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x33b y5a16 w1ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span><span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Movement in deferred tax liabilities<span class=\"_ _3bd\"> </span><table class=\"s wa3a h2b3\" id=\"_d6c8aa67-241e-467b-bf02-fcaed74001f5\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x972 h29 y61e6 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n </td><td class=\"t m0 x75e h29 y61e6 ff3 fs5 fc3 sc0 lsa ws9\">Recognise<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x3bd h29 y61e7 ff3 fs5 fc3 sc0 ls8d ws86\">consolidated </td><td class=\"t m0 x1705 h29 y61e7 ff3 fs5 fc3 sc0 ls1b9 wsc0\"> in other </td><td></td></tr><tr><td></td><td class=\"t m0 x3a4 h29 y61e8 ff3 fs5 fc3 sc0 lsbe wsbe\">1 January<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x49b h29 y61e8 ff3 fs5 fc3 sc0 lsbe wsbe\">1 January<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y61e8 ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td class=\"t m0 xcbf h29 y61e8 ff3 fs5 fc3 sc0 ls1f6 ws215\">comprehensive </td><td></td></tr><tr><td></td><td class=\"t m0 x1967 h29 y61e9 ff3 fs5 fc3 sc0 ls1 ws1\">as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></td><td class=\"c x1d2b y61ea wa3b h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Restate<span class=\"_ _0\"></span>ments</div><div class=\"t m0 x1d2a h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d2d y61ea wa3c h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">restate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1d2c h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x1d2e h29 y61e9 ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ee h29 y61e9 ff3 fs5 fc3 sc0 ls1b9 ws1cc\">income<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa30 h29 y61e9 ff3 fs5 fc3 sc0 lsbe wsbe\">31 December<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y61eb ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y61eb ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 x2e0 h29 y61eb ff3 fs5 fc3 sc0 ls1f7 ws5c\">\u00a3m<span class=\"_ _0\"></span> </td><td class=\"t m0 x28b h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y61ec wa3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ading los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d2f y61ec w8b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">355<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d30 y61ec w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d31 y61ec w179 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d32 y61ec w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d33 y61ec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d34 y61ec w3c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">536<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ed wa3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Capital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d35 y61ed w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d36 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x112f y61ed w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d37 y61ed w9f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d38 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d39 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ee wa3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s and deferre<span class=\"_ _0\"></span>d acquisit<span class=\"_ _0\"></span>ion cost<span class=\"_ _0\"></span>s carrie<span class=\"_ _0\"></span>d forward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3a y61ee w86e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">422<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3b y61ee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3c y61ee w1c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3d y61ee w80 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>177<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3e y61ee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3f y61ee w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">245<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ef wa40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Provision<span class=\"_ _0\"></span>s and other temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differe<span class=\"_ _0\"></span>nces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d40 y61ef w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d41 y61ef w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d42 y61ef wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d43 y61ef w4f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d44 y61ef we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d45 y61ef w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61f0 wa41 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>refundable p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme sur<span class=\"_ _0\"></span>plus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d46 y61f0 w70b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d47 y61f0 w345 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d48 y61f0 w766 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d49 y61f0 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4a y61f0 wa42 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4b y61f0 w395 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">(57<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61f1 w95f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>d future pen<span class=\"_ _0\"></span>sion contrib<span class=\"_ _0\"></span>utions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4c y61f1 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4d y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4e y61f1 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4f y61f1 w381 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d50 y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d51 y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f2 wa43 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ansition<span class=\"_ _0\"></span>al adjus<span class=\"_ _0\"></span>tment relat<span class=\"_ _0\"></span>ing to IFRS 9/17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d52 y61f2 w825 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d53 y61f2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d54 y61f2 wcc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d55 y61f2 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d56 y61f2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d57 y61f2 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f3 wa44 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Acceler<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>apital allowances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d58 y61f3 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d59 y61f3 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5a y61f3 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bc y61f3 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5b y61f3 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5c y61f3 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f4 wa45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5d y61f4 wa46 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe4 y61f4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5e y61f4 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5f y61f4 w704 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d60 y61f4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d61 y61f4 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f5 wce h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Acquire<span class=\"_ _0\"></span>d in-force busin<span class=\"_ _0\"></span>ess<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d62 y61f5 w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d63 y61f5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d64 y61f5 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d65 y61f5 wa2e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d66 y61f5 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d67 y61f5 wa47 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(31<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d08 wa48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cus<span class=\"_ _0\"></span>tomer relati<span class=\"_ _0\"></span>onships<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131f y5d08 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5d08 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d68 y5d08 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d69 y5d08 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6a y5d08 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6b y5d08 wa49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 wa4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unrea<span class=\"_ _0\"></span>lised ga<span class=\"_ _0\"></span>ins<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6c y5c49 w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6d y5c49 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6e y5c49 w66d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6f y5c49 wa4b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d70 y5c49 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d71 y5c49 w4d8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 wa4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en loca<span class=\"_ _0\"></span>l G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP and IFR<span class=\"_ _0\"></span>S<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1497 y5c15 w70b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d72 y5c15 w49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>124)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d73 y5c15 w49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>242)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d74 y5c15 w2c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d75 y5c15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d76 y5c15 w503 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(69)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c4b w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d77 y5c4b w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a5 y5c4b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d78 y5c4b w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d79 y5c4b w4d3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7a y5c4b we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7b y5c4b w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x934 y5a16 w66d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(114)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7c y5a16 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7d y5a16 w80 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>177<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7e y5a16 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">157<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7f y5a16 w1d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d80 y5a16 w2d6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s wa4d h2b4\" id=\"_3680de8e-9cc2-439e-ae38-60596358d4a4\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x499 ha y61f6 ff2 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x1251 ha y61f7 ff2 fs5 fc3 sc0 ls11 ws11\">consolidated </td><td class=\"t m13f x2e5 ha y61f7 ff2 fs5 fc3 sc0 ls9c ws97\">Recognis<span class=\"_ _0\"></span>ed <span class=\"_ _2\"></span><span class=\"ls1 ws1\"> </span></td><td class=\"t m0 xa12 ha y61f7 ff2 fs5 fc3 sc0 ls1 ws1\">Pho<span class=\"_ _0\"></span>enix L<span class=\"_ _0\"></span>ife </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x2e4 ha y61f8 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td class=\"t m13f x490 ha y61f8 ff2 fs5 fc3 sc0 ls142 wsbf\">in o<span class=\"_ _2\"></span>ther </td><td class=\"t m0 x908 ha y61f8 ff2 fs5 fc3 sc0 ls1 ws1\">CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s </td><td></td><td class=\"t m0 x492 ha y61f8 ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s amo<span class=\"_ _0\"></span>unts </td><td></td></tr><tr><td></td><td class=\"t m0 x1d81 ha y61f9 ff2 fs5 fc3 sc0 ls11 ws11\">1 January<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 xdff ha y61f9 ff2 fs5 fc3 sc0 ls11 ws11\">1 January<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3a4 ha y61f9 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _2\"></span> </td><td class=\"t m13f x2eb ha y61f9 ff2 fs5 fc3 sc0 ls142 ws14e\">comprehensiv<span class=\"_ _2\"></span>e </td><td class=\"t m0 x1d82 ha y61f9 ff2 fs5 fc3 sc0 ls1 ws1\">Limi<span class=\"_ _0\"></span>ted </td><td class=\"t m0 x187c ha y61f9 ff2 fs5 fc3 sc0 ls4d wsbf\">Other </td><td class=\"t m0 x1d83 ha y61f9 ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 x2f9 ha y61fa ff2 fs5 fc3 sc0 ls1 ws1\">as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></td><td class=\"c x92b y61fb wa4e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">Restatements</div><div class=\"t m0 x1d84 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d86 y61fb wa4f h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d85 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d88 y61fb wa50 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d87 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m13f x490 ha y61fa ff2 fs5 fc3 sc0 lsa4 ws9f\">income<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bc ha y61fa ff2 fs5 fc3 sc0 ls22 ws24\">acquisition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 ha y61fa ff2 fs5 fc3 sc0 ls4d wsbf\">movements<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe3c ha y61fa ff2 fs5 fc3 sc0 ls11 ws11\">held for sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d89 ha y61fa ff2 fs5 fc3 sc0 lsa6 wsa1\">31 December<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y61fc ff2 fs5 fc3 sc0 ls11 ws11\">2023 (restated)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e8 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y61fd wa3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ading los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8a y61fd w862 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">196<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8b y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8c y61fd w59a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8d y61fd w8f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8e y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8f y61fd wf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d90 y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d91 y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d92 y61fd w103 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">399<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61fe wa3e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">Capital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d93 y61fe w4f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d94 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d95 y61fe w7b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab0 y61fe w87a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d96 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d97 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b3 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b4 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b5 y61fe w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y61ff ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s and deferre<span class=\"_ _0\"></span>d acquisit<span class=\"_ _0\"></span>ion </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6200 wa51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">cost<span class=\"_ _0\"></span>s carried forward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d98 y6200 w85a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">397<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d99 y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9a y6200 w16f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">397<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9b y6200 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9c y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9d y6200 w1f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9e y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9f y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da0 y6200 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6201 wa52 h204\"><div class=\"t m0 x1cf hc y5a89 ff2 fs6 fc3 sc0 ls1 ws1\">Provision<span class=\"_ _0\"></span>s and other<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">temporary di<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>erences<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da1 y6201 w19f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da2 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da3 y6201 w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da4 y6201 wa53 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ee y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131c y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da5 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da6 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7b y6201 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6202 ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>refundable p<span class=\"_ _0\"></span>ension </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6203 wa54 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">scheme surp<span class=\"_ _2\"></span>lus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da7 y6203 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(1<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da8 y6203 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da9 y6203 wa55 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>142<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd78 y6203 w763 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1daa y6203 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dab y6203 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bc y6203 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10cc y6203 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ac y6203 wa56 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6204 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>d future pen<span class=\"_ _0\"></span>sion </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6205 wa57 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">contributions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dac y6205 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dad y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dae y6205 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1daf y6205 wa58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db0 y6205 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db1 y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7f y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db2 y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf7 y6205 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6206 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>ransitional a<span class=\"_ _0\"></span>djustment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6207 wa59 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">relatin<span class=\"_ _0\"></span>g to IFRS 9/17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db3 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db4 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db5 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db6 y6207 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db7 y6207 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a3 y6207 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db8 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db9 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dba y6207 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6208 wa44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">Acceler<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>apital allowances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbb y6208 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da2 y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbc y6208 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbd y6208 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbe y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbf y6208 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b4 y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc0 y6208 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc1 y6208 wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6209 wa45 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc2 y6209 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc3 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc4 y6209 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc5 y6209 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc6 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc7 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc8 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc9 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abc y6209 wa5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y620a wce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Acquire<span class=\"_ _0\"></span>d in-force busin<span class=\"_ _0\"></span>ess<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dca y620a wa5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcb y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcc y620a wa5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcd y620a w89c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dce y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcf y620a w62e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd0 y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd1 y620a w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1205 y620a w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dc7 wa48 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cus<span class=\"_ _0\"></span>tomer relati<span class=\"_ _0\"></span>onships<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd2 y5dc7 w28f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd3 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd4 y5dc7 wa53 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd5 y5dc7 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd6 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106b y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd7 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd8 y5dc7 w991 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b12 wa4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Unrea<span class=\"_ _0\"></span>lised ga<span class=\"_ _0\"></span>ins<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd9 y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(261<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dda y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddb y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>261)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddc y5b12 w314 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(<span class=\"_ _0\"></span>77)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddd y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dde y5b12 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(23)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddf y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de0 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de1 y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y620b ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 wa5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">bet<span class=\"_ _0\"></span>ween lo<span class=\"_ _0\"></span>cal GAAP a<span class=\"_ _0\"></span>nd IFRS<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de2 y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de3 y5b24 w9e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de4 y5b24 w9bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de5 y5b24 wa5e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de6 y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de7 y5b24 w392 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de8 y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de9 y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dea y5b24 wa5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>242<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w34c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1deb y5b25 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dec y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ded y5b25 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dee y5b25 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1def y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190d y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df0 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df1 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b0 y5b25 w4c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x196d y5a16 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>151<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df2 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df3 y5a16 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>151<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df4 y5a16 w5ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df5 y5a16 w2a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df6 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df7 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df8 y5a16 wa5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df9 y5a16 wa60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>177<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span>The s<span class=\"_ _0\"></span>tandard r<span class=\"_ _0\"></span>ate of UK corp<span class=\"_ _0\"></span>oration ta<span class=\"_ _0\"></span>x for the year en<span class=\"_ _0\"></span>ded 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 is 2<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% (20<span class=\"_ _0\"></span>23: 23.<span class=\"_ _0\"></span>5%)<span class=\"_ _2\"></span>. Sha<span class=\"_ _0\"></span>reholde<span class=\"_ _0\"></span>r deferred ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es, wh<span class=\"_ _0\"></span>ere provided<span class=\"_ _0\"></span>, are reflec<span class=\"_ _0\"></span>ted at 25%<span class=\"_ _0\"></span>. Deferred in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised fo<span class=\"_ _0\"></span>r tax los<span class=\"_ _0\"></span>ses car<span class=\"_ _0\"></span>ried for<span class=\"_ _0\"></span>ward only to the ex<span class=\"_ _0\"></span>tent that re<span class=\"_ _0\"></span>alisation of the re<span class=\"_ _0\"></span>lated ta<span class=\"_ _0\"></span>x benefit is p<span class=\"_ _0\"></span>robable.<span class=\"_ _3bd\"> </span>The defe<span class=\"_ _0\"></span>rred tax a<span class=\"_ _0\"></span>sset rel<span class=\"_ _0\"></span>ating to tradin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s has incre<span class=\"_ _0\"></span>ased in 2024 from \u00a33<span class=\"_ _0\"></span>99 milli<span class=\"_ _0\"></span>on to \u00a3536 m<span class=\"_ _0\"></span>illion, as sh<span class=\"_ _0\"></span>own in the table a<span class=\"_ _0\"></span>bove (2023: incre<span class=\"_ _0\"></span>ase from \u00a31<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>6 million to \u00a339<span class=\"_ _0\"></span>9 million). This ha<span class=\"_ _0\"></span>s arisen pr<span class=\"_ _0\"></span>incipally due to n<span class=\"_ _0\"></span>et taxab<span class=\"_ _0\"></span>le losse<span class=\"_ _0\"></span>s arising within t<span class=\"_ _0\"></span>he cons<span class=\"_ _0\"></span>tituent entit<span class=\"_ _0\"></span>ies of the Group. The Gro<span class=\"_ _0\"></span>up utilises p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>recas<span class=\"_ _0\"></span>ts to supp<span class=\"_ _0\"></span>ort rec<span class=\"_ _0\"></span>ognition of a defe<span class=\"_ _0\"></span>rred tax a<span class=\"_ _0\"></span>sset in rel<span class=\"_ _0\"></span>ation to the los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>. The profit forec<span class=\"_ _0\"></span>ast<span class=\"_ _0\"></span>s are prepare<span class=\"_ _0\"></span>d for the Annua<span class=\"_ _0\"></span>l Opera<span class=\"_ _0\"></span>ting Plan which is u<span class=\"_ _0\"></span>sed for vario<span class=\"_ _0\"></span>us purpos<span class=\"_ _0\"></span>es includin<span class=\"_ _0\"></span>g target s<span class=\"_ _0\"></span>ettin<span class=\"_ _0\"></span>g, divide<span class=\"_ _0\"></span>nd afforda<span class=\"_ _0\"></span>bility as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sments a<span class=\"_ _0\"></span>nd going c<span class=\"_ _0\"></span>oncern<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>ers the fore<span class=\"_ _0\"></span>cast<span class=\"_ _0\"></span>s to be a reliabl<span class=\"_ _0\"></span>e source of informati<span class=\"_ _0\"></span>on to suppor<span class=\"_ _0\"></span>t the rec<span class=\"_ _0\"></span>ognition of a defer<span class=\"_ _0\"></span>red tax a<span class=\"_ _0\"></span>sset in rela<span class=\"_ _0\"></span>tion to the los<span class=\"_ _0\"></span>ses. The fore<span class=\"_ _0\"></span>cas<span class=\"_ _0\"></span>ts sugg<span class=\"_ _0\"></span>est th<span class=\"_ _0\"></span>at the loss<span class=\"_ _0\"></span>es will be utilis<span class=\"_ _0\"></span>ed in full within 8 ye<span class=\"_ _0\"></span>ars.<span class=\"_ _3bd\"> </span><table class=\"s w85f h2b5\" id=\"_8464c4fc-f065-4ac5-a419-58259deab2b5\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y620c ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x1ce h29 y620d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y620e w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y620f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6210 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y6211 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e n<span class=\"_ _0\"></span>ot been re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in resp<span class=\"_ _0\"></span>ect of:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6212 wa61 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax los<span class=\"_ _0\"></span>ses c<span class=\"_ _0\"></span>arried for<span class=\"_ _0\"></span>ward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c3 y6212 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfa y6212 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">99<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6213 wa62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ess exp<span class=\"_ _0\"></span>enses a<span class=\"_ _0\"></span>nd deferred a<span class=\"_ _0\"></span>cquisition c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfb y6213 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfc y6213 w1b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6214 wa63 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en loca<span class=\"_ _0\"></span>l G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP and IFR<span class=\"_ _0\"></span>S 17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfd y6214 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfe y6214 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wa45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70c y5a15 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5a15 w1b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa64 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets n<span class=\"_ _0\"></span>ot recog<span class=\"_ _0\"></span>nised on c<span class=\"_ _0\"></span>apital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d24 y5a16 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dff y5a16 w12c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">119<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>t to the 20<span class=\"_ _0\"></span>23 defer<span class=\"_ _0\"></span>red ta<span class=\"_ _0\"></span>x ass<span class=\"_ _0\"></span>ets n<span class=\"_ _0\"></span>ot reco<span class=\"_ _0\"></span>gnis<span class=\"_ _0\"></span>ed rel<span class=\"_ _0\"></span>ates pr<span class=\"_ _0\"></span>incip<span class=\"_ _0\"></span>ally to Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Lim<span class=\"_ _0\"></span>ited<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s (fo<span class=\"_ _0\"></span>rmer<span class=\"_ _0\"></span>ly know<span class=\"_ _0\"></span>n as Sun Li<span class=\"_ _0\"></span>fe Ass<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany of Ca<span class=\"_ _0\"></span>nada (<span class=\"_ _0\"></span>U.K<span class=\"_ _0\"></span>.) Limi<span class=\"_ _0\"></span>ted) t<span class=\"_ _0\"></span>ax los<span class=\"_ _0\"></span>ses foll<span class=\"_ _0\"></span>owing a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>sition o<span class=\"_ _0\"></span>f the com<span class=\"_ _0\"></span>pany in 2<span class=\"_ _0\"></span>023. T<span class=\"_ _0\"></span>he ad<span class=\"_ _0\"></span>just<span class=\"_ _0\"></span>ment n<span class=\"_ _0\"></span>ow incl<span class=\"_ _0\"></span>udes th<span class=\"_ _0\"></span>ese t<span class=\"_ _0\"></span>ax los<span class=\"_ _0\"></span>ses at t<span class=\"_ _0\"></span>heir t<span class=\"_ _0\"></span>ax valu<span class=\"_ _0\"></span>e rath<span class=\"_ _0\"></span>er than t<span class=\"_ _0\"></span>he gro<span class=\"_ _0\"></span>ss amo<span class=\"_ _0\"></span>unt, a<span class=\"_ _0\"></span>lignin<span class=\"_ _0\"></span>g with th<span class=\"_ _0\"></span>e Grou<span class=\"_ _0\"></span>p\u2019<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>ferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s not r<span class=\"_ _0\"></span>ecog<span class=\"_ _0\"></span>nise<span class=\"_ _0\"></span>d. At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group also h<span class=\"_ _0\"></span>ad \u00a312 millio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f g<span class=\"_ _0\"></span>ross BL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>GAB (life bus<span class=\"_ _0\"></span>iness) tra<span class=\"_ _0\"></span>ding loss<span class=\"_ _0\"></span>es that were pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to be utilise<span class=\"_ _0\"></span>d, however no<span class=\"_ gs47\"> </span>valu<span class=\"_ _0\"></span>e was attr<span class=\"_ _0\"></span>ibuted to the<span class=\"_ _0\"></span>se deferred t<span class=\"_ _0\"></span>ax ass<span class=\"_ _0\"></span>ets given th<span class=\"_ _0\"></span>e interacti<span class=\"_ _0\"></span>on with other de<span class=\"_ _0\"></span>ductibl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>mporar<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences<span class=\"_ _0\"></span>. At 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4, the<span class=\"_ gs47\"> </span>qua<span class=\"_ _0\"></span>ntum of BLAGAB tradin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s that no value h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n attribu<span class=\"_ _0\"></span>ted to is \u00a3nil.<span class=\"_ _3bd\"> </span>There i<span class=\"_ _0\"></span>s a technic<span class=\"_ _0\"></span>al matte<span class=\"_ _0\"></span>r which is curre<span class=\"_ _0\"></span>ntly being dis<span class=\"_ _0\"></span>cuss<span class=\"_ _0\"></span>ed with HM<span class=\"_ _0\"></span>RC in relatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e L&amp;G insur<span class=\"_ _0\"></span>ance bu<span class=\"_ _0\"></span>siness tr<span class=\"_ _0\"></span>ansfer to ReA<span class=\"_ _0\"></span>ssure Limite<span class=\"_ _0\"></span>d. The<span class=\"_ _0\"></span>se discus<span class=\"_ _0\"></span>sions are n<span class=\"_ _0\"></span>ot sufficie<span class=\"_ _0\"></span>ntly progre<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>t this sta<span class=\"_ _0\"></span>ge for reco<span class=\"_ _0\"></span>gnition of any potenti<span class=\"_ _0\"></span>al tax be<span class=\"_ _0\"></span>nefit arising<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up in conj<span class=\"_ _0\"></span>unction with a n<span class=\"_ _0\"></span>umber of other c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s has challe<span class=\"_ _0\"></span>nged H<span class=\"_ _0\"></span>MRC<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>osition on th<span class=\"_ _0\"></span>e corporat<span class=\"_ _0\"></span>ion tax tre<span class=\"_ _0\"></span>atment of overse<span class=\"_ _0\"></span>as por<span class=\"_ _0\"></span>tfolio di<span class=\"_ _0\"></span>vidends from c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s resident in th<span class=\"_ _0\"></span>e E<span class=\"_ _2\"></span>U (<span class=\"_ _0\"></span>\u2018EU divid<span class=\"_ _0\"></span>ends\u2019) u<span class=\"_ _0\"></span>sing a Group Litig<span class=\"_ _0\"></span>ation Orde<span class=\"_ _0\"></span>r (\u2018GLO\u2019). The is<span class=\"_ _0\"></span>sue relate<span class=\"_ _0\"></span>s to whether th<span class=\"_ _0\"></span>e UK tax r<span class=\"_ _0\"></span>ules, w<span class=\"_ _0\"></span>hich taxe<span class=\"_ _0\"></span>d EU dividends re<span class=\"_ _0\"></span>ceived p<span class=\"_ _0\"></span>rior to 1 July 20<span class=\"_ _0\"></span>09, wa<span class=\"_ _0\"></span>s contrar<span class=\"_ _0\"></span>y to EU law given th<span class=\"_ _0\"></span>at dividend<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d from UK comp<span class=\"_ _0\"></span>anies were exempt from t<span class=\"_ _0\"></span>ax. In 2<span class=\"_ _0\"></span>00<span class=\"_ _0\"></span>9 UK tax law w<span class=\"_ _0\"></span>as chang<span class=\"_ _0\"></span>ed with bot<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>ver<span class=\"_ _0\"></span>seas a<span class=\"_ _0\"></span>nd UK divide<span class=\"_ _0\"></span>nds bein<span class=\"_ _0\"></span>g treated as exem<span class=\"_ _0\"></span>pt from corpor<span class=\"_ _0\"></span>ation tax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In July 2<span class=\"_ _0\"></span>018<span class=\"_ _0\"></span>, the Supre<span class=\"_ _0\"></span>me Cour<span class=\"_ _0\"></span>t conc<span class=\"_ _0\"></span>luded in favour of th<span class=\"_ _0\"></span>e tax payer an<span class=\"_ _0\"></span>d a tax be<span class=\"_ _0\"></span>nefit of \u00a313 million w<span class=\"_ _0\"></span>as reco<span class=\"_ _0\"></span>gnised at th<span class=\"_ _0\"></span>e end of 201<span class=\"_ _0\"></span>8 in relation to enha<span class=\"_ _0\"></span>nced do<span class=\"_ _0\"></span>uble tax re<span class=\"_ _0\"></span>lief claims whic<span class=\"_ _0\"></span>h the Group is enti<span class=\"_ _0\"></span>tled to in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the Cour<span class=\"_ _0\"></span>t judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>. As a result of the in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s tran<span class=\"_ _0\"></span>sfer from Leg<span class=\"_ _0\"></span>al and Gen<span class=\"_ _0\"></span>eral As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Societ<span class=\"_ _0\"></span>y during 2<span class=\"_ _0\"></span>020, the ta<span class=\"_ _0\"></span>x refund for the b<span class=\"_ _0\"></span>enefit of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s with-<span class=\"_ _0\"></span>profits and unit lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed f<span class=\"_ _0\"></span>unds incre<span class=\"_ _0\"></span>ased to \u00a345 million a<span class=\"_ _0\"></span>nd \u00a323 million re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively<span class=\"_ _2\"></span>. D<span class=\"_ _0\"></span>uring 2024 tax refun<span class=\"_ _0\"></span>ds totaling \u00a3<span class=\"_ _0\"></span>11 million were rec<span class=\"_ _0\"></span>eived and th<span class=\"_ _0\"></span>e value of the rema<span class=\"_ _0\"></span>ining tax recl<span class=\"_ _0\"></span>aims were revise<span class=\"_ _0\"></span>d downwards by a fur<span class=\"_ _0\"></span>ther \u00a3<span class=\"_ _0\"></span>11m. At 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024, the ta<span class=\"_ _0\"></span>x refunds for Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s with-<span class=\"_ _0\"></span>profits fund<span class=\"_ _0\"></span>s and unit linked fun<span class=\"_ _0\"></span>ds are \u00a33<span class=\"_ _0\"></span>6 million and \u00a3<span class=\"_ _0\"></span>10 million res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>. In th<span class=\"_ _0\"></span>e case of the w<span class=\"_ _0\"></span>ith-profits f<span class=\"_ _0\"></span>unds there wa<span class=\"_ _0\"></span>s an increas<span class=\"_ _0\"></span>e in unalloc<span class=\"_ _0\"></span>ated surplu<span class=\"_ _0\"></span>s and for the unit linked fund<span class=\"_ _0\"></span>s there was a co<span class=\"_ _0\"></span>rrespon<span class=\"_ _0\"></span>ding increa<span class=\"_ _0\"></span>se in investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities a<span class=\"_ _0\"></span>s a result of the rec<span class=\"_ _0\"></span>ognition of th<span class=\"_ _0\"></span>e tax as<span class=\"_ _0\"></span>set. Set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent of this issu<span class=\"_ _0\"></span>e is subje<span class=\"_ _0\"></span>ct to ongoin<span class=\"_ _0\"></span>g litigation w<span class=\"_ _0\"></span>ith most re<span class=\"_ _0\"></span>cently, the Co<span class=\"_ _0\"></span>urt of Appe<span class=\"_ _0\"></span>al ruling in favour of H<span class=\"_ _0\"></span>MRC in Febr<span class=\"_ _0\"></span>uary 2<span class=\"_ _0\"></span>025. Con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n is being give<span class=\"_ _0\"></span>n as to whether t<span class=\"_ _0\"></span>his ruling will be a<span class=\"_ _0\"></span>ppeale<span class=\"_ _0\"></span>d at the Supre<span class=\"_ _0\"></span>me Cour<span class=\"_ _0\"></span>t. The Gro<span class=\"_ _0\"></span>up is continuin<span class=\"_ _0\"></span>g to monitor develo<span class=\"_ _0\"></span>pments in re<span class=\"_ _0\"></span>lation to the G20<span class=\"_ _0\"></span>-O<span class=\"_ _0\"></span>ECD Inclu<span class=\"_ _0\"></span>sive F<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>amework \u201c<span class=\"_ _0\"></span>Pillar T<span class=\"_ _4\"></span>wo\u201d rul<span class=\"_ _0\"></span>es, as th<span class=\"_ _0\"></span>e Group is within s<span class=\"_ _0\"></span>cope of the rule<span class=\"_ _0\"></span>s from 1 Janua<span class=\"_ _0\"></span>ry 2024. Bro<span class=\"_ _0\"></span>adly<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>ese rule<span class=\"_ _0\"></span>s seek to en<span class=\"_ _0\"></span>sure that, o<span class=\"_ _0\"></span>n a jurisdic<span class=\"_ _0\"></span>tion-by-juri<span class=\"_ _0\"></span>sdiction b<span class=\"_ _0\"></span>asis, l<span class=\"_ _0\"></span>arge multina<span class=\"_ _0\"></span>tional enterp<span class=\"_ _0\"></span>rises pay a<span class=\"_ gs47\"> </span>minimum t<span class=\"_ _0\"></span>ax rate of 15% on worl<span class=\"_ _0\"></span>dwide profit<span class=\"_ _0\"></span>s arising af<span class=\"_ _0\"></span>ter 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>023. In May 2<span class=\"_ _0\"></span>023, the s<span class=\"_ _0\"></span>cope of IAS 12 h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n amende<span class=\"_ _0\"></span>d to clarif<span class=\"_ _0\"></span>y that the s<span class=\"_ _0\"></span>tandard a<span class=\"_ _0\"></span>pplies to inco<span class=\"_ _0\"></span>me taxes a<span class=\"_ _0\"></span>rising from ta<span class=\"_ _0\"></span>x law enac<span class=\"_ _0\"></span>ted or subs<span class=\"_ _0\"></span>tantively e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o im<span class=\"_ _0\"></span>plement th<span class=\"_ _0\"></span>e Pillar T<span class=\"_ _4\"></span>wo m<span class=\"_ _0\"></span>odel rule<span class=\"_ _0\"></span>s publishe<span class=\"_ _0\"></span>d by the OECD, inc<span class=\"_ _0\"></span>luding ta<span class=\"_ _0\"></span>x law that imple<span class=\"_ _0\"></span>ments qu<span class=\"_ _0\"></span>alified dom<span class=\"_ _0\"></span>estic minimum top<span class=\"_ _0\"></span>-up taxe<span class=\"_ _0\"></span>s describ<span class=\"_ _0\"></span>ed in those r<span class=\"_ _0\"></span>ules. T<span class=\"_ _0\"></span>he amendm<span class=\"_ _0\"></span>ents introd<span class=\"_ _0\"></span>uce a tempo<span class=\"_ _0\"></span>rary exc<span class=\"_ _0\"></span>eption to the ac<span class=\"_ _0\"></span>counting re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s for deferred taxe<span class=\"_ _0\"></span>s in IAS 12, so th<span class=\"_ _0\"></span>at an entit<span class=\"_ _0\"></span>y would neith<span class=\"_ _0\"></span>er reco<span class=\"_ _0\"></span>gnise nor di<span class=\"_ _0\"></span>sclose inform<span class=\"_ _0\"></span>ation abou<span class=\"_ _0\"></span>t deferred ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies related to Pilla<span class=\"_ _0\"></span>r T<span class=\"_ _4\"></span>wo inco<span class=\"_ _0\"></span>me taxes<span class=\"_ _0\"></span>. The Group c<span class=\"_ _0\"></span>onfirms that i<span class=\"_ _0\"></span>t has applie<span class=\"_ _0\"></span>d this exception d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>ain jurisdic<span class=\"_ _0\"></span>tions in which th<span class=\"_ _0\"></span>e Group may have exp<span class=\"_ _0\"></span>osures to Pillar T<span class=\"_ _2\"></span>wo inc<span class=\"_ _0\"></span>ome taxe<span class=\"_ _0\"></span>s are Ireland a<span class=\"_ _0\"></span>nd the UK<span class=\"_ _0\"></span>. As at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as accr<span class=\"_ _0\"></span>ued \u00a3nil in resp<span class=\"_ _0\"></span>ect of Pillar T<span class=\"_ _2\"></span>wo inc<span class=\"_ _0\"></span>ome taxes b<span class=\"_ _0\"></span>ased on i<span class=\"_ _0\"></span>ts lates<span class=\"_ _0\"></span>t asses<span class=\"_ _0\"></span>sment<span class=\"_ _0\"></span>. The Group al<span class=\"_ _0\"></span>so notes that t<span class=\"_ _0\"></span>he Pillar T<span class=\"_ _4\"></span>wo in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes leg<span class=\"_ _0\"></span>islation is exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to continue devel<span class=\"_ _0\"></span>oping, th<span class=\"_ _0\"></span>e rules are inh<span class=\"_ _0\"></span>erently com<span class=\"_ _0\"></span>plex and c<span class=\"_ _0\"></span>an potentially le<span class=\"_ _0\"></span>ad to arbitra<span class=\"_ _0\"></span>ry outc<span class=\"_ _0\"></span>omes an<span class=\"_ _0\"></span>d therefore, the Group is c<span class=\"_ _0\"></span>ontinuing to as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>s the impac<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Pillar T<span class=\"_ _4\"></span>wo in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes legis<span class=\"_ _0\"></span>lation on its o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s. The Gro<span class=\"_ _0\"></span>up also notes t<span class=\"_ _0\"></span>he enac<span class=\"_ _0\"></span>tment of leg<span class=\"_ _0\"></span>islation in Be<span class=\"_ _0\"></span>rmuda in De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023 which intro<span class=\"_ _0\"></span>duced a C<span class=\"_ _0\"></span>orporate I<span class=\"_ _0\"></span>ncome T<span class=\"_ _2\"></span>ax w<span class=\"_ _0\"></span>ith a headlin<span class=\"_ _0\"></span>e rate of<span class=\"_ gs47\"> </span>15% ef<span class=\"_ _0\"></span>fective from 1 J<span class=\"_ _0\"></span>anuar<span class=\"_ _0\"></span>y 2025. T<span class=\"_ _0\"></span>his legis<span class=\"_ _0\"></span>lation applie<span class=\"_ _0\"></span>s to the Group\u2019s local B<span class=\"_ _0\"></span>ermudian o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s. Given th<span class=\"_ _0\"></span>e current size of local o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s, the Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect th<span class=\"_ _0\"></span>e immediate im<span class=\"_ _0\"></span>pact to be m<span class=\"_ _0\"></span>aterial.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-602": {
   "value": "G8. T<span class=\"_ _2\"></span>ax assets and liabilities<span class=\"_ _3bd\"> </span>Deferre<span class=\"_ _0\"></span>d tax is provi<span class=\"_ _0\"></span>ded for on temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities for finan<span class=\"_ _0\"></span>cial repor<span class=\"_ _0\"></span>ting pur<span class=\"_ _0\"></span>poses an<span class=\"_ _0\"></span>d the am<span class=\"_ _0\"></span>ounts use<span class=\"_ _0\"></span>d for taxati<span class=\"_ _0\"></span>on purpos<span class=\"_ _0\"></span>es. Defe<span class=\"_ _0\"></span>rred tax i<span class=\"_ _0\"></span>s not provided in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e initial rec<span class=\"_ _0\"></span>ognition of g<span class=\"_ _0\"></span>oodwill and t<span class=\"_ _0\"></span>he initial rec<span class=\"_ _0\"></span>ognition of as<span class=\"_ _0\"></span>sets or liab<span class=\"_ _0\"></span>ilities in a trans<span class=\"_ _0\"></span>action t<span class=\"_ _0\"></span>hat is not a busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbination an<span class=\"_ _0\"></span>d that, at th<span class=\"_ _0\"></span>e time of the trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>, affe<span class=\"_ _0\"></span>cts nei<span class=\"_ _0\"></span>ther acc<span class=\"_ _0\"></span>ounting nor tax<span class=\"_ _0\"></span>able profit. T<span class=\"_ _0\"></span>he amount of deferre<span class=\"_ _0\"></span>d tax provid<span class=\"_ _0\"></span>ed is bas<span class=\"_ _0\"></span>ed on the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d manner of re<span class=\"_ _0\"></span>alisation or s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of the ca<span class=\"_ _0\"></span>rrying a<span class=\"_ _0\"></span>mount of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities, u<span class=\"_ _0\"></span>sing tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span>A deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d only to the ex<span class=\"_ _0\"></span>tent that it is pro<span class=\"_ _0\"></span>bable that f<span class=\"_ _0\"></span>uture tax<span class=\"_ _0\"></span>able profits will b<span class=\"_ _0\"></span>e available ag<span class=\"_ _0\"></span>ainst whi<span class=\"_ _0\"></span>ch the ass<span class=\"_ _0\"></span>et can be utilise<span class=\"_ _0\"></span>d. Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d to the extent t<span class=\"_ _0\"></span>hat it is no lon<span class=\"_ _0\"></span>ger proba<span class=\"_ _0\"></span>ble that the re<span class=\"_ _0\"></span>lated tax b<span class=\"_ _0\"></span>enefit will b<span class=\"_ _0\"></span>e realised<span class=\"_ _0\"></span>. <table class=\"s wa34 h2b2\" id=\"_fb7e87a5-b6ee-4241-ab6e-3fb494ea6c41\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y61e0 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1ce h29 y61e1 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y61e2 w3c h20c\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y61e3 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y61e3 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y61e4 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae4 wa35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax rece<span class=\"_ _0\"></span>ivable<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d24 y5ae4 w100 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1ca ws1e2\">523<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d25 y5ae4 w101 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5e wsb2\">502<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wa36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Current t<span class=\"_ _0\"></span>ax payable<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xb3f y5ae5 wa02 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>21<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d26 y5ae5 wa37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e3 ws1ff\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y61e5 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a15 wfb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d27 y5a15 w33e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">146<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d28 y5a15 wa38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">143<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5a16 wa39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax liab<span class=\"_ _0\"></span>ilities (resta<span class=\"_ _0\"></span>ted)</div><div class=\"t m0 x1d29 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x730 y5a16 w66 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(19<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x33b y5a16 w1ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(32<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _3bd\"> </span><span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><div class=\"t m0 hb ff1 fs6 fc3 sc0 lse wse gsa1e\">Movement in deferred tax liabilities<span class=\"_ _3bd\"> </span></div><div class=\"gsa1f\"><table class=\"s wa3a h2b3\" id=\"_d6c8aa67-241e-467b-bf02-fcaed74001f5\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x972 h29 y61e6 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n </td><td class=\"t m0 x75e h29 y61e6 ff3 fs5 fc3 sc0 lsa ws9\">Recognise<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x3bd h29 y61e7 ff3 fs5 fc3 sc0 ls8d ws86\">consolidated </td><td class=\"t m0 x1705 h29 y61e7 ff3 fs5 fc3 sc0 ls1b9 wsc0\"> in other </td><td></td></tr><tr><td></td><td class=\"t m0 x3a4 h29 y61e8 ff3 fs5 fc3 sc0 lsbe wsbe\">1 January<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 x49b h29 y61e8 ff3 fs5 fc3 sc0 lsbe wsbe\">1 January<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x288 h29 y61e8 ff3 fs5 fc3 sc0 ls1 ws1\">inc<span class=\"_ _0\"></span>ome </td><td class=\"t m0 xcbf h29 y61e8 ff3 fs5 fc3 sc0 ls1f6 ws215\">comprehensive </td><td></td></tr><tr><td></td><td class=\"t m0 x1967 h29 y61e9 ff3 fs5 fc3 sc0 ls1 ws1\">as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></td><td class=\"c x1d2b y61ea wa3b h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">Restate<span class=\"_ _0\"></span>ments</div><div class=\"t m0 x1d2a h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d2d y61ea wa3c h27f\"><div class=\"t m0 x1cf h29 y5ae7 ff3 fs5 fc3 sc0 ls22 ws24\">restate<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1d2c h174 y5d01 ff2 fs17 fc3 sc0 ls1 ws1\">1</div></td><td class=\"t m0 x1d2e h29 y61e9 ff3 fs5 fc3 sc0 ls22 ws24\">statem<span class=\"_ _0\"></span>ent<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2ee h29 y61e9 ff3 fs5 fc3 sc0 ls1b9 ws1cc\">income<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xa30 h29 y61e9 ff3 fs5 fc3 sc0 lsbe wsbe\">31 December<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c h29 y61eb ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e7 h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 h29 y61eb ff3 fs5 fc3 sc0 ls1 ws1\">\u00a3m </td><td class=\"t m0 x2e0 h29 y61eb ff3 fs5 fc3 sc0 ls1f7 ws5c\">\u00a3m<span class=\"_ _0\"></span> </td><td class=\"t m0 x28b h29 y61eb ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y61ec wa3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ading los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d2f y61ec w8b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">355<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d30 y61ec w2d0 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17 ws18\">44<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d31 y61ec w179 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">39<span class=\"_ _0\"></span>9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d32 y61ec w2f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">1<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d33 y61ec we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d34 y61ec w3c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">536<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ed wa3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Capital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d35 y61ed w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d36 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x112f y61ed w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d37 y61ed w9f h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d38 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d39 y61ed w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ee wa3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s and deferre<span class=\"_ _0\"></span>d acquisit<span class=\"_ _0\"></span>ion cost<span class=\"_ _0\"></span>s carrie<span class=\"_ _0\"></span>d forward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3a y61ee w86e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">422<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3b y61ee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3c y61ee w1c1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">42<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3d y61ee w80 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>177<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3e y61ee w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d3f y61ee w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">245<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61ef wa40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Provision<span class=\"_ _0\"></span>s and other temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differe<span class=\"_ _0\"></span>nces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d40 y61ef w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d41 y61ef w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d42 y61ef wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d43 y61ef w4f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d44 y61ef we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d45 y61ef w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61f0 wa41 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>refundable p<span class=\"_ _0\"></span>ension sc<span class=\"_ _0\"></span>heme sur<span class=\"_ _0\"></span>plus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d46 y61f0 w70b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(10<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d47 y61f0 w345 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d48 y61f0 w766 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d49 y61f0 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">66<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4a y61f0 wa42 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4b y61f0 w395 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">(57<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y61f1 w95f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>d future pen<span class=\"_ _0\"></span>sion contrib<span class=\"_ _0\"></span>utions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4c y61f1 w1a8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4d y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4e y61f1 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d4f y61f1 w381 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d50 y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d51 y61f1 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f2 wa43 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ansition<span class=\"_ _0\"></span>al adjus<span class=\"_ _0\"></span>tment relat<span class=\"_ _0\"></span>ing to IFRS 9/17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d52 y61f2 w825 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d53 y61f2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d54 y61f2 wcc h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d55 y61f2 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d56 y61f2 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d57 y61f2 w58 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls76 ws6e\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f3 wa44 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Acceler<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>apital allowances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d58 y61f3 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d59 y61f3 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5a y61f3 wc7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ca ws1e2\">23<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bc y61f3 wb3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5b y61f3 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5c y61f3 w123 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f4 wa45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5d y61f4 wa46 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xfe4 y61f4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5e y61f4 w267 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">31<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d5f y61f4 w704 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls8e ws87\">(3<span class=\"_ _0\"></span>0)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d60 y61f4 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d61 y61f4 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61f5 wce h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Acquire<span class=\"_ _0\"></span>d in-force busin<span class=\"_ _0\"></span>ess<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d62 y61f5 w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d63 y61f5 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d64 y61f5 w17d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d65 y61f5 wa2e h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d66 y61f5 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d67 y61f5 wa47 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c6 ws1de\">(31<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5d08 wa48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Cus<span class=\"_ _0\"></span>tomer relati<span class=\"_ _0\"></span>onships<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131f y5d08 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7c y5d08 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d68 y5d08 w18a h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d69 y5d08 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6a y5d08 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6b y5d08 wa49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c49 wa4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unrea<span class=\"_ _0\"></span>lised ga<span class=\"_ _0\"></span>ins<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6c y5c49 w6d5 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6d y5c49 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6e y5c49 w66d h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(361)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d6f y5c49 wa4b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">(51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d70 y5c49 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d71 y5c49 w4d8 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ea ws208\">(<span class=\"_ _0\"></span>41<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c15 wa4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en loca<span class=\"_ _0\"></span>l G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP and IFR<span class=\"_ _0\"></span>S<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1497 y5c15 w70b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d72 y5c15 w49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>124)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d73 y5c15 w49 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>242)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d74 y5c15 w2c7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d75 y5c15 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d76 y5c15 w503 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d4 ws1ed\">(69)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c4b w34c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d77 y5c4b w178 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14a5 y5c4b w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d78 y5c4b w4c6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d79 y5c4b w4d3 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1cb ws1e3\">(1<span class=\"_ _0\"></span>2)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7a y5c4b we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7b y5c4b w197 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x934 y5a16 w66d h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(114)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7c y5a16 w4e6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(6<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7d y5a16 w80 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>177<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7e y5a16 wea h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls4 ws4\">157<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d7f y5a16 w1d4 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(32)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d80 y5a16 w2d6 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1ca ws1e2\">(52)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsa20\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r detai<span class=\"_ _0\"></span>ls of the p<span class=\"_ _0\"></span>rior yea<span class=\"_ _0\"></span>r rest<span class=\"_ _0\"></span>atem<span class=\"_ _0\"></span>ents<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"gsa21\"><table class=\"s wa4d h2b4\" id=\"_3680de8e-9cc2-439e-ae38-60596358d4a4\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x499 ha y61f6 ff2 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>cogn<span class=\"_ _0\"></span>ised i<span class=\"_ _0\"></span>n </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x1251 ha y61f7 ff2 fs5 fc3 sc0 ls11 ws11\">consolidated </td><td class=\"t m13f x2e5 ha y61f7 ff2 fs5 fc3 sc0 ls9c ws97\">Recognis<span class=\"_ _0\"></span>ed <span class=\"_ _2\"></span><span class=\"ls1 ws1\"> </span></td><td class=\"t m0 xa12 ha y61f7 ff2 fs5 fc3 sc0 ls1 ws1\">Pho<span class=\"_ _0\"></span>enix L<span class=\"_ _0\"></span>ife </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x2e4 ha y61f8 ff2 fs5 fc3 sc0 ls10c ws10d\">income<span class=\"_ _2\"></span> </td><td class=\"t m13f x490 ha y61f8 ff2 fs5 fc3 sc0 ls142 wsbf\">in o<span class=\"_ _2\"></span>ther </td><td class=\"t m0 x908 ha y61f8 ff2 fs5 fc3 sc0 ls1 ws1\">CA Ho<span class=\"_ _0\"></span>lding<span class=\"_ _0\"></span>s </td><td></td><td class=\"t m0 x492 ha y61f8 ff2 fs5 fc3 sc0 ls1 ws1\">Les<span class=\"_ _0\"></span>s amo<span class=\"_ _0\"></span>unts </td><td></td></tr><tr><td></td><td class=\"t m0 x1d81 ha y61f9 ff2 fs5 fc3 sc0 ls11 ws11\">1 January<span class=\"_ _3bd\"> </span></td><td></td><td class=\"t m0 xdff ha y61f9 ff2 fs5 fc3 sc0 ls11 ws11\">1 January<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3a4 ha y61f9 ff2 fs5 fc3 sc0 ls4d wsbf\">statement<span class=\"_ _2\"></span> </td><td class=\"t m13f x2eb ha y61f9 ff2 fs5 fc3 sc0 ls142 ws14e\">comprehensiv<span class=\"_ _2\"></span>e </td><td class=\"t m0 x1d82 ha y61f9 ff2 fs5 fc3 sc0 ls1 ws1\">Limi<span class=\"_ _0\"></span>ted </td><td class=\"t m0 x187c ha y61f9 ff2 fs5 fc3 sc0 ls4d wsbf\">Other </td><td class=\"t m0 x1d83 ha y61f9 ff2 fs5 fc3 sc0 ls1 ws1\">cla<span class=\"_ _0\"></span>ssifi<span class=\"_ _0\"></span>ed as </td><td></td></tr><tr><td></td><td class=\"t m0 x2f9 ha y61fa ff2 fs5 fc3 sc0 ls1 ws1\">as re<span class=\"_ _0\"></span>por<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></td><td class=\"c x92b y61fb wa4e h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls4d wsbf\">Restatements</div><div class=\"t m0 x1d84 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d86 y61fb wa4f h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d85 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1d88 y61fb wa50 h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d87 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"t m13f x490 ha y61fa ff2 fs5 fc3 sc0 lsa4 ws9f\">income<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3bc ha y61fa ff2 fs5 fc3 sc0 ls22 ws24\">acquisition<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x913 ha y61fa ff2 fs5 fc3 sc0 ls4d wsbf\">movements<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xe3c ha y61fa ff2 fs5 fc3 sc0 ls11 ws11\">held for sale<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d89 ha y61fa ff2 fs5 fc3 sc0 lsa6 wsa1\">31 December<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x28c ha y61fc ff2 fs5 fc3 sc0 ls11 ws11\">2023 (restated)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e8 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2db ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3b9 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x603 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x921 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x491 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x9e8 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2e0 ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x28b ha y61fc ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y61fd wa3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ading los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8a y61fd w862 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">196<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8b y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8c y61fd w59a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8d y61fd w8f6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8e y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d8f y61fd wf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d90 y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d91 y61fd wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d92 y61fd w103 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">399<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y61fe wa3e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">Capital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d93 y61fe w4f1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d94 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d95 y61fe w7b0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ab0 y61fe w87a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(<span class=\"_ _0\"></span>22)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d96 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d97 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b3 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b4 y61fe wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x14b5 y61fe w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y61ff ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>xpense<span class=\"_ _0\"></span>s and deferre<span class=\"_ _0\"></span>d acquisit<span class=\"_ _0\"></span>ion </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6200 wa51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">cost<span class=\"_ _0\"></span>s carried forward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d98 y6200 w85a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">397<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d99 y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9a y6200 w16f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e4 ws200\">397<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9b y6200 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9c y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9d y6200 w1f8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9e y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d9f y6200 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da0 y6200 w2c7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6201 wa52 h204\"><div class=\"t m0 x1cf hc y5a89 ff2 fs6 fc3 sc0 ls1 ws1\">Provision<span class=\"_ _0\"></span>s and other<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">temporary di<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>erences<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da1 y6201 w19f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da2 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da3 y6201 w197 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">32<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da4 y6201 wa53 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(<span class=\"_ _0\"></span>28)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x11ee y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x131c y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da5 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da6 y6201 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a7b y6201 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6202 ff2 fs6 fc3 sc0 ls1 ws1\">Non-<span class=\"_ _0\"></span>refundable p<span class=\"_ _0\"></span>ension </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6203 wa54 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">scheme surp<span class=\"_ _2\"></span>lus<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da7 y6203 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(1<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da8 y6203 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da9 y6203 wa55 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>142<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd78 y6203 w763 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1daa y6203 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dab y6203 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x15bc y6203 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x10cc y6203 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x16ac y6203 wa56 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d9 ws1f3\">(91<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6204 ff2 fs6 fc3 sc0 ls1 ws1\">Com<span class=\"_ _0\"></span>mitte<span class=\"_ _0\"></span>d future pen<span class=\"_ _0\"></span>sion </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6205 wa57 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">contributions<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dac y6205 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dad y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dae y6205 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1daf y6205 wa58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db0 y6205 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db1 y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd7f y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db2 y6205 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xdf7 y6205 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y6206 ff2 fs6 fc3 sc0 ls13 ws14\">T<span class=\"_ _4\"></span>ransitional a<span class=\"_ _0\"></span>djustment </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6207 wa59 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">relatin<span class=\"_ _0\"></span>g to IFRS 9/17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db3 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db4 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db5 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db6 y6207 w20d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">(1<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db7 y6207 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6a3 y6207 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db8 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1db9 y6207 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dba y6207 wcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6208 wa44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">Acceler<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>apital allowances<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbb y6208 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1da2 y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbc y6208 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbd y6208 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbe y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dbf y6208 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x12b4 y6208 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc0 y6208 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc1 y6208 wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6209 wa45 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc2 y6209 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc3 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc4 y6209 w20e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc5 y6209 wa5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc6 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc7 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc8 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dc9 y6209 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1abc y6209 wa5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cd ws1e6\">31<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y620a wce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Acquire<span class=\"_ _0\"></span>d in-force busin<span class=\"_ _0\"></span>ess<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dca y620a wa5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcb y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcc y620a wa5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls2c ws179\">(4<span class=\"_ _0\"></span>05)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcd y620a w89c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e0 ws1fb\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dce y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dcf y620a w62e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(<span class=\"_ _0\"></span>4)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd0 y620a wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd1 y620a w38c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1205 y620a w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5dc7 wa48 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cus<span class=\"_ _0\"></span>tomer relati<span class=\"_ _0\"></span>onships<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd2 y5dc7 w28f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd3 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd4 y5dc7 wa53 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d2 ws1eb\">(28<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd5 y5dc7 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd6 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xde8 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x106b y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd7 y5dc7 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd8 y5dc7 w991 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">(<span class=\"_ _0\"></span>27<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b12 wa4a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Unrea<span class=\"_ _0\"></span>lised ga<span class=\"_ _0\"></span>ins<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dd9 y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(261<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dda y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddb y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>261)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddc y5b12 w314 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">(<span class=\"_ _0\"></span>77)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddd y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dde y5b12 w3be h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(23)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ddf y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de0 y5b12 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de1 y5b12 w1dc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">(<span class=\"_ _0\"></span>361)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x2a6 hc y620b ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b24 wa5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">bet<span class=\"_ _0\"></span>ween lo<span class=\"_ _0\"></span>cal GAAP a<span class=\"_ _0\"></span>nd IFRS<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de2 y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de3 y5b24 w9e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de4 y5b24 w9bf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de5 y5b24 wa5e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de6 y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de7 y5b24 w392 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">(<span class=\"_ _0\"></span>16)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de8 y5b24 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1de9 y5b24 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dea y5b24 wa5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">(<span class=\"_ _0\"></span>242<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 w34c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1deb y5b25 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dec y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ded y5b25 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dee y5b25 w1a8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1def y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x190d y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df0 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df1 y5b25 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5b0 y5b25 w4c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">11<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x196d y5a16 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>151<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df2 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df3 y5a16 w735 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">(<span class=\"_ _0\"></span>151<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df4 y5a16 w5ff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bd ws1d0\">(56)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df5 y5a16 w2a9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df6 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df7 y5a16 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df8 y5a16 wa5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1df9 y5a16 wa60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bb ws1ce\">(<span class=\"_ _0\"></span>177<span class=\"_ _1\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsa22\">1  <span class=\"_ _1a\"> </span>S<span class=\"_ _0\"></span>ee no<span class=\"_ _0\"></span>te A3 for de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa23\">The s<span class=\"_ _0\"></span>tandard r<span class=\"_ _0\"></span>ate of UK corp<span class=\"_ _0\"></span>oration ta<span class=\"_ _0\"></span>x for the year en<span class=\"_ _0\"></span>ded 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4 is 2<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>% (20<span class=\"_ _0\"></span>23: 23.<span class=\"_ _0\"></span>5%)<span class=\"_ _2\"></span>. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa24\">Sha<span class=\"_ _0\"></span>reholde<span class=\"_ _0\"></span>r deferred ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s and liabiliti<span class=\"_ _0\"></span>es, wh<span class=\"_ _0\"></span>ere provided<span class=\"_ _0\"></span>, are reflec<span class=\"_ _0\"></span>ted at 25%<span class=\"_ _0\"></span>. Deferred in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s are reco<span class=\"_ _0\"></span>gnised fo<span class=\"_ _0\"></span>r tax los<span class=\"_ _0\"></span>ses </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa25\">car<span class=\"_ _0\"></span>ried for<span class=\"_ _0\"></span>ward only to the ex<span class=\"_ _0\"></span>tent that re<span class=\"_ _0\"></span>alisation of the re<span class=\"_ _0\"></span>lated ta<span class=\"_ _0\"></span>x benefit is p<span class=\"_ _0\"></span>robable.<span class=\"_ _3bd\"> </span></div>The defe<span class=\"_ _0\"></span>rred tax a<span class=\"_ _0\"></span>sset rel<span class=\"_ _0\"></span>ating to tradin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s has incre<span class=\"_ _0\"></span>ased in 2024 from \u00a33<span class=\"_ _0\"></span>99 milli<span class=\"_ _0\"></span>on to \u00a3536 m<span class=\"_ _0\"></span>illion, as sh<span class=\"_ _0\"></span>own in the table a<span class=\"_ _0\"></span>bove (2023: incre<span class=\"_ _0\"></span>ase from \u00a31<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>6 million to \u00a339<span class=\"_ _0\"></span>9 million). This ha<span class=\"_ _0\"></span>s arisen pr<span class=\"_ _0\"></span>incipally due to n<span class=\"_ _0\"></span>et taxab<span class=\"_ _0\"></span>le losse<span class=\"_ _0\"></span>s arising within t<span class=\"_ _0\"></span>he cons<span class=\"_ _0\"></span>tituent entit<span class=\"_ _0\"></span>ies of the Group. The Gro<span class=\"_ _0\"></span>up utilises p<span class=\"_ _0\"></span>ro<span class=\"_ _2\"></span>fi<span class=\"_ _0\"></span>t f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>recas<span class=\"_ _0\"></span>ts to supp<span class=\"_ _0\"></span>ort rec<span class=\"_ _0\"></span>ognition of a defe<span class=\"_ _0\"></span>rred tax a<span class=\"_ _0\"></span>sset in rel<span class=\"_ _0\"></span>ation to the los<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>. The profit forec<span class=\"_ _0\"></span>ast<span class=\"_ _0\"></span>s are prepare<span class=\"_ _0\"></span>d for the Annua<span class=\"_ _0\"></span>l Opera<span class=\"_ _0\"></span>ting Plan which is u<span class=\"_ _0\"></span>sed for vario<span class=\"_ _0\"></span>us purpos<span class=\"_ _0\"></span>es includin<span class=\"_ _0\"></span>g target s<span class=\"_ _0\"></span>ettin<span class=\"_ _0\"></span>g, divide<span class=\"_ _0\"></span>nd afforda<span class=\"_ _0\"></span>bility as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sments a<span class=\"_ _0\"></span>nd going c<span class=\"_ _0\"></span>oncern<span class=\"_ _0\"></span>. The<span class=\"_ gs47\"> </span>Gro<span class=\"_ _0\"></span>up consid<span class=\"_ _0\"></span>ers the fore<span class=\"_ _0\"></span>cast<span class=\"_ _0\"></span>s to be a reliabl<span class=\"_ _0\"></span>e source of informati<span class=\"_ _0\"></span>on to suppor<span class=\"_ _0\"></span>t the rec<span class=\"_ _0\"></span>ognition of a defer<span class=\"_ _0\"></span>red tax a<span class=\"_ _0\"></span>sset in rela<span class=\"_ _0\"></span>tion to the los<span class=\"_ _0\"></span>ses. The fore<span class=\"_ _0\"></span>cas<span class=\"_ _0\"></span>ts sugg<span class=\"_ _0\"></span>est th<span class=\"_ _0\"></span>at the loss<span class=\"_ _0\"></span>es will be utilis<span class=\"_ _0\"></span>ed in full within 8 ye<span class=\"_ _0\"></span>ars.<span class=\"_ _3bd\"> </span><table class=\"s w85f h2b5\" id=\"_8464c4fc-f065-4ac5-a419-58259deab2b5\"><tr><td></td><td></td><td class=\"t m0 x1cd ha y620c ff2 fs5 fc3 sc0 ls1 ws1\">202<span class=\"_ _0\"></span>3 </td></tr><tr><td></td><td class=\"t m0 x1ce h29 y620d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y620e w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y59ef ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y620f ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6210 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y6211 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e n<span class=\"_ _0\"></span>ot been re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in resp<span class=\"_ _0\"></span>ect of:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6212 wa61 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>ax los<span class=\"_ _0\"></span>ses c<span class=\"_ _0\"></span>arried for<span class=\"_ _0\"></span>ward<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x19c3 y6212 w4d4 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls17f ws192\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfa y6212 w5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsc6 ws15a\">99<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6213 wa62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">E<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ess exp<span class=\"_ _0\"></span>enses a<span class=\"_ _0\"></span>nd deferred a<span class=\"_ _0\"></span>cquisition c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfb y6213 we9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfc y6213 w1b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6214 wa63 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Act<span class=\"_ _0\"></span>uarial liabilit<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en loca<span class=\"_ _0\"></span>l G<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>AP and IFR<span class=\"_ _0\"></span>S 17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfd y6214 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dfe y6214 w20e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">14<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wa45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">Intangibles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70c y5a15 w5b h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x70d y5a15 w1b9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa64 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets n<span class=\"_ _0\"></span>ot recog<span class=\"_ _0\"></span>nised on c<span class=\"_ _0\"></span>apital los<span class=\"_ _0\"></span>ses<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1d24 y5a16 wfd h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">116<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1dff y5a16 w12c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15c ws1ee\">119<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>The a<span class=\"_ _0\"></span>djus<span class=\"_ _0\"></span>tmen<span class=\"_ _0\"></span>t to the 20<span class=\"_ _0\"></span>23 defer<span class=\"_ _0\"></span>red ta<span class=\"_ _0\"></span>x ass<span class=\"_ _0\"></span>ets n<span class=\"_ _0\"></span>ot reco<span class=\"_ _0\"></span>gnis<span class=\"_ _0\"></span>ed rel<span class=\"_ _0\"></span>ates pr<span class=\"_ _0\"></span>incip<span class=\"_ _0\"></span>ally to Ph<span class=\"_ _0\"></span>oeni<span class=\"_ _0\"></span>x Life CA Lim<span class=\"_ _0\"></span>ited<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s (fo<span class=\"_ _0\"></span>rmer<span class=\"_ _0\"></span>ly know<span class=\"_ _0\"></span>n as Sun Li<span class=\"_ _0\"></span>fe Ass<span class=\"_ _0\"></span>uranc<span class=\"_ _0\"></span>e Com<span class=\"_ _0\"></span>pany of Ca<span class=\"_ _0\"></span>nada (<span class=\"_ _0\"></span>U.K<span class=\"_ _0\"></span>.) Limi<span class=\"_ _0\"></span>ted) t<span class=\"_ _0\"></span>ax los<span class=\"_ _0\"></span>ses foll<span class=\"_ _0\"></span>owing a<span class=\"_ _0\"></span>cqui<span class=\"_ _0\"></span>sition o<span class=\"_ _0\"></span>f the com<span class=\"_ _0\"></span>pany in 2<span class=\"_ _0\"></span>023. T<span class=\"_ _0\"></span>he ad<span class=\"_ _0\"></span>just<span class=\"_ _0\"></span>ment n<span class=\"_ _0\"></span>ow incl<span class=\"_ _0\"></span>udes th<span class=\"_ _0\"></span>ese t<span class=\"_ _0\"></span>ax los<span class=\"_ _0\"></span>ses at t<span class=\"_ _0\"></span>heir t<span class=\"_ _0\"></span>ax valu<span class=\"_ _0\"></span>e rath<span class=\"_ _0\"></span>er than t<span class=\"_ _0\"></span>he gro<span class=\"_ _0\"></span>ss amo<span class=\"_ _0\"></span>unt, a<span class=\"_ _0\"></span>lignin<span class=\"_ _0\"></span>g with th<span class=\"_ _0\"></span>e Grou<span class=\"_ _0\"></span>p\u2019<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>ferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set<span class=\"_ _0\"></span>s not r<span class=\"_ _0\"></span>ecog<span class=\"_ _0\"></span>nise<span class=\"_ _0\"></span>d. At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023, th<span class=\"_ _0\"></span>e Group also h<span class=\"_ _0\"></span>ad \u00a312 millio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f g<span class=\"_ _0\"></span>ross BL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>GAB (life bus<span class=\"_ _0\"></span>iness) tra<span class=\"_ _0\"></span>ding loss<span class=\"_ _0\"></span>es that were pro<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d to be utilise<span class=\"_ _0\"></span>d, however no<span class=\"_ gs47\"> </span>valu<span class=\"_ _0\"></span>e was attr<span class=\"_ _0\"></span>ibuted to the<span class=\"_ _0\"></span>se deferred t<span class=\"_ _0\"></span>ax ass<span class=\"_ _0\"></span>ets given th<span class=\"_ _0\"></span>e interacti<span class=\"_ _0\"></span>on with other de<span class=\"_ _0\"></span>ductibl<span class=\"_ _0\"></span>e t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>mporar<span class=\"_ _0\"></span>y diffe<span class=\"_ _0\"></span>rences<span class=\"_ _0\"></span>. At 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4, the<span class=\"_ gs47\"> </span>qua<span class=\"_ _0\"></span>ntum of BLAGAB tradin<span class=\"_ _0\"></span>g losse<span class=\"_ _0\"></span>s that no value h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n attribu<span class=\"_ _0\"></span>ted to is \u00a3nil.<span class=\"_ _3bd\"> </span>There i<span class=\"_ _0\"></span>s a technic<span class=\"_ _0\"></span>al matte<span class=\"_ _0\"></span>r which is curre<span class=\"_ _0\"></span>ntly being dis<span class=\"_ _0\"></span>cuss<span class=\"_ _0\"></span>ed with HM<span class=\"_ _0\"></span>RC in relatio<span class=\"_ _0\"></span>n t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e L&amp;G insur<span class=\"_ _0\"></span>ance bu<span class=\"_ _0\"></span>siness tr<span class=\"_ _0\"></span>ansfer to ReA<span class=\"_ _0\"></span>ssure Limite<span class=\"_ _0\"></span>d. The<span class=\"_ _0\"></span>se discus<span class=\"_ _0\"></span>sions are n<span class=\"_ _0\"></span>ot sufficie<span class=\"_ _0\"></span>ntly progre<span class=\"_ _0\"></span>ssed a<span class=\"_ _0\"></span>t this sta<span class=\"_ _0\"></span>ge for reco<span class=\"_ _0\"></span>gnition of any potenti<span class=\"_ _0\"></span>al tax be<span class=\"_ _0\"></span>nefit arising<span class=\"_ _0\"></span>. The Gro<span class=\"_ _0\"></span>up in conj<span class=\"_ _0\"></span>unction with a n<span class=\"_ _0\"></span>umber of other c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s has challe<span class=\"_ _0\"></span>nged H<span class=\"_ _0\"></span>MRC<span class=\"_ _0\"></span>\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>osition on th<span class=\"_ _0\"></span>e corporat<span class=\"_ _0\"></span>ion tax tre<span class=\"_ _0\"></span>atment of overse<span class=\"_ _0\"></span>as por<span class=\"_ _0\"></span>tfolio di<span class=\"_ _0\"></span>vidends from c<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s resident in th<span class=\"_ _0\"></span>e E<span class=\"_ _2\"></span>U (<span class=\"_ _0\"></span>\u2018EU divid<span class=\"_ _0\"></span>ends\u2019) u<span class=\"_ _0\"></span>sing a Group Litig<span class=\"_ _0\"></span>ation Orde<span class=\"_ _0\"></span>r (\u2018GLO\u2019). The is<span class=\"_ _0\"></span>sue relate<span class=\"_ _0\"></span>s to whether th<span class=\"_ _0\"></span>e UK tax r<span class=\"_ _0\"></span>ules, w<span class=\"_ _0\"></span>hich taxe<span class=\"_ _0\"></span>d EU dividends re<span class=\"_ _0\"></span>ceived p<span class=\"_ _0\"></span>rior to 1 July 20<span class=\"_ _0\"></span>09, wa<span class=\"_ _0\"></span>s contrar<span class=\"_ _0\"></span>y to EU law given th<span class=\"_ _0\"></span>at dividend<span class=\"_ _0\"></span>s receive<span class=\"_ _0\"></span>d from UK comp<span class=\"_ _0\"></span>anies were exempt from t<span class=\"_ _0\"></span>ax. In 2<span class=\"_ _0\"></span>00<span class=\"_ _0\"></span>9 UK tax law w<span class=\"_ _0\"></span>as chang<span class=\"_ _0\"></span>ed with bot<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>ver<span class=\"_ _0\"></span>seas a<span class=\"_ _0\"></span>nd UK divide<span class=\"_ _0\"></span>nds bein<span class=\"_ _0\"></span>g treated as exem<span class=\"_ _0\"></span>pt from corpor<span class=\"_ _0\"></span>ation tax<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>In July 2<span class=\"_ _0\"></span>018<span class=\"_ _0\"></span>, the Supre<span class=\"_ _0\"></span>me Cour<span class=\"_ _0\"></span>t conc<span class=\"_ _0\"></span>luded in favour of th<span class=\"_ _0\"></span>e tax payer an<span class=\"_ _0\"></span>d a tax be<span class=\"_ _0\"></span>nefit of \u00a313 million w<span class=\"_ _0\"></span>as reco<span class=\"_ _0\"></span>gnised at th<span class=\"_ _0\"></span>e end of 201<span class=\"_ _0\"></span>8 in relation to enha<span class=\"_ _0\"></span>nced do<span class=\"_ _0\"></span>uble tax re<span class=\"_ _0\"></span>lief claims whic<span class=\"_ _0\"></span>h the Group is enti<span class=\"_ _0\"></span>tled to in acc<span class=\"_ _0\"></span>ordance w<span class=\"_ _0\"></span>ith the Cour<span class=\"_ _0\"></span>t judg<span class=\"_ _0\"></span>ement<span class=\"_ _0\"></span>. As a result of the in<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e busines<span class=\"_ _0\"></span>s tran<span class=\"_ _0\"></span>sfer from Leg<span class=\"_ _0\"></span>al and Gen<span class=\"_ _0\"></span>eral As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Societ<span class=\"_ _0\"></span>y during 2<span class=\"_ _0\"></span>020, the ta<span class=\"_ _0\"></span>x refund for the b<span class=\"_ _0\"></span>enefit of the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s with-<span class=\"_ _0\"></span>profits and unit lin<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ed f<span class=\"_ _0\"></span>unds incre<span class=\"_ _0\"></span>ased to \u00a345 million a<span class=\"_ _0\"></span>nd \u00a323 million re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tively<span class=\"_ _2\"></span>. D<span class=\"_ _0\"></span>uring 2024 tax refun<span class=\"_ _0\"></span>ds totaling \u00a3<span class=\"_ _0\"></span>11 million were rec<span class=\"_ _0\"></span>eived and th<span class=\"_ _0\"></span>e value of the rema<span class=\"_ _0\"></span>ining tax recl<span class=\"_ _0\"></span>aims were revise<span class=\"_ _0\"></span>d downwards by a fur<span class=\"_ _0\"></span>ther \u00a3<span class=\"_ _0\"></span>11m. At 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2024, the ta<span class=\"_ _0\"></span>x refunds for Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s with-<span class=\"_ _0\"></span>profits fund<span class=\"_ _0\"></span>s and unit linked fun<span class=\"_ _0\"></span>ds are \u00a33<span class=\"_ _0\"></span>6 million and \u00a3<span class=\"_ _0\"></span>10 million res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly<span class=\"_ _2\"></span>. In th<span class=\"_ _0\"></span>e case of the w<span class=\"_ _0\"></span>ith-profits f<span class=\"_ _0\"></span>unds there wa<span class=\"_ _0\"></span>s an increas<span class=\"_ _0\"></span>e in unalloc<span class=\"_ _0\"></span>ated surplu<span class=\"_ _0\"></span>s and for the unit linked fund<span class=\"_ _0\"></span>s there was a co<span class=\"_ _0\"></span>rrespon<span class=\"_ _0\"></span>ding increa<span class=\"_ _0\"></span>se in investme<span class=\"_ _0\"></span>nt contrac<span class=\"_ _0\"></span>t liabilities a<span class=\"_ _0\"></span>s a result of the rec<span class=\"_ _0\"></span>ognition of th<span class=\"_ _0\"></span>e tax as<span class=\"_ _0\"></span>set. Set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent of this issu<span class=\"_ _0\"></span>e is subje<span class=\"_ _0\"></span>ct to ongoin<span class=\"_ _0\"></span>g litigation w<span class=\"_ _0\"></span>ith most re<span class=\"_ _0\"></span>cently, the Co<span class=\"_ _0\"></span>urt of Appe<span class=\"_ _0\"></span>al ruling in favour of H<span class=\"_ _0\"></span>MRC in Febr<span class=\"_ _0\"></span>uary 2<span class=\"_ _0\"></span>025. Con<span class=\"_ _0\"></span>sideratio<span class=\"_ _0\"></span>n is being give<span class=\"_ _0\"></span>n as to whether t<span class=\"_ _0\"></span>his ruling will be a<span class=\"_ _0\"></span>ppeale<span class=\"_ _0\"></span>d at the Supre<span class=\"_ _0\"></span>me Cour<span class=\"_ _0\"></span>t. The Gro<span class=\"_ _0\"></span>up is continuin<span class=\"_ _0\"></span>g to monitor develo<span class=\"_ _0\"></span>pments in re<span class=\"_ _0\"></span>lation to the G20<span class=\"_ _0\"></span>-O<span class=\"_ _0\"></span>ECD Inclu<span class=\"_ _0\"></span>sive F<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>amework \u201c<span class=\"_ _0\"></span>Pillar T<span class=\"_ _4\"></span>wo\u201d rul<span class=\"_ _0\"></span>es, as th<span class=\"_ _0\"></span>e Group is within s<span class=\"_ _0\"></span>cope of the rule<span class=\"_ _0\"></span>s from 1 Janua<span class=\"_ _0\"></span>ry 2024. Bro<span class=\"_ _0\"></span>adly<span class=\"_ _2\"></span>, th<span class=\"_ _0\"></span>ese rule<span class=\"_ _0\"></span>s seek to en<span class=\"_ _0\"></span>sure that, o<span class=\"_ _0\"></span>n a jurisdic<span class=\"_ _0\"></span>tion-by-juri<span class=\"_ _0\"></span>sdiction b<span class=\"_ _0\"></span>asis, l<span class=\"_ _0\"></span>arge multina<span class=\"_ _0\"></span>tional enterp<span class=\"_ _0\"></span>rises pay a<span class=\"_ gs47\"> </span>minimum t<span class=\"_ _0\"></span>ax rate of 15% on worl<span class=\"_ _0\"></span>dwide profit<span class=\"_ _0\"></span>s arising af<span class=\"_ _0\"></span>ter 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>023. In May 2<span class=\"_ _0\"></span>023, the s<span class=\"_ _0\"></span>cope of IAS 12 h<span class=\"_ _0\"></span>as bee<span class=\"_ _0\"></span>n amende<span class=\"_ _0\"></span>d to clarif<span class=\"_ _0\"></span>y that the s<span class=\"_ _0\"></span>tandard a<span class=\"_ _0\"></span>pplies to inco<span class=\"_ _0\"></span>me taxes a<span class=\"_ _0\"></span>rising from ta<span class=\"_ _0\"></span>x law enac<span class=\"_ _0\"></span>ted or subs<span class=\"_ _0\"></span>tantively e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d t<span class=\"_ _2\"></span>o im<span class=\"_ _0\"></span>plement th<span class=\"_ _0\"></span>e Pillar T<span class=\"_ _4\"></span>wo m<span class=\"_ _0\"></span>odel rule<span class=\"_ _0\"></span>s publishe<span class=\"_ _0\"></span>d by the OECD, inc<span class=\"_ _0\"></span>luding ta<span class=\"_ _0\"></span>x law that imple<span class=\"_ _0\"></span>ments qu<span class=\"_ _0\"></span>alified dom<span class=\"_ _0\"></span>estic minimum top<span class=\"_ _0\"></span>-up taxe<span class=\"_ _0\"></span>s describ<span class=\"_ _0\"></span>ed in those r<span class=\"_ _0\"></span>ules. T<span class=\"_ _0\"></span>he amendm<span class=\"_ _0\"></span>ents introd<span class=\"_ _0\"></span>uce a tempo<span class=\"_ _0\"></span>rary exc<span class=\"_ _0\"></span>eption to the ac<span class=\"_ _0\"></span>counting re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s for deferred taxe<span class=\"_ _0\"></span>s in IAS 12, so th<span class=\"_ _0\"></span>at an entit<span class=\"_ _0\"></span>y would neith<span class=\"_ _0\"></span>er reco<span class=\"_ _0\"></span>gnise nor di<span class=\"_ _0\"></span>sclose inform<span class=\"_ _0\"></span>ation abou<span class=\"_ _0\"></span>t deferred ta<span class=\"_ _0\"></span>x asset<span class=\"_ _0\"></span>s and liabilit<span class=\"_ _0\"></span>ies related to Pilla<span class=\"_ _0\"></span>r T<span class=\"_ _4\"></span>wo inco<span class=\"_ _0\"></span>me taxes<span class=\"_ _0\"></span>. The Group c<span class=\"_ _0\"></span>onfirms that i<span class=\"_ _0\"></span>t has applie<span class=\"_ _0\"></span>d this exception d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod.<span class=\"_ _3bd\"> </span>The m<span class=\"_ _0\"></span>ain jurisdic<span class=\"_ _0\"></span>tions in which th<span class=\"_ _0\"></span>e Group may have exp<span class=\"_ _0\"></span>osures to Pillar T<span class=\"_ _2\"></span>wo inc<span class=\"_ _0\"></span>ome taxe<span class=\"_ _0\"></span>s are Ireland a<span class=\"_ _0\"></span>nd the UK<span class=\"_ _0\"></span>. As at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as accr<span class=\"_ _0\"></span>ued \u00a3nil in resp<span class=\"_ _0\"></span>ect of Pillar T<span class=\"_ _2\"></span>wo inc<span class=\"_ _0\"></span>ome taxes b<span class=\"_ _0\"></span>ased on i<span class=\"_ _0\"></span>ts lates<span class=\"_ _0\"></span>t asses<span class=\"_ _0\"></span>sment<span class=\"_ _0\"></span>. The Group al<span class=\"_ _0\"></span>so notes that t<span class=\"_ _0\"></span>he Pillar T<span class=\"_ _4\"></span>wo in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes leg<span class=\"_ _0\"></span>islation is exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to continue devel<span class=\"_ _0\"></span>oping, th<span class=\"_ _0\"></span>e rules are inh<span class=\"_ _0\"></span>erently com<span class=\"_ _0\"></span>plex and c<span class=\"_ _0\"></span>an potentially le<span class=\"_ _0\"></span>ad to arbitra<span class=\"_ _0\"></span>ry outc<span class=\"_ _0\"></span>omes an<span class=\"_ _0\"></span>d therefore, the Group is c<span class=\"_ _0\"></span>ontinuing to as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>s the impac<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Pillar T<span class=\"_ _4\"></span>wo in<span class=\"_ _0\"></span>come ta<span class=\"_ _0\"></span>xes legis<span class=\"_ _0\"></span>lation on its o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s. The Gro<span class=\"_ _0\"></span>up also notes t<span class=\"_ _0\"></span>he enac<span class=\"_ _0\"></span>tment of leg<span class=\"_ _0\"></span>islation in Be<span class=\"_ _0\"></span>rmuda in De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 2023 which intro<span class=\"_ _0\"></span>duced a C<span class=\"_ _0\"></span>orporate I<span class=\"_ _0\"></span>ncome T<span class=\"_ _2\"></span>ax w<span class=\"_ _0\"></span>ith a headlin<span class=\"_ _0\"></span>e rate of<span class=\"_ gs47\"> </span>15% ef<span class=\"_ _0\"></span>fective from 1 J<span class=\"_ _0\"></span>anuar<span class=\"_ _0\"></span>y 2025. T<span class=\"_ _0\"></span>his legis<span class=\"_ _0\"></span>lation applie<span class=\"_ _0\"></span>s to the Group\u2019s local B<span class=\"_ _0\"></span>ermudian o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s. Given th<span class=\"_ _0\"></span>e current size of local o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s, the Gro<span class=\"_ _0\"></span>up does not ex<span class=\"_ _0\"></span>pect th<span class=\"_ _0\"></span>e immediate im<span class=\"_ _0\"></span>pact to be m<span class=\"_ _0\"></span>aterial.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-698": {
   "value": "Deferre<span class=\"_ _0\"></span>d tax is provi<span class=\"_ _0\"></span>ded for on temp<span class=\"_ _0\"></span>orar<span class=\"_ _0\"></span>y differen<span class=\"_ _0\"></span>ces bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e carr<span class=\"_ _0\"></span>ying amo<span class=\"_ _0\"></span>unts of ass<span class=\"_ _0\"></span>ets and liab<span class=\"_ _0\"></span>ilities for finan<span class=\"_ _0\"></span>cial repor<span class=\"_ _0\"></span>ting pur<span class=\"_ _0\"></span>poses an<span class=\"_ _0\"></span>d the am<span class=\"_ _0\"></span>ounts use<span class=\"_ _0\"></span>d for taxati<span class=\"_ _0\"></span>on purpos<span class=\"_ _0\"></span>es. Defe<span class=\"_ _0\"></span>rred tax i<span class=\"_ _0\"></span>s not provided in re<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e initial rec<span class=\"_ _0\"></span>ognition of g<span class=\"_ _0\"></span>oodwill and t<span class=\"_ _0\"></span>he initial rec<span class=\"_ _0\"></span>ognition of as<span class=\"_ _0\"></span>sets or liab<span class=\"_ _0\"></span>ilities in a trans<span class=\"_ _0\"></span>action t<span class=\"_ _0\"></span>hat is not a busin<span class=\"_ _0\"></span>ess co<span class=\"_ _0\"></span>mbination an<span class=\"_ _0\"></span>d that, at th<span class=\"_ _0\"></span>e time of the trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>, affe<span class=\"_ _0\"></span>cts nei<span class=\"_ _0\"></span>ther acc<span class=\"_ _0\"></span>ounting nor tax<span class=\"_ _0\"></span>able profit. T<span class=\"_ _0\"></span>he amount of deferre<span class=\"_ _0\"></span>d tax provid<span class=\"_ _0\"></span>ed is bas<span class=\"_ _0\"></span>ed on the exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d manner of re<span class=\"_ _0\"></span>alisation or s<span class=\"_ _0\"></span>ettle<span class=\"_ _0\"></span>ment of the ca<span class=\"_ _0\"></span>rrying a<span class=\"_ _0\"></span>mount of ass<span class=\"_ _0\"></span>ets and lia<span class=\"_ _0\"></span>bilities, u<span class=\"_ _0\"></span>sing tax r<span class=\"_ _0\"></span>ates and laws e<span class=\"_ _0\"></span>nacte<span class=\"_ _0\"></span>d or subst<span class=\"_ _0\"></span>antively ena<span class=\"_ _0\"></span>cted at th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span>A deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>set is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d only to the ex<span class=\"_ _0\"></span>tent that it is pro<span class=\"_ _0\"></span>bable that f<span class=\"_ _0\"></span>uture tax<span class=\"_ _0\"></span>able profits will b<span class=\"_ _0\"></span>e available ag<span class=\"_ _0\"></span>ainst whi<span class=\"_ _0\"></span>ch the ass<span class=\"_ _0\"></span>et can be utilise<span class=\"_ _0\"></span>d. Deferre<span class=\"_ _0\"></span>d tax as<span class=\"_ _0\"></span>sets are re<span class=\"_ _0\"></span>duce<span class=\"_ _0\"></span>d to the extent t<span class=\"_ _0\"></span>hat it is no lon<span class=\"_ _0\"></span>ger proba<span class=\"_ _0\"></span>ble that the re<span class=\"_ _0\"></span>lated tax b<span class=\"_ _0\"></span>enefit will b<span class=\"_ _0\"></span>e realised<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-637": {
   "value": "G9. Lea<span class=\"_ _0\"></span>se Liabilities<span class=\"_ _3bd\"> </span>The le<span class=\"_ _0\"></span>ase liabilit<span class=\"_ _0\"></span>y is initiall<span class=\"_ _0\"></span>y measure<span class=\"_ _0\"></span>d at the pres<span class=\"_ _0\"></span>ent value of the le<span class=\"_ _0\"></span>ase payme<span class=\"_ _0\"></span>nts that are n<span class=\"_ _0\"></span>ot paid at the co<span class=\"_ _0\"></span>mmenc<span class=\"_ _0\"></span>ement date, di<span class=\"_ _0\"></span>scounted u<span class=\"_ _0\"></span>sing the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s incre<span class=\"_ _0\"></span>mental b<span class=\"_ _0\"></span>orrowing rate as th<span class=\"_ _0\"></span>e interest r<span class=\"_ _0\"></span>ate implicit in the le<span class=\"_ _0\"></span>ase can<span class=\"_ _0\"></span>not be readil<span class=\"_ _0\"></span>y determine<span class=\"_ _0\"></span>d. For ground re<span class=\"_ _0\"></span>nt lease<span class=\"_ _0\"></span>s, the incre<span class=\"_ _0\"></span>mental b<span class=\"_ _0\"></span>orrowing rate of invest<span class=\"_ _0\"></span>ment funds h<span class=\"_ _0\"></span>olding the a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ated investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>ties is us<span class=\"_ _0\"></span>ed as the di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>. The leas<span class=\"_ _0\"></span>e liabilit<span class=\"_ _0\"></span>y is subs<span class=\"_ _0\"></span>equently in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d by the interes<span class=\"_ _0\"></span>t cost on t<span class=\"_ _0\"></span>he lease li<span class=\"_ _0\"></span>ability a<span class=\"_ _0\"></span>nd decre<span class=\"_ _0\"></span>ased by le<span class=\"_ _0\"></span>ase payme<span class=\"_ _0\"></span>nts made<span class=\"_ _0\"></span>. It is remea<span class=\"_ _0\"></span>sured whe<span class=\"_ _0\"></span>n there is a cha<span class=\"_ _0\"></span>nge in future l<span class=\"_ _0\"></span>ease paym<span class=\"_ _0\"></span>ents arisin<span class=\"_ _0\"></span>g from, for exa<span class=\"_ _0\"></span>mple, rent revie<span class=\"_ _0\"></span>ws or from chan<span class=\"_ _0\"></span>ges in the a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of whet<span class=\"_ _0\"></span>her a terminat<span class=\"_ _0\"></span>ion option is reas<span class=\"_ _0\"></span>onably cer<span class=\"_ _0\"></span>tain not to b<span class=\"_ _0\"></span>e exercise<span class=\"_ _0\"></span>d. The Group h<span class=\"_ _0\"></span>as applie<span class=\"_ _0\"></span>d judgem<span class=\"_ _0\"></span>ent to determin<span class=\"_ _0\"></span>e the lease te<span class=\"_ _0\"></span>rm for some le<span class=\"_ _0\"></span>ase contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ith break cla<span class=\"_ _0\"></span>uses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s wa65 h2b6\" id=\"_afe86dc8-e161-474f-920d-762eee253aec\"><tr><td></td><td class=\"t m0 x1ce h29 y6215 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y6215 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y6216 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6216 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b32 w3b3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">At 1 Janua<span class=\"_ _0\"></span>ry<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e00 y5b32 w2aa h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">74<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e01 y5b32 w9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls76 ws6e\">92<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b33 wa66 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Leas<span class=\"_ _0\"></span>es incepte<span class=\"_ _0\"></span>d during the yea<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6f9 y5b33 w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x36c y5b33 wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c48 wa67 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rmination of le<span class=\"_ _0\"></span>ases followin<span class=\"_ _0\"></span>g the dispos<span class=\"_ _0\"></span>al of asso<span class=\"_ _0\"></span>ciated inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ertie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e02 y5c48 w77 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 lsd1 ws4b\">(7)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e03 y5c48 w7e8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">(7)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa wa68 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Inter<span class=\"_ _2\"></span>est expense<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ba1 y5afa w96 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e04 y5afa wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 wa69 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5f ws122\">Lease pa<span class=\"_ _2\"></span>yments<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e05 y5c66 waf h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(11)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e06 y5c66 w1ba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(14)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w3b7 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x796 y5a46 w154 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls77 ws34\">64<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e07 y5a46 w155 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1dc ws1f6\">74<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wa6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt due within t<span class=\"_ _0\"></span>welve months<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa9f y5b2a w1b9 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls6d ws202\">13<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e08 y5b2a wb3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa6b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unt due after t<span class=\"_ _0\"></span>welve month<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e09 y5a16 w25c h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1ce ws1e7\">51<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21c y5a16 w77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e2 ws1fe\">65<span class=\"_ _3bd\"> </span></div></td></tr></table>Det<span class=\"_ _0\"></span>ails of the relate<span class=\"_ _0\"></span>d right-of-use as<span class=\"_ _0\"></span>sets are in<span class=\"_ _0\"></span>cluded in n<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s G3 and G4<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-684": {
   "value": "The le<span class=\"_ _0\"></span>ase liabilit<span class=\"_ _0\"></span>y is initiall<span class=\"_ _0\"></span>y measure<span class=\"_ _0\"></span>d at the pres<span class=\"_ _0\"></span>ent value of the le<span class=\"_ _0\"></span>ase payme<span class=\"_ _0\"></span>nts that are n<span class=\"_ _0\"></span>ot paid at the co<span class=\"_ _0\"></span>mmenc<span class=\"_ _0\"></span>ement date, di<span class=\"_ _0\"></span>scounted u<span class=\"_ _0\"></span>sing the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s incre<span class=\"_ _0\"></span>mental b<span class=\"_ _0\"></span>orrowing rate as th<span class=\"_ _0\"></span>e interest r<span class=\"_ _0\"></span>ate implicit in the le<span class=\"_ _0\"></span>ase can<span class=\"_ _0\"></span>not be readil<span class=\"_ _0\"></span>y determine<span class=\"_ _0\"></span>d. For ground re<span class=\"_ _0\"></span>nt lease<span class=\"_ _0\"></span>s, the incre<span class=\"_ _0\"></span>mental b<span class=\"_ _0\"></span>orrowing rate of invest<span class=\"_ _0\"></span>ment funds h<span class=\"_ _0\"></span>olding the a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ated investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>ties is us<span class=\"_ _0\"></span>ed as the di<span class=\"_ _0\"></span>scount rate<span class=\"_ _0\"></span>. The leas<span class=\"_ _0\"></span>e liabilit<span class=\"_ _0\"></span>y is subs<span class=\"_ _0\"></span>equently in<span class=\"_ _0\"></span>crease<span class=\"_ _0\"></span>d by the interes<span class=\"_ _0\"></span>t cost on t<span class=\"_ _0\"></span>he lease li<span class=\"_ _0\"></span>ability a<span class=\"_ _0\"></span>nd decre<span class=\"_ _0\"></span>ased by le<span class=\"_ _0\"></span>ase payme<span class=\"_ _0\"></span>nts made<span class=\"_ _0\"></span>. It is remea<span class=\"_ _0\"></span>sured whe<span class=\"_ _0\"></span>n there is a cha<span class=\"_ _0\"></span>nge in future l<span class=\"_ _0\"></span>ease paym<span class=\"_ _0\"></span>ents arisin<span class=\"_ _0\"></span>g from, for exa<span class=\"_ _0\"></span>mple, rent revie<span class=\"_ _0\"></span>ws or from chan<span class=\"_ _0\"></span>ges in the a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sment of whet<span class=\"_ _0\"></span>her a terminat<span class=\"_ _0\"></span>ion option is reas<span class=\"_ _0\"></span>onably cer<span class=\"_ _0\"></span>tain not to b<span class=\"_ _0\"></span>e exercise<span class=\"_ _0\"></span>d. The Group h<span class=\"_ _0\"></span>as applie<span class=\"_ _0\"></span>d judgem<span class=\"_ _0\"></span>ent to determin<span class=\"_ _0\"></span>e the lease te<span class=\"_ _0\"></span>rm for some le<span class=\"_ _0\"></span>ase contr<span class=\"_ _0\"></span>acts w<span class=\"_ _0\"></span>ith break cla<span class=\"_ _0\"></span>uses<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-603": {
   "value": "G10. Accruals and def<span class=\"_ _2\"></span>erred incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span>This note a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>s the Group\u2019s accru<span class=\"_ _0\"></span>als and deferre<span class=\"_ _0\"></span>d income a<span class=\"_ _0\"></span>t the end of the yea<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s wa6c h2b7\" id=\"_58b9e913-be01-42d4-995a-75ba6276cb8c\"><tr><td></td><td class=\"t m0 x1ce h29 y6217 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y6217 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y6218 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y6218 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5afa wa6d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Accruals<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x23d y5afa w46 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c4 ws1dc\">546<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0a y5afa w7bb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">5<span class=\"_ _0\"></span>45<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c66 wa6e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Deferre<span class=\"_ _0\"></span>d incom<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0b y5c66 w4e0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0c y5c66 w58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls76 ws6e\">34<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0d y5a46 w261 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">583<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0e y5a46 wea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">579<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts due for set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0f y5a16 w119 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5b ws1f8\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e10 y5a16 w345 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cf ws1e8\">42</div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-604": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls8f ws206 gsa5c\">G11. Other payabl<span class=\"_ _2\"></span>es<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa5d\">Oth<span class=\"_ _0\"></span>er payable<span class=\"_ _0\"></span>s are recog<span class=\"_ _0\"></span>nised wh<span class=\"_ _0\"></span>en due and are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d on initial rec<span class=\"_ _0\"></span>ognition at th<span class=\"_ _0\"></span>e fair value of the c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation payable. S<span class=\"_ _0\"></span>ubseq<span class=\"_ _0\"></span>uent </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa5e\">to<span class=\"_ gs47\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion, thes<span class=\"_ _0\"></span>e payables a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost usin<span class=\"_ _0\"></span>g the effec<span class=\"_ _0\"></span>tive interes<span class=\"_ _0\"></span>t rate metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span></div><div class=\"gsa5f\"><table class=\"s wa70 h2b8\" id=\"_fea01f27-6c52-407d-b9d8-d8d06d8f1779\"><tr><td></td><td class=\"t m0 x1ce h29 y6219 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y6219 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y621a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y621a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b3b wa22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Investment brok<span class=\"_ _2\"></span>er balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e11 y5b3b w16f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e4 ws200\">718<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0 y5b3b w277 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">7<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 wa71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y related paya<span class=\"_ _0\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e12 y5b34 w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e13 y5b34 w2d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa wa72 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment management<span class=\"_ _2\"></span> fees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e14 y5afa w1f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d1 y5afa w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c22 w159 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other paya<span class=\"_ _2\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e15 y5c22 w60d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec2 y5c22 w404 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>478<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd7 y5b24 w15a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e16 y5b24 w652 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,27<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts due for set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e17 y5a16 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e18 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-638": {
   "value": "G11. Other payabl<span class=\"_ _2\"></span>es<span class=\"_ _3bd\"> </span>Oth<span class=\"_ _0\"></span>er payable<span class=\"_ _0\"></span>s are recog<span class=\"_ _0\"></span>nised wh<span class=\"_ _0\"></span>en due and are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d on initial rec<span class=\"_ _0\"></span>ognition at th<span class=\"_ _0\"></span>e fair value of the c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation payable. S<span class=\"_ _0\"></span>ubseq<span class=\"_ _0\"></span>uent to<span class=\"_ gs47\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion, thes<span class=\"_ _0\"></span>e payables a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost usin<span class=\"_ _0\"></span>g the effec<span class=\"_ _0\"></span>tive interes<span class=\"_ _0\"></span>t rate metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span><table class=\"s wa70 h2b8\" id=\"_fea01f27-6c52-407d-b9d8-d8d06d8f1779\"><tr><td></td><td class=\"t m0 x1ce h29 y6219 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y6219 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y621a ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y621a ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5b3b wa22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Investment brok<span class=\"_ _2\"></span>er balan<span class=\"_ _0\"></span>ces<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e11 y5b3b w16f h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e4 ws200\">718<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e0 y5b3b w277 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">7<span class=\"_ _0\"></span>27<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b34 wa71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y related paya<span class=\"_ _0\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e12 y5b34 w123 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">57<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e13 y5b34 w2d5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e9 ws207\">51<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa wa72 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Inv<span class=\"_ _2\"></span>estment management<span class=\"_ _2\"></span> fees<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e14 y5afa w1f8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls144 ws150\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x4d1 y5afa w123 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">16<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c22 w159 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other paya<span class=\"_ _2\"></span>bles<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e15 y5c22 w60d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>487<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xec2 y5c22 w404 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls29 ws56\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>478<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 w3b7 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1cd7 y5b24 w15a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls74 ws1e5\">2<span class=\"_ _0\"></span>,28<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e16 y5b24 w652 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">2<span class=\"_ _0\"></span>,27<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amo<span class=\"_ _0\"></span>unts due for set<span class=\"_ _0\"></span>tlem<span class=\"_ _0\"></span>ent after 12 m<span class=\"_ _0\"></span>onths<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e17 y5a16 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e18 y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013</div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-685": {
   "value": "Oth<span class=\"_ _0\"></span>er payable<span class=\"_ _0\"></span>s are recog<span class=\"_ _0\"></span>nised wh<span class=\"_ _0\"></span>en due and are m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d on initial rec<span class=\"_ _0\"></span>ognition at th<span class=\"_ _0\"></span>e fair value of the c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation payable. S<span class=\"_ _0\"></span>ubseq<span class=\"_ _0\"></span>uent to<span class=\"_ gs47\"> </span>initial re<span class=\"_ _0\"></span>cognit<span class=\"_ _0\"></span>ion, thes<span class=\"_ _0\"></span>e payables a<span class=\"_ _0\"></span>re measure<span class=\"_ _0\"></span>d at amor<span class=\"_ _0\"></span>tised c<span class=\"_ _0\"></span>ost usin<span class=\"_ _0\"></span>g the effec<span class=\"_ _0\"></span>tive interes<span class=\"_ _0\"></span>t rate metho<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-605": {
   "value": "H. Interes<span class=\"_ _0\"></span>ts in subsidiaries and ass<span class=\"_ _0\"></span>ociates<span class=\"_ _3bd\"> </span>H1. S<span class=\"_ _0\"></span>ubsidiaries<span class=\"_ _3bd\"> </span>Subs<span class=\"_ _0\"></span>idiaries are c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d from the date th<span class=\"_ _0\"></span>at effec<span class=\"_ _0\"></span>tive control is obt<span class=\"_ _0\"></span>ained by the G<span class=\"_ _0\"></span>roup (see Ba<span class=\"_ _0\"></span>sis of consoli<span class=\"_ _0\"></span>dation in note A<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>) and are exclude<span class=\"_ _0\"></span>d from con<span class=\"_ _0\"></span>solidation fro<span class=\"_ _0\"></span>m the date they ce<span class=\"_ _0\"></span>ase to be sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s. For subsi<span class=\"_ _0\"></span>diaries disp<span class=\"_ _0\"></span>osed of durin<span class=\"_ _0\"></span>g the year<span class=\"_ _2\"></span>, any dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e arisin<span class=\"_ _0\"></span>g from the rec<span class=\"_ _0\"></span>ognition of the n<span class=\"_ _0\"></span>et proce<span class=\"_ _0\"></span>eds<span class=\"_ _0\"></span>, recogn<span class=\"_ _0\"></span>ition of the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f any ret<span class=\"_ _0\"></span>ained intere<span class=\"_ _0\"></span>st and de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nition of the car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of the subs<span class=\"_ _0\"></span>idiary in<span class=\"_ _0\"></span>cluding n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s, is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up uses the a<span class=\"_ _0\"></span>cquisitio<span class=\"_ _0\"></span>n method to a<span class=\"_ _0\"></span>ccount for th<span class=\"_ _0\"></span>e acquisitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>ubsidiaries<span class=\"_ _0\"></span>. The co<span class=\"_ _0\"></span>st of an acqui<span class=\"_ _0\"></span>sition is mea<span class=\"_ _0\"></span>sured at the f<span class=\"_ _0\"></span>air value of the con<span class=\"_ _0\"></span>sideration<span class=\"_ _0\"></span>. Any exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e cost of ac<span class=\"_ _0\"></span>quisition over th<span class=\"_ _0\"></span>e fair value of the net a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d is recog<span class=\"_ _0\"></span>nised as g<span class=\"_ _0\"></span>oodwill. I<span class=\"_ _0\"></span>n cer<span class=\"_ _0\"></span>tain acqui<span class=\"_ _0\"></span>sitions an exce<span class=\"_ _0\"></span>ss of the acq<span class=\"_ _0\"></span>uirer\u2019<span class=\"_ _2\"></span>s inte<span class=\"_ _0\"></span>rest in the n<span class=\"_ _0\"></span>et fair value of the ac<span class=\"_ _0\"></span>quiree\u2019s identifiab<span class=\"_ _0\"></span>le asset<span class=\"_ _0\"></span>s, lia<span class=\"_ _0\"></span>bilities, c<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt liabilities an<span class=\"_ _0\"></span>d non-cont<span class=\"_ _0\"></span>rolling interes<span class=\"_ _0\"></span>ts over cos<span class=\"_ _0\"></span>t may arise<span class=\"_ _0\"></span>. Where this oc<span class=\"_ _0\"></span>curs<span class=\"_ _0\"></span>, the surplu<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value of net a<span class=\"_ _0\"></span>ssets a<span class=\"_ _0\"></span>cquired over th<span class=\"_ _0\"></span>e fair value of the c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span>Direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le acquisit<span class=\"_ _0\"></span>ion cost<span class=\"_ _0\"></span>s are include<span class=\"_ _0\"></span>d within admin<span class=\"_ _0\"></span>istrative exp<span class=\"_ _0\"></span>enses<span class=\"_ _0\"></span>, except for a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s under<span class=\"_ _0\"></span>taken prior to 201<span class=\"_ _0\"></span>0 when the<span class=\"_ _0\"></span>y are incl<span class=\"_ _0\"></span>uded within th<span class=\"_ _0\"></span>e cost of the a<span class=\"_ _0\"></span>cquisitio<span class=\"_ _0\"></span>n. Cos<span class=\"_ _0\"></span>ts direc<span class=\"_ _0\"></span>tly related to th<span class=\"_ _0\"></span>e issuing of de<span class=\"_ _0\"></span>bt or equit<span class=\"_ _0\"></span>y sec<span class=\"_ _0\"></span>urities are inc<span class=\"_ _0\"></span>luded with<span class=\"_ _0\"></span>in the initial car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of debt or e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s where the<span class=\"_ _0\"></span>se are not car<span class=\"_ _0\"></span>ried at fair valu<span class=\"_ _0\"></span>e. Intra-g<span class=\"_ _0\"></span>roup balan<span class=\"_ _0\"></span>ces and in<span class=\"_ _0\"></span>come and ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s arising from intra-<span class=\"_ _0\"></span>group trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s are eliminate<span class=\"_ _0\"></span>d in preparing t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has investe<span class=\"_ _0\"></span>d in a number of c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes s<span class=\"_ _0\"></span>uch as Op<span class=\"_ _0\"></span>en-end<span class=\"_ _0\"></span>ed Investm<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>anies (\u2018O<span class=\"_ _0\"></span>EICs\u2019), uni<span class=\"_ _0\"></span>t trust<span class=\"_ _0\"></span>s, So<span class=\"_ _0\"></span>ci\u00e9t\u00e9 d\u2019<span class=\"_ _0\"></span>Investis<span class=\"_ _0\"></span>seme<span class=\"_ _0\"></span>nt \u00e0 Capital Variable (<span class=\"_ _0\"></span>\u2018SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>Vs<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>), investm<span class=\"_ _0\"></span>ent trust<span class=\"_ _0\"></span>s and private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds. T<span class=\"_ _0\"></span>hese inves<span class=\"_ _0\"></span>t mainly in eq<span class=\"_ _0\"></span>uities, b<span class=\"_ _0\"></span>onds<span class=\"_ _0\"></span>, proper<span class=\"_ _0\"></span>ty a<span class=\"_ _0\"></span>nd ca<span class=\"_ _0\"></span>sh and cas<span class=\"_ _0\"></span>h equivale<span class=\"_ _0\"></span>nts. Th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>ercenta<span class=\"_ _0\"></span>ge owner<span class=\"_ _0\"></span>ship in thes<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s can fluc<span class=\"_ _0\"></span>tuate acc<span class=\"_ _0\"></span>ording to the leve<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f Group an<span class=\"_ _0\"></span>d third par<span class=\"_ _0\"></span>ty pa<span class=\"_ _0\"></span>rticip<span class=\"_ _0\"></span>ation in the str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>When a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing contro<span class=\"_ _0\"></span>l ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s, the G<span class=\"_ _0\"></span>roup consi<span class=\"_ _0\"></span>ders tho<span class=\"_ _0\"></span>se factor<span class=\"_ _0\"></span>s describ<span class=\"_ _0\"></span>ed unde<span class=\"_ _0\"></span>r the Basis of co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n in note A1. In par<span class=\"_ _0\"></span>ticular, the Group c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>s the sco<span class=\"_ _0\"></span>pe of its dec<span class=\"_ _0\"></span>ision-makin<span class=\"_ _0\"></span>g authori<span class=\"_ _0\"></span>ty, including t<span class=\"_ _0\"></span>he existen<span class=\"_ _0\"></span>ce of subst<span class=\"_ _0\"></span>antive rights (su<span class=\"_ _0\"></span>ch as power of veto, liquida<span class=\"_ _0\"></span>tion rights an<span class=\"_ _0\"></span>d the right to rem<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve th<span class=\"_ _0\"></span>e fund man<span class=\"_ _0\"></span>ager) that give it t<span class=\"_ _0\"></span>he abilit<span class=\"_ _0\"></span>y to direct the re<span class=\"_ _0\"></span>levant acti<span class=\"_ _0\"></span>vities of the inves<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e. The as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of whether r<span class=\"_ _0\"></span>ights are sub<span class=\"_ _0\"></span>stantive rig<span class=\"_ _0\"></span>hts, an<span class=\"_ _0\"></span>d the circums<span class=\"_ _0\"></span>tanc<span class=\"_ _0\"></span>es under whic<span class=\"_ _0\"></span>h the Group ha<span class=\"_ _0\"></span>s the prac<span class=\"_ _0\"></span>tical abili<span class=\"_ _0\"></span>ty to exercis<span class=\"_ _0\"></span>e them, require<span class=\"_ _0\"></span>s the exercise of j<span class=\"_ _0\"></span>udgeme<span class=\"_ _0\"></span>nt. This as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment incl<span class=\"_ _0\"></span>udes a qualit<span class=\"_ _0\"></span>ative consid<span class=\"_ _0\"></span>eration of the rig<span class=\"_ _0\"></span>hts held by th<span class=\"_ _0\"></span>e Group that are a<span class=\"_ _0\"></span>tta<span class=\"_ _0\"></span>ched to its holdin<span class=\"_ _0\"></span>gs in the co<span class=\"_ _0\"></span>llective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes<span class=\"_ _0\"></span>, rights th<span class=\"_ _0\"></span>at arise from c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween the Gro<span class=\"_ _0\"></span>up and the enti<span class=\"_ _0\"></span>ty or fun<span class=\"_ _0\"></span>d man<span class=\"_ _0\"></span>ager an<span class=\"_ _0\"></span>d the rights h<span class=\"_ _0\"></span>eld by third par<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>. In addition<span class=\"_ _0\"></span>, consid<span class=\"_ _0\"></span>eration is ma<span class=\"_ _0\"></span>de of whether t<span class=\"_ _0\"></span>he Group has d<span class=\"_ _0\"></span>e facto powe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, for exampl<span class=\"_ _0\"></span>e, where third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s in the colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes are wide<span class=\"_ _0\"></span>ly disper<span class=\"_ _0\"></span>sed. Where G<span class=\"_ _0\"></span>roup compa<span class=\"_ _0\"></span>nies are dee<span class=\"_ _0\"></span>med to cont<span class=\"_ _0\"></span>rol such coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes the<span class=\"_ _0\"></span>y are consoli<span class=\"_ _0\"></span>dated in the Gro<span class=\"_ _0\"></span>up financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents, with the inte<span class=\"_ _0\"></span>rests of ex<span class=\"_ _0\"></span>ternal th<span class=\"_ _0\"></span>ird parti<span class=\"_ _0\"></span>es reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s<span class=\"_ gs47\"> </span>a liabilit<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ee the ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy for \u2018N<span class=\"_ _0\"></span>et ass<span class=\"_ _0\"></span>et value at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to unitholde<span class=\"_ _0\"></span>rs in note E1 for fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails).<span class=\"_ _3bd\"> </span>Ce<span class=\"_ _0\"></span>rtain of th<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s have non-cote<span class=\"_ _0\"></span>rminous p<span class=\"_ _0\"></span>eriod end<span class=\"_ _0\"></span>s and are con<span class=\"_ _0\"></span>solidated o<span class=\"_ _0\"></span>n the basis of ad<span class=\"_ _0\"></span>ditional fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atements p<span class=\"_ _0\"></span>repared to th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span>Portfolio transfers<span class=\"_ _3bd\"> </span>When c<span class=\"_ _0\"></span>ompletin<span class=\"_ _0\"></span>g an acquisit<span class=\"_ _0\"></span>ion, the Gro<span class=\"_ _0\"></span>up first c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>s whether th<span class=\"_ _0\"></span>e acquisiti<span class=\"_ _0\"></span>on meet<span class=\"_ _0\"></span>s the definition of a bu<span class=\"_ _0\"></span>siness c<span class=\"_ _0\"></span>ombination un<span class=\"_ _0\"></span>der IFRS 3 Busin<span class=\"_ _0\"></span>ess C<span class=\"_ _0\"></span>ombinations<span class=\"_ _0\"></span>. IFRS 3<span class=\"_ _0\"></span>, and th<span class=\"_ _0\"></span>e use of acquis<span class=\"_ _0\"></span>ition acco<span class=\"_ _0\"></span>unting, d<span class=\"_ _0\"></span>oes not app<span class=\"_ _0\"></span>ly in circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s where the ac<span class=\"_ _0\"></span>quisition of an as<span class=\"_ _0\"></span>set or a group of as<span class=\"_ _0\"></span>sets d<span class=\"_ _0\"></span>oes not con<span class=\"_ _0\"></span>stitute a b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, and is in<span class=\"_ _0\"></span>stead a p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio of asse<span class=\"_ _0\"></span>ts and liabili<span class=\"_ _0\"></span>ties. In s<span class=\"_ _0\"></span>uch cas<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>olicy is to rec<span class=\"_ _0\"></span>ognise and m<span class=\"_ _0\"></span>easure the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s acquired a<span class=\"_ _0\"></span>nd liabilities a<span class=\"_ _0\"></span>ssume<span class=\"_ _0\"></span>d in accord<span class=\"_ _0\"></span>ance with th<span class=\"_ _0\"></span>e Group\u2019s accountin<span class=\"_ _0\"></span>g policies fo<span class=\"_ _0\"></span>r those as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>. The diffe<span class=\"_ _0\"></span>rence be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n the consid<span class=\"_ _0\"></span>eration an<span class=\"_ _0\"></span>d the net as<span class=\"_ _0\"></span>sets or lia<span class=\"_ _0\"></span>bilities acq<span class=\"_ _0\"></span>uired is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span>H1.1 Significant<span class=\"_ _2\"></span> rest<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ictions<span class=\"_ _3bd\"> </span>The ab<span class=\"_ _0\"></span>ility of subsi<span class=\"_ _0\"></span>diaries to tran<span class=\"_ _0\"></span>sfer fund<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e Group in the form of c<span class=\"_ _0\"></span>ash dividen<span class=\"_ _0\"></span>ds or to repay loa<span class=\"_ _0\"></span>ns and adva<span class=\"_ _0\"></span>nces is sub<span class=\"_ _0\"></span>jec<span class=\"_ _0\"></span>t t<span class=\"_ _2\"></span>o l<span class=\"_ _0\"></span>ocal law<span class=\"_ _0\"></span>s, reg<span class=\"_ _0\"></span>ulations and s<span class=\"_ _0\"></span>olvency re<span class=\"_ _0\"></span>quirement<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span>Eac<span class=\"_ _0\"></span>h regulate<span class=\"_ _0\"></span>d company an<span class=\"_ _0\"></span>d the Group mus<span class=\"_ _0\"></span>t retain suf<span class=\"_ _0\"></span>ficient c<span class=\"_ _0\"></span>apital at all t<span class=\"_ _0\"></span>imes to mee<span class=\"_ _0\"></span>t the regula<span class=\"_ _0\"></span>tory c<span class=\"_ _0\"></span>apital req<span class=\"_ _0\"></span>uirements m<span class=\"_ _0\"></span>andated by o<span class=\"_ _0\"></span>r other<span class=\"_ _0\"></span>wise a<span class=\"_ _0\"></span>greed wit<span class=\"_ _0\"></span>h the relevant na<span class=\"_ _0\"></span>tional supe<span class=\"_ _0\"></span>rvis<span class=\"_ _0\"></span>ory a<span class=\"_ _0\"></span>uthorit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Fur<span class=\"_ _0\"></span>ther informatio<span class=\"_ _0\"></span>n on the capi<span class=\"_ _0\"></span>tal requirem<span class=\"_ _0\"></span>ents app<span class=\"_ _0\"></span>licable to Gro<span class=\"_ _0\"></span>up entities are set o<span class=\"_ _0\"></span>ut in the Capit<span class=\"_ _0\"></span>al manag<span class=\"_ _0\"></span>ement se<span class=\"_ _0\"></span>ction (note I3<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>. Un<span class=\"_ _0\"></span>der UK co<span class=\"_ _0\"></span>mpany law, dividen<span class=\"_ _0\"></span>ds can onl<span class=\"_ _0\"></span>y be paid if a UK c<span class=\"_ _0\"></span>ompany has di<span class=\"_ _0\"></span>stribut<span class=\"_ _0\"></span>able reser<span class=\"_ _0\"></span>ves sufficient<span class=\"_ _2\"></span> to cov<span class=\"_ _2\"></span>er the divi<span class=\"_ _2\"></span>dend.<span class=\"_ _3bd\"> </span>In add<span class=\"_ _0\"></span>ition, cont<span class=\"_ _0\"></span>ractu<span class=\"_ _0\"></span>al requirem<span class=\"_ _0\"></span>ents may pla<span class=\"_ _0\"></span>ce restr<span class=\"_ _0\"></span>ictions on th<span class=\"_ _0\"></span>e transfe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f f<span class=\"_ _0\"></span>unds as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pearl Life H<span class=\"_ _0\"></span>oldings Limite<span class=\"_ _0\"></span>d (\u2018<span class=\"_ _0\"></span>P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>LHL<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>) is require<span class=\"_ _0\"></span>d to make payments of c<span class=\"_ _0\"></span>ontribution<span class=\"_ _0\"></span>s int<span class=\"_ _2\"></span>o c<span class=\"_ _0\"></span>harged a<span class=\"_ _0\"></span>ccount<span class=\"_ _0\"></span>s on beha<span class=\"_ _0\"></span>lf o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Abbey Life Sc<span class=\"_ _0\"></span>heme. The<span class=\"_ _0\"></span>se amount<span class=\"_ _0\"></span>s do not form par<span class=\"_ _0\"></span>t of the pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me ass<span class=\"_ _0\"></span>ets and at 31 D<span class=\"_ _0\"></span>ecem<span class=\"_ _0\"></span>ber 2024, PeLH<span class=\"_ _0\"></span>L held \u00a32<span class=\"_ _0\"></span>0 million (2023: \u00a3<span class=\"_ _0\"></span>9 million) within debt se<span class=\"_ _0\"></span>curities an<span class=\"_ _0\"></span>d \u00a319 millio<span class=\"_ _0\"></span>n (2023: \u00a324 million) within c<span class=\"_ _0\"></span>ash and c<span class=\"_ _0\"></span>ash equiva<span class=\"_ _0\"></span>lents in resp<span class=\"_ _0\"></span>ect of the<span class=\"_ _0\"></span>se charg<span class=\"_ _0\"></span>ed acc<span class=\"_ _0\"></span>ounts<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails of when th<span class=\"_ _0\"></span>e remain<span class=\"_ _0\"></span>ing amount<span class=\"_ _0\"></span>s may bec<span class=\"_ _0\"></span>ome payable to th<span class=\"_ _0\"></span>e pension s<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>re include<span class=\"_ _0\"></span>d in note G1.<span class=\"_ _0\"></span>3.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ReA<span class=\"_ _0\"></span>ssure Midc<span class=\"_ _0\"></span>o Limited (\u2018<span class=\"_ _0\"></span>RM<span class=\"_ _0\"></span>L<span class=\"_ _3\"></span>\u2019<span class=\"_ _0\"></span>) is required to m<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e paym<span class=\"_ _0\"></span>ents of contrib<span class=\"_ _0\"></span>utions into a ring<span class=\"_ _0\"></span>-f<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nced a<span class=\"_ _0\"></span>ccount on b<span class=\"_ _0\"></span>ehalf of the ReA<span class=\"_ _0\"></span>ssure Staf<span class=\"_ _0\"></span>f Pension S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e. These a<span class=\"_ _0\"></span>mounts do n<span class=\"_ _0\"></span>ot form par<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e pension s<span class=\"_ _0\"></span>cheme a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s and at 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, RML h<span class=\"_ _0\"></span>eld \u00a3<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>3 million (2023<span class=\"_ _0\"></span>: \u00a344 million) with<span class=\"_ _0\"></span>in debt sec<span class=\"_ _0\"></span>urities in resp<span class=\"_ _0\"></span>ect of this a<span class=\"_ _0\"></span>ccount<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>ur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails of when th<span class=\"_ _0\"></span>ese amo<span class=\"_ _0\"></span>unts may be<span class=\"_ _0\"></span>come payabl<span class=\"_ _0\"></span>e to the pensi<span class=\"_ _0\"></span>on schem<span class=\"_ _0\"></span>e are incl<span class=\"_ _0\"></span>uded in note G1<span class=\"_ _0\"></span>.4.<span class=\"_ _3bd\"> </span><div class=\"t m0 h27 ff3 fse fc3 sc0 ls6b ws169 gsac8\">H6<span class=\"_ _0\"></span>. Group entitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac9\">The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s s<span class=\"_ _0\"></span>ubsidiaries (in<span class=\"_ _0\"></span>cluding c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es), asso<span class=\"_ _0\"></span>ciates and s<span class=\"_ _0\"></span>ignificant h<span class=\"_ _0\"></span>oldings in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaca\">under<span class=\"_ _0\"></span>takin<span class=\"_ _0\"></span>gs (inclu<span class=\"_ _0\"></span>ding under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s in which the h<span class=\"_ _0\"></span>olding amo<span class=\"_ _0\"></span>unts to 20% or mo<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e nominal va<span class=\"_ _0\"></span>lue of the share<span class=\"_ _0\"></span>s or units and t<span class=\"_ _0\"></span>hey are not </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsacb\">clas<span class=\"_ _0\"></span>sified as a s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y or ass<span class=\"_ _0\"></span>ociate).<span class=\"_ _3bd\"> </span></div><div class=\"gsacc\"><table class=\"s wa81 h2bc\" id=\"_31ee472f-3ac1-4260-8d61-7b56fcfab8da\"><tr><td></td><td></td><td></td><td class=\"t m0 x1e33 h29 y6224 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y6224 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x1e34 h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td></td><td class=\"t m0 x67b h29 y6226 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y6226 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y6226 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y6226 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y6227 ff3 fs6 fc3 sc0 ls1 ws1\">Subsi<span class=\"_ _0\"></span>diaries<span class=\"ff2\">:<span class=\"_ _3bd\"> </span></span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6228 wa82 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Limited (life as<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e36 y6228 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y6228 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y6228 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6229 wa85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Assur<span class=\"_ _0\"></span>ance Europ<span class=\"_ _0\"></span>e D<span class=\"_ _2\"></span>AC (life ass<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e38 y6229 w7af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e39 y6229 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3a y6229 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y622a ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life CA Limited (Form<span class=\"_ _0\"></span>erly Sun Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y622b wa86 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">of Cana<span class=\"_ _0\"></span>da (U.K<span class=\"_ _0\"></span>.)<span class=\"_ gs47\"> </span>Limited) (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3b y622b wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3c y622b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3d y622b wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622c wa8a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Re Limited (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x18e9 y622c wa8b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1e3e h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622d wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622d w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622e wa8c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Life Limited (life as<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e42 y622e wa8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e41 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622f wa8e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Limited (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e44 y622f wa8f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e43 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6230 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>urance Limite<span class=\"_ _0\"></span>d (life assur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6231 wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">comp<span class=\"_ _0\"></span>any \u2013 directly ow<span class=\"_ _0\"></span>ned by the C<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e45 y6231 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e46 y6231 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y6231 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6232 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life In<span class=\"_ _2\"></span>ternational De<span class=\"_ _0\"></span>signat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d A<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>tivity Company (life </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6233 wa92 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ompany \u2013 direc<span class=\"_ _0\"></span>tly owned by t<span class=\"_ _0\"></span>he Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e48 y6233 wa93 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin<span class=\"_ _4\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e49 y6233 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4a y6233 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6234 wa94 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Ser<span class=\"_ _0\"></span>vices Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vices c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4b y6234 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xba4 y6234 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4c y6234 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6235 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group M<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent Ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s Limited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6236 wa95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws11\">(ma<span class=\"_ _2\"></span>nagement services compan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4d y6236 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4e y6236 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4f y6236 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6237 wa97 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Irelan<span class=\"_ _0\"></span>d) Limited (mana<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nt serv<span class=\"_ _0\"></span>ices comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e51 y6237 wa98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x1e50 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6238 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6238 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6239 ff2 fs6 fc3 sc0 ls1a ws13\">Phoenix Management<span class=\"_ _2\"></span> Ser<span class=\"_ _0\"></span>vices<span class=\"_ _2\"></span> (Bermuda) L<span class=\"_ _2\"></span>imited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y623a wa95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws11\">(ma<span class=\"_ _2\"></span>nagement services compan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e53 y623a wa99 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1e52 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y623b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y623b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623c wa9a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure UK S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt ser<span class=\"_ _0\"></span>vices co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e55 y623c wa9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e54 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y623c wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y623c w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623d wa9c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">P<span class=\"_ _2\"></span>A (GI<span class=\"_ _0\"></span>) Limited (non-tra<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e56 y623d wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xdef y623d wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y623d w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623e w2b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">103<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e58 y623e wa9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Wardo<span class=\"_ _0\"></span>ur Street Ret<span class=\"_ _0\"></span>ail Investm<span class=\"_ _0\"></span>ent Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y623f wa9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Limited (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e5a y623f waa0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e59 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6240 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6240 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6241 ff2 fs6 fc3 sc0 ls17f ws1\">3 St Andrew S<span class=\"_ _0\"></span>quare Apa<span class=\"_ _0\"></span>rtme<span class=\"_ _0\"></span>nts Limited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6242 waa1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">(proper<span class=\"_ _0\"></span>ty manage<span class=\"_ _0\"></span>ment company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e5c y6242 waa2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1e5b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6242 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6242 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6243 waa3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife A<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce Comp<span class=\"_ _0\"></span>any Limited (non-tra<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5d y6243 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6243 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6243 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6244 waa4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st Se<span class=\"_ _0\"></span>curities Limite<span class=\"_ _0\"></span>d (pensio<span class=\"_ _0\"></span>n truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5d y6244 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6244 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6244 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6245 waa5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stee Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e60 y6245 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y6245 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y6245 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6246 waa6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Alba LAS Pensions Managem<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e62 y6246 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6246 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6246 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6247 waa7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Alba Life T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>no<span class=\"_ _0\"></span>n-trading c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xfb7 y6247 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e63 y6247 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y6247 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xb74 hc y6248 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Lia<span class=\"_ _0\"></span>bility </td><td></td></tr><tr><td class=\"c n x1d4 y5e18 waa8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">A<span class=\"_ _0\"></span>xial Fundame<span class=\"_ _0\"></span>ntal Strate<span class=\"_ _0\"></span>gies (US I<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) LLC (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1c3b y5e18 waa9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">W<span class=\"_ _0\"></span>ilmington</div><div class=\"t m0 x1e65 h11 y5b9e ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e66 y5ae4 waaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e67 y5ae4 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 waab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">BA (FURBS) Limited (dormant<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ompan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e68 y5ae5 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e69 y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6a y5ae5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 waac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Barnwo<span class=\"_ _0\"></span>od Proper<span class=\"_ _0\"></span>ties Limite<span class=\"_ _0\"></span>d (proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6b y5b29 waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y5b29 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y5b29 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 waae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">BL T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span>ford Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e6f y5b06 waaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e6e h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5b06 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wab0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brit<span class=\"_ _0\"></span>annic Finan<span class=\"_ _0\"></span>ce Limited (finan<span class=\"_ _0\"></span>ce and insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e70 y5b2a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e71 y5b2a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e72 y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wab1 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brit<span class=\"_ _0\"></span>annic Group S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e73 y5a16 wa87 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y5a16 w687 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wab2 h2bd\" id=\"_c3ea7992-d784-4869-b8b2-22cc7940f815\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y6249 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y6249 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y624b ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y624b ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y624b ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y624b ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y624c ff2 fs6 fc3 sc0 ls56 wsd\">Britannic Mon<span class=\"_ _0\"></span>ey In<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span>tment Ser<span class=\"_ _0\"></span>vices Limited </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y624d wab3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb\">(in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> advice co<span class=\"_ _2\"></span>mpany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e77 y624d wab4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall</div><div class=\"t m0 x1e76 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624d wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624d w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y624e wab5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ce<span class=\"_ _0\"></span>ntury T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee Se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e79 y624e wab6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll</div><div class=\"t m0 x1e78 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y624f wab7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">CGE M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Co<span class=\"_ _0\"></span>mpany Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7b y624f wab8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1e7a h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624f w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wab9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">CH M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Limited (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7d y6250 waba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Wilming<span class=\"_ _0\"></span>ton</div><div class=\"t m0 x1e7c h11 y5a78 ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6251 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6251 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wabb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">City<span class=\"_ _0\"></span>fourinc (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7f y6252 wabc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall</div><div class=\"t m0 x1e7e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e80 y6252 wabd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d with Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e81 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6253 ff2 fs6 fc3 sc0 ls1a ws13\">ERIP General P<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ner Limit<span class=\"_ _2\"></span>ed (General Pa<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>tner </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6254 wabe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">to ERI<span class=\"_ _0\"></span>P Limited Par<span class=\"_ _0\"></span>tnership)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e83 y6254 wabf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _1\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e82 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6254 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e84 y6254 wac0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">8<span class=\"_ _0\"></span>0.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6255 wac1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ERI<span class=\"_ _0\"></span>P Limited Par<span class=\"_ _0\"></span>tnersh<span class=\"_ _0\"></span>ip (Limited Par<span class=\"_ _0\"></span>tners<span class=\"_ _0\"></span>hip<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e86 y6255 wac2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e85 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6255 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6255 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6256 wac3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G As<span class=\"_ _0\"></span>surance &amp; Pen<span class=\"_ _0\"></span>sions Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (non-tra<span class=\"_ _0\"></span>ding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e88 y6256 wac4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e87 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6256 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6256 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6257 wac5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">G Financial Ser<span class=\"_ _0\"></span>vices Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8a y6257 wac6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e89 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6257 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6257 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6258 wac7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G Life H Limited (h<span class=\"_ _0\"></span>olding com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x131a y6258 wac8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1e8b h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6258 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6258 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6259 wac9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>td (trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8d y6259 waca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e8c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6259 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6259 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625a wacb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Gallions Reach Shopping Park (Nominee) Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8f y625a wacc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e8e h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625b wacd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Gres<span class=\"_ _0\"></span>ham Life Assur<span class=\"_ _0\"></span>ance S<span class=\"_ _0\"></span>ociet<span class=\"_ _0\"></span>y Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e55 y625b wa9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e54 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625c wace h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ice<span class=\"_ _0\"></span>ni Nomine<span class=\"_ _0\"></span>es (No. 2) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e91 y625c wacf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e90 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625c w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625d wad0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">IH (Jersey) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e93 y625d wad1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x1e92 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625d wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625d w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625e wad2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Impa<span class=\"_ _0\"></span>la Holding<span class=\"_ _0\"></span>s Limited (hol<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e94 y625e wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e46 y625e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y625e wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625f wad3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Impala Loan Company 1 Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x10f6 y625f wad4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1e95 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6260 wad5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Inhoco 31<span class=\"_ _0\"></span>0<span class=\"_ _2\"></span>7 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e97 y6260 wad6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e96 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6260 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6260 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6261 wad7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Laur<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ust Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e60 y6261 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y6261 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y6261 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6262 wad8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">London Lif<span class=\"_ _2\"></span>e T<span class=\"_ _2\"></span>rustees Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e98 y6262 wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6262 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6262 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6263 wada h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Namulas Pension T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (trustee company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e9c y6263 wadb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e9b h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6263 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6263 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x1e9d hc y6264 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d without </td><td></td></tr><tr><td class=\"c n x1d4 y6265 wadc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">National Provident Institution (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9e y6265 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x243 y6265 wadd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9f y6265 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6266 wade h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">National Provident L<span class=\"_ _2\"></span>ife Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea0 y6266 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea1 y6266 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea2 y6266 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6267 wae0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NM Life T<span class=\"_ _4\"></span>rustees Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xa26 y6267 wae1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1ea3 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6267 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6267 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6268 wae2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NM Pensions Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ea5 y6268 wae3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1ea4 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6268 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6268 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6269 wae4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">NP Life Ho<span class=\"_ _0\"></span>ldings Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea6 y6269 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea7 y6269 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea8 y6269 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626a wae5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NPI (Printworks) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea9 y626a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y626a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y626a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626b wae6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">NPI (<span class=\"_ _0\"></span>Westg<span class=\"_ _0\"></span>ate<span class=\"_ _2\"></span>) Limite<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eac y626b wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ead y626b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eae y626b wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y626c ff2 fs6 fc3 sc0 ls17f ws1\">Patria Private Equi<span class=\"_ _0\"></span>ty T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t plc (formerly kn<span class=\"_ _0\"></span>ow as abrdn Private </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y626d wae7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Equit<span class=\"_ _0\"></span>y Oppor<span class=\"_ _0\"></span>tunitie<span class=\"_ _0\"></span>s T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t plc) (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1eb0 y626d wae8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1eaf h11 y5b56 ff2 fs9 fc3 sc0 ls1fb ws219\">49<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y626e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y626e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626f wae9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl (Cov<span class=\"_ _2\"></span>ent Garden) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6b y626f waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y626f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y626f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623b waea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (M<span class=\"_ _0\"></span>artin<span class=\"_ _0\"></span>eau Phas<span class=\"_ _0\"></span>e 1) Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb1 y623b wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb2 y623b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb3 y623b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6270 waea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (M<span class=\"_ _0\"></span>artin<span class=\"_ _0\"></span>eau Phas<span class=\"_ _0\"></span>e 2) Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb4 y6270 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb5 y6270 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb6 y6270 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6271 waeb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl (Moor House) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb7 y6271 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb8 y6271 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb9 y6271 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb74 hc y6272 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Lia<span class=\"_ _0\"></span>bility </td><td></td></tr><tr><td class=\"c n x1d4 y6240 waed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (<span class=\"_ _0\"></span>WP) Investm<span class=\"_ _0\"></span>ents LLC (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ebb y6240 waee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Wilm<span class=\"_ _0\"></span>ington</div><div class=\"t m0 x1eba h11 y5b56 ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e66 y6240 waaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e67 y6240 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6273 waef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl AL L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebc y6273 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ebd y6273 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebe y6273 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6274 waf0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Group Hol<span class=\"_ _0\"></span>dings Limited (inve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebf y6274 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6274 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6274 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6275 waf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl Customer Care Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (financial ser<span class=\"_ _0\"></span>vices company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec0 y6275 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec1 y6275 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec2 y6275 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6276 waf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Holding<span class=\"_ _0\"></span>s (No. 1) Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ec4 y6276 waf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x1ec3 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6276 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6276 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6277 waf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Holding<span class=\"_ _0\"></span>s (No. 2) Limited (<span class=\"_ _0\"></span>holding co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec5 y6277 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec6 y6277 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec7 y6277 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6278 waf5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Secre<span class=\"_ _0\"></span>tariat Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec8 y6278 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec9 y6278 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eca y6278 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6279 waf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Life Hol<span class=\"_ _0\"></span>dings Limite<span class=\"_ _0\"></span>d (holding c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecb y6279 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xdef y6279 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y6279 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y627a waf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl MP Birmingham Limi<span class=\"_ _2\"></span>ted (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecc y627a wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ecd y627a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ece y627a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c36 waf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl RL<span class=\"_ _2\"></span>G Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecf y5c36 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed0 y5c36 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y5c36 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y627b waf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl T<span class=\"_ _4\"></span>rustee<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed2 y627b waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed3 y627b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed4 y627b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y627c ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 4<span class=\"_ _0\"></span>) L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited) (formerly kn<span class=\"_ _0\"></span>ow as Phoe<span class=\"_ _0\"></span>nix </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c3a wafa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Life<span class=\"_ _2\"></span> CA Holdings Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed5 y5c3a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed6 y5c3a wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y5c3a wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y627d ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 5<span class=\"_ _0\"></span>) Limited (formerly k<span class=\"_ _0\"></span>nown as Phoe<span class=\"_ _0\"></span>nix </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wafb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Group CA S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces Limited) (dor<span class=\"_ _0\"></span>mant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed7 y5a16 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e49 y5a16 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4a y5a16 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wafc h2be\" id=\"_2ca74120-0cb7-4aa7-b0e3-ed117b59214c\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y627e ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y627e ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y6280 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y6280 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y6280 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y6280 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y6281 wafd h267\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 6<span class=\"_ _0\"></span>) Limited (formerly k<span class=\"_ _0\"></span>nown as<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Life C<span class=\"_ _2\"></span>A Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed8 y6281 wa9d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed9 y6281 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6281 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6282 wafd h267\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 7<span class=\"_ _0\"></span>) Limited (forme<span class=\"_ _0\"></span>rly known as<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">PGH CA Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d) (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1edc y6282 wafe h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1edb h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6282 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6282 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6283 ff2 fs6 fc3 sc0 ls17f ws1\">PGH CA Lim<span class=\"_ _0\"></span>ited (f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rmerly know<span class=\"_ _0\"></span>n as Sun Life of Cana<span class=\"_ _0\"></span>da </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6284 waff h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">UK Holdings Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ede y6284 wb00 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Hampsh<span class=\"_ _0\"></span>ire</div><div class=\"t m0 x1edd h11 y5b82 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6284 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wb01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGL Pen<span class=\"_ _0\"></span>sion T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ee0 y6285 wb02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x1edf h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ee1 y6285 w532 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited by G<span class=\"_ _0\"></span>uarantee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee2 y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6286 wb03 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Glasg<span class=\"_ _0\"></span>ow<span class=\"_ _2\"></span>) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee3 y6286 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ee4 y6286 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee5 y6286 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6287 wb04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Irelan<span class=\"_ _0\"></span>d) Holding<span class=\"_ _0\"></span>s Unlimited C<span class=\"_ _0\"></span>ompany (ho<span class=\"_ _0\"></span>lding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ee7 y6287 wb05 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x1ee6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e80 y6287 wabd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d with Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e81 y6287 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wb06 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGS 2 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee8 y6288 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd67 y6288 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee9 y6288 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wb07 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix &amp; London Assurance Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eea y6250 wa83 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed9 y6250 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6289 wb08 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Bar<span class=\"_ _0\"></span>well<span class=\"_ _2\"></span> 2) Limited (dormant<span class=\"_ _2\"></span> com<span class=\"_ _0\"></span>pan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eeb y6289 waad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eec y6289 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eed y6289 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wb09 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Chiswick House) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eee y628a wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eef y628a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef0 y628a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wb0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Moor H<span class=\"_ _0\"></span>ouse 1) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef1 y628b waad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef2 y628b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1046 y628b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wb0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Moor H<span class=\"_ _0\"></span>ouse 2)<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef3 y628c wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef4 y628c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef5 y628c wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628d wb0b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Printworks) Li<span class=\"_ _2\"></span>mited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef6 y628d wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef7 y628d wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef8 y628d w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wb0c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Stockley Park) Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea9 y628e wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y628e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y628e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wb0d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Advisers Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef9 y628f wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y628f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y628f w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6290 wb0e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix AW<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e98 y6290 wad9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6290 wa84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6290 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 waa6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Custo<span class=\"_ _0\"></span>mer Care Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ancial se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed5 y6291 wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed6 y6291 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efc y6291 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wb0f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix ER1 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efd y6292 wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efe y6292 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eff y6292 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wb10 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER2 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fina<span class=\"_ _0\"></span>nce comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f00 y6293 wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f01 y6293 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f02 y6293 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6294 wb0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix ER3 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f03 y6294 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f04 y6294 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f05 y6294 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wb11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER4 Limited (financ<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e79 y6295 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f06 y6295 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f07 y6295 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6296 wb10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER5 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f00 y6296 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f01 y6296 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f02 y6296 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6297 wb12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER6 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f08 y6297 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f09 y6297 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f0a y6297 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6298 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group CA S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (formerl<span class=\"_ _0\"></span>y known </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6299 wb13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as S<span class=\"_ _0\"></span>LFC<span class=\"_ gs47\"> </span>Ser<span class=\"_ _0\"></span>vices<span class=\"_ gs47\"> </span>C<span class=\"_ _0\"></span>ompany<span class=\"_ gs47\"> </span>(UK<span class=\"_ _0\"></span>)<span class=\"_ gs47\"> </span>Limited)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f0c y6299 wb14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ham<span class=\"_ _0\"></span>pshire</div><div class=\"t m0 x1f0b h11 y5b56 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6299 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6299 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y629a wb15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group Empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Benefit T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f0e y629a wb16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x1f0d h11 y5b9e ff2 fs9 fc3 sc0 ls1fc ws21a\">51<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f0f y629a wb17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Tr<span class=\"_ _0\"></span>u<span class=\"_ _1\"></span>s<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f10 y629a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y629b ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group H<span class=\"_ _0\"></span>oldings (B<span class=\"_ _0\"></span>ermuda) Limite<span class=\"_ _0\"></span>d (holding </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y629c wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">comp<span class=\"_ _0\"></span>any \u2013 directly ow<span class=\"_ _0\"></span>ned by the C<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f12 y629c wb18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f11 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6265 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6265 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x555 hc y629d ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y629e ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group H<span class=\"_ _0\"></span>oldings (non-tr<span class=\"_ _0\"></span>ading comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"c x1f14 y629f wb19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x1f13 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f15 y629f wb1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f16 y629f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a0 wb1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group M<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent Ltd (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef9 y62a0 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y62a0 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y62a0 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a1 wb1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Holdin<span class=\"_ _0\"></span>gs (Berm<span class=\"_ _0\"></span>uda) Limited (h<span class=\"_ _0\"></span>olding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f18 y62a1 wb1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f17 h11 y5b9e ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62a1 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62a1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a2 wb1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Assur<span class=\"_ _0\"></span>ance Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f19 y62a2 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1a y62a2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1b y62a2 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62a3 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life CA Holding<span class=\"_ _0\"></span>s Limited (formerly k<span class=\"_ _0\"></span>nown as SLF of C<span class=\"_ _0\"></span>anada </td><td></td><td></td><td></td><td class=\"t m0 xb60 hc y62a4 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62a5 wb1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">UK Limite<span class=\"_ _0\"></span>d) (holdin<span class=\"_ _0\"></span>g company \u2013 dire<span class=\"_ _0\"></span>ctly owne<span class=\"_ _0\"></span>d by the Comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f1d y62a5 wb20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">H<span class=\"_ _0\"></span>ampshire</div><div class=\"t m0 x1f1c h11 y5b56 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"t m0 x679 hc y62a6 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y62a7 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Holding<span class=\"_ _0\"></span>s Limited (ho<span class=\"_ _0\"></span>lding comp<span class=\"_ _0\"></span>any </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62a8 wb21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">\u2013 direc<span class=\"_ _0\"></span>tly owned by th<span class=\"_ _0\"></span>e Company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1e y62a8 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1f y62a8 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f20 y62a8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62a9 ff2 fs6 fc3 sc0 ls13 ws11\">Phoenix<span class=\"_ _2\"></span> Management Services Holdi<span class=\"_ _2\"></span>ngs </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ada wb22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">(Be<span class=\"_ _0\"></span>rmuda) Limited (h<span class=\"_ _0\"></span>olding com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f22 y5ada wb23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f21 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62aa wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62aa w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adb wb24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Pension Scheme (<span class=\"_ _0\"></span>T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>) Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f23 y5adb wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f24 y5adb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f25 y5adb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wb25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Pensions T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Services Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f26 y62ab wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f27 y62ab wb26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f28 y62ab w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ac wb27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix SCP Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f29 y62ac waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y62ac wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y62ac w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ad wb28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SCP Pen<span class=\"_ _0\"></span>sions T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s Limited (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e36 y62ad wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y62ad wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y62ad w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ade wb29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SCP T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stees Limi<span class=\"_ _0\"></span>ted (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2a y5ade wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y5ade wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y5ade w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wb2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SL Dire<span class=\"_ _0\"></span>ct Limited (do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e70 y62ae wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e71 y62ae wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2b y62ae w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wb2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV1 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2c y62af wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f2d y62af wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2e y62af w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b0 wb2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV2 Limite<span class=\"_ _0\"></span>d (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2f y62b0 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f04 y62b0 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f05 y62b0 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae1 wb2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV3 Limite<span class=\"_ _0\"></span>d (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f30 y5ae1 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f31 y5ae1 wb26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f32 y5ae1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e14 wb2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV<span class=\"_ _2\"></span>4 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f33 y5e14 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f34 y5e14 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f35 y5e14 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e15 wb2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix UL<span class=\"_ _0\"></span>A L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f36 y5e15 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea7 y5e15 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea8 y5e15 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e18 wb2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Manag<span class=\"_ _0\"></span>ers Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>unit t<span class=\"_ _0\"></span>rust man<span class=\"_ _0\"></span>ager)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e73 y5e18 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y5e18 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y5e18 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wb30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth Hol<span class=\"_ _0\"></span>dings Limited (<span class=\"_ _0\"></span>holding co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f37 y5ae5 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f38 y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f39 y5ae5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 wb31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (financ<span class=\"_ _0\"></span>ial ser<span class=\"_ _0\"></span>vices c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3a y5b29 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f3b y5b29 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3c y5b29 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 wb32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee Ser<span class=\"_ _0\"></span>vices Lim<span class=\"_ _0\"></span>ited (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed2 y5b06 waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed3 y5b06 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed4 y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wb33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pilang<span class=\"_ _0\"></span>en Logis<span class=\"_ _0\"></span>tik AB (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3d y5b2a wb34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">S<span class=\"_ _0\"></span>to<span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>k<span class=\"_ _0\"></span>ho<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>m\u00b9\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1694 y5b2a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3e y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wb35 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pilang<span class=\"_ _0\"></span>en Logis<span class=\"_ _0\"></span>tik I AB (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3f y5a16 wb36 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">S<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>oc<span class=\"_ _0\"></span>k<span class=\"_ _0\"></span>h<span class=\"_ _0\"></span>ol<span class=\"_ _0\"></span>m\u00b9\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e63 y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y5a16 wa89 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wb37 h2bf\" id=\"_99a8917b-b7ce-431a-9bd9-16127a98d566\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y62b3 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y62b3 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62b4 wb38 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Comp<span class=\"_ _0\"></span>anies Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f41 y62b4 wb39 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f40 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b4 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b4 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b5 wb3a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure FS Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f43 y62b5 wb3b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f42 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b5 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b5 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b6 wb3c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure FSH U<span class=\"_ _0\"></span>K Limited (hol<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f45 y62b6 wb3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f44 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b6 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b6 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6284 wb3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws144\">ReAs<span class=\"_ _0\"></span>sure Group pl<span class=\"_ _0\"></span>c (holding co<span class=\"_ _0\"></span>mpany \u2013 direc<span class=\"_ _0\"></span>tly owned by th<span class=\"_ _0\"></span>e Company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e6f y6284 waaf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e6e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6284 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wb3f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Life Pension T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xd2d y6285 wb40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f46 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6285 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b7 wb41 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure LL Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xd2d y62b7 wb40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f46 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b7 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b7 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6287 wb42 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Midc<span class=\"_ _0\"></span>o Li<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ited (holdin<span class=\"_ _0\"></span>g company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x11f5 y6287 wb43 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f47 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6287 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6287 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wb44 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Nomin<span class=\"_ _0\"></span>ees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>dor<span class=\"_ _0\"></span>mant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f49 y6288 wb45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f48 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6288 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6288 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wb46 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">ReAssure Pension T<span class=\"_ _4\"></span>ruste<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4b y6250 wb47 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4a h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6250 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wb48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure PM Limited (dorm<span class=\"_ _0\"></span>ant compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4d y6252 wb49 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6252 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wb4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustees Lim<span class=\"_ _0\"></span>ited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4f y628a wb4b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wb4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure T<span class=\"_ _4\"></span>wo Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f41 y628b wb39 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f40 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wb4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure UK Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Company Limite<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1515 y628c wb4e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f50 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628c w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b8 wb4f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Scot<span class=\"_ _0\"></span>tish Mutual Assurance Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f51 y62b8 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f52 y62b8 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4f y62b8 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wb50 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Scot<span class=\"_ _0\"></span>tish Mutual Nominees Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f53 y628e wb51 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f54 y628e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f55 y628e wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wb52 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>ottish M<span class=\"_ _0\"></span>utual Pensi<span class=\"_ _0\"></span>on F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds Investm<span class=\"_ _0\"></span>ent Limited (trus<span class=\"_ _0\"></span>tee compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f56 y628f wb51 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f57 y628f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f58 y628f wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b9 wb53 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL (<span class=\"_ _0\"></span>NEWCO) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e62 y62b9 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y62b9 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y62b9 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 wb54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">SL Liverpool Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f59 y6291 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f5a y6291 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f5b y6291 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wb55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Belg<span class=\"_ _0\"></span>ium No.1 SA (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f5d y6292 wb56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Brus<span class=\"_ _0\"></span>sels</div><div class=\"t m0 x1f5c h11 y5a78 ff2 fs9 fc3 sc0 ls1fd ws21b\">10<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f5e y6292 wb57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Soci\u00e9t\u00e9 Anonyme<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea2 y6292 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wb58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Denm<span class=\"_ _0\"></span>ark No.1 ApS (inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f5f y6293 wb59 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Copenh<span class=\"_ _0\"></span>agen<span class=\"_ _2\"></span>\u00b9\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f60 y6293 wa84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f61 y6293 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ba wb5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Denm<span class=\"_ _0\"></span>ark No.<span class=\"_ _0\"></span>2 ApS (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f62 y62ba wb5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">C<span class=\"_ _0\"></span>openhagen\u00b9<span class=\"_ _2\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f63 y62ba wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f64 y62ba w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wb5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A France S<span class=\"_ _0\"></span>CI (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f66 y6295 wb5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f65 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6295 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6295 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6296 wb5e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.1 S.\u00e0<span class=\"_ _0\"></span>.r<span class=\"_ _2\"></span>.l. (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xde6 y6296 wb5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x1f67 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6296 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6296 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6297 wb60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.2 S<span class=\"_ _0\"></span>.\u00e0.<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>l. (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f69 y6297 wb61 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f68 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6297 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6297 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bb wb60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.3 S<span class=\"_ _0\"></span>.\u00e0.<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>l. (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f69 y62bb wb61 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f68 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62bb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62bb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bc wb62 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Nethe<span class=\"_ _0\"></span>rlands No<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 B<span class=\"_ _0\"></span>.<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>. (investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6a y62bc wb63 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Amster<span class=\"_ _2\"></span>dam<span class=\"_ _2\"></span>\u00b9\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f6b y62bc wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6c y62bc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bd wb64 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>OM (No. 8<span class=\"_ _0\"></span>) L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited (dormant co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6d y62bd wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f6e y62bd wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6f y62bd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62be wb65 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>OM (No. 9<span class=\"_ _0\"></span>) Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f70 y62be wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f71 y62be wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f72 y62be w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bf w967 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>COM (No. 1<span class=\"_ _0\"></span>0)<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f73 y62bf wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f74 y62bf wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f75 y62bf w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c0 ff2 fs6 fc3 sc0 ls17f ws1\">SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment G<span class=\"_ _0\"></span>P Limited (Gen<span class=\"_ _0\"></span>eral </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c1 wb66 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Par<span class=\"_ _0\"></span>tner to SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f51 y62c1 wb67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1f76 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62c1 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62c1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c2 wb68 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Agency Ser<span class=\"_ _0\"></span>vices Limi<span class=\"_ _2\"></span>ted (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f77 y62c2 wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ecd y62c2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ece y62c2 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c3 wb69 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>ets and Emp<span class=\"_ _0\"></span>loyee Ser<span class=\"_ _0\"></span>vices Lim<span class=\"_ _0\"></span>ited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f78 y62c3 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3c y62c3 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3d y62c3 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c4 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>urance (H<span class=\"_ _0\"></span>WPF) Luxe<span class=\"_ _0\"></span>mbourg </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c5 wb6a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">S<span class=\"_ _0\"></span>.\u00e0.r.l. (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f7a y62c5 wb6b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x1f79 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62c5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62c5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c6 wb6c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Finan<span class=\"_ _0\"></span>cial Advice S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x384 y62c6 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7b y62c6 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y62c6 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c7 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Group Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>form<span class=\"_ _0\"></span>erly known </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c8 wb6d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as Pho<span class=\"_ _0\"></span>enix Group C<span class=\"_ _0\"></span>apital Limite<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7d y62c8 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7e y62c8 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7f y62c8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623a wb6e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life In<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f80 y623a wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f81 y623a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f82 y623a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623c wb6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Lifetime Mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es Limited (mor<span class=\"_ _0\"></span>tga<span class=\"_ _0\"></span>ge provider c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f83 y623c wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y623c wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y623c w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c9 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life L<span class=\"_ _2\"></span>imited (formerly known as L<span class=\"_ _2\"></span>ondon </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62ca wb70 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Life<span class=\"_ _2\"></span> Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f84 y62ca wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f85 y62ca wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f86 y62ca wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623f wb71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Master T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span> C<span class=\"_ _0\"></span>o.<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6b y623f waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y623f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y623f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cb wb72 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Mortgag<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f87 y62cb waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y62cb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y62cb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6274 wb73 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Pension Funds Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f88 y6274 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f89 y6274 wb74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lim<span class=\"_ _0\"></span>ited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8a y6274 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cc wb75 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life P<span class=\"_ _2\"></span>rope<span class=\"_ _0\"></span>rty C<span class=\"_ _0\"></span>ompany<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8b y62cc wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y62cc wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y62cc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cd wb71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life T<span class=\"_ _4\"></span>rustee Comp<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span>y Limited (t<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ustee company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8c y62cd wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f8d y62cd wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8e y62cd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ce wb76 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sun<span class=\"_ _0\"></span>Life L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited (financia<span class=\"_ _0\"></span>l serv<span class=\"_ _0\"></span>ices dist<span class=\"_ _0\"></span>ribution com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8f y62ce wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7b y62ce wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y62ce wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62cf ff2 fs6 fc3 sc0 ls17f ws1\">The H<span class=\"_ _0\"></span>eritable S<span class=\"_ _0\"></span>ecuri<span class=\"_ _0\"></span>ties and Mo<span class=\"_ _0\"></span>rtga<span class=\"_ _0\"></span>ge Investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62d0 wb77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Asso<span class=\"_ _0\"></span>ciation<span class=\"_ _2\"></span> Ltd (<span class=\"_ _2\"></span>dorm<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span>t company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f90 y62d0 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1a y62d0 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1b y62d0 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d1 wb78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">The London Lif<span class=\"_ _2\"></span>e As<span class=\"_ _0\"></span>sociation Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f91 y62d1 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f92 y62d1 wb79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limite<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y G<span class=\"_ _0\"></span>uarantee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f93 y62d1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d2 wb7a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The Path<span class=\"_ _0\"></span>e Building Ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>any Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f95 y62d2 wb7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f94 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62d2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62d2 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d3 wb7c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The Ph<span class=\"_ _0\"></span>oenix Life SC<span class=\"_ _0\"></span>P Instit<span class=\"_ _0\"></span>ution (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f96 y62d3 wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f97 y62d3 wb74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lim<span class=\"_ _0\"></span>ited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y62d3 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c39 wb7d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The S<span class=\"_ _0\"></span>cott<span class=\"_ _0\"></span>ish Mutua<span class=\"_ _0\"></span>l Assura<span class=\"_ _0\"></span>nce So<span class=\"_ _0\"></span>ciety (dor<span class=\"_ _0\"></span>mant compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f98 y5c39 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f99 y5c39 wb7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y5c39 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62d4 ff2 fs6 fc3 sc0 ls17f ws1\">The St<span class=\"_ _0\"></span>andard Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Company of Europ<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a15 wb7f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">B.<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>. (<span class=\"_ _2\"></span>finan<span class=\"_ _0\"></span>cial<span class=\"_ _2\"></span> hol<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span>ing company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f9a y5a15 wb80 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Amsterdam<span class=\"_ _2\"></span>\u00b9\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed0 y5a15 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y5a15 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wb81 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ebn<span class=\"_ _0\"></span>et (Holdin<span class=\"_ _0\"></span>gs) Limited (ho<span class=\"_ _0\"></span>lding compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7d y5a16 wa83 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7e y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7f y5a16 w687 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wb82 h2c0\" id=\"_2a0eba0c-6fe1-4d68-94cd-32f6d037fa95\"><tr><td></td><td></td><td class=\"t m0 x1f9b h29 y62d5 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 xd04 h29 y62d5 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1251 h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x1f9c h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x1f9d h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x941 h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x6bc h29 y62d7 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1f9e h29 y62d7 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3be h29 y62d7 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 h29 y62d7 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y62d8 wb83 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ebn<span class=\"_ _0\"></span>et Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f9f y62d8 wb84 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fa0 y62d8 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa1 y62d8 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62d9 wb85 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Welbrent Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Investm<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>any Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1fa3 y62d9 wb86 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fa2 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fa4 y62d9 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa5 y62d9 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62da wb87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws13\">ESP General P<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>tner<span class=\"_ _2\"></span> Limit<span class=\"_ _2\"></span>ed Partnership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fa7 y62da wb88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fa6 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62da wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62da w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62db wb8a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ESP I<span class=\"_ _0\"></span>I Gene<span class=\"_ _0\"></span>ral Partn<span class=\"_ _0\"></span>er Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1faa y62db wb8b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x1fa9 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62db wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62db w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62dc wb8c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Europe<span class=\"_ _0\"></span>an Strategi<span class=\"_ _0\"></span>c P<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>rtne<span class=\"_ _0\"></span>rs LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fac y62dc wb8d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fab h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62dc wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fad y62dc wb8e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">72.70<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62dd wb8f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Patria Pho<span class=\"_ _0\"></span>enix Glob<span class=\"_ _0\"></span>al Private Equit<span class=\"_ _0\"></span>y III LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1faf y62dd wb90 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fae h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62dd wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62dd w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62de wb91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Highvis<span class=\"_ _0\"></span>ta V<span class=\"_ _2\"></span>enture C<span class=\"_ _0\"></span>apital Par<span class=\"_ _0\"></span>tners LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb1 y62de wb92 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">Bos<span class=\"_ _0\"></span>ton</div><div class=\"t m0 x1fb0 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62de wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62de w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62df wb93 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 wsd\">Pearl Private E<span class=\"_ _2\"></span>quit<span class=\"_ _0\"></span>y LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb3 y62df wb94 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1fb2 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62df wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62df w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e0 wb95 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Str<span class=\"_ _0\"></span>ategic Cred<span class=\"_ _0\"></span>it LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb5 y62e0 wb96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x1fb4 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62e0 wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62e0 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e1 wb97 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb7 y62e1 wb98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1fb6 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62e1 wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62e1 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62e2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Global F<span class=\"_ _2\"></span>unds \u2013 Janus Hen<span class=\"_ _0\"></span>derson </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62e3 wb99 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ins<span class=\"_ _0\"></span>titutiona<span class=\"_ _0\"></span>l Overs<span class=\"_ _0\"></span>eas Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb9 y62e3 wb9a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fb8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62e4 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y62e4 wb9c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls14 ws1e\">99.<span class=\"_ _0\"></span>28%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e5 wb9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Ins<span class=\"_ _0\"></span>titution<span class=\"_ _0\"></span>al High Alph<span class=\"_ _0\"></span>a UK Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb9 y62e5 wb9a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fb8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e5 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbd y62e5 wb9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">92.<span class=\"_ _0\"></span>50%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e6 wba0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Mainstream UK Equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fbf y62e6 wba1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fbe h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e6 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e6 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e7 wba2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Shor<span class=\"_ _0\"></span>t Duration Bond F<span class=\"_ _2\"></span>und<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc2 y62e7 wba3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc1 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e7 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e7 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e8 wba4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional UK Equity T<span class=\"_ _2\"></span>racker T<span class=\"_ _4\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc4 y62e8 wba5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc3 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e8 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e8 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62e9 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus Hender<span class=\"_ _0\"></span>son </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ea wba6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ins<span class=\"_ _0\"></span>titutiona<span class=\"_ _0\"></span>l Asia Pacific ex J<span class=\"_ _0\"></span>apan Index O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc6 y62ea wba7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc5 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ea wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y62ea wba8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">9<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>.04%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62eb ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ec wba9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Hender<span class=\"_ _0\"></span>son Institutional Japan Index Oppor<span class=\"_ _0\"></span>tuniti<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc9 y62ec wbaa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ec wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fca y62ec wbab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">86.39%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62ed ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus Hender<span class=\"_ _0\"></span>son </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ee wbac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 wsd\">Instit<span class=\"_ _0\"></span>utional North Am<span class=\"_ _0\"></span>erican Index Oppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fcc y62ee wbad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fcb h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ef wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y62ef wbae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">80.6<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f0 wbaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS A<span class=\"_ _0\"></span>sia Pacific ex Jap<span class=\"_ _0\"></span>an Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fcd y62f0 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fce y62f0 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cb y62f0 wbb1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f1 wbb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Em<span class=\"_ _0\"></span>erging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fcf y62f1 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd0 y62f1 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd1 y62f1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f2 wbb4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Europ<span class=\"_ _0\"></span>ean ex UK Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd2 y62f2 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5 y62f2 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd3 y62f2 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f3 wbb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd4 y62f3 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd5 y62f3 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd6 y62f3 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f4 wbb6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n European E<span class=\"_ _0\"></span>x UK Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd7 y62f4 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd8 y62f4 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd9 y62f4 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f5 wbb8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n Nort<span class=\"_ _0\"></span>h America<span class=\"_ _0\"></span>n Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd2 y62f5 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5 y62f5 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd3 y62f5 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f6 wbb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n UK Gilt Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fda y62f6 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdb y62f6 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdc y62f6 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f7 wbbb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n UK Listed S<span class=\"_ _0\"></span>maller C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fdd y62f7 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fde y62f7 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdf y62f7 wbbc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ff ws21d\">99.99%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f8 wbbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe0 y62f8 wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe1 y62f8 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y62f8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f9 wbbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican 2 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe2 y62f9 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe3 y62f9 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec7 y62f9 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fa wbbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican 3 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe2 y62fa wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe3 y62fa wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe4 y62fa w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fb wbc0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Ste<span class=\"_ _0\"></span>rling Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe5 y62fb wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe6 y62fb wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62fb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fc wbc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index A<span class=\"_ _0\"></span>sia Pacific ex Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe8 y62fc wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe9 y62fc wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fea y62fc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fd wbc2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index Em<span class=\"_ _0\"></span>erging M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1feb y62fd wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fec y62fd wbc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y62fd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fe wbc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index Euro<span class=\"_ _0\"></span>pean Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fee y62fe wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fef y62fe wbc5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62fe w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ff wbc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index J<span class=\"_ _0\"></span>apan Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff1 y62ff wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y62ff wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y62ff w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6300 wbc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index U<span class=\"_ _0\"></span>K Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff1 y6300 wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y6300 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y6300 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6301 wbc8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index U<span class=\"_ _0\"></span>S Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff3 y6301 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y6301 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y6301 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62aa wbc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS U<span class=\"_ _0\"></span>K All Share Lis<span class=\"_ _0\"></span>ted Equit<span class=\"_ _0\"></span>y Multi Ma<span class=\"_ _0\"></span>nager Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff4 y62aa wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff5 y62aa wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff6 y62aa wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6302 wbca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS US D<span class=\"_ _0\"></span>ollar Credi<span class=\"_ _0\"></span>t F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff7 y6302 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff8 y6302 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y6302 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wbcb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Asia Pac<span class=\"_ _0\"></span>ific (Excl<span class=\"_ _0\"></span>uding Japan) Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff9 y62ab wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffa y62ab wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffb y62ab w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ac wbcc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Emergin<span class=\"_ _0\"></span>g Market Debt Un<span class=\"_ _0\"></span>constr<span class=\"_ _0\"></span>ained Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffc y62ac wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffd y62ac wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62ac w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ad wbcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Emergin<span class=\"_ _0\"></span>g Markets Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffe y62ad wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fff y62ad wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62ad w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6303 wbce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Euro Sovereig<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2000 y6303 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2001 y6303 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6303 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wbcf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Europea<span class=\"_ _0\"></span>n Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2002 y62ae wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2003 y62ae wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2004 y62ae w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wbd0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Floating R<span class=\"_ _0\"></span>ate ABS Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffc y62af wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffd y62af wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62af w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b0 wbd1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Globa<span class=\"_ _0\"></span>l Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffe y62b0 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fff y62b0 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62b0 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6304 wbd2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Globa<span class=\"_ _0\"></span>l Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2005 y6304 wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2006 y6304 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6304 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e14 wbd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Index-<span class=\"_ _0\"></span>Link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Sterling He<span class=\"_ _0\"></span>dged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2007 y5e14 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2008 y5e14 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y5e14 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e15 wb0b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Long Gilt Ste<span class=\"_ _0\"></span>rling Hed<span class=\"_ _0\"></span>ged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2009 y5e15 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200a y5e15 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff6 y5e15 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e18 wbd4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Shor<span class=\"_ _0\"></span>t Dur<span class=\"_ _0\"></span>ation Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200b y5e18 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200c y5e18 wbd5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200d y5e18 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e1a wbd6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sterling Cre<span class=\"_ _0\"></span>dit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200e y5e1a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200f y5e1a wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y5e1a wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 wbd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sterling G<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnment Bon<span class=\"_ _0\"></span>d Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2010 y5b29 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200f y5b29 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y5b29 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 w9c9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sub-S<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>reign A Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2000 y5b06 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2001 y5b06 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wbd8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell T<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>ctical A<span class=\"_ _0\"></span>sset Allo<span class=\"_ _0\"></span>cation Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2011 y5b2a wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2006 y5b2a wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wbd9 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Uk Equit<span class=\"_ _0\"></span>y Incom<span class=\"_ _0\"></span>e Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2012 y5a16 wadf h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2013 y5a16 wbba h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2014 y5a16 wa89 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wbda h2bf\" id=\"_66174a3b-54c2-41ab-bc6c-f4f3a7d78229\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y62b3 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y62b3 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62b4 wbdb h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Ultra S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>uration Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x34d y62b4 wad9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2015 y62b4 wbba h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y62b4 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b5 wbdc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM Far E<span class=\"_ _0\"></span>astern U<span class=\"_ _0\"></span>nit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200b y62b5 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2016 y62b5 wbc5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2017 y62b5 wbdd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>70%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b6 wbde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K All-Share In<span class=\"_ _0\"></span>dex Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2018 y62b6 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2015 y62b6 wbba h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y62b6 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6284 wbdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K Stock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x3db y6284 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2019 y6284 wbb7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wbe0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K Stock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Fund (S<span class=\"_ _0\"></span>eries 3)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x201a y6285 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201b y6285 wbc5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201c y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b7 wbe1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di MSCI Ch<span class=\"_ _0\"></span>ina ESG Lead<span class=\"_ _0\"></span>ers Se<span class=\"_ _0\"></span>lect<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x201d y62b7 wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3c y62b7 wbe3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201e y62b7 wbe4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5f ws122\">63.46<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6305 wbe5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">iSha<span class=\"_ _0\"></span>res 350 U<span class=\"_ _0\"></span>K Equit<span class=\"_ _0\"></span>y Index Fund UK<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2020 y6305 wbe6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x201f h11 y5b82 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6287 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6287 wbe7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wbe8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">iSha<span class=\"_ _0\"></span>res Bloom<span class=\"_ _0\"></span>berg Roll Se<span class=\"_ _0\"></span>lect C<span class=\"_ _0\"></span>ommodit<span class=\"_ _0\"></span>y Strate<span class=\"_ _0\"></span>gy ET<span class=\"_ _0\"></span>F<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2024 y6288 wbe9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Wilmingto<span class=\"_ _0\"></span>n</div><div class=\"t m0 x2023 h11 y5a78 ff2 fs9 fc3 sc0 ls202 ws220\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6288 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6288 wbea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15a ws163\">5<span class=\"_ _2\"></span>1.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wbeb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroders (<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure Growth C<span class=\"_ _0\"></span>apital) U<span class=\"_ _0\"></span>K Private Ass<span class=\"_ _0\"></span>ets L<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>AF<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2026 y6250 wbec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2025 h11 y5b82 ff2 fs9 fc3 sc0 ls203 ws221\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6250 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wbed h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroders (<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure Growth C<span class=\"_ _0\"></span>apital) Gl<span class=\"_ _0\"></span>obal Private As<span class=\"_ _0\"></span>sets L<span class=\"_ _2\"></span>T<span class=\"_ _4\"></span>AF<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2029 y6252 wbee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2028 h11 y5b82 ff2 fs9 fc3 sc0 ls203 ws221\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6252 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wbef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">abrdn (Lo<span class=\"_ _2\"></span>thian) International T<span class=\"_ _4\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y628a wbf0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628a wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y628a wbf1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ff ws21d\">99.99<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wbf2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">abrdn (Lo<span class=\"_ _2\"></span>thian) Japan T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202e y628b wbf3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202d h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628b wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y628b wbf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wbf5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) North A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2031 y628c wbf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2030 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628c wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628c wbf7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">98.33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b8 wbf8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) P<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>cific Basin T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2034 y62b8 wbf9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2033 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628d wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628d wbfa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls14 ws1e\">98<span class=\"_ _0\"></span>.28%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wbfb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) UK Equit<span class=\"_ _0\"></span>y Gener<span class=\"_ _0\"></span>al T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2036 y628e wbfc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2035 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628e wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628e wbdd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>70%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wbfd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets I<span class=\"_ _0\"></span>ncome Equi<span class=\"_ _0\"></span>ty Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2038 y628f wbfe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x2037 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y628f wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y628f wbff h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">75.<span class=\"_ _0\"></span>56%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b9 wc00 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e Ex UK Eth<span class=\"_ _0\"></span>ical Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203b y62b9 wc01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203a h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62b9 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62b9 wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">8<span class=\"_ _0\"></span>0.3<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 wc03 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn MT A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Un<span class=\"_ _0\"></span>constr<span class=\"_ _0\"></span>ained Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y6291 wc04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6291 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x203e y6291 wc05 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">72.7<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wc06 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed I Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2040 y6292 wc07 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203f h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6292 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6292 wc08 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">78<span class=\"_ _0\"></span>.33<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wc09 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2042 y6293 wc0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2041 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6293 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6293 wc0b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">79.02%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ba wc0c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed II<span class=\"_ _0\"></span>I F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2045 y62ba wc0d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2044 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62ba wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62ba wc0e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls10 ws10\">8<span class=\"_ _0\"></span>6.29%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wc0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed V Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2047 y6295 wc10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x2046 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6295 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2048 y6295 wc11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">79.31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x246 hc y6306 ff2 fs6 fc3 sc0 ls1 ws1\">Sp<span class=\"_ _0\"></span>ecial Limite<span class=\"_ _0\"></span>d </td><td></td></tr><tr><td class=\"c n x1d4 y6307 wc12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ph<span class=\"_ _0\"></span>oenix Fund Fin<span class=\"_ _0\"></span>ancing S<span class=\"_ _0\"></span>CSP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x204a y6307 wc13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2049 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204b y6307 wc14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Partn<span class=\"_ _0\"></span>ership<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204c y6307 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6308 wc15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Glob<span class=\"_ _0\"></span>al Corpo<span class=\"_ _0\"></span>rate Bond T<span class=\"_ _2\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x204e y6308 wc16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x204d h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6261 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204f y6261 wc17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">9<span class=\"_ _0\"></span>5.61%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6299 waf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Sterling C<span class=\"_ _0\"></span>orpor<span class=\"_ _0\"></span>ate Bond T<span class=\"_ _2\"></span>racker Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2051 y6299 wc18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2050 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6299 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2052 y6299 wc19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls130 ws135\">84.86%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y629a wc1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Euro Liqui<span class=\"_ _0\"></span>dity 1 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2054 y629a wc1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2053 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y629a wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2055 y629a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6309 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Ster<span class=\"_ _0\"></span>ling Liquidit<span class=\"_ _0\"></span>y <span class=\"ls1\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6265 wc1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">2 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1145 y6265 wc1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2056 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6265 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2055 y6265 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y630a ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Ster<span class=\"_ _0\"></span>ling Liquidit<span class=\"_ _0\"></span>y <span class=\"ls1\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y629f wc1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">3 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1145 y629f wc1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2056 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y630b wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2057 y630b w449 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls170 ws142\">86.85%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a0 wc1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2059 y62a0 wc20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2058 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62a0 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62a0 wc02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">5<span class=\"_ _0\"></span>9.0<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a1 wc21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index World Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x205b y62a1 wc22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x205a h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y62a1 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205c y62a1 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">72.<span class=\"_ _0\"></span>57%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630c wc23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Real Es<span class=\"_ _0\"></span>tate Feed<span class=\"_ _0\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2034 y630c wbf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2033 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y630c wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205d y630c wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">7<span class=\"_ _0\"></span>2.12<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630d wc25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Real Es<span class=\"_ _0\"></span>tate Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x205f y630d wc26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x205e h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y630d wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205c y630d w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">8<span class=\"_ _0\"></span>9.91%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630e wc27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">HS<span class=\"_ _0\"></span>BC Investm<span class=\"_ _0\"></span>ent Funds \u2013 Balan<span class=\"_ _0\"></span>ced Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2061 y630e wc28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2060 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y630e wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2048 y630e wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">78.<span class=\"_ _0\"></span>31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x59b hc y630f ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y6310 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Private Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d LP<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x2063 y6311 wc2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x2062 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6311 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6311 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x59b hc y6312 ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y6313 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic C<span class=\"_ _0\"></span>redit Fund LP<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x2063 y6314 wc2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x2062 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6315 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6315 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6316 wc2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds plc \u2013 Fundame<span class=\"_ _0\"></span>ntal Strate<span class=\"_ _0\"></span>gies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2066 y6316 wc2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2065 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6316 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6316 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6317 wc2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds plc \u2013 System<span class=\"_ _0\"></span>atic Strateg<span class=\"_ _0\"></span>ies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2068 y6317 wc2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2067 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6317 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6317 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6318 wc2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Nor<span class=\"_ _0\"></span>th Amer<span class=\"_ _0\"></span>ican Strate<span class=\"_ _0\"></span>gic Par<span class=\"_ _0\"></span>tners (Fe<span class=\"_ _0\"></span>eder) 20<span class=\"_ _0\"></span>08 Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x206a y6318 wc30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x2069 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6318 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6318 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6319 wc31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al European Equit<span class=\"_ _0\"></span>y Inc<span class=\"_ _0\"></span>ome Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x206b y6319 wc32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x206c y6319 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x206d y6319 wbe7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6242 wc33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Nor<span class=\"_ _0\"></span>th Amer<span class=\"_ _0\"></span>ican Strate<span class=\"_ _0\"></span>gic Par<span class=\"_ _0\"></span>tners 20<span class=\"_ _0\"></span>08 L.<span class=\"_ _0\"></span>P<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x206f y6242 wc34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Delaware</div><div class=\"t m0 x206e h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6242 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6242 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6243 wc35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Par<span class=\"_ _0\"></span>tners Gro<span class=\"_ _0\"></span>up Phoeni<span class=\"_ _0\"></span>x, L.<span class=\"_ _0\"></span>P<span class=\"_ _4\"></span>. Inc<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2071 y6243 wc36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Guernsey</div><div class=\"t m0 x2070 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6243 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6243 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6244 wc37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors G<span class=\"_ _0\"></span>lobal Dy<span class=\"_ _0\"></span>namic Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2072 y6244 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2073 y6244 wc39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2074 y6244 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">8<span class=\"_ _0\"></span>3.31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x246 hc y631a ff2 fs6 fc3 sc0 ls1 ws1\">Sp<span class=\"_ _0\"></span>ecial Limite<span class=\"_ _0\"></span>d </td><td></td></tr><tr><td class=\"c n x1d4 y5ae1 wc3a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stone<span class=\"_ _0\"></span>peak Co<span class=\"_ _0\"></span>re F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d (Lux) SC<span class=\"_ _0\"></span>Sp<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2076 y5ae1 wc3b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2075 h11 y5b56 ff2 fs9 fc3 sc0 ls205 ws223\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204b y5ae1 wc14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Partn<span class=\"_ _0\"></span>ership<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2077 y5ae1 wc3c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">8<span class=\"_ _0\"></span>3.30%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y631b ff3 fs6 fc3 sc0 ls77 ws34\">Asso<span class=\"_ _0\"></span>ciates:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae4 wc3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Future Grow<span class=\"_ _0\"></span>th Capit<span class=\"_ _0\"></span>al (Holdin<span class=\"_ _0\"></span>gs) Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x2079 y5ae4 wc3e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2078 h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5e18 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207a y5e18 wc3f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">49.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wc40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Future Grow<span class=\"_ _0\"></span>th Capit<span class=\"_ _0\"></span>al Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x207c y5ae5 wc41 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x207b h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207a y5ae5 wc3f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">49.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y631c ff3 fs6 fc3 sc0 lsd ws122\">Significant holdings:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b2a wc42 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">AB S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 D<span class=\"_ _0\"></span>iversifie<span class=\"_ _0\"></span>d Yield Plus Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1bef y5b2a wc43 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x207d h11 y5b9e ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5b2a wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207e y5b2a wc45 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">4<span class=\"_ _0\"></span>3.09<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wc46 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">AB S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able All Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2080 y5a16 wc47 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x207f h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a16 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y5a16 wc02 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">2<span class=\"_ _0\"></span>5.0<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wc48 h2c1\" id=\"_1cbf904f-d66d-4f29-b34d-978068b30aac\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y631d ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y631d ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y631f ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y631f ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y631f ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y631f ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6320 wc49 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Am<span class=\"_ _0\"></span>erican Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2083 y6320 wc4a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2082 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6320 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6320 w74e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">5<span class=\"_ _0\"></span>6.43%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6321 wc4b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Am<span class=\"_ _0\"></span>erican Equit<span class=\"_ _0\"></span>y Enha<span class=\"_ _0\"></span>nced In<span class=\"_ _0\"></span>dex Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2059 y6321 wc20 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2058 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6321 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6321 wc4c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls55 ws144\">33<span class=\"_ _0\"></span>.83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6322 wc4d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn As<span class=\"_ _0\"></span>ia Pacific Equit<span class=\"_ _0\"></span>y Enhanc<span class=\"_ _0\"></span>ed Inde<span class=\"_ _0\"></span>x F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2086 y6322 wc4e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2085 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6322 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6322 w74e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">32.<span class=\"_ _0\"></span>83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6323 wc4f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn As<span class=\"_ _0\"></span>ia Pacific Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2088 y6323 wc50 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2087 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6323 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y6323 w7d0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23.<span class=\"_ _0\"></span>80%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6324 wc51 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn D<span class=\"_ _0\"></span>ynamic Di<span class=\"_ _0\"></span>stributio<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208a y6324 wc52 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2089 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6324 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y6324 wc53 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">64<span class=\"_ _0\"></span>.83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6325 wc54 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ethic<span class=\"_ _0\"></span>al Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y6325 wbf0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6325 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6325 wbea h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15a ws163\">61.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6326 w344 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e ex UK Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y6326 wc04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6326 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6326 wc55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">20<span class=\"_ _0\"></span>.76%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6327 wc56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e Ex UK I<span class=\"_ _0\"></span>ncome Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208c y6327 wc57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x208b h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6327 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6327 wc58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">3<span class=\"_ _0\"></span>5.41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6328 wc59 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>ean Equit<span class=\"_ _0\"></span>y Enhanc<span class=\"_ _0\"></span>ed Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208f y6328 wc5a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x208e h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6328 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6328 wc5b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">22.40%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6329 wc5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>ean Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2031 y6329 wbf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2030 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6329 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2090 y6329 wc5d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">20<span class=\"_ _2\"></span>.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632a wc5e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity Enh<span class=\"_ _0\"></span>anced I<span class=\"_ _0\"></span>ndex Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2092 y632a wc5f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2091 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632a wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632a wc60 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">23<span class=\"_ _0\"></span>.07<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632b wc61 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203b y632b wc01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632b wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y632b wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.56<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632c wc63 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity T<span class=\"_ _2\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2094 y632c wc64 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2093 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632c wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632c w7d0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23.32<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632d wc65 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Governm<span class=\"_ _0\"></span>ent Bond T<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2096 y632d wc66 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2095 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632d wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632d wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632e wc67 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Inflatio<span class=\"_ _0\"></span>n-Linked Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2098 y632e wc68 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2097 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632e wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2099 y632e wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632f wc69 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Inflatio<span class=\"_ _0\"></span>n-Linked Bon<span class=\"_ _0\"></span>d T<span class=\"_ _4\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x209b y632f wc6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x209a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632f wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x209c y632f w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">5<span class=\"_ _0\"></span>9.63%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6330 wc6b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x209e y6330 wc6c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x209d h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6330 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6330 wc29 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">54<span class=\"_ _0\"></span>.78%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6331 wc6d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Real E<span class=\"_ _0\"></span>state Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a0 y6331 wc6e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x209f h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6331 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20a1 y6331 wc6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">3<span class=\"_ _0\"></span>6.80%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6332 wc70 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2029 y6332 wc71 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a2 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6333 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6333 w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">2<span class=\"_ _0\"></span>6.33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6334 wc72 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Hi<span class=\"_ _0\"></span>gh Yield Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a4 y6334 wc73 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a3 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6334 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y6334 w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">20.6<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6335 wc74 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y Enhance<span class=\"_ _0\"></span>d Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a6 y6335 wc75 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x20a5 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6335 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2090 y6335 wba8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">4<span class=\"_ _0\"></span>6.0<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6336 wc76 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ja<span class=\"_ _0\"></span>panese Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a8 y6336 wc77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a7 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6336 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6336 wc78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ee wc79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Liqui<span class=\"_ _0\"></span>dity Fund (Lu<span class=\"_ _0\"></span>x) \u2013 Euro Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20aa y62ee wc7a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20a9 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ee wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ab y62ee wc7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">32.68%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6337 wc7c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed IV Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ad y6337 wc7d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ac h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6337 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ae y6337 wc7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">6<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f1 wc7f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market I Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b0 y62f1 wc80 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20af h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f1 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y62f1 wc81 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">4<span class=\"_ _0\"></span>4.42<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f2 wc82 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2061 y62f2 wc28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2060 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f2 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y62f2 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6338 wc83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market III Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b2 y6338 wc84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b1 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6338 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6338 wc85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">58.67%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f4 wc86 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market IV Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b4 y62f4 wc87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b3 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f4 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y62f4 wc88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls147 ws152\">55<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>52%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f5 wc89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market V Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b6 y62f5 wc8a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b5 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f5 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20b7 y62f5 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">60<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>51%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6339 wc8b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b9 y6339 wc8c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b8 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6339 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6339 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">4<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633a wc8e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r III Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20bb y633a wc8f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ba h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y633a wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y633a wc5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">60<span class=\"_ _2\"></span>.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f8 wc90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r IV F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20be y62f8 wc91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20bd h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f8 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y62f8 wbae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">6<span class=\"_ _0\"></span>0.88%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f9 wc92 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r V F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c0 y62f9 wc93 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20bf h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f9 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20b7 y62f9 wc94 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">4<span class=\"_ _0\"></span>0.<span class=\"_ _2\"></span>13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad3 wc95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican S<span class=\"_ _0\"></span>mall &amp; Mid-<span class=\"_ _0\"></span>Cap Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c2 y5ad3 wc96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20c1 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5ad3 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y5ad3 wbfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">29.5<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad4 wc97 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Cor<span class=\"_ _0\"></span>porate Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y5ad4 wc04 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5ad4 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y5ad4 wbea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">43.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fc wc98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>uration Glo<span class=\"_ _0\"></span>bal Inflatio<span class=\"_ _0\"></span>n-Linked Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c4 y62fc wc99 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20c3 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62fc wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y62fc wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">26<span class=\"_ _0\"></span>.37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fd wc9a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Diver<span class=\"_ _0\"></span>sified Inc<span class=\"_ _0\"></span>ome Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c6 y62fd wc9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20c5 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62fd wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y62fd wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">32.42<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad7 wc9c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Emerg<span class=\"_ _0\"></span>ing Markets Low V<span class=\"_ _2\"></span>ola<span class=\"_ _0\"></span>tility Equit<span class=\"_ _0\"></span>y Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c9 y5ad7 wc9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20c8 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ad7 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ca y5ad7 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad8 wc9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Europe E<span class=\"_ _0\"></span>x UK Su<span class=\"_ _0\"></span>staina<span class=\"_ _0\"></span>ble Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20cc y5ad8 wc9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20cb h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ad8 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5ad8 wca0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">67<span class=\"_ _4\"></span>.4<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6300 wca1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 GD<span class=\"_ _0\"></span>P W<span class=\"_ _2\"></span>eig<span class=\"_ _0\"></span>hted Globa<span class=\"_ _0\"></span>l Government B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20cf y6300 wca2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20ce h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6300 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d0 y6300 wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">73<span class=\"_ _0\"></span>.72%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633b wca4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d2 y633b wca5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20d1 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633b wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y633b wca6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">99.<span class=\"_ _0\"></span>87%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ada wca7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Corpor<span class=\"_ _0\"></span>ate Sust<span class=\"_ _0\"></span>ainable B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d5 y5ada wca8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20d4 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ada wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y5ada wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">42.02<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adb wca9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Government B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d8 y5adb wcaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x20d7 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5adb wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y5adb wcab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">76<span class=\"_ _0\"></span>.6<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wcac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Japan<span class=\"_ _0\"></span>ese Su<span class=\"_ _0\"></span>staina<span class=\"_ _0\"></span>ble Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20da y62ab wcad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ab wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y62ab wcae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">26<span class=\"_ _0\"></span>.29%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633c wcaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Nor<span class=\"_ _0\"></span>th Ameri<span class=\"_ _0\"></span>can Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20dc y633c wcb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x20db h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633c wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y633c wc02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.4<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633d wcb1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Sho<span class=\"_ _0\"></span>rt Date<span class=\"_ _0\"></span>d Enhanc<span class=\"_ _0\"></span>ed Incom<span class=\"_ _0\"></span>e Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20de y633d wcb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20dd h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633d wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y633d wcb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">24<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ade wcb4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Equit<span class=\"_ _0\"></span>y Impac<span class=\"_ _0\"></span>t F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1086 y5ade wcb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20df h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ade wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y5ade wcb6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">71<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wcb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Inflatio<span class=\"_ _0\"></span>n-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Governme<span class=\"_ _0\"></span>nt Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e1 y62ae wcb8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20e0 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ae wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y62ae w747 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">62.52%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae0 wcb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Sho<span class=\"_ _0\"></span>rt Dur<span class=\"_ _0\"></span>ation Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e3 y5ae0 wcba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e2 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae0 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y5ae0 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">83.<span class=\"_ _0\"></span>23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633e wcbb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Abs<span class=\"_ _0\"></span>olute Return G<span class=\"_ _0\"></span>lobal Bon<span class=\"_ _0\"></span>d Strategie<span class=\"_ _0\"></span>s Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x148b y633e wcbc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e4 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633e wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y633e wbf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">92.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae1 wcbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Eme<span class=\"_ _0\"></span>rging Market Loc<span class=\"_ _0\"></span>al Currenc<span class=\"_ _0\"></span>y Debt Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e6 y5ae1 wcbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20e5 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae1 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5ae1 wcbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls77 ws34\">73<span class=\"_ _0\"></span>.27%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae2 wcc0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e8 y5ae2 wcc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e7 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae2 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y5ae2 wbfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">28.9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae3 wcc2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Small<span class=\"_ _0\"></span>er Compa<span class=\"_ _0\"></span>nies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20dc y5ae3 wcb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20db h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae3 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y5ae3 wc85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">25.67%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae4 wcc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal Corp<span class=\"_ _0\"></span>orate Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ea y5ae4 wcc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20e9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae4 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20eb y5ae4 wba8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">5<span class=\"_ _0\"></span>6.<span class=\"_ _0\"></span>04%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wcc5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal High Yie<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20da y5ae5 wcad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae5 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y5ae5 wba8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">5<span class=\"_ _0\"></span>6.<span class=\"_ _0\"></span>34%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a13 wcc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal Real E<span class=\"_ _0\"></span>state S<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s Sust<span class=\"_ _0\"></span>ainable Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ed y5a13 wcc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20ec h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a13 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ca y5a13 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 wcc8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) Sterling Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ea y5ae6 wcc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20e9 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae6 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2057 y5ae6 wcc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">24<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wcca h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 C<span class=\"_ _0\"></span>hina Onsh<span class=\"_ _0\"></span>ore Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ef y5a15 wccb h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20ee h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a15 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5a15 wca6 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">78<span class=\"_ _0\"></span>.87%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wccc h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ster<span class=\"_ _0\"></span>ling Corp<span class=\"_ _0\"></span>orate Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y5a16 wbf0 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5a16 wb9b h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ae y5a16 wc17 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">46<span class=\"_ _0\"></span>.31%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wccd h2c2\" id=\"_33f2d3fd-f0a3-4a78-9c51-eaddcff688ba\"><tr><td></td><td></td><td class=\"t m0 x1f9b h29 y633f ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 xd04 h29 y633f ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1251 h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x1f9c h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x1f9d h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x941 h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x6bc h29 y6341 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1f9e h29 y6341 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3be h29 y6341 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 h29 y6341 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y6342 wcce h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Str<span class=\"_ _0\"></span>ategic Bo<span class=\"_ _0\"></span>nd Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f1 y6342 wccf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20f0 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6342 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fca y6342 wbe7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">6<span class=\"_ _1\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6343 wcd0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Equity Enh<span class=\"_ _0\"></span>ance<span class=\"_ _0\"></span>d Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f3 y6343 wcd1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20f2 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6343 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f4 y6343 wcd2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">29.23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6344 wcd3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Incom<span class=\"_ _0\"></span>e E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f5 y6344 wc68 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2097 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6344 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f6 y6344 w428 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls170 ws142\">36.05%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6345 wcd4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Mid-<span class=\"_ _0\"></span>Cap Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f7 y6345 wc73 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a3 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6345 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f8 y6345 wc6f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">3<span class=\"_ _0\"></span>4.50%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6346 wcd5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Smaller C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f9 y6346 wc80 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20af h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6346 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6346 wcd6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">32.02%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6347 wcd7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Sust<span class=\"_ _0\"></span>ainable an<span class=\"_ _0\"></span>d Respon<span class=\"_ _0\"></span>sible Investm<span class=\"_ _0\"></span>ent Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20fb y6347 wcd8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20fa h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6347 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20fc y6347 wbae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">4<span class=\"_ _0\"></span>0.68%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6348 wcd9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K V<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>lue Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20fe y6348 wcda h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20fd h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6348 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6348 w3dc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls16e ws17d\">45.<span class=\"_ _0\"></span>83<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6349 wcdb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ACS World Multifa<span class=\"_ _0\"></span>ctor Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2100 y6349 wcdc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ff h11 y5a78 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6349 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6349 wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.56<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634a wcdd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di Global C<span class=\"_ _0\"></span>orp SRI 1<span class=\"_ _0\"></span>-5Y<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2101 y634a wcde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lux<span class=\"_ _0\"></span>emb<span class=\"_ _0\"></span>ou<span class=\"_ _0\"></span>rg\u00b2\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2102 y634a wcdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2103 y634a w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">32.<span class=\"_ _0\"></span>53%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y634b ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di MSCI Em<span class=\"_ _0\"></span>erging </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y634c wce0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">E<span class=\"_ _0\"></span>x China ESG Lea<span class=\"_ _0\"></span>ders S<span class=\"_ _0\"></span>elect<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x128c y634c wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2104 y634c wbe3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2105 y634c wce1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls130 ws135\">43.9<span class=\"_ _0\"></span>6%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634d wce2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i UCITS Funds \u2013 A<span class=\"_ _0\"></span>mundi Glob<span class=\"_ _0\"></span>al Multi-Fa<span class=\"_ _0\"></span>ctor Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2106 y634d wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2107 y634d wce3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UCI<span class=\"_ _0\"></span>TS, sub f<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2108 y634d wca3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">72.<span class=\"_ _0\"></span>37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y634e wce4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">AQR Glob<span class=\"_ _0\"></span>al Risk Premium U<span class=\"_ _0\"></span>CITS Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x210a y634e wce5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x2109 h11 y5a78 ff2 fs9 fc3 sc0 ls1fb ws219\">40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y634e wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210b y634e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634f wce6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford Emerg<span class=\"_ _0\"></span>ing Markets Lea<span class=\"_ _0\"></span>ding Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ddd y634f wce7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh\u00b3<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210c y634f wc39 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d2 y634f wac0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">32.50<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6350 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford Inves<span class=\"_ _0\"></span>tment Funds II I<span class=\"_ _0\"></span>CV<span class=\"_ _2\"></span>C \u2013 </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6351 wce8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford UK Equi<span class=\"_ _0\"></span>ty Co<span class=\"_ _0\"></span>re F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x210d y6351 wce9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b3\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210e y6351 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210f y6351 wcea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">42.73%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6352 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford UK &amp; B<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds ICVC \u2013 Baillie </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6353 wceb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Gif<span class=\"_ _0\"></span>ford UK and Worldw<span class=\"_ _0\"></span>ide Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2110 y6353 wce9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b3\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2111 y6353 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b09 y6353 w7d0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">3<span class=\"_ _0\"></span>0.23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6354 wcec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Barin<span class=\"_ _0\"></span>gs Emergin<span class=\"_ _0\"></span>g Markets De<span class=\"_ _0\"></span>bt Shor<span class=\"_ _0\"></span>t Duratio<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2113 y6354 wced h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin</div><div class=\"t m0 x2112 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6355 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2114 y6355 wc58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">28<span class=\"_ _0\"></span>.41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6356 wcee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Ca<span class=\"_ _0\"></span>sh Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2115 y6356 wcef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2035 h11 y5b82 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y6356 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2116 y6356 wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.86<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6357 wcf0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Glo<span class=\"_ _0\"></span>bal Funds \u2013 Sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le W<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2118 y6357 wcf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2117 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6357 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2119 y6357 wcf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">25.48%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6358 wcf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Adva<span class=\"_ _0\"></span>ntage Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x211b y6358 wcf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x211a h11 y5b56 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6358 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x211c y6358 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.4<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6359 wcf5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock UK A<span class=\"_ _0\"></span>bsolute Alph<span class=\"_ _0\"></span>a F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x211d y6359 wcf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b9e ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y6359 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x211e y6359 wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">2<span class=\"_ _0\"></span>0.1<span class=\"_ _0\"></span>8%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635a w4af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">BNY M<span class=\"_ _0\"></span>ellon Glob<span class=\"_ _0\"></span>al Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x211f y635a wcf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b3\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2120 y635a wcf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>EIC, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2121 y635a wbea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">28.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635b wcf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">BNY M<span class=\"_ _0\"></span>ellon Multi-As<span class=\"_ _0\"></span>set Glob<span class=\"_ _0\"></span>al Balan<span class=\"_ _0\"></span>ced Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2122 y635b wcf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b3\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2123 y635b wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2124 y635b wcfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">37<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635c wcfb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brent Cro<span class=\"_ _0\"></span>ss Par<span class=\"_ _0\"></span>tnership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2126 y635c wcfc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2125 h11 y5b56 ff2 fs9 fc3 sc0 ls207 ws225\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y635c wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2127 y635c w13e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.8<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635d wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Fide<span class=\"_ _0\"></span>lity M<span class=\"_ _0\"></span>ulti Asse<span class=\"_ _0\"></span>t Open Advent<span class=\"_ _0\"></span>urous Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2129 y635d wcfd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>urrey</div><div class=\"t m0 x2128 h11 y5b9e ff2 fs9 fc3 sc0 ls200 ws21e\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y635d wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x212a y635d wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">40<span class=\"_ _0\"></span>.78%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635e wcfe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Gallion<span class=\"_ _0\"></span>s Reach S<span class=\"_ _0\"></span>hopping Park Lim<span class=\"_ _0\"></span>ited Part<span class=\"_ _0\"></span>nership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x212c y635e wcff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x212b h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y635e wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y635e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635f wd00 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Gallion<span class=\"_ _0\"></span>s Reach S<span class=\"_ _0\"></span>hopping Park U<span class=\"_ _0\"></span>nit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x212e y635f wd01 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x212d h11 y5b56 ff2 fs9 fc3 sc0 ls208 ws226\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y635f wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y635f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6360 wd02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Goldm<span class=\"_ _0\"></span>an Sach<span class=\"_ _0\"></span>s SICA<span class=\"_ _2\"></span>V \u2013 Em<span class=\"_ _0\"></span>erging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s T<span class=\"_ _4\"></span>otal Ret<span class=\"_ _0\"></span>urn Bond Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2130 y6360 wd03 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x212f h11 y5b9e ff2 fs9 fc3 sc0 ls209 ws227\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6360 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2131 y6360 wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">86<span class=\"_ _0\"></span>.71%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6361 ff2 fs6 fc3 sc0 ls17f ws1\">Goldm<span class=\"_ _0\"></span>an Sach<span class=\"_ _0\"></span>s SICA<span class=\"_ _2\"></span>V \u2013 G<span class=\"_ _0\"></span>oldman Sa<span class=\"_ _0\"></span>chs </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6362 wd04 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Emerg<span class=\"_ _0\"></span>ing Markets D<span class=\"_ _0\"></span>ebt Port<span class=\"_ _0\"></span>folio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2133 y6362 wd05 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2132 h11 y5b56 ff2 fs9 fc3 sc0 ls209 ws227\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6363 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2134 y6363 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.81%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6364 wd06 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Invesc<span class=\"_ _0\"></span>o Manag<span class=\"_ _0\"></span>ed Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1516 y6364 wd07 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ox<span class=\"_ _0\"></span>fordshire</div><div class=\"t m0 x2135 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6364 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2136 y6364 wd08 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6365 wd09 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson All Stoc<span class=\"_ _0\"></span>ks Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2138 y6365 wd0a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2137 h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6365 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2139 y6365 wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">2<span class=\"_ _0\"></span>5.1<span class=\"_ _0\"></span>7%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6366 wd0b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Diver<span class=\"_ _0\"></span>sified Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213b y6366 wd0c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x213a h11 y5b9e ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6366 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y6366 wac0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">65<span class=\"_ _0\"></span>.06%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6367 wd0d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Eme<span class=\"_ _0\"></span>rging Markets O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc4 y6367 wba5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc3 h11 y5b9e ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6367 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f8 y6367 w451 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">23.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6368 wd0e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Global Responsible Manag<span class=\"_ _0\"></span>ed F<span class=\"_ _2\"></span>und<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213d y6368 wd0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x213c h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6368 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x212a y6368 wd10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">2<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>35%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62a8 wd11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Ins<span class=\"_ _0\"></span>titution<span class=\"_ _0\"></span>al UK Inde<span class=\"_ _0\"></span>x Oppor<span class=\"_ _0\"></span>tunities Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213f y62a8 wd12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x213e h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62a8 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2136 y62a8 wd13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">57<span class=\"_ _2\"></span>.53%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6369 wd14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G A<span class=\"_ _0\"></span>bsolute Retur<span class=\"_ _0\"></span>n Bond Plus Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2140 y6369 wd15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">Lu<span class=\"_ _0\"></span>xe<span class=\"_ _0\"></span>m<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>ou<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>g\u00b3\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2141 y6369 wd16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2142 y6369 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">49.<span class=\"_ _0\"></span>33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6314 wd17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G Em<span class=\"_ _0\"></span>erging Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2143 y6314 wd18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">L<span class=\"_ _0\"></span>ux<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>mb<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>ur<span class=\"_ _0\"></span>g\u00b3<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2144 y6314 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2145 y6314 wd19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">74<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6316 wd1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G M<span class=\"_ _0\"></span>ulti-Asset T<span class=\"_ _2\"></span>arg<span class=\"_ _0\"></span>et Return Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2147 y6316 wd1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x2146 h11 y5b56 ff2 fs9 fc3 sc0 ls20a ws228\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6316 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2148 y6316 wd1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.<span class=\"_ _0\"></span>81%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6317 wd1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Active Sterlin<span class=\"_ _0\"></span>g Corpor<span class=\"_ _0\"></span>ate Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2149 y6317 wd1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214a y6317 wbc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ea y6317 wd1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y636a ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Emerging M<span class=\"_ _0\"></span>arkets Governm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y633d wd20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Bon<span class=\"_ _0\"></span>d (Local Cur<span class=\"_ _0\"></span>rency) Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x214b y633d wd1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214c y633d wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214d y633d wd21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">20.<span class=\"_ _0\"></span>34%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ade wd22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Emerging M<span class=\"_ _0\"></span>arkets Governm<span class=\"_ _0\"></span>ent Bond U<span class=\"_ _0\"></span>SD Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x214e y5ade wd23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214f y5ade wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2150 y5ade wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">32.<span class=\"_ _0\"></span>42%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wd24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al High Inc<span class=\"_ _0\"></span>ome T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2151 y62ae wd25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don<span class=\"_ _2\"></span>\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2152 y62ae wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2153 y62ae wc58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls81 ws14c\">41<span class=\"_ _0\"></span>.01%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wd26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al UK Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2154 y62af wc32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2155 y62af wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2156 y62af wd27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">3<span class=\"_ _2\"></span>1.39%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633e wd28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Ninet<span class=\"_ _0\"></span>y One Fun<span class=\"_ _0\"></span>ds Series i G<span class=\"_ _0\"></span>lobal Ma<span class=\"_ _0\"></span>cro Alloc<span class=\"_ _0\"></span>ation Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2158 y633e wd29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2157 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62b0 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2159 y62b0 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.23<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae1 wd2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L<span class=\"_ _2\"></span>G<span class=\"_ _0\"></span>IM Sterling Liq<span class=\"_ _0\"></span>uidity Plu<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x215b y5ae1 wd2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x215a h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5ae1 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215c y5ae1 wc7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">2<span class=\"_ _0\"></span>1.<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e14 wd2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors Cir<span class=\"_ _0\"></span>ilium Balanc<span class=\"_ _0\"></span>ed Blen<span class=\"_ _0\"></span>d P<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x215d y5e14 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215e y5e14 wc39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215f y5e14 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">35.6<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e15 wd2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors Eth<span class=\"_ _0\"></span>ical Equit<span class=\"_ _0\"></span>y Fund\ue01e<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2020 y5e15 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2160 y5e15 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2161 y5e15 wd2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">3<span class=\"_ _0\"></span>4.75%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae4 wd2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2162 y5ae4 wd30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2163 y5ae4 wcf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>EIC, sub f<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2164 y5ae4 wbf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">54.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae5 wd31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Resp<span class=\"_ _0\"></span>onsible Gl<span class=\"_ _0\"></span>obal High Yie<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2166 y5ae5 wd32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x2165 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5ae5 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2119 y5ae5 wcf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">25.38%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b29 wd33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Robe<span class=\"_ _0\"></span>co \u2013 Phoe<span class=\"_ _0\"></span>nix Custom<span class=\"_ _0\"></span>i<span class=\"_ _2\"></span>zed M<span class=\"_ _0\"></span>ulti Ass<span class=\"_ _0\"></span>et Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2168 y5b29 wd34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Rot<span class=\"_ _0\"></span>terdam</div><div class=\"t m0 x2167 h11 y5b9e ff2 fs9 fc3 sc0 ls20b ws229\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5b29 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2169 y5b29 wd35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">98.88<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b06 wd36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Robe<span class=\"_ _0\"></span>co QI Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets S<span class=\"_ _0\"></span>usta<span class=\"_ _0\"></span>inable Enha<span class=\"_ _0\"></span>nced In<span class=\"_ _0\"></span>dex Equities I<span class=\"_ _0\"></span>I<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x216b y5b06 wd37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x216a h11 y5b9e ff2 fs9 fc3 sc0 ls206 ws224\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5b06 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x216c y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a15 wd38 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder Europe<span class=\"_ _0\"></span>an Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x216e y5a15 wd39 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x216d h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y5a15 wb9e h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x216f y5a15 wc53 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">56<span class=\"_ _0\"></span>.43%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 wd3a h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder Inter<span class=\"_ _0\"></span>national S<span class=\"_ _0\"></span>elec<span class=\"_ _0\"></span>tion Fund \u2013 Globa<span class=\"_ _0\"></span>l Diversifie<span class=\"_ _0\"></span>d Growth<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2171 y5a16 wd3b h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2170 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5a16 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2169 y5a16 wc6f h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">25<span class=\"_ _0\"></span>.69%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"gs79\"><table class=\"s wd3c h2c3\" id=\"_10e1de82-3d47-47ad-98f5-2a3b0fc7f19f\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y636b ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y636b ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y636d ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y636d ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y636d ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y636d ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y636e wd3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder U<span class=\"_ _0\"></span>K Mid 250 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2173 y636e wd3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2172 h11 y5a78 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y636e wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2174 y636e wbe7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">2<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y636f wd3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Investm<span class=\"_ _0\"></span>ents Brent C<span class=\"_ _0\"></span>ross LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2176 y636f wd40 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x2175 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y636f wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y636f wd41 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6370 wd42 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Investm<span class=\"_ _0\"></span>ents UK S<span class=\"_ _0\"></span>hopping C<span class=\"_ _0\"></span>entre T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2178 y6370 wd43 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x2177 h11 y5b82 ff2 fs9 fc3 sc0 ls20c ws22a\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6370 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y6370 wd41 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6371 wd44 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">The M<span class=\"_ _0\"></span>arks and Sp<span class=\"_ _0\"></span>encer World<span class=\"_ _0\"></span>wide Mana<span class=\"_ _0\"></span>ged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217a y6371 wd45 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Chest<span class=\"_ _2\"></span>er</div><div class=\"t m0 x2179 h11 y5b82 ff2 fs9 fc3 sc0 ls20b ws229\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6371 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y6371 wca3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">30<span class=\"_ _0\"></span>.42%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6372 wd46 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Threa<span class=\"_ _0\"></span>dnee<span class=\"_ _0\"></span>dle Investme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds ICV<span class=\"_ _2\"></span>C \u2013 Am<span class=\"_ _0\"></span>erican S<span class=\"_ _0\"></span>elec<span class=\"_ _0\"></span>t Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217c y6372 wd47 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x217b h11 y5a78 ff2 fs9 fc3 sc0 ls20d ws22b\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6372 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6372 wcd6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">20.32%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6373 ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Comm<span class=\"_ _0\"></span>on<span class=\"_ _2\"></span> C<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>actual Fu<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> \u2013 V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6374 wd48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">U.<span class=\"_ _0\"></span>S. Equit<span class=\"_ _0\"></span>y Index C<span class=\"_ _0\"></span>ommon C<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217e y6374 wd49 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x217d h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6374 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x217f y6374 wd4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bf ws1d3\">77<span class=\"_ _2\"></span>.40%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6375 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard Inves<span class=\"_ _0\"></span>tment Se<span class=\"_ _0\"></span>ries plc \u2013 V<span class=\"_ _2\"></span>an<span class=\"_ _0\"></span>guard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6376 wd4b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Global Corporate Bond Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2181 y6376 wd4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2180 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6377 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2182 y6377 wd4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20e ws22c\">38.21<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6378 ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investment Series plc \u2013 V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard<span class=\"_ _2\"></span> Glob<span class=\"_ _0\"></span>al </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6379 wd4e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sho<span class=\"_ _0\"></span>rt-<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>m Corpor<span class=\"_ _0\"></span>ate Bond Ind<span class=\"_ _0\"></span>ex F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2184 y6379 wd4f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2183 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y637a wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2185 y637a wd50 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">41.<span class=\"_ _0\"></span>55%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y637b wd51 h202\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard Inves<span class=\"_ _0\"></span>tment Se<span class=\"_ _0\"></span>ries plc \u2013 V<span class=\"_ _2\"></span>an<span class=\"_ _0\"></span>guard U.<span class=\"_ _0\"></span>K. Sh<span class=\"_ _0\"></span>ort-<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rm Investm<span class=\"_ _0\"></span>ent Grade B<span class=\"_ _0\"></span>ond Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2187 y637b wd52 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2186 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y637b wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ab y637b wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">42<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637c ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce4 wd53 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped Europ<span class=\"_ _0\"></span>e ex UK Comm<span class=\"_ _0\"></span>on Contra<span class=\"_ _0\"></span>ctual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2189 y5ce4 wd54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2188 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ce4 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x218a y5ce4 wc8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637d ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce6 wd55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped World C<span class=\"_ _0\"></span>ommon Co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>ual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x218c y5ce6 wd56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x218b h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5c3a wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x218d y5c3a wc24 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">4<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>.12%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637e ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wd57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped World ex U<span class=\"_ _0\"></span>K Commo<span class=\"_ _0\"></span>n Contrac<span class=\"_ _0\"></span>tual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x218f y5a16 wd58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin</div><div class=\"t m0 x218e h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a16 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x217f y5a16 wc8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc8 sc0 ls1 ws1 gsad5\">1<span class=\"fc3\"> <span class=\"_ _118\"> </span></span>Wyt<span class=\"_ _0\"></span>hall G<span class=\"_ _0\"></span>reen Way, Wy<span class=\"_ _0\"></span>tha<span class=\"_ _0\"></span>ll, Bir<span class=\"_ _0\"></span>mingh<span class=\"_ _0\"></span>am, We<span class=\"_ _0\"></span>st Mid<span class=\"_ _0\"></span>lands<span class=\"_ _0\"></span>, B47 6<span class=\"_ _0\"></span>WG, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsad6\">2 <span class=\"_ _f4\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>tand<span class=\"_ _0\"></span>ard Life H<span class=\"_ _0\"></span>ous<span class=\"_ _0\"></span>e, 30 Lot<span class=\"_ _0\"></span>hian Ro<span class=\"_ _0\"></span>ad, Edi<span class=\"_ _0\"></span>nburg<span class=\"_ _0\"></span>h, EH1 2<span class=\"_ _0\"></span>DH<span class=\"_ _0\"></span>, Unite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsad7\">3 <span class=\"_ _f4\"> </span><span class=\"fc8\">9<span class=\"_ _0\"></span>0 St. S<span class=\"_ _0\"></span>tephe<span class=\"_ _0\"></span>n\u2019s Gree<span class=\"_ _0\"></span>n, Du<span class=\"_ _0\"></span>blin, D<span class=\"_ _0\"></span>2, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsad8\">4 <span class=\"_ _f4\"> </span><span class=\"fc8\">W<span class=\"_ _0\"></span>indso<span class=\"_ _0\"></span>r Hous<span class=\"_ _0\"></span>e, T<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lford C<span class=\"_ _0\"></span>entre<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>elfo<span class=\"_ _0\"></span>rd, Sh<span class=\"_ _0\"></span>rops<span class=\"_ _0\"></span>hire, TF<span class=\"_ _0\"></span>3 4NB<span class=\"_ _0\"></span>, Unit<span class=\"_ _0\"></span>ed King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsad9\">5 <span class=\"_ _f4\"> </span><span class=\"fc8\">G<span class=\"_ _0\"></span>oodb<span class=\"_ _0\"></span>ody S<span class=\"_ _0\"></span>ecre<span class=\"_ _0\"></span>tari<span class=\"_ _0\"></span>al Limite<span class=\"_ _0\"></span>d, Int<span class=\"_ _0\"></span>erna<span class=\"_ _0\"></span>tiona<span class=\"_ _0\"></span>l Finan<span class=\"_ _0\"></span>cial S<span class=\"_ _0\"></span>er<span class=\"_ _0\"></span>vices C<span class=\"_ _0\"></span>entr<span class=\"_ _0\"></span>e, 25/28 N<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>h Wall Qu<span class=\"_ _0\"></span>ay<span class=\"_ _2\"></span>, D<span class=\"_ _0\"></span>ublin 1<span class=\"_ _0\"></span>, Ire<span class=\"_ _0\"></span>land<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsada\">6 <span class=\"_ _f4\"> </span><span class=\"fc8 ls21 ws23\">1 Georg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> Stre<span class=\"_ _0\"></span>et, Edinburgh, EH2 2LL<span class=\"_ _0\"></span>, United Kingdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsadb\">7 <span class=\"_ _10\"> </span><span class=\"fc8\">2<span class=\"_ _0\"></span>2-2<span class=\"_ _2\"></span>4 N<span class=\"_ _0\"></span>ew Stre<span class=\"_ _0\"></span>et, St P<span class=\"_ _0\"></span>auls Ga<span class=\"_ _0\"></span>te, 4th Fl<span class=\"_ _0\"></span>oor, JE1 4<span class=\"_ _0\"></span>TR, J<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>ey<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsadc\">8 <span class=\"_ _f4\"> </span><span class=\"fc8 ls11 ws11\">20 Old Bailey,<span class=\"_ _2\"></span> London, England, EC4M 7AN, United Ki<span class=\"_ _2\"></span>ng<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsadd\">9 <span class=\"_ _f4\"> </span><span class=\"fc8 ls54 ws7f\">Ugland House,<span class=\"_ _2\"></span> Grand Cayman,<span class=\"_ _2\"></span> K<span class=\"_ _0\"></span>Y<span class=\"_ _2\"></span>1-1104, Cayman<span class=\"_ _2\"></span> Islands<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsade\">10 <span class=\"_ _154\"> </span><span class=\"fc8\">Aven<span class=\"_ _0\"></span>ue Loui<span class=\"_ _0\"></span>se 326<span class=\"_ _0\"></span>, bte 3<span class=\"_ _0\"></span>3 105<span class=\"_ _0\"></span>0 Brus<span class=\"_ _0\"></span>sels<span class=\"_ _0\"></span>, Bel<span class=\"_ _0\"></span>gium<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsadf\">11 <span class=\"_ _14\"> </span><span class=\"fc8\">Tele<span class=\"_ _0\"></span>stone 8<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lepo<span class=\"_ _0\"></span>rt, N<span class=\"_ _0\"></span>arit<span class=\"_ _0\"></span>aweg 1<span class=\"_ _0\"></span>65<span class=\"_ _0\"></span>, 104<span class=\"_ _0\"></span>3 BW, Ams<span class=\"_ _0\"></span>terd<span class=\"_ _0\"></span>am, Ne<span class=\"_ _0\"></span>ther<span class=\"_ _0\"></span>lands<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae0\">12 <span class=\"_ _16\"> </span><span class=\"fc8\">Cit<span class=\"_ _0\"></span>co (Swe<span class=\"_ _0\"></span>den) Ab<span class=\"_ _0\"></span>, Sture<span class=\"_ _0\"></span>plan 4<span class=\"_ _0\"></span>c, 4 Tr<span class=\"_ _2\"></span>, 11<span class=\"_ _0\"></span>4 35 Sto<span class=\"_ _0\"></span>ckho<span class=\"_ _0\"></span>lm, Swe<span class=\"_ _0\"></span>den<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae1\">13 <span class=\"_ _16\"> </span><span class=\"fc8\">c/o Citco (<span class=\"_ _0\"></span>Denm<span class=\"_ _0\"></span>ark) A<span class=\"_ _0\"></span>pS, H<span class=\"_ _0\"></span>olbe<span class=\"_ _0\"></span>rgsg<span class=\"_ _0\"></span>ade 14<span class=\"_ _0\"></span>, 2 .tv, 1<span class=\"_ _0\"></span>057 K<span class=\"_ _0\"></span>\u00f8be<span class=\"_ _0\"></span>nhavn K D<span class=\"_ _0\"></span>enma<span class=\"_ _0\"></span>rk<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae2\">14 <span class=\"_ _f1\"> </span><span class=\"fc8 ls11 ws11\">2<span class=\"_ _0\"></span>01<span class=\"_ _2\"></span> Bishopsg<span class=\"_ _0\"></span>ate,<span class=\"_ _2\"></span> London, EC2M 3AE, United Kingdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae3\">15 <span class=\"_ _16\"> </span><span class=\"fc8\">2-4<span class=\"_ _0\"></span>, Rue Eu<span class=\"_ _0\"></span>g\u00e8n<span class=\"_ _0\"></span>e Ruppe<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>, L<span class=\"_ _3\"></span>-245<span class=\"_ _0\"></span>3 Luxem<span class=\"_ _0\"></span>bourg<span class=\"_ _0\"></span>, Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae4\">16 <span class=\"_ _f1\"> </span><span class=\"fc8\">3<span class=\"_ _0\"></span>5a Aven<span class=\"_ _0\"></span>ue J.<span class=\"_ _0\"></span>F<span class=\"_ _4\"></span>. Ke<span class=\"_ _0\"></span>nned<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, L<span class=\"_ _2\"></span>-18<span class=\"_ _0\"></span>55, L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae5\">17 <span class=\"_ _137\"> </span><span class=\"fc8\">Og<span class=\"_ _0\"></span>ier Ho<span class=\"_ _0\"></span>use, T<span class=\"_ _0\"></span>he Esp<span class=\"_ _0\"></span>lana<span class=\"_ _0\"></span>de, St H<span class=\"_ _0\"></span>elie<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>E<span class=\"_ _2\"></span>4 9<span class=\"_ _0\"></span>WG, Je<span class=\"_ _0\"></span>rsey<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae6\">18 <span class=\"_ _f1\"> </span><span class=\"fc8\">3<span class=\"_ _0\"></span>2 Mole<span class=\"_ _0\"></span>swor<span class=\"_ _0\"></span>th Str<span class=\"_ _0\"></span>eet, D<span class=\"_ _0\"></span>ublin 2<span class=\"_ _0\"></span>, Dubl<span class=\"_ _0\"></span>in, D0<span class=\"_ _0\"></span>2 Y512, I<span class=\"_ _0\"></span>relan<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae7\">19 <span class=\"_ _f1\"> </span><span class=\"fc8\">8 C<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>a Squa<span class=\"_ _0\"></span>re, Lon<span class=\"_ _0\"></span>don, E<span class=\"_ _0\"></span>14 5HQ, U<span class=\"_ _0\"></span>nited K<span class=\"_ _0\"></span>ingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae8\">20 <span class=\"_ _f6\"> </span><span class=\"fc8 ls11 ws11\">12 Throgmorton Avenue, L<span class=\"_ _2\"></span>ondon EC2N 2DL, United Kingdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsae9\">21 <span class=\"_ _16\"> </span><span class=\"fc8 ls11 ws11\">One Coleman Street, London, EC2R 5AA, United Kingdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaea\">22 <span class=\"_ _107\"> </span><span class=\"fc8\">Se<span class=\"_ _0\"></span>nator H<span class=\"_ _0\"></span>ouse<span class=\"_ _0\"></span>, 85 Q<span class=\"_ _0\"></span>ueen V<span class=\"_ _0\"></span>ictor<span class=\"_ _0\"></span>ia Stre<span class=\"_ _0\"></span>et, Lon<span class=\"_ _0\"></span>don<span class=\"_ _0\"></span>, EC4V 4AB<span class=\"_ _0\"></span>, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaeb\">23 <span class=\"_ _107\"> </span><span class=\"fc8\">5, Al<span class=\"_ _0\"></span>l\u00e9e S<span class=\"_ _0\"></span>chef<span class=\"_ _0\"></span>fer, L<span class=\"_ _4\"></span>-2520 Lux<span class=\"_ _0\"></span>embo<span class=\"_ _0\"></span>urg, Lu<span class=\"_ _0\"></span>xemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls10b wsb1 gsaec\">24 <span class=\"_ _107\"> </span><span class=\"fc8 ls1 ws1\">Kin<span class=\"_ _0\"></span>gs Pla<span class=\"_ _0\"></span>ce, 9<span class=\"_ _0\"></span>0 Y<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>k Way<span class=\"_ _2\"></span>, Lo<span class=\"_ _0\"></span>ndon<span class=\"_ _0\"></span>, N1 9G<span class=\"_ _0\"></span>E, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaed\">25 <span class=\"_ _107\"> </span><span class=\"fc8\">Eliza<span class=\"_ _0\"></span>beth H<span class=\"_ _0\"></span>ouse<span class=\"_ _0\"></span>, 9 Cas<span class=\"_ _0\"></span>tle Stre<span class=\"_ _0\"></span>et, S<span class=\"_ _0\"></span>t Helie<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>E4 2QP<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>ey<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaee\">26 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">Cannon Place, 78 Cannon Street, London, EC4N 6A<span class=\"_ _2\"></span>G, United Kingdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaef\">27 <span class=\"_ _15\"> </span><span class=\"fc8\">70 Sir J<span class=\"_ _0\"></span>ohn Ro<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>son\u2019s Qu<span class=\"_ _0\"></span>ay<span class=\"_ _2\"></span>, D<span class=\"_ _0\"></span>ublin 2<span class=\"_ _0\"></span>, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf0\">28 <span class=\"_ _27\"> </span><span class=\"fc8\">B<span class=\"_ _0\"></span>eec<span class=\"_ _0\"></span>h Gate, M<span class=\"_ _0\"></span>illfie<span class=\"_ _0\"></span>ld Lan<span class=\"_ _0\"></span>e, Lower K<span class=\"_ _0\"></span>ings<span class=\"_ _0\"></span>wood<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>ad<span class=\"_ _0\"></span>wort<span class=\"_ _0\"></span>h, Su<span class=\"_ _0\"></span>rrey, KT<span class=\"_ _0\"></span>20 6R<span class=\"_ _0\"></span>P<span class=\"_ _2\"></span>, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf1\">29 <span class=\"_ _27\"> </span><span class=\"fc8\">4<span class=\"_ _0\"></span>9, Aven<span class=\"_ _0\"></span>ue J.F. Kenne<span class=\"_ _0\"></span>dy, L<span class=\"_ _4\"></span>-18<span class=\"_ _0\"></span>55 Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg, Gr<span class=\"_ _0\"></span>and D<span class=\"_ _0\"></span>uchy of Lux<span class=\"_ _0\"></span>embo<span class=\"_ _0\"></span>urg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf2\">30 <span class=\"_ _f6\"> </span><span class=\"fc8 ls11 ws11\">Perpetual Park, P<span class=\"_ _2\"></span>erpetual Park Drive, Henley-on-<span class=\"_ _2\"></span>Thames<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span> O<span class=\"_ _0\"></span>xfordshire,<span class=\"_ _2\"></span> RG<span class=\"_ _0\"></span>9<span class=\"_ _2\"></span> 1H<span class=\"_ _0\"></span>H, United<span class=\"_ _2\"></span> King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf3\">31 <span class=\"_ _16\"> </span><span class=\"fc8\">10<span class=\"_ _0\"></span>, Ch\u00e2te<span class=\"_ _0\"></span>au d\u2019<span class=\"_ _0\"></span>Eau<span class=\"_ _0\"></span>, L<span class=\"_ _4\"></span>-33<span class=\"_ _0\"></span>64 Le<span class=\"_ _0\"></span>udela<span class=\"_ _0\"></span>nge<span class=\"_ _0\"></span>, Gran<span class=\"_ _0\"></span>d Duchy of L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf4\">32 <span class=\"_ _107\"> </span><span class=\"fc8\">Cal<span class=\"_ _0\"></span>ton Squ<span class=\"_ _0\"></span>are, 1 G<span class=\"_ _0\"></span>reen<span class=\"_ _0\"></span>side Ro<span class=\"_ _0\"></span>w, Edinbu<span class=\"_ _0\"></span>rgh, EH<span class=\"_ _0\"></span>1 3AN, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf5\">33 <span class=\"_ _27\"> </span><span class=\"fc8\">1<span class=\"_ _0\"></span>60 Q<span class=\"_ _0\"></span>uee<span class=\"_ _0\"></span>n Victo<span class=\"_ _0\"></span>ria Stre<span class=\"_ _0\"></span>et, Lo<span class=\"_ _0\"></span>ndon<span class=\"_ _0\"></span>, EC4V 4<span class=\"_ _0\"></span>LA<span class=\"_ _0\"></span>, Unite<span class=\"_ _0\"></span>d King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf6\">34 <span class=\"_ _27\"> </span><span class=\"fc8\">C<span class=\"_ _0\"></span>anon\u2019s C<span class=\"_ _0\"></span>our<span class=\"_ _0\"></span>t, 22 Vic<span class=\"_ _0\"></span>tori<span class=\"_ _0\"></span>a Stree<span class=\"_ _0\"></span>t, Ha<span class=\"_ _0\"></span>milton<span class=\"_ _0\"></span>, HM1<span class=\"_ _0\"></span>2, Ber<span class=\"_ _0\"></span>muda<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf7\">35 <span class=\"_ _27\"> </span><span class=\"fc8\">M<span class=\"_ _0\"></span>atri<span class=\"_ _0\"></span>x<span class=\"_ gs1f7\"> </span>Hous<span class=\"_ _0\"></span>e,<span class=\"_ gs1f7\"> </span>Ba<span class=\"_ _0\"></span>sing<span class=\"_ gs1f7\"> </span>Vie<span class=\"_ _0\"></span>w,<span class=\"_ gs1f7\"> </span>Basi<span class=\"_ _0\"></span>ngs<span class=\"_ _0\"></span>toke,<span class=\"_ gs1f7\"> </span>Ha<span class=\"_ _0\"></span>mpshi<span class=\"_ _0\"></span>re,<span class=\"_ gs1f7\"> </span>RG2<span class=\"_ _0\"></span>1<span class=\"_ gs1f7\"> </span>4DZ,<span class=\"_ gs1f7\"> </span>U<span class=\"_ _0\"></span>nited Ki<span class=\"_ _0\"></span>ngdo<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf8\">36 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">280 Bishopsgate, London, EC2M 4AG,<span class=\"_ _2\"></span> United Kingdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaf9\">37 <span class=\"_ _107\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>enni<span class=\"_ _0\"></span>nger<span class=\"_ _0\"></span>berg<span class=\"_ _0\"></span>, 6, Ro<span class=\"_ _0\"></span>ute De Tr\u00e8ves<span class=\"_ _0\"></span>, L<span class=\"_ _4\"></span>-263<span class=\"_ _0\"></span>3, Lu<span class=\"_ _0\"></span>xemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsafa\">38 <span class=\"_ _27\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>ennin<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>berg<span class=\"_ _0\"></span>, 6, Lo<span class=\"_ _0\"></span>u Hemm<span class=\"_ _0\"></span>er Stre<span class=\"_ _0\"></span>et, L<span class=\"_ _2\"></span>-1748, L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsafb\">39 <span class=\"_ _27\"> </span><span class=\"fc8\">Wee<span class=\"_ _0\"></span>na 85<span class=\"_ _0\"></span>0, 30<span class=\"_ _0\"></span>14 DA, R<span class=\"_ _0\"></span>otte<span class=\"_ _0\"></span>rdam<span class=\"_ _0\"></span>, Nethe<span class=\"_ _0\"></span>rlan<span class=\"_ _0\"></span>ds<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsafc\">40 <span class=\"_ _f6\"> </span><span class=\"fc8\">Hes<span class=\"_ _0\"></span>pera<span class=\"_ _0\"></span>nge, 3<span class=\"_ _0\"></span>3, r<span class=\"_ _0\"></span>ue de Ga<span class=\"_ _0\"></span>sper<span class=\"_ _0\"></span>ich, L<span class=\"_ _2\"></span>-5<span class=\"_ _0\"></span>826<span class=\"_ _0\"></span>, Luxem<span class=\"_ _0\"></span>bourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsafd\">41 <span class=\"_ _f1\"> </span><span class=\"fc8\">2<span class=\"_ _0\"></span>0, rue d<span class=\"_ _0\"></span>e la Pos<span class=\"_ _0\"></span>te, Gra<span class=\"_ _0\"></span>nd Duc<span class=\"_ _0\"></span>hy of Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g, L<span class=\"_ _4\"></span>-23<span class=\"_ _0\"></span>46<span class=\"_ _0\"></span>, Luxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsafe\">42 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">1 London Wall<span class=\"_ _2\"></span> Plac<span class=\"_ _0\"></span>e,<span class=\"_ _2\"></span> London, EC2Y 5AU,<span class=\"_ _2\"></span> United Kingdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsaff\">43 <span class=\"_ _27\"> </span><span class=\"fc8 ls4d wsbf\">Senningerberg, 5, Hohenhof<span class=\"_ _2\"></span>, L<span class=\"_ _4\"></span>-1<span class=\"_ _2\"></span>736<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span> Luxembourg<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb00\">4<span class=\"_ _0\"></span>4 <span class=\"_ _f6\"> </span><span class=\"fc8\">33 Si<span class=\"_ _0\"></span>r John Ro<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>sons Q<span class=\"_ _0\"></span>uay, Dub<span class=\"_ _0\"></span>lin, D<span class=\"_ _0\"></span>02 XK09<span class=\"_ _0\"></span>, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb01\">45 <span class=\"_ _27\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>t. Pete<span class=\"_ _0\"></span>r Port<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>udo<span class=\"_ _0\"></span>r Hous<span class=\"_ _0\"></span>e, Le Bo<span class=\"_ _0\"></span>rdag<span class=\"_ _0\"></span>e, GY1 6B<span class=\"_ _0\"></span>D, Gue<span class=\"_ _0\"></span>rnse<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb02\">46 <span class=\"_ _27\"> </span><span class=\"fc8\">Hig<span class=\"_ _0\"></span>hvis<span class=\"_ _0\"></span>ta Stra<span class=\"_ _0\"></span>tegi<span class=\"_ _0\"></span>es LLC, 20<span class=\"_ _0\"></span>0 Clare<span class=\"_ _0\"></span>ndon S<span class=\"_ _0\"></span>treet 5<span class=\"_ _0\"></span>0th F<span class=\"_ _0\"></span>loor, Bos<span class=\"_ _0\"></span>ton<span class=\"_ _0\"></span>, Mas<span class=\"_ _0\"></span>sach<span class=\"_ _0\"></span>uset<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, 0211<span class=\"_ _0\"></span>6, Un<span class=\"_ _0\"></span>ited St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb03\">47 <span class=\"_ _107\"> </span><span class=\"fc8\">C<span class=\"_ _0\"></span>orpo<span class=\"_ _0\"></span>ratio<span class=\"_ _0\"></span>n T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Cen<span class=\"_ _0\"></span>tre, 12<span class=\"_ _0\"></span>90 Or<span class=\"_ _0\"></span>ang<span class=\"_ _0\"></span>e Stree<span class=\"_ _0\"></span>t, Wilm<span class=\"_ _0\"></span>ingt<span class=\"_ _0\"></span>on, 1<span class=\"_ _0\"></span>980<span class=\"_ _0\"></span>1, Un<span class=\"_ _0\"></span>ited St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb04\">48 <span class=\"_ _27\"> </span><span class=\"fc8\">c/o Mar<span class=\"_ _0\"></span>ks and S<span class=\"_ _0\"></span>penc<span class=\"_ _0\"></span>er Uni<span class=\"_ _0\"></span>t T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent Lim<span class=\"_ _0\"></span>ited<span class=\"_ _0\"></span>, Kings M<span class=\"_ _0\"></span>ead<span class=\"_ _0\"></span>ow, Ches<span class=\"_ _0\"></span>ter Bu<span class=\"_ _0\"></span>sine<span class=\"_ _0\"></span>ss Park<span class=\"_ _0\"></span>, Che<span class=\"_ _0\"></span>ster, CH<span class=\"_ _0\"></span>99 9<span class=\"_ _0\"></span>FB, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb05\">49 <span class=\"_ _27\"> </span><span class=\"fc8\">16 C<span class=\"_ _0\"></span>harl<span class=\"_ _0\"></span>otte S<span class=\"_ _0\"></span>quare<span class=\"_ _0\"></span>, Edinb<span class=\"_ _0\"></span>urgh<span class=\"_ _0\"></span>, EH2 4D<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb06\">50 <span class=\"_ _f6\"> </span><span class=\"fc8\">Cor<span class=\"_ _0\"></span>pora<span class=\"_ _0\"></span>tion S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce Co<span class=\"_ _0\"></span>mpany, 251 Li<span class=\"_ _0\"></span>ttl<span class=\"_ _0\"></span>e Falls Dr<span class=\"_ _0\"></span>ive, Wi<span class=\"_ _0\"></span>lming<span class=\"_ _0\"></span>ton, D<span class=\"_ _0\"></span>E 19<span class=\"_ _0\"></span>808<span class=\"_ _0\"></span>, Uni<span class=\"_ _0\"></span>ted St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 lsbf wsc1 gsb07\">51 <span class=\"_ _16\"> </span><span class=\"fc8 ls1 ws1\">4<span class=\"_ _0\"></span>4 Espl<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>e, St He<span class=\"_ _0\"></span>lier, Jer<span class=\"_ _0\"></span>sey, Ch<span class=\"_ _0\"></span>anne<span class=\"_ _0\"></span>l Islan<span class=\"_ _0\"></span>ds, J<span class=\"_ _0\"></span>E4 9WG, J<span class=\"_ _0\"></span>erse<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb08\">52 <span class=\"_ _107\"> </span><span class=\"fc8\">50 Lot<span class=\"_ _0\"></span>hian Ro<span class=\"_ _0\"></span>ad, Fe<span class=\"_ _0\"></span>stiva<span class=\"_ _0\"></span>l Squ<span class=\"_ _0\"></span>are, Edi<span class=\"_ _0\"></span>nburg<span class=\"_ _0\"></span>h, EH3 9<span class=\"_ _0\"></span>W<span class=\"_ _2\"></span>J, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb09\">53 <span class=\"_ _27\"> </span><span class=\"fc8\">5<span class=\"_ _0\"></span>5 Gres<span class=\"_ _0\"></span>ham St<span class=\"_ _0\"></span>reet<span class=\"_ _0\"></span>, Londo<span class=\"_ _0\"></span>n, EC2V 7<span class=\"_ _0\"></span>EL, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsb0a\">54 <span class=\"_ _27\"> </span><span class=\"fc8\">1 Wa<span class=\"_ _0\"></span>ll Plac<span class=\"_ _0\"></span>e, Lon<span class=\"_ _0\"></span>don, EC<span class=\"_ _0\"></span>2Y 5AU, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb0c\">The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies have bee<span class=\"_ _0\"></span>n granted an a<span class=\"_ _0\"></span>udit exemption by pa<span class=\"_ _0\"></span>rental gua<span class=\"_ _0\"></span>rantee by vir<span class=\"_ _0\"></span>tue of s.479A of the C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s Act 20<span class=\"_ _0\"></span>06:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb0d\">\u2022 <span class=\"_ _19\"> </span>Brit<span class=\"_ _0\"></span>annic Fina<span class=\"_ _0\"></span>nce Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb0e\">\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">Britan<span class=\"_ _0\"></span>nic<span class=\"_ _2\"></span> M<span class=\"_ _0\"></span>oney Inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment Ser<span class=\"_ _0\"></span>vices Limited<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb0f\">\u2022 <span class=\"_ _19\"> </span>G Life H Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb10\">\u2022 <span class=\"_ _19\"> </span>G As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e &amp; P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsions S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb11\">\u2022 <span class=\"_ _19\"> </span>Pearl A<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce Group H<span class=\"_ _0\"></span>oldings Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb12\">\u2022 <span class=\"_ _19\"> </span>Pearl C<span class=\"_ _0\"></span>ustomer C<span class=\"_ _0\"></span>are Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb13\">\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>H CA Limited (previo<span class=\"_ _0\"></span>usly known a<span class=\"_ _0\"></span>s Sun Life of Canad<span class=\"_ _0\"></span>a UK Holdin<span class=\"_ _0\"></span>gs Limited)<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb14\">\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>MS (Glas<span class=\"_ _0\"></span>gow) Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb15\">\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>S 2 Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb16\">\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Cus<span class=\"_ _0\"></span>tomer Care Lim<span class=\"_ _0\"></span>ited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb17\">\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 1 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb18\">\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 2 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb19\">\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 3 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb1a\">\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 4 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb1b\">\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Wealth H<span class=\"_ _0\"></span>oldings Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb1c\">\u2022 <span class=\"_ _19\"> </span>ReA<span class=\"_ _0\"></span>ssure Co<span class=\"_ _0\"></span>mpanies S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb1d\">\u2022 <span class=\"_ _19\"> </span>ReA<span class=\"_ _0\"></span>ssure FSH U<span class=\"_ _0\"></span>K Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb1e\">\u2022 <span class=\"_ _19\"> </span>V<span class=\"_ _2\"></span>eb<span class=\"_ _0\"></span>net Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb1f\">The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies were diss<span class=\"_ _0\"></span>olved during t<span class=\"_ _0\"></span>he perio<span class=\"_ _0\"></span>d. The subsi<span class=\"_ _0\"></span>diaries were de<span class=\"_ _0\"></span>conso<span class=\"_ _0\"></span>lidated from the d<span class=\"_ _0\"></span>ate of dissolut<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb20\">\u2022 <span class=\"_ _19\"> </span>abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Govern<span class=\"_ _0\"></span>ment All Stocks Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb21\">\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) UK Cor<span class=\"_ _0\"></span>porate Bon<span class=\"_ _0\"></span>d T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb22\">\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) European T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb23\">\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) European T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st II<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb24\">\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Global R<span class=\"_ _0\"></span>EIT Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb25\">\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Japan Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb26\">\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Sterling Interm<span class=\"_ _0\"></span>ediate Cred<span class=\"_ _0\"></span>it F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb27\">\u2022 <span class=\"_ _19\"> </span>PC M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb28\">The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies were eithe<span class=\"_ _0\"></span>r fully dispo<span class=\"_ _0\"></span>sed of or the G<span class=\"_ _0\"></span>roup was no lon<span class=\"_ _0\"></span>ger de<span class=\"_ _0\"></span>emed to co<span class=\"_ _0\"></span>ntrol the subsidi<span class=\"_ _0\"></span>ary. The subs<span class=\"_ _0\"></span>idiaries were </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb29\">dec<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted from eithe<span class=\"_ _0\"></span>r the date of dispo<span class=\"_ _0\"></span>sal or from the d<span class=\"_ _0\"></span>ate when the Gro<span class=\"_ _0\"></span>up was deem<span class=\"_ _0\"></span>ed to no lon<span class=\"_ _0\"></span>ger contro<span class=\"_ _0\"></span>l the subsidia<span class=\"_ _0\"></span>ry<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb2a\">\u2022 <span class=\"_ _19\"> </span>28 Rib<span class=\"_ _0\"></span>eria de Loira S<span class=\"_ _0\"></span>L<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb2b\">\u2022 <span class=\"_ _19\"> </span>33<span class=\"_ _0\"></span>0 Avenida de Ara<span class=\"_ _0\"></span>gon SL<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb2c\">\u2022 <span class=\"_ _19\"> </span>Amun<span class=\"_ _0\"></span>di MSCI Worl<span class=\"_ _0\"></span>d Climate T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>nsition CTB<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb2d\">\u2022 <span class=\"_ _19\"> </span>G Park M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Com<span class=\"_ _0\"></span>pany Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb2e\">\u2022 <span class=\"_ _19\"> </span>IFS<span class=\"_ _0\"></span>L AMR O<span class=\"_ _0\"></span>EIC- IFS<span class=\"_ _0\"></span>L AR Diversifie<span class=\"_ _0\"></span>d Port<span class=\"_ _0\"></span>folio<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb2f\">\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al and Ge<span class=\"_ _0\"></span>neral Grow<span class=\"_ _0\"></span>th T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb30\">\u2022 <span class=\"_ _19\"> </span>BN<span class=\"_ _0\"></span>Y Mellon 50/50 G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Fund </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb31\">\u2022 <span class=\"_ _19\"> </span>Aviva Inves<span class=\"_ _0\"></span>tors UK Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Fee<span class=\"_ _0\"></span>der T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb32\">\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>BS Global O<span class=\"_ _0\"></span>ptimal Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb33\">\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>LA Irela<span class=\"_ _0\"></span>nd No.1 S.<span class=\"_ _0\"></span>\u00e0.r<span class=\"_ _2\"></span>.l<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb34\">The follow<span class=\"_ _0\"></span>ing ass<span class=\"_ _0\"></span>ociates were dis<span class=\"_ _0\"></span>solved d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod. The inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in asso<span class=\"_ _0\"></span>ciates were dere<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed from the d<span class=\"_ _0\"></span>ate of dissolut<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb35\">\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty R<span class=\"_ _0\"></span>EIT Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb36\">\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty E<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>s Holding<span class=\"_ _0\"></span>s Limited </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb37\">\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty E<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>s Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb38\">\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty F<span class=\"_ _0\"></span>inance H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb39\">\u2022 <span class=\"_ _19\"> </span>D<span class=\"_ _0\"></span>uk<span class=\"_ _2\"></span>e Dis<span class=\"_ _0\"></span>tribution C<span class=\"_ _0\"></span>entres S<span class=\"_ _0\"></span>.\u00e0.r.l.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb3a\">\u2022 <span class=\"_ _19\"> </span>D<span class=\"_ _0\"></span>uk<span class=\"_ _2\"></span>e Of<span class=\"_ _0\"></span>fices &amp; D<span class=\"_ _0\"></span>evelopme<span class=\"_ _0\"></span>nts S.<span class=\"_ _0\"></span>\u00e0.r<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>l.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb3b\">The Gro<span class=\"_ _0\"></span>up no long<span class=\"_ _0\"></span>er has sign<span class=\"_ _0\"></span>ificant hol<span class=\"_ _0\"></span>dings in the follow<span class=\"_ _0\"></span>ing under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb3c\">\u2022 <span class=\"_ _19\"> </span>abrdn A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n Income Equ<span class=\"_ _0\"></span>ity Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb3d\">\u2022 <span class=\"_ _19\"> </span>abrdn G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb3e\">\u2022 <span class=\"_ _19\"> </span>abrdn U<span class=\"_ _0\"></span>K Governme<span class=\"_ _0\"></span>nt Bond Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb3f\">\u2022 <span class=\"_ _19\"> </span>abrdn U<span class=\"_ _0\"></span>K Incom<span class=\"_ _0\"></span>e Uncon<span class=\"_ _0\"></span>straine<span class=\"_ _0\"></span>d Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb40\">\u2022 <span class=\"_ _19\"> </span>abrdn I<span class=\"_ _0\"></span>nv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment G<span class=\"_ _0\"></span>rade Co<span class=\"_ _0\"></span>rporate Bon<span class=\"_ _0\"></span>d Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb41\">\u2022 <span class=\"_ _19\"> </span>abrdn Em<span class=\"_ _0\"></span>erging M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Local Cur<span class=\"_ _0\"></span>rency Bo<span class=\"_ _0\"></span>nd T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb42\">\u2022 <span class=\"_ _19\"> </span>CF M<span class=\"_ _0\"></span>acqua<span class=\"_ _0\"></span>ries Globa<span class=\"_ _0\"></span>l Infrastr<span class=\"_ _0\"></span>ucture S<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb43\">\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>chroder G<span class=\"_ _0\"></span>lobal Emerg<span class=\"_ _0\"></span>ing Markets Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb44\">\u2022 <span class=\"_ _19\"> </span>Inves<span class=\"_ _0\"></span>co Globa<span class=\"_ _0\"></span>l T<span class=\"_ _4\"></span>argete<span class=\"_ _0\"></span>d Returns Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb45\">\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Marks and S<span class=\"_ _0\"></span>pence<span class=\"_ _0\"></span>r W<span class=\"_ _2\"></span>orl<span class=\"_ _0\"></span>dwide Man<span class=\"_ _0\"></span>aged Fund<span class=\"_ _0\"></span>L<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gal &amp; Ge<span class=\"_ _0\"></span>neral Europ<span class=\"_ _0\"></span>ean Index L ACC<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb46\">\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al &amp; Gene<span class=\"_ _0\"></span>ral Future World Sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le UK Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb47\">\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al &amp; Gene<span class=\"_ _0\"></span>ral Europea<span class=\"_ _0\"></span>n Index L ACC<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsb48\">\u2022 <span class=\"_ _19\"> </span>No<span class=\"_ _0\"></span>mura Ameri<span class=\"_ _0\"></span>can Cent<span class=\"_ _0\"></span>ury C<span class=\"_ _0\"></span>oncentr<span class=\"_ _0\"></span>ated Globa<span class=\"_ _0\"></span>l Growth Equi<span class=\"_ _0\"></span>ty Fund</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-686": {
   "value": "<div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs180\">Subs<span class=\"_ _0\"></span>idiaries are c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d from the date th<span class=\"_ _0\"></span>at effec<span class=\"_ _0\"></span>tive control is obt<span class=\"_ _0\"></span>ained by the G<span class=\"_ _0\"></span>roup (see Ba<span class=\"_ _0\"></span>sis of consoli<span class=\"_ _0\"></span>dation in note A<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span>) and are </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa61\">exclude<span class=\"_ _0\"></span>d from con<span class=\"_ _0\"></span>solidation fro<span class=\"_ _0\"></span>m the date they ce<span class=\"_ _0\"></span>ase to be sub<span class=\"_ _0\"></span>sidiar<span class=\"_ _0\"></span>y under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s. For subsi<span class=\"_ _0\"></span>diaries disp<span class=\"_ _0\"></span>osed of durin<span class=\"_ _0\"></span>g the year<span class=\"_ _2\"></span>, any dif<span class=\"_ _0\"></span>ferenc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa62\">arisin<span class=\"_ _0\"></span>g from the rec<span class=\"_ _0\"></span>ognition of the n<span class=\"_ _0\"></span>et proce<span class=\"_ _0\"></span>eds<span class=\"_ _0\"></span>, recogn<span class=\"_ _0\"></span>ition of the fair valu<span class=\"_ _0\"></span>e o<span class=\"_ _2\"></span>f any ret<span class=\"_ _0\"></span>ained intere<span class=\"_ _0\"></span>st and de<span class=\"_ _0\"></span>recog<span class=\"_ _0\"></span>nition of the car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa63\">of the subs<span class=\"_ _0\"></span>idiary in<span class=\"_ _0\"></span>cluding n<span class=\"_ _0\"></span>on-controllin<span class=\"_ _0\"></span>g interest<span class=\"_ _0\"></span>s, is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa64\">The Gro<span class=\"_ _0\"></span>up uses the a<span class=\"_ _0\"></span>cquisitio<span class=\"_ _0\"></span>n method to a<span class=\"_ _0\"></span>ccount for th<span class=\"_ _0\"></span>e acquisitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f s<span class=\"_ _0\"></span>ubsidiaries<span class=\"_ _0\"></span>. The co<span class=\"_ _0\"></span>st of an acqui<span class=\"_ _0\"></span>sition is mea<span class=\"_ _0\"></span>sured at the f<span class=\"_ _0\"></span>air value of the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa65\">con<span class=\"_ _0\"></span>sideration<span class=\"_ _0\"></span>. Any exces<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e cost of ac<span class=\"_ _0\"></span>quisition over th<span class=\"_ _0\"></span>e fair value of the net a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d is recog<span class=\"_ _0\"></span>nised as g<span class=\"_ _0\"></span>oodwill. I<span class=\"_ _0\"></span>n cer<span class=\"_ _0\"></span>tain acqui<span class=\"_ _0\"></span>sitions </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa66\">an exce<span class=\"_ _0\"></span>ss of the acq<span class=\"_ _0\"></span>uirer\u2019<span class=\"_ _2\"></span>s inte<span class=\"_ _0\"></span>rest in the n<span class=\"_ _0\"></span>et fair value of the ac<span class=\"_ _0\"></span>quiree\u2019s identifiab<span class=\"_ _0\"></span>le asset<span class=\"_ _0\"></span>s, lia<span class=\"_ _0\"></span>bilities, c<span class=\"_ _0\"></span>ontinge<span class=\"_ _0\"></span>nt liabilities an<span class=\"_ _0\"></span>d non-cont<span class=\"_ _0\"></span>rolling </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa67\">interes<span class=\"_ _0\"></span>ts over cos<span class=\"_ _0\"></span>t may arise<span class=\"_ _0\"></span>. Where this oc<span class=\"_ _0\"></span>curs<span class=\"_ _0\"></span>, the surplu<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e fair value of net a<span class=\"_ _0\"></span>ssets a<span class=\"_ _0\"></span>cquired over th<span class=\"_ _0\"></span>e fair value of the c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>ation is </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa68\">rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa69\">Direc<span class=\"_ _0\"></span>tly at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le acquisit<span class=\"_ _0\"></span>ion cost<span class=\"_ _0\"></span>s are include<span class=\"_ _0\"></span>d within admin<span class=\"_ _0\"></span>istrative exp<span class=\"_ _0\"></span>enses<span class=\"_ _0\"></span>, except for a<span class=\"_ _0\"></span>cquisition<span class=\"_ _0\"></span>s under<span class=\"_ _0\"></span>taken prior to 201<span class=\"_ _0\"></span>0 when the<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa6a\">are incl<span class=\"_ _0\"></span>uded within th<span class=\"_ _0\"></span>e cost of the a<span class=\"_ _0\"></span>cquisitio<span class=\"_ _0\"></span>n. Cos<span class=\"_ _0\"></span>ts direc<span class=\"_ _0\"></span>tly related to th<span class=\"_ _0\"></span>e issuing of de<span class=\"_ _0\"></span>bt or equit<span class=\"_ _0\"></span>y sec<span class=\"_ _0\"></span>urities are inc<span class=\"_ _0\"></span>luded with<span class=\"_ _0\"></span>in the initial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa6b\">car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mount of debt or e<span class=\"_ _0\"></span>quity s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s where the<span class=\"_ _0\"></span>se are not car<span class=\"_ _0\"></span>ried at fair valu<span class=\"_ _0\"></span>e. Intra-g<span class=\"_ _0\"></span>roup balan<span class=\"_ _0\"></span>ces and in<span class=\"_ _0\"></span>come and ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s arising from </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa6c\">intra-<span class=\"_ _0\"></span>group trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s are eliminate<span class=\"_ _0\"></span>d in preparing t<span class=\"_ _0\"></span>he conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa6d\">The Gro<span class=\"_ _0\"></span>up has investe<span class=\"_ _0\"></span>d in a number of c<span class=\"_ _0\"></span>ollecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes s<span class=\"_ _0\"></span>uch as Op<span class=\"_ _0\"></span>en-end<span class=\"_ _0\"></span>ed Investm<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>anies (\u2018O<span class=\"_ _0\"></span>EICs\u2019), uni<span class=\"_ _0\"></span>t trust<span class=\"_ _0\"></span>s, So<span class=\"_ _0\"></span>ci\u00e9t\u00e9 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa6e\">d\u2019<span class=\"_ _0\"></span>Investis<span class=\"_ _0\"></span>seme<span class=\"_ _0\"></span>nt \u00e0 Capital Variable (<span class=\"_ _0\"></span>\u2018SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>Vs<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>), investm<span class=\"_ _0\"></span>ent trust<span class=\"_ _0\"></span>s and private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds. T<span class=\"_ _0\"></span>hese inves<span class=\"_ _0\"></span>t mainly in eq<span class=\"_ _0\"></span>uities, b<span class=\"_ _0\"></span>onds<span class=\"_ _0\"></span>, proper<span class=\"_ _0\"></span>ty a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa6f\">ca<span class=\"_ _0\"></span>sh and cas<span class=\"_ _0\"></span>h equivale<span class=\"_ _0\"></span>nts. Th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>ercenta<span class=\"_ _0\"></span>ge owner<span class=\"_ _0\"></span>ship in thes<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive investment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s can fluc<span class=\"_ _0\"></span>tuate acc<span class=\"_ _0\"></span>ording to the leve<span class=\"_ _0\"></span>l o<span class=\"_ _2\"></span>f </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa70\">Group an<span class=\"_ _0\"></span>d third par<span class=\"_ _0\"></span>ty pa<span class=\"_ _0\"></span>rticip<span class=\"_ _0\"></span>ation in the str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>s.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa71\">When a<span class=\"_ _0\"></span>sses<span class=\"_ _0\"></span>sing contro<span class=\"_ _0\"></span>l ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt scheme<span class=\"_ _0\"></span>s, the G<span class=\"_ _0\"></span>roup consi<span class=\"_ _0\"></span>ders tho<span class=\"_ _0\"></span>se factor<span class=\"_ _0\"></span>s describ<span class=\"_ _0\"></span>ed unde<span class=\"_ _0\"></span>r the Basis of co<span class=\"_ _0\"></span>nsolidatio<span class=\"_ _0\"></span>n in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa72\">note A1. In par<span class=\"_ _0\"></span>ticular, the Group c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>s the sco<span class=\"_ _0\"></span>pe of its dec<span class=\"_ _0\"></span>ision-makin<span class=\"_ _0\"></span>g authori<span class=\"_ _0\"></span>ty, including t<span class=\"_ _0\"></span>he existen<span class=\"_ _0\"></span>ce of subst<span class=\"_ _0\"></span>antive rights (su<span class=\"_ _0\"></span>ch as power </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa73\">of veto, liquida<span class=\"_ _0\"></span>tion rights an<span class=\"_ _0\"></span>d the right to rem<span class=\"_ _0\"></span>o<span class=\"_ _2\"></span>ve th<span class=\"_ _0\"></span>e fund man<span class=\"_ _0\"></span>ager) that give it t<span class=\"_ _0\"></span>he abilit<span class=\"_ _0\"></span>y to direct the re<span class=\"_ _0\"></span>levant acti<span class=\"_ _0\"></span>vities of the inves<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa74\">as<span class=\"_ _0\"></span>sessm<span class=\"_ _0\"></span>ent of whether r<span class=\"_ _0\"></span>ights are sub<span class=\"_ _0\"></span>stantive rig<span class=\"_ _0\"></span>hts, an<span class=\"_ _0\"></span>d the circums<span class=\"_ _0\"></span>tanc<span class=\"_ _0\"></span>es under whic<span class=\"_ _0\"></span>h the Group ha<span class=\"_ _0\"></span>s the prac<span class=\"_ _0\"></span>tical abili<span class=\"_ _0\"></span>ty to exercis<span class=\"_ _0\"></span>e them, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa75\">require<span class=\"_ _0\"></span>s the exercise of j<span class=\"_ _0\"></span>udgeme<span class=\"_ _0\"></span>nt. This as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sment incl<span class=\"_ _0\"></span>udes a qualit<span class=\"_ _0\"></span>ative consid<span class=\"_ _0\"></span>eration of the rig<span class=\"_ _0\"></span>hts held by th<span class=\"_ _0\"></span>e Group that are a<span class=\"_ _0\"></span>tta<span class=\"_ _0\"></span>ched to its </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa76\">holdin<span class=\"_ _0\"></span>gs in the co<span class=\"_ _0\"></span>llective inves<span class=\"_ _0\"></span>tment sc<span class=\"_ _0\"></span>hemes<span class=\"_ _0\"></span>, rights th<span class=\"_ _0\"></span>at arise from c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s bet<span class=\"_ _0\"></span>ween the Gro<span class=\"_ _0\"></span>up and the enti<span class=\"_ _0\"></span>ty or fun<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa77\">man<span class=\"_ _0\"></span>ager an<span class=\"_ _0\"></span>d the rights h<span class=\"_ _0\"></span>eld by third par<span class=\"_ _0\"></span>ties<span class=\"_ _0\"></span>. In addition<span class=\"_ _0\"></span>, consid<span class=\"_ _0\"></span>eration is ma<span class=\"_ _0\"></span>de of whether t<span class=\"_ _0\"></span>he Group has d<span class=\"_ _0\"></span>e facto powe<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, for exampl<span class=\"_ _0\"></span>e, where </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa78\">third par<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s in the colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes are wide<span class=\"_ _0\"></span>ly disper<span class=\"_ _0\"></span>sed. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa79\">Where G<span class=\"_ _0\"></span>roup compa<span class=\"_ _0\"></span>nies are dee<span class=\"_ _0\"></span>med to cont<span class=\"_ _0\"></span>rol such coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes the<span class=\"_ _0\"></span>y are consoli<span class=\"_ _0\"></span>dated in the Gro<span class=\"_ _0\"></span>up financia<span class=\"_ _0\"></span>l statem<span class=\"_ _0\"></span>ents, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa7a\">with the inte<span class=\"_ _0\"></span>rests of ex<span class=\"_ _0\"></span>ternal th<span class=\"_ _0\"></span>ird parti<span class=\"_ _0\"></span>es reco<span class=\"_ _0\"></span>gnised a<span class=\"_ _0\"></span>s<span class=\"_ gs47\"> </span>a liabilit<span class=\"_ _0\"></span>y (<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>ee the ac<span class=\"_ _0\"></span>counting p<span class=\"_ _0\"></span>olicy for \u2018N<span class=\"_ _0\"></span>et ass<span class=\"_ _0\"></span>et value at<span class=\"_ _0\"></span>tributab<span class=\"_ _0\"></span>le to unitholde<span class=\"_ _0\"></span>rs in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa7b\">note E1 for fur<span class=\"_ _0\"></span>ther de<span class=\"_ _0\"></span>tails).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa7c\">Ce<span class=\"_ _0\"></span>rtain of th<span class=\"_ _0\"></span>e collec<span class=\"_ _0\"></span>tive inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s have non-cote<span class=\"_ _0\"></span>rminous p<span class=\"_ _0\"></span>eriod end<span class=\"_ _0\"></span>s and are con<span class=\"_ _0\"></span>solidated o<span class=\"_ _0\"></span>n the basis of ad<span class=\"_ _0\"></span>ditional fina<span class=\"_ _0\"></span>ncial </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa7d\">st<span class=\"_ _0\"></span>atements p<span class=\"_ _0\"></span>repared to th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gsa7e\">Portfolio transfers<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d4\">When c<span class=\"_ _0\"></span>ompletin<span class=\"_ _0\"></span>g an acquisit<span class=\"_ _0\"></span>ion, the Gro<span class=\"_ _0\"></span>up first c<span class=\"_ _0\"></span>onsider<span class=\"_ _0\"></span>s whether th<span class=\"_ _0\"></span>e acquisiti<span class=\"_ _0\"></span>on meet<span class=\"_ _0\"></span>s the definition of a bu<span class=\"_ _0\"></span>siness c<span class=\"_ _0\"></span>ombination un<span class=\"_ _0\"></span>der IFRS 3 </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d5\">Busin<span class=\"_ _0\"></span>ess C<span class=\"_ _0\"></span>ombinations<span class=\"_ _0\"></span>. IFRS 3<span class=\"_ _0\"></span>, and th<span class=\"_ _0\"></span>e use of acquis<span class=\"_ _0\"></span>ition acco<span class=\"_ _0\"></span>unting, d<span class=\"_ _0\"></span>oes not app<span class=\"_ _0\"></span>ly in circums<span class=\"_ _0\"></span>tance<span class=\"_ _0\"></span>s where the ac<span class=\"_ _0\"></span>quisition of an as<span class=\"_ _0\"></span>set or a </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gs1d6\">group of as<span class=\"_ _0\"></span>sets d<span class=\"_ _0\"></span>oes not con<span class=\"_ _0\"></span>stitute a b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, and is in<span class=\"_ _0\"></span>stead a p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio of asse<span class=\"_ _0\"></span>ts and liabili<span class=\"_ _0\"></span>ties. In s<span class=\"_ _0\"></span>uch cas<span class=\"_ _0\"></span>es, th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s p<span class=\"_ _0\"></span>olicy is to rec<span class=\"_ _0\"></span>ognise </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa7f\">and m<span class=\"_ _0\"></span>easure the a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s acquired a<span class=\"_ _0\"></span>nd liabilities a<span class=\"_ _0\"></span>ssume<span class=\"_ _0\"></span>d in accord<span class=\"_ _0\"></span>ance with th<span class=\"_ _0\"></span>e Group\u2019s accountin<span class=\"_ _0\"></span>g policies fo<span class=\"_ _0\"></span>r those as<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities<span class=\"_ _0\"></span>. The </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa80\">diffe<span class=\"_ _0\"></span>rence be<span class=\"_ _0\"></span>twee<span class=\"_ _0\"></span>n the consid<span class=\"_ _0\"></span>eration an<span class=\"_ _0\"></span>d the net as<span class=\"_ _0\"></span>sets or lia<span class=\"_ _0\"></span>bilities acq<span class=\"_ _0\"></span>uired is rec<span class=\"_ _0\"></span>ognise<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated inc<span class=\"_ _0\"></span>ome st<span class=\"_ _0\"></span>atement.<span class=\"_ _3bd\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-606": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1 ws1 gsa82\">H2. Ac<span class=\"_ _0\"></span>quisition of Phoenix Life C<span class=\"_ _2\"></span>A H<span class=\"_ _0\"></span>oldings Limited<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa83\">On 3 Apr<span class=\"_ _0\"></span>il 2023, th<span class=\"_ _0\"></span>e Group acq<span class=\"_ _0\"></span>uired 10<span class=\"_ _0\"></span>0% of the iss<span class=\"_ _0\"></span>ued sha<span class=\"_ _0\"></span>re capital of Ph<span class=\"_ _0\"></span>oenix Life CA Hol<span class=\"_ _0\"></span>dings Limited (forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a UK </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa84\">Limited<span class=\"_ _0\"></span>) from Sun Life Ass<span class=\"_ _0\"></span>urance C<span class=\"_ _0\"></span>ompany of Can<span class=\"_ _0\"></span>ada, pa<span class=\"_ _0\"></span>rt of the S<span class=\"_ _0\"></span>un Life Financia<span class=\"_ _0\"></span>l Inc. Gro<span class=\"_ _0\"></span>up, for total cas<span class=\"_ _0\"></span>h conside<span class=\"_ _0\"></span>ration of \u00a325<span class=\"_ _0\"></span>0 million. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa85\">Phoe<span class=\"_ _0\"></span>nix Life CA Holding<span class=\"_ _0\"></span>s Limited and it<span class=\"_ _0\"></span>s subsidia<span class=\"_ _0\"></span>ries are a clos<span class=\"_ _0\"></span>ed book life in<span class=\"_ _0\"></span>surance b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s that has a p<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>folio of pensio<span class=\"_ _0\"></span>n, life and </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gsa86\">annuity produc<span class=\"_ _0\"></span>ts.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa87\">The a<span class=\"_ _0\"></span>cquisition wa<span class=\"_ _0\"></span>s in line with the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s str<span class=\"_ _0\"></span>ategy to und<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ak<span class=\"_ _2\"></span>e me<span class=\"_ _0\"></span>rgers an<span class=\"_ _0\"></span>d acquisit<span class=\"_ _0\"></span>ions (\u2018<span class=\"_ _0\"></span>M&amp;<span class=\"_ _0\"></span>A<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>) to acquire n<span class=\"_ _0\"></span>ew custo<span class=\"_ _0\"></span>mers at sc<span class=\"_ _0\"></span>ale and de<span class=\"_ _0\"></span>liver </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa88\">bet<span class=\"_ _0\"></span>ter outco<span class=\"_ _0\"></span>mes for the<span class=\"_ _0\"></span>m. The Gro<span class=\"_ _0\"></span>up also tran<span class=\"_ _0\"></span>sforms ac<span class=\"_ _0\"></span>quired busin<span class=\"_ _0\"></span>esse<span class=\"_ _0\"></span>s to deliver signific<span class=\"_ _0\"></span>ant cos<span class=\"_ _0\"></span>t and capi<span class=\"_ _0\"></span>tal syne<span class=\"_ _0\"></span>rgies, c<span class=\"_ _0\"></span>reating sig<span class=\"_ _0\"></span>nificant </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls13 ws14 gsa89\">shareholder value. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa8a\">The fa<span class=\"_ _0\"></span>ir value of identifiab<span class=\"_ _0\"></span>le asse<span class=\"_ _0\"></span>ts and ac<span class=\"_ _0\"></span>quired liabiliti<span class=\"_ _0\"></span>es assum<span class=\"_ _0\"></span>ed as at the d<span class=\"_ _0\"></span>ate o<span class=\"_ _2\"></span>f a<span class=\"_ _0\"></span>cquisition w<span class=\"_ _0\"></span>as \u00a3316 m<span class=\"_ _0\"></span>illion and a gain o<span class=\"_ _0\"></span>n acquisitio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa8b\">\u00a36<span class=\"_ _0\"></span>6 million was re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come refle<span class=\"_ _0\"></span>cting th<span class=\"_ _0\"></span>e excess of th<span class=\"_ _0\"></span>e fair value of the net a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s acquire<span class=\"_ _0\"></span>d o<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>r the consid<span class=\"_ _0\"></span>eration pai<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa8c\">for the ac<span class=\"_ _0\"></span>quisition of the Ph<span class=\"_ _0\"></span>oenix Life CA Ho<span class=\"_ _0\"></span>ldings bus<span class=\"_ _0\"></span>iness<span class=\"_ _0\"></span>es.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-607": {
   "value": "H3. A<span class=\"_ _0\"></span>ssets an<span class=\"_ _0\"></span>d liabilities classifie<span class=\"_ _0\"></span>d as held for sale The Gro<span class=\"_ _0\"></span>up class<span class=\"_ _0\"></span>ifies dispo<span class=\"_ _0\"></span>sal groups a<span class=\"_ _0\"></span>s held for sa<span class=\"_ _0\"></span>le if their car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mounts will b<span class=\"_ _0\"></span>e recovered p<span class=\"_ _0\"></span>rincipally th<span class=\"_ _0\"></span>rough a sal<span class=\"_ _0\"></span>e transa<span class=\"_ _0\"></span>ction rath<span class=\"_ _0\"></span>er than throu<span class=\"_ _0\"></span>gh continuing u<span class=\"_ _0\"></span>se. Disp<span class=\"_ _0\"></span>osal gro<span class=\"_ _0\"></span>ups class<span class=\"_ _0\"></span>ified as hel<span class=\"_ _0\"></span>d for sale are me<span class=\"_ _0\"></span>asured at th<span class=\"_ _0\"></span>e lower of their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g amount an<span class=\"_ _0\"></span>d fair value les<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s to sell<span class=\"_ _0\"></span>. Cost<span class=\"_ _0\"></span>s to sell are the in<span class=\"_ _0\"></span>crement<span class=\"_ _0\"></span>al cost<span class=\"_ _0\"></span>s directl<span class=\"_ _0\"></span>y attribu<span class=\"_ _0\"></span>table to the dis<span class=\"_ _0\"></span>posal of the di<span class=\"_ _0\"></span>sposal g<span class=\"_ _0\"></span>roup, excluding fin<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>sts an<span class=\"_ _0\"></span>d income t<span class=\"_ _0\"></span>ax expe<span class=\"_ _0\"></span>nse. As<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale are prese<span class=\"_ _0\"></span>nted sep<span class=\"_ _0\"></span>arately in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al position<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Agreement w<span class=\"_ _2\"></span>ith Aberdeen Group plc<span class=\"_ _2\"></span> On 23 Feb<span class=\"_ _0\"></span>ruar<span class=\"_ _0\"></span>y 2021<span class=\"_ _0\"></span>, the Group entere<span class=\"_ _0\"></span>d into an agre<span class=\"_ _0\"></span>ement with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc to simplif<span class=\"_ _0\"></span>y the arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ents of their St<span class=\"_ _0\"></span>rategic Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship, enab<span class=\"_ _0\"></span>ling the Group to c<span class=\"_ _0\"></span>ontrol its own dis<span class=\"_ _0\"></span>tribution<span class=\"_ _0\"></span>, marketing an<span class=\"_ _0\"></span>d brands<span class=\"_ _0\"></span>, and foc<span class=\"_ _0\"></span>using the Stra<span class=\"_ _0\"></span>tegic Par<span class=\"_ _0\"></span>tnersh<span class=\"_ _0\"></span>ip on using Abe<span class=\"_ _0\"></span>rdeen Gro<span class=\"_ _0\"></span>up plc\u2019s as<span class=\"_ _0\"></span>set mana<span class=\"_ _0\"></span>gement s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es in suppo<span class=\"_ _0\"></span>rt of Phoe<span class=\"_ _0\"></span>nix Group\u2019s growt<span class=\"_ _0\"></span>h strateg<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Un<span class=\"_ _0\"></span>der the term<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e transa<span class=\"_ _0\"></span>ction, t<span class=\"_ _0\"></span>he Group agre<span class=\"_ _0\"></span>ed to sell i<span class=\"_ _0\"></span>ts UK investm<span class=\"_ _0\"></span>ent and plat<span class=\"_ _0\"></span>form-rel<span class=\"_ _0\"></span>ated produc<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, comprisin<span class=\"_ _0\"></span>g W<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>p Self Inves<span class=\"_ _0\"></span>ted Person<span class=\"_ _0\"></span>al Pension (\u2018<span class=\"_ _0\"></span>Wrap S<span class=\"_ _0\"></span>IPP<span class=\"_ _0\"></span>\u2019), On<span class=\"_ _0\"></span>shore Bon<span class=\"_ _0\"></span>d and UK T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee Inves<span class=\"_ _0\"></span>tment Plan (<span class=\"_ _0\"></span>\u2018TIP<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>) to Aberde<span class=\"_ _0\"></span>en Group plc th<span class=\"_ _0\"></span>rough a Par<span class=\"_ _0\"></span>t VII tran<span class=\"_ _0\"></span>sfer<span class=\"_ _2\"></span>. The e<span class=\"_ _0\"></span>conomi<span class=\"_ _0\"></span>c risk and reward<span class=\"_ _0\"></span>s for this busine<span class=\"_ _0\"></span>ss tran<span class=\"_ _0\"></span>sferred to Ab<span class=\"_ _0\"></span>erdeen Group p<span class=\"_ _0\"></span>lc effec<span class=\"_ _0\"></span>tive from 1 Janua<span class=\"_ _0\"></span>ry 202<span class=\"_ _0\"></span>1 via a profit trans<span class=\"_ _0\"></span>fer arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>. Consid<span class=\"_ _0\"></span>eration re<span class=\"_ _0\"></span>ceived of \u00a362 m<span class=\"_ _0\"></span>illion in respe<span class=\"_ _0\"></span>ct of this busin<span class=\"_ _0\"></span>ess was deferre<span class=\"_ _0\"></span>d until completi<span class=\"_ _0\"></span>on of the Part VI<span class=\"_ _0\"></span>I and the paym<span class=\"_ _0\"></span>ents to Abe<span class=\"_ _0\"></span>rdeen Gro<span class=\"_ _0\"></span>up plc in resp<span class=\"_ _0\"></span>ect of the profit t<span class=\"_ _0\"></span>ransfer ar<span class=\"_ _0\"></span>range<span class=\"_ _0\"></span>ment are bein<span class=\"_ _0\"></span>g offse<span class=\"_ _0\"></span>t against the deferred consideration balanc<span class=\"_ _0\"></span>e.<span class=\"_ _3bd\"> </span>In 202<span class=\"_ _0\"></span>1, the ba<span class=\"_ _0\"></span>lances in t<span class=\"_ _0\"></span>he statem<span class=\"_ _0\"></span>ent of conso<span class=\"_ _0\"></span>lidated finan<span class=\"_ _0\"></span>cial posi<span class=\"_ _0\"></span>tion relating to th<span class=\"_ _0\"></span>e W<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>p SIPP<span class=\"_ _2\"></span>, Ons<span class=\"_ _0\"></span>hore Bond a<span class=\"_ _0\"></span>nd TIP bu<span class=\"_ _0\"></span>siness we<span class=\"_ _0\"></span>re classifi<span class=\"_ _0\"></span>ed as a disp<span class=\"_ _0\"></span>osal gro<span class=\"_ _0\"></span>up held for sal<span class=\"_ _0\"></span>e. The total pro<span class=\"_ _0\"></span>ceed<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f di<span class=\"_ _0\"></span>sposal we<span class=\"_ _0\"></span>re not expec<span class=\"_ _0\"></span>ted to exce<span class=\"_ _0\"></span>ed the ca<span class=\"_ _0\"></span>rryin<span class=\"_ _0\"></span>g value of the relate<span class=\"_ _0\"></span>d net ass<span class=\"_ _0\"></span>ets and acc<span class=\"_ _0\"></span>ordingly th<span class=\"_ _0\"></span>e disposa<span class=\"_ _0\"></span>l group was me<span class=\"_ _0\"></span>asured at f<span class=\"_ _0\"></span>air value les<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s to sell, res<span class=\"_ _0\"></span>ulting in an impair<span class=\"_ _0\"></span>ment of the acq<span class=\"_ _0\"></span>uired in-force bus<span class=\"_ _0\"></span>iness (<span class=\"_ _0\"></span>\u2018<span class=\"_ _4\"></span>A<span class=\"_ _2\"></span>VI<span class=\"_ _0\"></span>F\u2019) of \u00a359 millio<span class=\"_ _0\"></span>n at the date of the tran<span class=\"_ _0\"></span>sacti<span class=\"_ _0\"></span>on.<span class=\"_ _3bd\"> </span>Prior to 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023<span class=\"_ _0\"></span>, a re-sc<span class=\"_ _0\"></span>oping exercis<span class=\"_ _0\"></span>e was under<span class=\"_ _0\"></span>taken with Ab<span class=\"_ _0\"></span>erdeen G<span class=\"_ _0\"></span>roup plc and it w<span class=\"_ _0\"></span>as agree<span class=\"_ _0\"></span>d that the ins<span class=\"_ _0\"></span>ured fund<span class=\"_ _0\"></span>s element<span class=\"_ _0\"></span>s of the Wrap S<span class=\"_ _0\"></span>IPP and O<span class=\"_ _0\"></span>nshore Bo<span class=\"_ _0\"></span>nd busine<span class=\"_ _0\"></span>sses wo<span class=\"_ _0\"></span>uld no long<span class=\"_ _0\"></span>er trans<span class=\"_ _0\"></span>fer to Aberde<span class=\"_ _0\"></span>en Group plc<span class=\"_ _0\"></span>, and as a re<span class=\"_ _0\"></span>sult this busin<span class=\"_ _0\"></span>ess was n<span class=\"_ _0\"></span>o longe<span class=\"_ _0\"></span>r con<span class=\"_ _0\"></span>sidered to me<span class=\"_ _0\"></span>et the req<span class=\"_ _0\"></span>uirements to b<span class=\"_ _0\"></span>e class<span class=\"_ _0\"></span>ified as he<span class=\"_ _0\"></span>ld for sale. Th<span class=\"_ _0\"></span>e self-invested e<span class=\"_ _0\"></span>lement<span class=\"_ _0\"></span>s of the W<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ap SIPP b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, which a<span class=\"_ _0\"></span>re held off-ba<span class=\"_ _0\"></span>lance sh<span class=\"_ _0\"></span>eet, are s<span class=\"_ _0\"></span>till expec<span class=\"_ _0\"></span>ted to tran<span class=\"_ _0\"></span>sfer afte<span class=\"_ _0\"></span>r April 2025<span class=\"_ _0\"></span>. Following the re<span class=\"_ _0\"></span>-scopin<span class=\"_ _0\"></span>g exercise, ef<span class=\"_ _0\"></span>fect<span class=\"_ _0\"></span>ive from 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>23, onl<span class=\"_ _0\"></span>y the TIP busin<span class=\"_ _0\"></span>ess ha<span class=\"_ _0\"></span>s been cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as a dispos<span class=\"_ _0\"></span>al group he<span class=\"_ _0\"></span>ld for sale and a<span class=\"_ _0\"></span>s at 31 Dec<span class=\"_ _0\"></span>ember 20<span class=\"_ _0\"></span>2<span class=\"_ _2\"></span>4 both pa<span class=\"_ _0\"></span>rties re<span class=\"_ _0\"></span>main commi<span class=\"_ _0\"></span>tted to c<span class=\"_ _0\"></span>ompleting th<span class=\"_ _0\"></span>e transfer of the TI<span class=\"_ _0\"></span>P busines<span class=\"_ _0\"></span>s in March 202<span class=\"_ _0\"></span>5. The b<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>s relating to the Wrap S<span class=\"_ _0\"></span>IPP and O<span class=\"_ _0\"></span>nshore B<span class=\"_ _0\"></span>ond busine<span class=\"_ _0\"></span>ss have from 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023 be<span class=\"_ _0\"></span>en inclu<span class=\"_ _0\"></span>ded within th<span class=\"_ _0\"></span>e respec<span class=\"_ _0\"></span>tive line items in th<span class=\"_ _0\"></span>e conden<span class=\"_ _0\"></span>sed co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d statem<span class=\"_ _0\"></span>ent of financia<span class=\"_ _0\"></span>l position<span class=\"_ _0\"></span>. At 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, \u00a3320 million of po<span class=\"_ _0\"></span>oled prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y fund<span class=\"_ _0\"></span>s were exclude<span class=\"_ _0\"></span>d from the as<span class=\"_ _0\"></span>sets cla<span class=\"_ _0\"></span>ssified a<span class=\"_ _0\"></span>s held for sa<span class=\"_ _0\"></span>le. During th<span class=\"_ _0\"></span>e period<span class=\"_ _0\"></span>, agre<span class=\"_ _0\"></span>ement wa<span class=\"_ _0\"></span>s reache<span class=\"_ _0\"></span>d with Aberde<span class=\"_ _0\"></span>en Group to e<span class=\"_ _0\"></span>nt<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r into an Ex<span class=\"_ _0\"></span>ternal Funds Link (<span class=\"_ _0\"></span>\u2018EFL<span class=\"_ _4\"></span>\u2019<span class=\"_ _0\"></span>) reinsuran<span class=\"_ _0\"></span>ce arrang<span class=\"_ _0\"></span>ement up<span class=\"_ _0\"></span>on completi<span class=\"_ _0\"></span>on of the Part VI<span class=\"_ _0\"></span>I to provide ac<span class=\"_ _0\"></span>ces<span class=\"_ _0\"></span>s t<span class=\"_ _2\"></span>o th<span class=\"_ _0\"></span>e retaine<span class=\"_ _0\"></span>d poole<span class=\"_ _0\"></span>d proper<span class=\"_ _0\"></span>ty f<span class=\"_ _0\"></span>unds. O<span class=\"_ _0\"></span>n completio<span class=\"_ _0\"></span>n o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Part VI<span class=\"_ _0\"></span>I in 2025, a fi<span class=\"_ _0\"></span>nancial lia<span class=\"_ _0\"></span>bility will b<span class=\"_ _0\"></span>e recog<span class=\"_ _0\"></span>nised in res<span class=\"_ _0\"></span>pect of the EFL arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent. No profi<span class=\"_ _0\"></span>t or loss is exp<span class=\"_ _0\"></span>ecte<span class=\"_ _0\"></span>d to be reco<span class=\"_ _0\"></span>gnised up<span class=\"_ _0\"></span>on comple<span class=\"_ _0\"></span>tion of the Par<span class=\"_ _0\"></span>t VII and the in<span class=\"_ _0\"></span>itial reco<span class=\"_ _0\"></span>gnition of the EFL reins<span class=\"_ _0\"></span>urance arr<span class=\"_ _0\"></span>angem<span class=\"_ _0\"></span>ent. The m<span class=\"_ _0\"></span>ajor cla<span class=\"_ _0\"></span>sses of as<span class=\"_ _0\"></span>sets a<span class=\"_ _0\"></span>nd liabilities c<span class=\"_ _0\"></span>lassifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale are as follows<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span><table class=\"s wa73 h2b9\" id=\"_cd821c21-4e4b-4b56-a233-a451de907718\"><tr><td></td><td class=\"t m0 x1ce h29 y621b ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y621b ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y621c ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y621c ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a68 wd8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e19 y5a68 wa74 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,082<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e1a y5a68 w453 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,0<span class=\"_ _0\"></span>44<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a69 w3c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e1b y5a69 w1ee h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1dd ws1f7\">1,985<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e1c y5a69 w19a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">2<span class=\"_ _0\"></span>,498<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5bf4 w108 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Cas<span class=\"_ _0\"></span>h and cash e<span class=\"_ _0\"></span>quivalent<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x65e y5bf4 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">33<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e1d y5bf4 w3e3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c6 ws1de\">52<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6122 wa75 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>sets c<span class=\"_ _0\"></span>lassifi<span class=\"_ _0\"></span>ed as he<span class=\"_ _0\"></span>ld for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e1e y6122 w10e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1b9 ws1cc\">3,10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e1f y6122 w10f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">4,59<span class=\"_ _0\"></span>4<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y5bd8 wa76 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">As<span class=\"_ _0\"></span>sets in co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d funds</div><div class=\"t m0 x1e20 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x75a y5bd8 w810 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">75<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e21 y5bd8 w39d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d4 ws1ed\">188<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5afa wa77 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s of the dis<span class=\"_ _0\"></span>posal g<span class=\"_ _0\"></span>roup<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e22 y5afa w15d h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e23 y5afa w1c2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a46 w432 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e24 y5a46 w43a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e25 y5a46 w407 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 wa78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Oth<span class=\"_ _0\"></span>er financ<span class=\"_ _0\"></span>ial liabilities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e26 y5b25 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1075 y5b25 w518 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wa79 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls5f ws122\">Liabilit<span class=\"_ _2\"></span>ies classified as held for sale<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e27 y5a16 wa7a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">(<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>,17<span class=\"_ _0\"></span>5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e28 y5a16 w407 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">(<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>,78<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span> Inc<span class=\"_ _0\"></span>lude<span class=\"_ _0\"></span>d in ass<span class=\"_ _0\"></span>ets of th<span class=\"_ _0\"></span>e disp<span class=\"_ _0\"></span>osal g<span class=\"_ _0\"></span>roup are a<span class=\"_ _0\"></span>sse<span class=\"_ _0\"></span>ts in co<span class=\"_ _0\"></span>nsoli<span class=\"_ _0\"></span>date<span class=\"_ _0\"></span>d funds<span class=\"_ _0\"></span>, whic<span class=\"_ _0\"></span>h are he<span class=\"_ _0\"></span>ld to bac<span class=\"_ _0\"></span>k inves<span class=\"_ _0\"></span>tment c<span class=\"_ _0\"></span>ontr<span class=\"_ _0\"></span>act li<span class=\"_ _0\"></span>abilit<span class=\"_ _0\"></span>ies of th<span class=\"_ _0\"></span>e Onsh<span class=\"_ _0\"></span>ore Bon<span class=\"_ _0\"></span>d and TI<span class=\"_ _0\"></span>P bus<span class=\"_ _0\"></span>ines<span class=\"_ _0\"></span>s (and at 31 D<span class=\"_ _0\"></span>ece<span class=\"_ _0\"></span>mber 2<span class=\"_ _0\"></span>023 th<span class=\"_ _0\"></span>e W<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ap SI<span class=\"_ _0\"></span>PP bus<span class=\"_ _0\"></span>ines<span class=\"_ _0\"></span>s) and ar<span class=\"_ _0\"></span>e discl<span class=\"_ _0\"></span>ose<span class=\"_ _0\"></span>d within fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial as<span class=\"_ _0\"></span>sets i<span class=\"_ _0\"></span>n the co<span class=\"_ _0\"></span>nsoli<span class=\"_ _0\"></span>dated s<span class=\"_ _0\"></span>tate<span class=\"_ _0\"></span>ment of fi<span class=\"_ _0\"></span>nanc<span class=\"_ _0\"></span>ial pos<span class=\"_ _0\"></span>ition<span class=\"_ _0\"></span>. The G<span class=\"_ _0\"></span>roup co<span class=\"_ _0\"></span>ntrols t<span class=\"_ _0\"></span>hes<span class=\"_ _0\"></span>e funds a<span class=\"_ _0\"></span>t 31 Dec<span class=\"_ _0\"></span>emb<span class=\"_ _0\"></span>er 2024 an<span class=\"_ _0\"></span>d there<span class=\"_ _0\"></span>fore con<span class=\"_ _0\"></span>soli<span class=\"_ _0\"></span>dates 1<span class=\"_ _0\"></span>00% o<span class=\"_ _0\"></span>f the as<span class=\"_ _0\"></span>sets w<span class=\"_ _0\"></span>ith any n<span class=\"_ _0\"></span>on-c<span class=\"_ _0\"></span>ontrol<span class=\"_ _0\"></span>ling inte<span class=\"_ _0\"></span>res<span class=\"_ _0\"></span>t reco<span class=\"_ _0\"></span>gnis<span class=\"_ _0\"></span>ed as ne<span class=\"_ _0\"></span>t asse<span class=\"_ _0\"></span>t value a<span class=\"_ _0\"></span>ttr<span class=\"_ _0\"></span>ibuta<span class=\"_ _0\"></span>ble to un<span class=\"_ _0\"></span>ithol<span class=\"_ _0\"></span>ders<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-687": {
   "value": "The Gro<span class=\"_ _0\"></span>up class<span class=\"_ _0\"></span>ifies dispo<span class=\"_ _0\"></span>sal groups a<span class=\"_ _0\"></span>s held for sa<span class=\"_ _0\"></span>le if their car<span class=\"_ _0\"></span>rying a<span class=\"_ _0\"></span>mounts will b<span class=\"_ _0\"></span>e recovered p<span class=\"_ _0\"></span>rincipally th<span class=\"_ _0\"></span>rough a sal<span class=\"_ _0\"></span>e transa<span class=\"_ _0\"></span>ction rath<span class=\"_ _0\"></span>er than throu<span class=\"_ _0\"></span>gh continuing u<span class=\"_ _0\"></span>se. Disp<span class=\"_ _0\"></span>osal gro<span class=\"_ _0\"></span>ups class<span class=\"_ _0\"></span>ified as hel<span class=\"_ _0\"></span>d for sale are me<span class=\"_ _0\"></span>asured at th<span class=\"_ _0\"></span>e lower of their c<span class=\"_ _0\"></span>arryin<span class=\"_ _0\"></span>g amount an<span class=\"_ _0\"></span>d fair value les<span class=\"_ _0\"></span>s cost<span class=\"_ _0\"></span>s to sell<span class=\"_ _0\"></span>. Cost<span class=\"_ _0\"></span>s to sell are the in<span class=\"_ _0\"></span>crement<span class=\"_ _0\"></span>al cost<span class=\"_ _0\"></span>s directl<span class=\"_ _0\"></span>y attribu<span class=\"_ _0\"></span>table to the dis<span class=\"_ _0\"></span>posal of the di<span class=\"_ _0\"></span>sposal g<span class=\"_ _0\"></span>roup, excluding fin<span class=\"_ _0\"></span>ance co<span class=\"_ _0\"></span>sts an<span class=\"_ _0\"></span>d income t<span class=\"_ _0\"></span>ax expe<span class=\"_ _0\"></span>nse. As<span class=\"_ _0\"></span>sets an<span class=\"_ _0\"></span>d liabilities cl<span class=\"_ _0\"></span>assifie<span class=\"_ _0\"></span>d as held for s<span class=\"_ _0\"></span>ale are prese<span class=\"_ _0\"></span>nted sep<span class=\"_ _0\"></span>arately in the s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d financi<span class=\"_ _0\"></span>al position<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-639": {
   "value": "H4. Ass<span class=\"_ _0\"></span>ociates<span class=\"_ _3bd\"> </span>As<span class=\"_ _0\"></span>sociates a<span class=\"_ _0\"></span>re entities over whic<span class=\"_ _0\"></span>h the Group ha<span class=\"_ _0\"></span>s significa<span class=\"_ _0\"></span>nt influenc<span class=\"_ _0\"></span>e, but which it d<span class=\"_ _0\"></span>oes not co<span class=\"_ _0\"></span>ntrol. Gene<span class=\"_ _0\"></span>rally it is pre<span class=\"_ _0\"></span>sumed th<span class=\"_ _0\"></span>at the Group ha<span class=\"_ _0\"></span>s signifi<span class=\"_ _0\"></span>cant influen<span class=\"_ _0\"></span>ce if it holds b<span class=\"_ _0\"></span>etwe<span class=\"_ _0\"></span>en 20% and 5<span class=\"_ _0\"></span>0% of the voting right<span class=\"_ _0\"></span>s of the entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>. Inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in asso<span class=\"_ _0\"></span>ciates that are h<span class=\"_ _0\"></span>eld for investm<span class=\"_ _0\"></span>ent purp<span class=\"_ _0\"></span>oses are ac<span class=\"_ _0\"></span>counted for un<span class=\"_ _0\"></span>der IFRS 9 Finan<span class=\"_ _0\"></span>cial Ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s as pe<span class=\"_ _0\"></span>rmitte<span class=\"_ _0\"></span>d by IAS 28 Inves<span class=\"_ _0\"></span>tments in A<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ates and Joint Ventures. The<span class=\"_ _0\"></span>se are mea<span class=\"_ _0\"></span>sured at fair va<span class=\"_ _0\"></span>lue through p<span class=\"_ _0\"></span>rofit or loss<span class=\"_ _0\"></span>. Those h<span class=\"_ _0\"></span>eld for str<span class=\"_ _0\"></span>ategic purp<span class=\"_ _0\"></span>oses are a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r using the e<span class=\"_ _0\"></span>quity m<span class=\"_ _0\"></span>ethod of acc<span class=\"_ _0\"></span>ounting<span class=\"_ _0\"></span>. Under the e<span class=\"_ _0\"></span>quity m<span class=\"_ _0\"></span>ethod, o<span class=\"_ _0\"></span>n initial reco<span class=\"_ _0\"></span>gnition th<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment in an a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iate is recog<span class=\"_ _0\"></span>nised at c<span class=\"_ _0\"></span>ost. T<span class=\"_ _0\"></span>he carr<span class=\"_ _0\"></span>ying valu<span class=\"_ _0\"></span>e is then update<span class=\"_ _0\"></span>d to reflec<span class=\"_ _0\"></span>t the Group\u2019s share of profit o<span class=\"_ _0\"></span>r loss of its a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ate and that sh<span class=\"_ _0\"></span>are is reco<span class=\"_ _0\"></span>gnised in th<span class=\"_ _0\"></span>e consoli<span class=\"_ _0\"></span>dated inco<span class=\"_ _0\"></span>me state<span class=\"_ _0\"></span>ment.<span class=\"_ _3bd\"> </span>H4.1 Inve<span class=\"_ _0\"></span>stme<span class=\"_ _0\"></span>nt in UK co<span class=\"_ _0\"></span>mmer<span class=\"_ _0\"></span>cial pr<span class=\"_ _0\"></span>oper<span class=\"_ _0\"></span>ty R<span class=\"_ _0\"></span>EIT (\u2018<span class=\"_ _0\"></span>UKCPR<span class=\"_ _0\"></span>\u2019) In May 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, T<span class=\"_ _4\"></span>rita<span class=\"_ _0\"></span>x Big Box REIT p<span class=\"_ _0\"></span>lc (\u2018B<span class=\"_ _0\"></span>BOX\u2019<span class=\"_ _0\"></span>) acquired t<span class=\"_ _0\"></span>he entire share c<span class=\"_ _0\"></span>apital of U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y REIT Limited (<span class=\"_ _0\"></span>\u2018U<span class=\"_ _0\"></span>K<span class=\"_ _2\"></span>CPR<span class=\"_ _0\"></span>\u2019) a p<span class=\"_ _0\"></span>roper<span class=\"_ _0\"></span>ty investm<span class=\"_ _0\"></span>ent compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y d<span class=\"_ _0\"></span>omiciled in G<span class=\"_ _0\"></span>uernsey w<span class=\"_ _0\"></span>hich, up until M<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, was admit<span class=\"_ _0\"></span>ted to the of<span class=\"_ _0\"></span>ficial list of th<span class=\"_ _0\"></span>e UK Listin<span class=\"_ _0\"></span>g Authorit<span class=\"_ _0\"></span>y and to tra<span class=\"_ _0\"></span>ding on the Lond<span class=\"_ _0\"></span>on Stock E<span class=\"_ _0\"></span>xchang<span class=\"_ _0\"></span>e. Prior to compl<span class=\"_ _0\"></span>etion the Gro<span class=\"_ _0\"></span>up held 43<span class=\"_ _0\"></span>.4% of the sha<span class=\"_ _0\"></span>res of UK<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>PR and held i<span class=\"_ _0\"></span>ts investme<span class=\"_ _0\"></span>nt in the ass<span class=\"_ _0\"></span>ociate at fair va<span class=\"_ _0\"></span>lue. Upon c<span class=\"_ _0\"></span>ompletion of th<span class=\"_ _0\"></span>e all-share c<span class=\"_ _0\"></span>ombination<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>eld 10.1% of the sh<span class=\"_ _0\"></span>ares of BBOX and it w<span class=\"_ _0\"></span>as determine<span class=\"_ _0\"></span>d that it did not h<span class=\"_ _0\"></span>av<span class=\"_ _2\"></span>e si<span class=\"_ _0\"></span>gnificant influen<span class=\"_ _0\"></span>ce over BBOX<span class=\"_ _0\"></span>. Cons<span class=\"_ _0\"></span>equently, the inves<span class=\"_ _0\"></span>tment in BB<span class=\"_ _0\"></span>O<span class=\"_ _2\"></span>X is not t<span class=\"_ _0\"></span>reated as an a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ate and is inste<span class=\"_ _0\"></span>ad clas<span class=\"_ _0\"></span>sified as an inve<span class=\"_ _0\"></span>stment an<span class=\"_ _0\"></span>d include<span class=\"_ _0\"></span>d within equities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>As at 31 D<span class=\"_ _0\"></span>ecemb<span class=\"_ _0\"></span>er 2023<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>eld 43<span class=\"_ _0\"></span>.4% of the iss<span class=\"_ _0\"></span>ued share c<span class=\"_ _0\"></span>apital of U<span class=\"_ _0\"></span>K<span class=\"_ _2\"></span>CPR an<span class=\"_ _0\"></span>d the value of this inves<span class=\"_ _0\"></span>tment, m<span class=\"_ _0\"></span>easure<span class=\"_ _0\"></span>d at fair value an<span class=\"_ _0\"></span>d inclu<span class=\"_ _0\"></span>ded within fin<span class=\"_ _0\"></span>ancial as<span class=\"_ _0\"></span>sets<span class=\"_ _0\"></span>, was \u00a33<span class=\"_ _0\"></span>49 million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>H4.<span class=\"_ _0\"></span>2 Futur<span class=\"_ _0\"></span>e Grow<span class=\"_ _0\"></span>th Cap<span class=\"_ _0\"></span>ital<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g the year, the Group ann<span class=\"_ _0\"></span>ounce<span class=\"_ _0\"></span>d an agree<span class=\"_ _0\"></span>ment with S<span class=\"_ _0\"></span>chroder<span class=\"_ _0\"></span>s, to laun<span class=\"_ _0\"></span>ch Future Grow<span class=\"_ _0\"></span>th Capital (<span class=\"_ _0\"></span>\u2018FG<span class=\"_ _0\"></span>C\u2019<span class=\"_ _0\"></span>), the first p<span class=\"_ _0\"></span>rivate market investm<span class=\"_ _0\"></span>ent man<span class=\"_ _0\"></span>ager to be e<span class=\"_ _0\"></span>stablis<span class=\"_ _0\"></span>hed in the U<span class=\"_ _0\"></span>K to promote the ob<span class=\"_ _0\"></span>jecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s of the Mansi<span class=\"_ _0\"></span>on House C<span class=\"_ _0\"></span>ompac<span class=\"_ _0\"></span>t. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s inves<span class=\"_ _0\"></span>tment in FGC is thro<span class=\"_ _0\"></span>ugh a 49<span class=\"_ _0\"></span>.9% holdin<span class=\"_ _0\"></span>g in Future Grow<span class=\"_ _0\"></span>th Capital H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted and it<span class=\"_ _0\"></span>s wholly owne<span class=\"_ _0\"></span>d subsidiar<span class=\"_ _0\"></span>y unde<span class=\"_ _0\"></span>rtakin<span class=\"_ _0\"></span>g, Future Grow<span class=\"_ _0\"></span>th Capi<span class=\"_ _0\"></span>tal Limited. T<span class=\"_ _0\"></span>his investme<span class=\"_ _0\"></span>nt in the FGC a<span class=\"_ _0\"></span>ssoc<span class=\"_ _0\"></span>iate is acco<span class=\"_ _0\"></span>unted for using th<span class=\"_ _0\"></span>e equit<span class=\"_ _0\"></span>y metho<span class=\"_ _0\"></span>d in the cons<span class=\"_ _0\"></span>olidated fina<span class=\"_ _0\"></span>ncial st<span class=\"_ _0\"></span>atement<span class=\"_ _0\"></span>s. At 31 De<span class=\"_ _0\"></span>cember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group\u2019s share of the inves<span class=\"_ _0\"></span>tment is \u00a34 million and it<span class=\"_ _0\"></span>s share of the los<span class=\"_ _0\"></span>s from the as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>, include<span class=\"_ _0\"></span>d within net inves<span class=\"_ _0\"></span>tment inc<span class=\"_ _0\"></span>ome in the con<span class=\"_ _0\"></span>solidated in<span class=\"_ _0\"></span>come s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>, is \u00a3(1) million<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>Summ<span class=\"_ _0\"></span>ary c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted financi<span class=\"_ _0\"></span>al information (at 10<span class=\"_ _0\"></span>0%) for Future Grow<span class=\"_ _0\"></span>th Capit<span class=\"_ _0\"></span>al Holding<span class=\"_ _0\"></span>s Limited group i<span class=\"_ _0\"></span>s shown belo<span class=\"_ _0\"></span>w:<span class=\"_ _3bd\"> </span><table class=\"s wa7b h2ba\" id=\"_043934e1-bc2e-4526-a759-38beace888c0\"><tr><td></td><td class=\"t m0 x1cd h29 y621d ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d3 h29 y621e ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5c13 wa7c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal as<span class=\"_ _0\"></span>sets<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e29 y5c13 wcc h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c14 wa7d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>otal liabili<span class=\"_ _0\"></span>ties<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2a y5c14 w381 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c5 ws1dd\">(3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x56d h23 y621f ff3 fs6 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a16 wa7e h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1 ws1\">Los<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>r the year af<span class=\"_ _0\"></span>ter ta<span class=\"_ _0\"></span>x<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xab9 y5a16 w298 h1fc\"><div class=\"t m0 x1cf h23 y5a7a ff3 fs6 fc3 sc0 ls1cb ws1e3\">(2)<span class=\"_ _3bd\"> </span></div></td></tr></table>H6<span class=\"_ _0\"></span>. Group entitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s s<span class=\"_ _0\"></span>ubsidiaries (in<span class=\"_ _0\"></span>cluding c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es), asso<span class=\"_ _0\"></span>ciates and s<span class=\"_ _0\"></span>ignificant h<span class=\"_ _0\"></span>oldings in under<span class=\"_ _0\"></span>takin<span class=\"_ _0\"></span>gs (inclu<span class=\"_ _0\"></span>ding under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s in which the h<span class=\"_ _0\"></span>olding amo<span class=\"_ _0\"></span>unts to 20% or mo<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e nominal va<span class=\"_ _0\"></span>lue of the share<span class=\"_ _0\"></span>s or units and t<span class=\"_ _0\"></span>hey are not clas<span class=\"_ _0\"></span>sified as a s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y or ass<span class=\"_ _0\"></span>ociate).<span class=\"_ _3bd\"> </span><table class=\"s wa81 h2bc\" id=\"_31ee472f-3ac1-4260-8d61-7b56fcfab8da\"><tr><td></td><td></td><td></td><td class=\"t m0 x1e33 h29 y6224 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y6224 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x1e34 h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td></td><td class=\"t m0 x67b h29 y6226 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y6226 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y6226 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y6226 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y6227 ff3 fs6 fc3 sc0 ls1 ws1\">Subsi<span class=\"_ _0\"></span>diaries<span class=\"ff2\">:<span class=\"_ _3bd\"> </span></span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6228 wa82 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Limited (life as<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e36 y6228 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y6228 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y6228 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6229 wa85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Assur<span class=\"_ _0\"></span>ance Europ<span class=\"_ _0\"></span>e D<span class=\"_ _2\"></span>AC (life ass<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e38 y6229 w7af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e39 y6229 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3a y6229 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y622a ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life CA Limited (Form<span class=\"_ _0\"></span>erly Sun Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y622b wa86 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">of Cana<span class=\"_ _0\"></span>da (U.K<span class=\"_ _0\"></span>.)<span class=\"_ gs47\"> </span>Limited) (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3b y622b wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3c y622b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3d y622b wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622c wa8a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Re Limited (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x18e9 y622c wa8b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1e3e h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622d wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622d w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622e wa8c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Life Limited (life as<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e42 y622e wa8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e41 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622f wa8e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Limited (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e44 y622f wa8f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e43 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6230 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>urance Limite<span class=\"_ _0\"></span>d (life assur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6231 wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">comp<span class=\"_ _0\"></span>any \u2013 directly ow<span class=\"_ _0\"></span>ned by the C<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e45 y6231 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e46 y6231 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y6231 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6232 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life In<span class=\"_ _2\"></span>ternational De<span class=\"_ _0\"></span>signat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d A<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>tivity Company (life </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6233 wa92 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ompany \u2013 direc<span class=\"_ _0\"></span>tly owned by t<span class=\"_ _0\"></span>he Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e48 y6233 wa93 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin<span class=\"_ _4\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e49 y6233 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4a y6233 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6234 wa94 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Ser<span class=\"_ _0\"></span>vices Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vices c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4b y6234 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xba4 y6234 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4c y6234 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6235 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group M<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent Ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s Limited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6236 wa95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws11\">(ma<span class=\"_ _2\"></span>nagement services compan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4d y6236 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4e y6236 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4f y6236 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6237 wa97 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Irelan<span class=\"_ _0\"></span>d) Limited (mana<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nt serv<span class=\"_ _0\"></span>ices comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e51 y6237 wa98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x1e50 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6238 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6238 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6239 ff2 fs6 fc3 sc0 ls1a ws13\">Phoenix Management<span class=\"_ _2\"></span> Ser<span class=\"_ _0\"></span>vices<span class=\"_ _2\"></span> (Bermuda) L<span class=\"_ _2\"></span>imited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y623a wa95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws11\">(ma<span class=\"_ _2\"></span>nagement services compan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e53 y623a wa99 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1e52 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y623b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y623b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623c wa9a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure UK S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt ser<span class=\"_ _0\"></span>vices co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e55 y623c wa9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e54 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y623c wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y623c w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623d wa9c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">P<span class=\"_ _2\"></span>A (GI<span class=\"_ _0\"></span>) Limited (non-tra<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e56 y623d wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xdef y623d wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y623d w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623e w2b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">103<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e58 y623e wa9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Wardo<span class=\"_ _0\"></span>ur Street Ret<span class=\"_ _0\"></span>ail Investm<span class=\"_ _0\"></span>ent Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y623f wa9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Limited (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e5a y623f waa0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e59 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6240 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6240 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6241 ff2 fs6 fc3 sc0 ls17f ws1\">3 St Andrew S<span class=\"_ _0\"></span>quare Apa<span class=\"_ _0\"></span>rtme<span class=\"_ _0\"></span>nts Limited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6242 waa1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">(proper<span class=\"_ _0\"></span>ty manage<span class=\"_ _0\"></span>ment company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e5c y6242 waa2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1e5b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6242 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6242 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6243 waa3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife A<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce Comp<span class=\"_ _0\"></span>any Limited (non-tra<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5d y6243 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6243 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6243 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6244 waa4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st Se<span class=\"_ _0\"></span>curities Limite<span class=\"_ _0\"></span>d (pensio<span class=\"_ _0\"></span>n truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5d y6244 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6244 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6244 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6245 waa5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stee Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e60 y6245 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y6245 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y6245 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6246 waa6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Alba LAS Pensions Managem<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e62 y6246 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6246 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6246 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6247 waa7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Alba Life T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>no<span class=\"_ _0\"></span>n-trading c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xfb7 y6247 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e63 y6247 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y6247 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xb74 hc y6248 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Lia<span class=\"_ _0\"></span>bility </td><td></td></tr><tr><td class=\"c n x1d4 y5e18 waa8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">A<span class=\"_ _0\"></span>xial Fundame<span class=\"_ _0\"></span>ntal Strate<span class=\"_ _0\"></span>gies (US I<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) LLC (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1c3b y5e18 waa9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">W<span class=\"_ _0\"></span>ilmington</div><div class=\"t m0 x1e65 h11 y5b9e ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e66 y5ae4 waaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e67 y5ae4 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 waab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">BA (FURBS) Limited (dormant<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ompan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e68 y5ae5 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e69 y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6a y5ae5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 waac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Barnwo<span class=\"_ _0\"></span>od Proper<span class=\"_ _0\"></span>ties Limite<span class=\"_ _0\"></span>d (proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6b y5b29 waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y5b29 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y5b29 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 waae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">BL T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span>ford Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e6f y5b06 waaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e6e h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5b06 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wab0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brit<span class=\"_ _0\"></span>annic Finan<span class=\"_ _0\"></span>ce Limited (finan<span class=\"_ _0\"></span>ce and insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e70 y5b2a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e71 y5b2a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e72 y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wab1 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brit<span class=\"_ _0\"></span>annic Group S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e73 y5a16 wa87 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y5a16 w687 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wab2 h2bd\" id=\"_c3ea7992-d784-4869-b8b2-22cc7940f815\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y6249 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y6249 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y624b ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y624b ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y624b ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y624b ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y624c ff2 fs6 fc3 sc0 ls56 wsd\">Britannic Mon<span class=\"_ _0\"></span>ey In<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span>tment Ser<span class=\"_ _0\"></span>vices Limited </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y624d wab3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb\">(in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> advice co<span class=\"_ _2\"></span>mpany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e77 y624d wab4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall</div><div class=\"t m0 x1e76 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624d wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624d w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y624e wab5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ce<span class=\"_ _0\"></span>ntury T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee Se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e79 y624e wab6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll</div><div class=\"t m0 x1e78 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y624f wab7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">CGE M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Co<span class=\"_ _0\"></span>mpany Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7b y624f wab8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1e7a h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624f w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wab9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">CH M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Limited (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7d y6250 waba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Wilming<span class=\"_ _0\"></span>ton</div><div class=\"t m0 x1e7c h11 y5a78 ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6251 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6251 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wabb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">City<span class=\"_ _0\"></span>fourinc (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7f y6252 wabc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall</div><div class=\"t m0 x1e7e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e80 y6252 wabd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d with Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e81 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6253 ff2 fs6 fc3 sc0 ls1a ws13\">ERIP General P<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ner Limit<span class=\"_ _2\"></span>ed (General Pa<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>tner </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6254 wabe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">to ERI<span class=\"_ _0\"></span>P Limited Par<span class=\"_ _0\"></span>tnership)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e83 y6254 wabf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _1\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e82 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6254 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e84 y6254 wac0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">8<span class=\"_ _0\"></span>0.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6255 wac1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ERI<span class=\"_ _0\"></span>P Limited Par<span class=\"_ _0\"></span>tnersh<span class=\"_ _0\"></span>ip (Limited Par<span class=\"_ _0\"></span>tners<span class=\"_ _0\"></span>hip<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e86 y6255 wac2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e85 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6255 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6255 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6256 wac3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G As<span class=\"_ _0\"></span>surance &amp; Pen<span class=\"_ _0\"></span>sions Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (non-tra<span class=\"_ _0\"></span>ding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e88 y6256 wac4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e87 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6256 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6256 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6257 wac5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">G Financial Ser<span class=\"_ _0\"></span>vices Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8a y6257 wac6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e89 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6257 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6257 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6258 wac7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G Life H Limited (h<span class=\"_ _0\"></span>olding com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x131a y6258 wac8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1e8b h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6258 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6258 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6259 wac9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>td (trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8d y6259 waca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e8c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6259 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6259 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625a wacb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Gallions Reach Shopping Park (Nominee) Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8f y625a wacc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e8e h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625b wacd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Gres<span class=\"_ _0\"></span>ham Life Assur<span class=\"_ _0\"></span>ance S<span class=\"_ _0\"></span>ociet<span class=\"_ _0\"></span>y Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e55 y625b wa9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e54 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625c wace h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ice<span class=\"_ _0\"></span>ni Nomine<span class=\"_ _0\"></span>es (No. 2) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e91 y625c wacf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e90 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625c w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625d wad0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">IH (Jersey) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e93 y625d wad1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x1e92 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625d wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625d w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625e wad2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Impa<span class=\"_ _0\"></span>la Holding<span class=\"_ _0\"></span>s Limited (hol<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e94 y625e wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e46 y625e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y625e wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625f wad3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Impala Loan Company 1 Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x10f6 y625f wad4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1e95 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6260 wad5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Inhoco 31<span class=\"_ _0\"></span>0<span class=\"_ _2\"></span>7 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e97 y6260 wad6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e96 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6260 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6260 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6261 wad7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Laur<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ust Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e60 y6261 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y6261 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y6261 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6262 wad8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">London Lif<span class=\"_ _2\"></span>e T<span class=\"_ _2\"></span>rustees Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e98 y6262 wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6262 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6262 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6263 wada h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Namulas Pension T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (trustee company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e9c y6263 wadb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e9b h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6263 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6263 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x1e9d hc y6264 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d without </td><td></td></tr><tr><td class=\"c n x1d4 y6265 wadc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">National Provident Institution (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9e y6265 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x243 y6265 wadd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9f y6265 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6266 wade h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">National Provident L<span class=\"_ _2\"></span>ife Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea0 y6266 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea1 y6266 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea2 y6266 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6267 wae0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NM Life T<span class=\"_ _4\"></span>rustees Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xa26 y6267 wae1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1ea3 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6267 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6267 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6268 wae2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NM Pensions Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ea5 y6268 wae3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1ea4 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6268 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6268 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6269 wae4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">NP Life Ho<span class=\"_ _0\"></span>ldings Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea6 y6269 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea7 y6269 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea8 y6269 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626a wae5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NPI (Printworks) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea9 y626a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y626a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y626a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626b wae6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">NPI (<span class=\"_ _0\"></span>Westg<span class=\"_ _0\"></span>ate<span class=\"_ _2\"></span>) Limite<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eac y626b wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ead y626b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eae y626b wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y626c ff2 fs6 fc3 sc0 ls17f ws1\">Patria Private Equi<span class=\"_ _0\"></span>ty T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t plc (formerly kn<span class=\"_ _0\"></span>ow as abrdn Private </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y626d wae7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Equit<span class=\"_ _0\"></span>y Oppor<span class=\"_ _0\"></span>tunitie<span class=\"_ _0\"></span>s T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t plc) (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1eb0 y626d wae8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1eaf h11 y5b56 ff2 fs9 fc3 sc0 ls1fb ws219\">49<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y626e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y626e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626f wae9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl (Cov<span class=\"_ _2\"></span>ent Garden) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6b y626f waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y626f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y626f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623b waea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (M<span class=\"_ _0\"></span>artin<span class=\"_ _0\"></span>eau Phas<span class=\"_ _0\"></span>e 1) Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb1 y623b wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb2 y623b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb3 y623b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6270 waea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (M<span class=\"_ _0\"></span>artin<span class=\"_ _0\"></span>eau Phas<span class=\"_ _0\"></span>e 2) Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb4 y6270 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb5 y6270 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb6 y6270 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6271 waeb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl (Moor House) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb7 y6271 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb8 y6271 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb9 y6271 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb74 hc y6272 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Lia<span class=\"_ _0\"></span>bility </td><td></td></tr><tr><td class=\"c n x1d4 y6240 waed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (<span class=\"_ _0\"></span>WP) Investm<span class=\"_ _0\"></span>ents LLC (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ebb y6240 waee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Wilm<span class=\"_ _0\"></span>ington</div><div class=\"t m0 x1eba h11 y5b56 ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e66 y6240 waaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e67 y6240 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6273 waef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl AL L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebc y6273 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ebd y6273 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebe y6273 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6274 waf0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Group Hol<span class=\"_ _0\"></span>dings Limited (inve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebf y6274 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6274 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6274 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6275 waf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl Customer Care Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (financial ser<span class=\"_ _0\"></span>vices company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec0 y6275 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec1 y6275 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec2 y6275 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6276 waf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Holding<span class=\"_ _0\"></span>s (No. 1) Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ec4 y6276 waf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x1ec3 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6276 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6276 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6277 waf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Holding<span class=\"_ _0\"></span>s (No. 2) Limited (<span class=\"_ _0\"></span>holding co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec5 y6277 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec6 y6277 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec7 y6277 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6278 waf5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Secre<span class=\"_ _0\"></span>tariat Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec8 y6278 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec9 y6278 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eca y6278 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6279 waf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Life Hol<span class=\"_ _0\"></span>dings Limite<span class=\"_ _0\"></span>d (holding c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecb y6279 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xdef y6279 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y6279 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y627a waf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl MP Birmingham Limi<span class=\"_ _2\"></span>ted (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecc y627a wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ecd y627a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ece y627a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c36 waf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl RL<span class=\"_ _2\"></span>G Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecf y5c36 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed0 y5c36 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y5c36 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y627b waf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl T<span class=\"_ _4\"></span>rustee<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed2 y627b waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed3 y627b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed4 y627b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y627c ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 4<span class=\"_ _0\"></span>) L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited) (formerly kn<span class=\"_ _0\"></span>ow as Phoe<span class=\"_ _0\"></span>nix </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c3a wafa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Life<span class=\"_ _2\"></span> CA Holdings Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed5 y5c3a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed6 y5c3a wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y5c3a wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y627d ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 5<span class=\"_ _0\"></span>) Limited (formerly k<span class=\"_ _0\"></span>nown as Phoe<span class=\"_ _0\"></span>nix </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wafb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Group CA S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces Limited) (dor<span class=\"_ _0\"></span>mant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed7 y5a16 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e49 y5a16 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4a y5a16 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wafc h2be\" id=\"_2ca74120-0cb7-4aa7-b0e3-ed117b59214c\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y627e ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y627e ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y6280 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y6280 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y6280 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y6280 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y6281 wafd h267\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 6<span class=\"_ _0\"></span>) Limited (formerly k<span class=\"_ _0\"></span>nown as<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Life C<span class=\"_ _2\"></span>A Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed8 y6281 wa9d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed9 y6281 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6281 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6282 wafd h267\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 7<span class=\"_ _0\"></span>) Limited (forme<span class=\"_ _0\"></span>rly known as<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">PGH CA Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d) (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1edc y6282 wafe h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1edb h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6282 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6282 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6283 ff2 fs6 fc3 sc0 ls17f ws1\">PGH CA Lim<span class=\"_ _0\"></span>ited (f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rmerly know<span class=\"_ _0\"></span>n as Sun Life of Cana<span class=\"_ _0\"></span>da </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6284 waff h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">UK Holdings Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ede y6284 wb00 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Hampsh<span class=\"_ _0\"></span>ire</div><div class=\"t m0 x1edd h11 y5b82 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6284 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wb01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGL Pen<span class=\"_ _0\"></span>sion T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ee0 y6285 wb02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x1edf h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ee1 y6285 w532 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited by G<span class=\"_ _0\"></span>uarantee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee2 y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6286 wb03 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Glasg<span class=\"_ _0\"></span>ow<span class=\"_ _2\"></span>) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee3 y6286 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ee4 y6286 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee5 y6286 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6287 wb04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Irelan<span class=\"_ _0\"></span>d) Holding<span class=\"_ _0\"></span>s Unlimited C<span class=\"_ _0\"></span>ompany (ho<span class=\"_ _0\"></span>lding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ee7 y6287 wb05 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x1ee6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e80 y6287 wabd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d with Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e81 y6287 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wb06 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGS 2 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee8 y6288 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd67 y6288 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee9 y6288 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wb07 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix &amp; London Assurance Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eea y6250 wa83 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed9 y6250 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6289 wb08 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Bar<span class=\"_ _0\"></span>well<span class=\"_ _2\"></span> 2) Limited (dormant<span class=\"_ _2\"></span> com<span class=\"_ _0\"></span>pan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eeb y6289 waad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eec y6289 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eed y6289 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wb09 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Chiswick House) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eee y628a wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eef y628a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef0 y628a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wb0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Moor H<span class=\"_ _0\"></span>ouse 1) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef1 y628b waad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef2 y628b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1046 y628b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wb0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Moor H<span class=\"_ _0\"></span>ouse 2)<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef3 y628c wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef4 y628c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef5 y628c wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628d wb0b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Printworks) Li<span class=\"_ _2\"></span>mited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef6 y628d wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef7 y628d wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef8 y628d w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wb0c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Stockley Park) Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea9 y628e wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y628e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y628e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wb0d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Advisers Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef9 y628f wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y628f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y628f w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6290 wb0e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix AW<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e98 y6290 wad9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6290 wa84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6290 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 waa6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Custo<span class=\"_ _0\"></span>mer Care Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ancial se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed5 y6291 wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed6 y6291 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efc y6291 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wb0f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix ER1 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efd y6292 wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efe y6292 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eff y6292 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wb10 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER2 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fina<span class=\"_ _0\"></span>nce comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f00 y6293 wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f01 y6293 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f02 y6293 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6294 wb0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix ER3 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f03 y6294 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f04 y6294 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f05 y6294 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wb11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER4 Limited (financ<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e79 y6295 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f06 y6295 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f07 y6295 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6296 wb10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER5 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f00 y6296 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f01 y6296 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f02 y6296 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6297 wb12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER6 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f08 y6297 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f09 y6297 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f0a y6297 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6298 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group CA S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (formerl<span class=\"_ _0\"></span>y known </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6299 wb13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as S<span class=\"_ _0\"></span>LFC<span class=\"_ gs47\"> </span>Ser<span class=\"_ _0\"></span>vices<span class=\"_ gs47\"> </span>C<span class=\"_ _0\"></span>ompany<span class=\"_ gs47\"> </span>(UK<span class=\"_ _0\"></span>)<span class=\"_ gs47\"> </span>Limited)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f0c y6299 wb14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ham<span class=\"_ _0\"></span>pshire</div><div class=\"t m0 x1f0b h11 y5b56 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6299 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6299 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y629a wb15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group Empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Benefit T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f0e y629a wb16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x1f0d h11 y5b9e ff2 fs9 fc3 sc0 ls1fc ws21a\">51<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f0f y629a wb17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Tr<span class=\"_ _0\"></span>u<span class=\"_ _1\"></span>s<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f10 y629a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y629b ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group H<span class=\"_ _0\"></span>oldings (B<span class=\"_ _0\"></span>ermuda) Limite<span class=\"_ _0\"></span>d (holding </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y629c wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">comp<span class=\"_ _0\"></span>any \u2013 directly ow<span class=\"_ _0\"></span>ned by the C<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f12 y629c wb18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f11 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6265 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6265 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x555 hc y629d ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y629e ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group H<span class=\"_ _0\"></span>oldings (non-tr<span class=\"_ _0\"></span>ading comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"c x1f14 y629f wb19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x1f13 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f15 y629f wb1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f16 y629f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a0 wb1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group M<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent Ltd (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef9 y62a0 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y62a0 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y62a0 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a1 wb1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Holdin<span class=\"_ _0\"></span>gs (Berm<span class=\"_ _0\"></span>uda) Limited (h<span class=\"_ _0\"></span>olding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f18 y62a1 wb1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f17 h11 y5b9e ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62a1 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62a1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a2 wb1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Assur<span class=\"_ _0\"></span>ance Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f19 y62a2 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1a y62a2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1b y62a2 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62a3 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life CA Holding<span class=\"_ _0\"></span>s Limited (formerly k<span class=\"_ _0\"></span>nown as SLF of C<span class=\"_ _0\"></span>anada </td><td></td><td></td><td></td><td class=\"t m0 xb60 hc y62a4 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62a5 wb1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">UK Limite<span class=\"_ _0\"></span>d) (holdin<span class=\"_ _0\"></span>g company \u2013 dire<span class=\"_ _0\"></span>ctly owne<span class=\"_ _0\"></span>d by the Comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f1d y62a5 wb20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">H<span class=\"_ _0\"></span>ampshire</div><div class=\"t m0 x1f1c h11 y5b56 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"t m0 x679 hc y62a6 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y62a7 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Holding<span class=\"_ _0\"></span>s Limited (ho<span class=\"_ _0\"></span>lding comp<span class=\"_ _0\"></span>any </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62a8 wb21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">\u2013 direc<span class=\"_ _0\"></span>tly owned by th<span class=\"_ _0\"></span>e Company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1e y62a8 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1f y62a8 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f20 y62a8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62a9 ff2 fs6 fc3 sc0 ls13 ws11\">Phoenix<span class=\"_ _2\"></span> Management Services Holdi<span class=\"_ _2\"></span>ngs </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ada wb22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">(Be<span class=\"_ _0\"></span>rmuda) Limited (h<span class=\"_ _0\"></span>olding com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f22 y5ada wb23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f21 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62aa wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62aa w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adb wb24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Pension Scheme (<span class=\"_ _0\"></span>T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>) Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f23 y5adb wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f24 y5adb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f25 y5adb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wb25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Pensions T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Services Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f26 y62ab wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f27 y62ab wb26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f28 y62ab w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ac wb27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix SCP Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f29 y62ac waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y62ac wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y62ac w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ad wb28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SCP Pen<span class=\"_ _0\"></span>sions T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s Limited (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e36 y62ad wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y62ad wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y62ad w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ade wb29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SCP T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stees Limi<span class=\"_ _0\"></span>ted (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2a y5ade wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y5ade wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y5ade w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wb2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SL Dire<span class=\"_ _0\"></span>ct Limited (do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e70 y62ae wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e71 y62ae wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2b y62ae w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wb2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV1 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2c y62af wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f2d y62af wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2e y62af w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b0 wb2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV2 Limite<span class=\"_ _0\"></span>d (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2f y62b0 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f04 y62b0 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f05 y62b0 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae1 wb2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV3 Limite<span class=\"_ _0\"></span>d (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f30 y5ae1 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f31 y5ae1 wb26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f32 y5ae1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e14 wb2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV<span class=\"_ _2\"></span>4 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f33 y5e14 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f34 y5e14 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f35 y5e14 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e15 wb2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix UL<span class=\"_ _0\"></span>A L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f36 y5e15 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea7 y5e15 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea8 y5e15 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e18 wb2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Manag<span class=\"_ _0\"></span>ers Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>unit t<span class=\"_ _0\"></span>rust man<span class=\"_ _0\"></span>ager)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e73 y5e18 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y5e18 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y5e18 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wb30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth Hol<span class=\"_ _0\"></span>dings Limited (<span class=\"_ _0\"></span>holding co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f37 y5ae5 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f38 y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f39 y5ae5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 wb31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (financ<span class=\"_ _0\"></span>ial ser<span class=\"_ _0\"></span>vices c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3a y5b29 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f3b y5b29 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3c y5b29 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 wb32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee Ser<span class=\"_ _0\"></span>vices Lim<span class=\"_ _0\"></span>ited (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed2 y5b06 waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed3 y5b06 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed4 y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wb33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pilang<span class=\"_ _0\"></span>en Logis<span class=\"_ _0\"></span>tik AB (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3d y5b2a wb34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">S<span class=\"_ _0\"></span>to<span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>k<span class=\"_ _0\"></span>ho<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>m\u00b9\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1694 y5b2a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3e y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wb35 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pilang<span class=\"_ _0\"></span>en Logis<span class=\"_ _0\"></span>tik I AB (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3f y5a16 wb36 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">S<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>oc<span class=\"_ _0\"></span>k<span class=\"_ _0\"></span>h<span class=\"_ _0\"></span>ol<span class=\"_ _0\"></span>m\u00b9\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e63 y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y5a16 wa89 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wb37 h2bf\" id=\"_99a8917b-b7ce-431a-9bd9-16127a98d566\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y62b3 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y62b3 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62b4 wb38 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Comp<span class=\"_ _0\"></span>anies Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f41 y62b4 wb39 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f40 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b4 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b4 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b5 wb3a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure FS Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f43 y62b5 wb3b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f42 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b5 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b5 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b6 wb3c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure FSH U<span class=\"_ _0\"></span>K Limited (hol<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f45 y62b6 wb3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f44 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b6 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b6 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6284 wb3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws144\">ReAs<span class=\"_ _0\"></span>sure Group pl<span class=\"_ _0\"></span>c (holding co<span class=\"_ _0\"></span>mpany \u2013 direc<span class=\"_ _0\"></span>tly owned by th<span class=\"_ _0\"></span>e Company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e6f y6284 waaf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e6e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6284 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wb3f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Life Pension T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xd2d y6285 wb40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f46 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6285 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b7 wb41 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure LL Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xd2d y62b7 wb40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f46 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b7 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b7 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6287 wb42 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Midc<span class=\"_ _0\"></span>o Li<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ited (holdin<span class=\"_ _0\"></span>g company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x11f5 y6287 wb43 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f47 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6287 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6287 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wb44 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Nomin<span class=\"_ _0\"></span>ees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>dor<span class=\"_ _0\"></span>mant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f49 y6288 wb45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f48 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6288 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6288 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wb46 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">ReAssure Pension T<span class=\"_ _4\"></span>ruste<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4b y6250 wb47 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4a h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6250 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wb48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure PM Limited (dorm<span class=\"_ _0\"></span>ant compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4d y6252 wb49 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6252 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wb4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustees Lim<span class=\"_ _0\"></span>ited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4f y628a wb4b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wb4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure T<span class=\"_ _4\"></span>wo Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f41 y628b wb39 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f40 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wb4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure UK Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Company Limite<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1515 y628c wb4e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f50 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628c w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b8 wb4f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Scot<span class=\"_ _0\"></span>tish Mutual Assurance Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f51 y62b8 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f52 y62b8 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4f y62b8 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wb50 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Scot<span class=\"_ _0\"></span>tish Mutual Nominees Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f53 y628e wb51 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f54 y628e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f55 y628e wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wb52 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>ottish M<span class=\"_ _0\"></span>utual Pensi<span class=\"_ _0\"></span>on F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds Investm<span class=\"_ _0\"></span>ent Limited (trus<span class=\"_ _0\"></span>tee compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f56 y628f wb51 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f57 y628f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f58 y628f wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b9 wb53 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL (<span class=\"_ _0\"></span>NEWCO) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e62 y62b9 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y62b9 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y62b9 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 wb54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">SL Liverpool Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f59 y6291 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f5a y6291 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f5b y6291 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wb55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Belg<span class=\"_ _0\"></span>ium No.1 SA (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f5d y6292 wb56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Brus<span class=\"_ _0\"></span>sels</div><div class=\"t m0 x1f5c h11 y5a78 ff2 fs9 fc3 sc0 ls1fd ws21b\">10<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f5e y6292 wb57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Soci\u00e9t\u00e9 Anonyme<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea2 y6292 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wb58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Denm<span class=\"_ _0\"></span>ark No.1 ApS (inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f5f y6293 wb59 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Copenh<span class=\"_ _0\"></span>agen<span class=\"_ _2\"></span>\u00b9\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f60 y6293 wa84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f61 y6293 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ba wb5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Denm<span class=\"_ _0\"></span>ark No.<span class=\"_ _0\"></span>2 ApS (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f62 y62ba wb5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">C<span class=\"_ _0\"></span>openhagen\u00b9<span class=\"_ _2\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f63 y62ba wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f64 y62ba w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wb5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A France S<span class=\"_ _0\"></span>CI (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f66 y6295 wb5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f65 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6295 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6295 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6296 wb5e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.1 S.\u00e0<span class=\"_ _0\"></span>.r<span class=\"_ _2\"></span>.l. (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xde6 y6296 wb5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x1f67 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6296 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6296 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6297 wb60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.2 S<span class=\"_ _0\"></span>.\u00e0.<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>l. (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f69 y6297 wb61 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f68 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6297 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6297 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bb wb60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.3 S<span class=\"_ _0\"></span>.\u00e0.<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>l. (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f69 y62bb wb61 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f68 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62bb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62bb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bc wb62 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Nethe<span class=\"_ _0\"></span>rlands No<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 B<span class=\"_ _0\"></span>.<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>. (investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6a y62bc wb63 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Amster<span class=\"_ _2\"></span>dam<span class=\"_ _2\"></span>\u00b9\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f6b y62bc wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6c y62bc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bd wb64 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>OM (No. 8<span class=\"_ _0\"></span>) L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited (dormant co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6d y62bd wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f6e y62bd wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6f y62bd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62be wb65 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>OM (No. 9<span class=\"_ _0\"></span>) Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f70 y62be wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f71 y62be wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f72 y62be w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bf w967 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>COM (No. 1<span class=\"_ _0\"></span>0)<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f73 y62bf wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f74 y62bf wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f75 y62bf w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c0 ff2 fs6 fc3 sc0 ls17f ws1\">SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment G<span class=\"_ _0\"></span>P Limited (Gen<span class=\"_ _0\"></span>eral </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c1 wb66 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Par<span class=\"_ _0\"></span>tner to SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f51 y62c1 wb67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1f76 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62c1 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62c1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c2 wb68 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Agency Ser<span class=\"_ _0\"></span>vices Limi<span class=\"_ _2\"></span>ted (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f77 y62c2 wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ecd y62c2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ece y62c2 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c3 wb69 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>ets and Emp<span class=\"_ _0\"></span>loyee Ser<span class=\"_ _0\"></span>vices Lim<span class=\"_ _0\"></span>ited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f78 y62c3 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3c y62c3 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3d y62c3 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c4 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>urance (H<span class=\"_ _0\"></span>WPF) Luxe<span class=\"_ _0\"></span>mbourg </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c5 wb6a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">S<span class=\"_ _0\"></span>.\u00e0.r.l. (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f7a y62c5 wb6b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x1f79 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62c5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62c5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c6 wb6c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Finan<span class=\"_ _0\"></span>cial Advice S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x384 y62c6 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7b y62c6 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y62c6 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c7 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Group Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>form<span class=\"_ _0\"></span>erly known </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c8 wb6d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as Pho<span class=\"_ _0\"></span>enix Group C<span class=\"_ _0\"></span>apital Limite<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7d y62c8 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7e y62c8 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7f y62c8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623a wb6e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life In<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f80 y623a wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f81 y623a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f82 y623a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623c wb6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Lifetime Mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es Limited (mor<span class=\"_ _0\"></span>tga<span class=\"_ _0\"></span>ge provider c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f83 y623c wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y623c wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y623c w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c9 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life L<span class=\"_ _2\"></span>imited (formerly known as L<span class=\"_ _2\"></span>ondon </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62ca wb70 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Life<span class=\"_ _2\"></span> Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f84 y62ca wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f85 y62ca wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f86 y62ca wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623f wb71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Master T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span> C<span class=\"_ _0\"></span>o.<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6b y623f waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y623f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y623f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cb wb72 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Mortgag<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f87 y62cb waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y62cb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y62cb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6274 wb73 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Pension Funds Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f88 y6274 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f89 y6274 wb74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lim<span class=\"_ _0\"></span>ited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8a y6274 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cc wb75 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life P<span class=\"_ _2\"></span>rope<span class=\"_ _0\"></span>rty C<span class=\"_ _0\"></span>ompany<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8b y62cc wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y62cc wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y62cc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cd wb71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life T<span class=\"_ _4\"></span>rustee Comp<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span>y Limited (t<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ustee company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8c y62cd wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f8d y62cd wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8e y62cd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ce wb76 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sun<span class=\"_ _0\"></span>Life L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited (financia<span class=\"_ _0\"></span>l serv<span class=\"_ _0\"></span>ices dist<span class=\"_ _0\"></span>ribution com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8f y62ce wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7b y62ce wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y62ce wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62cf ff2 fs6 fc3 sc0 ls17f ws1\">The H<span class=\"_ _0\"></span>eritable S<span class=\"_ _0\"></span>ecuri<span class=\"_ _0\"></span>ties and Mo<span class=\"_ _0\"></span>rtga<span class=\"_ _0\"></span>ge Investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62d0 wb77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Asso<span class=\"_ _0\"></span>ciation<span class=\"_ _2\"></span> Ltd (<span class=\"_ _2\"></span>dorm<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span>t company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f90 y62d0 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1a y62d0 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1b y62d0 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d1 wb78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">The London Lif<span class=\"_ _2\"></span>e As<span class=\"_ _0\"></span>sociation Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f91 y62d1 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f92 y62d1 wb79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limite<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y G<span class=\"_ _0\"></span>uarantee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f93 y62d1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d2 wb7a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The Path<span class=\"_ _0\"></span>e Building Ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>any Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f95 y62d2 wb7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f94 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62d2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62d2 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d3 wb7c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The Ph<span class=\"_ _0\"></span>oenix Life SC<span class=\"_ _0\"></span>P Instit<span class=\"_ _0\"></span>ution (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f96 y62d3 wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f97 y62d3 wb74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lim<span class=\"_ _0\"></span>ited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y62d3 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c39 wb7d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The S<span class=\"_ _0\"></span>cott<span class=\"_ _0\"></span>ish Mutua<span class=\"_ _0\"></span>l Assura<span class=\"_ _0\"></span>nce So<span class=\"_ _0\"></span>ciety (dor<span class=\"_ _0\"></span>mant compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f98 y5c39 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f99 y5c39 wb7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y5c39 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62d4 ff2 fs6 fc3 sc0 ls17f ws1\">The St<span class=\"_ _0\"></span>andard Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Company of Europ<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a15 wb7f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">B.<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>. (<span class=\"_ _2\"></span>finan<span class=\"_ _0\"></span>cial<span class=\"_ _2\"></span> hol<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span>ing company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f9a y5a15 wb80 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Amsterdam<span class=\"_ _2\"></span>\u00b9\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed0 y5a15 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y5a15 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wb81 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ebn<span class=\"_ _0\"></span>et (Holdin<span class=\"_ _0\"></span>gs) Limited (ho<span class=\"_ _0\"></span>lding compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7d y5a16 wa83 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7e y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7f y5a16 w687 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wb82 h2c0\" id=\"_2a0eba0c-6fe1-4d68-94cd-32f6d037fa95\"><tr><td></td><td></td><td class=\"t m0 x1f9b h29 y62d5 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 xd04 h29 y62d5 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1251 h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x1f9c h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x1f9d h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x941 h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x6bc h29 y62d7 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1f9e h29 y62d7 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3be h29 y62d7 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 h29 y62d7 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y62d8 wb83 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ebn<span class=\"_ _0\"></span>et Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f9f y62d8 wb84 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fa0 y62d8 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa1 y62d8 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62d9 wb85 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Welbrent Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Investm<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>any Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1fa3 y62d9 wb86 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fa2 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fa4 y62d9 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa5 y62d9 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62da wb87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws13\">ESP General P<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>tner<span class=\"_ _2\"></span> Limit<span class=\"_ _2\"></span>ed Partnership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fa7 y62da wb88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fa6 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62da wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62da w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62db wb8a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ESP I<span class=\"_ _0\"></span>I Gene<span class=\"_ _0\"></span>ral Partn<span class=\"_ _0\"></span>er Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1faa y62db wb8b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x1fa9 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62db wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62db w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62dc wb8c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Europe<span class=\"_ _0\"></span>an Strategi<span class=\"_ _0\"></span>c P<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>rtne<span class=\"_ _0\"></span>rs LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fac y62dc wb8d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fab h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62dc wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fad y62dc wb8e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">72.70<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62dd wb8f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Patria Pho<span class=\"_ _0\"></span>enix Glob<span class=\"_ _0\"></span>al Private Equit<span class=\"_ _0\"></span>y III LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1faf y62dd wb90 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fae h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62dd wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62dd w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62de wb91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Highvis<span class=\"_ _0\"></span>ta V<span class=\"_ _2\"></span>enture C<span class=\"_ _0\"></span>apital Par<span class=\"_ _0\"></span>tners LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb1 y62de wb92 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">Bos<span class=\"_ _0\"></span>ton</div><div class=\"t m0 x1fb0 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62de wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62de w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62df wb93 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 wsd\">Pearl Private E<span class=\"_ _2\"></span>quit<span class=\"_ _0\"></span>y LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb3 y62df wb94 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1fb2 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62df wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62df w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e0 wb95 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Str<span class=\"_ _0\"></span>ategic Cred<span class=\"_ _0\"></span>it LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb5 y62e0 wb96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x1fb4 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62e0 wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62e0 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e1 wb97 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb7 y62e1 wb98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1fb6 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62e1 wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62e1 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62e2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Global F<span class=\"_ _2\"></span>unds \u2013 Janus Hen<span class=\"_ _0\"></span>derson </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62e3 wb99 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ins<span class=\"_ _0\"></span>titutiona<span class=\"_ _0\"></span>l Overs<span class=\"_ _0\"></span>eas Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb9 y62e3 wb9a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fb8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62e4 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y62e4 wb9c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls14 ws1e\">99.<span class=\"_ _0\"></span>28%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e5 wb9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Ins<span class=\"_ _0\"></span>titution<span class=\"_ _0\"></span>al High Alph<span class=\"_ _0\"></span>a UK Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb9 y62e5 wb9a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fb8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e5 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbd y62e5 wb9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">92.<span class=\"_ _0\"></span>50%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e6 wba0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Mainstream UK Equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fbf y62e6 wba1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fbe h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e6 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e6 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e7 wba2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Shor<span class=\"_ _0\"></span>t Duration Bond F<span class=\"_ _2\"></span>und<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc2 y62e7 wba3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc1 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e7 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e7 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e8 wba4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional UK Equity T<span class=\"_ _2\"></span>racker T<span class=\"_ _4\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc4 y62e8 wba5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc3 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e8 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e8 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62e9 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus Hender<span class=\"_ _0\"></span>son </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ea wba6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ins<span class=\"_ _0\"></span>titutiona<span class=\"_ _0\"></span>l Asia Pacific ex J<span class=\"_ _0\"></span>apan Index O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc6 y62ea wba7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc5 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ea wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y62ea wba8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">9<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>.04%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62eb ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ec wba9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Hender<span class=\"_ _0\"></span>son Institutional Japan Index Oppor<span class=\"_ _0\"></span>tuniti<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc9 y62ec wbaa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ec wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fca y62ec wbab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">86.39%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62ed ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus Hender<span class=\"_ _0\"></span>son </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ee wbac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 wsd\">Instit<span class=\"_ _0\"></span>utional North Am<span class=\"_ _0\"></span>erican Index Oppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fcc y62ee wbad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fcb h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ef wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y62ef wbae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">80.6<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f0 wbaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS A<span class=\"_ _0\"></span>sia Pacific ex Jap<span class=\"_ _0\"></span>an Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fcd y62f0 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fce y62f0 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cb y62f0 wbb1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f1 wbb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Em<span class=\"_ _0\"></span>erging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fcf y62f1 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd0 y62f1 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd1 y62f1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f2 wbb4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Europ<span class=\"_ _0\"></span>ean ex UK Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd2 y62f2 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5 y62f2 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd3 y62f2 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f3 wbb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd4 y62f3 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd5 y62f3 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd6 y62f3 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f4 wbb6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n European E<span class=\"_ _0\"></span>x UK Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd7 y62f4 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd8 y62f4 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd9 y62f4 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f5 wbb8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n Nort<span class=\"_ _0\"></span>h America<span class=\"_ _0\"></span>n Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd2 y62f5 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5 y62f5 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd3 y62f5 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f6 wbb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n UK Gilt Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fda y62f6 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdb y62f6 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdc y62f6 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f7 wbbb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n UK Listed S<span class=\"_ _0\"></span>maller C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fdd y62f7 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fde y62f7 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdf y62f7 wbbc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ff ws21d\">99.99%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f8 wbbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe0 y62f8 wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe1 y62f8 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y62f8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f9 wbbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican 2 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe2 y62f9 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe3 y62f9 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec7 y62f9 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fa wbbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican 3 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe2 y62fa wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe3 y62fa wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe4 y62fa w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fb wbc0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Ste<span class=\"_ _0\"></span>rling Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe5 y62fb wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe6 y62fb wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62fb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fc wbc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index A<span class=\"_ _0\"></span>sia Pacific ex Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe8 y62fc wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe9 y62fc wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fea y62fc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fd wbc2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index Em<span class=\"_ _0\"></span>erging M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1feb y62fd wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fec y62fd wbc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y62fd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fe wbc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index Euro<span class=\"_ _0\"></span>pean Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fee y62fe wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fef y62fe wbc5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62fe w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ff wbc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index J<span class=\"_ _0\"></span>apan Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff1 y62ff wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y62ff wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y62ff w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6300 wbc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index U<span class=\"_ _0\"></span>K Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff1 y6300 wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y6300 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y6300 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6301 wbc8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index U<span class=\"_ _0\"></span>S Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff3 y6301 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y6301 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y6301 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62aa wbc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS U<span class=\"_ _0\"></span>K All Share Lis<span class=\"_ _0\"></span>ted Equit<span class=\"_ _0\"></span>y Multi Ma<span class=\"_ _0\"></span>nager Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff4 y62aa wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff5 y62aa wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff6 y62aa wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6302 wbca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS US D<span class=\"_ _0\"></span>ollar Credi<span class=\"_ _0\"></span>t F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff7 y6302 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff8 y6302 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y6302 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wbcb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Asia Pac<span class=\"_ _0\"></span>ific (Excl<span class=\"_ _0\"></span>uding Japan) Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff9 y62ab wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffa y62ab wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffb y62ab w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ac wbcc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Emergin<span class=\"_ _0\"></span>g Market Debt Un<span class=\"_ _0\"></span>constr<span class=\"_ _0\"></span>ained Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffc y62ac wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffd y62ac wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62ac w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ad wbcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Emergin<span class=\"_ _0\"></span>g Markets Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffe y62ad wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fff y62ad wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62ad w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6303 wbce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Euro Sovereig<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2000 y6303 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2001 y6303 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6303 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wbcf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Europea<span class=\"_ _0\"></span>n Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2002 y62ae wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2003 y62ae wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2004 y62ae w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wbd0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Floating R<span class=\"_ _0\"></span>ate ABS Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffc y62af wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffd y62af wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62af w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b0 wbd1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Globa<span class=\"_ _0\"></span>l Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffe y62b0 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fff y62b0 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62b0 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6304 wbd2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Globa<span class=\"_ _0\"></span>l Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2005 y6304 wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2006 y6304 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6304 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e14 wbd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Index-<span class=\"_ _0\"></span>Link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Sterling He<span class=\"_ _0\"></span>dged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2007 y5e14 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2008 y5e14 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y5e14 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e15 wb0b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Long Gilt Ste<span class=\"_ _0\"></span>rling Hed<span class=\"_ _0\"></span>ged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2009 y5e15 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200a y5e15 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff6 y5e15 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e18 wbd4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Shor<span class=\"_ _0\"></span>t Dur<span class=\"_ _0\"></span>ation Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200b y5e18 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200c y5e18 wbd5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200d y5e18 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e1a wbd6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sterling Cre<span class=\"_ _0\"></span>dit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200e y5e1a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200f y5e1a wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y5e1a wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 wbd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sterling G<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnment Bon<span class=\"_ _0\"></span>d Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2010 y5b29 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200f y5b29 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y5b29 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 w9c9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sub-S<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>reign A Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2000 y5b06 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2001 y5b06 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wbd8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell T<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>ctical A<span class=\"_ _0\"></span>sset Allo<span class=\"_ _0\"></span>cation Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2011 y5b2a wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2006 y5b2a wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wbd9 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Uk Equit<span class=\"_ _0\"></span>y Incom<span class=\"_ _0\"></span>e Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2012 y5a16 wadf h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2013 y5a16 wbba h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2014 y5a16 wa89 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wbda h2bf\" id=\"_66174a3b-54c2-41ab-bc6c-f4f3a7d78229\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y62b3 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y62b3 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62b4 wbdb h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Ultra S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>uration Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x34d y62b4 wad9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2015 y62b4 wbba h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y62b4 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b5 wbdc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM Far E<span class=\"_ _0\"></span>astern U<span class=\"_ _0\"></span>nit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200b y62b5 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2016 y62b5 wbc5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2017 y62b5 wbdd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>70%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b6 wbde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K All-Share In<span class=\"_ _0\"></span>dex Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2018 y62b6 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2015 y62b6 wbba h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y62b6 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6284 wbdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K Stock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x3db y6284 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2019 y6284 wbb7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wbe0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K Stock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Fund (S<span class=\"_ _0\"></span>eries 3)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x201a y6285 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201b y6285 wbc5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201c y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b7 wbe1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di MSCI Ch<span class=\"_ _0\"></span>ina ESG Lead<span class=\"_ _0\"></span>ers Se<span class=\"_ _0\"></span>lect<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x201d y62b7 wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3c y62b7 wbe3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201e y62b7 wbe4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5f ws122\">63.46<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6305 wbe5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">iSha<span class=\"_ _0\"></span>res 350 U<span class=\"_ _0\"></span>K Equit<span class=\"_ _0\"></span>y Index Fund UK<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2020 y6305 wbe6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x201f h11 y5b82 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6287 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6287 wbe7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wbe8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">iSha<span class=\"_ _0\"></span>res Bloom<span class=\"_ _0\"></span>berg Roll Se<span class=\"_ _0\"></span>lect C<span class=\"_ _0\"></span>ommodit<span class=\"_ _0\"></span>y Strate<span class=\"_ _0\"></span>gy ET<span class=\"_ _0\"></span>F<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2024 y6288 wbe9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Wilmingto<span class=\"_ _0\"></span>n</div><div class=\"t m0 x2023 h11 y5a78 ff2 fs9 fc3 sc0 ls202 ws220\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6288 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6288 wbea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15a ws163\">5<span class=\"_ _2\"></span>1.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wbeb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroders (<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure Growth C<span class=\"_ _0\"></span>apital) U<span class=\"_ _0\"></span>K Private Ass<span class=\"_ _0\"></span>ets L<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>AF<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2026 y6250 wbec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2025 h11 y5b82 ff2 fs9 fc3 sc0 ls203 ws221\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6250 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wbed h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroders (<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure Growth C<span class=\"_ _0\"></span>apital) Gl<span class=\"_ _0\"></span>obal Private As<span class=\"_ _0\"></span>sets L<span class=\"_ _2\"></span>T<span class=\"_ _4\"></span>AF<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2029 y6252 wbee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2028 h11 y5b82 ff2 fs9 fc3 sc0 ls203 ws221\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6252 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wbef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">abrdn (Lo<span class=\"_ _2\"></span>thian) International T<span class=\"_ _4\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y628a wbf0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628a wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y628a wbf1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ff ws21d\">99.99<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wbf2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">abrdn (Lo<span class=\"_ _2\"></span>thian) Japan T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202e y628b wbf3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202d h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628b wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y628b wbf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wbf5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) North A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2031 y628c wbf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2030 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628c wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628c wbf7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">98.33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b8 wbf8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) P<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>cific Basin T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2034 y62b8 wbf9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2033 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628d wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628d wbfa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls14 ws1e\">98<span class=\"_ _0\"></span>.28%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wbfb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) UK Equit<span class=\"_ _0\"></span>y Gener<span class=\"_ _0\"></span>al T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2036 y628e wbfc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2035 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628e wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628e wbdd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>70%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wbfd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets I<span class=\"_ _0\"></span>ncome Equi<span class=\"_ _0\"></span>ty Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2038 y628f wbfe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x2037 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y628f wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y628f wbff h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">75.<span class=\"_ _0\"></span>56%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b9 wc00 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e Ex UK Eth<span class=\"_ _0\"></span>ical Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203b y62b9 wc01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203a h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62b9 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62b9 wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">8<span class=\"_ _0\"></span>0.3<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 wc03 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn MT A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Un<span class=\"_ _0\"></span>constr<span class=\"_ _0\"></span>ained Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y6291 wc04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6291 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x203e y6291 wc05 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">72.7<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wc06 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed I Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2040 y6292 wc07 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203f h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6292 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6292 wc08 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">78<span class=\"_ _0\"></span>.33<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wc09 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2042 y6293 wc0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2041 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6293 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6293 wc0b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">79.02%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ba wc0c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed II<span class=\"_ _0\"></span>I F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2045 y62ba wc0d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2044 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62ba wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62ba wc0e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls10 ws10\">8<span class=\"_ _0\"></span>6.29%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wc0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed V Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2047 y6295 wc10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x2046 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6295 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2048 y6295 wc11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">79.31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x246 hc y6306 ff2 fs6 fc3 sc0 ls1 ws1\">Sp<span class=\"_ _0\"></span>ecial Limite<span class=\"_ _0\"></span>d </td><td></td></tr><tr><td class=\"c n x1d4 y6307 wc12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ph<span class=\"_ _0\"></span>oenix Fund Fin<span class=\"_ _0\"></span>ancing S<span class=\"_ _0\"></span>CSP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x204a y6307 wc13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2049 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204b y6307 wc14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Partn<span class=\"_ _0\"></span>ership<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204c y6307 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6308 wc15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Glob<span class=\"_ _0\"></span>al Corpo<span class=\"_ _0\"></span>rate Bond T<span class=\"_ _2\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x204e y6308 wc16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x204d h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6261 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204f y6261 wc17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">9<span class=\"_ _0\"></span>5.61%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6299 waf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Sterling C<span class=\"_ _0\"></span>orpor<span class=\"_ _0\"></span>ate Bond T<span class=\"_ _2\"></span>racker Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2051 y6299 wc18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2050 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6299 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2052 y6299 wc19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls130 ws135\">84.86%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y629a wc1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Euro Liqui<span class=\"_ _0\"></span>dity 1 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2054 y629a wc1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2053 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y629a wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2055 y629a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6309 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Ster<span class=\"_ _0\"></span>ling Liquidit<span class=\"_ _0\"></span>y <span class=\"ls1\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6265 wc1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">2 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1145 y6265 wc1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2056 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6265 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2055 y6265 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y630a ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Ster<span class=\"_ _0\"></span>ling Liquidit<span class=\"_ _0\"></span>y <span class=\"ls1\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y629f wc1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">3 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1145 y629f wc1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2056 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y630b wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2057 y630b w449 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls170 ws142\">86.85%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a0 wc1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2059 y62a0 wc20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2058 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62a0 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62a0 wc02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">5<span class=\"_ _0\"></span>9.0<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a1 wc21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index World Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x205b y62a1 wc22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x205a h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y62a1 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205c y62a1 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">72.<span class=\"_ _0\"></span>57%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630c wc23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Real Es<span class=\"_ _0\"></span>tate Feed<span class=\"_ _0\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2034 y630c wbf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2033 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y630c wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205d y630c wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">7<span class=\"_ _0\"></span>2.12<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630d wc25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Real Es<span class=\"_ _0\"></span>tate Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x205f y630d wc26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x205e h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y630d wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205c y630d w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">8<span class=\"_ _0\"></span>9.91%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630e wc27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">HS<span class=\"_ _0\"></span>BC Investm<span class=\"_ _0\"></span>ent Funds \u2013 Balan<span class=\"_ _0\"></span>ced Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2061 y630e wc28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2060 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y630e wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2048 y630e wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">78.<span class=\"_ _0\"></span>31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x59b hc y630f ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y6310 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Private Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d LP<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x2063 y6311 wc2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x2062 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6311 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6311 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x59b hc y6312 ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y6313 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic C<span class=\"_ _0\"></span>redit Fund LP<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x2063 y6314 wc2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x2062 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6315 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6315 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6316 wc2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds plc \u2013 Fundame<span class=\"_ _0\"></span>ntal Strate<span class=\"_ _0\"></span>gies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2066 y6316 wc2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2065 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6316 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6316 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6317 wc2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds plc \u2013 System<span class=\"_ _0\"></span>atic Strateg<span class=\"_ _0\"></span>ies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2068 y6317 wc2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2067 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6317 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6317 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6318 wc2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Nor<span class=\"_ _0\"></span>th Amer<span class=\"_ _0\"></span>ican Strate<span class=\"_ _0\"></span>gic Par<span class=\"_ _0\"></span>tners (Fe<span class=\"_ _0\"></span>eder) 20<span class=\"_ _0\"></span>08 Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x206a y6318 wc30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x2069 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6318 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6318 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6319 wc31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al European Equit<span class=\"_ _0\"></span>y Inc<span class=\"_ _0\"></span>ome Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x206b y6319 wc32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x206c y6319 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x206d y6319 wbe7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6242 wc33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Nor<span class=\"_ _0\"></span>th Amer<span class=\"_ _0\"></span>ican Strate<span class=\"_ _0\"></span>gic Par<span class=\"_ _0\"></span>tners 20<span class=\"_ _0\"></span>08 L.<span class=\"_ _0\"></span>P<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x206f y6242 wc34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Delaware</div><div class=\"t m0 x206e h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6242 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6242 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6243 wc35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Par<span class=\"_ _0\"></span>tners Gro<span class=\"_ _0\"></span>up Phoeni<span class=\"_ _0\"></span>x, L.<span class=\"_ _0\"></span>P<span class=\"_ _4\"></span>. Inc<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2071 y6243 wc36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Guernsey</div><div class=\"t m0 x2070 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6243 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6243 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6244 wc37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors G<span class=\"_ _0\"></span>lobal Dy<span class=\"_ _0\"></span>namic Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2072 y6244 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2073 y6244 wc39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2074 y6244 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">8<span class=\"_ _0\"></span>3.31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x246 hc y631a ff2 fs6 fc3 sc0 ls1 ws1\">Sp<span class=\"_ _0\"></span>ecial Limite<span class=\"_ _0\"></span>d </td><td></td></tr><tr><td class=\"c n x1d4 y5ae1 wc3a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stone<span class=\"_ _0\"></span>peak Co<span class=\"_ _0\"></span>re F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d (Lux) SC<span class=\"_ _0\"></span>Sp<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2076 y5ae1 wc3b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2075 h11 y5b56 ff2 fs9 fc3 sc0 ls205 ws223\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204b y5ae1 wc14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Partn<span class=\"_ _0\"></span>ership<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2077 y5ae1 wc3c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">8<span class=\"_ _0\"></span>3.30%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y631b ff3 fs6 fc3 sc0 ls77 ws34\">Asso<span class=\"_ _0\"></span>ciates:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae4 wc3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Future Grow<span class=\"_ _0\"></span>th Capit<span class=\"_ _0\"></span>al (Holdin<span class=\"_ _0\"></span>gs) Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x2079 y5ae4 wc3e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2078 h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5e18 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207a y5e18 wc3f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">49.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wc40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Future Grow<span class=\"_ _0\"></span>th Capit<span class=\"_ _0\"></span>al Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x207c y5ae5 wc41 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x207b h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207a y5ae5 wc3f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">49.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y631c ff3 fs6 fc3 sc0 lsd ws122\">Significant holdings:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b2a wc42 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">AB S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 D<span class=\"_ _0\"></span>iversifie<span class=\"_ _0\"></span>d Yield Plus Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1bef y5b2a wc43 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x207d h11 y5b9e ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5b2a wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207e y5b2a wc45 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">4<span class=\"_ _0\"></span>3.09<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wc46 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">AB S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able All Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2080 y5a16 wc47 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x207f h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a16 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y5a16 wc02 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">2<span class=\"_ _0\"></span>5.0<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wc48 h2c1\" id=\"_1cbf904f-d66d-4f29-b34d-978068b30aac\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y631d ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y631d ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y631f ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y631f ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y631f ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y631f ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6320 wc49 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Am<span class=\"_ _0\"></span>erican Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2083 y6320 wc4a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2082 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6320 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6320 w74e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">5<span class=\"_ _0\"></span>6.43%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6321 wc4b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Am<span class=\"_ _0\"></span>erican Equit<span class=\"_ _0\"></span>y Enha<span class=\"_ _0\"></span>nced In<span class=\"_ _0\"></span>dex Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2059 y6321 wc20 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2058 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6321 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6321 wc4c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls55 ws144\">33<span class=\"_ _0\"></span>.83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6322 wc4d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn As<span class=\"_ _0\"></span>ia Pacific Equit<span class=\"_ _0\"></span>y Enhanc<span class=\"_ _0\"></span>ed Inde<span class=\"_ _0\"></span>x F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2086 y6322 wc4e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2085 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6322 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6322 w74e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">32.<span class=\"_ _0\"></span>83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6323 wc4f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn As<span class=\"_ _0\"></span>ia Pacific Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2088 y6323 wc50 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2087 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6323 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y6323 w7d0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23.<span class=\"_ _0\"></span>80%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6324 wc51 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn D<span class=\"_ _0\"></span>ynamic Di<span class=\"_ _0\"></span>stributio<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208a y6324 wc52 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2089 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6324 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y6324 wc53 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">64<span class=\"_ _0\"></span>.83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6325 wc54 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ethic<span class=\"_ _0\"></span>al Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y6325 wbf0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6325 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6325 wbea h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15a ws163\">61.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6326 w344 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e ex UK Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y6326 wc04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6326 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6326 wc55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">20<span class=\"_ _0\"></span>.76%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6327 wc56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e Ex UK I<span class=\"_ _0\"></span>ncome Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208c y6327 wc57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x208b h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6327 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6327 wc58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">3<span class=\"_ _0\"></span>5.41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6328 wc59 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>ean Equit<span class=\"_ _0\"></span>y Enhanc<span class=\"_ _0\"></span>ed Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208f y6328 wc5a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x208e h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6328 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6328 wc5b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">22.40%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6329 wc5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>ean Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2031 y6329 wbf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2030 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6329 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2090 y6329 wc5d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">20<span class=\"_ _2\"></span>.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632a wc5e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity Enh<span class=\"_ _0\"></span>anced I<span class=\"_ _0\"></span>ndex Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2092 y632a wc5f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2091 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632a wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632a wc60 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">23<span class=\"_ _0\"></span>.07<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632b wc61 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203b y632b wc01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632b wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y632b wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.56<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632c wc63 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity T<span class=\"_ _2\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2094 y632c wc64 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2093 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632c wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632c w7d0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23.32<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632d wc65 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Governm<span class=\"_ _0\"></span>ent Bond T<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2096 y632d wc66 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2095 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632d wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632d wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632e wc67 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Inflatio<span class=\"_ _0\"></span>n-Linked Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2098 y632e wc68 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2097 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632e wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2099 y632e wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632f wc69 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Inflatio<span class=\"_ _0\"></span>n-Linked Bon<span class=\"_ _0\"></span>d T<span class=\"_ _4\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x209b y632f wc6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x209a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632f wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x209c y632f w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">5<span class=\"_ _0\"></span>9.63%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6330 wc6b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x209e y6330 wc6c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x209d h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6330 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6330 wc29 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">54<span class=\"_ _0\"></span>.78%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6331 wc6d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Real E<span class=\"_ _0\"></span>state Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a0 y6331 wc6e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x209f h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6331 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20a1 y6331 wc6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">3<span class=\"_ _0\"></span>6.80%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6332 wc70 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2029 y6332 wc71 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a2 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6333 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6333 w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">2<span class=\"_ _0\"></span>6.33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6334 wc72 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Hi<span class=\"_ _0\"></span>gh Yield Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a4 y6334 wc73 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a3 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6334 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y6334 w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">20.6<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6335 wc74 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y Enhance<span class=\"_ _0\"></span>d Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a6 y6335 wc75 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x20a5 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6335 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2090 y6335 wba8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">4<span class=\"_ _0\"></span>6.0<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6336 wc76 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ja<span class=\"_ _0\"></span>panese Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a8 y6336 wc77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a7 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6336 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6336 wc78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ee wc79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Liqui<span class=\"_ _0\"></span>dity Fund (Lu<span class=\"_ _0\"></span>x) \u2013 Euro Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20aa y62ee wc7a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20a9 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ee wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ab y62ee wc7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">32.68%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6337 wc7c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed IV Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ad y6337 wc7d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ac h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6337 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ae y6337 wc7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">6<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f1 wc7f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market I Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b0 y62f1 wc80 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20af h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f1 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y62f1 wc81 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">4<span class=\"_ _0\"></span>4.42<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f2 wc82 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2061 y62f2 wc28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2060 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f2 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y62f2 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6338 wc83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market III Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b2 y6338 wc84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b1 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6338 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6338 wc85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">58.67%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f4 wc86 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market IV Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b4 y62f4 wc87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b3 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f4 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y62f4 wc88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls147 ws152\">55<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>52%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f5 wc89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market V Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b6 y62f5 wc8a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b5 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f5 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20b7 y62f5 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">60<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>51%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6339 wc8b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b9 y6339 wc8c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b8 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6339 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6339 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">4<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633a wc8e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r III Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20bb y633a wc8f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ba h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y633a wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y633a wc5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">60<span class=\"_ _2\"></span>.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f8 wc90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r IV F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20be y62f8 wc91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20bd h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f8 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y62f8 wbae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">6<span class=\"_ _0\"></span>0.88%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f9 wc92 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r V F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c0 y62f9 wc93 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20bf h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f9 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20b7 y62f9 wc94 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">4<span class=\"_ _0\"></span>0.<span class=\"_ _2\"></span>13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad3 wc95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican S<span class=\"_ _0\"></span>mall &amp; Mid-<span class=\"_ _0\"></span>Cap Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c2 y5ad3 wc96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20c1 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5ad3 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y5ad3 wbfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">29.5<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad4 wc97 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Cor<span class=\"_ _0\"></span>porate Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y5ad4 wc04 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5ad4 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y5ad4 wbea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">43.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fc wc98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>uration Glo<span class=\"_ _0\"></span>bal Inflatio<span class=\"_ _0\"></span>n-Linked Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c4 y62fc wc99 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20c3 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62fc wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y62fc wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">26<span class=\"_ _0\"></span>.37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fd wc9a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Diver<span class=\"_ _0\"></span>sified Inc<span class=\"_ _0\"></span>ome Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c6 y62fd wc9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20c5 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62fd wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y62fd wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">32.42<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad7 wc9c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Emerg<span class=\"_ _0\"></span>ing Markets Low V<span class=\"_ _2\"></span>ola<span class=\"_ _0\"></span>tility Equit<span class=\"_ _0\"></span>y Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c9 y5ad7 wc9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20c8 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ad7 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ca y5ad7 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad8 wc9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Europe E<span class=\"_ _0\"></span>x UK Su<span class=\"_ _0\"></span>staina<span class=\"_ _0\"></span>ble Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20cc y5ad8 wc9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20cb h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ad8 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5ad8 wca0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">67<span class=\"_ _4\"></span>.4<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6300 wca1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 GD<span class=\"_ _0\"></span>P W<span class=\"_ _2\"></span>eig<span class=\"_ _0\"></span>hted Globa<span class=\"_ _0\"></span>l Government B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20cf y6300 wca2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20ce h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6300 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d0 y6300 wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">73<span class=\"_ _0\"></span>.72%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633b wca4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d2 y633b wca5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20d1 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633b wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y633b wca6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">99.<span class=\"_ _0\"></span>87%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ada wca7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Corpor<span class=\"_ _0\"></span>ate Sust<span class=\"_ _0\"></span>ainable B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d5 y5ada wca8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20d4 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ada wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y5ada wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">42.02<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adb wca9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Government B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d8 y5adb wcaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x20d7 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5adb wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y5adb wcab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">76<span class=\"_ _0\"></span>.6<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wcac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Japan<span class=\"_ _0\"></span>ese Su<span class=\"_ _0\"></span>staina<span class=\"_ _0\"></span>ble Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20da y62ab wcad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ab wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y62ab wcae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">26<span class=\"_ _0\"></span>.29%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633c wcaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Nor<span class=\"_ _0\"></span>th Ameri<span class=\"_ _0\"></span>can Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20dc y633c wcb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x20db h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633c wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y633c wc02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.4<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633d wcb1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Sho<span class=\"_ _0\"></span>rt Date<span class=\"_ _0\"></span>d Enhanc<span class=\"_ _0\"></span>ed Incom<span class=\"_ _0\"></span>e Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20de y633d wcb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20dd h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633d wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y633d wcb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">24<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ade wcb4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Equit<span class=\"_ _0\"></span>y Impac<span class=\"_ _0\"></span>t F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1086 y5ade wcb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20df h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ade wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y5ade wcb6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">71<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wcb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Inflatio<span class=\"_ _0\"></span>n-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Governme<span class=\"_ _0\"></span>nt Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e1 y62ae wcb8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20e0 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ae wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y62ae w747 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">62.52%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae0 wcb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Sho<span class=\"_ _0\"></span>rt Dur<span class=\"_ _0\"></span>ation Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e3 y5ae0 wcba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e2 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae0 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y5ae0 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">83.<span class=\"_ _0\"></span>23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633e wcbb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Abs<span class=\"_ _0\"></span>olute Return G<span class=\"_ _0\"></span>lobal Bon<span class=\"_ _0\"></span>d Strategie<span class=\"_ _0\"></span>s Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x148b y633e wcbc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e4 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633e wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y633e wbf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">92.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae1 wcbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Eme<span class=\"_ _0\"></span>rging Market Loc<span class=\"_ _0\"></span>al Currenc<span class=\"_ _0\"></span>y Debt Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e6 y5ae1 wcbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20e5 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae1 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5ae1 wcbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls77 ws34\">73<span class=\"_ _0\"></span>.27%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae2 wcc0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e8 y5ae2 wcc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e7 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae2 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y5ae2 wbfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">28.9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae3 wcc2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Small<span class=\"_ _0\"></span>er Compa<span class=\"_ _0\"></span>nies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20dc y5ae3 wcb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20db h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae3 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y5ae3 wc85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">25.67%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae4 wcc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal Corp<span class=\"_ _0\"></span>orate Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ea y5ae4 wcc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20e9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae4 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20eb y5ae4 wba8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">5<span class=\"_ _0\"></span>6.<span class=\"_ _0\"></span>04%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wcc5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal High Yie<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20da y5ae5 wcad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae5 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y5ae5 wba8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">5<span class=\"_ _0\"></span>6.<span class=\"_ _0\"></span>34%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a13 wcc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal Real E<span class=\"_ _0\"></span>state S<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s Sust<span class=\"_ _0\"></span>ainable Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ed y5a13 wcc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20ec h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a13 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ca y5a13 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 wcc8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) Sterling Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ea y5ae6 wcc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20e9 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae6 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2057 y5ae6 wcc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">24<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wcca h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 C<span class=\"_ _0\"></span>hina Onsh<span class=\"_ _0\"></span>ore Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ef y5a15 wccb h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20ee h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a15 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5a15 wca6 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">78<span class=\"_ _0\"></span>.87%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wccc h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ster<span class=\"_ _0\"></span>ling Corp<span class=\"_ _0\"></span>orate Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y5a16 wbf0 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5a16 wb9b h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ae y5a16 wc17 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">46<span class=\"_ _0\"></span>.31%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wccd h2c2\" id=\"_33f2d3fd-f0a3-4a78-9c51-eaddcff688ba\"><tr><td></td><td></td><td class=\"t m0 x1f9b h29 y633f ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 xd04 h29 y633f ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1251 h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x1f9c h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x1f9d h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x941 h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x6bc h29 y6341 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1f9e h29 y6341 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3be h29 y6341 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 h29 y6341 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y6342 wcce h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Str<span class=\"_ _0\"></span>ategic Bo<span class=\"_ _0\"></span>nd Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f1 y6342 wccf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20f0 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6342 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fca y6342 wbe7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">6<span class=\"_ _1\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6343 wcd0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Equity Enh<span class=\"_ _0\"></span>ance<span class=\"_ _0\"></span>d Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f3 y6343 wcd1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20f2 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6343 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f4 y6343 wcd2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">29.23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6344 wcd3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Incom<span class=\"_ _0\"></span>e E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f5 y6344 wc68 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2097 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6344 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f6 y6344 w428 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls170 ws142\">36.05%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6345 wcd4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Mid-<span class=\"_ _0\"></span>Cap Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f7 y6345 wc73 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a3 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6345 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f8 y6345 wc6f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">3<span class=\"_ _0\"></span>4.50%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6346 wcd5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Smaller C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f9 y6346 wc80 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20af h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6346 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6346 wcd6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">32.02%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6347 wcd7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Sust<span class=\"_ _0\"></span>ainable an<span class=\"_ _0\"></span>d Respon<span class=\"_ _0\"></span>sible Investm<span class=\"_ _0\"></span>ent Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20fb y6347 wcd8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20fa h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6347 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20fc y6347 wbae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">4<span class=\"_ _0\"></span>0.68%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6348 wcd9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K V<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>lue Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20fe y6348 wcda h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20fd h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6348 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6348 w3dc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls16e ws17d\">45.<span class=\"_ _0\"></span>83<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6349 wcdb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ACS World Multifa<span class=\"_ _0\"></span>ctor Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2100 y6349 wcdc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ff h11 y5a78 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6349 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6349 wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.56<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634a wcdd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di Global C<span class=\"_ _0\"></span>orp SRI 1<span class=\"_ _0\"></span>-5Y<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2101 y634a wcde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lux<span class=\"_ _0\"></span>emb<span class=\"_ _0\"></span>ou<span class=\"_ _0\"></span>rg\u00b2\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2102 y634a wcdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2103 y634a w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">32.<span class=\"_ _0\"></span>53%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y634b ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di MSCI Em<span class=\"_ _0\"></span>erging </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y634c wce0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">E<span class=\"_ _0\"></span>x China ESG Lea<span class=\"_ _0\"></span>ders S<span class=\"_ _0\"></span>elect<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x128c y634c wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2104 y634c wbe3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2105 y634c wce1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls130 ws135\">43.9<span class=\"_ _0\"></span>6%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634d wce2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i UCITS Funds \u2013 A<span class=\"_ _0\"></span>mundi Glob<span class=\"_ _0\"></span>al Multi-Fa<span class=\"_ _0\"></span>ctor Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2106 y634d wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2107 y634d wce3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UCI<span class=\"_ _0\"></span>TS, sub f<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2108 y634d wca3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">72.<span class=\"_ _0\"></span>37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y634e wce4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">AQR Glob<span class=\"_ _0\"></span>al Risk Premium U<span class=\"_ _0\"></span>CITS Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x210a y634e wce5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x2109 h11 y5a78 ff2 fs9 fc3 sc0 ls1fb ws219\">40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y634e wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210b y634e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634f wce6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford Emerg<span class=\"_ _0\"></span>ing Markets Lea<span class=\"_ _0\"></span>ding Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ddd y634f wce7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh\u00b3<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210c y634f wc39 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d2 y634f wac0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">32.50<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6350 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford Inves<span class=\"_ _0\"></span>tment Funds II I<span class=\"_ _0\"></span>CV<span class=\"_ _2\"></span>C \u2013 </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6351 wce8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford UK Equi<span class=\"_ _0\"></span>ty Co<span class=\"_ _0\"></span>re F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x210d y6351 wce9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b3\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210e y6351 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210f y6351 wcea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">42.73%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6352 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford UK &amp; B<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds ICVC \u2013 Baillie </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6353 wceb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Gif<span class=\"_ _0\"></span>ford UK and Worldw<span class=\"_ _0\"></span>ide Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2110 y6353 wce9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b3\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2111 y6353 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b09 y6353 w7d0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">3<span class=\"_ _0\"></span>0.23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6354 wcec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Barin<span class=\"_ _0\"></span>gs Emergin<span class=\"_ _0\"></span>g Markets De<span class=\"_ _0\"></span>bt Shor<span class=\"_ _0\"></span>t Duratio<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2113 y6354 wced h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin</div><div class=\"t m0 x2112 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6355 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2114 y6355 wc58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">28<span class=\"_ _0\"></span>.41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6356 wcee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Ca<span class=\"_ _0\"></span>sh Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2115 y6356 wcef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2035 h11 y5b82 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y6356 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2116 y6356 wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.86<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6357 wcf0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Glo<span class=\"_ _0\"></span>bal Funds \u2013 Sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le W<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2118 y6357 wcf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2117 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6357 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2119 y6357 wcf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">25.48%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6358 wcf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Adva<span class=\"_ _0\"></span>ntage Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x211b y6358 wcf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x211a h11 y5b56 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6358 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x211c y6358 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.4<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6359 wcf5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock UK A<span class=\"_ _0\"></span>bsolute Alph<span class=\"_ _0\"></span>a F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x211d y6359 wcf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b9e ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y6359 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x211e y6359 wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">2<span class=\"_ _0\"></span>0.1<span class=\"_ _0\"></span>8%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635a w4af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">BNY M<span class=\"_ _0\"></span>ellon Glob<span class=\"_ _0\"></span>al Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x211f y635a wcf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b3\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2120 y635a wcf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>EIC, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2121 y635a wbea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">28.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635b wcf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">BNY M<span class=\"_ _0\"></span>ellon Multi-As<span class=\"_ _0\"></span>set Glob<span class=\"_ _0\"></span>al Balan<span class=\"_ _0\"></span>ced Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2122 y635b wcf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b3\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2123 y635b wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2124 y635b wcfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">37<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635c wcfb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brent Cro<span class=\"_ _0\"></span>ss Par<span class=\"_ _0\"></span>tnership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2126 y635c wcfc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2125 h11 y5b56 ff2 fs9 fc3 sc0 ls207 ws225\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y635c wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2127 y635c w13e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.8<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635d wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Fide<span class=\"_ _0\"></span>lity M<span class=\"_ _0\"></span>ulti Asse<span class=\"_ _0\"></span>t Open Advent<span class=\"_ _0\"></span>urous Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2129 y635d wcfd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>urrey</div><div class=\"t m0 x2128 h11 y5b9e ff2 fs9 fc3 sc0 ls200 ws21e\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y635d wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x212a y635d wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">40<span class=\"_ _0\"></span>.78%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635e wcfe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Gallion<span class=\"_ _0\"></span>s Reach S<span class=\"_ _0\"></span>hopping Park Lim<span class=\"_ _0\"></span>ited Part<span class=\"_ _0\"></span>nership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x212c y635e wcff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x212b h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y635e wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y635e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635f wd00 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Gallion<span class=\"_ _0\"></span>s Reach S<span class=\"_ _0\"></span>hopping Park U<span class=\"_ _0\"></span>nit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x212e y635f wd01 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x212d h11 y5b56 ff2 fs9 fc3 sc0 ls208 ws226\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y635f wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y635f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6360 wd02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Goldm<span class=\"_ _0\"></span>an Sach<span class=\"_ _0\"></span>s SICA<span class=\"_ _2\"></span>V \u2013 Em<span class=\"_ _0\"></span>erging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s T<span class=\"_ _4\"></span>otal Ret<span class=\"_ _0\"></span>urn Bond Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2130 y6360 wd03 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x212f h11 y5b9e ff2 fs9 fc3 sc0 ls209 ws227\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6360 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2131 y6360 wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">86<span class=\"_ _0\"></span>.71%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6361 ff2 fs6 fc3 sc0 ls17f ws1\">Goldm<span class=\"_ _0\"></span>an Sach<span class=\"_ _0\"></span>s SICA<span class=\"_ _2\"></span>V \u2013 G<span class=\"_ _0\"></span>oldman Sa<span class=\"_ _0\"></span>chs </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6362 wd04 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Emerg<span class=\"_ _0\"></span>ing Markets D<span class=\"_ _0\"></span>ebt Port<span class=\"_ _0\"></span>folio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2133 y6362 wd05 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2132 h11 y5b56 ff2 fs9 fc3 sc0 ls209 ws227\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6363 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2134 y6363 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.81%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6364 wd06 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Invesc<span class=\"_ _0\"></span>o Manag<span class=\"_ _0\"></span>ed Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1516 y6364 wd07 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ox<span class=\"_ _0\"></span>fordshire</div><div class=\"t m0 x2135 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6364 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2136 y6364 wd08 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6365 wd09 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson All Stoc<span class=\"_ _0\"></span>ks Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2138 y6365 wd0a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2137 h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6365 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2139 y6365 wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">2<span class=\"_ _0\"></span>5.1<span class=\"_ _0\"></span>7%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6366 wd0b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Diver<span class=\"_ _0\"></span>sified Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213b y6366 wd0c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x213a h11 y5b9e ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6366 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y6366 wac0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">65<span class=\"_ _0\"></span>.06%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6367 wd0d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Eme<span class=\"_ _0\"></span>rging Markets O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc4 y6367 wba5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc3 h11 y5b9e ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6367 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f8 y6367 w451 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">23.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6368 wd0e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Global Responsible Manag<span class=\"_ _0\"></span>ed F<span class=\"_ _2\"></span>und<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213d y6368 wd0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x213c h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6368 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x212a y6368 wd10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">2<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>35%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62a8 wd11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Ins<span class=\"_ _0\"></span>titution<span class=\"_ _0\"></span>al UK Inde<span class=\"_ _0\"></span>x Oppor<span class=\"_ _0\"></span>tunities Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213f y62a8 wd12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x213e h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62a8 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2136 y62a8 wd13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">57<span class=\"_ _2\"></span>.53%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6369 wd14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G A<span class=\"_ _0\"></span>bsolute Retur<span class=\"_ _0\"></span>n Bond Plus Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2140 y6369 wd15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">Lu<span class=\"_ _0\"></span>xe<span class=\"_ _0\"></span>m<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>ou<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>g\u00b3\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2141 y6369 wd16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2142 y6369 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">49.<span class=\"_ _0\"></span>33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6314 wd17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G Em<span class=\"_ _0\"></span>erging Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2143 y6314 wd18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">L<span class=\"_ _0\"></span>ux<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>mb<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>ur<span class=\"_ _0\"></span>g\u00b3<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2144 y6314 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2145 y6314 wd19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">74<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6316 wd1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G M<span class=\"_ _0\"></span>ulti-Asset T<span class=\"_ _2\"></span>arg<span class=\"_ _0\"></span>et Return Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2147 y6316 wd1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x2146 h11 y5b56 ff2 fs9 fc3 sc0 ls20a ws228\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6316 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2148 y6316 wd1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.<span class=\"_ _0\"></span>81%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6317 wd1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Active Sterlin<span class=\"_ _0\"></span>g Corpor<span class=\"_ _0\"></span>ate Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2149 y6317 wd1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214a y6317 wbc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ea y6317 wd1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y636a ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Emerging M<span class=\"_ _0\"></span>arkets Governm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y633d wd20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Bon<span class=\"_ _0\"></span>d (Local Cur<span class=\"_ _0\"></span>rency) Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x214b y633d wd1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214c y633d wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214d y633d wd21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">20.<span class=\"_ _0\"></span>34%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ade wd22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Emerging M<span class=\"_ _0\"></span>arkets Governm<span class=\"_ _0\"></span>ent Bond U<span class=\"_ _0\"></span>SD Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x214e y5ade wd23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214f y5ade wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2150 y5ade wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">32.<span class=\"_ _0\"></span>42%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wd24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al High Inc<span class=\"_ _0\"></span>ome T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2151 y62ae wd25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don<span class=\"_ _2\"></span>\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2152 y62ae wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2153 y62ae wc58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls81 ws14c\">41<span class=\"_ _0\"></span>.01%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wd26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al UK Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2154 y62af wc32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2155 y62af wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2156 y62af wd27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">3<span class=\"_ _2\"></span>1.39%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633e wd28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Ninet<span class=\"_ _0\"></span>y One Fun<span class=\"_ _0\"></span>ds Series i G<span class=\"_ _0\"></span>lobal Ma<span class=\"_ _0\"></span>cro Alloc<span class=\"_ _0\"></span>ation Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2158 y633e wd29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2157 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62b0 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2159 y62b0 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.23<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae1 wd2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L<span class=\"_ _2\"></span>G<span class=\"_ _0\"></span>IM Sterling Liq<span class=\"_ _0\"></span>uidity Plu<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x215b y5ae1 wd2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x215a h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5ae1 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215c y5ae1 wc7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">2<span class=\"_ _0\"></span>1.<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e14 wd2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors Cir<span class=\"_ _0\"></span>ilium Balanc<span class=\"_ _0\"></span>ed Blen<span class=\"_ _0\"></span>d P<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x215d y5e14 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215e y5e14 wc39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215f y5e14 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">35.6<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e15 wd2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors Eth<span class=\"_ _0\"></span>ical Equit<span class=\"_ _0\"></span>y Fund\ue01e<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2020 y5e15 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2160 y5e15 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2161 y5e15 wd2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">3<span class=\"_ _0\"></span>4.75%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae4 wd2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2162 y5ae4 wd30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2163 y5ae4 wcf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>EIC, sub f<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2164 y5ae4 wbf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">54.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae5 wd31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Resp<span class=\"_ _0\"></span>onsible Gl<span class=\"_ _0\"></span>obal High Yie<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2166 y5ae5 wd32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x2165 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5ae5 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2119 y5ae5 wcf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">25.38%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b29 wd33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Robe<span class=\"_ _0\"></span>co \u2013 Phoe<span class=\"_ _0\"></span>nix Custom<span class=\"_ _0\"></span>i<span class=\"_ _2\"></span>zed M<span class=\"_ _0\"></span>ulti Ass<span class=\"_ _0\"></span>et Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2168 y5b29 wd34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Rot<span class=\"_ _0\"></span>terdam</div><div class=\"t m0 x2167 h11 y5b9e ff2 fs9 fc3 sc0 ls20b ws229\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5b29 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2169 y5b29 wd35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">98.88<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b06 wd36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Robe<span class=\"_ _0\"></span>co QI Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets S<span class=\"_ _0\"></span>usta<span class=\"_ _0\"></span>inable Enha<span class=\"_ _0\"></span>nced In<span class=\"_ _0\"></span>dex Equities I<span class=\"_ _0\"></span>I<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x216b y5b06 wd37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x216a h11 y5b9e ff2 fs9 fc3 sc0 ls206 ws224\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5b06 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x216c y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a15 wd38 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder Europe<span class=\"_ _0\"></span>an Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x216e y5a15 wd39 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x216d h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y5a15 wb9e h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x216f y5a15 wc53 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">56<span class=\"_ _0\"></span>.43%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 wd3a h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder Inter<span class=\"_ _0\"></span>national S<span class=\"_ _0\"></span>elec<span class=\"_ _0\"></span>tion Fund \u2013 Globa<span class=\"_ _0\"></span>l Diversifie<span class=\"_ _0\"></span>d Growth<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2171 y5a16 wd3b h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2170 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5a16 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2169 y5a16 wc6f h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">25<span class=\"_ _0\"></span>.69%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wd3c h2c3\" id=\"_10e1de82-3d47-47ad-98f5-2a3b0fc7f19f\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y636b ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y636b ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y636d ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y636d ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y636d ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y636d ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y636e wd3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder U<span class=\"_ _0\"></span>K Mid 250 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2173 y636e wd3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2172 h11 y5a78 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y636e wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2174 y636e wbe7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">2<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y636f wd3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Investm<span class=\"_ _0\"></span>ents Brent C<span class=\"_ _0\"></span>ross LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2176 y636f wd40 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x2175 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y636f wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y636f wd41 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6370 wd42 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Investm<span class=\"_ _0\"></span>ents UK S<span class=\"_ _0\"></span>hopping C<span class=\"_ _0\"></span>entre T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2178 y6370 wd43 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x2177 h11 y5b82 ff2 fs9 fc3 sc0 ls20c ws22a\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6370 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y6370 wd41 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6371 wd44 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">The M<span class=\"_ _0\"></span>arks and Sp<span class=\"_ _0\"></span>encer World<span class=\"_ _0\"></span>wide Mana<span class=\"_ _0\"></span>ged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217a y6371 wd45 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Chest<span class=\"_ _2\"></span>er</div><div class=\"t m0 x2179 h11 y5b82 ff2 fs9 fc3 sc0 ls20b ws229\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6371 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y6371 wca3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">30<span class=\"_ _0\"></span>.42%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6372 wd46 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Threa<span class=\"_ _0\"></span>dnee<span class=\"_ _0\"></span>dle Investme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds ICV<span class=\"_ _2\"></span>C \u2013 Am<span class=\"_ _0\"></span>erican S<span class=\"_ _0\"></span>elec<span class=\"_ _0\"></span>t Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217c y6372 wd47 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x217b h11 y5a78 ff2 fs9 fc3 sc0 ls20d ws22b\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6372 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6372 wcd6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">20.32%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6373 ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Comm<span class=\"_ _0\"></span>on<span class=\"_ _2\"></span> C<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>actual Fu<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> \u2013 V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6374 wd48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">U.<span class=\"_ _0\"></span>S. Equit<span class=\"_ _0\"></span>y Index C<span class=\"_ _0\"></span>ommon C<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217e y6374 wd49 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x217d h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6374 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x217f y6374 wd4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bf ws1d3\">77<span class=\"_ _2\"></span>.40%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6375 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard Inves<span class=\"_ _0\"></span>tment Se<span class=\"_ _0\"></span>ries plc \u2013 V<span class=\"_ _2\"></span>an<span class=\"_ _0\"></span>guard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6376 wd4b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Global Corporate Bond Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2181 y6376 wd4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2180 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6377 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2182 y6377 wd4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20e ws22c\">38.21<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6378 ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investment Series plc \u2013 V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard<span class=\"_ _2\"></span> Glob<span class=\"_ _0\"></span>al </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6379 wd4e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sho<span class=\"_ _0\"></span>rt-<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>m Corpor<span class=\"_ _0\"></span>ate Bond Ind<span class=\"_ _0\"></span>ex F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2184 y6379 wd4f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2183 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y637a wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2185 y637a wd50 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">41.<span class=\"_ _0\"></span>55%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y637b wd51 h202\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard Inves<span class=\"_ _0\"></span>tment Se<span class=\"_ _0\"></span>ries plc \u2013 V<span class=\"_ _2\"></span>an<span class=\"_ _0\"></span>guard U.<span class=\"_ _0\"></span>K. Sh<span class=\"_ _0\"></span>ort-<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rm Investm<span class=\"_ _0\"></span>ent Grade B<span class=\"_ _0\"></span>ond Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2187 y637b wd52 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2186 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y637b wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ab y637b wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">42<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637c ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce4 wd53 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped Europ<span class=\"_ _0\"></span>e ex UK Comm<span class=\"_ _0\"></span>on Contra<span class=\"_ _0\"></span>ctual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2189 y5ce4 wd54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2188 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ce4 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x218a y5ce4 wc8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637d ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce6 wd55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped World C<span class=\"_ _0\"></span>ommon Co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>ual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x218c y5ce6 wd56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x218b h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5c3a wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x218d y5c3a wc24 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">4<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>.12%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637e ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wd57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped World ex U<span class=\"_ _0\"></span>K Commo<span class=\"_ _0\"></span>n Contrac<span class=\"_ _0\"></span>tual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x218f y5a16 wd58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin</div><div class=\"t m0 x218e h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a16 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x217f y5a16 wc8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table>1<span class=\"fc3\"> <span class=\"_ _118\"> </span></span>Wyt<span class=\"_ _0\"></span>hall G<span class=\"_ _0\"></span>reen Way, Wy<span class=\"_ _0\"></span>tha<span class=\"_ _0\"></span>ll, Bir<span class=\"_ _0\"></span>mingh<span class=\"_ _0\"></span>am, We<span class=\"_ _0\"></span>st Mid<span class=\"_ _0\"></span>lands<span class=\"_ _0\"></span>, B47 6<span class=\"_ _0\"></span>WG, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span>2 <span class=\"_ _f4\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>tand<span class=\"_ _0\"></span>ard Life H<span class=\"_ _0\"></span>ous<span class=\"_ _0\"></span>e, 30 Lot<span class=\"_ _0\"></span>hian Ro<span class=\"_ _0\"></span>ad, Edi<span class=\"_ _0\"></span>nburg<span class=\"_ _0\"></span>h, EH1 2<span class=\"_ _0\"></span>DH<span class=\"_ _0\"></span>, Unite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>3 <span class=\"_ _f4\"> </span><span class=\"fc8\">9<span class=\"_ _0\"></span>0 St. S<span class=\"_ _0\"></span>tephe<span class=\"_ _0\"></span>n\u2019s Gree<span class=\"_ _0\"></span>n, Du<span class=\"_ _0\"></span>blin, D<span class=\"_ _0\"></span>2, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span>4 <span class=\"_ _f4\"> </span><span class=\"fc8\">W<span class=\"_ _0\"></span>indso<span class=\"_ _0\"></span>r Hous<span class=\"_ _0\"></span>e, T<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lford C<span class=\"_ _0\"></span>entre<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>elfo<span class=\"_ _0\"></span>rd, Sh<span class=\"_ _0\"></span>rops<span class=\"_ _0\"></span>hire, TF<span class=\"_ _0\"></span>3 4NB<span class=\"_ _0\"></span>, Unit<span class=\"_ _0\"></span>ed King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>5 <span class=\"_ _f4\"> </span><span class=\"fc8\">G<span class=\"_ _0\"></span>oodb<span class=\"_ _0\"></span>ody S<span class=\"_ _0\"></span>ecre<span class=\"_ _0\"></span>tari<span class=\"_ _0\"></span>al Limite<span class=\"_ _0\"></span>d, Int<span class=\"_ _0\"></span>erna<span class=\"_ _0\"></span>tiona<span class=\"_ _0\"></span>l Finan<span class=\"_ _0\"></span>cial S<span class=\"_ _0\"></span>er<span class=\"_ _0\"></span>vices C<span class=\"_ _0\"></span>entr<span class=\"_ _0\"></span>e, 25/28 N<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>h Wall Qu<span class=\"_ _0\"></span>ay<span class=\"_ _2\"></span>, D<span class=\"_ _0\"></span>ublin 1<span class=\"_ _0\"></span>, Ire<span class=\"_ _0\"></span>land<span class=\"_ _3bd\"> </span></span>6 <span class=\"_ _f4\"> </span><span class=\"fc8 ls21 ws23\">1 Georg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> Stre<span class=\"_ _0\"></span>et, Edinburgh, EH2 2LL<span class=\"_ _0\"></span>, United Kingdom<span class=\"_ _3bd\"> </span></span>7 <span class=\"_ _10\"> </span><span class=\"fc8\">2<span class=\"_ _0\"></span>2-2<span class=\"_ _2\"></span>4 N<span class=\"_ _0\"></span>ew Stre<span class=\"_ _0\"></span>et, St P<span class=\"_ _0\"></span>auls Ga<span class=\"_ _0\"></span>te, 4th Fl<span class=\"_ _0\"></span>oor, JE1 4<span class=\"_ _0\"></span>TR, J<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>ey<span class=\"_ _3bd\"> </span></span>8 <span class=\"_ _f4\"> </span><span class=\"fc8 ls11 ws11\">20 Old Bailey,<span class=\"_ _2\"></span> London, England, EC4M 7AN, United Ki<span class=\"_ _2\"></span>ng<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>9 <span class=\"_ _f4\"> </span><span class=\"fc8 ls54 ws7f\">Ugland House,<span class=\"_ _2\"></span> Grand Cayman,<span class=\"_ _2\"></span> K<span class=\"_ _0\"></span>Y<span class=\"_ _2\"></span>1-1104, Cayman<span class=\"_ _2\"></span> Islands<span class=\"_ _3bd\"> </span></span>10 <span class=\"_ _154\"> </span><span class=\"fc8\">Aven<span class=\"_ _0\"></span>ue Loui<span class=\"_ _0\"></span>se 326<span class=\"_ _0\"></span>, bte 3<span class=\"_ _0\"></span>3 105<span class=\"_ _0\"></span>0 Brus<span class=\"_ _0\"></span>sels<span class=\"_ _0\"></span>, Bel<span class=\"_ _0\"></span>gium<span class=\"_ _3bd\"> </span></span>11 <span class=\"_ _14\"> </span><span class=\"fc8\">Tele<span class=\"_ _0\"></span>stone 8<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lepo<span class=\"_ _0\"></span>rt, N<span class=\"_ _0\"></span>arit<span class=\"_ _0\"></span>aweg 1<span class=\"_ _0\"></span>65<span class=\"_ _0\"></span>, 104<span class=\"_ _0\"></span>3 BW, Ams<span class=\"_ _0\"></span>terd<span class=\"_ _0\"></span>am, Ne<span class=\"_ _0\"></span>ther<span class=\"_ _0\"></span>lands<span class=\"_ _3bd\"> </span></span>12 <span class=\"_ _16\"> </span><span class=\"fc8\">Cit<span class=\"_ _0\"></span>co (Swe<span class=\"_ _0\"></span>den) Ab<span class=\"_ _0\"></span>, Sture<span class=\"_ _0\"></span>plan 4<span class=\"_ _0\"></span>c, 4 Tr<span class=\"_ _2\"></span>, 11<span class=\"_ _0\"></span>4 35 Sto<span class=\"_ _0\"></span>ckho<span class=\"_ _0\"></span>lm, Swe<span class=\"_ _0\"></span>den<span class=\"_ _3bd\"> </span></span>13 <span class=\"_ _16\"> </span><span class=\"fc8\">c/o Citco (<span class=\"_ _0\"></span>Denm<span class=\"_ _0\"></span>ark) A<span class=\"_ _0\"></span>pS, H<span class=\"_ _0\"></span>olbe<span class=\"_ _0\"></span>rgsg<span class=\"_ _0\"></span>ade 14<span class=\"_ _0\"></span>, 2 .tv, 1<span class=\"_ _0\"></span>057 K<span class=\"_ _0\"></span>\u00f8be<span class=\"_ _0\"></span>nhavn K D<span class=\"_ _0\"></span>enma<span class=\"_ _0\"></span>rk<span class=\"_ _3bd\"> </span></span>14 <span class=\"_ _f1\"> </span><span class=\"fc8 ls11 ws11\">2<span class=\"_ _0\"></span>01<span class=\"_ _2\"></span> Bishopsg<span class=\"_ _0\"></span>ate,<span class=\"_ _2\"></span> London, EC2M 3AE, United Kingdom<span class=\"_ _3bd\"> </span></span>15 <span class=\"_ _16\"> </span><span class=\"fc8\">2-4<span class=\"_ _0\"></span>, Rue Eu<span class=\"_ _0\"></span>g\u00e8n<span class=\"_ _0\"></span>e Ruppe<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>, L<span class=\"_ _3\"></span>-245<span class=\"_ _0\"></span>3 Luxem<span class=\"_ _0\"></span>bourg<span class=\"_ _0\"></span>, Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g<span class=\"_ _3bd\"> </span></span>16 <span class=\"_ _f1\"> </span><span class=\"fc8\">3<span class=\"_ _0\"></span>5a Aven<span class=\"_ _0\"></span>ue J.<span class=\"_ _0\"></span>F<span class=\"_ _4\"></span>. Ke<span class=\"_ _0\"></span>nned<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, L<span class=\"_ _2\"></span>-18<span class=\"_ _0\"></span>55, L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>17 <span class=\"_ _137\"> </span><span class=\"fc8\">Og<span class=\"_ _0\"></span>ier Ho<span class=\"_ _0\"></span>use, T<span class=\"_ _0\"></span>he Esp<span class=\"_ _0\"></span>lana<span class=\"_ _0\"></span>de, St H<span class=\"_ _0\"></span>elie<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>E<span class=\"_ _2\"></span>4 9<span class=\"_ _0\"></span>WG, Je<span class=\"_ _0\"></span>rsey<span class=\"_ _3bd\"> </span></span>18 <span class=\"_ _f1\"> </span><span class=\"fc8\">3<span class=\"_ _0\"></span>2 Mole<span class=\"_ _0\"></span>swor<span class=\"_ _0\"></span>th Str<span class=\"_ _0\"></span>eet, D<span class=\"_ _0\"></span>ublin 2<span class=\"_ _0\"></span>, Dubl<span class=\"_ _0\"></span>in, D0<span class=\"_ _0\"></span>2 Y512, I<span class=\"_ _0\"></span>relan<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></span>19 <span class=\"_ _f1\"> </span><span class=\"fc8\">8 C<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>a Squa<span class=\"_ _0\"></span>re, Lon<span class=\"_ _0\"></span>don, E<span class=\"_ _0\"></span>14 5HQ, U<span class=\"_ _0\"></span>nited K<span class=\"_ _0\"></span>ingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>20 <span class=\"_ _f6\"> </span><span class=\"fc8 ls11 ws11\">12 Throgmorton Avenue, L<span class=\"_ _2\"></span>ondon EC2N 2DL, United Kingdom<span class=\"_ _3bd\"> </span></span>21 <span class=\"_ _16\"> </span><span class=\"fc8 ls11 ws11\">One Coleman Street, London, EC2R 5AA, United Kingdom<span class=\"_ _3bd\"> </span></span>22 <span class=\"_ _107\"> </span><span class=\"fc8\">Se<span class=\"_ _0\"></span>nator H<span class=\"_ _0\"></span>ouse<span class=\"_ _0\"></span>, 85 Q<span class=\"_ _0\"></span>ueen V<span class=\"_ _0\"></span>ictor<span class=\"_ _0\"></span>ia Stre<span class=\"_ _0\"></span>et, Lon<span class=\"_ _0\"></span>don<span class=\"_ _0\"></span>, EC4V 4AB<span class=\"_ _0\"></span>, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>23 <span class=\"_ _107\"> </span><span class=\"fc8\">5, Al<span class=\"_ _0\"></span>l\u00e9e S<span class=\"_ _0\"></span>chef<span class=\"_ _0\"></span>fer, L<span class=\"_ _4\"></span>-2520 Lux<span class=\"_ _0\"></span>embo<span class=\"_ _0\"></span>urg, Lu<span class=\"_ _0\"></span>xemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>24 <span class=\"_ _107\"> </span><span class=\"fc8 ls1 ws1\">Kin<span class=\"_ _0\"></span>gs Pla<span class=\"_ _0\"></span>ce, 9<span class=\"_ _0\"></span>0 Y<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>k Way<span class=\"_ _2\"></span>, Lo<span class=\"_ _0\"></span>ndon<span class=\"_ _0\"></span>, N1 9G<span class=\"_ _0\"></span>E, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>25 <span class=\"_ _107\"> </span><span class=\"fc8\">Eliza<span class=\"_ _0\"></span>beth H<span class=\"_ _0\"></span>ouse<span class=\"_ _0\"></span>, 9 Cas<span class=\"_ _0\"></span>tle Stre<span class=\"_ _0\"></span>et, S<span class=\"_ _0\"></span>t Helie<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>E4 2QP<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>ey<span class=\"_ _3bd\"> </span></span>26 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">Cannon Place, 78 Cannon Street, London, EC4N 6A<span class=\"_ _2\"></span>G, United Kingdom<span class=\"_ _3bd\"> </span></span>27 <span class=\"_ _15\"> </span><span class=\"fc8\">70 Sir J<span class=\"_ _0\"></span>ohn Ro<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>son\u2019s Qu<span class=\"_ _0\"></span>ay<span class=\"_ _2\"></span>, D<span class=\"_ _0\"></span>ublin 2<span class=\"_ _0\"></span>, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span>28 <span class=\"_ _27\"> </span><span class=\"fc8\">B<span class=\"_ _0\"></span>eec<span class=\"_ _0\"></span>h Gate, M<span class=\"_ _0\"></span>illfie<span class=\"_ _0\"></span>ld Lan<span class=\"_ _0\"></span>e, Lower K<span class=\"_ _0\"></span>ings<span class=\"_ _0\"></span>wood<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>ad<span class=\"_ _0\"></span>wort<span class=\"_ _0\"></span>h, Su<span class=\"_ _0\"></span>rrey, KT<span class=\"_ _0\"></span>20 6R<span class=\"_ _0\"></span>P<span class=\"_ _2\"></span>, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>29 <span class=\"_ _27\"> </span><span class=\"fc8\">4<span class=\"_ _0\"></span>9, Aven<span class=\"_ _0\"></span>ue J.F. Kenne<span class=\"_ _0\"></span>dy, L<span class=\"_ _4\"></span>-18<span class=\"_ _0\"></span>55 Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg, Gr<span class=\"_ _0\"></span>and D<span class=\"_ _0\"></span>uchy of Lux<span class=\"_ _0\"></span>embo<span class=\"_ _0\"></span>urg<span class=\"_ _3bd\"> </span></span>30 <span class=\"_ _f6\"> </span><span class=\"fc8 ls11 ws11\">Perpetual Park, P<span class=\"_ _2\"></span>erpetual Park Drive, Henley-on-<span class=\"_ _2\"></span>Thames<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span> O<span class=\"_ _0\"></span>xfordshire,<span class=\"_ _2\"></span> RG<span class=\"_ _0\"></span>9<span class=\"_ _2\"></span> 1H<span class=\"_ _0\"></span>H, United<span class=\"_ _2\"></span> King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>31 <span class=\"_ _16\"> </span><span class=\"fc8\">10<span class=\"_ _0\"></span>, Ch\u00e2te<span class=\"_ _0\"></span>au d\u2019<span class=\"_ _0\"></span>Eau<span class=\"_ _0\"></span>, L<span class=\"_ _4\"></span>-33<span class=\"_ _0\"></span>64 Le<span class=\"_ _0\"></span>udela<span class=\"_ _0\"></span>nge<span class=\"_ _0\"></span>, Gran<span class=\"_ _0\"></span>d Duchy of L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>32 <span class=\"_ _107\"> </span><span class=\"fc8\">Cal<span class=\"_ _0\"></span>ton Squ<span class=\"_ _0\"></span>are, 1 G<span class=\"_ _0\"></span>reen<span class=\"_ _0\"></span>side Ro<span class=\"_ _0\"></span>w, Edinbu<span class=\"_ _0\"></span>rgh, EH<span class=\"_ _0\"></span>1 3AN, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>33 <span class=\"_ _27\"> </span><span class=\"fc8\">1<span class=\"_ _0\"></span>60 Q<span class=\"_ _0\"></span>uee<span class=\"_ _0\"></span>n Victo<span class=\"_ _0\"></span>ria Stre<span class=\"_ _0\"></span>et, Lo<span class=\"_ _0\"></span>ndon<span class=\"_ _0\"></span>, EC4V 4<span class=\"_ _0\"></span>LA<span class=\"_ _0\"></span>, Unite<span class=\"_ _0\"></span>d King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>34 <span class=\"_ _27\"> </span><span class=\"fc8\">C<span class=\"_ _0\"></span>anon\u2019s C<span class=\"_ _0\"></span>our<span class=\"_ _0\"></span>t, 22 Vic<span class=\"_ _0\"></span>tori<span class=\"_ _0\"></span>a Stree<span class=\"_ _0\"></span>t, Ha<span class=\"_ _0\"></span>milton<span class=\"_ _0\"></span>, HM1<span class=\"_ _0\"></span>2, Ber<span class=\"_ _0\"></span>muda<span class=\"_ _3bd\"> </span></span>35 <span class=\"_ _27\"> </span><span class=\"fc8\">M<span class=\"_ _0\"></span>atri<span class=\"_ _0\"></span>x<span class=\"_ gs1f7\"> </span>Hous<span class=\"_ _0\"></span>e,<span class=\"_ gs1f7\"> </span>Ba<span class=\"_ _0\"></span>sing<span class=\"_ gs1f7\"> </span>Vie<span class=\"_ _0\"></span>w,<span class=\"_ gs1f7\"> </span>Basi<span class=\"_ _0\"></span>ngs<span class=\"_ _0\"></span>toke,<span class=\"_ gs1f7\"> </span>Ha<span class=\"_ _0\"></span>mpshi<span class=\"_ _0\"></span>re,<span class=\"_ gs1f7\"> </span>RG2<span class=\"_ _0\"></span>1<span class=\"_ gs1f7\"> </span>4DZ,<span class=\"_ gs1f7\"> </span>U<span class=\"_ _0\"></span>nited Ki<span class=\"_ _0\"></span>ngdo<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></span>36 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">280 Bishopsgate, London, EC2M 4AG,<span class=\"_ _2\"></span> United Kingdom<span class=\"_ _3bd\"> </span></span>37 <span class=\"_ _107\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>enni<span class=\"_ _0\"></span>nger<span class=\"_ _0\"></span>berg<span class=\"_ _0\"></span>, 6, Ro<span class=\"_ _0\"></span>ute De Tr\u00e8ves<span class=\"_ _0\"></span>, L<span class=\"_ _4\"></span>-263<span class=\"_ _0\"></span>3, Lu<span class=\"_ _0\"></span>xemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>38 <span class=\"_ _27\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>ennin<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>berg<span class=\"_ _0\"></span>, 6, Lo<span class=\"_ _0\"></span>u Hemm<span class=\"_ _0\"></span>er Stre<span class=\"_ _0\"></span>et, L<span class=\"_ _2\"></span>-1748, L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>39 <span class=\"_ _27\"> </span><span class=\"fc8\">Wee<span class=\"_ _0\"></span>na 85<span class=\"_ _0\"></span>0, 30<span class=\"_ _0\"></span>14 DA, R<span class=\"_ _0\"></span>otte<span class=\"_ _0\"></span>rdam<span class=\"_ _0\"></span>, Nethe<span class=\"_ _0\"></span>rlan<span class=\"_ _0\"></span>ds<span class=\"_ _3bd\"> </span></span>40 <span class=\"_ _f6\"> </span><span class=\"fc8\">Hes<span class=\"_ _0\"></span>pera<span class=\"_ _0\"></span>nge, 3<span class=\"_ _0\"></span>3, r<span class=\"_ _0\"></span>ue de Ga<span class=\"_ _0\"></span>sper<span class=\"_ _0\"></span>ich, L<span class=\"_ _2\"></span>-5<span class=\"_ _0\"></span>826<span class=\"_ _0\"></span>, Luxem<span class=\"_ _0\"></span>bourg<span class=\"_ _3bd\"> </span></span>41 <span class=\"_ _f1\"> </span><span class=\"fc8\">2<span class=\"_ _0\"></span>0, rue d<span class=\"_ _0\"></span>e la Pos<span class=\"_ _0\"></span>te, Gra<span class=\"_ _0\"></span>nd Duc<span class=\"_ _0\"></span>hy of Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g, L<span class=\"_ _4\"></span>-23<span class=\"_ _0\"></span>46<span class=\"_ _0\"></span>, Luxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>42 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">1 London Wall<span class=\"_ _2\"></span> Plac<span class=\"_ _0\"></span>e,<span class=\"_ _2\"></span> London, EC2Y 5AU,<span class=\"_ _2\"></span> United Kingdom<span class=\"_ _3bd\"> </span></span>43 <span class=\"_ _27\"> </span><span class=\"fc8 ls4d wsbf\">Senningerberg, 5, Hohenhof<span class=\"_ _2\"></span>, L<span class=\"_ _4\"></span>-1<span class=\"_ _2\"></span>736<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span> Luxembourg<span class=\"_ _3bd\"> </span></span>4<span class=\"_ _0\"></span>4 <span class=\"_ _f6\"> </span><span class=\"fc8\">33 Si<span class=\"_ _0\"></span>r John Ro<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>sons Q<span class=\"_ _0\"></span>uay, Dub<span class=\"_ _0\"></span>lin, D<span class=\"_ _0\"></span>02 XK09<span class=\"_ _0\"></span>, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span>45 <span class=\"_ _27\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>t. Pete<span class=\"_ _0\"></span>r Port<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>udo<span class=\"_ _0\"></span>r Hous<span class=\"_ _0\"></span>e, Le Bo<span class=\"_ _0\"></span>rdag<span class=\"_ _0\"></span>e, GY1 6B<span class=\"_ _0\"></span>D, Gue<span class=\"_ _0\"></span>rnse<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></span>46 <span class=\"_ _27\"> </span><span class=\"fc8\">Hig<span class=\"_ _0\"></span>hvis<span class=\"_ _0\"></span>ta Stra<span class=\"_ _0\"></span>tegi<span class=\"_ _0\"></span>es LLC, 20<span class=\"_ _0\"></span>0 Clare<span class=\"_ _0\"></span>ndon S<span class=\"_ _0\"></span>treet 5<span class=\"_ _0\"></span>0th F<span class=\"_ _0\"></span>loor, Bos<span class=\"_ _0\"></span>ton<span class=\"_ _0\"></span>, Mas<span class=\"_ _0\"></span>sach<span class=\"_ _0\"></span>uset<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, 0211<span class=\"_ _0\"></span>6, Un<span class=\"_ _0\"></span>ited St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span>47 <span class=\"_ _107\"> </span><span class=\"fc8\">C<span class=\"_ _0\"></span>orpo<span class=\"_ _0\"></span>ratio<span class=\"_ _0\"></span>n T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Cen<span class=\"_ _0\"></span>tre, 12<span class=\"_ _0\"></span>90 Or<span class=\"_ _0\"></span>ang<span class=\"_ _0\"></span>e Stree<span class=\"_ _0\"></span>t, Wilm<span class=\"_ _0\"></span>ingt<span class=\"_ _0\"></span>on, 1<span class=\"_ _0\"></span>980<span class=\"_ _0\"></span>1, Un<span class=\"_ _0\"></span>ited St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span>48 <span class=\"_ _27\"> </span><span class=\"fc8\">c/o Mar<span class=\"_ _0\"></span>ks and S<span class=\"_ _0\"></span>penc<span class=\"_ _0\"></span>er Uni<span class=\"_ _0\"></span>t T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent Lim<span class=\"_ _0\"></span>ited<span class=\"_ _0\"></span>, Kings M<span class=\"_ _0\"></span>ead<span class=\"_ _0\"></span>ow, Ches<span class=\"_ _0\"></span>ter Bu<span class=\"_ _0\"></span>sine<span class=\"_ _0\"></span>ss Park<span class=\"_ _0\"></span>, Che<span class=\"_ _0\"></span>ster, CH<span class=\"_ _0\"></span>99 9<span class=\"_ _0\"></span>FB, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>49 <span class=\"_ _27\"> </span><span class=\"fc8\">16 C<span class=\"_ _0\"></span>harl<span class=\"_ _0\"></span>otte S<span class=\"_ _0\"></span>quare<span class=\"_ _0\"></span>, Edinb<span class=\"_ _0\"></span>urgh<span class=\"_ _0\"></span>, EH2 4D<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>50 <span class=\"_ _f6\"> </span><span class=\"fc8\">Cor<span class=\"_ _0\"></span>pora<span class=\"_ _0\"></span>tion S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce Co<span class=\"_ _0\"></span>mpany, 251 Li<span class=\"_ _0\"></span>ttl<span class=\"_ _0\"></span>e Falls Dr<span class=\"_ _0\"></span>ive, Wi<span class=\"_ _0\"></span>lming<span class=\"_ _0\"></span>ton, D<span class=\"_ _0\"></span>E 19<span class=\"_ _0\"></span>808<span class=\"_ _0\"></span>, Uni<span class=\"_ _0\"></span>ted St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span>51 <span class=\"_ _16\"> </span><span class=\"fc8 ls1 ws1\">4<span class=\"_ _0\"></span>4 Espl<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>e, St He<span class=\"_ _0\"></span>lier, Jer<span class=\"_ _0\"></span>sey, Ch<span class=\"_ _0\"></span>anne<span class=\"_ _0\"></span>l Islan<span class=\"_ _0\"></span>ds, J<span class=\"_ _0\"></span>E4 9WG, J<span class=\"_ _0\"></span>erse<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></span>52 <span class=\"_ _107\"> </span><span class=\"fc8\">50 Lot<span class=\"_ _0\"></span>hian Ro<span class=\"_ _0\"></span>ad, Fe<span class=\"_ _0\"></span>stiva<span class=\"_ _0\"></span>l Squ<span class=\"_ _0\"></span>are, Edi<span class=\"_ _0\"></span>nburg<span class=\"_ _0\"></span>h, EH3 9<span class=\"_ _0\"></span>W<span class=\"_ _2\"></span>J, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>53 <span class=\"_ _27\"> </span><span class=\"fc8\">5<span class=\"_ _0\"></span>5 Gres<span class=\"_ _0\"></span>ham St<span class=\"_ _0\"></span>reet<span class=\"_ _0\"></span>, Londo<span class=\"_ _0\"></span>n, EC2V 7<span class=\"_ _0\"></span>EL, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>54 <span class=\"_ _27\"> </span><span class=\"fc8\">1 Wa<span class=\"_ _0\"></span>ll Plac<span class=\"_ _0\"></span>e, Lon<span class=\"_ _0\"></span>don, EC<span class=\"_ _0\"></span>2Y 5AU, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies have bee<span class=\"_ _0\"></span>n granted an a<span class=\"_ _0\"></span>udit exemption by pa<span class=\"_ _0\"></span>rental gua<span class=\"_ _0\"></span>rantee by vir<span class=\"_ _0\"></span>tue of s.479A of the C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s Act 20<span class=\"_ _0\"></span>06:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Brit<span class=\"_ _0\"></span>annic Fina<span class=\"_ _0\"></span>nce Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">Britan<span class=\"_ _0\"></span>nic<span class=\"_ _2\"></span> M<span class=\"_ _0\"></span>oney Inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment Ser<span class=\"_ _0\"></span>vices Limited<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>G Life H Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>G As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e &amp; P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsions S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pearl A<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce Group H<span class=\"_ _0\"></span>oldings Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pearl C<span class=\"_ _0\"></span>ustomer C<span class=\"_ _0\"></span>are Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>H CA Limited (previo<span class=\"_ _0\"></span>usly known a<span class=\"_ _0\"></span>s Sun Life of Canad<span class=\"_ _0\"></span>a UK Holdin<span class=\"_ _0\"></span>gs Limited)<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>MS (Glas<span class=\"_ _0\"></span>gow) Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>S 2 Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Cus<span class=\"_ _0\"></span>tomer Care Lim<span class=\"_ _0\"></span>ited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 1 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 2 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 3 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 4 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Wealth H<span class=\"_ _0\"></span>oldings Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ReA<span class=\"_ _0\"></span>ssure Co<span class=\"_ _0\"></span>mpanies S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ReA<span class=\"_ _0\"></span>ssure FSH U<span class=\"_ _0\"></span>K Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>V<span class=\"_ _2\"></span>eb<span class=\"_ _0\"></span>net Limited<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies were diss<span class=\"_ _0\"></span>olved during t<span class=\"_ _0\"></span>he perio<span class=\"_ _0\"></span>d. The subsi<span class=\"_ _0\"></span>diaries were de<span class=\"_ _0\"></span>conso<span class=\"_ _0\"></span>lidated from the d<span class=\"_ _0\"></span>ate of dissolut<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Govern<span class=\"_ _0\"></span>ment All Stocks Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) UK Cor<span class=\"_ _0\"></span>porate Bon<span class=\"_ _0\"></span>d T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) European T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) European T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st II<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Global R<span class=\"_ _0\"></span>EIT Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Japan Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Sterling Interm<span class=\"_ _0\"></span>ediate Cred<span class=\"_ _0\"></span>it F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PC M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies were eithe<span class=\"_ _0\"></span>r fully dispo<span class=\"_ _0\"></span>sed of or the G<span class=\"_ _0\"></span>roup was no lon<span class=\"_ _0\"></span>ger de<span class=\"_ _0\"></span>emed to co<span class=\"_ _0\"></span>ntrol the subsidi<span class=\"_ _0\"></span>ary. The subs<span class=\"_ _0\"></span>idiaries were dec<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted from eithe<span class=\"_ _0\"></span>r the date of dispo<span class=\"_ _0\"></span>sal or from the d<span class=\"_ _0\"></span>ate when the Gro<span class=\"_ _0\"></span>up was deem<span class=\"_ _0\"></span>ed to no lon<span class=\"_ _0\"></span>ger contro<span class=\"_ _0\"></span>l the subsidia<span class=\"_ _0\"></span>ry<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>28 Rib<span class=\"_ _0\"></span>eria de Loira S<span class=\"_ _0\"></span>L<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>33<span class=\"_ _0\"></span>0 Avenida de Ara<span class=\"_ _0\"></span>gon SL<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Amun<span class=\"_ _0\"></span>di MSCI Worl<span class=\"_ _0\"></span>d Climate T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>nsition CTB<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>G Park M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Com<span class=\"_ _0\"></span>pany Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>IFS<span class=\"_ _0\"></span>L AMR O<span class=\"_ _0\"></span>EIC- IFS<span class=\"_ _0\"></span>L AR Diversifie<span class=\"_ _0\"></span>d Port<span class=\"_ _0\"></span>folio<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al and Ge<span class=\"_ _0\"></span>neral Grow<span class=\"_ _0\"></span>th T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>BN<span class=\"_ _0\"></span>Y Mellon 50/50 G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Fund \u2022 <span class=\"_ _19\"> </span>Aviva Inves<span class=\"_ _0\"></span>tors UK Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Fee<span class=\"_ _0\"></span>der T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>BS Global O<span class=\"_ _0\"></span>ptimal Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>LA Irela<span class=\"_ _0\"></span>nd No.1 S.<span class=\"_ _0\"></span>\u00e0.r<span class=\"_ _2\"></span>.l<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing ass<span class=\"_ _0\"></span>ociates were dis<span class=\"_ _0\"></span>solved d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod. The inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in asso<span class=\"_ _0\"></span>ciates were dere<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed from the d<span class=\"_ _0\"></span>ate of dissolut<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty R<span class=\"_ _0\"></span>EIT Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty E<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>s Holding<span class=\"_ _0\"></span>s Limited \u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty E<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>s Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty F<span class=\"_ _0\"></span>inance H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>D<span class=\"_ _0\"></span>uk<span class=\"_ _2\"></span>e Dis<span class=\"_ _0\"></span>tribution C<span class=\"_ _0\"></span>entres S<span class=\"_ _0\"></span>.\u00e0.r.l.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>D<span class=\"_ _0\"></span>uk<span class=\"_ _2\"></span>e Of<span class=\"_ _0\"></span>fices &amp; D<span class=\"_ _0\"></span>evelopme<span class=\"_ _0\"></span>nts S.<span class=\"_ _0\"></span>\u00e0.r<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>l.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up no long<span class=\"_ _0\"></span>er has sign<span class=\"_ _0\"></span>ificant hol<span class=\"_ _0\"></span>dings in the follow<span class=\"_ _0\"></span>ing under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n Income Equ<span class=\"_ _0\"></span>ity Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn U<span class=\"_ _0\"></span>K Governme<span class=\"_ _0\"></span>nt Bond Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn U<span class=\"_ _0\"></span>K Incom<span class=\"_ _0\"></span>e Uncon<span class=\"_ _0\"></span>straine<span class=\"_ _0\"></span>d Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn I<span class=\"_ _0\"></span>nv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment G<span class=\"_ _0\"></span>rade Co<span class=\"_ _0\"></span>rporate Bon<span class=\"_ _0\"></span>d Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn Em<span class=\"_ _0\"></span>erging M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Local Cur<span class=\"_ _0\"></span>rency Bo<span class=\"_ _0\"></span>nd T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>CF M<span class=\"_ _0\"></span>acqua<span class=\"_ _0\"></span>ries Globa<span class=\"_ _0\"></span>l Infrastr<span class=\"_ _0\"></span>ucture S<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>chroder G<span class=\"_ _0\"></span>lobal Emerg<span class=\"_ _0\"></span>ing Markets Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Inves<span class=\"_ _0\"></span>co Globa<span class=\"_ _0\"></span>l T<span class=\"_ _4\"></span>argete<span class=\"_ _0\"></span>d Returns Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Marks and S<span class=\"_ _0\"></span>pence<span class=\"_ _0\"></span>r W<span class=\"_ _2\"></span>orl<span class=\"_ _0\"></span>dwide Man<span class=\"_ _0\"></span>aged Fund<span class=\"_ _0\"></span>L<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gal &amp; Ge<span class=\"_ _0\"></span>neral Europ<span class=\"_ _0\"></span>ean Index L ACC<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al &amp; Gene<span class=\"_ _0\"></span>ral Future World Sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le UK Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al &amp; Gene<span class=\"_ _0\"></span>ral Europea<span class=\"_ _0\"></span>n Index L ACC<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>No<span class=\"_ _0\"></span>mura Ameri<span class=\"_ _0\"></span>can Cent<span class=\"_ _0\"></span>ury C<span class=\"_ _0\"></span>oncentr<span class=\"_ _0\"></span>ated Globa<span class=\"_ _0\"></span>l Growth Equi<span class=\"_ _0\"></span>ty Fund",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-608": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls6b ws169 gsa9e\">H5<span class=\"_ _0\"></span>. Structure<span class=\"_ _0\"></span>d entities<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsa9f\">A str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entity i<span class=\"_ _0\"></span>s an entit<span class=\"_ _0\"></span>y that has be<span class=\"_ _0\"></span>en desig<span class=\"_ _0\"></span>ned so th<span class=\"_ _0\"></span>at voting or similar rig<span class=\"_ _0\"></span>hts are not the d<span class=\"_ _0\"></span>ominant fac<span class=\"_ _0\"></span>tor in decidin<span class=\"_ _0\"></span>g who control<span class=\"_ _0\"></span>s the entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa0\">such a<span class=\"_ _0\"></span>s when any voting rig<span class=\"_ _0\"></span>hts relate to admini<span class=\"_ _0\"></span>strative ta<span class=\"_ _0\"></span>sks only, and the rele<span class=\"_ _0\"></span>vant activit<span class=\"_ _0\"></span>ies are direc<span class=\"_ _0\"></span>ted by mean<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s. A </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa1\">str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entity of<span class=\"_ _0\"></span>ten has s<span class=\"_ _0\"></span>ome or all of the follow<span class=\"_ _0\"></span>ing features or a<span class=\"_ _0\"></span>ttribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s: (a) restric<span class=\"_ _0\"></span>ted activ<span class=\"_ _0\"></span>ities; (b) a narrow a<span class=\"_ _0\"></span>nd well-defin<span class=\"_ _0\"></span>ed obje<span class=\"_ _0\"></span>ctive, s<span class=\"_ _0\"></span>uch as </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa2\">to provide inves<span class=\"_ _0\"></span>tment opp<span class=\"_ _0\"></span>ortun<span class=\"_ _0\"></span>ities for investor<span class=\"_ _0\"></span>s by passin<span class=\"_ _0\"></span>g on risks and rew<span class=\"_ _0\"></span>ards ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th the ass<span class=\"_ _0\"></span>ets of the str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entit<span class=\"_ _0\"></span>y to in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stors; (c) </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa3\">insuf<span class=\"_ _0\"></span>ficient e<span class=\"_ _0\"></span>quity to p<span class=\"_ _0\"></span>ermit the s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entit<span class=\"_ _0\"></span>y to financ<span class=\"_ _0\"></span>e its acti<span class=\"_ _0\"></span>vities witho<span class=\"_ _0\"></span>ut subordin<span class=\"_ _0\"></span>ated financ<span class=\"_ _0\"></span>ial suppor<span class=\"_ _0\"></span>t; an<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span>) financing in th<span class=\"_ _0\"></span>e form of </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa4\">multipl<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>tually linked ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s to investors th<span class=\"_ _0\"></span>at create con<span class=\"_ _0\"></span>centratio<span class=\"_ _0\"></span>ns of credit or oth<span class=\"_ _0\"></span>er risks (tranch<span class=\"_ _0\"></span>es).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa5\">The Gro<span class=\"_ _0\"></span>up has determ<span class=\"_ _0\"></span>ined that a<span class=\"_ _0\"></span>ll o<span class=\"_ _2\"></span>f it<span class=\"_ _0\"></span>s investme<span class=\"_ _0\"></span>nts in colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes are str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entities<span class=\"_ _0\"></span>. In addition<span class=\"_ _0\"></span>, a numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f d<span class=\"_ _0\"></span>ebt secur<span class=\"_ _0\"></span>ity </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa6\">str<span class=\"_ _0\"></span>uctures a<span class=\"_ _0\"></span>nd private equ<span class=\"_ _0\"></span>ity fun<span class=\"_ _0\"></span>ds have bee<span class=\"_ _0\"></span>n identified a<span class=\"_ _0\"></span>s struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es. The G<span class=\"_ _0\"></span>roup has as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed that it h<span class=\"_ _0\"></span>as interes<span class=\"_ _0\"></span>ts in both con<span class=\"_ _0\"></span>solidated a<span class=\"_ _0\"></span>nd </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa7\">unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es as shown b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa8\">\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">unit trust<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaa9\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls55 ws144\">OEICs;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaaa\">\u2022 <span class=\"_ _19\"> </span><span class=\"ls1d1 ws1ea\">S<span class=\"_ _1\"></span>I<span class=\"_ _0\"></span>C<span class=\"_ _0\"></span>AVs<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaab\">\u2022 <span class=\"_ _19\"> </span>priva<span class=\"_ _0\"></span>te equit<span class=\"_ _0\"></span>y funds;<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaac\">\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">as<span class=\"_ _0\"></span>set<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ack<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ecurities;<span class=\"_ _3bd\"> </span></span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaad\">\u2022 <span class=\"_ _19\"> </span>C<span class=\"_ _0\"></span>ollateralise<span class=\"_ _0\"></span>d Debt Ob<span class=\"_ _0\"></span>ligations (<span class=\"_ _0\"></span>\u2018CDO<span class=\"_ _0\"></span>s\u2019);<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaae\">\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r debt stru<span class=\"_ _0\"></span>ctures; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsaaf\">\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Group Em<span class=\"_ _0\"></span>ployee Ben<span class=\"_ _0\"></span>efit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t (\u2018<span class=\"_ _0\"></span>EBT\u2019). </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab0\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s hol<span class=\"_ _0\"></span>dings in the inves<span class=\"_ _0\"></span>tments li<span class=\"_ _0\"></span>sted above are s<span class=\"_ _0\"></span>usceptib<span class=\"_ _0\"></span>le to market price ris<span class=\"_ _0\"></span>k arising from unc<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ainties abo<span class=\"_ _0\"></span>ut future valu<span class=\"_ _0\"></span>es. Ho<span class=\"_ _0\"></span>ldings in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab1\">investm<span class=\"_ _0\"></span>ent funds are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the terms an<span class=\"_ _0\"></span>d condition<span class=\"_ _0\"></span>s of the respe<span class=\"_ _0\"></span>ctive fun<span class=\"_ _0\"></span>d\u2019<span class=\"_ _2\"></span>s pro<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tus and th<span class=\"_ _0\"></span>e Group holds re<span class=\"_ _0\"></span>deem<span class=\"_ _0\"></span>able share<span class=\"_ _0\"></span>s or units in </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab2\">eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e funds<span class=\"_ _0\"></span>. The funds a<span class=\"_ _0\"></span>re manag<span class=\"_ _0\"></span>ed by internal an<span class=\"_ _0\"></span>d extern<span class=\"_ _0\"></span>al fund ma<span class=\"_ _0\"></span>nager<span class=\"_ _0\"></span>s who apply v<span class=\"_ _0\"></span>arious invest<span class=\"_ _0\"></span>ment stra<span class=\"_ _0\"></span>tegies to ac<span class=\"_ _0\"></span>complish t<span class=\"_ _0\"></span>heir </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab3\">resp<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment obj<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>s. All of the fun<span class=\"_ _0\"></span>ds are mana<span class=\"_ _0\"></span>ged by fund m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>rs who are c<span class=\"_ _0\"></span>ompens<span class=\"_ _0\"></span>ated by the res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e f<span class=\"_ _0\"></span>unds for their s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es. </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab4\">Suc<span class=\"_ _0\"></span>h compen<span class=\"_ _0\"></span>sation ge<span class=\"_ _0\"></span>nerally c<span class=\"_ _0\"></span>onsist<span class=\"_ _0\"></span>s of an ass<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ased fe<span class=\"_ _0\"></span>e and a per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e-bas<span class=\"_ _0\"></span>ed ince<span class=\"_ _0\"></span>ntive fee and is refl<span class=\"_ _0\"></span>ected in th<span class=\"_ _0\"></span>e valuation of ea<span class=\"_ _0\"></span>ch fund.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gsab5\">H5.1 Interests in<span class=\"_ _2\"></span> consolidated structured entities<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab6\">The Gro<span class=\"_ _0\"></span>up has determ<span class=\"_ _0\"></span>ined that wh<span class=\"_ _0\"></span>ere it has c<span class=\"_ _0\"></span>ontrol over funds<span class=\"_ _0\"></span>, thes<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s are cons<span class=\"_ _0\"></span>olidated st<span class=\"_ _0\"></span>ructure<span class=\"_ _0\"></span>d entities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab7\">The EBT is a c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured ent<span class=\"_ _0\"></span>ity tha<span class=\"_ _0\"></span>t holds sha<span class=\"_ _0\"></span>res to satisf<span class=\"_ _0\"></span>y awards g<span class=\"_ _0\"></span>ranted to emp<span class=\"_ _0\"></span>loy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es under t<span class=\"_ _0\"></span>he Group\u2019s share-b<span class=\"_ _0\"></span>ased p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>ment </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab8\">sch<span class=\"_ _0\"></span>emes<span class=\"_ _0\"></span>. During the ye<span class=\"_ _0\"></span>ar<span class=\"_ _2\"></span>, the Gro<span class=\"_ _0\"></span>up granted f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r loans to the EBT of \u00a3<span class=\"_ _0\"></span>16 million (2023<span class=\"_ _0\"></span>: \u00a312 million).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsab9\">As at th<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ting date, the G<span class=\"_ _0\"></span>roup has no inte<span class=\"_ _0\"></span>ntion to provide finan<span class=\"_ _0\"></span>cial or other s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t to any other con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls11 ws11 gsabb\">H5.<span class=\"_ _0\"></span>2 In<span class=\"_ _2\"></span>terest<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> in unconsolidated structured entities<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsabc\">The Gro<span class=\"_ _0\"></span>up has interes<span class=\"_ _0\"></span>ts in unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured enti<span class=\"_ _0\"></span>ties. Th<span class=\"_ _0\"></span>ese investm<span class=\"_ _0\"></span>ents are he<span class=\"_ _0\"></span>ld as financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsabd\">of financ<span class=\"_ _0\"></span>ial positio<span class=\"_ _0\"></span>n held at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>. Any chang<span class=\"_ _0\"></span>e in fair value is inc<span class=\"_ _0\"></span>luded in th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent in \u2018<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>et </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsabe\">investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e\u2019<span class=\"_ _4\"></span>. Di<span class=\"_ _0\"></span>vidend an<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome is rec<span class=\"_ _0\"></span>eived from the<span class=\"_ _0\"></span>se investm<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsabf\">A summ<span class=\"_ _0\"></span>ary of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s intere<span class=\"_ _0\"></span>st in uncon<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entitie<span class=\"_ _0\"></span>s is include<span class=\"_ _0\"></span>d below. The<span class=\"_ _0\"></span>se are shown a<span class=\"_ _0\"></span>ccording to th<span class=\"_ _0\"></span>e financial a<span class=\"_ _0\"></span>sset </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac0\">cate<span class=\"_ _0\"></span>gorisat<span class=\"_ _0\"></span>ion in the cons<span class=\"_ _0\"></span>olidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f fin<span class=\"_ _0\"></span>ancial po<span class=\"_ _0\"></span>sition.<span class=\"_ _3bd\"> </span></div><div class=\"gsac1\"><table class=\"s wa7f h2bb\" id=\"_8da10c18-bbf6-44f0-87bc-f8523e982e7f\"><tr><td></td><td class=\"t m0 x15d6 h29 y6220 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6220 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1e2b h29 y6221 ff3 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>rryi<span class=\"_ _0\"></span>ng val<span class=\"_ _0\"></span>ue of </td><td class=\"t m0 xb62 ha y6221 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value of </td></tr><tr><td></td><td class=\"t m0 x1b80 h29 y6222 ff3 fs5 fc3 sc0 lsbe wsbe\">financial assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x245 ha y6222 ff2 fs5 fc3 sc0 ls65 wsc0\">financial assets<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y6223 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67e ha y6223 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a45 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1856 y5a45 w436 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2c y5a45 w96c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2d y5b24 wef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">8<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2e y5b24 wf0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>09<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2f y5b25 w1f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e30 y5b25 w2c8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">8,<span class=\"_ _0\"></span>264<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1e31 y5a16 w655 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e32 y5a16 wa80 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">8<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac2\">The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ma<span class=\"_ _0\"></span>ximum expo<span class=\"_ _0\"></span>sure to loss with re<span class=\"_ _0\"></span>gard to the inte<span class=\"_ _0\"></span>rests p<span class=\"_ _0\"></span>resented a<span class=\"_ _0\"></span>bove is the carr<span class=\"_ _0\"></span>ying am<span class=\"_ _0\"></span>ount of the Group\u2019s investm<span class=\"_ _0\"></span>ents. O<span class=\"_ _0\"></span>nce the </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac3\">Group h<span class=\"_ _0\"></span>as dispos<span class=\"_ _0\"></span>ed of its sh<span class=\"_ _0\"></span>ares or units in a f<span class=\"_ _0\"></span>und, it ce<span class=\"_ _0\"></span>ases to be ex<span class=\"_ _0\"></span>pose<span class=\"_ _0\"></span>d to any risk from that fun<span class=\"_ _0\"></span>d. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s holdin<span class=\"_ _0\"></span>gs in the ab<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac4\">unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es are large<span class=\"_ _0\"></span>ly less th<span class=\"_ _0\"></span>an 50% and a<span class=\"_ _0\"></span>s such the size of thes<span class=\"_ _0\"></span>e struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es are lik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly to be signific<span class=\"_ _0\"></span>antly high<span class=\"_ _0\"></span>er than </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac5\">their c<span class=\"_ _0\"></span>arr<span class=\"_ _0\"></span>ying value.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsac6\">Det<span class=\"_ _0\"></span>ails of commitm<span class=\"_ _0\"></span>ents to subs<span class=\"_ _0\"></span>cribe to private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds and oth<span class=\"_ _0\"></span>er unlisted a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are include<span class=\"_ _0\"></span>d in note I5<span class=\"_ _0\"></span>.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInUnconsolidatedStructuredEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-652": {
   "value": "H5<span class=\"_ _0\"></span>. Structure<span class=\"_ _0\"></span>d entities<span class=\"_ _3bd\"> </span>A str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entity i<span class=\"_ _0\"></span>s an entit<span class=\"_ _0\"></span>y that has be<span class=\"_ _0\"></span>en desig<span class=\"_ _0\"></span>ned so th<span class=\"_ _0\"></span>at voting or similar rig<span class=\"_ _0\"></span>hts are not the d<span class=\"_ _0\"></span>ominant fac<span class=\"_ _0\"></span>tor in decidin<span class=\"_ _0\"></span>g who control<span class=\"_ _0\"></span>s the entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, such a<span class=\"_ _0\"></span>s when any voting rig<span class=\"_ _0\"></span>hts relate to admini<span class=\"_ _0\"></span>strative ta<span class=\"_ _0\"></span>sks only, and the rele<span class=\"_ _0\"></span>vant activit<span class=\"_ _0\"></span>ies are direc<span class=\"_ _0\"></span>ted by mean<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s. A str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entity of<span class=\"_ _0\"></span>ten has s<span class=\"_ _0\"></span>ome or all of the follow<span class=\"_ _0\"></span>ing features or a<span class=\"_ _0\"></span>ttribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s: (a) restric<span class=\"_ _0\"></span>ted activ<span class=\"_ _0\"></span>ities; (b) a narrow a<span class=\"_ _0\"></span>nd well-defin<span class=\"_ _0\"></span>ed obje<span class=\"_ _0\"></span>ctive, s<span class=\"_ _0\"></span>uch as to provide inves<span class=\"_ _0\"></span>tment opp<span class=\"_ _0\"></span>ortun<span class=\"_ _0\"></span>ities for investor<span class=\"_ _0\"></span>s by passin<span class=\"_ _0\"></span>g on risks and rew<span class=\"_ _0\"></span>ards ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th the ass<span class=\"_ _0\"></span>ets of the str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entit<span class=\"_ _0\"></span>y to in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stors; (c) insuf<span class=\"_ _0\"></span>ficient e<span class=\"_ _0\"></span>quity to p<span class=\"_ _0\"></span>ermit the s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entit<span class=\"_ _0\"></span>y to financ<span class=\"_ _0\"></span>e its acti<span class=\"_ _0\"></span>vities witho<span class=\"_ _0\"></span>ut subordin<span class=\"_ _0\"></span>ated financ<span class=\"_ _0\"></span>ial suppor<span class=\"_ _0\"></span>t; an<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span>) financing in th<span class=\"_ _0\"></span>e form of multipl<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>tually linked ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s to investors th<span class=\"_ _0\"></span>at create con<span class=\"_ _0\"></span>centratio<span class=\"_ _0\"></span>ns of credit or oth<span class=\"_ _0\"></span>er risks (tranch<span class=\"_ _0\"></span>es).<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has determ<span class=\"_ _0\"></span>ined that a<span class=\"_ _0\"></span>ll o<span class=\"_ _2\"></span>f it<span class=\"_ _0\"></span>s investme<span class=\"_ _0\"></span>nts in colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes are str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entities<span class=\"_ _0\"></span>. In addition<span class=\"_ _0\"></span>, a numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f d<span class=\"_ _0\"></span>ebt secur<span class=\"_ _0\"></span>ity str<span class=\"_ _0\"></span>uctures a<span class=\"_ _0\"></span>nd private equ<span class=\"_ _0\"></span>ity fun<span class=\"_ _0\"></span>ds have bee<span class=\"_ _0\"></span>n identified a<span class=\"_ _0\"></span>s struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es. The G<span class=\"_ _0\"></span>roup has as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed that it h<span class=\"_ _0\"></span>as interes<span class=\"_ _0\"></span>ts in both con<span class=\"_ _0\"></span>solidated a<span class=\"_ _0\"></span>nd unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es as shown b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">unit trust<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls55 ws144\">OEICs;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls1d1 ws1ea\">S<span class=\"_ _1\"></span>I<span class=\"_ _0\"></span>C<span class=\"_ _0\"></span>AVs<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>priva<span class=\"_ _0\"></span>te equit<span class=\"_ _0\"></span>y funds;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">as<span class=\"_ _0\"></span>set<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ack<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ecurities;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>C<span class=\"_ _0\"></span>ollateralise<span class=\"_ _0\"></span>d Debt Ob<span class=\"_ _0\"></span>ligations (<span class=\"_ _0\"></span>\u2018CDO<span class=\"_ _0\"></span>s\u2019);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r debt stru<span class=\"_ _0\"></span>ctures; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Group Em<span class=\"_ _0\"></span>ployee Ben<span class=\"_ _0\"></span>efit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t (\u2018<span class=\"_ _0\"></span>EBT\u2019). The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s hol<span class=\"_ _0\"></span>dings in the inves<span class=\"_ _0\"></span>tments li<span class=\"_ _0\"></span>sted above are s<span class=\"_ _0\"></span>usceptib<span class=\"_ _0\"></span>le to market price ris<span class=\"_ _0\"></span>k arising from unc<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ainties abo<span class=\"_ _0\"></span>ut future valu<span class=\"_ _0\"></span>es. Ho<span class=\"_ _0\"></span>ldings in investm<span class=\"_ _0\"></span>ent funds are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the terms an<span class=\"_ _0\"></span>d condition<span class=\"_ _0\"></span>s of the respe<span class=\"_ _0\"></span>ctive fun<span class=\"_ _0\"></span>d\u2019<span class=\"_ _2\"></span>s pro<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tus and th<span class=\"_ _0\"></span>e Group holds re<span class=\"_ _0\"></span>deem<span class=\"_ _0\"></span>able share<span class=\"_ _0\"></span>s or units in eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e funds<span class=\"_ _0\"></span>. The funds a<span class=\"_ _0\"></span>re manag<span class=\"_ _0\"></span>ed by internal an<span class=\"_ _0\"></span>d extern<span class=\"_ _0\"></span>al fund ma<span class=\"_ _0\"></span>nager<span class=\"_ _0\"></span>s who apply v<span class=\"_ _0\"></span>arious invest<span class=\"_ _0\"></span>ment stra<span class=\"_ _0\"></span>tegies to ac<span class=\"_ _0\"></span>complish t<span class=\"_ _0\"></span>heir resp<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment obj<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>s. All of the fun<span class=\"_ _0\"></span>ds are mana<span class=\"_ _0\"></span>ged by fund m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>rs who are c<span class=\"_ _0\"></span>ompens<span class=\"_ _0\"></span>ated by the res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e f<span class=\"_ _0\"></span>unds for their s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es. Suc<span class=\"_ _0\"></span>h compen<span class=\"_ _0\"></span>sation ge<span class=\"_ _0\"></span>nerally c<span class=\"_ _0\"></span>onsist<span class=\"_ _0\"></span>s of an ass<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ased fe<span class=\"_ _0\"></span>e and a per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e-bas<span class=\"_ _0\"></span>ed ince<span class=\"_ _0\"></span>ntive fee and is refl<span class=\"_ _0\"></span>ected in th<span class=\"_ _0\"></span>e valuation of ea<span class=\"_ _0\"></span>ch fund.<span class=\"_ _3bd\"> </span>H5.1 Interests in<span class=\"_ _2\"></span> consolidated structured entities<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has determ<span class=\"_ _0\"></span>ined that wh<span class=\"_ _0\"></span>ere it has c<span class=\"_ _0\"></span>ontrol over funds<span class=\"_ _0\"></span>, thes<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s are cons<span class=\"_ _0\"></span>olidated st<span class=\"_ _0\"></span>ructure<span class=\"_ _0\"></span>d entities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The EBT is a c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured ent<span class=\"_ _0\"></span>ity tha<span class=\"_ _0\"></span>t holds sha<span class=\"_ _0\"></span>res to satisf<span class=\"_ _0\"></span>y awards g<span class=\"_ _0\"></span>ranted to emp<span class=\"_ _0\"></span>loy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es under t<span class=\"_ _0\"></span>he Group\u2019s share-b<span class=\"_ _0\"></span>ased p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes<span class=\"_ _0\"></span>. During the ye<span class=\"_ _0\"></span>ar<span class=\"_ _2\"></span>, the Gro<span class=\"_ _0\"></span>up granted f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r loans to the EBT of \u00a3<span class=\"_ _0\"></span>16 million (2023<span class=\"_ _0\"></span>: \u00a312 million).<span class=\"_ _3bd\"> </span>As at th<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ting date, the G<span class=\"_ _0\"></span>roup has no inte<span class=\"_ _0\"></span>ntion to provide finan<span class=\"_ _0\"></span>cial or other s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t to any other con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>H5.<span class=\"_ _0\"></span>2 In<span class=\"_ _2\"></span>terest<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> in unconsolidated structured entities<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has interes<span class=\"_ _0\"></span>ts in unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured enti<span class=\"_ _0\"></span>ties. Th<span class=\"_ _0\"></span>ese investm<span class=\"_ _0\"></span>ents are he<span class=\"_ _0\"></span>ld as financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt of financ<span class=\"_ _0\"></span>ial positio<span class=\"_ _0\"></span>n held at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>. Any chang<span class=\"_ _0\"></span>e in fair value is inc<span class=\"_ _0\"></span>luded in th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent in \u2018<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>et investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e\u2019<span class=\"_ _4\"></span>. Di<span class=\"_ _0\"></span>vidend an<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome is rec<span class=\"_ _0\"></span>eived from the<span class=\"_ _0\"></span>se investm<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>A summ<span class=\"_ _0\"></span>ary of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s intere<span class=\"_ _0\"></span>st in uncon<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entitie<span class=\"_ _0\"></span>s is include<span class=\"_ _0\"></span>d below. The<span class=\"_ _0\"></span>se are shown a<span class=\"_ _0\"></span>ccording to th<span class=\"_ _0\"></span>e financial a<span class=\"_ _0\"></span>sset cate<span class=\"_ _0\"></span>gorisat<span class=\"_ _0\"></span>ion in the cons<span class=\"_ _0\"></span>olidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f fin<span class=\"_ _0\"></span>ancial po<span class=\"_ _0\"></span>sition.<span class=\"_ _3bd\"> </span><table class=\"s wa7f h2bb\" id=\"_8da10c18-bbf6-44f0-87bc-f8523e982e7f\"><tr><td></td><td class=\"t m0 x15d6 h29 y6220 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6220 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1e2b h29 y6221 ff3 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>rryi<span class=\"_ _0\"></span>ng val<span class=\"_ _0\"></span>ue of </td><td class=\"t m0 xb62 ha y6221 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value of </td></tr><tr><td></td><td class=\"t m0 x1b80 h29 y6222 ff3 fs5 fc3 sc0 lsbe wsbe\">financial assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x245 ha y6222 ff2 fs5 fc3 sc0 ls65 wsc0\">financial assets<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y6223 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67e ha y6223 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a45 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1856 y5a45 w436 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2c y5a45 w96c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2d y5b24 wef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">8<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2e y5b24 wf0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>09<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2f y5b25 w1f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e30 y5b25 w2c8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">8,<span class=\"_ _0\"></span>264<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1e31 y5a16 w655 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e32 y5a16 wa80 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">8<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr></table>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ma<span class=\"_ _0\"></span>ximum expo<span class=\"_ _0\"></span>sure to loss with re<span class=\"_ _0\"></span>gard to the inte<span class=\"_ _0\"></span>rests p<span class=\"_ _0\"></span>resented a<span class=\"_ _0\"></span>bove is the carr<span class=\"_ _0\"></span>ying am<span class=\"_ _0\"></span>ount of the Group\u2019s investm<span class=\"_ _0\"></span>ents. O<span class=\"_ _0\"></span>nce the Group h<span class=\"_ _0\"></span>as dispos<span class=\"_ _0\"></span>ed of its sh<span class=\"_ _0\"></span>ares or units in a f<span class=\"_ _0\"></span>und, it ce<span class=\"_ _0\"></span>ases to be ex<span class=\"_ _0\"></span>pose<span class=\"_ _0\"></span>d to any risk from that fun<span class=\"_ _0\"></span>d. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s holdin<span class=\"_ _0\"></span>gs in the ab<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es are large<span class=\"_ _0\"></span>ly less th<span class=\"_ _0\"></span>an 50% and a<span class=\"_ _0\"></span>s such the size of thes<span class=\"_ _0\"></span>e struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es are lik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly to be signific<span class=\"_ _0\"></span>antly high<span class=\"_ _0\"></span>er than their c<span class=\"_ _0\"></span>arr<span class=\"_ _0\"></span>ying value.<span class=\"_ _3bd\"> </span>Det<span class=\"_ _0\"></span>ails of commitm<span class=\"_ _0\"></span>ents to subs<span class=\"_ _0\"></span>cribe to private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds and oth<span class=\"_ _0\"></span>er unlisted a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are include<span class=\"_ _0\"></span>d in note I5<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutConsolidatedStructuredEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-640": {
   "value": "H5<span class=\"_ _0\"></span>. Structure<span class=\"_ _0\"></span>d entities<span class=\"_ _3bd\"> </span>A str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entity i<span class=\"_ _0\"></span>s an entit<span class=\"_ _0\"></span>y that has be<span class=\"_ _0\"></span>en desig<span class=\"_ _0\"></span>ned so th<span class=\"_ _0\"></span>at voting or similar rig<span class=\"_ _0\"></span>hts are not the d<span class=\"_ _0\"></span>ominant fac<span class=\"_ _0\"></span>tor in decidin<span class=\"_ _0\"></span>g who control<span class=\"_ _0\"></span>s the entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, such a<span class=\"_ _0\"></span>s when any voting rig<span class=\"_ _0\"></span>hts relate to admini<span class=\"_ _0\"></span>strative ta<span class=\"_ _0\"></span>sks only, and the rele<span class=\"_ _0\"></span>vant activit<span class=\"_ _0\"></span>ies are direc<span class=\"_ _0\"></span>ted by mean<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual arran<span class=\"_ _0\"></span>gement<span class=\"_ _0\"></span>s. A str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entity of<span class=\"_ _0\"></span>ten has s<span class=\"_ _0\"></span>ome or all of the follow<span class=\"_ _0\"></span>ing features or a<span class=\"_ _0\"></span>ttribu<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s: (a) restric<span class=\"_ _0\"></span>ted activ<span class=\"_ _0\"></span>ities; (b) a narrow a<span class=\"_ _0\"></span>nd well-defin<span class=\"_ _0\"></span>ed obje<span class=\"_ _0\"></span>ctive, s<span class=\"_ _0\"></span>uch as to provide inves<span class=\"_ _0\"></span>tment opp<span class=\"_ _0\"></span>ortun<span class=\"_ _0\"></span>ities for investor<span class=\"_ _0\"></span>s by passin<span class=\"_ _0\"></span>g on risks and rew<span class=\"_ _0\"></span>ards ass<span class=\"_ _0\"></span>ociated wi<span class=\"_ _0\"></span>th the ass<span class=\"_ _0\"></span>ets of the str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entit<span class=\"_ _0\"></span>y to in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stors; (c) insuf<span class=\"_ _0\"></span>ficient e<span class=\"_ _0\"></span>quity to p<span class=\"_ _0\"></span>ermit the s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entit<span class=\"_ _0\"></span>y to financ<span class=\"_ _0\"></span>e its acti<span class=\"_ _0\"></span>vities witho<span class=\"_ _0\"></span>ut subordin<span class=\"_ _0\"></span>ated financ<span class=\"_ _0\"></span>ial suppor<span class=\"_ _0\"></span>t; an<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span>) financing in th<span class=\"_ _0\"></span>e form of multipl<span class=\"_ _0\"></span>e contrac<span class=\"_ _0\"></span>tually linked ins<span class=\"_ _0\"></span>trument<span class=\"_ _0\"></span>s to investors th<span class=\"_ _0\"></span>at create con<span class=\"_ _0\"></span>centratio<span class=\"_ _0\"></span>ns of credit or oth<span class=\"_ _0\"></span>er risks (tranch<span class=\"_ _0\"></span>es).<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has determ<span class=\"_ _0\"></span>ined that a<span class=\"_ _0\"></span>ll o<span class=\"_ _2\"></span>f it<span class=\"_ _0\"></span>s investme<span class=\"_ _0\"></span>nts in colle<span class=\"_ _0\"></span>ctive investm<span class=\"_ _0\"></span>ent sche<span class=\"_ _0\"></span>mes are str<span class=\"_ _0\"></span>ucture<span class=\"_ _0\"></span>d entities<span class=\"_ _0\"></span>. In addition<span class=\"_ _0\"></span>, a numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f d<span class=\"_ _0\"></span>ebt secur<span class=\"_ _0\"></span>ity str<span class=\"_ _0\"></span>uctures a<span class=\"_ _0\"></span>nd private equ<span class=\"_ _0\"></span>ity fun<span class=\"_ _0\"></span>ds have bee<span class=\"_ _0\"></span>n identified a<span class=\"_ _0\"></span>s struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es. The G<span class=\"_ _0\"></span>roup has as<span class=\"_ _0\"></span>ses<span class=\"_ _0\"></span>sed that it h<span class=\"_ _0\"></span>as interes<span class=\"_ _0\"></span>ts in both con<span class=\"_ _0\"></span>solidated a<span class=\"_ _0\"></span>nd unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es as shown b<span class=\"_ _0\"></span>elow:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">unit trust<span class=\"_ _0\"></span>s;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls55 ws144\">OEICs;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span><span class=\"ls1d1 ws1ea\">S<span class=\"_ _1\"></span>I<span class=\"_ _0\"></span>C<span class=\"_ _0\"></span>AVs<span class=\"_ _0\"></span>;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>priva<span class=\"_ _0\"></span>te equit<span class=\"_ _0\"></span>y funds;<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">as<span class=\"_ _0\"></span>set<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ack<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> s<span class=\"_ _0\"></span>ecurities;<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>C<span class=\"_ _0\"></span>ollateralise<span class=\"_ _0\"></span>d Debt Ob<span class=\"_ _0\"></span>ligations (<span class=\"_ _0\"></span>\u2018CDO<span class=\"_ _0\"></span>s\u2019);<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>othe<span class=\"_ _0\"></span>r debt stru<span class=\"_ _0\"></span>ctures; a<span class=\"_ _0\"></span>nd<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Group Em<span class=\"_ _0\"></span>ployee Ben<span class=\"_ _0\"></span>efit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t (\u2018<span class=\"_ _0\"></span>EBT\u2019). The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s hol<span class=\"_ _0\"></span>dings in the inves<span class=\"_ _0\"></span>tments li<span class=\"_ _0\"></span>sted above are s<span class=\"_ _0\"></span>usceptib<span class=\"_ _0\"></span>le to market price ris<span class=\"_ _0\"></span>k arising from unc<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>ainties abo<span class=\"_ _0\"></span>ut future valu<span class=\"_ _0\"></span>es. Ho<span class=\"_ _0\"></span>ldings in investm<span class=\"_ _0\"></span>ent funds are s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to the terms an<span class=\"_ _0\"></span>d condition<span class=\"_ _0\"></span>s of the respe<span class=\"_ _0\"></span>ctive fun<span class=\"_ _0\"></span>d\u2019<span class=\"_ _2\"></span>s pro<span class=\"_ _0\"></span>spec<span class=\"_ _0\"></span>tus and th<span class=\"_ _0\"></span>e Group holds re<span class=\"_ _0\"></span>deem<span class=\"_ _0\"></span>able share<span class=\"_ _0\"></span>s or units in eac<span class=\"_ _0\"></span>h o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e funds<span class=\"_ _0\"></span>. The funds a<span class=\"_ _0\"></span>re manag<span class=\"_ _0\"></span>ed by internal an<span class=\"_ _0\"></span>d extern<span class=\"_ _0\"></span>al fund ma<span class=\"_ _0\"></span>nager<span class=\"_ _0\"></span>s who apply v<span class=\"_ _0\"></span>arious invest<span class=\"_ _0\"></span>ment stra<span class=\"_ _0\"></span>tegies to ac<span class=\"_ _0\"></span>complish t<span class=\"_ _0\"></span>heir resp<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment obj<span class=\"_ _0\"></span>ective<span class=\"_ _0\"></span>s. All of the fun<span class=\"_ _0\"></span>ds are mana<span class=\"_ _0\"></span>ged by fund m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>rs who are c<span class=\"_ _0\"></span>ompens<span class=\"_ _0\"></span>ated by the res<span class=\"_ _0\"></span>pecti<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e f<span class=\"_ _0\"></span>unds for their s<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es. Suc<span class=\"_ _0\"></span>h compen<span class=\"_ _0\"></span>sation ge<span class=\"_ _0\"></span>nerally c<span class=\"_ _0\"></span>onsist<span class=\"_ _0\"></span>s of an ass<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>-b<span class=\"_ _0\"></span>ased fe<span class=\"_ _0\"></span>e and a per<span class=\"_ _0\"></span>formanc<span class=\"_ _0\"></span>e-bas<span class=\"_ _0\"></span>ed ince<span class=\"_ _0\"></span>ntive fee and is refl<span class=\"_ _0\"></span>ected in th<span class=\"_ _0\"></span>e valuation of ea<span class=\"_ _0\"></span>ch fund.<span class=\"_ _3bd\"> </span>H5.1 Interests in<span class=\"_ _2\"></span> consolidated structured entities<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has determ<span class=\"_ _0\"></span>ined that wh<span class=\"_ _0\"></span>ere it has c<span class=\"_ _0\"></span>ontrol over funds<span class=\"_ _0\"></span>, thes<span class=\"_ _0\"></span>e in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s are cons<span class=\"_ _0\"></span>olidated st<span class=\"_ _0\"></span>ructure<span class=\"_ _0\"></span>d entities<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The EBT is a c<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured ent<span class=\"_ _0\"></span>ity tha<span class=\"_ _0\"></span>t holds sha<span class=\"_ _0\"></span>res to satisf<span class=\"_ _0\"></span>y awards g<span class=\"_ _0\"></span>ranted to emp<span class=\"_ _0\"></span>loy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es under t<span class=\"_ _0\"></span>he Group\u2019s share-b<span class=\"_ _0\"></span>ased p<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>ment sch<span class=\"_ _0\"></span>emes<span class=\"_ _0\"></span>. During the ye<span class=\"_ _0\"></span>ar<span class=\"_ _2\"></span>, the Gro<span class=\"_ _0\"></span>up granted f<span class=\"_ _0\"></span>urthe<span class=\"_ _0\"></span>r loans to the EBT of \u00a3<span class=\"_ _0\"></span>16 million (2023<span class=\"_ _0\"></span>: \u00a312 million).<span class=\"_ _3bd\"> </span>As at th<span class=\"_ _0\"></span>e repor<span class=\"_ _0\"></span>ting date, the G<span class=\"_ _0\"></span>roup has no inte<span class=\"_ _0\"></span>ntion to provide finan<span class=\"_ _0\"></span>cial or other s<span class=\"_ _0\"></span>uppor<span class=\"_ _0\"></span>t to any other con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>H5.<span class=\"_ _0\"></span>2 In<span class=\"_ _2\"></span>terest<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> in unconsolidated structured entities<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up has interes<span class=\"_ _0\"></span>ts in unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured enti<span class=\"_ _0\"></span>ties. Th<span class=\"_ _0\"></span>ese investm<span class=\"_ _0\"></span>ents are he<span class=\"_ _0\"></span>ld as financ<span class=\"_ _0\"></span>ial ass<span class=\"_ _0\"></span>ets in the Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s con<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt of financ<span class=\"_ _0\"></span>ial positio<span class=\"_ _0\"></span>n held at fair val<span class=\"_ _0\"></span>ue through profi<span class=\"_ _0\"></span>t or loss<span class=\"_ _0\"></span>. Any chang<span class=\"_ _0\"></span>e in fair value is inc<span class=\"_ _0\"></span>luded in th<span class=\"_ _0\"></span>e consolid<span class=\"_ _0\"></span>ated incom<span class=\"_ _0\"></span>e statem<span class=\"_ _0\"></span>ent in \u2018<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>et investm<span class=\"_ _0\"></span>ent incom<span class=\"_ _0\"></span>e\u2019<span class=\"_ _4\"></span>. Di<span class=\"_ _0\"></span>vidend an<span class=\"_ _0\"></span>d int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rest inc<span class=\"_ _0\"></span>ome is rec<span class=\"_ _0\"></span>eived from the<span class=\"_ _0\"></span>se investm<span class=\"_ _0\"></span>ents.<span class=\"_ _3bd\"> </span>A summ<span class=\"_ _0\"></span>ary of the G<span class=\"_ _0\"></span>roup\u2019<span class=\"_ _2\"></span>s intere<span class=\"_ _0\"></span>st in uncon<span class=\"_ _0\"></span>solidated s<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ured entitie<span class=\"_ _0\"></span>s is include<span class=\"_ _0\"></span>d below. The<span class=\"_ _0\"></span>se are shown a<span class=\"_ _0\"></span>ccording to th<span class=\"_ _0\"></span>e financial a<span class=\"_ _0\"></span>sset cate<span class=\"_ _0\"></span>gorisat<span class=\"_ _0\"></span>ion in the cons<span class=\"_ _0\"></span>olidated s<span class=\"_ _0\"></span>tateme<span class=\"_ _0\"></span>nt o<span class=\"_ _2\"></span>f fin<span class=\"_ _0\"></span>ancial po<span class=\"_ _0\"></span>sition.<span class=\"_ _3bd\"> </span><table class=\"s wa7f h2bb\" id=\"_8da10c18-bbf6-44f0-87bc-f8523e982e7f\"><tr><td></td><td class=\"t m0 x15d6 h29 y6220 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x802 ha y6220 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1e2b h29 y6221 ff3 fs5 fc3 sc0 ls1 ws1\">Ca<span class=\"_ _0\"></span>rryi<span class=\"_ _0\"></span>ng val<span class=\"_ _0\"></span>ue of </td><td class=\"t m0 xb62 ha y6221 ff2 fs5 fc3 sc0 ls11 ws11\">Carrying value of </td></tr><tr><td></td><td class=\"t m0 x1b80 h29 y6222 ff3 fs5 fc3 sc0 lsbe wsbe\">financial assets<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x245 ha y6222 ff2 fs5 fc3 sc0 ls65 wsc0\">financial assets<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x5c1 h29 y6223 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x67e ha y6223 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a45 we5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Equities<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1856 y5a45 w436 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls15c ws1ee\">1<span class=\"_ _0\"></span>,398<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2c y5a45 w96c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1e9 ws207\">1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>51<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b24 wee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Coll<span class=\"_ _0\"></span>ective inves<span class=\"_ _0\"></span>tment sch<span class=\"_ _0\"></span>emes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2d y5b24 wef h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1a8 ws1bc\">8<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>,74<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2e y5b24 wf0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls74 ws1e5\">78,<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>09<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b25 web h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Debt s<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e2f y5b25 w1f1 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1df ws1fa\">7,<span class=\"_ _0\"></span>5<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e30 y5b25 w2c8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">8,<span class=\"_ _0\"></span>264<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"c n x1e31 y5a16 w655 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1c3 ws1db\">91<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>80<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e32 y5a16 wa80 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1da ws1f4\">8<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr></table>The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s ma<span class=\"_ _0\"></span>ximum expo<span class=\"_ _0\"></span>sure to loss with re<span class=\"_ _0\"></span>gard to the inte<span class=\"_ _0\"></span>rests p<span class=\"_ _0\"></span>resented a<span class=\"_ _0\"></span>bove is the carr<span class=\"_ _0\"></span>ying am<span class=\"_ _0\"></span>ount of the Group\u2019s investm<span class=\"_ _0\"></span>ents. O<span class=\"_ _0\"></span>nce the Group h<span class=\"_ _0\"></span>as dispos<span class=\"_ _0\"></span>ed of its sh<span class=\"_ _0\"></span>ares or units in a f<span class=\"_ _0\"></span>und, it ce<span class=\"_ _0\"></span>ases to be ex<span class=\"_ _0\"></span>pose<span class=\"_ _0\"></span>d to any risk from that fun<span class=\"_ _0\"></span>d. The Gro<span class=\"_ _0\"></span>up\u2019<span class=\"_ _2\"></span>s holdin<span class=\"_ _0\"></span>gs in the ab<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e unco<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es are large<span class=\"_ _0\"></span>ly less th<span class=\"_ _0\"></span>an 50% and a<span class=\"_ _0\"></span>s such the size of thes<span class=\"_ _0\"></span>e struc<span class=\"_ _0\"></span>tured entiti<span class=\"_ _0\"></span>es are lik<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>ly to be signific<span class=\"_ _0\"></span>antly high<span class=\"_ _0\"></span>er than their c<span class=\"_ _0\"></span>arr<span class=\"_ _0\"></span>ying value.<span class=\"_ _3bd\"> </span>Det<span class=\"_ _0\"></span>ails of commitm<span class=\"_ _0\"></span>ents to subs<span class=\"_ _0\"></span>cribe to private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds and oth<span class=\"_ _0\"></span>er unlisted a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s are include<span class=\"_ _0\"></span>d in note I5<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfUnconsolidatedStructuredEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-653": {
   "value": "H6<span class=\"_ _0\"></span>. Group entitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>The t<span class=\"_ _0\"></span>able below s<span class=\"_ _0\"></span>ets out th<span class=\"_ _0\"></span>e Group\u2019<span class=\"_ _2\"></span>s s<span class=\"_ _0\"></span>ubsidiaries (in<span class=\"_ _0\"></span>cluding c<span class=\"_ _0\"></span>onsolidate<span class=\"_ _0\"></span>d collec<span class=\"_ _0\"></span>tive investme<span class=\"_ _0\"></span>nt schem<span class=\"_ _0\"></span>es), asso<span class=\"_ _0\"></span>ciates and s<span class=\"_ _0\"></span>ignificant h<span class=\"_ _0\"></span>oldings in under<span class=\"_ _0\"></span>takin<span class=\"_ _0\"></span>gs (inclu<span class=\"_ _0\"></span>ding under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s in which the h<span class=\"_ _0\"></span>olding amo<span class=\"_ _0\"></span>unts to 20% or mo<span class=\"_ _0\"></span>re o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e nominal va<span class=\"_ _0\"></span>lue of the share<span class=\"_ _0\"></span>s or units and t<span class=\"_ _0\"></span>hey are not clas<span class=\"_ _0\"></span>sified as a s<span class=\"_ _0\"></span>ubsidiar<span class=\"_ _0\"></span>y or ass<span class=\"_ _0\"></span>ociate).<span class=\"_ _3bd\"> </span><table class=\"s wa81 h2bc\" id=\"_31ee472f-3ac1-4260-8d61-7b56fcfab8da\"><tr><td></td><td></td><td></td><td class=\"t m0 x1e33 h29 y6224 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y6224 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x1e34 h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y6225 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td></td><td class=\"t m0 x67b h29 y6226 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y6226 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y6226 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y6226 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y6227 ff3 fs6 fc3 sc0 ls1 ws1\">Subsi<span class=\"_ _0\"></span>diaries<span class=\"ff2\">:<span class=\"_ _3bd\"> </span></span></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6228 wa82 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Limited (life as<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e36 y6228 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y6228 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y6228 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6229 wa85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Assur<span class=\"_ _0\"></span>ance Europ<span class=\"_ _0\"></span>e D<span class=\"_ _2\"></span>AC (life ass<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e38 y6229 w7af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e39 y6229 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3a y6229 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y622a ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life CA Limited (Form<span class=\"_ _0\"></span>erly Sun Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y622b wa86 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">of Cana<span class=\"_ _0\"></span>da (U.K<span class=\"_ _0\"></span>.)<span class=\"_ gs47\"> </span>Limited) (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3b y622b wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3c y622b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3d y622b wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622c wa8a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Re Limited (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x18e9 y622c wa8b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1e3e h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622d wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622d w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622e wa8c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Life Limited (life as<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e42 y622e wa8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e41 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y622f wa8e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Limited (life a<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e44 y622f wa8f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e43 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y622f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y622f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6230 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>urance Limite<span class=\"_ _0\"></span>d (life assur<span class=\"_ _0\"></span>ance </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6231 wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">comp<span class=\"_ _0\"></span>any \u2013 directly ow<span class=\"_ _0\"></span>ned by the C<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e45 y6231 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e46 y6231 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y6231 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6232 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life In<span class=\"_ _2\"></span>ternational De<span class=\"_ _0\"></span>signat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d A<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>tivity Company (life </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6233 wa92 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as<span class=\"_ _0\"></span>surance c<span class=\"_ _0\"></span>ompany \u2013 direc<span class=\"_ _0\"></span>tly owned by t<span class=\"_ _0\"></span>he Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e48 y6233 wa93 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin<span class=\"_ _4\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e49 y6233 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4a y6233 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6234 wa94 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Ser<span class=\"_ _0\"></span>vices Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment ser<span class=\"_ _0\"></span>vices c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4b y6234 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xba4 y6234 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4c y6234 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6235 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group M<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent Ser<span class=\"_ _0\"></span>vice<span class=\"_ _0\"></span>s Limited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6236 wa95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws11\">(ma<span class=\"_ _2\"></span>nagement services compan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4d y6236 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e4e y6236 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4f y6236 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6237 wa97 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Irelan<span class=\"_ _0\"></span>d) Limited (mana<span class=\"_ _0\"></span>geme<span class=\"_ _0\"></span>nt serv<span class=\"_ _0\"></span>ices comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e51 y6237 wa98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x1e50 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6238 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6238 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6239 ff2 fs6 fc3 sc0 ls1a ws13\">Phoenix Management<span class=\"_ _2\"></span> Ser<span class=\"_ _0\"></span>vices<span class=\"_ _2\"></span> (Bermuda) L<span class=\"_ _2\"></span>imited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y623a wa95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws11\">(ma<span class=\"_ _2\"></span>nagement services compan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e53 y623a wa99 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1e52 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y623b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y623b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623c wa9a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure UK S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt ser<span class=\"_ _0\"></span>vices co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e55 y623c wa9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e54 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y623c wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y623c w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623d wa9c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">P<span class=\"_ _2\"></span>A (GI<span class=\"_ _0\"></span>) Limited (non-tra<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e56 y623d wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xdef y623d wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y623d w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623e w2b1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">103<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e58 y623e wa9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Wardo<span class=\"_ _0\"></span>ur Street Ret<span class=\"_ _0\"></span>ail Investm<span class=\"_ _0\"></span>ent Compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y<span class=\"_ _3bd\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y623f wa9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Limited (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e5a y623f waa0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e59 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6240 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6240 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6241 ff2 fs6 fc3 sc0 ls17f ws1\">3 St Andrew S<span class=\"_ _0\"></span>quare Apa<span class=\"_ _0\"></span>rtme<span class=\"_ _0\"></span>nts Limited </td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6242 waa1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">(proper<span class=\"_ _0\"></span>ty manage<span class=\"_ _0\"></span>ment company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e5c y6242 waa2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1e5b h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6242 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6242 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6243 waa3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife A<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce Comp<span class=\"_ _0\"></span>any Limited (non-tra<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5d y6243 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6243 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6243 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6244 waa4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st Se<span class=\"_ _0\"></span>curities Limite<span class=\"_ _0\"></span>d (pensio<span class=\"_ _0\"></span>n truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5d y6244 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6244 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6244 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6245 waa5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Abbe<span class=\"_ _0\"></span>y L<span class=\"_ _2\"></span>ife T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stee Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e60 y6245 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y6245 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y6245 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6246 waa6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Alba LAS Pensions Managem<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e62 y6246 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y6246 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y6246 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6247 waa7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Alba Life T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>no<span class=\"_ _0\"></span>n-trading c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xfb7 y6247 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e63 y6247 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y6247 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xb74 hc y6248 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Lia<span class=\"_ _0\"></span>bility </td><td></td></tr><tr><td class=\"c n x1d4 y5e18 waa8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">A<span class=\"_ _0\"></span>xial Fundame<span class=\"_ _0\"></span>ntal Strate<span class=\"_ _0\"></span>gies (US I<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>) LLC (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1c3b y5e18 waa9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">W<span class=\"_ _0\"></span>ilmington</div><div class=\"t m0 x1e65 h11 y5b9e ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e66 y5ae4 waaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e67 y5ae4 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 waab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">BA (FURBS) Limited (dormant<span class=\"_ _2\"></span> c<span class=\"_ _0\"></span>ompan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e68 y5ae5 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e69 y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6a y5ae5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 waac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Barnwo<span class=\"_ _0\"></span>od Proper<span class=\"_ _0\"></span>ties Limite<span class=\"_ _0\"></span>d (proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6b y5b29 waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y5b29 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y5b29 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 waae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">BL T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>l<span class=\"_ _2\"></span>ford Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1e6f y5b06 waaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e6e h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5b06 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wab0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brit<span class=\"_ _0\"></span>annic Finan<span class=\"_ _0\"></span>ce Limited (finan<span class=\"_ _0\"></span>ce and insur<span class=\"_ _0\"></span>ance se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e70 y5b2a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e71 y5b2a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e72 y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wab1 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brit<span class=\"_ _0\"></span>annic Group S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e73 y5a16 wa87 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y5a16 w687 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wab2 h2bd\" id=\"_c3ea7992-d784-4869-b8b2-22cc7940f815\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y6249 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y6249 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y624a ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y624b ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y624b ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y624b ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y624b ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a hc y624c ff2 fs6 fc3 sc0 ls56 wsd\">Britannic Mon<span class=\"_ _0\"></span>ey In<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span>tment Ser<span class=\"_ _0\"></span>vices Limited </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y624d wab3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb\">(in<span class=\"_ _2\"></span>vestment<span class=\"_ _2\"></span> advice co<span class=\"_ _2\"></span>mpany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e77 y624d wab4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall</div><div class=\"t m0 x1e76 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624d wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624d w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y624e wab5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ce<span class=\"_ _0\"></span>ntury T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee Se<span class=\"_ _0\"></span>rvice<span class=\"_ _0\"></span>s Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e79 y624e wab6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll</div><div class=\"t m0 x1e78 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y624f wab7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">CGE M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Co<span class=\"_ _0\"></span>mpany Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7b y624f wab8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1e7a h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y624f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y624f w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wab9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">CH M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Limited (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7d y6250 waba h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Wilming<span class=\"_ _0\"></span>ton</div><div class=\"t m0 x1e7c h11 y5a78 ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6251 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6251 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wabb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">City<span class=\"_ _0\"></span>fourinc (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e7f y6252 wabc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall</div><div class=\"t m0 x1e7e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e80 y6252 wabd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d with Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e81 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6253 ff2 fs6 fc3 sc0 ls1a ws13\">ERIP General P<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>ner Limit<span class=\"_ _2\"></span>ed (General Pa<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>tner </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6254 wabe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">to ERI<span class=\"_ _0\"></span>P Limited Par<span class=\"_ _0\"></span>tnership)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e83 y6254 wabf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _1\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e82 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6254 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e84 y6254 wac0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">8<span class=\"_ _0\"></span>0.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6255 wac1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ERI<span class=\"_ _0\"></span>P Limited Par<span class=\"_ _0\"></span>tnersh<span class=\"_ _0\"></span>ip (Limited Par<span class=\"_ _0\"></span>tners<span class=\"_ _0\"></span>hip<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e86 y6255 wac2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e85 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6255 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6255 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6256 wac3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G As<span class=\"_ _0\"></span>surance &amp; Pen<span class=\"_ _0\"></span>sions Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (non-tra<span class=\"_ _0\"></span>ding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e88 y6256 wac4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e87 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6256 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6256 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6257 wac5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">G Financial Ser<span class=\"_ _0\"></span>vices Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8a y6257 wac6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e89 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6257 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6257 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6258 wac7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G Life H Limited (h<span class=\"_ _0\"></span>olding com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x131a y6258 wac8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1e8b h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6258 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6258 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6259 wac9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">G T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s L<span class=\"_ _2\"></span>td (trus<span class=\"_ _0\"></span>tee comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8d y6259 waca h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e8c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6259 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6259 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625a wacb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Gallions Reach Shopping Park (Nominee) Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e8f y625a wacc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e8e h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625b wacd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Gres<span class=\"_ _0\"></span>ham Life Assur<span class=\"_ _0\"></span>ance S<span class=\"_ _0\"></span>ociet<span class=\"_ _0\"></span>y Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e55 y625b wa9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e54 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625c wace h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ice<span class=\"_ _0\"></span>ni Nomine<span class=\"_ _0\"></span>es (No. 2) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e91 y625c wacf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e90 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625c w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625d wad0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">IH (Jersey) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e93 y625d wad1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x1e92 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625d wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625d w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625e wad2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Impa<span class=\"_ _0\"></span>la Holding<span class=\"_ _0\"></span>s Limited (hol<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e94 y625e wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e46 y625e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y625e wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y625f wad3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Impala Loan Company 1 Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x10f6 y625f wad4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1e95 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y625f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y625f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6260 wad5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Inhoco 31<span class=\"_ _0\"></span>0<span class=\"_ _2\"></span>7 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e97 y6260 wad6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1e96 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6260 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6260 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6261 wad7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Laur<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ust Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e60 y6261 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y6261 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y6261 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6262 wad8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">London Lif<span class=\"_ _2\"></span>e T<span class=\"_ _2\"></span>rustees Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e98 y6262 wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6262 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6262 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6263 wada h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Namulas Pension T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (trustee company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e9c y6263 wadb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e9b h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6263 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6263 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x1e9d hc y6264 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d without </td><td></td></tr><tr><td class=\"c n x1d4 y6265 wadc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">National Provident Institution (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9e y6265 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x243 y6265 wadd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls11 ws11\">Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9f y6265 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6266 wade h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">National Provident L<span class=\"_ _2\"></span>ife Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea0 y6266 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea1 y6266 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea2 y6266 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6267 wae0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NM Life T<span class=\"_ _4\"></span>rustees Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xa26 y6267 wae1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1ea3 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6267 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6267 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6268 wae2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NM Pensions Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ea5 y6268 wae3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1ea4 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6268 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6268 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6269 wae4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">NP Life Ho<span class=\"_ _0\"></span>ldings Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea6 y6269 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea7 y6269 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea8 y6269 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626a wae5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">NPI (Printworks) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea9 y626a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y626a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y626a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626b wae6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">NPI (<span class=\"_ _0\"></span>Westg<span class=\"_ _0\"></span>ate<span class=\"_ _2\"></span>) Limite<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eac y626b wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ead y626b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eae y626b wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y626c ff2 fs6 fc3 sc0 ls17f ws1\">Patria Private Equi<span class=\"_ _0\"></span>ty T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t plc (formerly kn<span class=\"_ _0\"></span>ow as abrdn Private </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y626d wae7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Equit<span class=\"_ _0\"></span>y Oppor<span class=\"_ _0\"></span>tunitie<span class=\"_ _0\"></span>s T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t plc) (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1eb0 y626d wae8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1eaf h11 y5b56 ff2 fs9 fc3 sc0 ls1fb ws219\">49<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y626e wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y626e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y626f wae9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl (Cov<span class=\"_ _2\"></span>ent Garden) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6b y626f waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y626f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y626f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623b waea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (M<span class=\"_ _0\"></span>artin<span class=\"_ _0\"></span>eau Phas<span class=\"_ _0\"></span>e 1) Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb1 y623b wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb2 y623b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb3 y623b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6270 waea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (M<span class=\"_ _0\"></span>artin<span class=\"_ _0\"></span>eau Phas<span class=\"_ _0\"></span>e 2) Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb4 y6270 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb5 y6270 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb6 y6270 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6271 waeb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl (Moor House) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb7 y6271 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eb8 y6271 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eb9 y6271 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xb74 hc y6272 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Lia<span class=\"_ _0\"></span>bility </td><td></td></tr><tr><td class=\"c n x1d4 y6240 waed h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl (<span class=\"_ _0\"></span>WP) Investm<span class=\"_ _0\"></span>ents LLC (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ebb y6240 waee h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Wilm<span class=\"_ _0\"></span>ington</div><div class=\"t m0 x1eba h11 y5b56 ff2 fs9 fc3 sc0 ls1fa ws218\">50<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e66 y6240 waaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e67 y6240 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6273 waef h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl AL L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebc y6273 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ebd y6273 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebe y6273 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6274 waf0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Group Hol<span class=\"_ _0\"></span>dings Limited (inve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ebf y6274 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6274 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6274 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6275 waf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl Customer Care Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> (financial ser<span class=\"_ _0\"></span>vices company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec0 y6275 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec1 y6275 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec2 y6275 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6276 waf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Holding<span class=\"_ _0\"></span>s (No. 1) Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ec4 y6276 waf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x1ec3 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6276 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6276 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6277 waf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Holding<span class=\"_ _0\"></span>s (No. 2) Limited (<span class=\"_ _0\"></span>holding co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec5 y6277 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec6 y6277 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec7 y6277 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6278 waf5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Gro<span class=\"_ _0\"></span>up Secre<span class=\"_ _0\"></span>tariat Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (dorma<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec8 y6278 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ec9 y6278 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eca y6278 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6279 waf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Life Hol<span class=\"_ _0\"></span>dings Limite<span class=\"_ _0\"></span>d (holding c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecb y6279 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xdef y6279 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y6279 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y627a waf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl MP Birmingham Limi<span class=\"_ _2\"></span>ted (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecc y627a wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ecd y627a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ece y627a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c36 waf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl RL<span class=\"_ _2\"></span>G Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ecf y5c36 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed0 y5c36 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y5c36 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y627b waf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Pearl T<span class=\"_ _4\"></span>rustee<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed2 y627b waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed3 y627b wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed4 y627b w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y627c ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 4<span class=\"_ _0\"></span>) L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited) (formerly kn<span class=\"_ _0\"></span>ow as Phoe<span class=\"_ _0\"></span>nix </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5c3a wafa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Life<span class=\"_ _2\"></span> CA Holdings Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed5 y5c3a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed6 y5c3a wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y5c3a wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y627d ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 5<span class=\"_ _0\"></span>) Limited (formerly k<span class=\"_ _0\"></span>nown as Phoe<span class=\"_ _0\"></span>nix </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wafb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Group CA S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces Limited) (dor<span class=\"_ _0\"></span>mant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed7 y5a16 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e49 y5a16 wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4a y5a16 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wafc h2be\" id=\"_2ca74120-0cb7-4aa7-b0e3-ed117b59214c\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y627e ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y627e ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y627f ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y6280 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y6280 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y6280 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y6280 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c x1d4 y6281 wafd h267\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 6<span class=\"_ _0\"></span>) Limited (formerly k<span class=\"_ _0\"></span>nown as<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Life C<span class=\"_ _2\"></span>A Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed8 y6281 wa9d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed9 y6281 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6281 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y6282 wafd h267\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">PG D<span class=\"_ _0\"></span>ormant (No 7<span class=\"_ _0\"></span>) Limited (forme<span class=\"_ _0\"></span>rly known as<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">PGH CA Limit<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d) (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1edc y6282 wafe h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1edb h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6282 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6282 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6283 ff2 fs6 fc3 sc0 ls17f ws1\">PGH CA Lim<span class=\"_ _0\"></span>ited (f<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rmerly know<span class=\"_ _0\"></span>n as Sun Life of Cana<span class=\"_ _0\"></span>da </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6284 waff h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">UK Holdings Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ede y6284 wb00 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Hampsh<span class=\"_ _0\"></span>ire</div><div class=\"t m0 x1edd h11 y5b82 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6284 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wb01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGL Pen<span class=\"_ _0\"></span>sion T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ee0 y6285 wb02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x1edf h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ee1 y6285 w532 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited by G<span class=\"_ _0\"></span>uarantee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee2 y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6286 wb03 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Glasg<span class=\"_ _0\"></span>ow<span class=\"_ _2\"></span>) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee3 y6286 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ee4 y6286 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee5 y6286 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6287 wb04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGM<span class=\"_ _0\"></span>S (Irelan<span class=\"_ _0\"></span>d) Holding<span class=\"_ _0\"></span>s Unlimited C<span class=\"_ _0\"></span>ompany (ho<span class=\"_ _0\"></span>lding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1ee7 y6287 wb05 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x1ee6 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">5<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e80 y6287 wabd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Unlimite<span class=\"_ _0\"></span>d with Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e81 y6287 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wb06 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PGS 2 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee8 y6288 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd67 y6288 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ee9 y6288 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wb07 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix &amp; London Assurance Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eea y6250 wa83 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed9 y6250 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6289 wb08 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Bar<span class=\"_ _0\"></span>well<span class=\"_ _2\"></span> 2) Limited (dormant<span class=\"_ _2\"></span> com<span class=\"_ _0\"></span>pan<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eeb y6289 waad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eec y6289 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eed y6289 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wb09 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Chiswick House) Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eee y628a wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eef y628a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef0 y628a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wb0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Moor H<span class=\"_ _0\"></span>ouse 1) L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef1 y628b waad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef2 y628b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1046 y628b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wb0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Moor H<span class=\"_ _0\"></span>ouse 2)<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef3 y628c wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef4 y628c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef5 y628c wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628d wb0b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Printworks) Li<span class=\"_ _2\"></span>mited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef6 y628d wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ef7 y628d wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef8 y628d w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wb0c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix (Stockley Park) Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea9 y628e wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y628e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y628e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wb0d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Advisers Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef9 y628f wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y628f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y628f w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6290 wb0e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix AW<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e98 y6290 wad9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e99 y6290 wa84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6290 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 waa6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Custo<span class=\"_ _0\"></span>mer Care Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ancial se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed5 y6291 wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed6 y6291 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efc y6291 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wb0f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix ER1 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efd y6292 wadf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efe y6292 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eff y6292 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wb10 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER2 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fina<span class=\"_ _0\"></span>nce comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f00 y6293 wa87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f01 y6293 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f02 y6293 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6294 wb0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix ER3 Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f03 y6294 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f04 y6294 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f05 y6294 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wb11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER4 Limited (financ<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e79 y6295 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f06 y6295 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f07 y6295 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6296 wb10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER5 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f00 y6296 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f01 y6296 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f02 y6296 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6297 wb12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix ER6 Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>fin<span class=\"_ _0\"></span>ance com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f08 y6297 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f09 y6297 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f0a y6297 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6298 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group CA S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited (formerl<span class=\"_ _0\"></span>y known </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6299 wb13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as S<span class=\"_ _0\"></span>LFC<span class=\"_ gs47\"> </span>Ser<span class=\"_ _0\"></span>vices<span class=\"_ gs47\"> </span>C<span class=\"_ _0\"></span>ompany<span class=\"_ gs47\"> </span>(UK<span class=\"_ _0\"></span>)<span class=\"_ gs47\"> </span>Limited)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f0c y6299 wb14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ham<span class=\"_ _0\"></span>pshire</div><div class=\"t m0 x1f0b h11 y5b56 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6299 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6299 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y629a wb15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group Empl<span class=\"_ _0\"></span>oy<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Benefit T<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f0e y629a wb16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x1f0d h11 y5b9e ff2 fs9 fc3 sc0 ls1fc ws21a\">51<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f0f y629a wb17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Tr<span class=\"_ _0\"></span>u<span class=\"_ _1\"></span>s<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f10 y629a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y629b ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group H<span class=\"_ _0\"></span>oldings (B<span class=\"_ _0\"></span>ermuda) Limite<span class=\"_ _0\"></span>d (holding </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y629c wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">comp<span class=\"_ _0\"></span>any \u2013 directly ow<span class=\"_ _0\"></span>ned by the C<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f12 y629c wb18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f11 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6265 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6265 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x555 hc y629d ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y629e ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group H<span class=\"_ _0\"></span>oldings (non-tr<span class=\"_ _0\"></span>ading comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></td><td class=\"c x1f14 y629f wb19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x1f13 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f15 y629f wb1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Private Company<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f16 y629f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a0 wb1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Group M<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent Ltd (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ef9 y62a0 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y62a0 wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y62a0 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a1 wb1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Holdin<span class=\"_ _0\"></span>gs (Berm<span class=\"_ _0\"></span>uda) Limited (h<span class=\"_ _0\"></span>olding comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f18 y62a1 wb1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f17 h11 y5b9e ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62a1 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62a1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a2 wb1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Assur<span class=\"_ _0\"></span>ance Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f19 y62a2 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1a y62a2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1b y62a2 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62a3 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life CA Holding<span class=\"_ _0\"></span>s Limited (formerly k<span class=\"_ _0\"></span>nown as SLF of C<span class=\"_ _0\"></span>anada </td><td></td><td></td><td></td><td class=\"t m0 xb60 hc y62a4 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62a5 wb1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">UK Limite<span class=\"_ _0\"></span>d) (holdin<span class=\"_ _0\"></span>g company \u2013 dire<span class=\"_ _0\"></span>ctly owne<span class=\"_ _0\"></span>d by the Comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f1d y62a5 wb20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">H<span class=\"_ _0\"></span>ampshire</div><div class=\"t m0 x1f1c h11 y5b56 ff2 fs9 fc3 sc0 ls12a ws12e\">35<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"t m0 x679 hc y62a6 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></td><td></td></tr><tr><td class=\"t m0 x21a hc y62a7 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Life Holding<span class=\"_ _0\"></span>s Limited (ho<span class=\"_ _0\"></span>lding comp<span class=\"_ _0\"></span>any </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62a8 wb21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">\u2013 direc<span class=\"_ _0\"></span>tly owned by th<span class=\"_ _0\"></span>e Company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1e y62a8 waec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1f y62a8 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f20 y62a8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62a9 ff2 fs6 fc3 sc0 ls13 ws11\">Phoenix<span class=\"_ _2\"></span> Management Services Holdi<span class=\"_ _2\"></span>ngs </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ada wb22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">(Be<span class=\"_ _0\"></span>rmuda) Limited (h<span class=\"_ _0\"></span>olding com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f22 y5ada wb23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Bermuda</div><div class=\"t m0 x1f21 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">34<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62aa wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62aa w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adb wb24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Pension Scheme (<span class=\"_ _0\"></span>T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>) Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f23 y5adb wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f24 y5adb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f25 y5adb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wb25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix Pensions T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>e Services Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f26 y62ab wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f27 y62ab wb26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f28 y62ab w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ac wb27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix SCP Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f29 y62ac waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y62ac wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y62ac w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ad wb28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SCP Pen<span class=\"_ _0\"></span>sions T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustee<span class=\"_ _0\"></span>s Limited (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e36 y62ad wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y62ad wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y62ad w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ade wb29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SCP T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>stees Limi<span class=\"_ _0\"></span>ted (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2a y5ade wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xd42 y5ade wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y5ade w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wb2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SL Dire<span class=\"_ _0\"></span>ct Limited (do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e70 y62ae wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e71 y62ae wa96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2b y62ae w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wb2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV1 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2c y62af wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f2d y62af wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2e y62af w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b0 wb2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV2 Limite<span class=\"_ _0\"></span>d (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f2f y62b0 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f04 y62b0 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f05 y62b0 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae1 wb2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV3 Limite<span class=\"_ _0\"></span>d (in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f30 y5ae1 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f31 y5ae1 wb26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Share<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f32 y5ae1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e14 wb2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix SPV<span class=\"_ _2\"></span>4 Limite<span class=\"_ _0\"></span>d (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f33 y5e14 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f34 y5e14 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f35 y5e14 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e15 wb2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Phoenix UL<span class=\"_ _0\"></span>A L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f36 y5e15 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ea7 y5e15 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ord<span class=\"_ _0\"></span>inary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea8 y5e15 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e18 wb2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Manag<span class=\"_ _0\"></span>ers Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>unit t<span class=\"_ _0\"></span>rust man<span class=\"_ _0\"></span>ager)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e73 y5e18 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e74 y5e18 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e75 y5e18 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wb30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth Hol<span class=\"_ _0\"></span>dings Limited (<span class=\"_ _0\"></span>holding co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f37 y5ae5 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f38 y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f39 y5ae5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 wb31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited (financ<span class=\"_ _0\"></span>ial ser<span class=\"_ _0\"></span>vices c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3a y5b29 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f3b y5b29 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3c y5b29 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 wb32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Wealth T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tee Ser<span class=\"_ _0\"></span>vices Lim<span class=\"_ _0\"></span>ited (truste<span class=\"_ _0\"></span>e company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed2 y5b06 waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed3 y5b06 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed4 y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wb33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pilang<span class=\"_ _0\"></span>en Logis<span class=\"_ _0\"></span>tik AB (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3d y5b2a wb34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">S<span class=\"_ _0\"></span>to<span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>k<span class=\"_ _0\"></span>ho<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>m\u00b9\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1694 y5b2a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3e y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wb35 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Pilang<span class=\"_ _0\"></span>en Logis<span class=\"_ _0\"></span>tik I AB (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f3f y5a16 wb36 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">S<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>oc<span class=\"_ _0\"></span>k<span class=\"_ _0\"></span>h<span class=\"_ _0\"></span>ol<span class=\"_ _0\"></span>m\u00b9\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e63 y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e64 y5a16 wa89 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wb37 h2bf\" id=\"_99a8917b-b7ce-431a-9bd9-16127a98d566\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y62b3 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y62b3 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62b4 wb38 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Comp<span class=\"_ _0\"></span>anies Se<span class=\"_ _0\"></span>rvic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f41 y62b4 wb39 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f40 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b4 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b4 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b5 wb3a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure FS Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f43 y62b5 wb3b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f42 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b5 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b5 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b6 wb3c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure FSH U<span class=\"_ _0\"></span>K Limited (hol<span class=\"_ _0\"></span>ding compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f45 y62b6 wb3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f44 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b6 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b6 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6284 wb3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws144\">ReAs<span class=\"_ _0\"></span>sure Group pl<span class=\"_ _0\"></span>c (holding co<span class=\"_ _0\"></span>mpany \u2013 direc<span class=\"_ _0\"></span>tly owned by th<span class=\"_ _0\"></span>e Company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1e6f y6284 waaf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _1\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1e6e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6284 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wb3f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Life Pension T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>tees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>do<span class=\"_ _0\"></span>rmant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xd2d y6285 wb40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f46 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6285 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b7 wb41 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure LL Limited (dorm<span class=\"_ _0\"></span>ant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xd2d y62b7 wb40 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _1\"></span>d</div><div class=\"t m0 x1f46 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62b7 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62b7 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6287 wb42 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Midc<span class=\"_ _0\"></span>o Li<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ited (holdin<span class=\"_ _0\"></span>g company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x11f5 y6287 wb43 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f47 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6287 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6287 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wb44 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure Nomin<span class=\"_ _0\"></span>ees Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>dor<span class=\"_ _0\"></span>mant comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f49 y6288 wb45 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f48 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6288 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6288 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wb46 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">ReAssure Pension T<span class=\"_ _4\"></span>ruste<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4b y6250 wb47 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4a h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6250 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wb48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure PM Limited (dorm<span class=\"_ _0\"></span>ant compa<span class=\"_ _0\"></span>n<span class=\"_ _2\"></span>y)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4d y6252 wb49 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4c h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6252 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wb4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ustees Lim<span class=\"_ _0\"></span>ited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f4f y628a wb4b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f4e h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628a wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628a w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wb4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure T<span class=\"_ _4\"></span>wo Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f41 y628b wb39 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _1\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f40 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628b wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628b w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wb4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ReAs<span class=\"_ _0\"></span>sure UK Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Company Limite<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1515 y628c wb4e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f50 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y628c wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y628c w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b8 wb4f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Scot<span class=\"_ _0\"></span>tish Mutual Assurance Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f51 y62b8 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f52 y62b8 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e4f y62b8 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wb50 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Scot<span class=\"_ _0\"></span>tish Mutual Nominees Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f53 y628e wb51 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f54 y628e wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f55 y628e wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wb52 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>ottish M<span class=\"_ _0\"></span>utual Pensi<span class=\"_ _0\"></span>on F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds Investm<span class=\"_ _0\"></span>ent Limited (trus<span class=\"_ _0\"></span>tee compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f56 y628f wb51 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f57 y628f wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f58 y628f wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b9 wb53 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL (<span class=\"_ _0\"></span>NEWCO) Limi<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d (dormant com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e62 y62b9 wa91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e5e y62b9 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y62b9 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 wb54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">SL Liverpool Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f59 y6291 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f5a y6291 wa88 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f5b y6291 wa89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wb55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Belg<span class=\"_ _0\"></span>ium No.1 SA (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f5d y6292 wb56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Brus<span class=\"_ _0\"></span>sels</div><div class=\"t m0 x1f5c h11 y5a78 ff2 fs9 fc3 sc0 ls1fd ws21b\">10<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f5e y6292 wb57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">Soci\u00e9t\u00e9 Anonyme<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ea2 y6292 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wb58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Denm<span class=\"_ _0\"></span>ark No.1 ApS (inves<span class=\"_ _0\"></span>tment comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f5f y6293 wb59 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">Copenh<span class=\"_ _0\"></span>agen<span class=\"_ _2\"></span>\u00b9\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f60 y6293 wa84 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f61 y6293 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ba wb5a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Denm<span class=\"_ _0\"></span>ark No.<span class=\"_ _0\"></span>2 ApS (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f62 y62ba wb5b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">C<span class=\"_ _0\"></span>openhagen\u00b9<span class=\"_ _2\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f63 y62ba wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f64 y62ba w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wb5c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A France S<span class=\"_ _0\"></span>CI (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f66 y6295 wb5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f65 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6295 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6295 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6296 wb5e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.1 S.\u00e0<span class=\"_ _0\"></span>.r<span class=\"_ _2\"></span>.l. (inves<span class=\"_ _0\"></span>tment co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c xde6 y6296 wb5f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x1f67 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6296 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6296 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6297 wb60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.2 S<span class=\"_ _0\"></span>.\u00e0.<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>l. (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f69 y6297 wb61 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f68 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y6297 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y6297 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bb wb60 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Germ<span class=\"_ _0\"></span>any No.3 S<span class=\"_ _0\"></span>.\u00e0.<span class=\"_ _0\"></span>r<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>l. (investme<span class=\"_ _0\"></span>nt company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f69 y62bb wb61 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x1f68 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62bb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62bb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bc wb62 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A Nethe<span class=\"_ _0\"></span>rlands No<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 B<span class=\"_ _0\"></span>.<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>. (investm<span class=\"_ _0\"></span>ent comp<span class=\"_ _0\"></span>any<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6a y62bc wb63 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Amster<span class=\"_ _2\"></span>dam<span class=\"_ _2\"></span>\u00b9\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f6b y62bc wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6c y62bc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bd wb64 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>OM (No. 8<span class=\"_ _0\"></span>) L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited (dormant co<span class=\"_ _0\"></span>mpany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6d y62bd wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f6e y62bd wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f6f y62bd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62be wb65 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>OM (No. 9<span class=\"_ _0\"></span>) Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f70 y62be wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f71 y62be wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f72 y62be w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62bf w967 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">SL<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>COM (No. 1<span class=\"_ _0\"></span>0)<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f73 y62bf wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f74 y62bf wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sha<span class=\"_ _0\"></span>res<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f75 y62bf w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c0 ff2 fs6 fc3 sc0 ls17f ws1\">SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment G<span class=\"_ _0\"></span>P Limited (Gen<span class=\"_ _0\"></span>eral </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c1 wb66 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Par<span class=\"_ _0\"></span>tner to SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f51 y62c1 wb67 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1f76 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62c1 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62c1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c2 wb68 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Agency Ser<span class=\"_ _0\"></span>vices Limi<span class=\"_ _2\"></span>ted (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f77 y62c2 wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ecd y62c2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ece y62c2 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c3 wb69 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>ets and Emp<span class=\"_ _0\"></span>loyee Ser<span class=\"_ _0\"></span>vices Lim<span class=\"_ _0\"></span>ited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f78 y62c3 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3c y62c3 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3d y62c3 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c4 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Ass<span class=\"_ _0\"></span>urance (H<span class=\"_ _0\"></span>WPF) Luxe<span class=\"_ _0\"></span>mbourg </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c5 wb6a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">S<span class=\"_ _0\"></span>.\u00e0.r.l. (investm<span class=\"_ _0\"></span>ent company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f7a y62c5 wb6b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x1f79 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62c5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62c5 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62c6 wb6c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Finan<span class=\"_ _0\"></span>cial Advice S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ces Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x384 y62c6 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7b y62c6 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y62c6 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c7 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Group Limite<span class=\"_ _0\"></span>d (<span class=\"_ _2\"></span>form<span class=\"_ _0\"></span>erly known </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62c8 wb6d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">as Pho<span class=\"_ _0\"></span>enix Group C<span class=\"_ _0\"></span>apital Limite<span class=\"_ _0\"></span>d)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7d y62c8 wa83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7e y62c8 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7f y62c8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623a wb6e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life In<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds Limited (<span class=\"_ _2\"></span>dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f80 y623a wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f81 y623a wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f82 y623a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623c wb6f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Lifetime Mor<span class=\"_ _0\"></span>tgag<span class=\"_ _0\"></span>es Limited (mor<span class=\"_ _0\"></span>tga<span class=\"_ _0\"></span>ge provider c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f83 y623c wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1efa y623c wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y623c w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62c9 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life L<span class=\"_ _2\"></span>imited (formerly known as L<span class=\"_ _2\"></span>ondon </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62ca wb70 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Life<span class=\"_ _2\"></span> Limited) (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f84 y62ca wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f85 y62ca wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordina<span class=\"_ _0\"></span>ry Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f86 y62ca wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y623f wb71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Master T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span> C<span class=\"_ _0\"></span>o.<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6b y623f waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e6c y623f wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y623f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cb wb72 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life Mortgag<span class=\"_ _0\"></span>es L<span class=\"_ _2\"></span>imited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f87 y62cb waad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1eaa y62cb wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eab y62cb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6274 wb73 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Pension Funds Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f88 y6274 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f89 y6274 wb74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lim<span class=\"_ _0\"></span>ited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8a y6274 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cc wb75 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life P<span class=\"_ _2\"></span>rope<span class=\"_ _0\"></span>rty C<span class=\"_ _0\"></span>ompany<span class=\"_ _2\"></span> Limited (dormant company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8b y62cc wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e37 y62cc wa84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xee2 y62cc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62cd wb71 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Standard Life T<span class=\"_ _4\"></span>rustee Comp<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span>y Limited (t<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>ustee company<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8c y62cd wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f8d y62cd wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordinar<span class=\"_ _0\"></span>y Sh<span class=\"_ _0\"></span>ares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8e y62cd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ce wb76 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sun<span class=\"_ _0\"></span>Life L<span class=\"_ _2\"></span>im<span class=\"_ _0\"></span>ited (financia<span class=\"_ _0\"></span>l serv<span class=\"_ _0\"></span>ices dist<span class=\"_ _0\"></span>ribution com<span class=\"_ _0\"></span>pany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f8f y62ce wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7b y62ce wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y62ce wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62cf ff2 fs6 fc3 sc0 ls17f ws1\">The H<span class=\"_ _0\"></span>eritable S<span class=\"_ _0\"></span>ecuri<span class=\"_ _0\"></span>ties and Mo<span class=\"_ _0\"></span>rtga<span class=\"_ _0\"></span>ge Investm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y62d0 wb77 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Asso<span class=\"_ _0\"></span>ciation<span class=\"_ _2\"></span> Ltd (<span class=\"_ _2\"></span>dorm<span class=\"_ _0\"></span>an<span class=\"_ _2\"></span>t company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f90 y62d0 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f1a y62d0 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f1b y62d0 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d1 wb78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">The London Lif<span class=\"_ _2\"></span>e As<span class=\"_ _0\"></span>sociation Li<span class=\"_ _2\"></span>mited (dormant company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f91 y62d1 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f92 y62d1 wb79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limite<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y G<span class=\"_ _0\"></span>uarantee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f93 y62d1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d2 wb7a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The Path<span class=\"_ _0\"></span>e Building Ma<span class=\"_ _0\"></span>nagem<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>any Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1f95 y62d2 wb7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1bc ws1cf\">Te<span class=\"_ _1\"></span>l<span class=\"_ _0\"></span>f<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>d</div><div class=\"t m0 x1f94 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">4<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y62d2 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e40 y62d2 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62d3 wb7c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The Ph<span class=\"_ _0\"></span>oenix Life SC<span class=\"_ _0\"></span>P Instit<span class=\"_ _0\"></span>ution (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f96 y62d3 wb51 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f97 y62d3 wb74 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Lim<span class=\"_ _0\"></span>ited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e47 y62d3 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5c39 wb7d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">The S<span class=\"_ _0\"></span>cott<span class=\"_ _0\"></span>ish Mutua<span class=\"_ _0\"></span>l Assura<span class=\"_ _0\"></span>nce So<span class=\"_ _0\"></span>ciety (dor<span class=\"_ _0\"></span>mant compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f98 y5c39 wa91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f99 y5c39 wb7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited by Guar<span class=\"_ _0\"></span>antee<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1efb y5c39 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y62d4 ff2 fs6 fc3 sc0 ls17f ws1\">The St<span class=\"_ _0\"></span>andard Life As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e Company of Europ<span class=\"_ _0\"></span>e </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a15 wb7f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">B.<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>. (<span class=\"_ _2\"></span>finan<span class=\"_ _0\"></span>cial<span class=\"_ _2\"></span> hol<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span>ing company)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f9a y5a15 wb80 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Amsterdam<span class=\"_ _2\"></span>\u00b9\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ed0 y5a15 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y5a15 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wb81 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ebn<span class=\"_ _0\"></span>et (Holdin<span class=\"_ _0\"></span>gs) Limited (ho<span class=\"_ _0\"></span>lding compa<span class=\"_ _0\"></span>ny<span class=\"_ _2\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7d y5a16 wa83 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1f7e y5a16 wa88 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>rdinar<span class=\"_ _0\"></span>y Shares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7f y5a16 w687 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wb82 h2c0\" id=\"_2a0eba0c-6fe1-4d68-94cd-32f6d037fa95\"><tr><td></td><td></td><td class=\"t m0 x1f9b h29 y62d5 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 xd04 h29 y62d5 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1251 h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x1f9c h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x1f9d h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x941 h29 y62d6 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x6bc h29 y62d7 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1f9e h29 y62d7 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3be h29 y62d7 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 h29 y62d7 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y62d8 wb83 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ebn<span class=\"_ _0\"></span>et Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f9f y62d8 wb84 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh\u00b2<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fa0 y62d8 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Or<span class=\"_ _0\"></span>dinary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa1 y62d8 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62d9 wb85 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Welbrent Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Investm<span class=\"_ _0\"></span>ent Comp<span class=\"_ _0\"></span>any Limited (dormant c<span class=\"_ _0\"></span>ompany)<span class=\"_ _3bd\"> </span></div></td><td class=\"c x1fa3 y62d9 wb86 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fa2 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fa4 y62d9 wa88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa5 y62d9 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62da wb87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws13\">ESP General P<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>tner<span class=\"_ _2\"></span> Limit<span class=\"_ _2\"></span>ed Partnership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fa7 y62da wb88 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fa6 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62da wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62da w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62db wb8a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ESP I<span class=\"_ _0\"></span>I Gene<span class=\"_ _0\"></span>ral Partn<span class=\"_ _0\"></span>er Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1faa y62db wb8b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x1fa9 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62db wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62db w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62dc wb8c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Europe<span class=\"_ _0\"></span>an Strategi<span class=\"_ _0\"></span>c P<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>rtne<span class=\"_ _0\"></span>rs LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fac y62dc wb8d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fab h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62dc wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fad y62dc wb8e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">72.70<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62dd wb8f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Patria Pho<span class=\"_ _0\"></span>enix Glob<span class=\"_ _0\"></span>al Private Equit<span class=\"_ _0\"></span>y III LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1faf y62dd wb90 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh</div><div class=\"t m0 x1fae h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62dd wb89 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62dd w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62de wb91 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Phoe<span class=\"_ _0\"></span>nix Highvis<span class=\"_ _0\"></span>ta V<span class=\"_ _2\"></span>enture C<span class=\"_ _0\"></span>apital Par<span class=\"_ _0\"></span>tners LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb1 y62de wb92 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 ws53\">Bos<span class=\"_ _0\"></span>ton</div><div class=\"t m0 x1fb0 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">46<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62de wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62de w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62df wb93 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 wsd\">Pearl Private E<span class=\"_ _2\"></span>quit<span class=\"_ _0\"></span>y LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb3 y62df wb94 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x1fb2 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62df wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62df w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e0 wb95 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Pearl Str<span class=\"_ _0\"></span>ategic Cred<span class=\"_ _0\"></span>it LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb5 y62e0 wb96 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x1fb4 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62e0 wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62e0 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e1 wb97 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">SLI<span class=\"_ _0\"></span>F Proper<span class=\"_ _0\"></span>ty Inve<span class=\"_ _0\"></span>stment LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb7 y62e1 wb98 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh</div><div class=\"t m0 x1fb6 h11 y5b82 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y62e1 wb89 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa8 y62e1 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62e2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Global F<span class=\"_ _2\"></span>unds \u2013 Janus Hen<span class=\"_ _0\"></span>derson </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62e3 wb99 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ins<span class=\"_ _0\"></span>titutiona<span class=\"_ _0\"></span>l Overs<span class=\"_ _0\"></span>eas Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb9 y62e3 wb9a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fb8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62e4 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y62e4 wb9c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls14 ws1e\">99.<span class=\"_ _0\"></span>28%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e5 wb9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Ins<span class=\"_ _0\"></span>titution<span class=\"_ _0\"></span>al High Alph<span class=\"_ _0\"></span>a UK Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fb9 y62e5 wb9a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fb8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e5 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbd y62e5 wb9f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls11 ws11\">92.<span class=\"_ _0\"></span>50%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e6 wba0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Mainstream UK Equit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fbf y62e6 wba1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fbe h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e6 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e6 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e7 wba2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Shor<span class=\"_ _0\"></span>t Duration Bond F<span class=\"_ _2\"></span>und<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc2 y62e7 wba3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc1 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e7 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e7 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62e8 wba4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional UK Equity T<span class=\"_ _2\"></span>racker T<span class=\"_ _4\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc4 y62e8 wba5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc3 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y62e8 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y62e8 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62e9 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus Hender<span class=\"_ _0\"></span>son </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ea wba6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Ins<span class=\"_ _0\"></span>titutiona<span class=\"_ _0\"></span>l Asia Pacific ex J<span class=\"_ _0\"></span>apan Index O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc6 y62ea wba7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc5 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ea wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y62ea wba8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">9<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>.04%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62eb ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ec wba9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Hender<span class=\"_ _0\"></span>son Institutional Japan Index Oppor<span class=\"_ _0\"></span>tuniti<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc9 y62ec wbaa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc8 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ec wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fca y62ec wbab h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">86.39%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y62ed ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Strat<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gic In<span class=\"_ _2\"></span>vestm<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span> Funds \u2013 Janus Hender<span class=\"_ _0\"></span>son </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y62ee wbac h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls56 wsd\">Instit<span class=\"_ _0\"></span>utional North Am<span class=\"_ _0\"></span>erican Index Oppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fcc y62ee wbad h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fcb h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62ef wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y62ef wbae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">80.6<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f0 wbaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS A<span class=\"_ _0\"></span>sia Pacific ex Jap<span class=\"_ _0\"></span>an Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fcd y62f0 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fce y62f0 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x17cb y62f0 wbb1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f1 wbb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Em<span class=\"_ _0\"></span>erging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fcf y62f1 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd0 y62f1 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd1 y62f1 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f2 wbb4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Europ<span class=\"_ _0\"></span>ean ex UK Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd2 y62f2 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5 y62f2 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd3 y62f2 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f3 wbb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd4 y62f3 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd5 y62f3 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd6 y62f3 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f4 wbb6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n European E<span class=\"_ _0\"></span>x UK Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd7 y62f4 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd8 y62f4 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd9 y62f4 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f5 wbb8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n Nort<span class=\"_ _0\"></span>h America<span class=\"_ _0\"></span>n Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fd2 y62f5 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5 y62f5 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fd3 y62f5 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f6 wbb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n UK Gilt Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fda y62f6 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdb y62f6 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdc y62f6 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62f7 wbbb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Lothia<span class=\"_ _0\"></span>n UK Listed S<span class=\"_ _0\"></span>maller C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fdd y62f7 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fde y62f7 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fdf y62f7 wbbc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1ff ws21d\">99.99%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f8 wbbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe0 y62f8 wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe1 y62f8 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e57 y62f8 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f9 wbbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican 2 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe2 y62f9 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe3 y62f9 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ec7 y62f9 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fa wbbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican 3 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe2 y62fa wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe3 y62fa wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe4 y62fa w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fb wbc0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS Ste<span class=\"_ _0\"></span>rling Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe5 y62fb wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe6 y62fb wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62fb w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fc wbc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index A<span class=\"_ _0\"></span>sia Pacific ex Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fe8 y62fc wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe9 y62fc wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fea y62fc w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fd wbc2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index Em<span class=\"_ _0\"></span>erging M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1feb y62fd wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fec y62fd wbc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y62fd w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fe wbc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index Euro<span class=\"_ _0\"></span>pean Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1fee y62fe wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fef y62fe wbc5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62fe w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ff wbc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index J<span class=\"_ _0\"></span>apan Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff1 y62ff wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y62ff wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y62ff w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6300 wbc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index U<span class=\"_ _0\"></span>K Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff1 y6300 wad9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y6300 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y6300 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6301 wbc8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index U<span class=\"_ _0\"></span>S Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff3 y6301 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff2 y6301 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fed y6301 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62aa wbc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS U<span class=\"_ _0\"></span>K All Share Lis<span class=\"_ _0\"></span>ted Equit<span class=\"_ _0\"></span>y Multi Ma<span class=\"_ _0\"></span>nager Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff4 y62aa wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff5 y62aa wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff6 y62aa wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6302 wbca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM ACS US D<span class=\"_ _0\"></span>ollar Credi<span class=\"_ _0\"></span>t F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff7 y6302 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff8 y6302 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ed1 y6302 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wbcb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Asia Pac<span class=\"_ _0\"></span>ific (Excl<span class=\"_ _0\"></span>uding Japan) Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ff9 y62ab wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffa y62ab wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffb y62ab w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ac wbcc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Emergin<span class=\"_ _0\"></span>g Market Debt Un<span class=\"_ _0\"></span>constr<span class=\"_ _0\"></span>ained Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffc y62ac wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffd y62ac wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62ac w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ad wbcd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Emergin<span class=\"_ _0\"></span>g Markets Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffe y62ad wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fff y62ad wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62ad w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6303 wbce h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Euro Sovereig<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2000 y6303 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2001 y6303 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y6303 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wbcf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Europea<span class=\"_ _0\"></span>n Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2002 y62ae wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2003 y62ae wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2004 y62ae w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wbd0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Floating R<span class=\"_ _0\"></span>ate ABS Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffc y62af wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ffd y62af wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff0 y62af w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b0 wbd1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Globa<span class=\"_ _0\"></span>l Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ffe y62b0 wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fff y62b0 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fe7 y62b0 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.0<span class=\"_ _2\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6304 wbd2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Globa<span class=\"_ _0\"></span>l Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2005 y6304 wbbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2006 y6304 wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y6304 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e14 wbd3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Index-<span class=\"_ _0\"></span>Link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Sterling He<span class=\"_ _0\"></span>dged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2007 y5e14 wadf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyth<span class=\"_ _0\"></span>all\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2008 y5e14 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1f7c y5e14 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e15 wb0b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Long Gilt Ste<span class=\"_ _0\"></span>rling Hed<span class=\"_ _0\"></span>ged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2009 y5e15 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200a y5e15 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1ff6 y5e15 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e18 wbd4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Shor<span class=\"_ _0\"></span>t Dur<span class=\"_ _0\"></span>ation Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200b y5e18 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200c y5e18 wbd5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200d y5e18 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5e1a wbd6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sterling Cre<span class=\"_ _0\"></span>dit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200e y5e1a wa87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200f y5e1a wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y5e1a wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b29 wbd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sterling G<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>rnment Bon<span class=\"_ _0\"></span>d Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2010 y5b29 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x200f y5b29 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e5f y5b29 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b06 w9c9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Sub-S<span class=\"_ _0\"></span>ov<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>reign A Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2000 y5b06 wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2001 y5b06 wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e9a y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5b2a wbd8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell T<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>ctical A<span class=\"_ _0\"></span>sset Allo<span class=\"_ _0\"></span>cation Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2011 y5b2a wa9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2006 y5b2a wbb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1eda y5b2a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wbd9 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Uk Equit<span class=\"_ _0\"></span>y Incom<span class=\"_ _0\"></span>e Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2012 y5a16 wadf h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">Wyt<span class=\"_ _0\"></span>hall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2013 y5a16 wbba h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2014 y5a16 wa89 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wbda h2bf\" id=\"_66174a3b-54c2-41ab-bc6c-f4f3a7d78229\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y62b1 ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y62b2 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y62b3 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y62b3 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y62b3 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y62b4 wbdb h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM B<span class=\"_ _0\"></span>othwell Ultra S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>uration Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x34d y62b4 wad9 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2015 y62b4 wbba h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y62b4 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b5 wbdc h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM Far E<span class=\"_ _0\"></span>astern U<span class=\"_ _0\"></span>nit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x200b y62b5 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2016 y62b5 wbc5 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2017 y62b5 wbdd h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>70%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b6 wbde h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K All-Share In<span class=\"_ _0\"></span>dex Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2018 y62b6 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2015 y62b6 wbba h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e61 y62b6 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6284 wbdf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K Stock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x3db y6284 wa87 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">W<span class=\"_ _0\"></span>ytha<span class=\"_ _0\"></span>ll\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2019 y6284 wbb7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e6d y6284 w687 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6285 wbe0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">PUTM U<span class=\"_ _0\"></span>K Stock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Fund (S<span class=\"_ _0\"></span>eries 3)<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x201a y6285 wa9d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">Wy<span class=\"_ _0\"></span>thall\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201b y6285 wbc5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201c y6285 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b7 wbe1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di MSCI Ch<span class=\"_ _0\"></span>ina ESG Lead<span class=\"_ _0\"></span>ers Se<span class=\"_ _0\"></span>lect<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x201d y62b7 wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3c y62b7 wbe3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x201e y62b7 wbe4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls5f ws122\">63.46<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6305 wbe5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">iSha<span class=\"_ _0\"></span>res 350 U<span class=\"_ _0\"></span>K Equit<span class=\"_ _0\"></span>y Index Fund UK<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2020 y6305 wbe6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x201f h11 y5b82 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6287 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6287 wbe7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6288 wbe8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">iSha<span class=\"_ _0\"></span>res Bloom<span class=\"_ _0\"></span>berg Roll Se<span class=\"_ _0\"></span>lect C<span class=\"_ _0\"></span>ommodit<span class=\"_ _0\"></span>y Strate<span class=\"_ _0\"></span>gy ET<span class=\"_ _0\"></span>F<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2024 y6288 wbe9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Wilmingto<span class=\"_ _0\"></span>n</div><div class=\"t m0 x2023 h11 y5a78 ff2 fs9 fc3 sc0 ls202 ws220\">47<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6288 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6288 wbea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15a ws163\">5<span class=\"_ _2\"></span>1.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6250 wbeb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroders (<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure Growth C<span class=\"_ _0\"></span>apital) U<span class=\"_ _0\"></span>K Private Ass<span class=\"_ _0\"></span>ets L<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>AF<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2026 y6250 wbec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2025 h11 y5b82 ff2 fs9 fc3 sc0 ls203 ws221\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6250 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6250 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6252 wbed h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroders (<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>ut<span class=\"_ _0\"></span>ure Growth C<span class=\"_ _0\"></span>apital) Gl<span class=\"_ _0\"></span>obal Private As<span class=\"_ _0\"></span>sets L<span class=\"_ _2\"></span>T<span class=\"_ _4\"></span>AF<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2029 y6252 wbee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2028 h11 y5b82 ff2 fs9 fc3 sc0 ls203 ws221\">55<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6252 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6252 w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628a wbef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">abrdn (Lo<span class=\"_ _2\"></span>thian) International T<span class=\"_ _4\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y628a wbf0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628a wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y628a wbf1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ff ws21d\">99.99<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628b wbf2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">abrdn (Lo<span class=\"_ _2\"></span>thian) Japan T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202e y628b wbf3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202d h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628b wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y628b wbf4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628c wbf5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) North A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2031 y628c wbf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2030 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628c wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628c wbf7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">98.33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b8 wbf8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) P<span class=\"_ _2\"></span>a<span class=\"_ _0\"></span>cific Basin T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2034 y62b8 wbf9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2033 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628d wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628d wbfa h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls14 ws1e\">98<span class=\"_ _0\"></span>.28%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628e wbfb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn (Lothi<span class=\"_ _0\"></span>an) UK Equit<span class=\"_ _0\"></span>y Gener<span class=\"_ _0\"></span>al T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2036 y628e wbfc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2035 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y628e wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y628e wbdd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17b ws18b\">9<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>70%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y628f wbfd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets I<span class=\"_ _0\"></span>ncome Equi<span class=\"_ _0\"></span>ty Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2038 y628f wbfe h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x2037 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y628f wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y628f wbff h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12b ws3c\">75.<span class=\"_ _0\"></span>56%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62b9 wc00 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e Ex UK Eth<span class=\"_ _0\"></span>ical Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203b y62b9 wc01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203a h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62b9 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62b9 wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">8<span class=\"_ _0\"></span>0.3<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6291 wc03 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn MT A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Un<span class=\"_ _0\"></span>constr<span class=\"_ _0\"></span>ained Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y6291 wc04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6291 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x203e y6291 wc05 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">72.7<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6292 wc06 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed I Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2040 y6292 wc07 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203f h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6292 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6292 wc08 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">78<span class=\"_ _0\"></span>.33<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6293 wc09 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2042 y6293 wc0a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2041 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6293 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6293 wc0b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">79.02%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ba wc0c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed II<span class=\"_ _0\"></span>I F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2045 y62ba wc0d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2044 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62ba wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62ba wc0e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls10 ws10\">8<span class=\"_ _0\"></span>6.29%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6295 wc0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed V Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2047 y6295 wc10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x2046 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6295 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2048 y6295 wc11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">79.31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x246 hc y6306 ff2 fs6 fc3 sc0 ls1 ws1\">Sp<span class=\"_ _0\"></span>ecial Limite<span class=\"_ _0\"></span>d </td><td></td></tr><tr><td class=\"c n x1d4 y6307 wc12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ph<span class=\"_ _0\"></span>oenix Fund Fin<span class=\"_ _0\"></span>ancing S<span class=\"_ _0\"></span>CSP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x204a y6307 wc13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2049 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204b y6307 wc14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Partn<span class=\"_ _0\"></span>ership<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204c y6307 wa89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.00<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6308 wc15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Glob<span class=\"_ _0\"></span>al Corpo<span class=\"_ _0\"></span>rate Bond T<span class=\"_ _2\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x204e y6308 wc16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x204d h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6261 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204f y6261 wc17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">9<span class=\"_ _0\"></span>5.61%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6299 waf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Sterling C<span class=\"_ _0\"></span>orpor<span class=\"_ _0\"></span>ate Bond T<span class=\"_ _2\"></span>racker Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2051 y6299 wc18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2050 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6299 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2052 y6299 wc19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls130 ws135\">84.86%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y629a wc1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Euro Liqui<span class=\"_ _0\"></span>dity 1 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2054 y629a wc1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2053 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y629a wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2055 y629a w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6309 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Ster<span class=\"_ _0\"></span>ling Liquidit<span class=\"_ _0\"></span>y <span class=\"ls1\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6265 wc1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">2 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1145 y6265 wc1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2056 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6265 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2055 y6265 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y630a ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) \u2013 Seab<span class=\"_ _0\"></span>ury Ster<span class=\"_ _0\"></span>ling Liquidit<span class=\"_ _0\"></span>y <span class=\"ls1\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y629f wc1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">3 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1145 y629f wc1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2056 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y630b wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2057 y630b w449 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls170 ws142\">86.85%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a0 wc1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2059 y62a0 wc20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2058 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62a0 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y62a0 wc02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">5<span class=\"_ _0\"></span>9.0<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62a1 wc21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able Index World Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x205b y62a1 wc22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x205a h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y62a1 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205c y62a1 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">72.<span class=\"_ _0\"></span>57%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630c wc23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Real Es<span class=\"_ _0\"></span>tate Feed<span class=\"_ _0\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2034 y630c wbf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2033 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y630c wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205d y630c wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">7<span class=\"_ _0\"></span>2.12<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630d wc25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Real Es<span class=\"_ _0\"></span>tate Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x205f y630d wc26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x205e h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y630d wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x205c y630d w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">8<span class=\"_ _0\"></span>9.91%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y630e wc27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">HS<span class=\"_ _0\"></span>BC Investm<span class=\"_ _0\"></span>ent Funds \u2013 Balan<span class=\"_ _0\"></span>ced Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2061 y630e wc28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2060 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y630e wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2048 y630e wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">78.<span class=\"_ _0\"></span>31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x59b hc y630f ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y6310 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Private Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d LP<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x2063 y6311 wc2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x2062 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6311 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6311 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x59b hc y6312 ff2 fs6 fc3 sc0 ls11 ws11\">Cayman<span class=\"_ _2\"></span> </td><td></td><td></td></tr><tr><td class=\"t m0 x21a hc y6313 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic C<span class=\"_ _0\"></span>redit Fund LP<span class=\"_ _3bd\"> </span></td><td></td><td class=\"c x2063 y6314 wc2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Islands</div><div class=\"t m0 x2062 h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6315 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6315 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6316 wc2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds plc \u2013 Fundame<span class=\"_ _0\"></span>ntal Strate<span class=\"_ _0\"></span>gies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2066 y6316 wc2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2065 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6316 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6316 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6317 wc2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Igni<span class=\"_ _0\"></span>s Strategic S<span class=\"_ _0\"></span>olution<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds plc \u2013 System<span class=\"_ _0\"></span>atic Strateg<span class=\"_ _0\"></span>ies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2068 y6317 wc2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2067 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">18<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6317 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2027 y6317 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6318 wc2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Nor<span class=\"_ _0\"></span>th Amer<span class=\"_ _0\"></span>ican Strate<span class=\"_ _0\"></span>gic Par<span class=\"_ _0\"></span>tners (Fe<span class=\"_ _0\"></span>eder) 20<span class=\"_ _0\"></span>08 Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x206a y6318 wc30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Edinb<span class=\"_ _0\"></span>urgh</div><div class=\"t m0 x2069 h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">52<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6318 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6318 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6319 wc31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al European Equit<span class=\"_ _0\"></span>y Inc<span class=\"_ _0\"></span>ome Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x206b y6319 wc32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x206c y6319 wbb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x206d y6319 wbe7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _1\"></span>8<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6242 wc33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Nor<span class=\"_ _0\"></span>th Amer<span class=\"_ _0\"></span>ican Strate<span class=\"_ _0\"></span>gic Par<span class=\"_ _0\"></span>tners 20<span class=\"_ _0\"></span>08 L.<span class=\"_ _0\"></span>P<span class=\"_ _4\"></span>.<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x206f y6242 wc34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Delaware</div><div class=\"t m0 x206e h11 y5b56 ff2 fs9 fc3 sc0 ls1 ws1\">7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6242 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6242 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6243 wc35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Par<span class=\"_ _0\"></span>tners Gro<span class=\"_ _0\"></span>up Phoeni<span class=\"_ _0\"></span>x, L.<span class=\"_ _0\"></span>P<span class=\"_ _4\"></span>. Inc<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2071 y6243 wc36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Guernsey</div><div class=\"t m0 x2070 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">45<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x8a1 y6243 wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2064 y6243 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6244 wc37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors G<span class=\"_ _0\"></span>lobal Dy<span class=\"_ _0\"></span>namic Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2072 y6244 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2073 y6244 wc39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2074 y6244 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">8<span class=\"_ _0\"></span>3.31%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x246 hc y631a ff2 fs6 fc3 sc0 ls1 ws1\">Sp<span class=\"_ _0\"></span>ecial Limite<span class=\"_ _0\"></span>d </td><td></td></tr><tr><td class=\"c n x1d4 y5ae1 wc3a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Stone<span class=\"_ _0\"></span>peak Co<span class=\"_ _0\"></span>re F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d (Lux) SC<span class=\"_ _0\"></span>Sp<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2076 y5ae1 wc3b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2075 h11 y5b56 ff2 fs9 fc3 sc0 ls205 ws223\">41<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x204b y5ae1 wc14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Partn<span class=\"_ _0\"></span>ership<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2077 y5ae1 wc3c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">8<span class=\"_ _0\"></span>3.30%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y631b ff3 fs6 fc3 sc0 ls77 ws34\">Asso<span class=\"_ _0\"></span>ciates:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae4 wc3d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Future Grow<span class=\"_ _0\"></span>th Capit<span class=\"_ _0\"></span>al (Holdin<span class=\"_ _0\"></span>gs) Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x2079 y5ae4 wc3e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2078 h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5e18 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207a y5e18 wc3f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">49.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wc40 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Future Grow<span class=\"_ _0\"></span>th Capit<span class=\"_ _0\"></span>al Limited<span class=\"_ _3bd\"> </span></div></td><td class=\"c x207c y5ae5 wc41 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x207b h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1e3f y5ae5 wa88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ordin<span class=\"_ _0\"></span>ary S<span class=\"_ _0\"></span>hares<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207a y5ae5 wc3f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">49.90%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y631c ff3 fs6 fc3 sc0 lsd ws122\">Significant holdings:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b2a wc42 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">AB S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 D<span class=\"_ _0\"></span>iversifie<span class=\"_ _0\"></span>d Yield Plus Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1bef y5b2a wc43 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x207d h11 y5b9e ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5b2a wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x207e y5b2a wc45 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">4<span class=\"_ _0\"></span>3.09<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wc46 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">AB S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 S<span class=\"_ _0\"></span>ustain<span class=\"_ _0\"></span>able All Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2080 y5a16 wc47 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x207f h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a16 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y5a16 wc02 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">2<span class=\"_ _0\"></span>5.0<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wc48 h2c1\" id=\"_1cbf904f-d66d-4f29-b34d-978068b30aac\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y631d ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y631d ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y631e ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y631f ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y631f ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y631f ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y631f ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y6320 wc49 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Am<span class=\"_ _0\"></span>erican Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2083 y6320 wc4a h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2082 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6320 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6320 w74e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">5<span class=\"_ _0\"></span>6.43%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6321 wc4b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Am<span class=\"_ _0\"></span>erican Equit<span class=\"_ _0\"></span>y Enha<span class=\"_ _0\"></span>nced In<span class=\"_ _0\"></span>dex Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2059 y6321 wc20 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2058 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6321 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6321 wc4c h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls55 ws144\">33<span class=\"_ _0\"></span>.83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6322 wc4d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn As<span class=\"_ _0\"></span>ia Pacific Equit<span class=\"_ _0\"></span>y Enhanc<span class=\"_ _0\"></span>ed Inde<span class=\"_ _0\"></span>x F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2086 y6322 wc4e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2085 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6322 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6322 w74e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">32.<span class=\"_ _0\"></span>83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6323 wc4f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn As<span class=\"_ _0\"></span>ia Pacific Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2088 y6323 wc50 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2087 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6323 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y6323 w7d0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23.<span class=\"_ _0\"></span>80%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6324 wc51 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn D<span class=\"_ _0\"></span>ynamic Di<span class=\"_ _0\"></span>stributio<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208a y6324 wc52 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2089 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6324 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y6324 wc53 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">64<span class=\"_ _0\"></span>.83%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6325 wc54 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ethic<span class=\"_ _0\"></span>al Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y6325 wbf0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6325 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6325 wbea h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls15a ws163\">61.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6326 w344 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e ex UK Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y6326 wc04 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6326 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y6326 wc55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">20<span class=\"_ _0\"></span>.76%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6327 wc56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>e Ex UK I<span class=\"_ _0\"></span>ncome Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208c y6327 wc57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x208b h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6327 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6327 wc58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">3<span class=\"_ _0\"></span>5.41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6328 wc59 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>ean Equit<span class=\"_ _0\"></span>y Enhanc<span class=\"_ _0\"></span>ed Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x208f y6328 wc5a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x208e h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6328 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6328 wc5b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">22.40%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6329 wc5c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Europ<span class=\"_ _0\"></span>ean Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2031 y6329 wbf6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2030 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6329 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2090 y6329 wc5d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">20<span class=\"_ _2\"></span>.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632a wc5e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity Enh<span class=\"_ _0\"></span>anced I<span class=\"_ _0\"></span>ndex Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2092 y632a wc5f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2091 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632a wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632a wc60 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bd ws1d0\">23<span class=\"_ _0\"></span>.07<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632b wc61 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203b y632b wc01 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632b wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y632b wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.56<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632c wc63 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets Eq<span class=\"_ _0\"></span>uity T<span class=\"_ _2\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2094 y632c wc64 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2093 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632c wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632c w7d0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23.32<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632d wc65 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Governm<span class=\"_ _0\"></span>ent Bond T<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2096 y632d wc66 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2095 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632d wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y632d wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.2<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632e wc67 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Inflatio<span class=\"_ _0\"></span>n-Linked Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2098 y632e wc68 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2097 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632e wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2099 y632e wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y632f wc69 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Inflatio<span class=\"_ _0\"></span>n-Linked Bon<span class=\"_ _0\"></span>d T<span class=\"_ _4\"></span>rac<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>er Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x209b y632f wc6a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x209a h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y632f wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x209c y632f w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">5<span class=\"_ _0\"></span>9.63%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6330 wc6b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Infras<span class=\"_ _0\"></span>truct<span class=\"_ _0\"></span>ure Equity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x209e y6330 wc6c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x209d h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6330 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2022 y6330 wc29 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">54<span class=\"_ _0\"></span>.78%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6331 wc6d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Real E<span class=\"_ _0\"></span>state Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a0 y6331 wc6e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x209f h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6331 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20a1 y6331 wc6f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">3<span class=\"_ _0\"></span>6.80%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6332 wc70 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Gl<span class=\"_ _0\"></span>obal Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2029 y6332 wc71 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a2 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6333 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6333 w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">2<span class=\"_ _0\"></span>6.33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6334 wc72 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Hi<span class=\"_ _0\"></span>gh Yield Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a4 y6334 wc73 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a3 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6334 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y6334 w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">20.6<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6335 wc74 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ja<span class=\"_ _0\"></span>pan Equit<span class=\"_ _0\"></span>y Enhance<span class=\"_ _0\"></span>d Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a6 y6335 wc75 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don</div><div class=\"t m0 x20a5 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6335 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2090 y6335 wba8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws192\">4<span class=\"_ _0\"></span>6.0<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6336 wc76 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ja<span class=\"_ _0\"></span>panese Eq<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20a8 y6336 wc77 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a7 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6336 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6336 wc78 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ee wc79 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Liqui<span class=\"_ _0\"></span>dity Fund (Lu<span class=\"_ _0\"></span>x) \u2013 Euro Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20aa y62ee wc7a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20a9 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ee wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ab y62ee wc7b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">32.68%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6337 wc7c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Manag<span class=\"_ _0\"></span>ed IV Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ad y6337 wc7d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ac h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6337 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ae y6337 wc7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">6<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f1 wc7f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market I Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b0 y62f1 wc80 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20af h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f1 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2043 y62f1 wc81 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">4<span class=\"_ _0\"></span>4.42<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f2 wc82 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2061 y62f2 wc28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2060 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f2 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y62f2 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6338 wc83 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market III Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b2 y6338 wc84 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b1 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6338 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y6338 wc85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">58.67%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f4 wc86 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market IV Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b4 y62f4 wc87 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b3 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f4 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y62f4 wc88 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls147 ws152\">55<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>52%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f5 wc89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Market V Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b6 y62f5 wc8a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b5 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f5 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20b7 y62f5 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">60<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>51%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6339 wc8b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r II Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20b9 y6339 wc8c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20b8 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6339 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x208d y6339 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">4<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>7<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633a wc8e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r III Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20bb y633a wc8f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ba h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y633a wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y633a wc5d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">60<span class=\"_ _2\"></span>.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f8 wc90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r IV F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20be y62f8 wc91 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20bd h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f8 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y62f8 wbae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">6<span class=\"_ _0\"></span>0.88%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62f9 wc92 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn My<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>lio Multi-M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>r V F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c0 y62f9 wc93 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20bf h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62f9 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20b7 y62f9 wc94 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">4<span class=\"_ _0\"></span>0.<span class=\"_ _2\"></span>13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad3 wc95 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn N<span class=\"_ _0\"></span>orth Am<span class=\"_ _0\"></span>erican S<span class=\"_ _0\"></span>mall &amp; Mid-<span class=\"_ _0\"></span>Cap Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c2 y5ad3 wc96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20c1 h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5ad3 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202c y5ad3 wbfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">29.5<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad4 wc97 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>ated Cor<span class=\"_ _0\"></span>porate Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x203d y5ad4 wc04 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5ad4 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20bc y5ad4 wbea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">43.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fc wc98 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>hort D<span class=\"_ _0\"></span>uration Glo<span class=\"_ _0\"></span>bal Inflatio<span class=\"_ _0\"></span>n-Linked Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c4 y62fc wc99 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20c3 h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y62fc wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2039 y62fc wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">26<span class=\"_ _0\"></span>.37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62fd wc9a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Diver<span class=\"_ _0\"></span>sified Inc<span class=\"_ _0\"></span>ome Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c6 y62fd wc9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20c5 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62fd wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y62fd wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">32.42<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad7 wc9c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Emerg<span class=\"_ _0\"></span>ing Markets Low V<span class=\"_ _2\"></span>ola<span class=\"_ _0\"></span>tility Equit<span class=\"_ _0\"></span>y Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20c9 y5ad7 wc9d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20c8 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ad7 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ca y5ad7 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ad8 wc9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Europe E<span class=\"_ _0\"></span>x UK Su<span class=\"_ _0\"></span>staina<span class=\"_ _0\"></span>ble Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20cc y5ad8 wc9f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20cb h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ad8 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5ad8 wca0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">67<span class=\"_ _4\"></span>.4<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6300 wca1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 GD<span class=\"_ _0\"></span>P W<span class=\"_ _2\"></span>eig<span class=\"_ _0\"></span>hted Globa<span class=\"_ _0\"></span>l Government B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20cf y6300 wca2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20ce h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6300 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d0 y6300 wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">73<span class=\"_ _0\"></span>.72%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633b wca4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d2 y633b wca5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20d1 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633b wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y633b wca6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">99.<span class=\"_ _0\"></span>87%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ada wca7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Corpor<span class=\"_ _0\"></span>ate Sust<span class=\"_ _0\"></span>ainable B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d5 y5ada wca8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20d4 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ada wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y5ada wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">42.02<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5adb wca9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Glob<span class=\"_ _0\"></span>al Government B<span class=\"_ _0\"></span>ond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20d8 y5adb wcaa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x20d7 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5adb wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y5adb wcab h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">76<span class=\"_ _0\"></span>.6<span class=\"_ _0\"></span>4%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ab wcac h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Japan<span class=\"_ _0\"></span>ese Su<span class=\"_ _0\"></span>staina<span class=\"_ _0\"></span>ble Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20da y62ab wcad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ab wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y62ab wcae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsc wsb\">26<span class=\"_ _0\"></span>.29%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633c wcaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Nor<span class=\"_ _0\"></span>th Ameri<span class=\"_ _0\"></span>can Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20dc y633c wcb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x20db h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633c wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y633c wc02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">23<span class=\"_ _0\"></span>.4<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633d wcb1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V I \u2013 Sho<span class=\"_ _0\"></span>rt Date<span class=\"_ _0\"></span>d Enhanc<span class=\"_ _0\"></span>ed Incom<span class=\"_ _0\"></span>e Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20de y633d wcb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20dd h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633d wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y633d wcb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">24<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ade wcb4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Equit<span class=\"_ _0\"></span>y Impac<span class=\"_ _0\"></span>t F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1086 y5ade wcb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x20df h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ade wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y5ade wcb6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">71<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wcb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Inflatio<span class=\"_ _0\"></span>n-link<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>d Governme<span class=\"_ _0\"></span>nt Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e1 y62ae wcb8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20e0 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y62ae wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y62ae w747 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls20 ws22\">62.52%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae0 wcb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II \u2013 Glo<span class=\"_ _0\"></span>bal Sho<span class=\"_ _0\"></span>rt Dur<span class=\"_ _0\"></span>ation Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e3 y5ae0 wcba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e2 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae0 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d3 y5ae0 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">83.<span class=\"_ _0\"></span>23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633e wcbb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Abs<span class=\"_ _0\"></span>olute Return G<span class=\"_ _0\"></span>lobal Bon<span class=\"_ _0\"></span>d Strategie<span class=\"_ _0\"></span>s Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x148b y633e wcbc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e4 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y633e wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y633e wbf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">92.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae1 wcbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Eme<span class=\"_ _0\"></span>rging Market Loc<span class=\"_ _0\"></span>al Currenc<span class=\"_ _0\"></span>y Debt Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e6 y5ae1 wcbe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20e5 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae1 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5ae1 wcbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls77 ws34\">73<span class=\"_ _0\"></span>.27%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae2 wcc0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Corp<span class=\"_ _0\"></span>orate Bond Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20e8 y5ae2 wcc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x20e7 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae2 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2081 y5ae2 wbfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">28.9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae3 wcc2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Small<span class=\"_ _0\"></span>er Compa<span class=\"_ _0\"></span>nies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20dc y5ae3 wcb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20db h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae3 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20c7 y5ae3 wc85 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls5f ws122\">25.67%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae4 wcc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal Corp<span class=\"_ _0\"></span>orate Bon<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ea y5ae4 wcc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20e9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae4 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20eb y5ae4 wba8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">5<span class=\"_ _0\"></span>6.<span class=\"_ _0\"></span>04%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae5 wcc5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal High Yie<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20da y5ae5 wcad h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20d9 h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae5 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20d6 y5ae5 wba8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">5<span class=\"_ _0\"></span>6.<span class=\"_ _0\"></span>34%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a13 wcc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Glo<span class=\"_ _0\"></span>bal Real E<span class=\"_ _0\"></span>state S<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s Sust<span class=\"_ _0\"></span>ainable Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ed y5a13 wcc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20ec h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a13 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ca y5a13 wc8d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls201 ws21f\">8<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5ae6 wcc8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard Liquid<span class=\"_ _0\"></span>ity Fund (Lux<span class=\"_ _0\"></span>) Sterling Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ea y5ae6 wcc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g</div><div class=\"t m0 x20e9 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ae6 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2057 y5ae6 wcc9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls8e ws87\">24<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wcca h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn St<span class=\"_ _0\"></span>andard S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V I \u2013 C<span class=\"_ _0\"></span>hina Onsh<span class=\"_ _0\"></span>ore Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20ef y5a15 wccb h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x20ee h11 y5b9e ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a15 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20cd y5a15 wca6 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls56 ws53\">78<span class=\"_ _0\"></span>.87%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wccc h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Ster<span class=\"_ _0\"></span>ling Corp<span class=\"_ _0\"></span>orate Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x202b y5a16 wbf0 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x202a h11 y5b9e ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y5a16 wb9b h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ae y5a16 wc17 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">46<span class=\"_ _0\"></span>.31%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wccd h2c2\" id=\"_33f2d3fd-f0a3-4a78-9c51-eaddcff688ba\"><tr><td></td><td></td><td class=\"t m0 x1f9b h29 y633f ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 xd04 h29 y633f ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1251 h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x1f9c h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x1f9d h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x941 h29 y6340 ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x6bc h29 y6341 ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1f9e h29 y6341 ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x3be h29 y6341 ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x2f8 h29 y6341 ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x28d y6342 wcce h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn Str<span class=\"_ _0\"></span>ategic Bo<span class=\"_ _0\"></span>nd Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f1 y6342 wccf h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20f0 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6342 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fca y6342 wbe7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">6<span class=\"_ _1\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6343 wcd0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Equity Enh<span class=\"_ _0\"></span>ance<span class=\"_ _0\"></span>d Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f3 y6343 wcd1 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20f2 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6343 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f4 y6343 wcd2 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">29.23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6344 wcd3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Incom<span class=\"_ _0\"></span>e E<span class=\"_ _2\"></span>q<span class=\"_ _0\"></span>uity Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f5 y6344 wc68 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2097 h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6344 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f6 y6344 w428 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls170 ws142\">36.05%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6345 wcd4 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Mid-<span class=\"_ _0\"></span>Cap Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f7 y6345 wc73 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20a3 h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6345 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f8 y6345 wc6f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">3<span class=\"_ _0\"></span>4.50%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6346 wcd5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Smaller C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20f9 y6346 wc80 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20af h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6346 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6346 wcd6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">32.02%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6347 wcd7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K Sust<span class=\"_ _0\"></span>ainable an<span class=\"_ _0\"></span>d Respon<span class=\"_ _0\"></span>sible Investm<span class=\"_ _0\"></span>ent Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20fb y6347 wcd8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20fa h11 y5b82 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6347 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20fc y6347 wbae h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">4<span class=\"_ _0\"></span>0.68%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6348 wcd9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">abrdn U<span class=\"_ _0\"></span>K V<span class=\"_ _4\"></span>a<span class=\"_ _0\"></span>lue Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x20fe y6348 wcda h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20fd h11 y5a78 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6348 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6348 w3dc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls16e ws17d\">45.<span class=\"_ _0\"></span>83<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6349 wcdb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">ACS World Multifa<span class=\"_ _0\"></span>ctor Equit<span class=\"_ _0\"></span>y T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2100 y6349 wcdc h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x20ff h11 y5a78 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6349 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbb y6349 wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.56<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634a wcdd h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di Global C<span class=\"_ _0\"></span>orp SRI 1<span class=\"_ _0\"></span>-5Y<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2101 y634a wcde h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lux<span class=\"_ _0\"></span>emb<span class=\"_ _0\"></span>ou<span class=\"_ _0\"></span>rg\u00b2\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2102 y634a wcdf h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _4\"></span>V, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2103 y634a w74e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lse wse\">32.<span class=\"_ _0\"></span>53%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y634b ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i Index Sol<span class=\"_ _0\"></span>utions \u2013 Amun<span class=\"_ _0\"></span>di MSCI Em<span class=\"_ _0\"></span>erging </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y634c wce0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">E<span class=\"_ _0\"></span>x China ESG Lea<span class=\"_ _0\"></span>ders S<span class=\"_ _0\"></span>elect<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x128c y634c wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2104 y634c wbe3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V<span class=\"_ _2\"></span>, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2105 y634c wce1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls130 ws135\">43.9<span class=\"_ _0\"></span>6%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634d wce2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Amund<span class=\"_ _0\"></span>i UCITS Funds \u2013 A<span class=\"_ _0\"></span>mundi Glob<span class=\"_ _0\"></span>al Multi-Fa<span class=\"_ _0\"></span>ctor Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2106 y634d wbe2 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls69 ws18a\">Lu<span class=\"_ _0\"></span>xem<span class=\"_ _0\"></span>bo<span class=\"_ _0\"></span>urg\u00b2<span class=\"_ _0\"></span>\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2107 y634d wce3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UCI<span class=\"_ _0\"></span>TS, sub f<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2108 y634d wca3 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">72.<span class=\"_ _0\"></span>37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y634e wce4 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">AQR Glob<span class=\"_ _0\"></span>al Risk Premium U<span class=\"_ _0\"></span>CITS Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x210a y634e wce5 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x2109 h11 y5a78 ff2 fs9 fc3 sc0 ls1fb ws219\">40<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y634e wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210b y634e w687 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y634f wce6 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford Emerg<span class=\"_ _0\"></span>ing Markets Lea<span class=\"_ _0\"></span>ding Comp<span class=\"_ _0\"></span>anies Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x1ddd y634f wce7 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edin<span class=\"_ _0\"></span>burgh\u00b3<span class=\"_ _0\"></span>\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210c y634f wc39 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x6d2 y634f wac0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">32.50<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6350 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford Inves<span class=\"_ _0\"></span>tment Funds II I<span class=\"_ _0\"></span>CV<span class=\"_ _2\"></span>C \u2013 </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6351 wce8 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford UK Equi<span class=\"_ _0\"></span>ty Co<span class=\"_ _0\"></span>re F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x210d y6351 wce9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b3\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210e y6351 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x210f y6351 wcea h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">42.73%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6352 ff2 fs6 fc3 sc0 ls17f ws1\">Baillie Gif<span class=\"_ _0\"></span>ford UK &amp; B<span class=\"_ _0\"></span>alance<span class=\"_ _0\"></span>d F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds ICVC \u2013 Baillie </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6353 wceb h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Gif<span class=\"_ _0\"></span>ford UK and Worldw<span class=\"_ _0\"></span>ide Equit<span class=\"_ _0\"></span>y F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2110 y6353 wce9 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburgh<span class=\"_ _0\"></span>\u00b3\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2111 y6353 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b09 y6353 w7d0 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">3<span class=\"_ _0\"></span>0.23%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6354 wcec h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Barin<span class=\"_ _0\"></span>gs Emergin<span class=\"_ _0\"></span>g Markets De<span class=\"_ _0\"></span>bt Shor<span class=\"_ _0\"></span>t Duratio<span class=\"_ _0\"></span>n F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2113 y6354 wced h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin</div><div class=\"t m0 x2112 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6355 wb9b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2114 y6355 wc58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls81 ws14c\">28<span class=\"_ _0\"></span>.41%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6356 wcee h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Ca<span class=\"_ _0\"></span>sh Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2115 y6356 wcef h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2035 h11 y5b82 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y6356 wb9e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2116 y6356 wc62 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.86<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6357 wcf0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Glo<span class=\"_ _0\"></span>bal Funds \u2013 Sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le W<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2118 y6357 wcf1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Lu<span class=\"_ _0\"></span>xembo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2117 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">15<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6357 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2119 y6357 wcf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">25.48%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6358 wcf3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et Adva<span class=\"_ _0\"></span>ntage Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x211b y6358 wcf4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x211a h11 y5b56 ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6358 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x211c y6358 wc78 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.4<span class=\"_ _0\"></span>0%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6359 wcf5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Blac<span class=\"_ _0\"></span>kRock UK A<span class=\"_ _0\"></span>bsolute Alph<span class=\"_ _0\"></span>a F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x211d y6359 wcf6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x203c h11 y5b9e ff2 fs9 fc3 sc0 ls200 ws21e\">20<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y6359 wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x211e y6359 wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">2<span class=\"_ _0\"></span>0.1<span class=\"_ _0\"></span>8%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635a w4af h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">BNY M<span class=\"_ _0\"></span>ellon Glob<span class=\"_ _0\"></span>al Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x211f y635a wcf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b3\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2120 y635a wcf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>EIC, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2121 y635a wbea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">28.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635b wcf9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">BNY M<span class=\"_ _0\"></span>ellon Multi-As<span class=\"_ _0\"></span>set Glob<span class=\"_ _0\"></span>al Balan<span class=\"_ _0\"></span>ced Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2122 y635b wcf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b3\u00b3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2123 y635b wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2124 y635b wcfa h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">37<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>37%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635c wcfb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Brent Cro<span class=\"_ _0\"></span>ss Par<span class=\"_ _0\"></span>tnership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2126 y635c wcfc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2125 h11 y5b56 ff2 fs9 fc3 sc0 ls207 ws225\">24<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x944 y635c wb89 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Limited Par<span class=\"_ _0\"></span>tner<span class=\"_ _0\"></span>ship<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2127 y635c w13e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.8<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635d wa90 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Fide<span class=\"_ _0\"></span>lity M<span class=\"_ _0\"></span>ulti Asse<span class=\"_ _0\"></span>t Open Advent<span class=\"_ _0\"></span>urous Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2129 y635d wcfd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">S<span class=\"_ _0\"></span>urrey</div><div class=\"t m0 x2128 h11 y5b9e ff2 fs9 fc3 sc0 ls200 ws21e\">28<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y635d wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x212a y635d wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">40<span class=\"_ _0\"></span>.78%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635e wcfe h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Gallion<span class=\"_ _0\"></span>s Reach S<span class=\"_ _0\"></span>hopping Park Lim<span class=\"_ _0\"></span>ited Part<span class=\"_ _0\"></span>nership<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x212c y635e wcff h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x212b h11 y5b56 ff2 fs9 fc3 sc0 ls1ed ws20b\">36<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y635e wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y635e w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y635f wd00 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Gallion<span class=\"_ _0\"></span>s Reach S<span class=\"_ _0\"></span>hopping Park U<span class=\"_ _0\"></span>nit T<span class=\"_ _4\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x212e y635f wd01 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x212d h11 y5b56 ff2 fs9 fc3 sc0 ls208 ws226\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y635f wb9e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc0 y635f w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100<span class=\"_ _2\"></span>.00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6360 wd02 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Goldm<span class=\"_ _0\"></span>an Sach<span class=\"_ _0\"></span>s SICA<span class=\"_ _2\"></span>V \u2013 Em<span class=\"_ _0\"></span>erging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s T<span class=\"_ _4\"></span>otal Ret<span class=\"_ _0\"></span>urn Bond Por<span class=\"_ _0\"></span>tfolio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2130 y6360 wd03 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x212f h11 y5b9e ff2 fs9 fc3 sc0 ls209 ws227\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6360 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2131 y6360 wc29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">86<span class=\"_ _0\"></span>.71%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y6361 ff2 fs6 fc3 sc0 ls17f ws1\">Goldm<span class=\"_ _0\"></span>an Sach<span class=\"_ _0\"></span>s SICA<span class=\"_ _2\"></span>V \u2013 G<span class=\"_ _0\"></span>oldman Sa<span class=\"_ _0\"></span>chs </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y6362 wd04 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Emerg<span class=\"_ _0\"></span>ing Markets D<span class=\"_ _0\"></span>ebt Port<span class=\"_ _0\"></span>folio<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2133 y6362 wd05 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbo<span class=\"_ _0\"></span>urg</div><div class=\"t m0 x2132 h11 y5b56 ff2 fs9 fc3 sc0 ls209 ws227\">29<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6363 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2134 y6363 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23<span class=\"_ _0\"></span>.81%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6364 wd06 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Invesc<span class=\"_ _0\"></span>o Manag<span class=\"_ _0\"></span>ed Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1516 y6364 wd07 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Ox<span class=\"_ _0\"></span>fordshire</div><div class=\"t m0 x2135 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">30<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6364 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2136 y6364 wd08 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">51<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6365 wd09 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson All Stoc<span class=\"_ _0\"></span>ks Credit Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2138 y6365 wd0a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2137 h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6365 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2139 y6365 wc24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls95 ws8e\">2<span class=\"_ _0\"></span>5.1<span class=\"_ _0\"></span>7%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6366 wd0b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Diver<span class=\"_ _0\"></span>sified Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213b y6366 wd0c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>ondon</div><div class=\"t m0 x213a h11 y5b9e ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6366 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fc7 y6366 wac0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">65<span class=\"_ _0\"></span>.06%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6367 wd0d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Eme<span class=\"_ _0\"></span>rging Markets O<span class=\"_ _0\"></span>ppor<span class=\"_ _0\"></span>tunities Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x1fc4 y6367 wba5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x1fc3 h11 y5b9e ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6367 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20f8 y6367 w451 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15a ws163\">23.90<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6368 wd0e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws14\">Janus Hender<span class=\"_ _0\"></span>son Institutional Global Responsible Manag<span class=\"_ _0\"></span>ed F<span class=\"_ _2\"></span>und<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213d y6368 wd0f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x213c h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y6368 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x212a y6368 wd10 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">2<span class=\"_ _0\"></span>9.<span class=\"_ _0\"></span>35%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y62a8 wd11 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Janu<span class=\"_ _0\"></span>s Hende<span class=\"_ _0\"></span>rson Ins<span class=\"_ _0\"></span>titution<span class=\"_ _0\"></span>al UK Inde<span class=\"_ _0\"></span>x Oppor<span class=\"_ _0\"></span>tunities Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x213f y62a8 wd12 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x213e h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">14<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62a8 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2136 y62a8 wd13 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">57<span class=\"_ _2\"></span>.53%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6369 wd14 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G A<span class=\"_ _0\"></span>bsolute Retur<span class=\"_ _0\"></span>n Bond Plus Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2140 y6369 wd15 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">Lu<span class=\"_ _0\"></span>xe<span class=\"_ _0\"></span>m<span class=\"_ _0\"></span>b<span class=\"_ _0\"></span>ou<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>g\u00b3\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2141 y6369 wd16 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2142 y6369 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">49.<span class=\"_ _0\"></span>33%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6314 wd17 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G Em<span class=\"_ _0\"></span>erging Ma<span class=\"_ _0\"></span>rk<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2143 y6314 wd18 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">L<span class=\"_ _0\"></span>ux<span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>mb<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>ur<span class=\"_ _0\"></span>g\u00b3<span class=\"_ _0\"></span>\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2144 y6314 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2145 y6314 wd19 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls85 ws88\">74<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>74<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6316 wd1a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L&amp;G M<span class=\"_ _0\"></span>ulti-Asset T<span class=\"_ _2\"></span>arg<span class=\"_ _0\"></span>et Return Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2147 y6316 wd1b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x2146 h11 y5b56 ff2 fs9 fc3 sc0 ls20a ws228\">38<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y6316 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2148 y6316 wd1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.<span class=\"_ _0\"></span>81%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y6317 wd1d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Active Sterlin<span class=\"_ _0\"></span>g Corpor<span class=\"_ _0\"></span>ate Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2149 y6317 wd1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214a y6317 wbc3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">U<span class=\"_ _0\"></span>nit<span class=\"_ _2\"></span> T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x5ea y6317 wd1f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.9<span class=\"_ _0\"></span>9%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x28c hc y636a ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Emerging M<span class=\"_ _0\"></span>arkets Governm<span class=\"_ _0\"></span>ent </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x28d y633d wd20 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Bon<span class=\"_ _0\"></span>d (Local Cur<span class=\"_ _0\"></span>rency) Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x214b y633d wd1e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214c y633d wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214d y633d wd21 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws192\">20.<span class=\"_ _0\"></span>34%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ade wd22 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al Emerging M<span class=\"_ _0\"></span>arkets Governm<span class=\"_ _0\"></span>ent Bond U<span class=\"_ _0\"></span>SD Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x214e y5ade wd23 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London<span class=\"_ _2\"></span>\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x214f y5ade wbb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2150 y5ade wca3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17 ws18\">32.<span class=\"_ _0\"></span>42%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62ae wd24 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al High Inc<span class=\"_ _0\"></span>ome T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2151 y62ae wd25 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">L<span class=\"_ _2\"></span>on<span class=\"_ _0\"></span>don<span class=\"_ _2\"></span>\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2152 y62ae wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2153 y62ae wc58 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls81 ws14c\">41<span class=\"_ _0\"></span>.01%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y62af wd26 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Leg<span class=\"_ _0\"></span>al &amp; Gener<span class=\"_ _0\"></span>al UK Sma<span class=\"_ _0\"></span>ller Comp<span class=\"_ _0\"></span>anies T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2154 y62af wc32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b9<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2155 y62af wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2156 y62af wd27 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">3<span class=\"_ _2\"></span>1.39%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y633e wd28 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Ninet<span class=\"_ _0\"></span>y One Fun<span class=\"_ _0\"></span>ds Series i G<span class=\"_ _0\"></span>lobal Ma<span class=\"_ _0\"></span>cro Alloc<span class=\"_ _0\"></span>ation Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2158 y633e wd29 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2157 h11 y5b56 ff2 fs9 fc3 sc0 ls1f9 ws217\">54<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fba y62b0 wb9b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2159 y62b0 w7d0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1a ws1b\">23.23<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae1 wd2a h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">L<span class=\"_ _2\"></span>G<span class=\"_ _0\"></span>IM Sterling Liq<span class=\"_ _0\"></span>uidity Plu<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x215b y5ae1 wd2b h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x215a h11 y5b56 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5ae1 wc1c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215c y5ae1 wc7e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls69 ws18a\">2<span class=\"_ _0\"></span>1.<span class=\"_ _0\"></span>51<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e14 wd2c h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors Cir<span class=\"_ _0\"></span>ilium Balanc<span class=\"_ _0\"></span>ed Blen<span class=\"_ _0\"></span>d P<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>tfoli<span class=\"_ _0\"></span>o<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x215d y5e14 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215e y5e14 wc39 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">OEIC<span class=\"_ _0\"></span>, sub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x215f y5e14 w74e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">35.6<span class=\"_ _0\"></span>3%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5e15 wd2d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors Eth<span class=\"_ _0\"></span>ical Equit<span class=\"_ _0\"></span>y Fund\ue01e<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2020 y5e15 wc38 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2160 y5e15 wbba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _2\"></span>rust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2161 y5e15 wd2e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">3<span class=\"_ _0\"></span>4.75%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae4 wd2f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Quilte<span class=\"_ _0\"></span>r Investors G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Grow<span class=\"_ _0\"></span>th Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2162 y5ae4 wd30 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London\u00b2\u00b2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2163 y5ae4 wcf8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">O<span class=\"_ _0\"></span>EIC, sub f<span class=\"_ _0\"></span>und<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2164 y5ae4 wbf7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">54.89%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5ae5 wd31 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Resp<span class=\"_ _0\"></span>onsible Gl<span class=\"_ _0\"></span>obal High Yie<span class=\"_ _0\"></span>ld Bond Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2166 y5ae5 wd32 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg</div><div class=\"t m0 x2165 h11 y5b56 ff2 fs9 fc3 sc0 ls1f1 ws210\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5ae5 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2119 y5ae5 wcf2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls14 ws1e\">25.38%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b29 wd33 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Robe<span class=\"_ _0\"></span>co \u2013 Phoe<span class=\"_ _0\"></span>nix Custom<span class=\"_ _0\"></span>i<span class=\"_ _2\"></span>zed M<span class=\"_ _0\"></span>ulti Ass<span class=\"_ _0\"></span>et Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2168 y5b29 wd34 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12b ws3c\">Rot<span class=\"_ _0\"></span>terdam</div><div class=\"t m0 x2167 h11 y5b9e ff2 fs9 fc3 sc0 ls20b ws229\">39<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5b29 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2169 y5b29 wd35 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">98.88<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5b06 wd36 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Robe<span class=\"_ _0\"></span>co QI Eme<span class=\"_ _0\"></span>rging Mar<span class=\"_ _0\"></span>k<span class=\"_ _2\"></span>ets S<span class=\"_ _0\"></span>usta<span class=\"_ _0\"></span>inable Enha<span class=\"_ _0\"></span>nced In<span class=\"_ _0\"></span>dex Equities I<span class=\"_ _0\"></span>I<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x216b y5b06 wd37 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxemb<span class=\"_ _0\"></span>ourg</div><div class=\"t m0 x216a h11 y5b9e ff2 fs9 fc3 sc0 ls206 ws224\">37<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5b06 wc44 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x216c y5b06 w687 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls19b ws1af\">100.<span class=\"_ _2\"></span>00%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a15 wd38 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder Europe<span class=\"_ _0\"></span>an Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x216e y5a15 wd39 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x216d h11 y5b56 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fbc y5a15 wb9e h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x216f y5a15 wc53 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lse wse\">56<span class=\"_ _0\"></span>.43%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x28d y5a16 wd3a h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder Inter<span class=\"_ _0\"></span>national S<span class=\"_ _0\"></span>elec<span class=\"_ _0\"></span>tion Fund \u2013 Globa<span class=\"_ _0\"></span>l Diversifie<span class=\"_ _0\"></span>d Growth<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2171 y5a16 wd3b h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls37 wsc8\">Luxem<span class=\"_ _0\"></span>bourg</div><div class=\"t m0 x2170 h11 y5b56 ff2 fs9 fc3 sc0 ls204 ws222\">43<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1fa4 y5a16 wc44 h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">SI<span class=\"_ _0\"></span>CA<span class=\"_ _4\"></span>V<span class=\"_ _2\"></span>, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2169 y5a16 wc6f h20d\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">25<span class=\"_ _0\"></span>.69%<span class=\"_ _3bd\"> </span></div></td></tr></table><table class=\"s wd3c h2c3\" id=\"_10e1de82-3d47-47ad-98f5-2a3b0fc7f19f\"><tr><td></td><td></td><td class=\"t m0 x1e33 h29 y636b ff3 fs5 fc3 sc0 ls1 ws1\">If un<span class=\"_ _0\"></span>inco<span class=\"_ _0\"></span>rpor<span class=\"_ _0\"></span>ated<span class=\"_ _0\"></span>, </td><td class=\"t m0 x7c6 h29 y636b ff3 fs5 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>pe of inve<span class=\"_ _0\"></span>stm<span class=\"_ _0\"></span>ent </td><td></td></tr><tr><td></td><td class=\"t m0 x1e34 h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">Re<span class=\"_ _0\"></span>gist<span class=\"_ _0\"></span>ered a<span class=\"_ _0\"></span>ddre<span class=\"_ _0\"></span>ss of </td><td class=\"t m0 x57c h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">ad<span class=\"_ _0\"></span>dres<span class=\"_ _0\"></span>s of prin<span class=\"_ _0\"></span>cipa<span class=\"_ _0\"></span>l </td><td class=\"t m0 x53f h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">(in<span class=\"_ _0\"></span>clud<span class=\"_ _0\"></span>ing<span class=\"_ gs348\"> </span>cl<span class=\"_ _0\"></span>ass of <span class=\"_ _3\"></span> </td><td class=\"t m0 x1e35 h29 y636c ff3 fs5 fc3 sc0 ls1 ws1\">% of sh<span class=\"_ _0\"></span>ares<span class=\"_ _0\"></span>/ </td></tr><tr><td></td><td class=\"t m0 x67b h29 y636d ff3 fs5 fc3 sc0 ls22 ws24\">incorpor<span class=\"_ _0\"></span>ated entities<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xb00 h29 y636d ff3 fs5 fc3 sc0 ls8d ws86\">place of business<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x7c7 h29 y636d ff3 fs5 fc3 sc0 lsbe wsbe\">shares held)<span class=\"_ _3bd\"> </span></td><td class=\"t m0 xaff h29 y636d ff3 fs5 fc3 sc0 lsbe wsbe\">units held<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y636e wd3d h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sc<span class=\"_ _0\"></span>hroder U<span class=\"_ _0\"></span>K Mid 250 Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2173 y636e wd3e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x2172 h11 y5a78 ff2 fs9 fc3 sc0 ls206 ws224\">42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y636e wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2174 y636e wbe7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">2<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>3<span class=\"_ _1\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y636f wd3f h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Investm<span class=\"_ _0\"></span>ents Brent C<span class=\"_ _0\"></span>ross LP<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2176 y636f wd40 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Edinburg<span class=\"_ _0\"></span>h</div><div class=\"t m0 x2175 h11 y5a78 ff2 fs9 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y636f wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y636f wd41 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6370 wd42 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Stan<span class=\"_ _0\"></span>dard Life Investm<span class=\"_ _0\"></span>ents UK S<span class=\"_ _0\"></span>hopping C<span class=\"_ _0\"></span>entre T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2178 y6370 wd43 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Jersey</div><div class=\"t m0 x2177 h11 y5b82 ff2 fs9 fc3 sc0 ls20c ws22a\">25<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6370 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x202f y6370 wd41 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb6 wsb4\">40.13%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6371 wd44 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">The M<span class=\"_ _0\"></span>arks and Sp<span class=\"_ _0\"></span>encer World<span class=\"_ _0\"></span>wide Mana<span class=\"_ _0\"></span>ged Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217a y6371 wd45 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls12 ws13\">Chest<span class=\"_ _2\"></span>er</div><div class=\"t m0 x2179 h11 y5b82 ff2 fs9 fc3 sc0 ls20b ws229\">48<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x66b y6371 wb9e h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsd wsd\">Unit T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2032 y6371 wca3 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17 ws18\">30<span class=\"_ _0\"></span>.42%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y6372 wd46 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Threa<span class=\"_ _0\"></span>dnee<span class=\"_ _0\"></span>dle Investme<span class=\"_ _0\"></span>nt F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>ds ICV<span class=\"_ _2\"></span>C \u2013 Am<span class=\"_ _0\"></span>erican S<span class=\"_ _0\"></span>elec<span class=\"_ _0\"></span>t Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217c y6372 wd47 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">London</div><div class=\"t m0 x217b h11 y5a78 ff2 fs9 fc3 sc0 ls20d ws22b\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2021 y6372 wb9b h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">OEI<span class=\"_ _0\"></span>C, sub fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2084 y6372 wcd6 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls13 ws14\">20.32%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6373 ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Comm<span class=\"_ _0\"></span>on<span class=\"_ _2\"></span> C<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>actual Fu<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span>d<span class=\"_ _2\"></span> \u2013 V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6374 wd48 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">U.<span class=\"_ _0\"></span>S. Equit<span class=\"_ _0\"></span>y Index C<span class=\"_ _0\"></span>ommon C<span class=\"_ _0\"></span>ontract<span class=\"_ _0\"></span>ual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x217e y6374 wd49 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x217d h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6374 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x217f y6374 wd4a h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1bf ws1d3\">77<span class=\"_ _2\"></span>.40%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6375 ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard Inves<span class=\"_ _0\"></span>tment Se<span class=\"_ _0\"></span>ries plc \u2013 V<span class=\"_ _2\"></span>an<span class=\"_ _0\"></span>guard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6376 wd4b h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws14\">Global Corporate Bond Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2181 y6376 wd4c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2180 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y6377 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2182 y6377 wd4d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls20e ws22c\">38.21<span class=\"_ _2\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y6378 ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investment Series plc \u2013 V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard<span class=\"_ _2\"></span> Glob<span class=\"_ _0\"></span>al </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y6379 wd4e h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">Sho<span class=\"_ _0\"></span>rt-<span class=\"_ _4\"></span>T<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>m Corpor<span class=\"_ _0\"></span>ate Bond Ind<span class=\"_ _0\"></span>ex F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2184 y6379 wd4f h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x2183 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y637a wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2185 y637a wd50 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">41.<span class=\"_ _0\"></span>55%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c x1d4 y637b wd51 h202\"><div class=\"t m0 x1cf hc y5a7e ff2 fs6 fc3 sc0 ls17f ws1\">V<span class=\"_ _2\"></span>ang<span class=\"_ _0\"></span>uard Inves<span class=\"_ _0\"></span>tment Se<span class=\"_ _0\"></span>ries plc \u2013 V<span class=\"_ _2\"></span>an<span class=\"_ _0\"></span>guard U.<span class=\"_ _0\"></span>K. Sh<span class=\"_ _0\"></span>ort-<span class=\"_ _3bd\"> </span></div><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">T<span class=\"_ _4\"></span>e<span class=\"_ _0\"></span>rm Investm<span class=\"_ _0\"></span>ent Grade B<span class=\"_ _0\"></span>ond Index Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2187 y637b wd52 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2186 h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y637b wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20ab y637b wc02 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c4 ws1dc\">42<span class=\"_ _0\"></span>.8<span class=\"_ _0\"></span>5%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637c ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce4 wd53 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped Europ<span class=\"_ _0\"></span>e ex UK Comm<span class=\"_ _0\"></span>on Contra<span class=\"_ _0\"></span>ctual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x2189 y5ce4 wd54 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dublin</div><div class=\"t m0 x2188 h11 y5b82 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5ce4 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x218a y5ce4 wc8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637d ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ce6 wd55 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped World C<span class=\"_ _0\"></span>ommon Co<span class=\"_ _0\"></span>ntract<span class=\"_ _0\"></span>ual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x218c y5ce6 wd56 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">D<span class=\"_ _0\"></span>ublin</div><div class=\"t m0 x218b h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5c3a wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x218d y5c3a wc24 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls95 ws8e\">4<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>.12%<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y637e ff2 fs6 fc3 sc0 ls1 ws14\">V<span class=\"_ _2\"></span>anguard Investments C<span class=\"_ _0\"></span>ommon Contractual Fund \u2013 V<span class=\"_ _4\"></span>ang<span class=\"_ _0\"></span>uard </td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wd57 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls17f ws1\">F<span class=\"_ _0\"></span>TSE Devel<span class=\"_ _0\"></span>oped World ex U<span class=\"_ _0\"></span>K Commo<span class=\"_ _0\"></span>n Contrac<span class=\"_ _0\"></span>tual Fund<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c x218f y5a16 wd58 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">Dub<span class=\"_ _0\"></span>lin</div><div class=\"t m0 x218e h11 y5a78 ff2 fs9 fc3 sc0 ls1fe ws21c\">27<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1e3f y5a16 wc1c h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">UC<span class=\"_ _0\"></span>ITS, s<span class=\"_ _0\"></span>ub fund<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x217f y5a16 wc8d h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls201 ws21f\">9<span class=\"_ _0\"></span>7.<span class=\"_ _0\"></span>0<span class=\"_ _0\"></span>4<span class=\"_ _0\"></span>%<span class=\"_ _3bd\"> </span></div></td></tr></table>1<span class=\"fc3\"> <span class=\"_ _118\"> </span></span>Wyt<span class=\"_ _0\"></span>hall G<span class=\"_ _0\"></span>reen Way, Wy<span class=\"_ _0\"></span>tha<span class=\"_ _0\"></span>ll, Bir<span class=\"_ _0\"></span>mingh<span class=\"_ _0\"></span>am, We<span class=\"_ _0\"></span>st Mid<span class=\"_ _0\"></span>lands<span class=\"_ _0\"></span>, B47 6<span class=\"_ _0\"></span>WG, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span>2 <span class=\"_ _f4\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>tand<span class=\"_ _0\"></span>ard Life H<span class=\"_ _0\"></span>ous<span class=\"_ _0\"></span>e, 30 Lot<span class=\"_ _0\"></span>hian Ro<span class=\"_ _0\"></span>ad, Edi<span class=\"_ _0\"></span>nburg<span class=\"_ _0\"></span>h, EH1 2<span class=\"_ _0\"></span>DH<span class=\"_ _0\"></span>, Unite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>3 <span class=\"_ _f4\"> </span><span class=\"fc8\">9<span class=\"_ _0\"></span>0 St. S<span class=\"_ _0\"></span>tephe<span class=\"_ _0\"></span>n\u2019s Gree<span class=\"_ _0\"></span>n, Du<span class=\"_ _0\"></span>blin, D<span class=\"_ _0\"></span>2, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span>4 <span class=\"_ _f4\"> </span><span class=\"fc8\">W<span class=\"_ _0\"></span>indso<span class=\"_ _0\"></span>r Hous<span class=\"_ _0\"></span>e, T<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lford C<span class=\"_ _0\"></span>entre<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>elfo<span class=\"_ _0\"></span>rd, Sh<span class=\"_ _0\"></span>rops<span class=\"_ _0\"></span>hire, TF<span class=\"_ _0\"></span>3 4NB<span class=\"_ _0\"></span>, Unit<span class=\"_ _0\"></span>ed King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>5 <span class=\"_ _f4\"> </span><span class=\"fc8\">G<span class=\"_ _0\"></span>oodb<span class=\"_ _0\"></span>ody S<span class=\"_ _0\"></span>ecre<span class=\"_ _0\"></span>tari<span class=\"_ _0\"></span>al Limite<span class=\"_ _0\"></span>d, Int<span class=\"_ _0\"></span>erna<span class=\"_ _0\"></span>tiona<span class=\"_ _0\"></span>l Finan<span class=\"_ _0\"></span>cial S<span class=\"_ _0\"></span>er<span class=\"_ _0\"></span>vices C<span class=\"_ _0\"></span>entr<span class=\"_ _0\"></span>e, 25/28 N<span class=\"_ _0\"></span>ort<span class=\"_ _0\"></span>h Wall Qu<span class=\"_ _0\"></span>ay<span class=\"_ _2\"></span>, D<span class=\"_ _0\"></span>ublin 1<span class=\"_ _0\"></span>, Ire<span class=\"_ _0\"></span>land<span class=\"_ _3bd\"> </span></span>6 <span class=\"_ _f4\"> </span><span class=\"fc8 ls21 ws23\">1 Georg<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span> Stre<span class=\"_ _0\"></span>et, Edinburgh, EH2 2LL<span class=\"_ _0\"></span>, United Kingdom<span class=\"_ _3bd\"> </span></span>7 <span class=\"_ _10\"> </span><span class=\"fc8\">2<span class=\"_ _0\"></span>2-2<span class=\"_ _2\"></span>4 N<span class=\"_ _0\"></span>ew Stre<span class=\"_ _0\"></span>et, St P<span class=\"_ _0\"></span>auls Ga<span class=\"_ _0\"></span>te, 4th Fl<span class=\"_ _0\"></span>oor, JE1 4<span class=\"_ _0\"></span>TR, J<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>ey<span class=\"_ _3bd\"> </span></span>8 <span class=\"_ _f4\"> </span><span class=\"fc8 ls11 ws11\">20 Old Bailey,<span class=\"_ _2\"></span> London, England, EC4M 7AN, United Ki<span class=\"_ _2\"></span>ng<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>9 <span class=\"_ _f4\"> </span><span class=\"fc8 ls54 ws7f\">Ugland House,<span class=\"_ _2\"></span> Grand Cayman,<span class=\"_ _2\"></span> K<span class=\"_ _0\"></span>Y<span class=\"_ _2\"></span>1-1104, Cayman<span class=\"_ _2\"></span> Islands<span class=\"_ _3bd\"> </span></span>10 <span class=\"_ _154\"> </span><span class=\"fc8\">Aven<span class=\"_ _0\"></span>ue Loui<span class=\"_ _0\"></span>se 326<span class=\"_ _0\"></span>, bte 3<span class=\"_ _0\"></span>3 105<span class=\"_ _0\"></span>0 Brus<span class=\"_ _0\"></span>sels<span class=\"_ _0\"></span>, Bel<span class=\"_ _0\"></span>gium<span class=\"_ _3bd\"> </span></span>11 <span class=\"_ _14\"> </span><span class=\"fc8\">Tele<span class=\"_ _0\"></span>stone 8<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>lepo<span class=\"_ _0\"></span>rt, N<span class=\"_ _0\"></span>arit<span class=\"_ _0\"></span>aweg 1<span class=\"_ _0\"></span>65<span class=\"_ _0\"></span>, 104<span class=\"_ _0\"></span>3 BW, Ams<span class=\"_ _0\"></span>terd<span class=\"_ _0\"></span>am, Ne<span class=\"_ _0\"></span>ther<span class=\"_ _0\"></span>lands<span class=\"_ _3bd\"> </span></span>12 <span class=\"_ _16\"> </span><span class=\"fc8\">Cit<span class=\"_ _0\"></span>co (Swe<span class=\"_ _0\"></span>den) Ab<span class=\"_ _0\"></span>, Sture<span class=\"_ _0\"></span>plan 4<span class=\"_ _0\"></span>c, 4 Tr<span class=\"_ _2\"></span>, 11<span class=\"_ _0\"></span>4 35 Sto<span class=\"_ _0\"></span>ckho<span class=\"_ _0\"></span>lm, Swe<span class=\"_ _0\"></span>den<span class=\"_ _3bd\"> </span></span>13 <span class=\"_ _16\"> </span><span class=\"fc8\">c/o Citco (<span class=\"_ _0\"></span>Denm<span class=\"_ _0\"></span>ark) A<span class=\"_ _0\"></span>pS, H<span class=\"_ _0\"></span>olbe<span class=\"_ _0\"></span>rgsg<span class=\"_ _0\"></span>ade 14<span class=\"_ _0\"></span>, 2 .tv, 1<span class=\"_ _0\"></span>057 K<span class=\"_ _0\"></span>\u00f8be<span class=\"_ _0\"></span>nhavn K D<span class=\"_ _0\"></span>enma<span class=\"_ _0\"></span>rk<span class=\"_ _3bd\"> </span></span>14 <span class=\"_ _f1\"> </span><span class=\"fc8 ls11 ws11\">2<span class=\"_ _0\"></span>01<span class=\"_ _2\"></span> Bishopsg<span class=\"_ _0\"></span>ate,<span class=\"_ _2\"></span> London, EC2M 3AE, United Kingdom<span class=\"_ _3bd\"> </span></span>15 <span class=\"_ _16\"> </span><span class=\"fc8\">2-4<span class=\"_ _0\"></span>, Rue Eu<span class=\"_ _0\"></span>g\u00e8n<span class=\"_ _0\"></span>e Ruppe<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>, L<span class=\"_ _3\"></span>-245<span class=\"_ _0\"></span>3 Luxem<span class=\"_ _0\"></span>bourg<span class=\"_ _0\"></span>, Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g<span class=\"_ _3bd\"> </span></span>16 <span class=\"_ _f1\"> </span><span class=\"fc8\">3<span class=\"_ _0\"></span>5a Aven<span class=\"_ _0\"></span>ue J.<span class=\"_ _0\"></span>F<span class=\"_ _4\"></span>. Ke<span class=\"_ _0\"></span>nned<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>, L<span class=\"_ _2\"></span>-18<span class=\"_ _0\"></span>55, L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>17 <span class=\"_ _137\"> </span><span class=\"fc8\">Og<span class=\"_ _0\"></span>ier Ho<span class=\"_ _0\"></span>use, T<span class=\"_ _0\"></span>he Esp<span class=\"_ _0\"></span>lana<span class=\"_ _0\"></span>de, St H<span class=\"_ _0\"></span>elie<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>E<span class=\"_ _2\"></span>4 9<span class=\"_ _0\"></span>WG, Je<span class=\"_ _0\"></span>rsey<span class=\"_ _3bd\"> </span></span>18 <span class=\"_ _f1\"> </span><span class=\"fc8\">3<span class=\"_ _0\"></span>2 Mole<span class=\"_ _0\"></span>swor<span class=\"_ _0\"></span>th Str<span class=\"_ _0\"></span>eet, D<span class=\"_ _0\"></span>ublin 2<span class=\"_ _0\"></span>, Dubl<span class=\"_ _0\"></span>in, D0<span class=\"_ _0\"></span>2 Y512, I<span class=\"_ _0\"></span>relan<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span></span>19 <span class=\"_ _f1\"> </span><span class=\"fc8\">8 C<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>a Squa<span class=\"_ _0\"></span>re, Lon<span class=\"_ _0\"></span>don, E<span class=\"_ _0\"></span>14 5HQ, U<span class=\"_ _0\"></span>nited K<span class=\"_ _0\"></span>ingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>20 <span class=\"_ _f6\"> </span><span class=\"fc8 ls11 ws11\">12 Throgmorton Avenue, L<span class=\"_ _2\"></span>ondon EC2N 2DL, United Kingdom<span class=\"_ _3bd\"> </span></span>21 <span class=\"_ _16\"> </span><span class=\"fc8 ls11 ws11\">One Coleman Street, London, EC2R 5AA, United Kingdom<span class=\"_ _3bd\"> </span></span>22 <span class=\"_ _107\"> </span><span class=\"fc8\">Se<span class=\"_ _0\"></span>nator H<span class=\"_ _0\"></span>ouse<span class=\"_ _0\"></span>, 85 Q<span class=\"_ _0\"></span>ueen V<span class=\"_ _0\"></span>ictor<span class=\"_ _0\"></span>ia Stre<span class=\"_ _0\"></span>et, Lon<span class=\"_ _0\"></span>don<span class=\"_ _0\"></span>, EC4V 4AB<span class=\"_ _0\"></span>, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>23 <span class=\"_ _107\"> </span><span class=\"fc8\">5, Al<span class=\"_ _0\"></span>l\u00e9e S<span class=\"_ _0\"></span>chef<span class=\"_ _0\"></span>fer, L<span class=\"_ _4\"></span>-2520 Lux<span class=\"_ _0\"></span>embo<span class=\"_ _0\"></span>urg, Lu<span class=\"_ _0\"></span>xemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>24 <span class=\"_ _107\"> </span><span class=\"fc8 ls1 ws1\">Kin<span class=\"_ _0\"></span>gs Pla<span class=\"_ _0\"></span>ce, 9<span class=\"_ _0\"></span>0 Y<span class=\"_ _2\"></span>or<span class=\"_ _0\"></span>k Way<span class=\"_ _2\"></span>, Lo<span class=\"_ _0\"></span>ndon<span class=\"_ _0\"></span>, N1 9G<span class=\"_ _0\"></span>E, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>25 <span class=\"_ _107\"> </span><span class=\"fc8\">Eliza<span class=\"_ _0\"></span>beth H<span class=\"_ _0\"></span>ouse<span class=\"_ _0\"></span>, 9 Cas<span class=\"_ _0\"></span>tle Stre<span class=\"_ _0\"></span>et, S<span class=\"_ _0\"></span>t Helie<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>E4 2QP<span class=\"_ _2\"></span>, J<span class=\"_ _0\"></span>ers<span class=\"_ _0\"></span>ey<span class=\"_ _3bd\"> </span></span>26 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">Cannon Place, 78 Cannon Street, London, EC4N 6A<span class=\"_ _2\"></span>G, United Kingdom<span class=\"_ _3bd\"> </span></span>27 <span class=\"_ _15\"> </span><span class=\"fc8\">70 Sir J<span class=\"_ _0\"></span>ohn Ro<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>son\u2019s Qu<span class=\"_ _0\"></span>ay<span class=\"_ _2\"></span>, D<span class=\"_ _0\"></span>ublin 2<span class=\"_ _0\"></span>, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span>28 <span class=\"_ _27\"> </span><span class=\"fc8\">B<span class=\"_ _0\"></span>eec<span class=\"_ _0\"></span>h Gate, M<span class=\"_ _0\"></span>illfie<span class=\"_ _0\"></span>ld Lan<span class=\"_ _0\"></span>e, Lower K<span class=\"_ _0\"></span>ings<span class=\"_ _0\"></span>wood<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>ad<span class=\"_ _0\"></span>wort<span class=\"_ _0\"></span>h, Su<span class=\"_ _0\"></span>rrey, KT<span class=\"_ _0\"></span>20 6R<span class=\"_ _0\"></span>P<span class=\"_ _2\"></span>, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>29 <span class=\"_ _27\"> </span><span class=\"fc8\">4<span class=\"_ _0\"></span>9, Aven<span class=\"_ _0\"></span>ue J.F. Kenne<span class=\"_ _0\"></span>dy, L<span class=\"_ _4\"></span>-18<span class=\"_ _0\"></span>55 Luxe<span class=\"_ _0\"></span>mbou<span class=\"_ _0\"></span>rg, Gr<span class=\"_ _0\"></span>and D<span class=\"_ _0\"></span>uchy of Lux<span class=\"_ _0\"></span>embo<span class=\"_ _0\"></span>urg<span class=\"_ _3bd\"> </span></span>30 <span class=\"_ _f6\"> </span><span class=\"fc8 ls11 ws11\">Perpetual Park, P<span class=\"_ _2\"></span>erpetual Park Drive, Henley-on-<span class=\"_ _2\"></span>Thames<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span> O<span class=\"_ _0\"></span>xfordshire,<span class=\"_ _2\"></span> RG<span class=\"_ _0\"></span>9<span class=\"_ _2\"></span> 1H<span class=\"_ _0\"></span>H, United<span class=\"_ _2\"></span> King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>31 <span class=\"_ _16\"> </span><span class=\"fc8\">10<span class=\"_ _0\"></span>, Ch\u00e2te<span class=\"_ _0\"></span>au d\u2019<span class=\"_ _0\"></span>Eau<span class=\"_ _0\"></span>, L<span class=\"_ _4\"></span>-33<span class=\"_ _0\"></span>64 Le<span class=\"_ _0\"></span>udela<span class=\"_ _0\"></span>nge<span class=\"_ _0\"></span>, Gran<span class=\"_ _0\"></span>d Duchy of L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>32 <span class=\"_ _107\"> </span><span class=\"fc8\">Cal<span class=\"_ _0\"></span>ton Squ<span class=\"_ _0\"></span>are, 1 G<span class=\"_ _0\"></span>reen<span class=\"_ _0\"></span>side Ro<span class=\"_ _0\"></span>w, Edinbu<span class=\"_ _0\"></span>rgh, EH<span class=\"_ _0\"></span>1 3AN, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>33 <span class=\"_ _27\"> </span><span class=\"fc8\">1<span class=\"_ _0\"></span>60 Q<span class=\"_ _0\"></span>uee<span class=\"_ _0\"></span>n Victo<span class=\"_ _0\"></span>ria Stre<span class=\"_ _0\"></span>et, Lo<span class=\"_ _0\"></span>ndon<span class=\"_ _0\"></span>, EC4V 4<span class=\"_ _0\"></span>LA<span class=\"_ _0\"></span>, Unite<span class=\"_ _0\"></span>d King<span class=\"_ _0\"></span>dom<span class=\"_ _3bd\"> </span></span>34 <span class=\"_ _27\"> </span><span class=\"fc8\">C<span class=\"_ _0\"></span>anon\u2019s C<span class=\"_ _0\"></span>our<span class=\"_ _0\"></span>t, 22 Vic<span class=\"_ _0\"></span>tori<span class=\"_ _0\"></span>a Stree<span class=\"_ _0\"></span>t, Ha<span class=\"_ _0\"></span>milton<span class=\"_ _0\"></span>, HM1<span class=\"_ _0\"></span>2, Ber<span class=\"_ _0\"></span>muda<span class=\"_ _3bd\"> </span></span>35 <span class=\"_ _27\"> </span><span class=\"fc8\">M<span class=\"_ _0\"></span>atri<span class=\"_ _0\"></span>x<span class=\"_ gs1f7\"> </span>Hous<span class=\"_ _0\"></span>e,<span class=\"_ gs1f7\"> </span>Ba<span class=\"_ _0\"></span>sing<span class=\"_ gs1f7\"> </span>Vie<span class=\"_ _0\"></span>w,<span class=\"_ gs1f7\"> </span>Basi<span class=\"_ _0\"></span>ngs<span class=\"_ _0\"></span>toke,<span class=\"_ gs1f7\"> </span>Ha<span class=\"_ _0\"></span>mpshi<span class=\"_ _0\"></span>re,<span class=\"_ gs1f7\"> </span>RG2<span class=\"_ _0\"></span>1<span class=\"_ gs1f7\"> </span>4DZ,<span class=\"_ gs1f7\"> </span>U<span class=\"_ _0\"></span>nited Ki<span class=\"_ _0\"></span>ngdo<span class=\"_ _0\"></span>m<span class=\"_ _3bd\"> </span></span>36 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">280 Bishopsgate, London, EC2M 4AG,<span class=\"_ _2\"></span> United Kingdom<span class=\"_ _3bd\"> </span></span>37 <span class=\"_ _107\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>enni<span class=\"_ _0\"></span>nger<span class=\"_ _0\"></span>berg<span class=\"_ _0\"></span>, 6, Ro<span class=\"_ _0\"></span>ute De Tr\u00e8ves<span class=\"_ _0\"></span>, L<span class=\"_ _4\"></span>-263<span class=\"_ _0\"></span>3, Lu<span class=\"_ _0\"></span>xemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>38 <span class=\"_ _27\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>ennin<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>berg<span class=\"_ _0\"></span>, 6, Lo<span class=\"_ _0\"></span>u Hemm<span class=\"_ _0\"></span>er Stre<span class=\"_ _0\"></span>et, L<span class=\"_ _2\"></span>-1748, L<span class=\"_ _0\"></span>uxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>39 <span class=\"_ _27\"> </span><span class=\"fc8\">Wee<span class=\"_ _0\"></span>na 85<span class=\"_ _0\"></span>0, 30<span class=\"_ _0\"></span>14 DA, R<span class=\"_ _0\"></span>otte<span class=\"_ _0\"></span>rdam<span class=\"_ _0\"></span>, Nethe<span class=\"_ _0\"></span>rlan<span class=\"_ _0\"></span>ds<span class=\"_ _3bd\"> </span></span>40 <span class=\"_ _f6\"> </span><span class=\"fc8\">Hes<span class=\"_ _0\"></span>pera<span class=\"_ _0\"></span>nge, 3<span class=\"_ _0\"></span>3, r<span class=\"_ _0\"></span>ue de Ga<span class=\"_ _0\"></span>sper<span class=\"_ _0\"></span>ich, L<span class=\"_ _2\"></span>-5<span class=\"_ _0\"></span>826<span class=\"_ _0\"></span>, Luxem<span class=\"_ _0\"></span>bourg<span class=\"_ _3bd\"> </span></span>41 <span class=\"_ _f1\"> </span><span class=\"fc8\">2<span class=\"_ _0\"></span>0, rue d<span class=\"_ _0\"></span>e la Pos<span class=\"_ _0\"></span>te, Gra<span class=\"_ _0\"></span>nd Duc<span class=\"_ _0\"></span>hy of Luxe<span class=\"_ _0\"></span>mbour<span class=\"_ _0\"></span>g, L<span class=\"_ _4\"></span>-23<span class=\"_ _0\"></span>46<span class=\"_ _0\"></span>, Luxemb<span class=\"_ _0\"></span>ourg<span class=\"_ _3bd\"> </span></span>42 <span class=\"_ _27\"> </span><span class=\"fc8 ls11 ws11\">1 London Wall<span class=\"_ _2\"></span> Plac<span class=\"_ _0\"></span>e,<span class=\"_ _2\"></span> London, EC2Y 5AU,<span class=\"_ _2\"></span> United Kingdom<span class=\"_ _3bd\"> </span></span>43 <span class=\"_ _27\"> </span><span class=\"fc8 ls4d wsbf\">Senningerberg, 5, Hohenhof<span class=\"_ _2\"></span>, L<span class=\"_ _4\"></span>-1<span class=\"_ _2\"></span>736<span class=\"_ _0\"></span>,<span class=\"_ _2\"></span> Luxembourg<span class=\"_ _3bd\"> </span></span>4<span class=\"_ _0\"></span>4 <span class=\"_ _f6\"> </span><span class=\"fc8\">33 Si<span class=\"_ _0\"></span>r John Ro<span class=\"_ _0\"></span>ger<span class=\"_ _0\"></span>sons Q<span class=\"_ _0\"></span>uay, Dub<span class=\"_ _0\"></span>lin, D<span class=\"_ _0\"></span>02 XK09<span class=\"_ _0\"></span>, Irel<span class=\"_ _0\"></span>and<span class=\"_ _3bd\"> </span></span>45 <span class=\"_ _27\"> </span><span class=\"fc8\">S<span class=\"_ _0\"></span>t. Pete<span class=\"_ _0\"></span>r Port<span class=\"_ _0\"></span>, T<span class=\"_ _2\"></span>udo<span class=\"_ _0\"></span>r Hous<span class=\"_ _0\"></span>e, Le Bo<span class=\"_ _0\"></span>rdag<span class=\"_ _0\"></span>e, GY1 6B<span class=\"_ _0\"></span>D, Gue<span class=\"_ _0\"></span>rnse<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></span>46 <span class=\"_ _27\"> </span><span class=\"fc8\">Hig<span class=\"_ _0\"></span>hvis<span class=\"_ _0\"></span>ta Stra<span class=\"_ _0\"></span>tegi<span class=\"_ _0\"></span>es LLC, 20<span class=\"_ _0\"></span>0 Clare<span class=\"_ _0\"></span>ndon S<span class=\"_ _0\"></span>treet 5<span class=\"_ _0\"></span>0th F<span class=\"_ _0\"></span>loor, Bos<span class=\"_ _0\"></span>ton<span class=\"_ _0\"></span>, Mas<span class=\"_ _0\"></span>sach<span class=\"_ _0\"></span>uset<span class=\"_ _0\"></span>ts<span class=\"_ _0\"></span>, 0211<span class=\"_ _0\"></span>6, Un<span class=\"_ _0\"></span>ited St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span>47 <span class=\"_ _107\"> </span><span class=\"fc8\">C<span class=\"_ _0\"></span>orpo<span class=\"_ _0\"></span>ratio<span class=\"_ _0\"></span>n T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Cen<span class=\"_ _0\"></span>tre, 12<span class=\"_ _0\"></span>90 Or<span class=\"_ _0\"></span>ang<span class=\"_ _0\"></span>e Stree<span class=\"_ _0\"></span>t, Wilm<span class=\"_ _0\"></span>ingt<span class=\"_ _0\"></span>on, 1<span class=\"_ _0\"></span>980<span class=\"_ _0\"></span>1, Un<span class=\"_ _0\"></span>ited St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span>48 <span class=\"_ _27\"> </span><span class=\"fc8\">c/o Mar<span class=\"_ _0\"></span>ks and S<span class=\"_ _0\"></span>penc<span class=\"_ _0\"></span>er Uni<span class=\"_ _0\"></span>t T<span class=\"_ _2\"></span>rus<span class=\"_ _0\"></span>t Man<span class=\"_ _0\"></span>agem<span class=\"_ _0\"></span>ent Lim<span class=\"_ _0\"></span>ited<span class=\"_ _0\"></span>, Kings M<span class=\"_ _0\"></span>ead<span class=\"_ _0\"></span>ow, Ches<span class=\"_ _0\"></span>ter Bu<span class=\"_ _0\"></span>sine<span class=\"_ _0\"></span>ss Park<span class=\"_ _0\"></span>, Che<span class=\"_ _0\"></span>ster, CH<span class=\"_ _0\"></span>99 9<span class=\"_ _0\"></span>FB, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>49 <span class=\"_ _27\"> </span><span class=\"fc8\">16 C<span class=\"_ _0\"></span>harl<span class=\"_ _0\"></span>otte S<span class=\"_ _0\"></span>quare<span class=\"_ _0\"></span>, Edinb<span class=\"_ _0\"></span>urgh<span class=\"_ _0\"></span>, EH2 4D<span class=\"_ _0\"></span>F<span class=\"_ _2\"></span>, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>50 <span class=\"_ _f6\"> </span><span class=\"fc8\">Cor<span class=\"_ _0\"></span>pora<span class=\"_ _0\"></span>tion S<span class=\"_ _0\"></span>ervi<span class=\"_ _0\"></span>ce Co<span class=\"_ _0\"></span>mpany, 251 Li<span class=\"_ _0\"></span>ttl<span class=\"_ _0\"></span>e Falls Dr<span class=\"_ _0\"></span>ive, Wi<span class=\"_ _0\"></span>lming<span class=\"_ _0\"></span>ton, D<span class=\"_ _0\"></span>E 19<span class=\"_ _0\"></span>808<span class=\"_ _0\"></span>, Uni<span class=\"_ _0\"></span>ted St<span class=\"_ _0\"></span>ates<span class=\"_ _3bd\"> </span></span>51 <span class=\"_ _16\"> </span><span class=\"fc8 ls1 ws1\">4<span class=\"_ _0\"></span>4 Espl<span class=\"_ _0\"></span>anad<span class=\"_ _0\"></span>e, St He<span class=\"_ _0\"></span>lier, Jer<span class=\"_ _0\"></span>sey, Ch<span class=\"_ _0\"></span>anne<span class=\"_ _0\"></span>l Islan<span class=\"_ _0\"></span>ds, J<span class=\"_ _0\"></span>E4 9WG, J<span class=\"_ _0\"></span>erse<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></span>52 <span class=\"_ _107\"> </span><span class=\"fc8\">50 Lot<span class=\"_ _0\"></span>hian Ro<span class=\"_ _0\"></span>ad, Fe<span class=\"_ _0\"></span>stiva<span class=\"_ _0\"></span>l Squ<span class=\"_ _0\"></span>are, Edi<span class=\"_ _0\"></span>nburg<span class=\"_ _0\"></span>h, EH3 9<span class=\"_ _0\"></span>W<span class=\"_ _2\"></span>J, U<span class=\"_ _0\"></span>nite<span class=\"_ _0\"></span>d Kingd<span class=\"_ _0\"></span>om<span class=\"_ _3bd\"> </span></span>53 <span class=\"_ _27\"> </span><span class=\"fc8\">5<span class=\"_ _0\"></span>5 Gres<span class=\"_ _0\"></span>ham St<span class=\"_ _0\"></span>reet<span class=\"_ _0\"></span>, Londo<span class=\"_ _0\"></span>n, EC2V 7<span class=\"_ _0\"></span>EL, Uni<span class=\"_ _0\"></span>ted Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>54 <span class=\"_ _27\"> </span><span class=\"fc8\">1 Wa<span class=\"_ _0\"></span>ll Plac<span class=\"_ _0\"></span>e, Lon<span class=\"_ _0\"></span>don, EC<span class=\"_ _0\"></span>2Y 5AU, Un<span class=\"_ _0\"></span>ited Kin<span class=\"_ _0\"></span>gdom<span class=\"_ _3bd\"> </span></span>The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies have bee<span class=\"_ _0\"></span>n granted an a<span class=\"_ _0\"></span>udit exemption by pa<span class=\"_ _0\"></span>rental gua<span class=\"_ _0\"></span>rantee by vir<span class=\"_ _0\"></span>tue of s.479A of the C<span class=\"_ _0\"></span>ompanie<span class=\"_ _0\"></span>s Act 20<span class=\"_ _0\"></span>06:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Brit<span class=\"_ _0\"></span>annic Fina<span class=\"_ _0\"></span>nce Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span><span class=\"lsd wsd\">Britan<span class=\"_ _0\"></span>nic<span class=\"_ _2\"></span> M<span class=\"_ _0\"></span>oney Inv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment Ser<span class=\"_ _0\"></span>vices Limited<span class=\"_ _3bd\"> </span></span>\u2022 <span class=\"_ _19\"> </span>G Life H Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>G As<span class=\"_ _0\"></span>suranc<span class=\"_ _0\"></span>e &amp; P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsions S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pearl A<span class=\"_ _0\"></span>ssuran<span class=\"_ _0\"></span>ce Group H<span class=\"_ _0\"></span>oldings Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pearl C<span class=\"_ _0\"></span>ustomer C<span class=\"_ _0\"></span>are Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>H CA Limited (previo<span class=\"_ _0\"></span>usly known a<span class=\"_ _0\"></span>s Sun Life of Canad<span class=\"_ _0\"></span>a UK Holdin<span class=\"_ _0\"></span>gs Limited)<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>MS (Glas<span class=\"_ _0\"></span>gow) Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PG<span class=\"_ _0\"></span>S 2 Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Cus<span class=\"_ _0\"></span>tomer Care Lim<span class=\"_ _0\"></span>ited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 1 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 2 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 3 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix SPV 4 Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Pho<span class=\"_ _0\"></span>enix Wealth H<span class=\"_ _0\"></span>oldings Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ReA<span class=\"_ _0\"></span>ssure Co<span class=\"_ _0\"></span>mpanies S<span class=\"_ _0\"></span>ervic<span class=\"_ _0\"></span>es Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>ReA<span class=\"_ _0\"></span>ssure FSH U<span class=\"_ _0\"></span>K Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>V<span class=\"_ _2\"></span>eb<span class=\"_ _0\"></span>net Limited<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies were diss<span class=\"_ _0\"></span>olved during t<span class=\"_ _0\"></span>he perio<span class=\"_ _0\"></span>d. The subsi<span class=\"_ _0\"></span>diaries were de<span class=\"_ _0\"></span>conso<span class=\"_ _0\"></span>lidated from the d<span class=\"_ _0\"></span>ate of dissolut<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn S<span class=\"_ _0\"></span>ICA<span class=\"_ _2\"></span>V II Europ<span class=\"_ _0\"></span>ean Govern<span class=\"_ _0\"></span>ment All Stocks Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) UK Cor<span class=\"_ _0\"></span>porate Bon<span class=\"_ _0\"></span>d T<span class=\"_ _4\"></span>rus<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) European T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn (<span class=\"_ _0\"></span>Lothian) European T<span class=\"_ _2\"></span>ru<span class=\"_ _0\"></span>st II<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Global R<span class=\"_ _0\"></span>EIT Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Japan Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn M<span class=\"_ _0\"></span>T Sterling Interm<span class=\"_ _0\"></span>ediate Cred<span class=\"_ _0\"></span>it F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>PC M<span class=\"_ _0\"></span>anag<span class=\"_ _0\"></span>ement Limite<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing subsidiar<span class=\"_ _0\"></span>ies were eithe<span class=\"_ _0\"></span>r fully dispo<span class=\"_ _0\"></span>sed of or the G<span class=\"_ _0\"></span>roup was no lon<span class=\"_ _0\"></span>ger de<span class=\"_ _0\"></span>emed to co<span class=\"_ _0\"></span>ntrol the subsidi<span class=\"_ _0\"></span>ary. The subs<span class=\"_ _0\"></span>idiaries were dec<span class=\"_ _0\"></span>onsolida<span class=\"_ _0\"></span>ted from eithe<span class=\"_ _0\"></span>r the date of dispo<span class=\"_ _0\"></span>sal or from the d<span class=\"_ _0\"></span>ate when the Gro<span class=\"_ _0\"></span>up was deem<span class=\"_ _0\"></span>ed to no lon<span class=\"_ _0\"></span>ger contro<span class=\"_ _0\"></span>l the subsidia<span class=\"_ _0\"></span>ry<span class=\"_ _0\"></span>:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>28 Rib<span class=\"_ _0\"></span>eria de Loira S<span class=\"_ _0\"></span>L<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>33<span class=\"_ _0\"></span>0 Avenida de Ara<span class=\"_ _0\"></span>gon SL<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Amun<span class=\"_ _0\"></span>di MSCI Worl<span class=\"_ _0\"></span>d Climate T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>nsition CTB<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>G Park M<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment Com<span class=\"_ _0\"></span>pany Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>IFS<span class=\"_ _0\"></span>L AMR O<span class=\"_ _0\"></span>EIC- IFS<span class=\"_ _0\"></span>L AR Diversifie<span class=\"_ _0\"></span>d Port<span class=\"_ _0\"></span>folio<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al and Ge<span class=\"_ _0\"></span>neral Grow<span class=\"_ _0\"></span>th T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>BN<span class=\"_ _0\"></span>Y Mellon 50/50 G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Fund \u2022 <span class=\"_ _19\"> </span>Aviva Inves<span class=\"_ _0\"></span>tors UK Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y Fee<span class=\"_ _0\"></span>der T<span class=\"_ _4\"></span>r<span class=\"_ _0\"></span>ust<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>BS Global O<span class=\"_ _0\"></span>ptimal Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>LA Irela<span class=\"_ _0\"></span>nd No.1 S.<span class=\"_ _0\"></span>\u00e0.r<span class=\"_ _2\"></span>.l<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing ass<span class=\"_ _0\"></span>ociates were dis<span class=\"_ _0\"></span>solved d<span class=\"_ _0\"></span>uring the pe<span class=\"_ _0\"></span>riod. The inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in asso<span class=\"_ _0\"></span>ciates were dere<span class=\"_ _0\"></span>cogni<span class=\"_ _0\"></span>sed from the d<span class=\"_ _0\"></span>ate of dissolut<span class=\"_ _0\"></span>ion:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty R<span class=\"_ _0\"></span>EIT Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty E<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>s Holding<span class=\"_ _0\"></span>s Limited \u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty E<span class=\"_ _0\"></span>state<span class=\"_ _0\"></span>s Limited<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>U<span class=\"_ _0\"></span>K Commerc<span class=\"_ _0\"></span>ial Proper<span class=\"_ _0\"></span>ty F<span class=\"_ _0\"></span>inance H<span class=\"_ _0\"></span>oldings Limi<span class=\"_ _0\"></span>ted<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>D<span class=\"_ _0\"></span>uk<span class=\"_ _2\"></span>e Dis<span class=\"_ _0\"></span>tribution C<span class=\"_ _0\"></span>entres S<span class=\"_ _0\"></span>.\u00e0.r.l.<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>D<span class=\"_ _0\"></span>uk<span class=\"_ _2\"></span>e Of<span class=\"_ _0\"></span>fices &amp; D<span class=\"_ _0\"></span>evelopme<span class=\"_ _0\"></span>nts S.<span class=\"_ _0\"></span>\u00e0.r<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>l.<span class=\"_ _3bd\"> </span>The Gro<span class=\"_ _0\"></span>up no long<span class=\"_ _0\"></span>er has sign<span class=\"_ _0\"></span>ificant hol<span class=\"_ _0\"></span>dings in the follow<span class=\"_ _0\"></span>ing under<span class=\"_ _0\"></span>taking<span class=\"_ _0\"></span>s:<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn A<span class=\"_ _0\"></span>merica<span class=\"_ _0\"></span>n Income Equ<span class=\"_ _0\"></span>ity Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn G<span class=\"_ _0\"></span>lobal Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn U<span class=\"_ _0\"></span>K Governme<span class=\"_ _0\"></span>nt Bond Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn U<span class=\"_ _0\"></span>K Incom<span class=\"_ _0\"></span>e Uncon<span class=\"_ _0\"></span>straine<span class=\"_ _0\"></span>d Equity Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn I<span class=\"_ _0\"></span>nv<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>stment G<span class=\"_ _0\"></span>rade Co<span class=\"_ _0\"></span>rporate Bon<span class=\"_ _0\"></span>d Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>abrdn Em<span class=\"_ _0\"></span>erging M<span class=\"_ _0\"></span>ark<span class=\"_ _2\"></span>et<span class=\"_ _0\"></span>s Local Cur<span class=\"_ _0\"></span>rency Bo<span class=\"_ _0\"></span>nd T<span class=\"_ _4\"></span>ra<span class=\"_ _0\"></span>ck<span class=\"_ _2\"></span>er Fun<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>CF M<span class=\"_ _0\"></span>acqua<span class=\"_ _0\"></span>ries Globa<span class=\"_ _0\"></span>l Infrastr<span class=\"_ _0\"></span>ucture S<span class=\"_ _0\"></span>ecuritie<span class=\"_ _0\"></span>s F<span class=\"_ _2\"></span>un<span class=\"_ _0\"></span>d<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>S<span class=\"_ _0\"></span>chroder G<span class=\"_ _0\"></span>lobal Emerg<span class=\"_ _0\"></span>ing Markets Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Inves<span class=\"_ _0\"></span>co Globa<span class=\"_ _0\"></span>l T<span class=\"_ _4\"></span>argete<span class=\"_ _0\"></span>d Returns Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Th<span class=\"_ _0\"></span>e Marks and S<span class=\"_ _0\"></span>pence<span class=\"_ _0\"></span>r W<span class=\"_ _2\"></span>orl<span class=\"_ _0\"></span>dwide Man<span class=\"_ _0\"></span>aged Fund<span class=\"_ _0\"></span>L<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>gal &amp; Ge<span class=\"_ _0\"></span>neral Europ<span class=\"_ _0\"></span>ean Index L ACC<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al &amp; Gene<span class=\"_ _0\"></span>ral Future World Sus<span class=\"_ _0\"></span>tainab<span class=\"_ _0\"></span>le UK Equit<span class=\"_ _0\"></span>y Fund<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>Leg<span class=\"_ _0\"></span>al &amp; Gene<span class=\"_ _0\"></span>ral Europea<span class=\"_ _0\"></span>n Index L ACC<span class=\"_ _3bd\"> </span>\u2022 <span class=\"_ _19\"> </span>No<span class=\"_ _0\"></span>mura Ameri<span class=\"_ _0\"></span>can Cent<span class=\"_ _0\"></span>ury C<span class=\"_ _0\"></span>oncentr<span class=\"_ _0\"></span>ated Globa<span class=\"_ _0\"></span>l Growth Equi<span class=\"_ _0\"></span>ty Fund",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-609": {
   "value": "<div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsb9f\">I2<span class=\"_ _0\"></span>. Cash fl<span class=\"_ _0\"></span>ows from o<span class=\"_ _0\"></span>perat<span class=\"_ _0\"></span>ing ac<span class=\"_ _0\"></span>tivit<span class=\"_ _0\"></span>ies<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsba0\">Ope<span class=\"_ _0\"></span>rating c<span class=\"_ _0\"></span>ash flows incl<span class=\"_ _0\"></span>ude purcha<span class=\"_ _0\"></span>ses and s<span class=\"_ _0\"></span>ales of investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y and financ<span class=\"_ _0\"></span>ial investme<span class=\"_ _0\"></span>nts as the p<span class=\"_ _0\"></span>urchase<span class=\"_ _0\"></span>s are funde<span class=\"_ _0\"></span>d from cash fl<span class=\"_ _0\"></span>ows </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsba1\">as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the origin<span class=\"_ _0\"></span>ation of insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, net of paym<span class=\"_ _0\"></span>ents of related b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s and claims<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsba2\">The follow<span class=\"_ _0\"></span>ing analys<span class=\"_ _0\"></span>is gives fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ail behind th<span class=\"_ _0\"></span>e \u2018<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ash (utilised<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ge<span class=\"_ _0\"></span>nerate<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 fig<span class=\"_ _0\"></span>ure in the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1be ws1d2 gsba3\">Notes<span class=\"_ _3bd\"> </span></div><div class=\"gsba4\"><table class=\"s wdad h2c9\" id=\"_f3b8f7e0-d344-4222-b3da-0d03442777d2\"><tr><td></td><td></td><td></td><td class=\"t m0 x1cd ha y63ae ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 x1ce h29 y63af ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"c x1d1 y63b0 w3c h1f7\"><div class=\"t m0 x1cf ha y59ee ff2 fs5 fc3 sc0 ls1be ws1d2\">rest<span class=\"_ _0\"></span>ated</div><div class=\"t m0 x1d0 h174 y5af0 ff2 fs17 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 x1d2 h29 y63b1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63b1 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y63b2 w85 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1 ws1\">(Los<span class=\"_ _0\"></span>s)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>rofit for the yea<span class=\"_ _0\"></span>r before t<span class=\"_ _0\"></span>ax<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x209 y63b2 w86 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d2 ws1eb\">(1<span class=\"_ _0\"></span>,<span class=\"_ _0\"></span>107<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x20a y63b2 w87 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1ca ws1e2\">26<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y63b3 ff3 fs6 fc3 sc0 ls1 ws1\">Adj<span class=\"_ _0\"></span>ustme<span class=\"_ _0\"></span>nts for no<span class=\"_ _0\"></span>n-ca<span class=\"_ _0\"></span>sh moveme<span class=\"_ _0\"></span>nts in los<span class=\"_ _0\"></span>s/<span class=\"_ _2\"></span>(pr<span class=\"_ _0\"></span>ofit) befor<span class=\"_ _0\"></span>e tax for th<span class=\"_ _0\"></span>e year:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y63b4 wdae h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Loss o<span class=\"_ _0\"></span>n PGL Pension S<span class=\"_ _0\"></span>chem<span class=\"_ _0\"></span>e buy-o<span class=\"_ _0\"></span>ut transa<span class=\"_ _0\"></span>ction<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e6 y63b4 w134 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">G1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e7 y63b4 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e8 y63b4 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x229 hc y63b5 ff2 fs6 fc3 sc0 ls1 ws1\">Gain on a<span class=\"_ _0\"></span>cquisition of Ph<span class=\"_ _0\"></span>oenix Life CA Hold<span class=\"_ _0\"></span>ings Limited  </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y63b6 w9f2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(Forme<span class=\"_ _0\"></span>rly known as S<span class=\"_ _0\"></span>LF of Canad<span class=\"_ _0\"></span>a UK Limited)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21e9 y63b6 wdaf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls17b ws18b\">H2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ea y63b6 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21eb y63b6 w208 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(66<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a hc y63b7 ff2 fs6 fc3 sc0 ls13 ws14\">Fair value<span class=\"_ _2\"></span> los<span class=\"_ _0\"></span>ses/<span class=\"_ _2\"></span>(gains) on:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y63b8 wd8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Inves<span class=\"_ _0\"></span>tment prope<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ec y63b8 wd9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb6 wsb4\">G4<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ed y63b8 wb8 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ee y63b8 w55d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c8 ws1e0\">362<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y63b9 wdb0 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>cial as<span class=\"_ _0\"></span>sets and d<span class=\"_ _0\"></span>erivative liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x21ef y63b9 wdb1 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1df ws1fa\">(<span class=\"_ _1\"></span>7,<span class=\"_ _0\"></span>8<span class=\"_ _0\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f0 y63b9 wdb2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(11<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>45)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x231 y63ba wdb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Chan<span class=\"_ _0\"></span>ge in fair value of b<span class=\"_ _0\"></span>orrowings<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f1 y63ba w1db h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls4 ws4\">E5.<span class=\"_ _0\"></span>2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1b29 y63ba w96 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f2 y63ba w1bd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">(82)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63bb wdb4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Amor<span class=\"_ _0\"></span>tisati<span class=\"_ _0\"></span>on and impairm<span class=\"_ _0\"></span>ent of intangib<span class=\"_ _0\"></span>le asset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f3 y63bb w72 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">G2<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f4 y63bb w95 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c9 ws1e1\">27<span class=\"_ _0\"></span>3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f5 y63bb w5ca h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1da ws1f4\">3<span class=\"_ _0\"></span>24<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63bc wdb5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Dep<span class=\"_ _0\"></span>reciation of pro<span class=\"_ _0\"></span>per<span class=\"_ _0\"></span>ty, plant and e<span class=\"_ _0\"></span>quipment<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f6 y63bc w76 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">G3<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x7c1 y63bc wf4 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls85 ws88\">21<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f7 y63bc wd7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63bd wdb6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Sha<span class=\"_ _0\"></span>re-bas<span class=\"_ _0\"></span>ed payme<span class=\"_ _0\"></span>nt charge<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f8 y63bd wdb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c3 ws1db\">I1<span class=\"_ _0\"></span>.1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x211 y63bd w11a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls4 ws4\">26<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21f9 y63bd w1b8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">22<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63be w81 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Finan<span class=\"_ _0\"></span>ce cos<span class=\"_ _0\"></span>ts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x206 y63be w82 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">C7<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21fa y63be w371 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d0 ws1e9\">29<span class=\"_ _0\"></span>0<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21fb y63be w21f h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d1 ws1ea\">25<span class=\"_ _0\"></span>8<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63bf wdb8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net intere<span class=\"_ _0\"></span>st expe<span class=\"_ _0\"></span>nse on Gro<span class=\"_ _0\"></span>up defined be<span class=\"_ _0\"></span>nefit pen<span class=\"_ _0\"></span>sion sche<span class=\"_ _0\"></span>me liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>as<span class=\"_ _0\"></span>set<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21fc y63bf wb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">G1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x98f y63bf w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">56<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xa98 y63bf wbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls15c ws1ee\">111<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63c0 w343 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Pension p<span class=\"_ _0\"></span>ast se<span class=\"_ _0\"></span>rvice c<span class=\"_ _0\"></span>osts<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2a7 y63c0 wb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">G1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21fd y63c0 we9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21fe y63c0 w1b9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls6d ws202\">12<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63c1 wdb9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Other costs of<span class=\"_ _2\"></span> pension schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x21ff y63c1 wb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">G1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2200 y63c1 w9e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls147 ws152\">12<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73e y63c1 w96 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y63c2 ff3 fs6 fc3 sc0 ls1a ws1b\">Movement in ass<span class=\"_ _0\"></span>ets and liabilities rela<span class=\"_ _0\"></span>ting to operations:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y63c3 wdba h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Incre<span class=\"_ _0\"></span>ase in inves<span class=\"_ _0\"></span>tment ass<span class=\"_ _0\"></span>ets<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2201 y63c3 wdbb h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c3 ws1db\">(913)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2202 y63c3 w63 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cc ws1e4\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _0\"></span>8<span class=\"_ _1\"></span>6<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63c4 wdbc h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>crease/(incre<span class=\"_ _0\"></span>ase) in reinsurer<span class=\"_ _0\"></span>s\u2019 share of investm<span class=\"_ _0\"></span>ent contra<span class=\"_ _0\"></span>ct liabilitie<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xa7c y63c4 w24e h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">3<span class=\"_ _0\"></span>42<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2203 y63c4 w603 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1c7 ws1df\">(<span class=\"_ _0\"></span>6<span class=\"_ _0\"></span>21)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63c5 wdbd h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Incre<span class=\"_ _0\"></span>ase in reins<span class=\"_ _0\"></span>urance c<span class=\"_ _0\"></span>ontract a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s/liabilities<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2204 y63c5 wdbe h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls8e ws87\">(30<span class=\"_ _0\"></span>5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2205 y63c5 w44d h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1e1 ws1fd\">(81<span class=\"_ _0\"></span>8)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63c6 wdbf h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>crease in a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s classifi<span class=\"_ _0\"></span>ed as held fo<span class=\"_ _0\"></span>r sale<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n xb4b y63c6 wdc0 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1d3 ws1ec\">1<span class=\"_ _1\"></span>,<span class=\"_ _0\"></span>475<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2206 y63c6 w658 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">2,593<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a0f wdc1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">(De<span class=\"_ _0\"></span>creas<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>)/inc<span class=\"_ _0\"></span>rease in ins<span class=\"_ _0\"></span>urance co<span class=\"_ _0\"></span>ntract lia<span class=\"_ _0\"></span>bilities<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2207 y5a0f w4c9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(166)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2208 y5a0f w5b6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">4<span class=\"_ _0\"></span>,0<span class=\"_ _0\"></span>37<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63ac wdc2 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Incre<span class=\"_ _0\"></span>ase in inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>act liabiliti<span class=\"_ _0\"></span>es<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2209 y63ac wdc3 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e2 ws1fe\">13,<span class=\"_ _0\"></span>405<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x220a y63ac w2eb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1cb ws1e3\">1<span class=\"_ _0\"></span>3,385<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y63ad wdc4 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>crease in ob<span class=\"_ _0\"></span>ligation for rep<span class=\"_ _0\"></span>ayment of collate<span class=\"_ _0\"></span>ral rece<span class=\"_ _0\"></span>ived<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x5bd y63ad w1f5 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(156<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x459 y63ad w8c1 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls74 ws1e5\">(<span class=\"_ _0\"></span>70<span class=\"_ _0\"></span>3)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a11 wdc5 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">De<span class=\"_ _0\"></span>crease in lia<span class=\"_ _0\"></span>bilities clas<span class=\"_ _0\"></span>sified a<span class=\"_ _0\"></span>s held for sal<span class=\"_ _0\"></span>e<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x220b y5a11 w174 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1c8 ws1e0\">(1<span class=\"_ _0\"></span>,6<span class=\"_ _0\"></span>06<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x220c y5a11 wdc6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1d7 ws1f1\">(<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>571<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a12 wdc7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Net (in<span class=\"_ _0\"></span>crease)/<span class=\"_ _2\"></span>decre<span class=\"_ _0\"></span>ase in workin<span class=\"_ _0\"></span>g capita<span class=\"_ _0\"></span>l<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x220d y5a12 w5ed h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">(4<span class=\"_ _0\"></span>06)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x220e y5a12 w15e h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1db ws1f5\">2<span class=\"_ _0\"></span>,7<span class=\"_ _0\"></span>3<span class=\"_ _0\"></span>6<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y63c7 ff3 fs6 fc3 sc0 ls12 ws13\">Other cash movemen<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> relating to operati<span class=\"_ _2\"></span>ons:<span class=\"_ _3bd\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5b25 wdc8 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls12 ws13\">Contri<span class=\"_ _2\"></span>butions to<span class=\"_ _2\"></span> defined benefit<span class=\"_ _2\"></span> pension schemes<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c65 y5b25 wb7 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">G1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x220f y5b25 w734 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls15c ws1ee\">(9)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2210 y5b25 w251 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b9 ws1cc\">(9)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wdc9 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1a ws1b\">Cash ge<span class=\"_ _0\"></span>nerated/(<span class=\"_ _2\"></span>utilise<span class=\"_ _0\"></span>d) b<span class=\"_ _2\"></span>y op<span class=\"_ _0\"></span>erations<span class=\"_ _3bd\"> </span></div></td><td></td><td class=\"c n x2211 y5a16 w10a h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1de ws1f9\">3,<span class=\"_ _0\"></span>549<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2212 y5a16 w1c6 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1de ws1f9\">(<span class=\"_ _0\"></span>770)<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsba5\">1 <span class=\"_ _9\"> </span>Se<span class=\"_ _0\"></span>e note A3 fo<span class=\"_ _0\"></span>r furt<span class=\"_ _0\"></span>her de<span class=\"_ _0\"></span>tails of t<span class=\"_ _0\"></span>he prio<span class=\"_ _0\"></span>r year re<span class=\"_ _0\"></span>sta<span class=\"_ _0\"></span>temen<span class=\"_ _0\"></span>ts.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-688": {
   "value": "Ope<span class=\"_ _0\"></span>rating c<span class=\"_ _0\"></span>ash flows incl<span class=\"_ _0\"></span>ude purcha<span class=\"_ _0\"></span>ses and s<span class=\"_ _0\"></span>ales of investm<span class=\"_ _0\"></span>ent proper<span class=\"_ _0\"></span>t<span class=\"_ _0\"></span>y and financ<span class=\"_ _0\"></span>ial investme<span class=\"_ _0\"></span>nts as the p<span class=\"_ _0\"></span>urchase<span class=\"_ _0\"></span>s are funde<span class=\"_ _0\"></span>d from cash fl<span class=\"_ _0\"></span>ows as<span class=\"_ _0\"></span>sociate<span class=\"_ _0\"></span>d with the origin<span class=\"_ _0\"></span>ation of insuran<span class=\"_ _0\"></span>ce and inves<span class=\"_ _0\"></span>tment contr<span class=\"_ _0\"></span>acts<span class=\"_ _0\"></span>, net of paym<span class=\"_ _0\"></span>ents of related b<span class=\"_ _0\"></span>enefit<span class=\"_ _0\"></span>s and claims<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>The follow<span class=\"_ _0\"></span>ing analys<span class=\"_ _0\"></span>is gives fur<span class=\"_ _0\"></span>ther det<span class=\"_ _0\"></span>ail behind th<span class=\"_ _0\"></span>e \u2018<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ash (utilised<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _2\"></span>ge<span class=\"_ _0\"></span>nerate<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>peration<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>\u2019 fig<span class=\"_ _0\"></span>ure in the st<span class=\"_ _0\"></span>atement of con<span class=\"_ _0\"></span>solidated c<span class=\"_ _0\"></span>ash flows<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-689": {
   "value": "The Group\u2019s capital management is based on the principles of Solvency II, as modified by the PRA\u2019s 2024 reforms (\u2018Solvency UK\u2019). This involves a valuation of the Group\u2019s Own Funds and a risk-based assessment of the Group\u2019s Solvency Capital Requirement (\u2018SCR\u2019) in line with Solvency UK rules. This note sets out the Group\u2019s approach to managing capital and provides an analysis of Own Funds and SCR. ",
   "dimensions": {
    "concept": "pheonixgroupholdings:DescriptionOfAccountingPolicyForCapitalManagement",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-610": {
   "value": "<div class=\"t m0 h27 ff3 fse fc3 sc0 ls1f8 ws216 gsbb6\">I4. Related pa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y transaction<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbb7\">In the or<span class=\"_ _0\"></span>dinary c<span class=\"_ _0\"></span>ourse of b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up and its sub<span class=\"_ _0\"></span>sidiaries c<span class=\"_ _0\"></span>arry o<span class=\"_ _0\"></span>ut trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s with related p<span class=\"_ _0\"></span>artie<span class=\"_ _0\"></span>s as defined by IAS 24 Relate<span class=\"_ _0\"></span>d Part<span class=\"_ _0\"></span>y </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbb8\">Disc<span class=\"_ _0\"></span>losures<span class=\"_ _0\"></span>, which com<span class=\"_ _0\"></span>prise Group p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s, an as<span class=\"_ _0\"></span>sociate an<span class=\"_ _0\"></span>d k<span class=\"_ _2\"></span>ey m<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent per<span class=\"_ _0\"></span>sonnel<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 ls1 ws1 gsbb9\">I4<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Re<span class=\"_ _0\"></span>lated p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tions<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbba\">Durin<span class=\"_ _0\"></span>g the year, the Group entere<span class=\"_ _0\"></span>d into the following re<span class=\"_ _0\"></span>lated par<span class=\"_ _0\"></span>ty tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions with a G<span class=\"_ _0\"></span>roup pensi<span class=\"_ _0\"></span>on schem<span class=\"_ _0\"></span>e and an as<span class=\"_ _0\"></span>sociate:<span class=\"_ _3bd\"> </span></div><div class=\"gsbbb\"><table class=\"s w291 h2cc\" id=\"_99b1a704-3d30-415a-83fc-7ad275a960d9\"><tr><td></td><td class=\"t m0 xb61 h29 y63cf ff3 fs5 fc3 sc0 ls4d wsbf\">T<span class=\"_ _2\"></span>ransactions </td><td class=\"t m0 x1bb9 ha y63cf ff2 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransactions </td></tr><tr><td></td><td class=\"t m0 x1ce h29 y63d0 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y63d0 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y63d1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63d1 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y63d2 ff3 fs6 fc3 sc0 ls1 ws1\">Pearl G<span class=\"_ _0\"></span>roup Staf<span class=\"_ _0\"></span>f Pensi<span class=\"_ _0\"></span>on Sch<span class=\"_ _0\"></span>eme:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae5 wde9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Payment of adm<span class=\"_ _0\"></span>inistrati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222e y5ae5 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x47f y5ae5 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y63d3 ff3 fs6 fc3 sc0 ls1 ws1\">UK C<span class=\"_ _0\"></span>ommer<span class=\"_ _0\"></span>cial Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y RE<span class=\"_ _0\"></span>IT (\u2018U<span class=\"_ _0\"></span>K<span class=\"_ _2\"></span>CPR<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c x1d4 y5b06 wdea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Divid<span class=\"_ _0\"></span>end incom<span class=\"_ _0\"></span>e</div><div class=\"t m0 x222f h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71a y5b06 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2230 y5b06 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y63d4 ff3 fs6 fc3 sc0 ls1a ws122\">Futu<span class=\"_ _2\"></span>re Growth Capital Holdings Limi<span class=\"_ _2\"></span>ted:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wdeb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Initia<span class=\"_ _0\"></span>l in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment in a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2231 y5a16 w2db h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 ha ff2 fs5 fc3 sc0 ls1 ws1 gsbbc\">1 <span class=\"_ _9\"> </span>T<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion<span class=\"_ _0\"></span>s with U<span class=\"_ _0\"></span>K<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>PR only i<span class=\"_ _0\"></span>nclu<span class=\"_ _0\"></span>de thos<span class=\"_ _0\"></span>e that to<span class=\"_ _0\"></span>ok pla<span class=\"_ _0\"></span>ce pri<span class=\"_ _0\"></span>or to the e<span class=\"_ _0\"></span>ntit<span class=\"_ _0\"></span>y ceas<span class=\"_ _0\"></span>ing to b<span class=\"_ _0\"></span>e an ass<span class=\"_ _0\"></span>ocia<span class=\"_ _0\"></span>te and th<span class=\"_ _0\"></span>erefor<span class=\"_ _0\"></span>e a relate<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>ty of t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up (see n<span class=\"_ _0\"></span>ote H4.1 fo<span class=\"_ _0\"></span>r fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s).<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbbd\">In add<span class=\"_ _0\"></span>ition to the above, Ph<span class=\"_ _0\"></span>oenix Life Limite<span class=\"_ _0\"></span>d complete<span class=\"_ _0\"></span>d the buy-<span class=\"_ _0\"></span>out of the PG<span class=\"_ _0\"></span>L P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sc<span class=\"_ _0\"></span>heme liabilit<span class=\"_ _0\"></span>ies. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils are include<span class=\"_ _0\"></span>d </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbbe\">in note<span class=\"_ gs47\"> </span>G1<span class=\"_ _0\"></span>.2.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hb ff1 fs6 fc3 sc0 lsc wsb gsbbf\">I4.2 T<span class=\"_ _2\"></span>ransactions with<span class=\"_ _2\"></span> key management<span class=\"_ _2\"></span> personnel<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc0\">The tota<span class=\"_ _0\"></span>l compen<span class=\"_ _0\"></span>sation of key manag<span class=\"_ _0\"></span>ement p<span class=\"_ _0\"></span>ersonn<span class=\"_ _0\"></span>el, bein<span class=\"_ _0\"></span>g those havin<span class=\"_ _0\"></span>g authori<span class=\"_ _0\"></span>ty and re<span class=\"_ _0\"></span>sponsibili<span class=\"_ _0\"></span>ty for pla<span class=\"_ _0\"></span>nning, dire<span class=\"_ _0\"></span>cting an<span class=\"_ _0\"></span>d controlling th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc1\">ac<span class=\"_ _0\"></span>tivities of the Gro<span class=\"_ _0\"></span>up, including t<span class=\"_ _0\"></span>he Exec<span class=\"_ _0\"></span>utive, Non-<span class=\"_ _0\"></span>Exe<span class=\"_ _0\"></span>cutive Direc<span class=\"_ _0\"></span>tors and m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s Execu<span class=\"_ _0\"></span>tive Commit<span class=\"_ _0\"></span>tee is as foll<span class=\"_ _0\"></span>ows: </div><div class=\"gsbc2\"><table class=\"s w26d h227\" id=\"_a5155eb4-6d0d-4b34-af2e-638df41cb2d5\"><tr><td></td><td class=\"t m0 x1ce h29 y63d5 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y63d5 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y63d6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63d6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a15 wdec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Salar<span class=\"_ _0\"></span>y and other short-term<span class=\"_ _2\"></span> b<span class=\"_ _0\"></span>enefits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2232 y5a15 w345 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2233 y5a15 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wded h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Equity compen<span class=\"_ _0\"></span>sation plans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf54 y5a16 w397 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8d y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc3\">Det<span class=\"_ _0\"></span>ails of the share<span class=\"_ _0\"></span>holdings a<span class=\"_ _0\"></span>nd emolum<span class=\"_ _0\"></span>ents of individ<span class=\"_ _0\"></span>ual Direc<span class=\"_ _0\"></span>tors are provide<span class=\"_ _0\"></span>d in the Remun<span class=\"_ _0\"></span>eration rep<span class=\"_ _0\"></span>ort on p<span class=\"_ _0\"></span>ages 13<span class=\"_ _0\"></span>4 to 16<span class=\"_ _0\"></span>0.<span class=\"_ _3bd\"> </span></div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc4\">Durin<span class=\"_ _0\"></span>g the year to 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 key man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt pers<span class=\"_ _0\"></span>onnel and t<span class=\"_ _0\"></span>heir close f<span class=\"_ _0\"></span>amily memb<span class=\"_ _0\"></span>ers cont<span class=\"_ _0\"></span>ributed \u00a3240<span class=\"_ _0\"></span>,61<span class=\"_ _0\"></span>0 (2023: \u00a320<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>234) </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc5\">to<span class=\"_ gs47\"> </span>Pension<span class=\"_ _0\"></span>s and Saving<span class=\"_ _0\"></span>s produc<span class=\"_ _0\"></span>ts sold by th<span class=\"_ _0\"></span>e Group and tr<span class=\"_ _0\"></span>ansferre<span class=\"_ _0\"></span>d out \u00a3nil (2023: \u00a3<span class=\"_ _0\"></span>110,07<span class=\"_ _2\"></span>4) of inves<span class=\"_ _0\"></span>tments<span class=\"_ _0\"></span>. At 31 Dece<span class=\"_ _0\"></span>mber 2024, th<span class=\"_ _0\"></span>e total value </div><div class=\"t m0 hc ff2 fs6 fc3 sc0 ls1 ws1 gsbc6\">of k<span class=\"_ _2\"></span>ey m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment per<span class=\"_ _0\"></span>sonne<span class=\"_ _0\"></span>l\u2019<span class=\"_ _2\"></span>s inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in Group Pension<span class=\"_ _0\"></span>s and Saving<span class=\"_ _0\"></span>s produc<span class=\"_ _0\"></span>ts was \u00a32<span class=\"_ _0\"></span>,33<span class=\"_ _0\"></span>2,709 (2023<span class=\"_ _0\"></span>: \u00a31,<span class=\"_ _0\"></span>98<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>979).</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-641": {
   "value": "I4. Related pa<span class=\"_ _0\"></span>rt<span class=\"_ _0\"></span>y transaction<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>In the or<span class=\"_ _0\"></span>dinary c<span class=\"_ _0\"></span>ourse of b<span class=\"_ _0\"></span>usiness<span class=\"_ _0\"></span>, the Gro<span class=\"_ _0\"></span>up and its sub<span class=\"_ _0\"></span>sidiaries c<span class=\"_ _0\"></span>arry o<span class=\"_ _0\"></span>ut trans<span class=\"_ _0\"></span>action<span class=\"_ _0\"></span>s with related p<span class=\"_ _0\"></span>artie<span class=\"_ _0\"></span>s as defined by IAS 24 Relate<span class=\"_ _0\"></span>d Part<span class=\"_ _0\"></span>y Disc<span class=\"_ _0\"></span>losures<span class=\"_ _0\"></span>, which com<span class=\"_ _0\"></span>prise Group p<span class=\"_ _0\"></span>ension s<span class=\"_ _0\"></span>cheme<span class=\"_ _0\"></span>s, an as<span class=\"_ _0\"></span>sociate an<span class=\"_ _0\"></span>d k<span class=\"_ _2\"></span>ey m<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent per<span class=\"_ _0\"></span>sonnel<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span>I4<span class=\"_ _0\"></span>.<span class=\"_ _2\"></span>1 Re<span class=\"_ _0\"></span>lated p<span class=\"_ _0\"></span>art<span class=\"_ _0\"></span>y tra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tions<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g the year, the Group entere<span class=\"_ _0\"></span>d into the following re<span class=\"_ _0\"></span>lated par<span class=\"_ _0\"></span>ty tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tions with a G<span class=\"_ _0\"></span>roup pensi<span class=\"_ _0\"></span>on schem<span class=\"_ _0\"></span>e and an as<span class=\"_ _0\"></span>sociate:<span class=\"_ _3bd\"> </span><table class=\"s w291 h2cc\" id=\"_99b1a704-3d30-415a-83fc-7ad275a960d9\"><tr><td></td><td class=\"t m0 xb61 h29 y63cf ff3 fs5 fc3 sc0 ls4d wsbf\">T<span class=\"_ _2\"></span>ransactions </td><td class=\"t m0 x1bb9 ha y63cf ff2 fs5 fc3 sc0 lsbe wsbe\">T<span class=\"_ _2\"></span>ransactions </td></tr><tr><td></td><td class=\"t m0 x1ce h29 y63d0 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y63d0 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y63d1 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63d1 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"t m0 x21a h23 y63d2 ff3 fs6 fc3 sc0 ls1 ws1\">Pearl G<span class=\"_ _0\"></span>roup Staf<span class=\"_ _0\"></span>f Pensi<span class=\"_ _0\"></span>on Sch<span class=\"_ _0\"></span>eme:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5ae5 wde9 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Payment of adm<span class=\"_ _0\"></span>inistrati<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>e ex<span class=\"_ _0\"></span>pense<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x222e y5ae5 wb2 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5<span class=\"_ _0\"></span>)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x47f y5ae5 w636 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1b8 ws1cb\">(4)<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y63d3 ff3 fs6 fc3 sc0 ls1 ws1\">UK C<span class=\"_ _0\"></span>ommer<span class=\"_ _0\"></span>cial Prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y RE<span class=\"_ _0\"></span>IT (\u2018U<span class=\"_ _0\"></span>K<span class=\"_ _2\"></span>CPR<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>):<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c x1d4 y5b06 wdea h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Divid<span class=\"_ _0\"></span>end incom<span class=\"_ _0\"></span>e</div><div class=\"t m0 x222f h11 y5b9e ff2 fs9 fc3 sc0 ls1 ws1\">1<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x71a y5b06 w5b h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2230 y5b06 w135 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls144 ws150\">19<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"t m0 x21a h23 y63d4 ff3 fs6 fc3 sc0 ls1a ws122\">Futu<span class=\"_ _2\"></span>re Growth Capital Holdings Limi<span class=\"_ _2\"></span>ted:<span class=\"_ _3bd\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1d4 y5a16 wdeb h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">Initia<span class=\"_ _0\"></span>l in<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>stment in a<span class=\"_ _0\"></span>ssoci<span class=\"_ _0\"></span>ate<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2231 y5a16 w2db h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls76 ws6e\">(5)<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xd9f y5a16 wde h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">\u2013<span class=\"_ _3bd\"> </span></div></td></tr></table>1 <span class=\"_ _9\"> </span>T<span class=\"_ _2\"></span>ra<span class=\"_ _0\"></span>nsac<span class=\"_ _0\"></span>tion<span class=\"_ _0\"></span>s with U<span class=\"_ _0\"></span>K<span class=\"_ _2\"></span>C<span class=\"_ _0\"></span>PR only i<span class=\"_ _0\"></span>nclu<span class=\"_ _0\"></span>de thos<span class=\"_ _0\"></span>e that to<span class=\"_ _0\"></span>ok pla<span class=\"_ _0\"></span>ce pri<span class=\"_ _0\"></span>or to the e<span class=\"_ _0\"></span>ntit<span class=\"_ _0\"></span>y ceas<span class=\"_ _0\"></span>ing to b<span class=\"_ _0\"></span>e an ass<span class=\"_ _0\"></span>ocia<span class=\"_ _0\"></span>te and th<span class=\"_ _0\"></span>erefor<span class=\"_ _0\"></span>e a relate<span class=\"_ _0\"></span>d par<span class=\"_ _0\"></span>ty of t<span class=\"_ _0\"></span>he Gro<span class=\"_ _0\"></span>up (see n<span class=\"_ _0\"></span>ote H4.1 fo<span class=\"_ _0\"></span>r fur<span class=\"_ _0\"></span>ther d<span class=\"_ _0\"></span>etail<span class=\"_ _0\"></span>s).<span class=\"_ _3bd\"> </span>In add<span class=\"_ _0\"></span>ition to the above, Ph<span class=\"_ _0\"></span>oenix Life Limite<span class=\"_ _0\"></span>d complete<span class=\"_ _0\"></span>d the buy-<span class=\"_ _0\"></span>out of the PG<span class=\"_ _0\"></span>L P<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nsion Sc<span class=\"_ _0\"></span>heme liabilit<span class=\"_ _0\"></span>ies. Fur<span class=\"_ _0\"></span>ther deta<span class=\"_ _0\"></span>ils are include<span class=\"_ _0\"></span>d in note<span class=\"_ gs47\"> </span>G1<span class=\"_ _0\"></span>.2.<span class=\"_ _3bd\"> </span>I4.2 T<span class=\"_ _2\"></span>ransactions with<span class=\"_ _2\"></span> key management<span class=\"_ _2\"></span> personnel<span class=\"_ _3bd\"> </span>The tota<span class=\"_ _0\"></span>l compen<span class=\"_ _0\"></span>sation of key manag<span class=\"_ _0\"></span>ement p<span class=\"_ _0\"></span>ersonn<span class=\"_ _0\"></span>el, bein<span class=\"_ _0\"></span>g those havin<span class=\"_ _0\"></span>g authori<span class=\"_ _0\"></span>ty and re<span class=\"_ _0\"></span>sponsibili<span class=\"_ _0\"></span>ty for pla<span class=\"_ _0\"></span>nning, dire<span class=\"_ _0\"></span>cting an<span class=\"_ _0\"></span>d controlling th<span class=\"_ _0\"></span>e ac<span class=\"_ _0\"></span>tivities of the Gro<span class=\"_ _0\"></span>up, including t<span class=\"_ _0\"></span>he Exec<span class=\"_ _0\"></span>utive, Non-<span class=\"_ _0\"></span>Exe<span class=\"_ _0\"></span>cutive Direc<span class=\"_ _0\"></span>tors and m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s Execu<span class=\"_ _0\"></span>tive Commit<span class=\"_ _0\"></span>tee is as foll<span class=\"_ _0\"></span>ows: <table class=\"s w26d h227\" id=\"_a5155eb4-6d0d-4b34-af2e-638df41cb2d5\"><tr><td></td><td class=\"t m0 x1ce h29 y63d5 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y63d5 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y63d6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63d6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a15 wdec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Salar<span class=\"_ _0\"></span>y and other short-term<span class=\"_ _2\"></span> b<span class=\"_ _0\"></span>enefits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2232 y5a15 w345 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2233 y5a15 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wded h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Equity compen<span class=\"_ _0\"></span>sation plans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf54 y5a16 w397 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8d y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr></table>Det<span class=\"_ _0\"></span>ails of the share<span class=\"_ _0\"></span>holdings a<span class=\"_ _0\"></span>nd emolum<span class=\"_ _0\"></span>ents of individ<span class=\"_ _0\"></span>ual Direc<span class=\"_ _0\"></span>tors are provide<span class=\"_ _0\"></span>d in the Remun<span class=\"_ _0\"></span>eration rep<span class=\"_ _0\"></span>ort on p<span class=\"_ _0\"></span>ages 13<span class=\"_ _0\"></span>4 to 16<span class=\"_ _0\"></span>0.<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g the year to 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 key man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt pers<span class=\"_ _0\"></span>onnel and t<span class=\"_ _0\"></span>heir close f<span class=\"_ _0\"></span>amily memb<span class=\"_ _0\"></span>ers cont<span class=\"_ _0\"></span>ributed \u00a3240<span class=\"_ _0\"></span>,61<span class=\"_ _0\"></span>0 (2023: \u00a320<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>234) to<span class=\"_ gs47\"> </span>Pension<span class=\"_ _0\"></span>s and Saving<span class=\"_ _0\"></span>s produc<span class=\"_ _0\"></span>ts sold by th<span class=\"_ _0\"></span>e Group and tr<span class=\"_ _0\"></span>ansferre<span class=\"_ _0\"></span>d out \u00a3nil (2023: \u00a3<span class=\"_ _0\"></span>110,07<span class=\"_ _2\"></span>4) of inves<span class=\"_ _0\"></span>tments<span class=\"_ _0\"></span>. At 31 Dece<span class=\"_ _0\"></span>mber 2024, th<span class=\"_ _0\"></span>e total value of k<span class=\"_ _2\"></span>ey m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment per<span class=\"_ _0\"></span>sonne<span class=\"_ _0\"></span>l\u2019<span class=\"_ _2\"></span>s inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in Group Pension<span class=\"_ _0\"></span>s and Saving<span class=\"_ _0\"></span>s produc<span class=\"_ _0\"></span>ts was \u00a32<span class=\"_ _0\"></span>,33<span class=\"_ _0\"></span>2,709 (2023<span class=\"_ _0\"></span>: \u00a31,<span class=\"_ _0\"></span>98<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>979).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-659": {
   "value": "I4.2 T<span class=\"_ _2\"></span>ransactions with<span class=\"_ _2\"></span> key management<span class=\"_ _2\"></span> personnel<span class=\"_ _3bd\"> </span>The tota<span class=\"_ _0\"></span>l compen<span class=\"_ _0\"></span>sation of key manag<span class=\"_ _0\"></span>ement p<span class=\"_ _0\"></span>ersonn<span class=\"_ _0\"></span>el, bein<span class=\"_ _0\"></span>g those havin<span class=\"_ _0\"></span>g authori<span class=\"_ _0\"></span>ty and re<span class=\"_ _0\"></span>sponsibili<span class=\"_ _0\"></span>ty for pla<span class=\"_ _0\"></span>nning, dire<span class=\"_ _0\"></span>cting an<span class=\"_ _0\"></span>d controlling th<span class=\"_ _0\"></span>e ac<span class=\"_ _0\"></span>tivities of the Gro<span class=\"_ _0\"></span>up, including t<span class=\"_ _0\"></span>he Exec<span class=\"_ _0\"></span>utive, Non-<span class=\"_ _0\"></span>Exe<span class=\"_ _0\"></span>cutive Direc<span class=\"_ _0\"></span>tors and m<span class=\"_ _0\"></span>ember<span class=\"_ _0\"></span>s o<span class=\"_ _2\"></span>f th<span class=\"_ _0\"></span>e Group\u2019s Execu<span class=\"_ _0\"></span>tive Commit<span class=\"_ _0\"></span>tee is as foll<span class=\"_ _0\"></span>ows: <table class=\"s w26d h227\" id=\"_a5155eb4-6d0d-4b34-af2e-638df41cb2d5\"><tr><td></td><td class=\"t m0 x1ce h29 y63d5 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y63d5 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y63d6 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63d6 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5a15 wdec h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Salar<span class=\"_ _0\"></span>y and other short-term<span class=\"_ _2\"></span> b<span class=\"_ _0\"></span>enefits<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2232 y5a15 w345 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1cf ws1e8\">17<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2233 y5a15 w195 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wded h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls13 ws14\">Equity compen<span class=\"_ _0\"></span>sation plans<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xf54 y5a16 w397 h1fc\"><div class=\"t m0 x1cf hc y5a05 ff3 fs6 fc3 sc0 ls1bd ws1d0\">10<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1c8d y5a16 wb3 h1fb\"><div class=\"t m0 x1cf hc y5a05 ff2 fs6 fc3 sc0 ls1 ws1\">8<span class=\"_ _3bd\"> </span></div></td></tr></table>Det<span class=\"_ _0\"></span>ails of the share<span class=\"_ _0\"></span>holdings a<span class=\"_ _0\"></span>nd emolum<span class=\"_ _0\"></span>ents of individ<span class=\"_ _0\"></span>ual Direc<span class=\"_ _0\"></span>tors are provide<span class=\"_ _0\"></span>d in the Remun<span class=\"_ _0\"></span>eration rep<span class=\"_ _0\"></span>ort on p<span class=\"_ _0\"></span>ages 13<span class=\"_ _0\"></span>4 to 16<span class=\"_ _0\"></span>0.<span class=\"_ _3bd\"> </span>Durin<span class=\"_ _0\"></span>g the year to 31 De<span class=\"_ _0\"></span>cemb<span class=\"_ _0\"></span>er 202<span class=\"_ _2\"></span>4 key man<span class=\"_ _0\"></span>ageme<span class=\"_ _0\"></span>nt pers<span class=\"_ _0\"></span>onnel and t<span class=\"_ _0\"></span>heir close f<span class=\"_ _0\"></span>amily memb<span class=\"_ _0\"></span>ers cont<span class=\"_ _0\"></span>ributed \u00a3240<span class=\"_ _0\"></span>,61<span class=\"_ _0\"></span>0 (2023: \u00a320<span class=\"_ _0\"></span>3,<span class=\"_ _0\"></span>234) to<span class=\"_ gs47\"> </span>Pension<span class=\"_ _0\"></span>s and Saving<span class=\"_ _0\"></span>s produc<span class=\"_ _0\"></span>ts sold by th<span class=\"_ _0\"></span>e Group and tr<span class=\"_ _0\"></span>ansferre<span class=\"_ _0\"></span>d out \u00a3nil (2023: \u00a3<span class=\"_ _0\"></span>110,07<span class=\"_ _2\"></span>4) of inves<span class=\"_ _0\"></span>tments<span class=\"_ _0\"></span>. At 31 Dece<span class=\"_ _0\"></span>mber 2024, th<span class=\"_ _0\"></span>e total value of k<span class=\"_ _2\"></span>ey m<span class=\"_ _0\"></span>anage<span class=\"_ _0\"></span>ment per<span class=\"_ _0\"></span>sonne<span class=\"_ _0\"></span>l\u2019<span class=\"_ _2\"></span>s inves<span class=\"_ _0\"></span>tment<span class=\"_ _0\"></span>s in Group Pension<span class=\"_ _0\"></span>s and Saving<span class=\"_ _0\"></span>s produc<span class=\"_ _0\"></span>ts was \u00a32<span class=\"_ _0\"></span>,33<span class=\"_ _0\"></span>2,709 (2023<span class=\"_ _0\"></span>: \u00a31,<span class=\"_ _0\"></span>98<span class=\"_ _0\"></span>9,<span class=\"_ _0\"></span>979).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-611": {
   "value": "I<span class=\"_ _3bd\"> </span>5<span class=\"_ _0\"></span>. Commit<span class=\"_ _0\"></span>ments<span class=\"_ _3bd\"> </span>This note a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>s the Group\u2019s other comm<span class=\"_ _0\"></span>itments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w26d h210\" id=\"_90cadce2-a489-488e-827a-8c9e45cd3e70\"><tr><td></td><td class=\"t m0 x1ce h29 y63d7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y63d7 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y63d8 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63d8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae6 wdee h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>o subsc<span class=\"_ _0\"></span>ribe to private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds and othe<span class=\"_ _0\"></span>r unlisted a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acd y5ae6 w5f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>425<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc58 y5ae6 wdef h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _1\"></span>,7<span class=\"_ _0\"></span>38<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wdf0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>o purcha<span class=\"_ _0\"></span>se, con<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>t or develop inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y and inc<span class=\"_ _0\"></span>ome strip<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2234 y5a15 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0e y5a15 wd7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wdf1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">For repair<span class=\"_ _0\"></span>s, ma<span class=\"_ _0\"></span>int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nance or e<span class=\"_ _0\"></span>nhanc<span class=\"_ _0\"></span>ements of inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73d y5a16 w602 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2235 y5a16 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr></table>I6<span class=\"_ _0\"></span>. Conting<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _3bd\"> </span>Where t<span class=\"_ _0\"></span>he Group has a p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e future oblig<span class=\"_ _0\"></span>ation as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a p<span class=\"_ _0\"></span>ast event<span class=\"_ _0\"></span>, or a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion but it is not p<span class=\"_ _0\"></span>robable that<span class=\"_ _3bd\"> </span> there w<span class=\"_ _0\"></span>ill be an out<span class=\"_ _0\"></span>flow of resourc<span class=\"_ _0\"></span>es to set<span class=\"_ _0\"></span>tle the oblig<span class=\"_ _0\"></span>ation or the am<span class=\"_ _0\"></span>ount cann<span class=\"_ _0\"></span>ot be reliably e<span class=\"_ _0\"></span>stimate<span class=\"_ _0\"></span>d, this is disc<span class=\"_ _0\"></span>losed a<span class=\"_ _0\"></span>s a continge<span class=\"_ _0\"></span>nt liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Legal proceedings<span class=\"_ _3bd\"> </span>Where t<span class=\"_ _0\"></span>he Group has a p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e future oblig<span class=\"_ _0\"></span>ation as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a p<span class=\"_ _0\"></span>ast event<span class=\"_ _0\"></span>, or a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion but it is not p<span class=\"_ _0\"></span>robable that<span class=\"_ _3bd\"> </span> there w<span class=\"_ _0\"></span>ill be an out<span class=\"_ _0\"></span>flow of resourc<span class=\"_ _0\"></span>es to set<span class=\"_ _0\"></span>tle the oblig<span class=\"_ _0\"></span>ation or the am<span class=\"_ _0\"></span>ount cann<span class=\"_ _0\"></span>ot be reliably e<span class=\"_ _0\"></span>stimate<span class=\"_ _0\"></span>d, this is disc<span class=\"_ _0\"></span>losed a<span class=\"_ _0\"></span>s a continge<span class=\"_ _0\"></span>nt liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span> As a lon<span class=\"_ _0\"></span>g-term saving<span class=\"_ _0\"></span>s and retirem<span class=\"_ _0\"></span>ent busine<span class=\"_ _0\"></span>ss, t<span class=\"_ _0\"></span>he Group ope<span class=\"_ _0\"></span>rates in a highl<span class=\"_ _0\"></span>y regulate<span class=\"_ _0\"></span>d environment<span class=\"_ _0\"></span>. Therefore, in th<span class=\"_ _0\"></span>e normal c<span class=\"_ _0\"></span>ourse of bu<span class=\"_ _0\"></span>siness<span class=\"_ _3bd\"> </span> the Gro<span class=\"_ _0\"></span>up is expose<span class=\"_ _0\"></span>d to cer<span class=\"_ _0\"></span>tain leg<span class=\"_ _0\"></span>al issu<span class=\"_ _0\"></span>es, whic<span class=\"_ _0\"></span>h can involve litig<span class=\"_ _0\"></span>ation and arbit<span class=\"_ _0\"></span>ration, c<span class=\"_ _0\"></span>omplaints<span class=\"_ _0\"></span>, and re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y and tax a<span class=\"_ _0\"></span>uthorit<span class=\"_ _0\"></span>y reviews<span class=\"_ _0\"></span>. At<span class=\"_ _3bd\"> </span> 31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as a numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontingent li<span class=\"_ _0\"></span>abilities in this re<span class=\"_ _0\"></span>gard, n<span class=\"_ _0\"></span>one of which are co<span class=\"_ _0\"></span>nsidere<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y t<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rs to be materi<span class=\"_ _0\"></span>al.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-643": {
   "value": "5<span class=\"_ _0\"></span>. Commit<span class=\"_ _0\"></span>ments<span class=\"_ _3bd\"> </span>This note a<span class=\"_ _0\"></span>nalyse<span class=\"_ _0\"></span>s the Group\u2019s other comm<span class=\"_ _0\"></span>itments<span class=\"_ _0\"></span>.<span class=\"_ _3bd\"> </span><table class=\"s w26d h210\" id=\"_90cadce2-a489-488e-827a-8c9e45cd3e70\"><tr><td></td><td class=\"t m0 x1ce h29 y63d7 ff3 fs5 fc3 sc0 lsa4 ws9f\">2024<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1cd ha y63d7 ff2 fs5 fc3 sc0 ls65 wsc0\">2023<span class=\"_ _3bd\"> </span></td></tr><tr><td></td><td class=\"t m0 x1d2 h29 y63d8 ff3 fs5 fc3 sc0 lsa0 ws9c\">\u00a3m<span class=\"_ _3bd\"> </span></td><td class=\"t m0 x1d3 ha y63d8 ff2 fs5 fc3 sc0 ls80 ws116\">\u00a3m<span class=\"_ _3bd\"> </span></td></tr><tr><td class=\"c n x1d4 y5ae6 wdee h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>o subsc<span class=\"_ _0\"></span>ribe to private e<span class=\"_ _0\"></span>quity f<span class=\"_ _0\"></span>unds and othe<span class=\"_ _0\"></span>r unlisted a<span class=\"_ _0\"></span>sset<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1acd y5ae6 w5f6 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1d7 ws1f1\">2,<span class=\"_ _0\"></span>425<span class=\"_ _3bd\"> </span></div></td><td class=\"c n xc58 y5ae6 wdef h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1db ws1f5\">1<span class=\"_ _1\"></span>,7<span class=\"_ _0\"></span>38<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a15 wdf0 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">T<span class=\"_ _2\"></span>o purcha<span class=\"_ _0\"></span>se, con<span class=\"_ _0\"></span>struc<span class=\"_ _0\"></span>t or develop inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y and inc<span class=\"_ _0\"></span>ome strip<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2234 y5a15 w119 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls5b ws1f8\">16<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x1a0e y5a15 wd7 h1f8\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1c3 ws1db\">23<span class=\"_ _3bd\"> </span></div></td></tr><tr><td class=\"c n x1d4 y5a16 wdf1 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 ls1 ws1\">For repair<span class=\"_ _0\"></span>s, ma<span class=\"_ _0\"></span>int<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>nance or e<span class=\"_ _0\"></span>nhanc<span class=\"_ _0\"></span>ements of inves<span class=\"_ _0\"></span>tment prop<span class=\"_ _0\"></span>ert<span class=\"_ _0\"></span>y<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x73d y5a16 w602 h1f9\"><div class=\"t m0 x1cf hc y59f2 ff3 fs6 fc3 sc0 ls1e0 ws1fb\">22<span class=\"_ _3bd\"> </span></div></td><td class=\"c n x2235 y5a16 w195 h1fa\"><div class=\"t m0 x1cf hc y59f2 ff2 fs6 fc3 sc0 lsb5 wsb3\">15<span class=\"_ _3bd\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-642": {
   "value": "I6<span class=\"_ _0\"></span>. Conting<span class=\"_ _0\"></span>ent liabilities<span class=\"_ _3bd\"> </span>Where t<span class=\"_ _0\"></span>he Group has a p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e future oblig<span class=\"_ _0\"></span>ation as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a p<span class=\"_ _0\"></span>ast event<span class=\"_ _0\"></span>, or a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion but it is not p<span class=\"_ _0\"></span>robable that<span class=\"_ _3bd\"> </span>there w<span class=\"_ _0\"></span>ill be an out<span class=\"_ _0\"></span>flow of resourc<span class=\"_ _0\"></span>es to set<span class=\"_ _0\"></span>tle the oblig<span class=\"_ _0\"></span>ation or the am<span class=\"_ _0\"></span>ount cann<span class=\"_ _0\"></span>ot be reliably e<span class=\"_ _0\"></span>stimate<span class=\"_ _0\"></span>d, this is disc<span class=\"_ _0\"></span>losed a<span class=\"_ _0\"></span>s a continge<span class=\"_ _0\"></span>nt liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>Legal proceedings<span class=\"_ _3bd\"> </span>Where t<span class=\"_ _0\"></span>he Group has a p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e future oblig<span class=\"_ _0\"></span>ation as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a p<span class=\"_ _0\"></span>ast event<span class=\"_ _0\"></span>, or a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion but it is not p<span class=\"_ _0\"></span>robable that<span class=\"_ _3bd\"> </span>there w<span class=\"_ _0\"></span>ill be an out<span class=\"_ _0\"></span>flow of resourc<span class=\"_ _0\"></span>es to set<span class=\"_ _0\"></span>tle the oblig<span class=\"_ _0\"></span>ation or the am<span class=\"_ _0\"></span>ount cann<span class=\"_ _0\"></span>ot be reliably e<span class=\"_ _0\"></span>stimate<span class=\"_ _0\"></span>d, this is disc<span class=\"_ _0\"></span>losed a<span class=\"_ _0\"></span>s a continge<span class=\"_ _0\"></span>nt liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>As a lon<span class=\"_ _0\"></span>g-term saving<span class=\"_ _0\"></span>s and retirem<span class=\"_ _0\"></span>ent busine<span class=\"_ _0\"></span>ss, t<span class=\"_ _0\"></span>he Group ope<span class=\"_ _0\"></span>rates in a highl<span class=\"_ _0\"></span>y regulate<span class=\"_ _0\"></span>d environment<span class=\"_ _0\"></span>. Therefore, in th<span class=\"_ _0\"></span>e normal c<span class=\"_ _0\"></span>ourse of bu<span class=\"_ _0\"></span>siness<span class=\"_ _3bd\"> </span>the Gro<span class=\"_ _0\"></span>up is expose<span class=\"_ _0\"></span>d to cer<span class=\"_ _0\"></span>tain leg<span class=\"_ _0\"></span>al issu<span class=\"_ _0\"></span>es, whic<span class=\"_ _0\"></span>h can involve litig<span class=\"_ _0\"></span>ation and arbit<span class=\"_ _0\"></span>ration, c<span class=\"_ _0\"></span>omplaints<span class=\"_ _0\"></span>, and re<span class=\"_ _0\"></span>gulator<span class=\"_ _0\"></span>y and tax a<span class=\"_ _0\"></span>uthorit<span class=\"_ _0\"></span>y reviews<span class=\"_ _0\"></span>. At<span class=\"_ _3bd\"> </span>31 De<span class=\"_ _0\"></span>cembe<span class=\"_ _0\"></span>r 202<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span>, the Group h<span class=\"_ _0\"></span>as a numbe<span class=\"_ _0\"></span>r o<span class=\"_ _2\"></span>f c<span class=\"_ _0\"></span>ontingent li<span class=\"_ _0\"></span>abilities in this re<span class=\"_ _0\"></span>gard, n<span class=\"_ _0\"></span>one of which are co<span class=\"_ _0\"></span>nsidere<span class=\"_ _0\"></span>d b<span class=\"_ _2\"></span>y t<span class=\"_ _0\"></span>he Direc<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _0\"></span>rs to be materi<span class=\"_ _0\"></span>al.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-690": {
   "value": "Where t<span class=\"_ _0\"></span>he Group has a p<span class=\"_ _0\"></span>ossibl<span class=\"_ _0\"></span>e future oblig<span class=\"_ _0\"></span>ation as a resul<span class=\"_ _0\"></span>t o<span class=\"_ _2\"></span>f a p<span class=\"_ _0\"></span>ast event<span class=\"_ _0\"></span>, or a present le<span class=\"_ _0\"></span>gal or c<span class=\"_ _0\"></span>onstru<span class=\"_ _0\"></span>ctive obliga<span class=\"_ _0\"></span>tion but it is not p<span class=\"_ _0\"></span>robable that<span class=\"_ _3bd\"> </span> there w<span class=\"_ _0\"></span>ill be an out<span class=\"_ _0\"></span>flow of resourc<span class=\"_ _0\"></span>es to set<span class=\"_ _0\"></span>tle the oblig<span class=\"_ _0\"></span>ation or the am<span class=\"_ _0\"></span>ount cann<span class=\"_ _0\"></span>ot be reliably e<span class=\"_ _0\"></span>stimate<span class=\"_ _0\"></span>d, this is disc<span class=\"_ _0\"></span>losed a<span class=\"_ _0\"></span>s a continge<span class=\"_ _0\"></span>nt liabilit<span class=\"_ _0\"></span>y<span class=\"_ _2\"></span>.<span class=\"_ _3bd\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-612": {
   "value": "I7<span class=\"_ _4\"></span>. Events af<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>r the repor<span class=\"_ _0\"></span>ting period<span class=\"_ _3bd\"> </span>The fin<span class=\"_ _0\"></span>ancial s<span class=\"_ _0\"></span>tatement<span class=\"_ _0\"></span>s are adjus<span class=\"_ _0\"></span>ted to refle<span class=\"_ _0\"></span>ct signific<span class=\"_ _0\"></span>ant events th<span class=\"_ _0\"></span>at have a material ef<span class=\"_ _0\"></span>fect on t<span class=\"_ _0\"></span>he financia<span class=\"_ _0\"></span>l results an<span class=\"_ _0\"></span>d that have oc<span class=\"_ _0\"></span>curred bet<span class=\"_ _0\"></span>ween th<span class=\"_ _0\"></span>e period e<span class=\"_ _0\"></span>nd and the da<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>e w<span class=\"_ _0\"></span>hen the finan<span class=\"_ _0\"></span>cial st<span class=\"_ _0\"></span>atements a<span class=\"_ _0\"></span>re authoris<span class=\"_ _0\"></span>ed for iss<span class=\"_ _0\"></span>ue, provide<span class=\"_ _0\"></span>d they give evide<span class=\"_ _0\"></span>nce of condit<span class=\"_ _0\"></span>ions that exis<span class=\"_ _0\"></span>ted at the pe<span class=\"_ _0\"></span>riod end<span class=\"_ _0\"></span>. E<span class=\"_ _2\"></span>vent<span class=\"_ _0\"></span>s that are indic<span class=\"_ _0\"></span>ative of conditi<span class=\"_ _0\"></span>ons that aris<span class=\"_ _0\"></span>e after the p<span class=\"_ _0\"></span>eriod en<span class=\"_ _0\"></span>d that do not re<span class=\"_ _0\"></span>sult in an adju<span class=\"_ _0\"></span>stment to<span class=\"_ gs47\"> </span>th<span class=\"_ _0\"></span>e financial st<span class=\"_ _0\"></span>atements a<span class=\"_ _0\"></span>re disclose<span class=\"_ _0\"></span>d.<span class=\"_ _3bd\"> </span>On 4 Febr<span class=\"_ _0\"></span>uar<span class=\"_ _0\"></span>y 2025, th<span class=\"_ _0\"></span>e Group rede<span class=\"_ _0\"></span>emed i<span class=\"_ _0\"></span>ts US $25<span class=\"_ _0\"></span>0 million Perpet<span class=\"_ _0\"></span>ual Conting<span class=\"_ _0\"></span>ent Conver<span class=\"_ _0\"></span>tible T<span class=\"_ _0\"></span>ier 1 notes at the<span class=\"_ _0\"></span>ir principal am<span class=\"_ _0\"></span>ount toget<span class=\"_ _0\"></span>her with intere<span class=\"_ _0\"></span>st accr<span class=\"_ _0\"></span>ued to the rep<span class=\"_ _0\"></span>ayment date.<span class=\"_ _3bd\"> </span>On 12 M<span class=\"_ _0\"></span>arch 2025<span class=\"_ _0\"></span>, the Group re<span class=\"_ _0\"></span>ceived c<span class=\"_ _0\"></span>ourt ap<span class=\"_ _0\"></span>proval for the Par<span class=\"_ _0\"></span>t VII tran<span class=\"_ _0\"></span>sfer of the TIP b<span class=\"_ _0\"></span>usines<span class=\"_ _0\"></span>s, curre<span class=\"_ _0\"></span>ntly clas<span class=\"_ _0\"></span>sified as he<span class=\"_ _0\"></span>ld for sale (se<span class=\"_ _0\"></span>e note H3), to Aber<span class=\"_ _0\"></span>deen Group<span class=\"_ _0\"></span>. The effe<span class=\"_ _0\"></span>ctive date for this tr<span class=\"_ _0\"></span>ansac<span class=\"_ _0\"></span>tion is expe<span class=\"_ _0\"></span>cted to b<span class=\"_ _0\"></span>e 28 March 202<span class=\"_ _0\"></span>5.<span class=\"_ _3bd\"> </span>On 1<span class=\"_ _0\"></span>6 March 202<span class=\"_ _0\"></span>5, the B<span class=\"_ _0\"></span>oard reco<span class=\"_ _0\"></span>mmende<span class=\"_ _0\"></span>d a final divide<span class=\"_ _0\"></span>nd of 27<span class=\"_ _4\"></span>.<span class=\"_ _0\"></span>35p p<span class=\"_ _0\"></span>er share for th<span class=\"_ _0\"></span>e year ende<span class=\"_ _0\"></span>d 31 Dec<span class=\"_ _0\"></span>ember 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 (2023<span class=\"_ _0\"></span>: 26.6<span class=\"_ _0\"></span>5p). Payment of the fina<span class=\"_ _0\"></span>l dividend is s<span class=\"_ _0\"></span>ubjec<span class=\"_ _0\"></span>t to shareho<span class=\"_ _0\"></span>lder approval at t<span class=\"_ _0\"></span>he A<span class=\"_ _2\"></span>G<span class=\"_ _0\"></span>M. The c<span class=\"_ _0\"></span>ost of this divid<span class=\"_ _0\"></span>end has n<span class=\"_ _0\"></span>ot been re<span class=\"_ _0\"></span>cognis<span class=\"_ _0\"></span>ed as a liabilit<span class=\"_ _0\"></span>y in the co<span class=\"_ _0\"></span>nsolidate<span class=\"_ _0\"></span>d finan<span class=\"_ _0\"></span>cial state<span class=\"_ _0\"></span>ments for 2<span class=\"_ _0\"></span>02<span class=\"_ _2\"></span>4 and will b<span class=\"_ _0\"></span>e charge<span class=\"_ _0\"></span>d to the sta<span class=\"_ _0\"></span>tement of cons<span class=\"_ _0\"></span>olidated ch<span class=\"_ _0\"></span>ange<span class=\"_ _0\"></span>s in equit<span class=\"_ _0\"></span>y in 2025.<span class=\"_ _3bd\"> </span>Sir Nicholas<span class=\"_ _2\"></span> L<span class=\"_ _2\"></span>yons<span class=\"_ _3bd\"> </span>And<span class=\"_ _0\"></span>y Brigg<span class=\"_ _0\"></span>s<span class=\"_ _3bd\"> </span>Nicolaos Nicandrou<span class=\"_ _3bd\"> </span>Eleanor Bucks<span class=\"_ _3bd\"> </span>Karen Green<span class=\"_ _3bd\"> </span>Mark Gregory<span class=\"_ _3bd\"> </span>Hiroyuki Iioka<span class=\"_ _3bd\"> </span>Katie Murray<span class=\"_ _3bd\"> </span>Belinda Richards<span class=\"_ _3bd\"> </span>Davi<span class=\"_ _0\"></span>d Scot<span class=\"_ _0\"></span>t<span class=\"_ _3bd\"> </span>Margaret Sem<span class=\"_ _0\"></span>ple,<span class=\"_ _2\"></span> O<span class=\"_ _0\"></span>BE<span class=\"_ _3bd\"> </span>Nicholas Shott<span class=\"_ _3bd\"> </span>16 M<span class=\"_ _0\"></span>arch 2025",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-4": {
   "value": "Phoenix Group Holdings plc",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-571": {
   "value": "20 Old Bailey  London England EC4M 7AN ",
   "dimensions": {
    "concept": "ifrs-full:PrincipalPlaceOfBusiness",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact-3": {
   "value": "20 Old Bailey  London England EC4M 7AN",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "en",
    "entity": "scheme:2138001P49OLAEU33T68",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  }
 }
}